# Union Pacific Corp. (UNP) — Stock CV

Union Pacific Corp. is a $167B industrial company. Revenue grew 4.2% over the last year, it keeps 29¢ of every dollar of sales as profit, and its net debt equals ~4.7 years of free cash flow. It trades at 22.6× earnings — in the most expensive third of its own history.

> Omaha, Nebraska-based Union Pacific is the largest public railroad in North America.

## Identity

- **Ticker**: UNP
- **Sector**: Industrials
- **Industry**: Railroads, Line-Haul Operating
- **Headquarters**: OMAHA, NE
- **Employees**: 28 716
- **Website**: https://www.up.com
- **Market cap**: $167B
- **Last price**: $280.74
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $25.4B
- **Net income**: $7.33B
- **Free cash flow**: $6.50B
- **Net debt**: $30.5B
- **P/E**: 22.6
- **Revenue growth (YoY)**: 4.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 41 |
| Growth | 36 |
| Profitability | 87 |
| Health | 29 |
| Quality | 94 |
| Moat | 88 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +4.2% YoY
- [x] Profitable — $7.33B TTM
- [x] Profit growing — +2.2% YoY
- [x] Generates cash — $6.50B TTM
- [x] Debt under control — ~4.7y of cash flow to repay
- [x] Established company — $167B market cap
- [x] Not printing shares — -12.3% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 24/100
- [x] Pays a dividend — yield 1.98%
- [x] Valuation not extreme — P/E 22.6

## Experience (career milestones)

- **FY2017** — Best year on record: $10.7B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $19.9B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2005** — The company was acquired by United Parcel Service for $1.3 billion
- **2003** — Union Pacific completed a corporate spin-off and initial public offering of Overnite
- **2000** — Anadarko Petroleum acquired Union Pacific Resources in 2000 for $4.4 billion in stock
- **1996** — Union Pacific completed the corporate spin-off of Union Pacific Resources, its hydrocarbon exploration subsidiary,…
- **1995** — The company acquired the 70% of Chicago and North Western Transportation Company that it did not…
- **1986** — The company acquired Overnite Transportation Company (now TForce Freight) for $1.2 billion
- **1982** — Union Pacific Corporation acquired Missouri Pacific Railroad
- **1893** — The Union Pacific Railway declared bankruptcy during the Panic of 1893, in part due to losses from the fraud and new…
- **1864** — Union Pacific was entangled in the Crédit Mobilier scandal, a fraud involving the company
- **1862** — After the passage of the Pacific Railway Acts, an entity called Union Pacific Railroad was…

## Strengths

- High gross margin (78.3%)
- Strongly profitable — 28.8% net margin
- Strong cash conversion — FCF is 25.6% of revenue
- Interest covered 8.3× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $21.8B | $6.52B | $6.10B |
| FY2022 | $24.9B | $7.00B | $5.74B |
| FY2023 | $24.1B | $6.38B | $4.77B |
| FY2024 | $24.3B | $6.75B | $5.89B |
| FY2025 | $24.5B | $7.14B | $5.50B |

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Source: https://stockcv.com/UNP — derived from company filings; may be delayed or incomplete. Information, not investment advice.