FIP vs UNP vs NSC Stock Comparison

FTAI Infrastructure, Union Pacific and Norfolk Southern Prices as of Oct 27, 2026 Peers: Industry group
UNP Union Pacific Corp
$299.96 +9.6% 1M +37.5% 1Y
Market cap
$176.67B
P/E
23.2x
Revenue (TTM)
$26.36B
Div. yield
–
Railroads Industrials
8 wins
NSC Norfolk Southern Corp
$339.81 +8.6% 1M +20.7% 1Y
Market cap
$76.00B
P/E
28.3x
Revenue (TTM)
$12.96B
Div. yield
0.02%
Railroads Industrials
1 win

Head to Head

12 decided of 12

Union Pacific leads on 8 of the 12 questions below (Union Pacific 8, FTAI Infrastructure 3, Norfolk Southern 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFIPUNPNSCLeader
Larger companyMarket capitalisation $327.90M $176.67B $76.00B UNP
Cheaper on earningsLower P/E, profitable companies only -0.5x 23.2x 28.3x UNP
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 21.6x 27.8x UNP
Faster revenue growthRevenue growth, trailing twelve months +72.3% +7.4% +6.0% FIP
More profitableNet margin, trailing twelve months -91.9% 28.9% 20.7% UNP
Better return on capitalReturn on invested capital -15.3% 15.7% 9.7% UNP
Less leveragedLower net debt / EBITDA -11.3x 2.1x 2.7x FIP
Higher dividend yieldTrailing dividend yield 0.04% 0.00% 0.02% FIP
Better 1-year returnPrice return, last 12 months -51.3% +37.5% +20.7% UNP
Better 5-year returnAnnualised price return, 5 years — +4.4%/yr +3.0%/yr UNP
Less volatileAnnualised volatility, 1 year 70.1% 22.6% 20.9% NSC
Higher overall scoreMean of the five percentile scores vs peers 20/100 44/100 33/100 UNP

Percentile Scorecard

FIPUNPNSC

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisFIPUNPNSC
Valuation 1 #135 of 136 15 #116 of 136 10 #123 of 136
Growth 26 #90 of 121 60 #49 of 121 43 #69 of 121
Profitability 3 #112 of 115 89 #14 of 115 66 #40 of 115
Financial Health 1 #141 of 143 37 #90 of 143 30 #100 of 143
Shareholder Returns 72 #24 of 82 21 #65 of 82 16 #69 of 82
Overall 20 44 33
  • FIP ranked among 150 companies in Transportation
  • UNP ranked among 150 companies in Transportation
  • NSC ranked among 150 companies in Transportation

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodFIPUNPNSCSPY
1 month -14.4%+9.6%+8.6% -0.2%
3 months -34.6%+1.9%+0.3% +3.9%
6 months -52.2%+12.0%+7.3% +8.2%
Year to date -42.1%+29.7%+17.7% +12.9%
1 year -51.3%+37.5%+20.7% +12.3%
3 years -13.0%+48.7%+84.1% +87.4%
3 years, per year -4.5%+14.2%+22.6% +23.3%
5 years —+23.8%+15.9% +67.9%
5 years, per year —+4.4%+3.0% +10.9%
10 years —+237.7%+272.0% +261.1%
10 years, per year —+12.9%+14.0% +13.7%

Risk

MeasureFIPUNPNSCSPY
Volatility, 1Y 70.1%22.6%20.9% 12.7%
Downside volatility, 1Y 71.4%21.7%20.3% 12.7%
Beta vs S&P 500, 1Y 2.060.170.19 1.00
Return / volatility, 1Y -0.731.660.99 0.97
Max drawdown, 5Y -77.6%-32.9%-38.0% -25.4%
From 52-week high -58.5%-3.4%-3.7% -1.2%
52-week high $6.44$310.62$352.99 $779.14
52-week low $2.31$216.37$278.19 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleFIPUNPNSC
P/E now vs peer median -0.5xmedian 16.3x 23.4xmedian 16.3x 28.4xmedian 16.3x
P/S now vs peer median 0.5xmedian 1.0x 6.8xmedian 1.0x 5.9xmedian 1.0x
EV/EBITDA now vs peer median -12.6xmedian 8.7x 15.7xmedian 8.7x 16.6xmedian 8.7x
P/FCF now vs peer median -1.0xmedian 11.4x 26.6xmedian 11.4x 46.3xmedian 11.4x
P/B now vs peer median -0.6xmedian 1.2x 8.1xmedian 1.2x 4.6xmedian 1.2x
PEG now vs peer median 0.01median 0.82 3.30median 0.82 3.16median 0.82

