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Earnings transcript
Read the complete earnings call transcript.
UNP
Union Pacific Corporation
$279.37
-3.11
(-1.1%)
| Exchange: | NYSE |
| Market Cap: | 165.967B |
| Shares Outstanding: | 899.522M |
Delayed data
About The Company
| Sector: | IndustrialsView sector performance | |||||
| Industry: | RailroadsView industry performance | |||||
| CEO: | Vincenzo James Vena | |||||
| Full Time Employees: | 28716 | |||||
| Address: |
| |||||
| Website: | https://www.up.com |
Union Pacific Corporation, a prominent American railway enterprise, conducts its primary operations through its subsidiary, Union Pacific Railroad Company. The company provides extensive freight transportation services for a wide array of commodities. Its diverse cargo includes agricultural products like grain, fertilizers, and refrigerated foods; energy resources such as coal, renewables, petroleum, and liquid petroleum gases; and industrial materials encompassing construction products, chemicals, plastics, forest products, metals, ores, soda ash, and sand. Union Pacific also facilitates the movement of finished automobiles, automotive parts, and general merchandise in intermodal containers, serving a varied clientele that spans agricultural processors, energy producers, and industrial manufacturers. As of December 31, 2021, the company’s vast rail network stretched 32,452 route miles, strategically connecting major ports along the Pacific and Gulf Coasts with crucial gateways throughout the Midwestern and Eastern United States. Established in 1862, Union Pacific Corporation is headquartered in Omaha, Nebraska.
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Revenue Segmentation
UNP full analysis
Hey everyone, welcome back to MarketSnap. Union Pacific just posted record results, raised guidance, and the stock is up nearly thirty percent over the past year. But here's the thing — the fuel surcharge controversy, the balance sheet leverage, and a valuation model that's flashing some serious warning signs. Today we're stress-testing UNP with MarketSnap's valuation engine — not the hype, just the math. Before we dive into the numbers, let's set the stage. Union Pacific is trading right around…
Industry Peers
| TICKER | COMPANY | MKT CAP | P/E | FWD P/E | ROIC |
|---|---|---|---|---|---|
| UNP | Union Pacific Corporation | 166.0B | 22.6 | 21.4 | 11.7% |
 CSX | CSX Corporation | 87.3B | 27.2 | 23.4 | 9.0% |
 CP | Canadian Pacific Kansas City Ltd. | 76.9B | 26.0 | 23.1 | 5.4% |
 CNI | Canadian National Railway Company | 72.0B | 21.4 | 20.0 | 8.7% |
 NSC | Norfolk Southern Corporation | 70.6B | 26.8 | 24.2 | 7.3% |
 WAB | Westinghouse Air Brake Technologies Co… | 47.3B | 37.6 | 25.8 | 7.6% |
EPS
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Earnings Call
AI summary
Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 24,119,000 | 24,250,000 | 24,510,000 |
| Gross Profit | 10,529,000 | 11,039,000 | 14,553,000 |
| EBITDA | 11,928,000 | 12,498,000 | 12,947,000 |
| Operating Income | 9,082,000 | 9,713,000 | 9,839,000 |
| Net Income | 6,379,000 | 6,747,000 | 7,138,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 67,132,000 | 67,715,000 | 69,698,000 |
| Total Liabilities | 52,344,000 | 50,825,000 | 51,231,000 |
| Total Stockholders Equity | 14,788,000 | 16,890,000 | 18,467,000 |
| Total Debt | 34,179,000 | 32,463,000 | 31,814,000 |
| Cash and Cash Equivalents | 1,055,000 | 1,016,000 | 1,266,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 8,379,000 | 9,346,000 | 9,290,000 |
| Capital Expenditure | -3,606,000 | -3,452,000 | -3,791,000 |
| Free Cash Flow | 4,773,000 | 5,894,000 | 5,499,000 |
| Net Income | 6,379,000 | 6,747,000 | 7,138,000 |
| Net Change in Cash | 87,000 | -46,000 | 255,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 38,117,534.826 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 39,717,422.021 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 38,956,333.333 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 20,514,687.865 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 21,345,096.022 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 20,950,056.584 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 11,676,198.529 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 12,317,534.630 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 12,012,440.020 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 2,298,095.972 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 2,394,552.743 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 2,348,666.910 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 20.240 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 20.750 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 19.670 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 6 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Union Pacific reported strong second-quarter 2025 earnings, with key financial results indicating solid revenue growth and improved earnings per share, as highlighted in the earnings call transcript. This performance reflects effective operational management and strategic pricing initiatives.
- Operational Efficiency: The earnings call summary emphasizes operational improvements, contributing to enhanced profitability. Metrics such as return on equity (ROE TTM) and return on invested capital (ROIC TTM) likely support this strength, indicating efficient use of capital and resources.
- Strong Cash Flow Generation: Analysis of cash flow statements shows consistent net cash provided by operating activities and positive free cash flow, providing financial flexibility for dividends (evident from net dividends paid) and potential reinvestment in growth initiatives.
- Market Position: As a key player in the transportation and logistics sector (per sectorName and industryName data), Union Pacific benefits from a strong market presence, supported by a large market capitalization (mktCap) and extensive operational scale (fullTimeEmployees).
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates UNP intrinsic value between $142.50 – $182.39 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about UNP valuation
Is Union Pacific Corporation (UNP) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Union Pacific Corporation (UNP) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is UNP a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether UNP trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is UNP’s P/E ratio?
You can see UNP’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for UNP?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is UNP a good long-term investment?
Whether UNP fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
UNP
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Daily snapshot
-1.1
Trading Metrics:
| Open: | 280.79 | Previous Close: | 282.48 | |
| Day Low: | 278.7 | Day High: | 281.34 | |
| Year Low: | 215.53 | Year High: | 315.99 | |
| Price Avg 50: | 294.71 | Price Avg 200: | 262.63 | |
| Volume: | 4.833M | Average Volume: | 2.76M |
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