Union Pacific (UNP) Gross Margin (2009 - 2026)

Union Pacific has disclosed Gross Margin across 18 years of filings, most recently posting 94.73% for Q2 2026.

• In Q2 2026, Gross Margin fell 9.0% year-over-year to 94.73%; the TTM figure through Jun 2026 stood at 94.4% (down 21.0% YoY), while the FY2025 annual figure was 94.39%, down 14.0% from the prior year.
• Gross Margin came in at 94.73% for Q2 2026 at Union Pacific, up from 94.15% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 95.41% in Q4 2024 to a low of 93.64% in Q3 2023.
• Average Gross Margin over 5 years is 94.43%, with a median of 94.3% recorded in 2022.
• Year-over-year, Gross Margin tumbled 150 bps in 2023 and surged 127 bps in 2024.
• Over 5 years, Gross Margin stood at 95.13% in 2022, then fell by 1 bps to 94.14% in 2023, then gained by 1 bps to 95.41% in 2024, then dropped by 1 bps to 94.35% in 2025, then climbed by 0 bps to 94.73% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 94.73% in Q2 2026, 94.15% in Q1 2026, and 94.35% in Q4 2025.