Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Union Pacific Corp., historical price multiples (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 21.08 22.08 23.25 23.85 20.14 21.55 17.65 17.97 16.21 19.32 22.53 23.67 24.01 24.34 27.76 25.57 23.48 21.35 17.22 21.44
Price to operating profit (P/OP) 14.58 15.32 16.22 16.75 14.11 15.20 12.56 12.68 11.53 13.58 15.79 16.53 16.70 16.84 18.84 17.46 15.91 14.61 11.83 14.83
Price to sales (P/S) 5.76 5.94 6.17 6.31 5.31 5.86 4.93 5.05 4.69 5.65 6.77 7.08 7.01 6.96 7.50 7.00 6.43 5.88 4.79 5.85
Price to book value (P/BV) 8.44 8.70 9.49 10.29 9.16 10.99 9.92 10.34 9.76 10.41 12.90 10.90 10.68 10.01 8.91 8.07 7.33 7.22 6.46 7.00 6.31 6.76 7.05

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Union Pacific Corp. P/E ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Union Pacific Corp. P/OP ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Union Pacific Corp. P/S ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Union Pacific Corp. P/BV ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Price to Earnings (P/E)

Union Pacific Corp., historical P/E calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 606,256,627 609,197,628 610,122,122 609,777,914 609,597,495 609,456,215 609,695,454 611,872,981 614,800,800 624,478,594 628,025,156 636,898,957 642,875,700 652,122,933 664,302,521 669,829,363 673,868,865 678,838,800 678,568,053 690,261,490 694,199,885 704,529,750 707,838,173
Selected Financial Data (US$)
Net income (in millions) 1,671 1,673 1,641 1,652 1,528 1,569 1,630 1,638 1,895 1,835 1,630 1,711 1,673 1,798 1,341 1,380 1,363 1,132 1,474 1,403 1,555 1,570 1,391
Earnings per share (EPS)2 10.95 10.66 10.47 10.46 10.44 11.05 11.48 11.44 11.50 10.97 10.85 10.24 9.63 9.02 7.85 7.99 7.97 8.20 8.85 8.58 0.00 0.00 0.00
Share price1, 3 230.75 235.35 243.55 249.45 210.33 238.00 202.60 205.50 186.45 211.90 244.40 242.39 231.28 219.54 217.98 204.20 187.14 175.00 152.29 183.83 163.68 174.25 176.66
Valuation Ratio
P/E ratio4 21.08 22.08 23.25 23.85 20.14 21.55 17.65 17.97 16.21 19.32 22.53 23.67 24.01 24.34 27.76 25.57 23.48 21.35 17.22 21.44
Benchmarks
P/E Ratio, Competitors5
FedEx Corp. 14.83 16.32 15.09 16.11 17.14 12.45 11.20 14.80 11.50 12.86 13.14 15.07 23.08 31.59 34.80 33.43 568.30 100.48 82.00
Uber Technologies Inc. 34.47 67.77 99.82 89.56 97.47
United Parcel Service Inc. 20.17 20.11 21.14 18.89 13.92 15.41 14.01 13.27 12.72 15.37 14.93 14.11 28.39 27.60 36.12 104.33 30.09 28.55 19.04 20.59

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
EPS = (Net incomeQ3 2024 + Net incomeQ2 2024 + Net incomeQ1 2024 + Net incomeQ4 2023) ÷ No. shares of common stock outstanding
= (1,671,000,000 + 1,673,000,000 + 1,641,000,000 + 1,652,000,000) ÷ 606,256,627 = 10.95

3 Closing price as at the filing date of Union Pacific Corp. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/E ratio = Share price ÷ EPS
= 230.75 ÷ 10.95 = 21.08

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Union Pacific Corp. P/E ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Price to Operating Profit (P/OP)

Union Pacific Corp., historical P/OP calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 606,256,627 609,197,628 610,122,122 609,777,914 609,597,495 609,456,215 609,695,454 611,872,981 614,800,800 624,478,594 628,025,156 636,898,957 642,875,700 652,122,933 664,302,521 669,829,363 673,868,865 678,838,800 678,568,053 690,261,490 694,199,885 704,529,750 707,838,173
Selected Financial Data (US$)
Operating income (in millions) 2,416 2,400 2,372 2,407 2,177 2,204 2,294 2,412 2,633 2,495 2,377 2,440 2,432 2,473 1,993 2,006 2,031 1,654 2,143 2,100 2,234 2,260 1,960
Operating profit per share2 15.83 15.36 15.01 14.89 14.91 15.66 16.13 16.21 16.18 15.60 15.48 14.66 13.85 13.04 11.57 11.70 11.76 11.98 12.88 12.39 0.00 0.00 0.00
Share price1, 3 230.75 235.35 243.55 249.45 210.33 238.00 202.60 205.50 186.45 211.90 244.40 242.39 231.28 219.54 217.98 204.20 187.14 175.00 152.29 183.83 163.68 174.25 176.66
Valuation Ratio
P/OP ratio4 14.58 15.32 16.22 16.75 14.11 15.20 12.56 12.68 11.53 13.58 15.79 16.53 16.70 16.84 18.84 17.46 15.91 14.61 11.83 14.83
Benchmarks
P/OP Ratio, Competitors5
FedEx Corp. 11.83 13.19 12.10 13.03 9.62 7.38 6.66 9.07 9.66 10.90 11.82 13.46 15.42 19.66 20.51 17.79 7.61 11.34 10.34 9.92
Uber Technologies Inc. 56.59 67.67 89.86 152.26 325.09
United Parcel Service Inc. 14.25 14.32 15.25 13.86 12.08 13.27 12.19 11.70 10.32 12.38 12.08 14.20 16.72 16.10 19.92 18.23 17.73 16.56 10.94 11.72

