Union Pacific (UNP): analysis in plain words
Is Union Pacific cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Union Pacific (UNP) is listed on the NYSE and we classify it in industrials. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Union Pacific according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Union Pacific (UNP) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $308.53 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 24.1x | Price over earnings per share |
| Revenue growth | +15.3% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 28.9% | Profit for every 100 of sales |
| Net debt / EBITDA | 2.1x | Years of operating profit to repay debt |
| Dividend yield | 1.87% | Annual dividend over price |
| Market cap | $183.3 billion | What the stock market values it at |
The Union Pacific figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any UNP figure that is not available shows as N/A: we do not estimate it.
How Union Pacific makes money
Union Pacific runs a large freight railroad across the western United States and earns money hauling goods. It splits freight revenue into three groups: Bulk, including grain, fertilizer and coal; Industrial, such as chemicals, plastics, metals and building materials; and Premium, covering intermodal containers and finished vehicles, with links to Mexico and Canada.
Over the last 12 months, Union Pacific brought in revenue of $26.4 billion. For every 100 it sells, Union Pacific keeps 55.8 after the direct cost of what it sells (gross margin) and 41.3 after all operating costs (operating margin). With 28,658 full-time employees, that is about $920,000 of revenue per employee.
Union Pacific against its sector
To know whether a Union Pacific figure is high or low you have to put it next to similar companies. This table compares Union Pacific with the median of the 20 industrials companies Fintols covers, with data as of November 4, 2026.
| Figure | Union Pacific | industrials median |
|---|---|---|
| P/E | 24.1x | 27.3x (20) |
| Revenue growth | +15.3% | +9.8% (20) |
| Net margin | 28.9% | 13.0% (20) |
| Dividend yield | 1.87% | 1.60% (20) |
| Net debt / EBITDA | 2.1x | 2.1x (20) |
In short, against the typical industrials company, Union Pacific grows faster, earns a wider margin and pays a higher dividend yield. By size, Union Pacific ranks number 2 of 15 industrials companies quoted in USD on Fintols.
The bull case for Union Pacific
These are the strengths in the Union Pacific figures as of November 4, 2026:
- Its net margin over the last 12 months is 28.9% (sector median: 13.0%): Union Pacific turns a large share of its sales into profit.
- Union Pacific earns 38.7% a year on its shareholders' money (return on equity).
- Union Pacific is selling more than a year ago: +15.3% in its latest quarter (the typical industrials company grew +9.8%).
The main risk for Union Pacific
The Union Pacific figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: the economic cycle: when industry and trade slow, its orders fall.
Frequently asked questions about Union Pacific
Is it a good time to buy Union Pacific stock?
Fintols does not tell you whether to buy or sell Union Pacific, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Union Pacific stock trades at $308.53, 2% below its 52-week high ($315.99) and 43% above its low ($216.32). Its P/E is 24.1x against a industrials median of 27.3x, and 21.4x on the earnings analysts expect over the next 12 months. With Union Pacific, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Union Pacific pay a dividend?
Yes. As of November 4, 2026, Union Pacific pays $5.68 per share a year, which at today's price is a yield of 1.87%. It uses 43% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 2.19%. The industrials median on Fintols is 1.60%.
Is Union Pacific stock expensive?
It depends on what you compare it with. On P/E, Union Pacific trades at 24.1x its last 12 months of earnings: in line with the industrials median (27.3x). Including its debt, Union Pacific is valued at 15.7x its EBITDA (EV/EBITDA). A high P/E alone does not make Union Pacific expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Union Pacific's competitors?
On Fintols we compare Union Pacific with Caterpillar, John Deere and Honeywell, which are also in industrials. As of November 4, 2026, Caterpillar is worth $271.8 billion and trades on a P/E of 23.2; John Deere is worth $182.4 billion and trades on a P/E of 37.6; Honeywell is worth $72.4 billion and trades on a P/E of 11.3. Each has a side-by-side comparison with Union Pacific below.
Union Pacific competitors
- Caterpillar (CAT) analysis · Union Pacific vs Caterpillar comparison
- John Deere (DE) analysis · Union Pacific vs John Deere comparison
- Honeywell (HON) analysis · Union Pacific vs Honeywell comparison
To understand Union Pacific better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Union Pacific: industrials stocks, S&P 500 companies and S&P 100 companies. Open the full UNP analysis with its valuation and scenarios. Educational content about Union Pacific, not investment advice.