Current Ratio
since 2005
Calculation
Union Pacific Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.91 | = | 4,555) | ÷ | 5,014) |
| Dec 31, 2024 | 0.77 | = | 4,021) | ÷ | 5,254) |
| Dec 31, 2023 | 0.81 | = | 4,148) | ÷ | 5,106) |
| Dec 31, 2022 | 0.72 | = | 3,952) | ÷ | 5,520) |
| Dec 31, 2021 | 0.62 | = | 3,551) | ÷ | 5,744) |
| Dec 31, 2020 | 1.01 | = | 4,214) | ÷ | 4,173) |
| Dec 31, 2019 | 0.79 | = | 3,459) | ÷ | 4,351) |
| Dec 31, 2018 | 0.90 | = | 4,163) | ÷ | 4,626) |
| Dec 31, 2017 | 1.02 | = | 4,006) | ÷ | 3,939) |
| Dec 31, 2016 | 0.99 | = | 3,596) | ÷ | 3,640) |
| Dec 31, 2015 | 1.29 | = | 4,130) | ÷ | 3,206) |
| Dec 31, 2014 | 1.24 | = | 4,679) | ÷ | 3,765) |
| Dec 31, 2013 | 1.05 | = | 3,990) | ÷ | 3,791) |
| Dec 31, 2012 | 1.16 | = | 3,614) | ÷ | 3,119) |
| Dec 31, 2011 | 1.12 | = | 3,727) | ÷ | 3,317) |
| Dec 31, 2010 | 1.16 | = | 3,432) | ÷ | 2,952) |
| Dec 31, 2009 | 1.37 | = | 3,680) | ÷ | 2,682) |
| Dec 31, 2008 | 0.98 | = | 2,813) | ÷ | 2,880) |
| Dec 31, 2007 | 0.85 | = | 2,594) | ÷ | 3,041) |
| Dec 31, 2006 | 0.68 | = | 2,411) | ÷ | 3,539) |
| Dec 31, 2005 | 0.69 | = | 2,325) | ÷ | 3,384) |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The current ratio exhibited considerable fluctuation between 2005 and 2025. Initially, the ratio was below one, indicating potential short-term liquidity concerns. However, a notable improvement occurred between 2007 and 2015, followed by a period of instability and a subsequent decline towards the end of the analyzed period.
- Initial Period (2005-2007)
- From 2005 to 2007, the current ratio increased from 0.69 to 0.85. This suggests a gradual improvement in the ability to cover short-term liabilities with short-term assets, though it remained below the generally accepted benchmark of 1.0.
- Improvement and Stability (2008-2015)
- Between 2008 and 2015, the current ratio demonstrated a significant upward trend, peaking at 1.37 in 2009. This period reflects a strengthening of the short-term financial position. The ratio generally remained above 1.0 during this timeframe, indicating a comfortable liquidity position. A slight decrease was observed between 2015 and 2016, but remained near 1.0.
- Decline and Volatility (2016-2025)
- From 2016 onwards, the current ratio experienced increased volatility. It decreased to 0.99 in 2016, then fluctuated before reaching a low of 0.62 in 2021. A modest recovery occurred in 2022 and 2023, but the ratio remained below 0.80. The final year analyzed, 2025, showed a slight increase to 0.91, but still represents a weaker liquidity position compared to the period between 2008 and 2015.
- Long-Term Trend
- Over the entire period, the current ratio demonstrates a cyclical pattern. An initial weakness was followed by a period of strength, and then a subsequent decline and increased volatility. The ratio’s movement suggests changes in working capital management or shifts in the timing of current asset and liability payments.
The fluctuations in the current ratio warrant further investigation to understand the underlying drivers. A consistent decline in the ratio could indicate increasing liquidity risk, while periods of high ratios might suggest inefficient utilization of current assets.
