Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

Union Pacific Corp., P/S, long-term trends, calculation

Microsoft Excel

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$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Union Pacific Corp. Annual Report.


The price-to-sales (P/S) ratio for the observed period exhibits considerable fluctuation, generally trending upwards with notable peaks and valleys. Initial values in the early to mid-2000s were relatively stable, followed by a period of increased volatility and a general upward trajectory. A significant decline occurred during the 2008-2009 timeframe, coinciding with broader economic challenges, before recovering and continuing its upward trend.

Initial Period (2006-2008)
The P/S ratio began at 1.74 and increased to 2.02 over the three-year period. This represents a modest, consistent increase, suggesting a growing investor confidence relative to sales revenue. The share price also demonstrated growth during this period, while sales per share also increased.
Economic Downturn (2008-2009)
A substantial decrease in the P/S ratio is observed, falling from 2.02 to 1.38. This decline correlates with a decrease in share price and an increase in sales per share, potentially indicating market concerns during the financial crisis. Investors were willing to pay less for each dollar of sales.
Recovery and Growth (2010-2019)
Following the downturn, the P/S ratio experienced a recovery, rising from 2.22 to 5.12. This period demonstrates a strong positive correlation between share price and the P/S ratio, with both metrics exhibiting substantial growth. Sales per share also increased consistently, supporting the higher valuation. The ratio experienced year-over-year increases, indicating increasing investor optimism.
Recent Fluctuations (2020-2026)
The P/S ratio reached a peak of 7.08 in 2022, followed by a decrease to 6.12 in 2026. This recent volatility may be attributed to changing market conditions and investor sentiment. While sales per share continued to increase, the share price experienced a decline in 2023 before stabilizing. The ratio remains elevated compared to its historical average, but the recent trend suggests a potential plateau or correction.

Overall, the P/S ratio demonstrates a long-term upward trend, punctuated by periods of significant volatility. The ratio’s movements appear to be influenced by both company-specific factors, such as sales per share, and broader economic conditions. The recent fluctuations warrant continued monitoring to assess the sustainability of the valuation.


Comparison to Competitors

Union Pacific Corp., P/S, long-term trends, comparison to competitors

Microsoft Excel

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)


Comparison to Industry (Industrials)