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsFIPUNPNSC
Revenue $659.21M $26.36B $12.96B
Operating income – $10.57B $4.09B
Net income -$468.91M $7.62B $2.68B
Free cash flow -$318.87M $6.69B $1.65B
EPS (diluted) $-5.13 $12.81 $11.92
Cash & equivalents $32.63M $2.21B $1.60B
Total debt $2.76B $30.32B $16.61B
Shares (diluted) 118.16M 594.50M 225.20M
Enterprise value $165.34M $168.92B $70.46B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricFIPUNPNSC
P/E -0.5x 23.4x 28.4x
P/FCF -1.0x 26.6x 46.3x
P/Operating cash flow -5.5x 16.9x 20.2x
P/S 0.5x 6.8x 5.9x
P/B -0.6x 8.1x 4.6x
P/Tangible book -0.5x 8.1x 4.6x
EV/EBITDA -12.6x 15.7x 16.6x
EV/EBIT -6.9x 19.4x 22.3x
EV/Revenue 4.6x 7.8x 7.0x
EV/FCF -9.6x 30.7x 55.5x
EV/Operating cash flow -53.0x 19.5x 24.1x
PEG (3Y EPS CAGR) 0.01 3.30 3.16

Growth

14 metrics
MetricFIPUNPNSC
Revenue growth (1Y) 72.3% 7.4% 6.0%
Revenue CAGR (3Y) 28.8% 3.0% 1.7%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – 6.0% -10.2%
Operating income CAGR (3Y) – 5.2% 8.2%
Net income growth (1Y) -299.3% 8.0% -9.4%
Net income CAGR (3Y) -40.5% 6.2% 8.7%
EPS growth (1Y) -273.4% 7.8% -9.6%
EPS CAGR (3Y) -41.9% 7.1% 9.0%
Operating cash flow growth (1Y) 32.1% 8.2% -11.0%
Operating cash flow CAGR (3Y) -138.6% 8.3% 4.6%
Free cash flow growth (1Y) -10.8% 11.3% -21.5%
Free cash flow CAGR (3Y) -22.6% 12.0% 13.0%

Profitability

14 metrics
MetricFIPUNPNSC
Gross margin – – –
EBITDA margin -36.8% 49.7% 42.5%
Operating margin – 40.1% 31.5%
Pretax margin -66.7% 37.6% 26.4%
Net margin -91.9% 28.9% 20.7%
FCF margin -48.4% 25.4% 12.7%
Operating cash flow margin -8.7% 39.9% 29.2%
Return on equity – 35.7% 16.3%
Return on assets -8.2% 10.6% 5.9%
Return on invested capital -15.3% 15.7% 9.7%
Return on capital employed -10.0% 15.9% 9.8%
Asset turnover 0.1x 0.4x 0.3x
Cash conversion (OCF / net income) 0.1x 1.4x 1.4x
Stock comp / revenue 3.8% – –

Financial Health

11 metrics
MetricFIPUNPNSC
Debt / assets 48.1% 41.8% 36.2%
Debt / equity -5.3x 1.4x 1.0x
Net debt / EBITDA -11.3x 2.1x 2.7x
Debt / FCF -8.7x 4.5x 10.1x
Liabilities / assets 109.0% 69.7% 63.6%
Equity / assets -9.0% 30.3% 36.4%
Interest coverage – 8.3x 5.2x
Current ratio 0.3x 1.2x 0.9x
Quick ratio 0.0x 0.9x 0.8x
Cash ratio 0.0x 0.6x 0.4x
Altman Z-score -0.49 4.38 2.57

