Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Union Pacific Corp., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 0.42 0.44 0.40 0.36 0.40
Net fixed asset turnover (including operating lease, right-of-use asset) 0.41 0.43 0.38 0.35 0.39
Total asset turnover 0.36 0.38 0.34 0.31 0.35
Equity turnover 1.63 2.05 1.54 1.15 1.20

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Union Pacific Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Union Pacific Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Union Pacific Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Union Pacific Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Net Fixed Asset Turnover

Union Pacific Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 24,119 24,875 21,804 19,533 21,708
Properties, net 57,398 56,038 54,871 54,161 53,916
Long-term Activity Ratio
Net fixed asset turnover1 0.42 0.44 0.40 0.36 0.40
Benchmarks
Net Fixed Asset Turnover, Competitors2
FedEx Corp. 2.22 2.45 2.35 2.06 2.29
Uber Technologies Inc. 17.98 15.31 9.42 6.14 8.17
United Parcel Service Inc. 2.46 2.89 2.91 2.62 2.43
Net Fixed Asset Turnover, Sector
Transportation 1.77 1.91 1.75 1.51 1.54
Net Fixed Asset Turnover, Industry
Industrials 3.17 3.22 3.04 2.41 2.76

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Operating revenues ÷ Properties, net
= 24,119 ÷ 57,398 = 0.42

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Union Pacific Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Union Pacific Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 24,119 24,875 21,804 19,533 21,708
 
Properties, net 57,398 56,038 54,871 54,161 53,916
Operating lease assets 1,643 1,672 1,787 1,610 1,812
Properties, net (including operating lease, right-of-use asset) 59,041 57,710 56,658 55,771 55,728
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 0.41 0.43 0.38 0.35 0.39
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
FedEx Corp. 1.55 1.71 1.64 1.46 2.29
Uber Technologies Inc. 11.25 9.03 5.39 3.61 4.25
United Parcel Service Inc. 2.20 2.61 2.63 2.40 2.22
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Transportation 1.50 1.62 1.49 1.30 1.46
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.73 2.78 2.62 2.13 2.57

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Operating revenues ÷ Properties, net (including operating lease, right-of-use asset)
= 24,119 ÷ 59,041 = 0.41

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Union Pacific Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Total Asset Turnover

Union Pacific Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 24,119 24,875 21,804 19,533 21,708
Total assets 67,132 65,449 63,525 62,398 61,673
Long-term Activity Ratio
Total asset turnover1 0.36 0.38 0.34 0.31 0.35
Benchmarks
Total Asset Turnover, Competitors2
FedEx Corp. 1.03 1.09 1.01 0.94 1.28
Uber Technologies Inc. 0.96 0.99 0.45 0.33 0.45
United Parcel Service Inc. 1.28 1.41 1.40 1.36 1.28
Total Asset Turnover, Sector
Transportation 0.92 0.98 0.87 0.80 0.87
Total Asset Turnover, Industry
Industrials 0.68 0.67 0.61 0.52 0.62

Based on: 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).

1 2023 Calculation
Total asset turnover = Operating revenues ÷ Total assets
= 24,119 ÷ 67,132 = 0.36

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Union Pacific Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Equity Turnover

Union Pacific Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 24,119 24,875 21,804 19,533 21,708
Common shareholders’ equity 14,788 12,163 14,161 16,958 18,128
Long-term Activity Ratio
Equity turnover1 1.63 2.05 1.54 1.15 1.20
Benchmarks
Equity Turnover, Competitors2
FedEx Corp. 3.46 3.75 3.47 3.78 3.92
Uber Technologies Inc. 3.31 4.34 1.21 0.91 1.00
United Parcel Service Inc. 5.26 5.07 6.83 128.81 22.68
Equity Turnover, Sector
Transportation 3.49 3.90 3.29 3.83 3.37
Equity Turnover, Industry
Industrials 3.44 3.09 2.69 2.87 3.73

Based on: 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).

1 2023 Calculation
Equity turnover = Operating revenues ÷ Common shareholders’ equity
= 24,119 ÷ 14,788 = 1.63

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Union Pacific Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.