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Union Pacific Corp UNP

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Stock XNYS Rating as of
$240.36 +5.01 (2.13%)
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Company Report

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Union Pacific Earnings: Coal Is Derailing Volumes, but Network Productivity Gains Still Impressive

Matthew Young

Wide moat Class-I railroad Union Pacific's second-quarter top line increased 1% year over year on slightly higher volumes and positive core pricing, partly offset by mix headwinds (outsize international intermodal growth). Revenue came in modestly below our anticipated run rate as coal fell more than we expected and heavy competition from the full-truckload sector isn't easing as much as we thought for domestic intermodal business.

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Price vs Fair Value

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UNP is trading within a range we consider fairly valued.
Price
$240.36
Fair Value
$969.00
Uncertainty
Medium
1-Star Price
$836.60
5-Star Price
$984.80
Economic Moat
Chz
Capital Allocation
Qbddqvsp

Bulls Say, Bears Say

Bulls

International intermodal volumes flipped positive this year on a solid US West Coast import recovery, including an uptick in retailer inventory restocking.

Bears

Domestic-intermodal pricing headwinds from depressed rates in the competing truckload sector will linger into first half 2024.

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Trading Information

Previous Close Price
$235.35
Day Range
$235.89–243.15
52-Week Range
$199.33–258.66
Bid/Ask
$224.56 / $240.36
Market Cap
$146.65 Bil
Volume/Avg
2.8 Mil / 2.3 Mil

Key Statistics

Price/Earnings (Normalized)
22.57
Price/Sales
6.08
Dividend Yield (Trailing)
2.16%
Dividend Yield (Forward)
2.23%
Total Yield
2.23%

Company Profile

Omaha, Nebraska-based Union Pacific is the largest public railroad in North America. Operating on more than 30,000 miles of track in the western two thirds of the US, Union Pacific generated $24 billion of revenue in 2023 by hauling coal, industrial products, intermodal containers, agriculture goods, chemicals, fertilizers, and automotive goods. Union Pacific owns about one fourth of Mexican railroad Ferromex and historically derives roughly 10% of its revenue hauling freight to and from Mexico.
Sector
Industrials
Industry
Railroads
Stock Style Box
Large Core
Total Number of Employees
30,556
Website
https://www.up.com

Competitors

Valuation

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Metric
UNP
NSC
CNI
Price/Earnings (Normalized)
 22.5722.7721.52
Price/Book Value
 8.894.315.14
Price/Sales
 6.084.635.93
Price/Cash Flow
 16.4719.9414.55
Price/Earnings
UNP
NSC
CNI

Financial Strength

Metric
UNP
NSC
CNI
Quick Ratio
 0.760.500.32
Current Ratio
 1.050.630.63
Interest Coverage
 7.413.868.69
Quick Ratio
UNP
NSC
CNI

Profitability

Metric
UNP
NSC
CNI
Return on Assets (Normalized)
 9.70%6.28%9.80%
Return on Equity (Normalized)
 43.80%20.40%25.86%
Return on Invested Capital (Normalized)
 15.24%10.88%15.02%
Return on Assets
UNP
NSC
CNI
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