Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Union Pacific Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Overall, the company’s total assets exhibited a general upward trend throughout the observed period, from March 31, 2021, to December 31, 2025. While fluctuations occurred within each year, the asset base consistently expanded, indicating growth in the company’s resources. The most significant increases were observed in long-term assets, primarily driven by properties, net.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated volatility. A decrease was noted from March 31, 2021, to December 31, 2021, followed by an increase in 2022. Subsequent quarters showed further fluctuations, with a peak in March 31, 2025, before declining again by June 30, 2025. This suggests active cash management and potentially strategic deployment of funds.
- Accounts Receivable, Net
- Accounts receivable, net, generally increased from March 31, 2021, to December 31, 2023, indicating growing sales on credit. A slight decrease was observed in the first half of 2024, followed by a recovery and stabilization in the latter half of 2024 and the first half of 2025. This pattern suggests a relatively stable collection process.
- Materials and Supplies
- Materials and supplies remained relatively stable, with minor fluctuations throughout the period. A slight increase was observed towards the end of the period, potentially indicating preparation for increased operational activity.
- Other Current Assets
- Other current assets showed a notable increase, particularly from September 30, 2024, to December 31, 2025. This substantial rise warrants further investigation to determine the underlying components and their impact on liquidity.
- Current Assets
- Current assets mirrored the trends of its components, exhibiting overall growth with some quarterly variations. The increase in other current assets significantly contributed to the overall growth in current assets towards the end of the period.
- Investments
- Investments demonstrated a consistent, albeit modest, upward trend throughout the period. This suggests a long-term investment strategy and a commitment to capital allocation.
- Properties, Net
- Properties, net, constituted the largest portion of the company’s assets and exhibited a steady and substantial increase over the observed period. This growth likely reflects ongoing investments in infrastructure and capacity expansion. The consistent increase suggests a long-term commitment to physical assets.
- Operating Lease Assets
- Operating lease assets generally decreased over the period, indicating a potential shift away from lease-based financing or the amortization of existing lease assets. The decline was most pronounced in the later years of the observation period.
- Other Assets
- Other assets showed a gradual increase, with a more significant jump towards the end of the period. Similar to other current assets, this increase merits further scrutiny to understand its composition and implications.
- Long-Term Assets
- Long-term assets were the primary driver of the overall asset growth, largely due to the consistent increase in properties, net. The steady expansion of long-term assets suggests a long-term investment horizon and a focus on building a robust asset base.
In conclusion, the company’s asset base experienced consistent growth, primarily driven by investments in properties, net. Fluctuations were observed in current asset components, particularly cash and other current assets, suggesting active financial management. The increases in other current assets and other assets towards the end of the period warrant further investigation to fully understand their nature and impact.