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
Dec 31, 2020 Sep 30, 2020 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
Turnover Ratios
Inventory turnover 5.13 5.39 5.63 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
Receivables turnover 12.98 12.53 14.55 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
Working capital turnover 476.41 67.83 78.48 180.37 317.01 33.91 44.76
Average No. Days
Average inventory processing period 71 68 65 60 63 62 60 58 54 59 60 67 64 66 66 71 70
Add: Average receivable collection period 28 29 25 28 27 27 29 27 28 29 27 27 26 25 24 23 23
Operating cycle 99 97 90 88 90 89 89 85 82 88 87 94 90 91 90 94 93

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Receivables turnover An activity ratio equal to revenue divided by receivables. Union Pacific Corp.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Union Pacific Corp.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Union Pacific Corp.’s operating cycle deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Inventory Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data (US$ in millions)
Cost of operating revenues 824  809  688  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 
Materials and supplies 638  649  668  692  751  771  775  780  742  789  772  808  749  742  726  760  717  690  660  716 
Short-term Activity Ratio
Inventory turnover1 5.13 5.39 5.63 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
Benchmarks
Inventory Turnover, Competitors2
CSX Corp. 7.37 9.02 9.82 10.11 10.17 11.95 13.15 12.37 11.46 10.57 9.11 7.93 8.00 7.43 6.71 6.92 6.84
FedEx Corp. 47.60 47.77 46.43 46.71 48.35 48.53 50.11 48.43 46.59 45.44 43.28 43.37 42.83 39.20 37.55 35.75 34.93 35.83 34.11 34.62
Norfolk Southern Corp. 10.05 9.49 9.26 9.80 10.98 10.22 10.91 12.39 13.61 9.74 9.43 9.51 10.15 9.55 8.07 8.21 8.74

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

1 Q4 2020 Calculation
Inventory turnover = (Cost of operating revenuesQ4 2020 + Cost of operating revenuesQ3 2020 + Cost of operating revenuesQ2 2020 + Cost of operating revenuesQ1 2020) ÷ Materials and supplies
= (824 + 809 + 688 + 955) ÷ 638 = 5.13

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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Receivables Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data (US$ in millions)
Operating revenues 5,141  4,919  4,244  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 
Accounts receivable, net 1,505  1,565  1,388  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 
Short-term Activity Ratio
Receivables turnover1 12.98 12.53 14.55 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
Benchmarks
Receivables Turnover, Competitors2
CSX Corp. 11.60 10.86 12.76 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
FedEx Corp. 6.85 7.47 7.13 7.48 7.65 7.66 7.18 7.71 7.72 7.37 7.20 7.61 7.94 7.76 7.29 7.29 6.94 8.79 8.28 8.55
Norfolk Southern Corp. 11.54 11.22 12.46 12.46 12.28 11.82 11.17 11.05 11.36 10.77 10.58 10.99 11.05 10.66 11.04 10.06 10.46
United Parcel Service Inc. 7.87 8.93 8.38 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

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

1 Q4 2020 Calculation
Receivables turnover = (Operating revenuesQ4 2020 + Operating revenuesQ3 2020 + Operating revenuesQ2 2020 + Operating revenuesQ1 2020) ÷ Accounts receivable, net
= (5,141 + 4,919 + 4,244 + 5,229) ÷ 1,505 = 12.98

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 deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

Working Capital Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data (US$ in millions)
Current assets 4,214  5,130  5,083  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 
Less: Current liabilities 4,173  4,841  5,279  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 
Working capital 41  289  (196) (837) (892) (514) (1,579) (1,309) (463) 287  122  (849) 67  618  463  (260) (44) 1,345  1,471  1,796 
 
Operating revenues 5,141  4,919  4,244  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 
Short-term Activity Ratio
Working capital turnover1 476.41 67.83 78.48 180.37 317.01 33.91 44.76
Benchmarks
Working Capital Turnover, Competitors2
CSX Corp. 4.37 5.50 7.60 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
FedEx Corp. 11.46 31.44 26.10 22.61 17.11 16.31 17.43 22.14 17.62 15.68 13.39 12.36 12.81 12.83 13.01 13.43 12.65 11.52 9.34 9.89
Norfolk Southern Corp. 61.96 17.26 24.68 117.51
United Parcel Service Inc. 26.45 17.95 19.57 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

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

1 Q4 2020 Calculation
Working capital turnover = (Operating revenuesQ4 2020 + Operating revenuesQ3 2020 + Operating revenuesQ2 2020 + Operating revenuesQ1 2020) ÷ Working capital
= (5,141 + 4,919 + 4,244 + 5,229) ÷ 41 = 476.41

2 Click competitor name to see calculations.


Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data
Inventory turnover 5.13 5.39 5.63 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
Short-term Activity Ratio (no. days)
Average inventory processing period1 71 68 65 60 63 62 60 58 54 59 60 67 64 66 66 71 70
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
CSX Corp. 50 40 37 36 36 31 28 30 32 35 40 46 46 49 54 53 53
FedEx Corp. 8 8 8 8 8 8 7 8 8 8 8 8 9 9 10 10 10 10 11 11
Norfolk Southern Corp. 36 38 39 37 33 36 33 29 27 37 39 38 36 38 45 44 42

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

1 Q4 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.13 = 71

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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Average Receivable Collection Period

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data
Receivables turnover 12.98 12.53 14.55 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
Short-term Activity Ratio (no. days)
Average receivable collection period1 28 29 25 28 27 27 29 27 28 29 27 27 26 25 24 23 23
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
CSX Corp. 31 34 29 31 30 33 33 33 30 33 33 33 31 31 32 30 31
FedEx Corp. 53 49 51 49 48 48 51 47 47 50 51 48 46 47 50 50 53 42 44 43
Norfolk Southern Corp. 32 33 29 29 30 31 33 33 32 34 34 33 33 34 33 36 35
United Parcel Service Inc. 46 41 44 40 47 40 41 39 45 39 39 41 49 40 38 38 46

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

1 Q4 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.98 = 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. Union Pacific Corp.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020.

Operating Cycle

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

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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
Selected Financial Data
Average inventory processing period 71 68 65 60 63 62 60 58 54 59 60 67 64 66 66 71 70
Average receivable collection period 28 29 25 28 27 27 29 27 28 29 27 27 26 25 24 23 23
Short-term Activity Ratio
Operating cycle1 99 97 90 88 90 89 89 85 82 88 87 94 90 91 90 94 93
Benchmarks
Operating Cycle, Competitors2
CSX Corp. 81 74 66 67 66 64 61 63 62 68 73 79 77 80 86 83 84
FedEx Corp. 61 57 59 57 56 56 58 55 55 58 59 56 55 56 60 60 63 52 55 54
Norfolk Southern Corp. 68 71 68 66 63 67 66 62 59 71 73 71 69 72 78 80 77

Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 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).

1 Q4 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 71 + 28 = 99

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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.