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, 2024 = 100 × ÷
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Dec 31, 2020 = 100 × ÷
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Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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), 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

Net income
Net income demonstrated a general upward trend from 2005 through 2014, increasing from $1,026 million to a peak of $5,180 million. This was followed by a decline in the subsequent two years to $4,233 million in 2016. A significant surge occurred in 2017, with net income more than doubling to $10,712 million, representing an exceptional increase relative to previous years. After this peak, net income stabilized somewhat but with notable fluctuations, declining to $5,919 million in 2019, then remaining around the $5,000 to $6,500 million range through 2024, ending at $6,747 million.
Operating revenues
Operating revenues experienced a consistent growth trend from 2005 to 2014, rising from $13,578 million to a high of $23,988 million. However, from 2014 onwards, revenues showed increased volatility, with declines evident in 2015 and 2016 down to $19,941 million. Revenues then fluctuated moderately between $21,240 million and $24,875 million in the years following, ending at $24,250 million in 2024. The overall pattern suggests growth interrupted by periods of contraction and some recovery.
Net profit margin
The net profit margin increased steadily from 7.56% in 2005 to reach over 21% by 2014, indicating improved profitability over this period. In 2017, the margin spiked dramatically to 50.43%, corresponding with the extraordinary net income rise that year, suggesting a one-time or exceptional event impacting profitability. Following this outlier, profit margins normalized to levels between approximately 26% and 30% from 2018 onward, indicating sustained high profitability compared to the earlier periods.
Overall Insights
The data reveals a company that grew steadily in both revenue and net income over the first decade, achieving improving profit margins. The exceptional spike in net income and profit margin in 2017 represents a significant anomaly or extraordinary gain, after which the financial metrics reverted to a stable yet improved profitability context relative to the earlier years. Revenues and net income show volatility post-2014, possibly reflective of changing market conditions or operational adjustments. The maintained higher profit margins in recent years despite revenue fluctuations indicate increased efficiency or cost control.

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, 2024
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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), 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, 2024
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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), 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
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Dec 31, 2005

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), 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).