Price to FCFE (P/FCFE)
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Union Pacific Corp. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Free Cash Flow to Equity (FCFE)
Union Pacific Corp., FCFE calculation
US$ in millions
Based on: 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).
- Cash Provided by Operating Activities
- The cash generated from operating activities exhibited a generally positive trend from 2020 to 2024. Starting at 8,540 million US dollars in 2020, it increased to 9,032 million in 2021 and further to 9,362 million in 2022. However, a decline is observed in 2023, with operating cash decreasing to 8,379 million, before rising again to 9,346 million in 2024. The fluctuations in 2023 suggest a temporary reduction in operating cash flow that was subsequently recovered the following year.
- Free Cash Flow to Equity (FCFE)
- The free cash flow to equity demonstrated strong growth from 2020 through 2022, rising from 7,564 million US dollars in 2020 to 8,998 million in 2021, and peaking at 9,531 million in 2022. However, a significant decrease occurred in 2023, where the FCFE nearly halved to 4,182 million. In 2024, there is a slight recovery to 4,468 million, though these values remain well below the peak levels reached in 2022. This pattern indicates a substantial reduction in cash available to equity holders in recent years relative to earlier periods.
Price to FCFE Ratio, Current
Union Pacific Corp., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| FedEx Corp. | |
| Uber Technologies Inc. | |
| United Airlines Holdings Inc. | |
| United Parcel Service Inc. | |
| P/FCFE, Sector | |
| Transportation | |
| P/FCFE, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Union Pacific Corp., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| FedEx Corp. | ||||||
| Uber Technologies Inc. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| P/FCFE, Sector | ||||||
| Transportation | ||||||
| P/FCFE, Industry | ||||||
| Industrials | ||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Union Pacific Corp. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The analysis of the financial data reveals several notable trends over the five-year period.
- Share Price
- The share price exhibited fluctuations, beginning at $204.20 in 2020, increasing to a peak of $249.45 in 2023 before slightly declining to $242.08 in 2024. This indicates an overall positive trajectory with some volatility.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share increased steadily from $11.29 in 2020 to $15.58 in 2022, reflecting a growing ability to generate cash available to equity shareholders. However, a significant drop occurred in 2023 to $6.86, followed by a slight recovery to $7.39 in 2024. This sharp decline suggests potential challenges in cash generation during the latter years.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio declined from 18.08 in 2020 to 13.19 in 2022, indicating that the share price was becoming more attractive relative to cash flow per share, possibly due to the growth in FCFE. Nevertheless, the ratio surged dramatically to 36.37 in 2023 and remained elevated at 32.74 in 2024, signaling a considerable increase in valuation multiple amidst a decline in FCFE per share. This may reflect market optimism or other factors influencing share price despite weakening cash flow metrics.
In summary, the company's share price demonstrated resilience and moderate growth over the period, whereas the FCFE per share experienced volatility, especially with a pronounced decrease after 2022. The P/FCFE ratio trends reveal a shift from a relatively moderate valuation to a high multiple in recent years, implying potential reevaluation by the market or changing investor expectations despite cash flow challenges.