Stock Analysis on Net
Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level


Short-term Activity Ratios (Summary)

Union Pacific Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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
Turnover Ratios
Inventory turnover 6.08 5.81 5.89 6.13 6.27 6.70 6.19 6.03 5.47 5.68 5.53 5.51 5.11 5.23 5.47 5.90 5.75 6.02
Receivables turnover 12.91 13.61 13.49 12.53 13.60 13.01 12.57 13.47 13.74 14.23 14.68 15.27 15.83 15.85 14.79 14.84 15.52 16.09
Working capital turnover 78.48 180.37 317.01 33.91 44.76 14.86 13.85 11.71 23.61
Average No. Days
Average inventory processing period 60 63 62 60 58 54 59 60 67 64 66 66 71 70 67 62 63 61
Add: Average receivable collection period 28 27 27 29 27 28 29 27 27 26 25 24 23 23 25 25 24 23
Operating cycle 88 90 89 89 85 82 88 87 94 90 91 90 94 93 92 87 87 84

Based on: 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Union Pacific Corp.’s inventory turnover ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Union Pacific Corp.’s receivables turnover ratio improved from Q3 2019 to Q4 2019 but then deteriorated significantly from Q4 2019 to Q1 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Union Pacific Corp.’s number of days of inventory outstanding deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Union Pacific Corp.’s operating cycle deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.

Inventory Turnover

Union Pacific Corp., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Cost of operating revenues 955  1,043  1,078  1,133  1,107  1,222  1,291  1,273  1,188  1,132  1,065  1,031  1,026  984  958  916  889  1,013  1,073  1,141  1,207 
Materials and supplies 692  751  771  775  780  742  789  772  808  749  742  726  760  717  690  660  716  736  741  762  744 
Short-term Activity Ratio
Inventory turnover1 6.08 5.81 5.89 6.13 6.27 6.70 6.19 6.03 5.47 5.68 5.53 5.51 5.11 5.23 5.47 5.90 5.75 6.02
Benchmarks
Inventory Turnover, Competitors2
CSX Corp. 10.21 10.31 12.06 13.23 12.39 11.46 10.57 9.11 7.93 8.00 7.43 6.71 6.92 6.84 7.16 7.43 8.37 9.41

Based on: 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 Q1 2020 Calculation
Inventory turnover = (Cost of operating revenuesQ1 2020 + Cost of operating revenuesQ4 2019 + Cost of operating revenuesQ3 2019 + Cost of operating revenuesQ2 2019) ÷ Materials and supplies
= (955 + 1,043 + 1,078 + 1,133) ÷ 692 = 6.08

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Union Pacific Corp.’s inventory turnover ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.

Receivables Turnover

Union Pacific Corp., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Operating revenues 5,229  5,212  5,516  5,596  5,384  5,757  5,928  5,672  5,475  5,450  5,408  5,250  5,132  5,168  5,174  4,770  4,829  5,208  5,562  5,429  5,614 
Accounts receivable, net 1,669  1,595  1,650  1,809  1,672  1,755  1,792  1,634  1,571  1,493  1,428  1,357  1,279  1,258  1,351  1,373  1,355  1,356  1,508  1,513  1,564 
Short-term Activity Ratio
Receivables turnover1 12.91 13.61 13.49 12.53 13.60 13.01 12.57 13.47 13.74 14.23 14.68 15.27 15.83 15.85 14.79 14.84 15.52 16.09
Benchmarks
Receivables Turnover, Competitors2
CSX Corp. 11.69 12.11 11.08 11.11 11.20 12.13 10.98 11.18 10.92 11.76 11.81 11.38 12.00 11.80 11.69 12.11 12.43 12.03
United Parcel Service Inc. 9.23 7.76 9.23 8.98 9.45 8.02 9.45 9.42 8.90 7.51 9.22 9.60 9.54 7.92 9.57 9.71 9.42 8.18

Based on: 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 Q1 2020 Calculation
Receivables turnover = (Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019 + Operating revenuesQ2 2019) ÷ Accounts receivable, net
= (5,229 + 5,212 + 5,516 + 5,596) ÷ 1,669 = 12.91

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Union Pacific Corp.’s receivables turnover ratio improved from Q3 2019 to Q4 2019 but then deteriorated significantly from Q4 2019 to Q1 2020.

