Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Union Pacific Corp., long-term (investment) activity ratios
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
| 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 | 3.16 | 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
| 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 | 2.72 | 2.77 | 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
| 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 | 0.67 | 0.66 | 0.60 | 0.51 | 0.61 | |
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
| 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 | 3.22 | 2.94 | 2.58 | 2.75 | 3.53 | |
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. |