Stock Analysis on Net
Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Analysis of Solvency Ratios
Quarterly Data

Beginner level


Solvency Ratios (Summary)

Union Pacific Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Debt Ratios
Debt to equity 1.73 1.74 1.39 1.43 1.39 1.42 1.10 1.09 1.15 0.72 0.68 0.88 0.80 0.76 0.75 0.77 0.74 0.74 0.69 0.65 0.64 0.58
Debt to equity (including operating lease liability) 1.81 1.83 1.47 1.51 1.48 1.51 1.10 1.09 1.15 0.72 0.68 0.88 0.80 0.76 0.75 0.77 0.74 0.74 0.69 0.65 0.64 0.58
Debt to capital 0.63 0.64 0.58 0.59 0.58 0.59 0.52 0.52 0.53 0.42 0.41 0.47 0.45 0.43 0.43 0.43 0.43 0.43 0.41 0.39 0.39 0.37
Debt to capital (including operating lease liability) 0.64 0.65 0.60 0.60 0.60 0.60 0.52 0.52 0.53 0.42 0.41 0.47 0.45 0.43 0.43 0.43 0.43 0.43 0.41 0.39 0.39 0.37
Debt to assets 0.45 0.45 0.41 0.42 0.41 0.41 0.38 0.38 0.39 0.30 0.29 0.29 0.28 0.27 0.27 0.28 0.27 0.27 0.26 0.25 0.25 0.23
Debt to assets (including operating lease liability) 0.47 0.47 0.43 0.44 0.44 0.44 0.38 0.38 0.39 0.30 0.29 0.29 0.28 0.27 0.27 0.28 0.27 0.27 0.26 0.25 0.25 0.23
Financial leverage 3.86 3.89 3.40 3.44 3.40 3.46 2.90 2.87 2.95 2.37 2.33 3.00 2.88 2.83 2.80 2.78 2.73 2.72 2.64 2.61 2.58 2.52
Coverage Ratios
Interest coverage 7.58 8.28 8.38 8.79 9.04 9.40 9.90 10.56 11.20 11.44 11.61 11.46 11.15 10.80 10.69 10.76 11.58 12.49 13.31

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Union Pacific Corp.’s debt to equity ratio deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Union Pacific Corp.’s debt to equity ratio (including operating lease liability) deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Union Pacific Corp.’s debt to capital ratio deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Union Pacific Corp.’s debt to capital ratio (including operating lease liability) deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Union Pacific Corp.’s debt to assets ratio deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Union Pacific Corp.’s debt to assets ratio (including operating lease liability) deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Union Pacific Corp.’s financial leverage ratio increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Union Pacific Corp.’s interest coverage ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Debt to Equity

Union Pacific Corp., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt due within one year 1,990  1,511  1,257  1,421  2,297  1,703  1,466  1,468  1,456  1,891  800  903  531  723  758  407  409  402  594  521  431  416 
Debt due after one year 26,439  26,365  23,943  24,314  22,955  23,409  20,925  20,943  21,357  15,697  16,144  15,930  15,229  14,310  14,249  15,205  14,777  14,791  13,607  12,798  12,908  11,884 
Total debt 28,429  27,876  25,200  25,735  25,252  25,112  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
 
Common shareholders’ equity 16,452  15,991  18,128  18,016  18,171  17,742  20,423  20,645  19,909  24,389  24,856  19,151  19,615  19,723  19,932  20,284  20,422  20,475  20,702  20,599  20,990  21,057 
Solvency Ratio
Debt to equity1 1.73 1.74 1.39 1.43 1.39 1.42 1.10 1.09 1.15 0.72 0.68 0.88 0.80 0.76 0.75 0.77 0.74 0.74 0.69 0.65 0.64 0.58
Benchmarks
Debt to Equity, Competitors2
CSX Corp. 1.36 1.41 1.37 1.41 1.28 1.27 1.17 1.00 0.98 0.96 0.80 1.08 1.02 0.97 0.97 0.90 0.91 0.91 0.92 0.87 0.88 0.86
FedEx Corp. 1.01 1.03 0.99 0.93 0.90 0.88 0.85 0.93 0.91 0.91 0.93 0.97 0.94 0.97 1.01 0.59 0.57 0.47 0.48 0.45 0.30 0.31
Norfolk Southern Corp. 0.85 0.82 0.80 0.78 0.75 0.74 0.73 0.72 0.58 0.63 0.60 0.78 0.78 0.81 0.82 0.82 0.82 0.78 0.83 0.78 0.78 0.73
United Parcel Service Inc. 6.18 8.67 7.73 4.30 5.31 6.68 7.53 7.52 9.76 17.18 24.29 12.53 14.53 32.22 39.69 5.59 5.47 6.28 5.80 7.57 6.74 7.16

