Stock Analysis on Net
Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

$24.99

Net Profit Margin
since 2005

Microsoft Excel

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Calculation

Union Pacific Corp., net profit margin, long-term trends, calculation

Microsoft Excel
Net profit margin = 100 × Net income1 ÷ Operating revenues1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
Dec 31, 2014 = 100 × ÷
Dec 31, 2013 = 100 × ÷
Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷
Dec 31, 2009 = 100 × ÷
Dec 31, 2008 = 100 × ÷
Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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 net profit margin exhibited a generally positive trend from 2005 through 2025, although with significant fluctuations. Initial values were in the mid-single digits, increasing consistently to reach a peak in the latter half of the period. A particularly notable surge occurred in 2017, followed by a return to more moderate levels, and then a subsequent rise again towards the end of the analyzed timeframe.

Overall Trend
From 2005 to 2017, the net profit margin demonstrated a consistent upward trajectory, increasing from 7.56% to 50.43%. This represents a substantial improvement in profitability. Following the peak in 2017, the margin experienced a considerable decline to 26.13% in 2018, before stabilizing and gradually increasing again.
Early Growth Phase (2005-2010)
Between 2005 and 2010, the net profit margin increased from 7.56% to 16.39%. This period reflects a steady improvement in the company’s ability to convert revenue into profit. The rate of increase accelerated in the later years of this phase.
Continued Improvement (2011-2016)
The years 2011 through 2016 saw continued growth in the net profit margin, rising from 16.83% to 21.88%. While the rate of increase slowed compared to the previous period, the margin consistently remained above 16%, indicating sustained profitability.
Exceptional Performance & Subsequent Adjustment (2017-2019)
2017 marked a significant outlier with a net profit margin of 50.43%, substantially higher than any other year in the analyzed period. This was followed by a decrease to 26.13% in 2018 and 27.27% in 2019. This suggests a potentially non-recurring event or a significant change in the company’s cost structure or revenue mix in 2017, followed by a correction in subsequent years.
Recent Performance (2020-2025)
From 2020 to 2025, the net profit margin fluctuated between approximately 27% and 30%. This indicates a period of relative stability in profitability, with the margin remaining at a healthy level. The final recorded value in 2025 is 29.12%, slightly higher than the value in 2020.

In summary, the net profit margin demonstrates a long-term positive trend, punctuated by a substantial peak in 2017 and a subsequent adjustment. The recent period (2020-2025) suggests a stabilization of profitability at a consistently strong level.

Comparison to Competitors

Union Pacific Corp., net profit margin, long-term trends, comparison to competitors

Microsoft Excel
Union Pacific Corp. FedEx Corp. Uber Technologies Inc. United Airlines Holdings Inc. United Parcel Service Inc.
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
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Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
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Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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., net profit margin, long-term trends, comparison to sector (transportation)

Microsoft Excel
Union Pacific Corp. Transportation
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
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Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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., net profit margin, long-term trends, comparison to industry (industrials)

Microsoft Excel
Union Pacific Corp. Industrials
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
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Dec 31, 2017
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Dec 31, 2005

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).