Union Pacific (UNP) Shares Outstanding (Diluted) (2009 - 2026)
Union Pacific's Weighted Average Shares Outstanding (Diluted) came in at 594.5 million for Q3 2026, up 0.2% from 593.2 million a year earlier and up 0.1% from the prior quarter.
Powered by 
Analysis
Union Pacific (UNP) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Union Pacific's Weighted Average Shares Outstanding (Diluted) was 595.9 million, down 2.1% from FY2024.
- Weighted Average Shares Outstanding (Diluted) has declined in each of the last 16 years, with a five-year compound annual growth rate of -2.6% (FY2020 to FY2025).
- Going back by year, Weighted Average Shares Outstanding (Diluted) was 608.6 million in FY2024 (-0.3%), 610.2 million in FY2023 (-2.2%), 624 million in FY2022 (-4.8%) and 655.4 million in FY2021 (-3.5%).
- The five-year range for quarterly Weighted Average Shares Outstanding (Diluted) is 593.2 million (Q3 2025) to 655.4 million (Q4 2021).
- Year-over-year, Weighted Average Shares Outstanding (Diluted) increased in 1 of the last eight quarters, with an average decline of 1.3%.
- The fastest year-over-year change in Weighted Average Shares Outstanding (Diluted) over five years came in Q3 2026 (growth of 0.2%), and the weakest in Q1 2022 (a decline of 5.3%).
- Business Quant data shows UNP's Weighted Average Shares Outstanding (Diluted) at 594 million (Q2 2026), 593.6 million (Q1 2026) and 595.9 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 174.04 Bn | 166.29 Bn | - | 594.50 Mn |
| 2 | Csx | 93.63 Bn | 88.85 Bn | - | 1.85 Bn |
| 3 | Canadian Pacific Kansas City | 78.71 Bn | 78.42 Bn | - | 887.10 Mn |
| 4 | United Parcel Service | 75.71 Bn | 52.63 Bn | - | 851.00 Mn |
| 5 | Norfolk Southern | 74.09 Bn | 68.55 Bn | - | 225.20 Mn |
| 6 | Fedex | 70.69 Bn | 36.64 Bn | - | 239.00 Mn |
| 7 | Delta Air Lines | 50.49 Bn | 32.68 Bn | - | 659.00 Mn |
| 8 | Old Dominion Freight Line | 37.91 Bn | 37.17 Bn | - | 208.72 Mn |
| 9 | United Airlines Holdings | 31.82 Bn | -25.88 Bn | - | 327.40 Mn |
| 10 | Ryanair Holdings | 27.42 Bn | 11.06 Bn | - | 532.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 594.50 Mn |
| Jun 30, 2026 | 594.00 Mn |
| Mar 31, 2026 | 593.60 Mn |
| Dec 31, 2025 | 595.90 Mn |
| Sep 30, 2025 | 593.20 Mn |
| Jun 30, 2025 | 594.80 Mn |
| Mar 31, 2025 | 601.90 Mn |
| Dec 31, 2024 | 608.60 Mn |
| Sep 30, 2024 | 608.60 Mn |
| Jun 30, 2024 | 610.30 Mn |
| Mar 31, 2024 | 610.20 Mn |
| Dec 31, 2023 | 610.20 Mn |
| Sep 30, 2023 | 609.80 Mn |
| Jun 30, 2023 | 609.50 Mn |
| Mar 31, 2023 | 611.50 Mn |
| Dec 31, 2022 | 624.00 Mn |
| Sep 30, 2022 | 621.50 Mn |
| Jun 30, 2022 | 626.80 Mn |
| Mar 31, 2022 | 633.60 Mn |
| Dec 31, 2021 | 655.40 Mn |
API Access
Union Pacific Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=UNP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=UNP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();