Free cash flow
Union Pacific Free cash flow increased by 22.6% to $1.50B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 15.3%, from $1.30B to $1.50B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows relatively stable performance with a -2.5% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.61B | $1.53B | $1.54B | $1.39B | $1.13B | $1.86B | $1.36B | $1.07B | $1.18B | $1.15B | $1.37B | $1.33B | $1.01B | $1.82B | $1.74B | $1.30B | $1.40B | $1.57B | $1.23B | $1.50B |
| QoQ Change | — | -4.9% | +0.6% | -9.8% | -18.3% | +63.8% | -26.7% | -21.6% | +10.8% | -2.7% | +19.1% | -3.4% | -23.8% | +80.4% | -4.4% | -25.1% | +7.1% | +12.5% | -22.0% | +22.6% |
| YoY Change | — | — | — | — | -29.4% | +21.5% | -11.4% | -23.1% | +4.3% | -38.1% | +0.7% | +24.1% | -14.7% | +58.1% | +26.9% | -1.6% | +38.5% | -13.6% | -29.5% | +15.3% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Union Pacific's free cash flow?
- Union Pacific (UNP) reported free cash flow of $1.50B in Q1 2026.
- How has Union Pacific's free cash flow changed year-over-year?
- Union Pacific's free cash flow increased by 15.3% year-over-year, from $1.30B to $1.50B.
- What is the long-term trend for Union Pacific's free cash flow?
- Over 4 years (2021 to 2025), Union Pacific's free cash flow has grown at a -2.5% compound annual growth rate (CAGR), from $6.10B to $5.50B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.