Union Pacific (UNP) Tax Rate (2009 - 2026)
Union Pacific's Tax Rate was 23.84% in Q3 2026, up 0.98 percentage points from 22.86% a year earlier and up 1.85 percentage points from the prior quarter.
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Analysis
Union Pacific (UNP) Tax Rate (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Union Pacific's Tax Rate was 23.19% through Sep 30, 2026, up 1.21 percentage points year-over-year; for FY2025, it was 22.13%, down 1.15 percentage points from FY2024.
- Tax Rate shows a five-year change of -1.24 percentage points (FY2020 to FY2025).
- In earlier years, Tax Rate was 23.28% in FY2024 (+0.76 pp), 22.52% in FY2023 (-0.34 pp), 22.86% in FY2022 (-0.20 pp) and 23.06% in FY2021 (-0.31 pp).
- The Q3 2026 figure marks the highest quarterly Tax Rate since Q4 2023.
- Compared with a year earlier, Tax Rate has increased for four straight quarters, with an average year-over-year change of -0.24 percentage points over the last eight quarters.
- The best year-over-year quarter for Tax Rate over five years was Q2 2024 (a gain of 3.53 percentage points); the worst was Q2 2025 (a drop of 4.50 percentage points).
- Per Business Quant data, UNP's Tax Rate in the three quarters before Q3 2026 was 22.00% (Q2 2026), 23.69% (Q1 2026) and 23.26% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 178.63 Bn | 170.88 Bn | - | 23.84% |
| 2 | Csx | 94.16 Bn | 89.39 Bn | - | 23.99% |
| 3 | United Parcel Service | 83.47 Bn | 60.32 Bn | 22.04 Bn | 25.97% |
| 4 | Canadian Pacific Kansas City | 81.54 Bn | 81.26 Bn | 57.15 Mn | 32.84% |
| 5 | Fedex | 75.60 Bn | 41.80 Bn | 18.84 Bn | 24.21% |
| 6 | Norfolk Southern | 73.66 Bn | 68.13 Bn | - | 23.10% |
| 7 | Delta Air Lines | 60.67 Bn | 42.86 Bn | - | 29.61% |
| 8 | United Airlines Holdings | 39.17 Bn | -18.53 Bn | - | 21.51% |
| 9 | Old Dominion Freight Line | 34.72 Bn | 33.56 Bn | 1.56 Bn | 24.45% |
| 10 | Ryanair Holdings | 31.95 Bn | 16.22 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.84% |
| Jun 30, 2026 | 22.00% |
| Mar 31, 2026 | 23.69% |
| Dec 31, 2025 | 23.26% |
| Sep 30, 2025 | 22.86% |
| Jun 30, 2025 | 18.89% |
| Mar 31, 2025 | 23.55% |
| Sep 30, 2024 | 23.66% |
| Jun 30, 2024 | 23.40% |
| Mar 31, 2024 | 23.32% |
| Sep 30, 2023 | 21.60% |
| Jun 30, 2023 | 19.87% |
| Mar 31, 2023 | 23.90% |
| Sep 30, 2022 | 22.40% |
| Jun 30, 2022 | 21.65% |
| Mar 31, 2022 | 23.00% |
| Dec 31, 2021 | 23.20% |
| Sep 30, 2021 | 23.26% |
| Jun 30, 2021 | 22.37% |
| Mar 31, 2021 | 23.55% |
API Access
Union Pacific Tax Rate 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=tax-rate&ticker=UNP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=UNP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();