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
Operating profit per share = (Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024 + Operating incomeQ4 2023) ÷ No. shares of common stock outstanding
= (2,416,000,000 + 2,400,000,000 + 2,372,000,000 + 2,407,000,000) ÷ 606,256,627 = 15.83

3 Closing price as at the filing date of Union Pacific Corp. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 230.75 ÷ 15.83 = 14.58

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Union Pacific Corp. P/OP ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Price to Sales (P/S)

Union Pacific Corp., historical P/S calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 606,256,627 609,197,628 610,122,122 609,777,914 609,597,495 609,456,215 609,695,454 611,872,981 614,800,800 624,478,594 628,025,156 636,898,957 642,875,700 652,122,933 664,302,521 669,829,363 673,868,865 678,838,800 678,568,053 690,261,490 694,199,885 704,529,750 707,838,173
Selected Financial Data (US$)
Operating revenues (in millions) 6,091 6,007 6,031 6,159 5,941 5,963 6,056 6,180 6,566 6,269 5,860 5,733 5,566 5,504 5,001 5,141 4,919 4,244 5,229 5,212 5,516 5,596 5,384
Sales per share2 40.06 39.62 39.49 39.55 39.60 40.63 41.12 40.65 39.73 37.52 36.09 34.23 33.00 31.54 29.06 29.16 29.09 29.76 31.76 31.45 0.00 0.00 0.00
Share price1, 3 230.75 235.35 243.55 249.45 210.33 238.00 202.60 205.50 186.45 211.90 244.40 242.39 231.28 219.54 217.98 204.20 187.14 175.00 152.29 183.83 163.68 174.25 176.66
Valuation Ratio
P/S ratio4 5.76 5.94 6.17 6.31 5.31 5.86 4.93 5.05 4.69 5.65 6.77 7.08 7.01 6.96 7.50 7.00 6.43 5.88 4.79 5.85
Benchmarks
P/S Ratio, Competitors5
FedEx Corp. 0.74 0.80 0.71 0.71 0.55 0.44 0.42 0.61 0.64 0.71 0.77 0.94 0.89 1.04 0.87 0.62 0.36 0.62 0.65 0.64
Uber Technologies Inc. 3.62 3.40 3.60 4.53 2.86 2.74 2.26 2.16 1.98 2.47 2.46 3.90 5.95 6.34 8.09 9.07 6.57 4.42 3.98 4.00
United Parcel Service Inc. 1.26 1.18 1.40 1.39 1.28 1.60 1.53 1.53 1.41 1.68 1.63 1.87 1.94 1.81 2.09 1.66 1.72 1.61 1.09 1.23

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
Sales per share = (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023) ÷ No. shares of common stock outstanding
= (6,091,000,000 + 6,007,000,000 + 6,031,000,000 + 6,159,000,000) ÷ 606,256,627 = 40.06

3 Closing price as at the filing date of Union Pacific Corp. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 230.75 ÷ 40.06 = 5.76

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Union Pacific Corp. P/S ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Price to Book Value (P/BV)

Union Pacific Corp., historical P/BV calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 606,256,627 609,197,628 610,122,122 609,777,914 609,597,495 609,456,215 609,695,454 611,872,981 614,800,800 624,478,594 628,025,156 636,898,957 642,875,700 652,122,933 664,302,521 669,829,363 673,868,865 678,838,800 678,568,053 690,261,490 694,199,885 704,529,750 707,838,173
Selected Financial Data (US$)
Common shareholders’ equity (in millions) 16,584 16,489 15,665 14,788 14,004 13,194 12,454 12,163 11,743 12,710 11,897 14,161 13,917 14,303 16,254 16,958 17,199 16,452 15,991 18,128 18,016 18,171 17,742
Book value per share (BVPS)2 27.35 27.07 25.68 24.25 22.97 21.65 20.43 19.88 19.10 20.35 18.94 22.23 21.65 21.93 24.47 25.32 25.52 24.24 23.57 26.26 25.95 25.79 25.07
Share price1, 3 230.75 235.35 243.55 249.45 210.33 238.00 202.60 205.50 186.45 211.90 244.40 242.39 231.28 219.54 217.98 204.20 187.14 175.00 152.29 183.83 163.68 174.25 176.66
Valuation Ratio
P/BV ratio4 8.44 8.70 9.49 10.29 9.16 10.99 9.92 10.34 9.76 10.41 12.90 10.90 10.68 10.01 8.91 8.07 7.33 7.22 6.46 7.00 6.31 6.76 7.05
Benchmarks
P/BV Ratio, Competitors5
FedEx Corp. 2.47 2.61 2.37 2.45 2.07 1.72 1.60 2.27 2.41 2.53 2.75 3.26 3.18 3.68 3.19 2.35 1.32 2.28 2.49 2.49 2.38 2.50 3.51
Uber Technologies Inc. 10.26 11.04 12.55 15.02 10.98 11.08 10.20 9.36 9.20 9.47 5.91 4.71 6.34 5.73 6.42 8.24 8.85 6.04 5.01 3.99 3.17 4.28
United Parcel Service Inc. 6.78 6.20 7.41 7.32 6.21 7.71 7.54 7.75 8.39 10.31 10.42 12.76 15.21 15.53 26.13 213.26 24.66 28.64 24.78 27.98 18.04 23.36 26.37

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
BVPS = Common shareholders’ equity ÷ No. shares of common stock outstanding
= 16,584,000,000 ÷ 606,256,627 = 27.35

3 Closing price as at the filing date of Union Pacific Corp. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 230.75 ÷ 27.35 = 8.44

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Union Pacific Corp. P/BV ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.