Income StatementBalance SheetCash FlowSegments
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Union Pacific Income Statement

Revenue, expenses, and profitability over time

Union Pacific generated $24.7B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $7.2B with a 29.2% net margin. Diluted EPS is $12.15, which grew 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$24.7BOperating Income (TTM)$9.9BNet Income (TTM)$7.2BEps Diluted (TTM)$12.15
Latest FilingQ1 2026
Report Date2026-04-23
Market Cap$159.91B
P/E Ratio22.17
ROE40.69%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Compensation and benefits$1.3B$34.0M$37.0M$39.0M$4.8B$1.2B
Total operating expenses$3.6B$3.7B$3.6B$3.7B$3.7B$3.8B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$2.91$2.71$3.16$3.02$3.11$2.87
Diluted earnings per share$2.91$2.70$3.15$3.01$3.12$2.87
Weighted-average shares, basic—601M594.1M592.4M—593M
Weighted-average shares, diluted—601.9M594.8M593.2M—593.6M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$2.3B$2.1B$2.3B$2.3B$2.4B$2.2B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$519.0M$61.0M$437.0M$530.0M$1.0B$528.0M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$312.0M$439.0M$335.0M$327.0M$208.0M$320.0M
Non-service pension and postretirement benefit expense—-$13.0M-$14.0M-$13.0M—-$15.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$1.8B$1.6B$1.9B$1.8B$1.8B$1.7B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$2.5B$2.4B$2.5B$2.5B$2.4B$2.5B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accelerated Share Repurchase Programs Pending Final Settlement—$300.0M———$0.0
Accrual for Environmental Loss Contingencies, Payments—$21.0M$20.0M$14.0M—$19.0M
Pre-tax stock-based compensation cost—$34.0M———$29.0M
Capital investments accrued but not yet paid—$173.0M-$16.0M$33.0M—$143.0M
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—$394.0M———-$529.0M
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$1.6B———$1.7B
Deferred and other income taxes—-$7.0M———$54.0M
Defined Benefit Plan, Amortization of Gain (Loss)—-$2.0M———-$2.0M
Defined Benefit Plan, Expected Return (Loss) on Plan Assets—$60.0M———$56.0M
Interest cost—$45.0M———$39.0M
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)—-$2.0M———-$6.0M
Service cost—$11.0M———$9.0M
Depreciation—$610.0M———$633.0M
Dividends, Common Stock—$804.0M———$819.0M
Share-Based Payment Arrangement, Expense, Tax Benefit—$7.0M———$9.0M
Income tax benefit realized from option exercises—$2.0M$1.0M$0.0—$5.0M
Environmental Remediation And Restoration—$5.0M———$11.0M
Income Taxes Paid, Net—$61.0M———$59.0M
Accounts payable and other current liabilities—-$236.0M———-$135.0M
Increase (Decrease) in Accounts Receivable—$71.0M———$126.0M
Income and other taxes—$363.0M———$426.0M
Increase (Decrease) in Materials and Supplies—-$22.0M$27.0M$8.0M—$51.0M
Increase (Decrease) in Other Current Assets—$75.0M———$36.0M
Increase (Decrease) in Other Operating Assets and Liabilities, Net—$22.0M$21.0M-$49.0M—$26.0M
Interest Income, Other—$14.0M———$15.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity—$439.0M———$441.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$878.0M-$1.8B-$1.8B—-$2.0B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation—-$938.0M-$901.0M-$952.0M—-$988.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation—$2.2B$2.3B$2.5B—$2.4B
Number of operating segments—————1.00
Number of reportable segments—————1.00
Other comprehensive income/(loss) before reclassifications—$3.0M———$38.0M
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent—-$3.0M———$1.0M
Foreign currency translation—$0.0———$39.0M
Other comprehensive income/(loss)—$3.0M———$38.0M
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent—$200.0K———$100.0K
Other—$359.0M———$364.0M
Other—-$8.0M———-$4.0M
Payment for (Proceeds from) Other Investing Activity—$32.0M———$51.0M
Payments for Repurchase of Common Stock—$1.4B———$0.0
Payments of Dividends—$804.0M———$821.0M
Payments to Acquire Property, Plant, and Equipment—$906.0M———$937.0M
Cash contributions for pension plans—————$0.0
Proceeds from Issuance of Commercial Paper—$0.0$0.0$0.0—$0.0
Debt issued (Note 13)—$2.0B-$1.0M$0.0—$0.0
Financing — other—$20.0M———$12.0M
Cash received from option exercises—$41.0M$5.0M$1.0M—$30.0M
Real estate income—$64.0M———$76.0M
Purchased services and materials—$631.0M———$673.0M
Receivables securitization facility, issued—$0.0$0.0$0.0—$0.0
Repayments amount—$0.0$0.0$0.0—$0.0
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent—$0.0———$0.0
Repayments of commercial paper—$0.0$0.0$0.0—$0.0
Repayments of Debt and Lease Obligation—$370.0M$39.0M$1.0B—$1.2B
Granted (in shares)—423K00—436K
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period—018K3K—12K
Forfeited or expired (in shares)—$0.00$238.86$0.07—$248.62
Intrinsic value of stock options exercised—$20.0M$1.0M$2.0M—$24.0M
Granted (in shares)—$243.51$0.00$0.00—$251.45
Exercised (in shares)—$164.76$-0.58$-2.09—$146.82
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period—223K27K11K—224K
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture—$65.0M———$31.0M
Treasury Shares Repurchased For Employee Payroll Taxes—$6.0M$1.0M$0.0—$6.0M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$6.1B$6.0B$6.2B$6.2B$6.1B$6.2B