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Union Pacific UNP Industrial — Total operating revenues

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Other financials

Income statement

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Revenue$6.9B+11.5%
Operating income$2.8B+9.4%
Net income$2.0B+6.2%
EPS (diluted)$3.36+6.7%

Balance sheet

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Cash & equivalents$1.6B+52.3%
Total debt$31.2B-8.2%
Total equity$20.7B+27.2%
Total assets$71.2B+3.8%

Cash flow

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Operating cash flow$3.1B+31.8%
CapEx$873.0M-6.7%
Free cash flow$2.2B+57.7%

Valuation

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Market cap$175.57B+31.3%
Enterprise value$205.13B+23.1%
P/E24×+4.7×
P/S6.9×+1.4×

Profitability

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Operating margin40%-0.3pp
Net margin28.8%+0.4pp
FCF margin25.6%-0.1pp

Returns & leverage

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Return on equity39.7%-2.7pp
Debt / equity1.5×-0.6×
Current ratio+0.3×

Where this comes from

Reported directly by Union Pacific in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Union Pacific’s 10-Q, filed July 23, 2026.

Filed
Jul 23, 2026, 3:48 PM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q4 2026
Accession
0000100885-26-000250
MillionsThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Bulk$2,043$1,901$4,069$3,737
Industrial2,3862,2124,5774,294
Premium2,0891,7303,7653,503
Total freight revenues$6,518$5,843$12,411$11,534
Other subsidiary revenues194181369375
Accessorial revenues129107255225
Other23234647
Total operating revenues$6,864$6,154$13,081$12,181

Item 1. Condensed Consolidated Financial Statements

FAQ

What is Union Pacific's industrial — total operating revenues?
Union Pacific (UNP) reported industrial — total operating revenues of $2.39B in Q2 2026.
What does industrial — total operating revenues mean?
This metric represents the total gross revenue generated from the transportation of industrial products, including construction materials, plastics, metals, and minerals. It serves as a key indicator of the company's exposure to broader manufacturing and industrial economic cycles. Tracking this revenue stream helps investors assess the demand for freight services linked to domestic production and infrastructure development.

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