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Union Pacific UNP Debt-to-equity

Debt-to-equity at other companies

Canadian Pacific Kansas City logo
Canadian Pacific Kansas CityCP
0.5×
CSX logo
CSXCSX
1.6×+1.6×
Norfolk Southern logo
Norfolk SouthernNSC
0.0×
Berkshire Hathaway logo
Berkshire HathawayBRK.B
0.0×
Wabtec logo
WabtecWAB
0.6×+0.2×
Parker-Hannifin logo
Parker-HannifinPH
0.7×+0.1×

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%
CapEx$937.0M+3.4%
Free cash flow$1.5B+15.3%

Valuation

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Market cap$153.21B+1.7%
Enterprise value$153.33B-17.2%
P/E21.2×-1.1×
P/S6.2×0.0×

Profitability

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Operating margin40.2%+0.2pp
Net margin29.2%+1.4pp

Returns & leverage

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Return on equity40.7%-1.8pp
Current ratio0.9×+0.2×

Where this comes from

Calculated from Union Pacific’s reported figures.

Based on the most recent quarter.

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 debt-to-equity?
Union Pacific (UNP) reported debt-to-equity of 0× in Q1 2026.
How has Union Pacific's debt-to-equity changed year-over-year?
Union Pacific's debt-to-equity decreased by 97.9% year-over-year, from 2.1× to 0×.
What is the long-term trend for Union Pacific's debt-to-equity?
Over 4 years (2021 to 2025), Union Pacific's debt-to-equity has grown at a -0.5% compound annual growth rate (CAGR), from 8× to 7.9×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.