PerpEquities

Equity · Industrials

Is Union Pacific Corporation (UNP) tradable as a perp? Not yet

Union Pacific operates a major US freight railroad (32,452 route miles) shipping agricultural, energy, industrial, automotive, and intermodal cargo.

Not yet listed on any perp exchange

No perpetual-futures venue lists UNP yet. We track it continuously; as soon as the first listing appears, this page becomes a full market page. Until then: fundamentals below and tradable alternatives.

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TradingView symbol NYSE:UNP

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Company data

Company fundamentals

Updated 1h ago
Market cap
$166B
Updated 1h ago
Revenue
$25.4B
Trailing 12 months
Revenue growth
+9%
Next fiscal year
Profit margin
+28.8%
P/E
22.6
Peer P/E 46.1
Free cash flow
$6.5B
Trailing 12 months
More metrics
Net income
$7.3B
Trailing 12 months
P/S
6.5
Peer P/E
46.1
Similar listed perps
Revenue estimate
$26.8B
Next fiscal year
Earnings
2026-10-22
Revenue est. $7B · Updated 1h ago
Dividend
$1.42
2026-08-31

Fundamental detail

Annual + quarterly
Latest revenue$24.5B
Net margin+29.1%
Free cash flow$5.5B
Net debt$30.5B
2020$19.5B
2021$21.8B
2022$24.9B
2023$24.1B
2024$24.3B
2025$24.5B
PeriodRevenueGrowthNet incomeFCF
2020$19.5B-10%$5.3B$5.6B
2021$21.8B+12%$6.5B$6.1B
2022$24.9B+14%$7B$5.7B
2023$24.1B-3%$6.4B$4.8B
2024$24.3B+1%$6.7B$5.9B
2025$24.5B+1%$7.1B$5.5B
PeriodGross marginOperating marginNet marginROEROA
2020+47.0%+40.1%+27.4%+31.5%+8.6%
2021+48.2%+42.8%+29.9%+46.1%+10.3%
2022+45.0%+39.9%+28.1%+57.5%+10.7%
2023+43.7%+37.7%+26.4%+43.1%+9.5%
2024+45.5%+40.1%+27.8%+39.9%+10.0%
2025+59.4%+40.1%+29.1%+38.7%+10.2%
PeriodCashDebtNet debtCurrent ratio
2020$1.8B$28.3B$26.5B1.01
2021$960M$31.5B$30.5B0.62
2022$973M$35B$34B0.72
2023$1.1B$34.2B$33.1B0.81
2024$1B$32.5B$31.4B0.77
2025$1.3B$31.8B$30.5B0.91
PeriodMarket capEnterprise valueP/SP/E
2020$141B$167.6B7.226.4
2021$164.7B$195.2B7.625.2
2022$128.9B$162.9B5.218.4
2023$149.6B$182.8B6.223.5
2024$138.6B$170B5.720.5
2025$137.1B$167.6B5.619.3
Q3 2024$6.1B
Q4 2024$6.1B
Q1 2025$6B
Q2 2025$6.2B
Q3 2025$6.2B
Q4 2025$6.1B
Q1 2026$6.2B
Q2 2026$6.9B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$6.1B+3%$1.7B$1.8B
Q4 2024$6.1B-1%$1.8B$1.7B
Q1 2025$6B0%$1.6B$1.3B
Q2 2025$6.2B+2%$1.9B$1.4B
Q3 2025$6.2B+3%$1.8B$1.6B
Q4 2025$6.1B-1%$1.8B$1.2B
Q1 2026$6.2B+3%$1.7B$1.5B
Q2 2026$6.9B+12%$2B$2.2B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+45.5%+39.6%+27.4%+10.1%+2.5%
Q4 2024+45.8%+41.3%+28.8%+10.4%+2.6%
Q1 2025+45.3%+39.3%+27.0%+10.1%+2.4%
Q2 2025+46.1%+40.9%+30.5%+11.5%+2.7%
Q3 2025+46.5%+40.8%+28.6%+10.3%+2.6%
Q4 2025+44.9%+39.2%+30.4%+10.0%+2.7%
Q1 2026+45.2%+39.4%+27.4%+8.8%+2.4%
Q2 2026+45.5%+40.3%+29.0%+9.6%+2.8%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$947M$32.7B$31.7B0.77
Q4 2024$1B$32.5B$31.4B0.77
Q1 2025$1.4B$33.9B$32.5B0.73
Q2 2025$1.1B$34B$32.9B0.65
Q3 2025$808M$32.8B$32B0.75
Q4 2025$1.3B$31.8B$30.5B0.91
Q1 2026$744M$31.5B$30.8B0.92
Q2 2026$1.6B$31.2B$29.6B0.99
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$149.8B$181.5B24.622.4
Q4 2024$138.6B$170B22.619.5
Q1 2025$142B$174.5B23.621.8
Q2 2025$136.7B$169.6B22.218.2
Q3 2025$140B$172.1B22.419.6
Q4 2025$137.1B$167.6B22.518.5
Q1 2026$143.9B$174.6B23.121.1
Q2 2026$161.4B$191B23.520.2