Shareholder Returns

7 metrics
MetricFIPUNPNSC
Dividend yield 4.5% 1.9% 1.6%
Net buyback yield – 0.0% 0.0%
Shareholder yield 4.5% 1.9% 1.6%
Payout ratio (earnings) -3.0% – 45.2%
Payout ratio (FCF) -4.4% – 73.6%
Dividend growth (1Y) 2.4% – -0.4%
Dividend CAGR (3Y) 14.9% – 0.2%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusFIPUNPNSC
Forward P/E – 21.6xFY2026 27.8xFY2026
EPS, next fiscal year $-3.58FY2026 $13.91FY2026 $12.23FY2026
EPS growth, next FY – +19.3%FY2026 -2.1%FY2026
EPS growth, the year after – -0.9% +24.4%
Revenue, next fiscal year $701.40MFY2026 $28.02BFY2026 $14.12BFY2026
Revenue growth, next FY +39.6%FY2026 +14.3%FY2026 +15.9%FY2026
Revenue growth, the year after +18.4% +5.5% +2.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFIPUNPNSC
Held by institutions 87.9% 89.0% 75.9%
Institutions holding 176 2,890 1,863
Change in shares held, QoQ +4.6% +2.4% +1.5%
Institutions buying 86 1,449 751
Institutions selling 47 985 631
Buyers to sellers 1.83 1.47 1.19

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

FIPUNPNSC
FIP 1.00 0.15 0.15
UNP 0.15 1.00 0.94
NSC 0.15 0.94 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FIP, UNP and NSC?

Union Pacific (UNP) is the largest by market capitalisation: FTAI Infrastructure (FIP) $327.90M, Union Pacific (UNP) $176.67B, Norfolk Southern (NSC) $76.00B.

Which stock is cheaper, FIP, UNP and NSC?

Union Pacific (UNP) trades on the lowest price-to-earnings ratio (FTAI Infrastructure (FIP) -0.5x, Union Pacific (UNP) 23.2x, Norfolk Southern (NSC) 28.3x). On next year's consensus earnings, Union Pacific (UNP) is cheapest (Union Pacific (UNP) 21.6x, Norfolk Southern (NSC) 27.8x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

FTAI Infrastructure (FIP) grew revenue fastest over the trailing twelve months: FTAI Infrastructure (FIP) +72.3%, Union Pacific (UNP) +7.4%, Norfolk Southern (NSC) +6.0%.

Which company is more profitable?

Union Pacific (UNP) has the highest net margin (FTAI Infrastructure (FIP) -91.9%, Union Pacific (UNP) 28.9%, Norfolk Southern (NSC) 20.7%). On return on invested capital, Union Pacific (UNP) leads (FTAI Infrastructure (FIP) -15.3%, Union Pacific (UNP) 15.7%, Norfolk Southern (NSC) 9.7%).

Which stock has performed better?

Over the past year Union Pacific (UNP) returned the most: FTAI Infrastructure (FIP) -51.3%, Union Pacific (UNP) +37.5%, Norfolk Southern (NSC) +20.7%. Over five years, Union Pacific (UNP) compounded fastest (Union Pacific (UNP) +4.4%/yr, Norfolk Southern (NSC) +3.0%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

FTAI Infrastructure (FIP) has the highest dividend yield: FTAI Infrastructure (FIP) 0.04%, Union Pacific (UNP) 0.00%, Norfolk Southern (NSC) 0.02%. Union Pacific (UNP) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Norfolk Southern (NSC) has been the steadiest (FTAI Infrastructure (FIP) 70.1%, Union Pacific (UNP) 22.6%, Norfolk Southern (NSC) 20.9%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FIP, UNP and NSC?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Union Pacific (UNP) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.