Industrial was Union Pacific’s largest segment in fiscal 2025, bringing in $8.60B of $24.51B (35%).
| Segment | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cargo & Freight | — | — | — | — | ||||||
| Industrial | $8.21B | $8.24B | $8.44B | $8.60B | ||||||
| Bulk | $7.54B | $7.36B | $7.21B | $7.59B | ||||||
| Premium | $7.42B | $6.98B | $7.16B | $7.03B | ||||||
| Product & Service, Other | — | — | — | — | ||||||
| Other Subsidiary Revenues | $884.00M | $872.00M | $788.00M | $718.00M | ||||||
| Accessorial Revenues | $779.00M | $584.00M | $554.00M | $475.00M | ||||||
| Other | $53.00M | $92.00M | $97.00M | $97.00M | ||||||
| Other Miscellaneous Product & Service Revenues | — | — | — | — | ||||||
| Total | $24.88B | $24.12B | $24.25B | $24.51B |
Union Pacific brought in $24.51B from its six segments in fiscal 2025, the year ended December 31, 2025. That was up 1.1% from $24.25B in fiscal 2024. Industrial was the largest at $8.60B (35.1%), ahead of Bulk at $7.59B (31.0%) and Premium at $7.03B (28.7%). The other three segments brought in $1.29B combined.
Compared with fiscal 2024, Bulk grew fastest, up 5.3% to $7.59B, while Other Subsidiary Revenues fell the most, down 8.9% to $718.00M. From fiscal 2022 to 2025, combined revenue from these segments fell from $24.88B to $24.51B, a compound annual decline of 0.5%. Industrial's share of the total rose from 33.0% to 35.1%.
Union Pacific (UNP) reports its revenue by segment. In fiscal 2025, Industrial was its largest segment, bringing in $8.60B (35.1% of the total), followed by Bulk at $7.59B (31.0%).
Industrial was Union Pacific's largest segment in fiscal 2025, bringing in $8.60B, or 35.1% of the $24.51B total across its six segments.
Among Union Pacific's segments that make up at least 2% of revenue, Bulk grew fastest in fiscal 2025, up 5.3% from $7.21B to $7.59B.
Every figure comes from Union Pacific's annual financial filings, as reported. Each line keeps the name Union Pacific gives it, and years follow its fiscal calendar.
Union Pacific's revenue by segment goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.