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Union Pacific (UNP) Operating Expenses (2016 - 2025)

Union Pacific's Operating Expenses history spans 17 years, with the latest figure at $3.7 billion for Q4 2025.

  • For Q4 2025, Operating Expenses rose 2.45% year-over-year to $3.7 billion; the TTM value through Dec 2025 reached $14.7 billion, up 0.87%, while the annual FY2025 figure was $14.7 billion, 0.87% up from the prior year.
  • Operating Expenses for Q4 2025 was $3.7 billion at Union Pacific, roughly flat from $3.7 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $3.9 billion in Q3 2022 and bottomed at $3.0 billion in Q1 2021.
  • The 5-year median for Operating Expenses is $3.7 billion (2024), against an average of $3.6 billion.
  • The largest annual shift saw Operating Expenses rose 25.49% in 2022 before it decreased 4.3% in 2023.
  • A 5-year view of Operating Expenses shows it stood at $3.3 billion in 2021, then increased by 14.42% to $3.8 billion in 2022, then dropped by 0.42% to $3.8 billion in 2023, then dropped by 4.16% to $3.6 billion in 2024, then increased by 2.45% to $3.7 billion in 2025.
  • Per Business Quant, the three most recent readings for UNP's Operating Expenses are $3.7 billion (Q4 2025), $3.7 billion (Q3 2025), and $3.6 billion (Q2 2025).