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$6.9BQ2 2026
$1.7B$3.4B$5.1B$6.9BQ3 2023: $5.9BQ4 2023: $6.2BQ1 2024: $6BQ2 2024: $6BQ3 2024: $6.1BQ4 2024: $6.1BQ1 2025: $6BQ2 2025: $6.2BQ3 2025: $6.2BQ4 2025: $6.1BQ1 2026: $6.2BQ2 2026: $6.9BQ3 2023Q2 2026
Net income$2BQ2 2026
$498.3M$996.5M$1.5B$2BQ3 2023: $1.5BQ4 2023: $1.7BQ1 2024: $1.6BQ2 2024: $1.7BQ3 2024: $1.7BQ4 2024: $1.8BQ1 2025: $1.6BQ2 2025: $1.9BQ3 2025: $1.8BQ4 2025: $1.8BQ1 2026: $1.7BQ2 2026: $2BQ3 2023Q2 2026
EBITDA$3.5BQ2 2026
$876.5M$1.8B$2.6B$3.5BQ3 2023: $2.9BQ4 2023: $3.1BQ1 2024: $3.1BQ2 2024: $3.1BQ3 2024: $3.1BQ4 2024: $3.2BQ1 2025: $3.1BQ2 2025: $3.3BQ3 2025: $3.3BQ4 2025: $3.4BQ1 2026: $3.2BQ2 2026: $3.5BQ3 2023Q2 2026
Free cash flow$2.2BQ2 2026
$550.8M$1.1B$1.7B$2.2BQ3 2023: $1.2BQ4 2023: $1.4BQ1 2024: $1.3BQ2 2024: $1BQ3 2024: $1.8BQ4 2024: $1.7BQ1 2025: $1.3BQ2 2025: $1.4BQ3 2025: $1.6BQ4 2025: $1.2BQ1 2026: $1.5BQ2 2026: $2.2BQ3 2023Q2 2026
EPS$3.36Q2 2026
$0.84$1.68$2.52$3.36Q3 2023: $2.51Q4 2023: $2.71Q1 2024: $2.69Q2 2024: $2.74Q3 2024: $2.75Q4 2024: $2.91Q1 2025: $2.7Q2 2025: $3.15Q3 2025: $3.01Q4 2025: $3.11Q1 2026: $2.87Q2 2026: $3.36Q3 2023Q2 2026
Cash / Debt$1.6BQ2 2026
$8.6B$17.2B$25.9B$34.5BQ3 2023 · Cash: $750MQ3 2023 · Debt: $34.5BQ4 2023 · Cash: $1.1BQ4 2023 · Debt: $34.2BQ1 2024 · Cash: $925MQ1 2024 · Debt: $33.3BQ2 2024 · Cash: $1.1BQ2 2024 · Debt: $33.2BQ3 2024 · Cash: $947MQ3 2024 · Debt: $32.7BQ4 2024 · Cash: $1BQ4 2024 · Debt: $32.5BQ1 2025 · Cash: $1.4BQ1 2025 · Debt: $33.9BQ2 2025 · Cash: $1.1BQ2 2025 · Debt: $34BQ3 2025 · Cash: $808MQ3 2025 · Debt: $32.8BQ4 2025 · Cash: $1.3BQ4 2025 · Debt: $31.8BQ1 2026 · Cash: $744MQ1 2026 · Debt: $31.5BQ2 2026 · Cash: $1.6BQ2 2026 · Debt: $31.2BQ3 2023Q2 2026
CashDebt
Profitability+45.5%Q2 2026
+11.6%+23.2%+34.8%+46.5%Q3 2023 · Gross margin: +43.0%Q4 2023 · Gross margin: +44.9%Q1 2024 · Gross margin: +45.1%Q2 2024 · Gross margin: +45.4%Q3 2024 · Gross margin: +45.5%Q4 2024 · Gross margin: +45.8%Q1 2025 · Gross margin: +45.3%Q2 2025 · Gross margin: +46.1%Q3 2025 · Gross margin: +46.5%Q4 2025 · Gross margin: +44.9%Q1 2026 · Gross margin: +45.2%Q2 2026 · Gross margin: +45.5%Q3 2023 · Operating margin: +36.6%Q4 2023 · Operating margin: +39.1%Q1 2024 · Operating margin: +39.3%Q2 2024 · Operating margin: +39.8%Q3 2024 · Operating margin: +39.6%Q4 2024 · Operating margin: +41.3%Q1 2025 · Operating margin: +39.3%Q2 2025 · Operating margin: +40.9%Q3 2025 · Operating margin: +40.8%Q4 2025 · Operating margin: +39.2%Q1 2026 · Operating margin: +39.4%Q2 2026 · Operating margin: +40.3%Q3 2023 · Net margin: +25.7%Q4 2023 · Net margin: +26.8%Q1 2024 · Net margin: +27.2%Q2 2024 · Net margin: +27.9%Q3 2024 · Net margin: +27.4%Q4 2024 · Net margin: +28.8%Q1 2025 · Net margin: +27.0%Q2 2025 · Net margin: +30.5%Q3 2025 · Net margin: +28.6%Q4 2025 · Net margin: +30.4%Q1 2026 · Net margin: +27.4%Q2 2026 · Net margin: +29.0%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+11.5%Q2 2026
+2.4%+5.5%+8.5%+11.5%Q3 2024: +2.5%Q4 2024: -0.6%Q1 2025: -0.1%Q2 2025: +2.4%Q3 2025: +2.5%Q4 2025: -0.6%Q1 2026: +3.2%Q2 2026: +11.5%Q3 2023Q2 2026
Shares outstanding594MQ2 2026
152.6M305.2M457.7M610.3MQ3 2023: 609.8MQ4 2023: 609.9MQ1 2024: 610.2MQ2 2024: 610.3MQ3 2024: 608.6MQ4 2024: 608.6MQ1 2025: 601.9MQ2 2025: 594.8MQ3 2025: 593.2MQ4 2025: 593.5MQ1 2026: 593.6MQ2 2026: 594MQ3 2023Q2 2026
Valuation20.2Q2 2026
6.112.318.424.6Q3 2023 · P/E: 20.3Q4 2023 · P/E: 22.7Q1 2024 · P/E: 22.6Q2 2024 · P/E: 20.4Q3 2024 · P/E: 22.4Q4 2024 · P/E: 19.5Q1 2025 · P/E: 21.8Q2 2025 · P/E: 18.2Q3 2025 · P/E: 19.6Q4 2025 · P/E: 18.5Q1 2026 · P/E: 21.1Q2 2026 · P/E: 20.2Q3 2023 · P/S: 20.9Q4 2023 · P/S: 24.3Q1 2024 · P/S: 24.6Q2 2024 · P/S: 22.8Q3 2024 · P/S: 24.6Q4 2024 · P/S: 22.6Q1 2025 · P/S: 23.6Q2 2025 · P/S: 22.2Q3 2025 · P/S: 22.4Q4 2025 · P/S: 22.5Q1 2026 · P/S: 23.1Q2 2026 · P/S: 23.5Q3 2023Q2 2026
P/EP/S
Revenue$24.5B2025
$6.2B$12.4B$18.7B$24.9B2018: $22.8B2019: $21.7B2020: $19.5B2021: $21.8B2022: $24.9B2023: $24.1B2024: $24.3B2025: $24.5B20182025
Net income$7.1B2025
$1.8B$3.6B$5.4B$7.1B2018: $6B2019: $5.9B2020: $5.3B2021: $6.5B2022: $7B2023: $6.4B2024: $6.7B2025: $7.1B20182025
EBITDA$12.9B2025
