UNION PACIFIC CORP(UNP)Stock Analysis
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Rank #170 of 2,879 stocksTOP 10%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
UNP Stock Analysis & AI Quality Score
AI stock analysis and institutional research for UNION PACIFIC CORP (UNP), a Industrials sector company. 13F Pro's AI-powered ranking engine scores UNP at 74.0/100 on a 32-signal composite quality model, placing it at rank #170 of 2,879 stocks — the top 10% of the AI-ranked universe. UNP scores in the top quartile across revenue scale (94.2), profitability (89.8), balance sheet strength (86.4). Areas of concern include revenue growth (37.2), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), UNION PACIFIC CORP reports quarterly revenue of $6.2B, net income of $1.7B, an operating margin of 39.5%. Top institutional holders of UNP by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, Capital World Investors, based on the most recent SEC filings. UNP trades on the NYSE exchange and files with the SEC under CIK 100885. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate UNP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for UNION PACIFIC CORP directly from SEC EDGAR. UNION PACIFIC CORP's 13F Pro composite quality score has ranged between 8 and 76 since 2021, currently 74.0 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving UNP's Business? Latest 10-Q Breakdown
✓ 17/17 datapoints verifiedAI-extracted from UNION PACIFIC CORP's 10-Q filed 2026-04-23 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Union Pacific reported Q1 2026 net income of $1.7B (+4.6% YoY) on total operating revenues of $6.2B (+3% YoY), with operating ratio improving 0.2 points to 60.5%.
Biggest Revenue Drivers
Total revenue: $6.2B+3% YoY
Core pricing gains, higher fuel surcharge revenues, and favorable business mix offset 1% lower carloads.
Within Freight revenues
12% volume growth in grain exports and coal shipments driven by higher coal usage for electricity generation.
4% carload growth from industrial chemicals, plastics, and construction materials demand.
9% lower volumes driven by 28% decline in international intermodal and lower automotive shipments.
Includes accessorial and subsidiary revenues; decrease from Metra commuter transfer and lower intermodal logistics demand.
Largest Expense Items
Wage inflation and higher incentive compensation costs, partially offset by lower employee levels.
Higher locomotive diesel fuel prices (averaged $2.69/gallon vs. $2.51) and increased gross ton-miles, partially offset by 4% fuel consumption rate improvement.
Higher depreciable asset base from capital investments.
Acquisition-related expenses and inflation, offset by lower locomotive productivity-related costs.
Margins: Operating ratio improved 0.2 points to 60.5% driven by productivity gains and core pricing, partially offset by inflation and $36M of Norfolk Southern acquisition-related expenses. Gross ton-miles increased 4% while carloads declined 1%, reflecting mix shift toward heavier commodities (coal, grain).
Watch Items from the Filing
- Pending Norfolk Southern acquisition represents ~$20B cash consideration plus ~225M shares; STB rejected initial application as incomplete on January 16, 2026; revised application to be filed April 30, 2026; completion expected 2027.
- International intermodal carloads declined 28% YoY in Q1 2026 due to elevated West Coast imports in prior year not recurring; represents 9% of total carloads.
- Mexico revenues represent 11.7% of total freight revenue ($729M out of $6.2B) and grew only 1% YoY despite 3% volume growth, indicating pricing pressure on cross-border lanes.
- Personal injury FELA liability estimated range of $406M–$523M; company records at low end ($406M accrued at Q1 2026); costs subject to litigation trends.
