Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Turnover Ratios
Inventory turnover 31.53 32.46 33.57 35.11 30.62
Receivables turnover 12.80 11.63 13.15 12.66 12.98
Payables turnover 28.63 28.18 31.73 28.99 31.92
Working capital turnover 476.41
Average No. Days
Average inventory processing period 12 11 11 10 12
Add: Average receivable collection period 29 31 28 29 28
Operating cycle 41 42 39 39 40
Less: Average payables payment period 13 13 12 13 11
Cash conversion cycle 28 29 27 26 29

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Union Pacific Corp. inventory turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Receivables turnover An activity ratio equal to revenue divided by receivables. Union Pacific Corp. receivables turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Union Pacific Corp. payables turnover ratio decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

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.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Union Pacific Corp. number of days of receivables outstanding deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Union Pacific Corp. operating cycle deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.

Inventory Turnover

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenues 24,250 24,119 24,875 21,804 19,533
Materials and supplies 769 743 741 621 638
Short-term Activity Ratio
Inventory turnover1 31.53 32.46 33.57 35.11 30.62
Benchmarks
Inventory Turnover, Competitors2
FedEx Corp. 142.82 149.26 146.80 143.03 121.01
United Airlines Holdings Inc. 36.30 34.41 40.54 25.06 16.48
United Parcel Service Inc. 110.25 97.28 112.87 135.69 136.50
Inventory Turnover, Sector
Transportation 75.83 73.23 83.93 81.51 70.20
Inventory Turnover, Industry
Industrials 4.06 4.23 4.28 4.03 3.71

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 2024 Calculation
Inventory turnover = Operating revenues ÷ Materials and supplies
= 24,250 ÷ 769 = 31.53

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. inventory turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Receivables Turnover

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenues 24,250 24,119 24,875 21,804 19,533
Accounts receivable, net 1,894 2,073 1,891 1,722 1,505
Short-term Activity Ratio
Receivables turnover1 12.80 11.63 13.15 12.66 12.98
Benchmarks
Receivables Turnover, Competitors2
FedEx Corp. 8.69 8.85 7.88 6.96 6.85
Uber Technologies Inc. 13.19 10.95 11.47 7.16 10.38
United Airlines Holdings Inc. 26.38 28.30 24.96 14.81 11.86
United Parcel Service Inc. 8.38 8.11 7.97 7.76 7.87
Receivables Turnover, Sector
Transportation 10.73 10.29 9.56 8.05 8.08
Receivables Turnover, Industry
Industrials 9.05 8.61 8.17 7.76 7.57

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 2024 Calculation
Receivables turnover = Operating revenues ÷ Accounts receivable, net
= 24,250 ÷ 1,894 = 12.80

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. receivables turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Payables Turnover

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenues 24,250 24,119 24,875 21,804 19,533
Accounts payable 847 856 784 752 612
Short-term Activity Ratio
Payables turnover1 28.63 28.18 31.73 28.99 31.92
Benchmarks
Payables Turnover, Competitors2
FedEx Corp. 27.50 23.43 23.20 21.86 21.17
Uber Technologies Inc. 31.06 28.43 27.00 10.87 21.93
United Airlines Holdings Inc. 13.61 14.01 13.24 9.62 9.63
United Parcel Service Inc. 14.45 14.35 13.36 12.93 13.11
Payables Turnover, Sector
Transportation 18.63 17.96 17.23 15.26 15.94
Payables Turnover, Industry
Industrials 8.65 8.07 7.83 7.81 7.49

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 2024 Calculation
Payables turnover = Operating revenues ÷ Accounts payable
= 24,250 ÷ 847 = 28.63

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Union Pacific Corp. payables turnover ratio decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Working Capital Turnover

Union Pacific Corp., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current assets 4,021 4,148 3,952 3,551 4,214
Less: Current liabilities 5,254 5,106 5,520 5,744 4,173
Working capital (1,233) (958) (1,568) (2,193) 41
 
