UNP Union Pacific Corporation
FY2025 10-K
Union Pacific Corporation (UNP) filed its fiscal year 2025 10-K annual report with the SEC on Feb 6, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core freight rail transportation connecting 23 western U.S. states, linking major ports, U.S., Canada, and Mexico gateways
- • Emphasis on Safety, Service, Operational Excellence as strategic pillars driving volume growth and margin improvement
Management Discussion & Analysis
- • Revenue $24.51B, up 1% YoY, driven by freight revenue growth $23.22B (+2%), offset by declines in subsidiary (-9%) and accessorial revenues (-14%)
- • Operating income $9.8B, up 1%, operating ratio improved slightly to 59.8% from 59.9%, net income $7.1B, up 6% with EPS $11.98, up 8%
Risk Factors
- • Regulatory risk: Impact of H.R.1 enacted July 4, 2025, making 2017 Tax Cuts and Jobs Act provisions permanent, favorably affecting cash flows
- • Geopolitical/macro risk: Inflation raising asset replacement costs, increasing depreciation expense on long-lived assets above historical levels
Financial SummaryXBRL
Revenue
$24.5B
Net Income
$7.1B
Operating Margin
40.2%
Net Margin
29.1%
ROE
38.7%
Total Assets
$69.7B
EPS (Diluted)
$11.98
Operating Cash Flow
$9.3B
Source: XBRL data from Union Pacific Corporation FY2025 10-K filing on SEC EDGAR. All figures in USD.
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