Union Pacific Corporation income statement

In fiscal 2025, Union Pacific Corporation reported revenue of $24.51bn, up 1.1% on the year before, operating income of $9.85bn (a 40.2% margin) and net income of $7.14bn, or $11.98 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Union Pacific Corporation: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Revenue	14.1	17.0	19.6	20.9	22.0	24.0	21.8	19.9	21.2	22.8	21.7	19.5	21.8	24.9	24.1	24.3	24.5	26.4
Operating income	3.4	5.0	5.7	6.7	7.4	8.8	8.1	7.2	8.1	8.5	8.6	7.8	9.3	9.9	9.1	9.7	9.8	10.6
Interest expense	0.6	0.6	0.6	0.5	0.5	0.6	0.6	0.7	0.7	0.9	1.1	1.1	1.2	1.3	1.3	1.3	1.3	1.3
Income before tax	3.0	4.4	5.3	6.3	7.0	8.3	7.7	6.8	7.6	7.7	7.7	7.0	8.5	9.1	8.2	8.8	9.2	9.9
Income tax	1.1	1.7	2.0	2.4	2.7	3.2	2.9	2.5	−3.1	1.8	1.8	1.6	2.0	2.1	1.9	2.0	2.0	2.3
Net income	1.9	2.8	3.3	3.9	4.4	5.2	4.8	4.2	10.7	6.0	5.9	5.3	6.5	7.0	6.4	6.7	7.1	7.6
Diluted EPS	$1.87	$2.77	$3.36	$4.14	$4.71	$5.75	$5.49	$5.07	$13.36	$7.91	$8.38	$7.88	$9.95	$11.21	$10.45	$11.09	$11.98	$12.83
Diluted shares (average)	1,012m	1,006m	980m	953m	932m	901m	869m	835m	802m	754m	706m	679m	655m	624m	610m	609m	596m	594m
EBITDA	4.8	6.5	7.3	8.5	9.2	10.7	10.1	9.3	10.2	10.7	10.8	10.0	11.5	12.2	11.4	12.1	12.3	13.1

US$ millions unless shown otherwise. Fiscal quarters.

Union Pacific Corporation: income statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Revenue	6,121	6,027	6,154	6,244	6,085	6,217	6,864	7,197
Operating income	2,525	2,371	2,525	2,549	2,401	2,458	2,763	2,943
Interest expense	312	322	335	327	325	320	313	312
Income before tax	2,281	2,127	2,313	2,318	2,408	2,229	2,555	2,726
Income tax	519	501	437	530	560	528	562	650
Net income	1,762	1,626	1,876	1,788	1,848	1,701	1,993	2,076
Diluted EPS	$2.91	$2.70	$3.15	$3.01	$3.11	$2.87	$3.36	$3.49
EBITDA	3,131	2,981	3,138	3,167	3,025	3,091	3,401	3,586

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Union Pacific Corporation's SEC filings (10-K and 10-Q), retrieved October 23, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Union Pacific Corporation.