Union Pacific Corporation
NYSE: UNP · INDUSTRIALS · RAILROADS
Updated 2026-06-12
Union Pacific Corporation (UNP) Financial statements
SEC filings — annual and quarterly data.
Balance sheet — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $36.52B | $38.03B | $39.72B | $42.18B | $43.09B | $45.10B | $47.15B | $49.73B | $52.37B | $54.60B | $55.72B | $57.81B | $59.15B | $61.67B | $62.40B | $63.52B | $65.45B | $67.13B | $67.72B | $69.70B |
| Cash & equivalents | $827.00M | $878.00M | $1.25B | $1.85B | $1.09B | $1.22B | $1.06B | $1.43B | $1.59B | $1.39B | $1.28B | $1.27B | $1.27B | $831.00M | $1.80B | $960.00M | $973.00M | $1.05B | $1.02B | $1.27B |
| Current assets | $2.41B | $2.59B | $2.81B | $3.68B | $3.43B | $3.73B | $3.61B | $3.99B | $4.68B | $4.13B | $3.60B | $4.04B | $4.16B | $3.46B | $4.21B | $3.55B | $3.95B | $4.15B | $4.02B | $4.55B |
| Total liabilities | $21.20B | $22.45B | $24.27B | $25.38B | $25.32B | $26.52B | $27.28B | $28.51B | $31.53B | $33.90B | $35.79B | $32.95B | $38.72B | $43.55B | $45.44B | $49.36B | $53.29B | $52.34B | $50.83B | $51.23B |
| Current liabilities | $3.54B | $3.04B | $2.88B | $2.68B | $2.95B | $3.32B | $3.12B | $3.79B | $3.77B | $3.21B | $3.64B | $3.94B | $4.63B | $4.35B | $4.17B | $5.74B | $5.52B | $5.11B | $5.25B | $5.01B |
| Long-term debt | $6.00B | $7.54B | $8.61B | $9.64B | $9.00B | $8.70B | $8.80B | $8.87B | $11.02B | $13.61B | $14.25B | $16.14B | $20.93B | $23.94B | $25.66B | $27.56B | $31.65B | $31.16B | $29.77B | $30.29B |
| Shareholder equity | $15.31B | $15.59B | $15.45B | $16.80B | $17.76B | $18.58B | $19.88B | $21.23B | $21.19B | $20.70B | $19.93B | $24.86B | $20.42B | $18.13B | $16.96B | $14.16B | $12.16B | $14.79B | $16.89B | $18.47B |
| Retained earnings | $11.21B | $12.67B | $13.81B | $15.03B | $17.15B | $19.51B | $22.27B | $25.29B | $27.37B | $30.23B | $32.59B | $41.32B | $45.28B | $48.60B | $51.33B | $55.05B | $58.89B | $62.09B | $65.63B | $69.53B |
| Accounts receivable | $679.00M | $632.00M | $594.00M | $666.00M | $1.18B | $1.40B | $1.33B | $1.41B | $1.61B | $1.36B | $1.26B | $1.49B | $1.75B | $1.59B | $1.50B | $1.72B | $1.89B | $2.07B | $1.89B | $1.86B |
| Inventory | $395.00M | $453.00M | $450.00M | $475.00M | $534.00M | $614.00M | $660.00M | $653.00M | $712.00M | $736.00M | $717.00M | $749.00M | $742.00M | $751.00M | $638.00M | $621.00M | $741.00M | $743.00M | $769.00M | $787.00M |
| Goodwill | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-11.93B | $-12.63B | $-12.93B | — | — | — | — | — |
Frequently asked questions
What is Union Pacific Corporation's revenue?
Union Pacific Corporation's trailing twelve-month revenue is $24.70B, and consensus projects about $30.73B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is UNP?
In its most recent fiscal year, UNP ran a gross margin of 59.38%, an operating margin of 40.14%, and a net margin of 29.12%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does UNP generate?
UNP produced $5.50B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is UNP's balance sheet healthy?
UNP holds $1.27B in cash and equivalents against $30.29B in long-term debt, on $18.47B of shareholder equity. That debt is best read against the cash flow the business throws off each year.