What is Union Pacific's capex?

Union Pacific (UNP) reported capex of $937M in Q1 2026.

How has Union Pacific's capex changed year-over-year?

Union Pacific's capex increased by 3.4% year-over-year, from $906M to $937M.

What is the long-term trend for Union Pacific's capex?

Over 4 years (2021 to 2025), Union Pacific's capex has grown at a 6.6% compound annual growth rate (CAGR), from $2.94B to $3.79B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Union Pacific UNP CapEx

CapEx at other companies

Canadian Pacific Kansas CityCP

$664M-6.6%

CSXCSX

$543M-24.5%

Norfolk SouthernNSC

$382M-14.9%

FIP

FTAI Infrastructure Inc.FIP

$46.48M-30.1%

LSB IndustriesLXU

$16.98M-18.6%

Berkshire HathawayBRK.B

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Other financials

Income statement

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Revenue$6.2B+3.2%

Operating income$2.5B+3.7%

Net income$1.7B+4.6%

EPS (diluted)$2.87+6.3%

Balance sheet

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Cash & equivalents$735.0M-47.9%

Total debt$854.0M-97.5%

Total equity$19.4B+21.1%

Total assets$69.6B+1.7%

Cash flow

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Operating cash flow$2.4B+10.4%

Free cash flow$1.5B+15.3%

Valuation

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Market cap$158.95B+19.6%

Enterprise value$159.07B-3.8%

P/E22×+2.3×

P/S6.4×+1.0×

Profitability

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Operating margin40.2%+0.2pp

Net margin29.2%+1.4pp

FCF margin23.1%-1.2pp

Returns & leverage

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Return on equity40.7%-1.8pp

Debt / equity0×-2.1×

Current ratio0.9×+0.2×

Where this comes from

Reported directly by Union Pacific in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Union Pacific’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Union Pacific's capex?: Union Pacific (UNP) reported capex of $937M in Q1 2026.
How has Union Pacific's capex changed year-over-year?: Union Pacific's capex increased by 3.4% year-over-year, from $906M to $937M.
What is the long-term trend for Union Pacific's capex?: Over 4 years (2021 to 2025), Union Pacific's capex has grown at a 6.6% compound annual growth rate (CAGR), from $2.94B to $3.79B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.