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Debt to equity = Total debt ÷ Common shareholders’ equity
= 28,429 ÷ 16,452 = 1.73

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Union Pacific Corp.’s debt to equity ratio deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.

Debt to Equity (including Operating Lease Liability)

Union Pacific Corp., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt due within one year 1,990  1,511  1,257  1,421  2,297  1,703  1,466  1,468  1,456  1,891  800  903  531  723  758  407  409  402  594  521  431  416 
Debt due after one year 26,439  26,365  23,943  24,314  22,955  23,409  20,925  20,943  21,357  15,697  16,144  15,930  15,229  14,310  14,249  15,205  14,777  14,791  13,607  12,798  12,908  11,884 
Total debt 28,429  27,876  25,200  25,735  25,252  25,112  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
Noncurrent operating lease liabilities 1,320  1,339  1,471  1,542  1,612  1,663  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 29,749  29,215  26,671  27,277  26,864  26,775  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
 
Common shareholders’ equity 16,452  15,991  18,128  18,016  18,171  17,742  20,423  20,645  19,909  24,389  24,856  19,151  19,615  19,723  19,932  20,284  20,422  20,475  20,702  20,599  20,990  21,057 
Solvency Ratio
Debt to equity (including operating lease liability)1 1.81 1.83 1.47 1.51 1.48 1.51 1.10 1.09 1.15 0.72 0.68 0.88 0.80 0.76 0.75 0.77 0.74 0.74 0.69 0.65 0.64 0.58
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
CSX Corp. 1.40 1.45 1.41 1.45 1.33 1.31 1.17 1.00 0.98 0.96 0.80 1.08 1.02 0.97 0.97 0.90 0.91 0.91 0.92 0.87 0.88 0.86
FedEx Corp. 1.78 1.81 0.99 0.93 0.90 0.88 0.85 0.93 0.91 0.91 0.93 0.97 0.94 0.97 1.01 0.59 0.57 0.47 0.48 0.45 0.30 0.31
United Parcel Service Inc. 6.86 9.58 8.62 4.76 5.88 7.43 7.53 7.52 9.76 17.18 24.29 12.53 14.53 32.22 39.69 5.59 5.47 6.28 5.80 7.57 6.74 7.16

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Common shareholders’ equity
= 29,749 ÷ 16,452 = 1.81

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Union Pacific Corp.’s debt to equity ratio (including operating lease liability) deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.

Debt to Capital

Union Pacific Corp., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt due within one year 1,990  1,511  1,257  1,421  2,297  1,703  1,466  1,468  1,456  1,891  800  903  531  723  758  407  409  402  594  521  431  416 
Debt due after one year 26,439  26,365  23,943  24,314  22,955  23,409  20,925  20,943  21,357  15,697  16,144  15,930  15,229  14,310  14,249  15,205  14,777  14,791  13,607  12,798  12,908  11,884 
Total debt 28,429  27,876  25,200  25,735  25,252  25,112  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
Common shareholders’ equity 16,452  15,991  18,128  18,016  18,171  17,742  20,423  20,645  19,909  24,389  24,856  19,151  19,615  19,723  19,932  20,284  20,422  20,475  20,702  20,599  20,990  21,057 
Total capital 44,881  43,867  43,328  43,751  43,423  42,854  42,814  43,056  42,722  41,977  41,800  35,984  35,375  34,756  34,939  35,896  35,608  35,668  34,903  33,918  34,329  33,357 
Solvency Ratio
Debt to capital1 0.63 0.64 0.58 0.59 0.58 0.59 0.52 0.52 0.53 0.42 0.41 0.47 0.45 0.43 0.43 0.43 0.43 0.43 0.41 0.39 0.39 0.37
Benchmarks
Debt to Capital, Competitors2
CSX Corp. 0.58 0.58 0.58 0.59 0.56 0.56 0.54 0.50 0.50 0.49 0.45 0.52 0.51 0.49 0.49 0.47 0.48 0.48 0.48 0.46 0.47 0.46
FedEx Corp. 0.50 0.51 0.50 0.48 0.47 0.47 0.46 0.48 0.48 0.48 0.48 0.49 0.48 0.49 0.50 0.37 0.36 0.32 0.33 0.31 0.23 0.24
Norfolk Southern Corp. 0.46 0.45 0.45 0.44 0.43 0.43 0.42 0.42 0.37 0.39 0.38 0.44 0.44 0.45 0.45 0.45 0.45 0.44 0.45 0.44 0.44 0.42
United Parcel Service Inc. 0.86 0.90 0.89 0.81 0.84 0.87 0.88 0.88 0.91 0.94 0.96 0.93 0.94 0.97 0.98 0.85 0.85 0.86 0.85 0.88 0.87 0.88

