Union Pacific (UNP) Operating Margin (2009 - 2026)
Union Pacific's Operating Margin was 40.25% in Q2 2026, down 0.78 percentage points from 41.03% a year earlier but up 0.72 percentage points from the prior quarter.
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Analysis
Union Pacific (UNP) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Union Pacific's Operating Margin was 40.03% through Jun 30, 2026, down 0.30 percentage points year-over-year; for FY2025, it was 40.17%, up 0.12 percentage points from FY2024.
- Operating Margin shows a five-year change of +0.06 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 40.05% in FY2024 (+2.40 pp), 37.65% in FY2023 (-2.21 pp), 39.87% in FY2022 (-2.96 pp) and 42.83% in FY2021 (+2.72 pp).
- Quarterly Operating Margin has moved between 36.64% (Q3 2023) and 43.69% (Q3 2021) over five years.
- Compared with a year earlier, Operating Margin was higher in six of the last eight quarters, with an average year-over-year change of +0.63 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q4 2021 (a gain of 3.54 percentage points); the worst was Q2 2022 (a drop of 5.13 percentage points).
- Per Business Quant data, UNP's Operating Margin in the three quarters before Q2 2026 was 39.54% (Q1 2026), 39.46% (Q4 2025) and 40.82% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 162.83 Bn | 157.35 Bn | - | 40.25% |
| 2 | Csx | 86.94 Bn | 83.15 Bn | - | 38.27% |
| 3 | Canadian Pacific Kansas City | 76.07 Bn | 75.78 Bn | - | 35.35% |
| 4 | United Parcel Service | 70.39 Bn | 47.31 Bn | - | 4.07% |
| 5 | Norfolk Southern | 70.35 Bn | 64.99 Bn | - | 32.44% |
| 6 | Fedex | 68.01 Bn | 33.95 Bn | - | 6.20% |
| 7 | Delta Air Lines | 55.83 Bn | 38.01 Bn | - | 9.43% |
| 8 | Old Dominion Freight Line | 36.82 Bn | 36.08 Bn | - | 29.94% |
| 9 | Ryanair Holdings | 28.96 Bn | 12.97 Bn | 3.13 Bn | 13.12% |
| 10 | Copart | 25.14 Bn | 9.56 Bn | 645.66 Mn | 32.01% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.25% |
| Mar 31, 2026 | 39.54% |
| Dec 31, 2025 | 39.46% |
| Sep 30, 2025 | 40.82% |
| Jun 30, 2025 | 41.03% |
| Mar 31, 2025 | 39.34% |
| Dec 31, 2024 | 41.25% |
| Sep 30, 2024 | 39.67% |
| Jun 30, 2024 | 39.95% |
| Mar 31, 2024 | 39.33% |
| Dec 31, 2023 | 39.08% |
| Sep 30, 2023 | 36.64% |
| Jun 30, 2023 | 36.96% |
| Mar 31, 2023 | 37.88% |
| Dec 31, 2022 | 39.03% |
| Sep 30, 2022 | 40.10% |
| Jun 30, 2022 | 39.80% |
| Mar 31, 2022 | 40.56% |
| Dec 31, 2021 | 42.56% |
| Sep 30, 2021 | 43.69% |
API Access
Union Pacific Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=UNP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "UNP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=UNP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();