- Environmental remediation liability includes 346 identified sites, 29 under U.S. government action and 17 on Superfund National Priorities List; reasonably possible future settlement range unavailable but current accrual is $262M.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$6.2B
Net Income
Q1 2026
$1.7B
Free Cash Flow
Q1 2026
$1.5B
Operating Margin
Q1 2026
39.5%
D/E Ratio
Q1 2026
1.58
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+1.1% YoYNet Income
+5.8% YoYOperating Income
+1.4% YoYEPS (Diluted)
+8.0% YoYTotal Assets
+2.9% YoYTotal Debt
+2.2% YoYOp. Cash Flow
-0.6% YoY| Metric | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $24.51B +1.1% | $24.25B -2.5% | $24.88B +14.1% | $21.80B +11.6% | $19.53B -10.0% | $21.71B |
| Net Income | $7.14B +5.8% | $6.75B -3.6% | $7.00B +7.3% | $6.52B +21.9% | $5.35B -9.6% | $5.92B |
| Operating Income | $9.85B +1.4% | $9.71B -2.1% | $9.92B +6.2% | $9.34B +19.2% | $7.83B -8.4% | $8.55B |
| EPS (Diluted) | $11.98 +8.0% | $11.09 -1.1% | $11.21 +12.7% | $9.95 +26.3% | $7.88 -6.0% | $8.38 |
| Total Assets | $69.70B +2.9% | $67.72B +3.5% | $65.45B +3.0% | $63.52B +1.8% | $62.40B +1.2% | $61.67B |
| Total Debt | $33.33B +2.2% | $32.62B -6.8% | $35.00B +9.7% | $31.89B +14.7% | $27.80B +5.1% | $26.46B |
| Operating Cash Flow | $9.29B -0.6% | $9.35B -0.2% | $9.36B +3.7% | $9.03B +5.8% | $8.54B -0.8% | $8.61B |
AI Insight: UNP Financial Trends
Union Pacific stabilized operating margins above 39% while cutting debt by $2.7B year-over-year, but Q1 2026 net income declined 3% sequentially.
• Operating margin held steady at 39.5% in Q1 2026 vs. 39.4% in Q4 2025, maintaining resilience after Q1 2025 dip to 39.3%.
• Total debt fell $2.7B from $33.3B in Q4 2025 to $30.7B in Q1 2026, strongest balance-sheet improvement in 18 months.
• Revenue grew 2.2% year-over-year ($6,027M Q1 2025 to $6,217M Q1 2026), though Q4 2025 seasonal softness persists.
⚠ Net income declined 7.7% from $1,876M in Q2 2025 peak to $1,701M in Q1 2026; monitor if seasonal or structural.
⚠ Operating cash flow volatile—$2,440M in Q1 2026 vs. $2,225M in Q4 2025; no clear strengthening trend.
AI Insight: UNP Ratio Trends
Operating margin stability masks deteriorating Q1 2026 returns; leverage has tightened but ROIC remains under pressure.
• Operating margin held steady at 39.5% in Q1 2026, consistent with Q4 2025, maintaining 40%+ average across trailing twelve months.
• Debt-to-equity improved to 1.58 in Q1 2026 from 1.81 in Q4 2025, lowest level since TTM inception, strengthening balance sheet.
• ROE collapsed to 35.0% in Q1 2026 from 40.0% in Q4 2025; ROA fell to 9.8% from 10.6%, signaling earnings contraction.
⚠ ROIC declined to 19.6% in Q1 2026 from 20.8% in Q3 2025; first sub-20% quarter since Q1 2025 signals capital efficiency weakness.
⚠ Net profit margin fell to 27.4% in Q1 2026 from 30.4% in Q4 2025, reversing prior-year strength despite stable operating margin.
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Top Institutional Holders of UNP
BlackRock, Inc.
$11.6B47,778,540 shVANGUARD CAPITAL MANAGEMENT LLC
$9.4B38,555,904 shCapital World Investors
$6.6B27,072,234 shSTATE STREET CORP
$6.5B26,587,866 shCapital Research Global Investors
$4.1B16,906,409 shGEODE CAPITAL MANAGEMENT, LLC
$3.8B15,862,607 shMORGAN STANLEY
$3.6B14,884,882 shBANK OF AMERICA CORP /DE/
$3.5B14,463,071 shVANGUARD PORTFOLIO MANAGEMENT LLC
$3.5B14,444,761 shInvesco Ltd.
$1.8B7,277,360 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $11.6B | 47,778,540 |
| VANGUARD CAPITAL MANAGEMENT LLC | $9.4B | 38,555,904 |
| Capital World Investors | $6.6B | 27,072,234 |
| STATE STREET CORP | $6.5B | 26,587,866 |
| Capital Research Global Investors | $4.1B | 16,906,409 |
| GEODE CAPITAL MANAGEMENT, LLC | $3.8B | 15,862,607 |
| MORGAN STANLEY | $3.6B | 14,884,882 |
| BANK OF AMERICA CORP /DE/ | $3.5B | 14,463,071 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3.5B | 14,444,761 |
| Invesco Ltd. | $1.8B | 7,277,360 |
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Popular Research
Is UNP a good stock to buy?
13F Pro's AI-powered analysis of UNION PACIFIC CORP (UNP) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for UNP are available on the UNP stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own UNP?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling UNP. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of UNION PACIFIC CORP's investment landscape.