Stock Analysis on Net
Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Common-Size Balance Sheet: Assets 

Union Pacific Corp., common-size consolidated balance sheet: assets

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents 1.50 1.57 1.49 1.51 2.88
Short-term investments 0.03 0.02 0.07 0.07 0.10
Accounts receivable, net 2.80 3.09 2.89 2.71 2.41
Materials and supplies 1.14 1.11 1.13 0.98 1.02
Other current assets 0.48 0.39 0.46 0.32 0.34
Current assets 5.94% 6.18% 6.04% 5.59% 6.75%
Investments 3.93 3.88 3.63 3.53 3.47
Properties, net 86.16 85.50 85.62 86.38 86.80
Operating lease assets 1.92 2.45 2.55 2.81 2.58
Other assets 2.05 1.99 2.16 1.69 0.40
Long-term assets 94.06% 93.82% 93.96% 94.41% 93.25%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets decreased from 2.88% in 2020 to about 1.5% in 2024, showing a declining trend primarily between 2020 and 2021 with stabilization thereafter.
Short-term Investments
Short-term investments consistently represented a very small share of total assets, decreasing slightly from 0.10% in 2020 to 0.03% in 2024, indicating minimal allocation to this asset category.
Accounts Receivable, Net
The share of accounts receivable relative to total assets showed a steady increase from 2.41% in 2020 to a peak of 3.09% in 2023, with a slight drop to 2.8% in 2024, suggesting a general growth in receivable balances over the period.
Materials and Supplies
Materials and supplies as a percentage of total assets remained relatively stable around 1%, with a minor increase from 1.02% in 2020 to 1.14% in 2024, demonstrating little fluctuation and stable inventory investment levels.
Other Current Assets
This category displayed a slight upward trend, rising from 0.34% in 2020 to 0.48% in 2024, although with minor fluctuations, indicating incremental growth in miscellaneous current asset components.
Current Assets
The combined current assets decreased from 6.75% to 5.94% of total assets between 2020 and 2024, with the lowest point in 2021 at 5.59%, reflecting a modest decline in the liquidity portion of the asset structure.
Investments
Longer-term investments showed a gradual increase over time, from 3.47% in 2020 to 3.93% in 2024, indicating a slight shift toward higher investment holdings within total assets.
Properties, Net
The net properties asset category consistently comprised the majority of total assets, holding around 86% throughout the period, with a minor dip to 85.5% in 2023 but recovering to 86.16% in 2024, reflecting the company's asset-heavy investment landscape.
Operating Lease Assets
Operating lease assets decreased steadily from 2.58% in 2020 to 1.92% in 2024, showing a reduction in leased asset holdings or lease capitalization over time.
Other Assets
Other assets exhibited an increase from 0.40% in 2020 to slightly above 2% starting in 2021 and remained stable through 2024, suggesting the incorporation or reclassification of additional asset types in this category.
Long-term Assets
The portion of long-term assets as a percentage of total assets stayed consistently high, ranging between 93.25% and 94.41% over the period, indicating a predominantly long-term capital structure.
Total Assets
Total assets naturally summed to 100% for all periods, serving as the constant denominator for relative measures reviewed.