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Comparison to Competitors
Union Pacific Corp., current ratio, long-term trends, comparison to competitors
| Union Pacific Corp. | FedEx Corp. | Uber Technologies Inc. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.91 | 1.19 | 1.14 | 0.65 | 1.22 |
| Dec 31, 2024 | 0.77 | 1.36 | 1.07 | 0.81 | 1.17 |
| Dec 31, 2023 | 0.81 | 1.37 | 1.19 | 0.83 | 1.10 |
| Dec 31, 2022 | 0.72 | 1.43 | 1.04 | 1.00 | 1.22 |
| Dec 31, 2021 | 0.62 | 1.51 | 0.98 | 1.19 | 1.42 |
| Dec 31, 2020 | 1.01 | 1.58 | 1.44 | 1.16 | 1.19 |
| Dec 31, 2019 | 0.79 | 1.45 | 2.47 | 0.55 | 1.11 |
| Dec 31, 2018 | 0.90 | 1.39 | — | 0.54 | 1.15 |
| Dec 31, 2017 | 1.02 | 1.59 | — | 0.56 | 1.22 |
| Dec 31, 2016 | 0.99 | 1.50 | — | 0.59 | 1.18 |
| Dec 31, 2015 | 1.29 | 1.84 | — | 0.63 | 1.23 |
| Dec 31, 2014 | 1.24 | 1.82 | — | 0.65 | 1.37 |
| Dec 31, 2013 | 1.05 | 1.96 | — | 0.72 | 1.88 |
| Dec 31, 2012 | 1.16 | 1.69 | — | 0.78 | 1.86 |
| Dec 31, 2011 | 1.12 | 1.70 | — | 0.97 | 1.89 |
| Dec 31, 2010 | 1.16 | 1.57 | — | 0.95 | 1.96 |
| Dec 31, 2009 | 1.37 | 1.57 | — | 0.79 | 1.49 |
| Dec 31, 2008 | 0.98 | 1.35 | — | 0.67 | 1.13 |
| Dec 31, 2007 | 0.85 | 1.22 | — | 0.76 | 1.20 |
| Dec 31, 2006 | 0.68 | 1.18 | — | 0.79 | 1.40 |
| Dec 31, 2005 | 0.69 | 1.11 | — | 0.81 | 1.62 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Transportation)
Union Pacific Corp., current ratio, long-term trends, comparison to sector (transportation)
| Union Pacific Corp. | Transportation | |
|---|---|---|
| Dec 31, 2025 | 0.91 | 0.98 |
| Dec 31, 2024 | 0.77 | 1.04 |
| Dec 31, 2023 | 0.81 | 1.06 |
| Dec 31, 2022 | 0.72 | 1.14 |
| Dec 31, 2021 | 0.62 | 1.24 |
| Dec 31, 2020 | 1.01 | 1.28 |
| Dec 31, 2019 | 0.79 | 1.13 |
| Dec 31, 2018 | 0.90 | 0.98 |
| Dec 31, 2017 | 1.02 | 1.06 |
| Dec 31, 2016 | 0.99 | 1.03 |
| Dec 31, 2015 | 1.29 | 1.12 |
| Dec 31, 2014 | 1.24 | 1.14 |
| Dec 31, 2013 | 1.05 | 1.30 |
| Dec 31, 2012 | 1.16 | 1.29 |
| Dec 31, 2011 | 1.12 | 1.35 |
| Dec 31, 2010 | 1.16 | 1.31 |
| Dec 31, 2009 | 1.37 | 1.26 |
| Dec 31, 2008 | 0.98 | 1.02 |
| Dec 31, 2007 | 0.85 | 1.03 |
| Dec 31, 2006 | 0.68 | 1.04 |
| Dec 31, 2005 | 0.69 | 1.13 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Union Pacific Corp., current ratio, long-term trends, comparison to industry (industrials)
| Union Pacific Corp. | Industrials | |
|---|---|---|
| Dec 31, 2025 | 0.91 | 1.13 |
| Dec 31, 2024 | 0.77 | 1.19 |
| Dec 31, 2023 | 0.81 | 1.16 |
| Dec 31, 2022 | 0.72 | 1.20 |
| Dec 31, 2021 | 0.62 | 1.29 |
| Dec 31, 2020 | 1.01 | 1.41 |
| Dec 31, 2019 | 0.79 | 1.16 |
| Dec 31, 2018 | 0.90 | 1.13 |
| Dec 31, 2017 | 1.02 | 1.24 |
| Dec 31, 2016 | 0.99 | 1.22 |
| Dec 31, 2015 | 1.29 | 1.24 |
| Dec 31, 2014 | 1.24 | 1.26 |
| Dec 31, 2013 | 1.05 | 1.33 |
| Dec 31, 2012 | 1.16 | 1.30 |
| Dec 31, 2011 | 1.12 | 1.30 |
| Dec 31, 2010 | 1.16 | 1.28 |
| Dec 31, 2009 | 1.37 | 1.23 |
| Dec 31, 2008 | 0.98 | 1.06 |
| Dec 31, 2007 | 0.85 | 1.07 |
| Dec 31, 2006 | 0.68 | 1.05 |
| Dec 31, 2005 | 0.69 | 1.05 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).