Union Pacific Corporation (UNP) Financial Statements
Union Pacific financial statements at a glance
Union Pacific reported revenue of $24.51 billion for fiscal year 2025 (ended December 31, 2025), up 1.1% from fiscal year 2024. Net income was $7.14 billion, a net margin of 29.1%, and diluted earnings per share were $11.98.
At the end of fiscal year 2025 it had total assets of $69.70 billion, total liabilities of $51.23 billion and shareholders' equity of $18.47 billion, with cash and short-term investments of $1.52 billion and total debt of $32.82 billion.
Its operations brought in $9.29 billion of cash; capital spending was $3.79 billion, leaving free cash flow of $5.50 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Union Pacific Corporation
Income Statement
Annual • USD
Union Pacific key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $24.5B | $24.3B | $24.1B | $24.9B | $21.8B |
| Gross profit | $11.2B | $19.3B | $18.6B | $19.0B | $10.5B |
| Operating income | $9.8B | $9.7B | $9.2B | $10.0B | $9.3B |
| Net income | $7.1B | $6.7B | $6.4B | $7.0B | $6.5B |
| Diluted EPS | $11.98 | – | – | – | $9.95 |
| Total assets | $69.7B | $67.7B | $67.1B | $65.4B | $63.5B |
| Total liabilities | $51.2B | $50.8B | $52.3B | $53.3B | $49.4B |
| Shareholders' equity | $18.5B | $16.9B | $14.8B | $12.2B | $14.2B |
| Cash and short-term investments | $1.5B | – | – | – | $1.0B |
| Total debt | $32.8B | $31.2B | $32.6B | $33.3B | $31.5B |
| Operating cash flow | $9.3B | $9.3B | $8.4B | $9.4B | $9.0B |
| Capital spending | $3.8B | – | – | – | $2.9B |
| Free cash flow | $5.5B | – | – | – | $6.1B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Union Pacific's revenue in fiscal year 2025?
$24.51 billion, up 1.1% from $24.25 billion in fiscal year 2024.
How much profit does Union Pacific make?
Union Pacific reported net income of $7.14 billion for fiscal year 2025 (29.1% of revenue); operating income was $9.85 billion.
How much cash and debt does Union Pacific have?
At the end of fiscal year 2025: cash and short-term investments of $1.52 billion and total debt of $32.82 billion.
What is Union Pacific's free cash flow?
$5.50 billion in fiscal year 2025 (operating cash flow of $9.29 billion minus capital spending of $3.79 billion).