$3.2B$6.5B$9.7B$12.9B2018: $10.8B2019: $11B2020: $10.3B2021: $11.8B2022: $12.6B2023: $11.9B2024: $12.5B2025: $12.9B20182025
Free cash flow$5.5B2025
$1.5B$3B$4.6B$6.1B2018: $5.2B2019: $5.2B2020: $5.6B2021: $6.1B2022: $5.7B2023: $4.8B2024: $5.9B2025: $5.5B20182025
EPS$122025
$2.99$5.99$8.98$122018: $7.912019: $8.382020: $7.882021: $9.952022: $11.22023: $10.52024: $11.12025: $1220182025
Cash / Debt$1.3B2025
$8.7B$17.5B$26.2B$35B2018 · Cash: $1.3B2018 · Debt: $22.4B2019 · Cash: $831M2019 · Debt: $27B2020 · Cash: $1.8B2020 · Debt: $28.3B2021 · Cash: $960M2021 · Debt: $31.5B2022 · Cash: $973M2022 · Debt: $35B2023 · Cash: $1.1B2023 · Debt: $34.2B2024 · Cash: $1B2024 · Debt: $32.5B2025 · Cash: $1.3B2025 · Debt: $31.8B20182025
CashDebt
Profitability+59.4%2025
+14.8%+29.7%+44.5%+59.4%2018 · Gross margin: +41.8%2019 · Gross margin: +44.3%2020 · Gross margin: +47.0%2021 · Gross margin: +48.2%2022 · Gross margin: +45.0%2023 · Gross margin: +43.7%2024 · Gross margin: +45.5%2025 · Gross margin: +59.4%2018 · Operating margin: +37.3%2019 · Operating margin: +39.4%2020 · Operating margin: +40.1%2021 · Operating margin: +42.8%2022 · Operating margin: +39.9%2023 · Operating margin: +37.7%2024 · Operating margin: +40.1%2025 · Operating margin: +40.1%2018 · Net margin: +26.1%2019 · Net margin: +27.3%2020 · Net margin: +27.4%2021 · Net margin: +29.9%2022 · Net margin: +28.1%2023 · Net margin: +26.4%2024 · Net margin: +27.8%2025 · Net margin: +29.1%20182025
Gross marginOperating marginNet margin
Revenue growth+1.1%2025
-4.0%+2.0%+8.1%+14.1%2019: -4.9%2020: -10.0%2021: +11.6%2022: +14.1%2023: -3.0%2024: +0.5%2025: +1.1%20182025
Shares outstanding593.5M2025
188.6M377.2M565.7M754.3M2018: 754.3M2019: 706.1M2020: 679.1M2021: 655.4M2022: 624M2023: 610.2M2024: 608.6M2025: 593.5M20182025
Valuation19.32025
6.613.219.826.42018 · P/E: 17.42019 · P/E: 21.52020 · P/E: 26.42021 · P/E: 25.22022 · P/E: 18.42023 · P/E: 23.52024 · P/E: 20.52025 · P/E: 19.32018 · P/S: 4.52019 · P/S: 5.92020 · P/S: 7.22021 · P/S: 7.62022 · P/S: 5.22023 · P/S: 6.22024 · P/S: 5.72025 · P/S: 5.620182025
P/EP/S