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 28,429 ÷ 44,881 = 0.63

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Union Pacific Corp.’s debt to capital ratio deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.

Debt to Capital (including Operating Lease Liability)

Union Pacific Corp., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt due within one year 1,990  1,511  1,257  1,421  2,297  1,703  1,466  1,468  1,456  1,891  800  903  531  723  758  407  409  402  594  521  431  416 
Debt due after one year 26,439  26,365  23,943  24,314  22,955  23,409  20,925  20,943  21,357  15,697  16,144  15,930  15,229  14,310  14,249  15,205  14,777  14,791  13,607  12,798  12,908  11,884 
Total debt 28,429  27,876  25,200  25,735  25,252  25,112  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
Noncurrent operating lease liabilities 1,320  1,339  1,471  1,542  1,612  1,663  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 29,749  29,215  26,671  27,277  26,864  26,775  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
Common shareholders’ equity 16,452  15,991  18,128  18,016  18,171  17,742  20,423  20,645  19,909  24,389  24,856  19,151  19,615  19,723  19,932  20,284  20,422  20,475  20,702  20,599  20,990  21,057 
Total capital (including operating lease liability) 46,201  45,206  44,799  45,293  45,035  44,517  42,814  43,056  42,722  41,977  41,800  35,984  35,375  34,756  34,939  35,896  35,608  35,668  34,903  33,918  34,329  33,357 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.64 0.65 0.60 0.60 0.60 0.60 0.52 0.52 0.53 0.42 0.41 0.47 0.45 0.43 0.43 0.43 0.43 0.43 0.41 0.39 0.39 0.37
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
CSX Corp. 0.58 0.59 0.59 0.59 0.57 0.57 0.54 0.50 0.50 0.49 0.45 0.52 0.51 0.49 0.49 0.47 0.48 0.48 0.48 0.46 0.47 0.46
FedEx Corp. 0.64 0.64 0.50 0.48 0.47 0.47 0.46 0.48 0.48 0.48 0.48 0.49 0.48 0.49 0.50 0.37 0.36 0.32 0.33 0.31 0.23 0.24
United Parcel Service Inc. 0.87 0.91 0.90 0.83 0.85 0.88 0.88 0.88 0.91 0.94 0.96 0.93 0.94 0.97 0.98 0.85 0.85 0.86 0.85 0.88 0.87 0.88

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 29,749 ÷ 46,201 = 0.64

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Union Pacific Corp.’s debt to capital ratio (including operating lease liability) deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.