Working Capital Turnover

Union Pacific Corp., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Current assets 3,804  3,459  4,073  4,086  3,953  4,163  4,816  4,494  3,897  4,006  4,449  3,869  3,588  3,596  4,602  4,566  5,083  4,130  3,942  4,983  4,479 
Less: Current liabilities 4,641  4,351  4,587  5,665  5,262  4,626  4,529  4,372  4,746  3,939  3,831  3,406  3,848  3,640  3,257  3,095  3,287  3,206  3,508  3,413  3,390 
Working capital (837) (892) (514) (1,579) (1,309) (463) 287  122  (849) 67  618  463  (260) (44) 1,345  1,471  1,796  924  434  1,570  1,089 
 
Operating revenues 5,229  5,212  5,516  5,596  5,384  5,757  5,928  5,672  5,475  5,450  5,408  5,250  5,132  5,168  5,174  4,770  4,829  5,208  5,562  5,429  5,614 
Short-term Activity Ratio
Working capital turnover1 78.48 180.37 317.01 33.91 44.76 14.86 13.85 11.71 23.61
Benchmarks
Working Capital Turnover, Competitors2
CSX Corp. 7.32 10.59 10.56 10.90 7.98 18.85 14.25 10.08 6.91 543.24 119.40 12.06 29.56 24.76 12.45 11.65
United Parcel Service Inc. 21.16 43.84 54.39 59.92 42.42 33.85 40.05 29.08 27.39 23.19 86.10 47.96 702.31 28.74 30.56 18.77 20.90 23.23

Based on: 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 Q1 2020 Calculation
Working capital turnover = (Operating revenuesQ1 2020 + Operating revenuesQ4 2019 + Operating revenuesQ3 2019 + Operating revenuesQ2 2019) ÷ Working capital
= (5,229 + 5,212 + 5,516 + 5,596) ÷ -837 =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Average Inventory Processing Period

Union Pacific Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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
Inventory turnover 6.08 5.81 5.89 6.13 6.27 6.70 6.19 6.03 5.47 5.68 5.53 5.51 5.11 5.23 5.47 5.90 5.75 6.02
Short-term Activity Ratio (no. days)
Average inventory processing period1 60 63 62 60 58 54 59 60 67 64 66 66 71 70 67 62 63 61
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
CSX Corp. 36 35 30 28 29 32 35 40 46 46 49 54 53 53 51 49 44 39

Based on: 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 Q1 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 6.08 = 60

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Union Pacific Corp.’s number of days of inventory outstanding deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.

Average Receivable Collection Period

Union Pacific Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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
Receivables turnover 12.91 13.61 13.49 12.53 13.60 13.01 12.57 13.47 13.74 14.23 14.68 15.27 15.83 15.85 14.79 14.84 15.52 16.09
Short-term Activity Ratio (no. days)
Average receivable collection period1 28 27 27 29 27 28 29 27 27 26 25 24 23 23 25 25 24 23
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
CSX Corp. 31 30 33 33 33 30 33 33 33 31 31 32 30 31 31 30 29 30
United Parcel Service Inc. 40 47 40 41 39 45 39 39 41 49 40 38 38 46 38 38 39 45

Based on: 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 Q1 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.91 = 28

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Union Pacific Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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
Average inventory processing period 60 63 62 60 58 54 59 60 67 64 66 66 71 70 67 62 63 61
Average receivable collection period 28 27 27 29 27 28 29 27 27 26 25 24 23 23 25 25 24 23
Short-term Activity Ratio
Operating cycle1 88 90 89 89 85 82 88 87 94 90 91 90 94 93 92 87 87 84
Benchmarks
Operating Cycle, Competitors2
CSX Corp. 67 65 63 61 62 62 68 73 79 77 80 86 83 84 82 79 73 69

Based on: 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 Q1 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 60 + 28 = 88

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Union Pacific Corp.’s operating cycle deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.