Operating revenues 24,250 24,119 24,875 21,804 19,533
Short-term Activity Ratio
Working capital turnover1 476.41
Benchmarks
Working Capital Turnover, Competitors2
FedEx Corp. 18.07 17.94 15.35 12.13 11.46
Uber Technologies Inc. 57.19 20.23 80.50 3.69
United Airlines Holdings Inc. 681.14 6.98 7.40
United Parcel Service Inc. 31.74 52.36 24.61 13.21 26.45
Working Capital Turnover, Sector
Transportation 107.59 75.38 32.61 15.90 13.91
Working Capital Turnover, Industry
Industrials 10.82 13.27 10.34 6.90 4.52

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 2024 Calculation
Working capital turnover = Operating revenues ÷ Working capital
= 24,250 ÷ -1,233 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Union Pacific Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Inventory turnover 31.53 32.46 33.57 35.11 30.62
Short-term Activity Ratio (no. days)
Average inventory processing period1 12 11 11 10 12
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
FedEx Corp. 3 2 2 3 3
United Airlines Holdings Inc. 10 11 9 15 22
United Parcel Service Inc. 3 4 3 3 3
Average Inventory Processing Period, Sector
Transportation 5 5 4 4 5
Average Inventory Processing Period, Industry
Industrials 90 86 85 91 99

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 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 31.53 = 12

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.

Average Receivable Collection Period

Union Pacific Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Receivables turnover 12.80 11.63 13.15 12.66 12.98
Short-term Activity Ratio (no. days)
Average receivable collection period1 29 31 28 29 28
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
FedEx Corp. 42 41 46 52 53
Uber Technologies Inc. 28 33 32 51 35
United Airlines Holdings Inc. 14 13 15 25 31
United Parcel Service Inc. 44 45 46 47 46
Average Receivable Collection Period, Sector
Transportation 34 35 38 45 45
Average Receivable Collection Period, Industry
Industrials 40 42 45 47 48

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 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.80 = 29

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. number of days of receivables outstanding deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Operating Cycle

Union Pacific Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Average inventory processing period 12 11 11 10 12
Average receivable collection period 29 31 28 29 28
Short-term Activity Ratio
Operating cycle1 41 42 39 39 40
Benchmarks
Operating Cycle, Competitors2
FedEx Corp. 45 43 48 55 56
United Airlines Holdings Inc. 24 24 24 40 53
United Parcel Service Inc. 47 49 49 50 49
Operating Cycle, Sector
Transportation 39 40 42 49 50
Operating Cycle, Industry
Industrials 130 128 130 138 147

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 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 12 + 29 = 41

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. operating cycle deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Average Payables Payment Period

Union Pacific Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Payables turnover 28.63 28.18 31.73 28.99 31.92
Short-term Activity Ratio (no. days)
Average payables payment period1 13 13 12 13 11
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
FedEx Corp. 13 16 16 17 17
Uber Technologies Inc. 12 13 14 34 17
United Airlines Holdings Inc. 27 26 28 38 38
United Parcel Service Inc. 25 25 27 28 28
Average Payables Payment Period, Sector
Transportation 20 20 21 24 23
Average Payables Payment Period, Industry
Industrials 42 45 47 47 49

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 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 28.63 = 13

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

Union Pacific Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Average inventory processing period 12 11 11 10 12
Average receivable collection period 29 31 28 29 28
Average payables payment period 13 13 12 13 11
Short-term Activity Ratio
Cash conversion cycle1 28 29 27 26 29
Benchmarks
Cash Conversion Cycle, Competitors2
FedEx Corp. 32 27 32 38 39
United Airlines Holdings Inc. -3 -2 -4 2 15
United Parcel Service Inc. 22 24 22 22 21
Cash Conversion Cycle, Sector
Transportation 19 20 21 25 27
Cash Conversion Cycle, Industry
Industrials 88 83 83 91 98

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 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 12 + 2913 = 28

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.