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202613.08$26.8B+9%16
FY 202714.17$28.2B+15%15
FY 202815.72$31.7B+29%6
FY 202918.26$35.2B+44%3
FY 203020.24$39B+59%2
Q1 20283.56$8.4B+34%6

Company events

6
2026-10-22EarningsActual - / Estimate 3.43-
2026-08-31Dividend$1.42-
2026-07-23EarningsActual 3.41 / Estimate 3.26Beat
2026-05-29Dividend$1.38-
2026-04-23EarningsActual 2.93 / Estimate 2.86Beat
2026-02-27Dividend$1.38-

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
ETN$164.9B5.543.1+12.8%2BA$156.7B1.774.2+2.6%4DE$184.6B3.937.9+10.2%2LMT$123.2B1.619.6+8.2%6VRT$96B8.455.2+15.1%13PWR$95.7B2.972.0+4.1%1GD$95.5B1.721.2+8.2%2HWM$91.9B10.149.2+20.5%1

Analyst track record

How the analysts covering UNP have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings150409
Analysts2940
Buy / hold / sell120 / 30 / 0303 / 104 / 2
Upgrades / downgrades / initiations3 / 3 / 613 / 9 / 11
Price targets hit / missed57 / 87 (40%)291 / 107 (73%)
Avg. return after a rating (TipRanks)-3.2%+4.9%
Best / worst call+15.3% / -22.2%+41.2% / -22.2%

After buy calls on this stock: median 21-day move +1.8% vs S&P 500 -1.1% (n = 295)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Jason SeidlTD Cowen80% hit rate on this stock · 15 targets measuredBuytarget $325Jul 24, 2026
  2. Patrick BrownRaymond James56% hit rate on this stock · 9 targets measuredBuytarget $363Jul 13, 2026
  3. David VernonBernstein53% hit rate on this stock · 15 targets measuredBuytarget $346Jul 27, 2026

Latest ratings

DateAnalystCallTarget
Sep 16, 2026Thomas WadewitzUBSBuyUpgraded$339article ↗
Sep 3, 2026Varun GovindarajBernsteinBuyMaintained$346article ↗
Sep 3, 2026Alex IrvingBernsteinBuyMaintained$346
Aug 27, 2026Stephan LingnauErste GroupBuyInitiated–article ↗
Aug 26, 2026Ken HoexterBank of America SecuritiesBuyMaintained$343article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$220$240$260$280$300$320$340Oct 25 · Buy 13 · Hold 8 · Sell 0Oct 25Nov 25 · Buy 13 · Hold 8 · Sell 0Dec 25 · Buy 12 · Hold 9 · Sell 0Dec 25Jan 26 · Buy 11 · Hold 8 · Sell 0Feb 26 · Buy 11 · Hold 7 · Sell 0Feb 26Mar 26 · Buy 14 · Hold 5 · Sell 0Apr 26 · Buy 14 · Hold 4 · Sell 0Apr 26May 26 · Buy 15 · Hold 4 · Sell 0Jun 26 · Buy 17 · Hold 4 · Sell 0Jun 26Jul 26 · Buy 20 · Hold 5 · Sell 0Aug 26 · Buy 21 · Hold 5 · Sell 0Aug 26Sep 26 · Buy 22 · Hold 4 · Sell 0Oct 25 · avg. target $262Nov 25 · avg. target $262Dec 25 · avg. target $262Jan 26 · avg. target $263Feb 26 · avg. target $266Mar 26 · avg. target $274Apr 26 · avg. target $293May 26 · avg. target $295Jun 26 · avg. target $300Jul 26 · avg. target $333Aug 26 · avg. target $334Sep 26 · avg. target $337Oct 25 · month-end close $220Nov 25 · month-end close $232Dec 25 · month-end close $231Jan 26 · month-end close $235Feb 26 · month-end close $265Mar 26 · month-end close $243Apr 26 · month-end close $269May 26 · month-end close $263Jun 26 · month-end close $272Jul 26 · month-end close $292Aug 26 · month-end close $301Sep 26 · month-end close $282

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 18, 2026 · 150 ratings