Union Pacific Corporation
UNPNYSE
$296.11
Last price · USD
- Market cap
- $175.7B
- P/E
- 24.7x
- EV / EBITDA
- 15.9x
- P/S
- 7.2x
- FCF yield
- 3.1%
- Div. yield
- 1.84%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Union Pacific Corporation cash flow statement
Annual · USD millions except per-share data · 34 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 7,138 | 6,747 | 6,379 | 6,998 | 6,523 | +2.3% | |
| Depreciation & amortization | 2,465 | 2,398 | 2,318 | 2,246 | 2,208 | +2.8% | |
| Deferred income tax | 241 | 28 | 117 | 262 | 154 | +11.8% | |
| Stock-based compensation | 0 | 0 | 0 | 99 | 88 | — | |
| Change in working capital | (361) | 186 | (303) | 8 | 203 | — | |
| Accounts receivables | 34 | 179 | (177) | (169) | (217) | — | |
| Inventory | (18) | (26) | (2) | (120) | 17 | — | |
| Accounts payables | (196) | 189 | (215) | 565 | 184 | — | |
| Other working capital | (181) | (156) | 91 | (268) | 219 | — | |
| Other non-cash items | (193) | (13) | (132) | (251) | (144) | — | |
| Net cash from operating activities | 9,290 | 9,346 | 8,379 | 9,362 | 9,032 | +0.7% | |
| Operating cash flow | 9,290 | 9,346 | 8,379 | 9,362 | 9,032 | +0.7% | |
| Investing activities | |||||||
| Investments in PP&E | (3,791) | (3,452) | (3,606) | (3,620) | (2,936) | — | |
| Capital expenditure | (3,791) | (3,452) | (3,606) | (3,620) | (2,936) | — | |
| Acquisitions, net | 0 | 0 | 0 | 194 | 2,936 | — | |
| Purchases of investments | 0 | 0 | 0 | (46) | (70) | — | |
| Sales / maturities of investments | 0 | 0 | 0 | 46 | 94 | — | |
| Other investing activities | 29 | 127 | (61) | (45) | (2,733) | — | |
| Net cash from investing activities | (3,762) | (3,325) | (3,667) | (3,471) | (2,709) | — | |
| Financing activities | |||||||
| Net debt issuance | 567 | (1,426) | (591) | 3,789 | 2,902 | -33.5% | |
| Long-term net debt issuance | 567 | (1,426) | (591) | 3,789 | 2,902 | -33.5% | |
| Net stock issuance | (2,679) | (1,505) | (705) | (6,282) | (7,291) | — | |
| Common stock repurchased | (2,679) | (1,505) | (705) | (6,282) | (7,291) | — | |
| Net common stock issuance | (2,679) | (1,505) | (705) | (6,282) | (7,291) | — | |
| Common dividends paid | (3,236) | (3,213) | (3,173) | (3,159) | (2,800) | — | |
| Net dividends paid | (3,236) | (3,213) | (3,173) | (3,159) | (2,800) | — | |
| Other financing activities | 72 | 77 | (156) | (235) | 31 | +23.5% | |
| Net cash from financing activities | (5,276) | (6,067) | (4,625) | (5,887) | (7,158) | — | |
| Cash summary | |||||||
| Net change in cash | 252 | (46) | 87 | 4 | (835) | — | |
| Cash at beginning of period | 1,028 | 1,074 | 987 | 983 | 1,818 | -13.3% | |
| Cash at end of period | 1,280 | 1,028 | 1,074 | 987 | 983 | +6.8% | |
| Free cash flow | 5,499 | 5,894 | 4,773 | 5,742 | 6,096 | -2.5% | |
| Income taxes paid | 543 | 1,340 | 1,486 | 2,060 | 1,658 | -24.4% | |
| Interest paid | 1,311 | 1,260 | 1,268 | 1,156 | 1,087 | +4.8% | |