Union Pacific (UNP) Gross Margin (2009 - 2026)
Union Pacific (UNP) posted Gross Margin of 94.73% for Q2 2026, up 0.62% sequentially from 94.15% in Q1 2026, and down 9.0% YoY from 104.09% in Q2 2025.
Union Pacific (UNP) Gross Margin (2009 - 2026) Analysis & Trends
Union Pacific has reported Gross Margin for 18 years, with the latest figure at 94.73% in Q2 2026.
- Quarterly Gross Margin fell 9.0% year-over-year to 94.73% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 94.4% (down 21.0% YoY) and the FY2025 annual result came in at 94.39%, down 14.0% from the prior year.
- Gross Margin improved to 94.73% in Q2 2026 per UNP's latest filing, from 94.15% in the prior quarter.
- Over five years, Gross Margin peaked at 95.41% in Q4 2024 and troughed at 93.64% in Q3 2023.
- A 5-year average of 94.43% and a median of 94.3% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2023 and 2024: Gross Margin plunged 150 bps in 2023, then soared 127 bps in 2024.
- Over 5 years, Gross Margin stood at 95.13% in 2022, then decreased by 1 bps to 94.14% in 2023, then climbed by 1 bps to 95.41% in 2024, then fell by 1 bps to 94.35% in 2025, then increased by 0 bps to 94.73% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 94.73%, 94.15%, and 94.35% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 180.52 Bn | 178.40 Bn | 6.50 Bn | 94.73% |
| 2 | Csx | 94.59 Bn | 93.20 Bn | 3.29 Bn | 83.63% |
| 3 | Canadian Pacific Kansas City | 84.21 Bn | 83.94 Bn | 2.92 Bn | 96.88% |
| 4 | Canadian National Railway | 78.52 Bn | 78.52 Bn | - | - |
| 5 | Norfolk Southern | 77.93 Bn | 76.86 Bn | - | - |
| 6 | Westinghouse Air Brake Technologies | 49.47 Bn | 48.80 Bn | 1.16 Bn | 36.52% |
| 7 | Trinity Industries | 2.37 Bn | 2.21 Bn | 109.90 Mn | 22.66% |
| 8 | Greenbrier Companies | 1.42 Bn | 1.15 Bn | 81.10 Mn | 14.07% |
| 9 | Foster L B | 390.24 Mn | 384.46 Mn | 30.87 Mn | 22.28% |
| 10 | FreightCar America | 228.00 Mn | 163.70 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 94.73% |
| Mar 31, 2026 | 94.15% |
| Dec 31, 2025 | 94.35% |
| Sep 30, 2025 | 94.36% |
| Jun 30, 2025 | 94.82% |
| Mar 31, 2025 | 94.04% |
| Dec 31, 2024 | 95.41% |
| Sep 30, 2024 | 94.19% |
| Jun 30, 2024 | 94.41% |
| Mar 31, 2024 | 94.11% |
| Dec 31, 2023 | 94.14% |
| Sep 30, 2023 | 93.64% |
| Jun 30, 2023 | 94.11% |
| Mar 31, 2023 | 94.11% |
| Dec 31, 2022 | 95.13% |
| Sep 30, 2022 | 95.14% |
| Jun 30, 2022 | 94.72% |
| Mar 31, 2022 | 94.25% |
| Dec 31, 2021 | 94.73% |
| Sep 30, 2021 | 95.15% |