Debt to Assets

Union Pacific Corp., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt due within one year 1,990  1,511  1,257  1,421  2,297  1,703  1,466  1,468  1,456  1,891  800  903  531  723  758  407  409  402  594  521  431  416 
Debt due after one year 26,439  26,365  23,943  24,314  22,955  23,409  20,925  20,943  21,357  15,697  16,144  15,930  15,229  14,310  14,249  15,205  14,777  14,791  13,607  12,798  12,908  11,884 
Total debt 28,429  27,876  25,200  25,735  25,252  25,112  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
 
Total assets 63,555  62,216  61,673  61,978  61,708  61,319  59,147  59,312  58,689  57,789  57,806  57,397  56,478  55,900  55,718  56,305  55,690  55,772  54,600  53,763  54,177  53,145 
Solvency Ratio
Debt to assets1 0.45 0.45 0.41 0.42 0.41 0.41 0.38 0.38 0.39 0.30 0.29 0.29 0.28 0.27 0.27 0.28 0.27 0.27 0.26 0.25 0.25 0.23
Benchmarks
Debt to Assets, Competitors2
CSX Corp. 0.42 0.43 0.42 0.43 0.42 0.41 0.40 0.37 0.37 0.37 0.33 0.33 0.33 0.32 0.32 0.30 0.30 0.30 0.31 0.30 0.30 0.29
FedEx Corp. 0.27 0.27 0.32 0.34 0.32 0.33 0.32 0.34 0.31 0.31 0.31 0.32 0.29 0.30 0.30 0.22 0.22 0.19 0.20 0.20 0.14 0.15
Norfolk Southern Corp. 0.33 0.33 0.32 0.32 0.31 0.31 0.31 0.31 0.27 0.28 0.28 0.28 0.28 0.29 0.29 0.29 0.29 0.28 0.29 0.28 0.28 0.27
United Parcel Service Inc. 0.43 0.47 0.44 0.45 0.44 0.44 0.45 0.50 0.50 0.52 0.53 0.46 0.45 0.45 0.40 0.40 0.37 0.39 0.37 0.37 0.35 0.35

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 28,429 ÷ 63,555 = 0.45

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Union Pacific Corp.’s debt to assets ratio deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.

Debt to Assets (including Operating Lease Liability)

Union Pacific Corp., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Debt due within one year 1,990  1,511  1,257  1,421  2,297  1,703  1,466  1,468  1,456  1,891  800  903  531  723  758  407  409  402  594  521  431  416 
Debt due after one year 26,439  26,365  23,943  24,314  22,955  23,409  20,925  20,943  21,357  15,697  16,144  15,930  15,229  14,310  14,249  15,205  14,777  14,791  13,607  12,798  12,908  11,884 
Total debt 28,429  27,876  25,200  25,735  25,252  25,112  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
Noncurrent operating lease liabilities 1,320  1,339  1,471  1,542  1,612  1,663  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 29,749  29,215  26,671  27,277  26,864  26,775  22,391  22,411  22,813  17,588  16,944  16,833  15,760  15,033  15,007  15,612  15,186  15,193  14,201  13,319  13,339  12,300 
 
Total assets 63,555  62,216  61,673  61,978  61,708  61,319  59,147  59,312  58,689  57,789  57,806  57,397  56,478  55,900  55,718  56,305  55,690  55,772  54,600  53,763  54,177  53,145 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.47 0.47 0.43 0.44 0.44 0.44 0.38 0.38 0.39 0.30 0.29 0.29 0.28 0.27 0.27 0.28 0.27 0.27 0.26 0.25 0.25 0.23
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
CSX Corp. 0.44 0.44 0.44 0.44 0.43 0.43 0.40 0.37 0.37 0.37 0.33 0.33 0.33 0.32 0.32 0.30 0.30 0.30 0.31 0.30 0.30 0.29
FedEx Corp. 0.47 0.48 0.32 0.34 0.32 0.33 0.32 0.34 0.31 0.31 0.31 0.32 0.29 0.30 0.30 0.22 0.22 0.19 0.20 0.20 0.14 0.15
United Parcel Service Inc. 0.48 0.52 0.49 0.50 0.49 0.49 0.45 0.50 0.50 0.52 0.53 0.46 0.45 0.45 0.40 0.40 0.37 0.39 0.37 0.37 0.35 0.35

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 29,749 ÷ 63,555 = 0.47

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Union Pacific Corp.’s debt to assets ratio (including operating lease liability) deteriorated from Q4 2019 to Q1 2020 but then slightly improved from Q1 2020 to Q2 2020.

Financial Leverage

Union Pacific Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Total assets 63,555  62,216  61,673  61,978  61,708  61,319  59,147  59,312  58,689  57,789  57,806  57,397  56,478  55,900  55,718  56,305  55,690  55,772  54,600  53,763  54,177  53,145 
Common shareholders’ equity 16,452  15,991  18,128  18,016  18,171  17,742  20,423  20,645  19,909  24,389  24,856  19,151  19,615  19,723  19,932  20,284  20,422  20,475  20,702  20,599  20,990  21,057 
Solvency Ratio
Financial leverage1 3.86 3.89 3.40 3.44 3.40 3.46 2.90 2.87 2.95 2.37 2.33 3.00 2.88 2.83 2.80 2.78 2.73 2.72 2.64 2.61 2.58 2.52
Benchmarks
Financial Leverage, Competitors2
CSX Corp. 3.20 3.27 3.23 3.27 3.09 3.07 2.92 2.69 2.64 2.60 2.43 3.27 3.09 3.06 3.03 2.98 2.98 2.99 3.01 2.92 2.92 2.93
FedEx Corp. 3.75 3.77 3.06 2.74 2.76 2.71 2.70 2.74 2.95 2.97 3.02 3.08 3.19 3.22 3.34 2.64 2.56 2.44 2.47 2.26 2.12 2.16
Norfolk Southern Corp. 2.55 2.52 2.50 2.46 2.43 2.42 2.36 2.35 2.16 2.20 2.18 2.76 2.76 2.81 2.81 2.79 2.80 2.76 2.81 2.76 2.76 2.70
United Parcel Service Inc. 14.22 18.46 17.71 9.59 11.98 15.02 16.56 15.07 19.43 33.08 45.40 27.41 31.93 71.74 99.70 13.98 14.60 15.94 15.51 20.22 19.10 20.41

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Financial leverage = Total assets ÷ Common shareholders’ equity
= 63,555 ÷ 16,452 = 3.86

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Union Pacific Corp.’s financial leverage ratio increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020.

Interest Coverage

Union Pacific Corp., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net income 1,132  1,474  1,403  1,555  1,570  1,391  1,554  1,593  1,509  1,310  7,278  1,194  1,168  1,072  1,144  1,131  979  979  1,117  1,300  1,204  1,151 
Add: Income tax expense 364  444  475  466  488  399  462  483  429  401  (5,186) 789  701  616  687  674  585  587  665  781  734  704 
Add: Interest expense 289  278  278  266  259  247  240  241  203  186  188  180  179  172  174  184  173  167  164  157  153  148 
Earnings before interest and tax (EBIT) 1,785  2,196  2,156  2,287  2,317  2,037  2,256  2,317  2,141  1,897  2,280  2,163  2,048  1,860  2,005  1,989  1,737  1,733  1,946  2,238  2,091  2,003 
Solvency Ratio
Interest coverage1 7.58 8.28 8.38 8.79 9.04 9.40 9.90 10.56 11.20 11.44 11.61 11.46 11.15 10.80 10.69 10.76 11.58 12.49 13.31
Benchmarks
Interest Coverage, Competitors2
CSX Corp. 6.01 6.72 6.86 7.17 7.41 7.67 7.74 7.89 7.56 7.22 6.75 6.18 6.05 5.81 5.73 5.85 6.03 6.42 6.77
Norfolk Southern Corp. 5.31 6.03 6.78 6.99 7.14 7.36 7.23 7.32 7.21 6.85 6.69 6.15 5.90 5.66 5.59 5.38 5.47 5.61 5.48
United Parcel Service Inc. 9.32 9.39 9.66 11.07 10.63 10.34 10.95 12.71 13.77 15.11 16.78 13.37 13.91 14.04 14.48 21.82 22.33 22.61 22.53

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21), 10-K (filing date: 2016-02-05), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Interest coverage = (EBITQ2 2020 + EBITQ1 2020 + EBITQ4 2019 + EBITQ3 2019) ÷ (Interest expenseQ2 2020 + Interest expenseQ1 2020 + Interest expenseQ4 2019 + Interest expenseQ3 2019)
= (1,785 + 2,196 + 2,156 + 2,287) ÷ (289 + 278 + 278 + 266) = 7.58

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Union Pacific Corp.’s interest coverage ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.