Union Pacific annual free cash flow
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2025
Union Pacific Free Cash Flow (FCF) History (UNP)
Union Pacific reported $5.50B in free cash flow for fiscal 2025, a decrease of 6.70% from the previous fiscal year, with a free cash flow margin of 22.44%.
View full Union Pacific company overviewUnion Pacific free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $5.50B | −$395.0M | −6.70% | +22.44% |
| 2024 | 2024-12-31 | $5.89B | $1.12B | +23.49% | +24.31% |
| 2023 | 2023-12-31 | $4.77B | −$969.0M | −16.88% | +19.79% |
| 2022 | 2022-12-31 | $5.74B | −$354.0M | −5.81% | +23.08% |
| 2021 | 2021-12-31 | $6.10B | $483.0M | +8.61% | +27.96% |
| 2020 | 2020-12-31 | $5.61B | $457.0M | +8.86% | +28.74% |
| 2019 | 2019-12-31 | $5.16B | −$93.0M | −1.77% | +23.75% |
| 2018 | 2018-12-31 | $5.25B | $1.26B | +31.49% | +22.99% |
| 2017 | 2017-12-31 | $3.99B | −$28.0M | −0.70% | +18.79% |
| 2016 | 2016-12-31 | $4.02B | $1.33B | +49.22% | +20.16% |
| 2015 | 2015-12-31 | $2.69B | −$345.0M | −11.35% | +12.35% |
| 2014 | 2014-12-31 | $3.04B | −$288.0M | −8.66% | +12.67% |
| 2013 | 2013-12-31 | $3.33B | $904.0M | +37.31% | +15.15% |
| 2012 | 2012-12-31 | $2.42B | −$274.0M | −10.16% | +11.58% |
| 2011 | 2011-12-31 | $2.70B | $1.07B | +66.17% | +13.79% |
| 2010 | 2010-12-31 | $1.62B | $773.0M | +90.94% | +9.57% |
| 2009 | 2009-12-31 | $850.0M | −$440.0M | −34.11% | +6.01% |
| 2008 | 2008-12-31 | $1.29B | $509.0M | +65.17% | +7.18% |
| 2007 | 2007-12-31 | $781.0M | — | — | +4.80% |
Union Pacific quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $2.20B | $806.0M | +57.70% | +32.09% |
| Q1 2026 | 2026-03-31 | $1.50B | $199.0M | +15.26% | +24.18% |
| Q4 2025 | 2025-12-31 | $1.23B | −$514.0M | −29.54% | +20.15% |
| Q3 2025 | 2025-09-30 | $1.57B | −$248.0M | −13.63% | +25.18% |
| Q2 2025 | 2025-06-30 | $1.40B | $388.0M | +38.45% | +22.70% |
| Q1 2025 | 2025-03-31 | $1.30B | −$21.0M | −1.58% | +21.64% |
| Q4 2024 | 2024-12-31 | $1.74B | $369.0M | +26.91% | +28.43% |
| Q3 2024 | 2024-09-30 | $1.82B | $669.0M | +58.12% | +29.88% |
| Q2 2024 | 2024-06-30 | $1.01B | −$174.0M | −14.71% | +16.80% |
| Q1 2024 | 2024-03-31 | $1.32B | $257.0M | +24.06% | +21.97% |
| Q4 2023 | 2023-12-31 | $1.37B | $9.0M | +0.66% | +22.26% |
| Q3 2023 | 2023-09-30 | $1.15B | −$707.0M | −38.05% | +19.37% |
| Q2 2023 | 2023-06-30 | $1.18B | $49.0M | +4.32% | +19.84% |
| Q1 2023 | 2023-03-31 | $1.07B | −$320.0M | −23.05% | +17.64% |
| Q4 2022 | 2022-12-31 | $1.36B | −$176.0M | −11.44% | +22.04% |
| Q3 2022 | 2022-09-30 | $1.86B | $329.0M | +21.52% | +28.30% |
| Q2 2022 | 2022-06-30 | $1.13B | −$473.0M | −29.43% | +18.09% |
| Q1 2022 | 2022-03-31 | $1.39B | −$34.0M | −2.39% | +23.69% |
| Q4 2021 | 2021-12-31 | $1.54B | −$376.0M | −19.64% | +26.83% |
| Q3 2021 | 2021-09-30 | $1.53B | $623.0M | +68.76% | +27.47% |
| Q2 2021 | 2021-06-30 | $1.61B | $162.0M | +11.21% | +29.20% |
| Q1 2021 | 2021-03-31 | $1.42B | $74.0M | +5.49% | +28.43% |
| Q4 2020 | 2020-12-31 | $1.91B | $527.0M | +38.00% | +31.45% |
| Q3 2020 | 2020-09-30 | $906.0M | −$523.0M | −36.60% | +19.71% |
| Q2 2020 | 2020-06-30 | $1.45B | $312.0M | +27.54% | +36.38% |
| Q1 2020 | 2020-03-31 | $1.35B | $141.0M | +11.68% | +27.62% |
| Q4 2019 | 2019-12-31 | $1.39B | $84.0M | +6.45% | +21.96% |
| Q3 2019 | 2019-09-30 | $1.43B | −$98.0M | −6.42% | +27.77% |
| Q2 2019 | 2019-06-30 | $1.13B | −$295.0M | −20.66% | +21.64% |
| Q1 2019 | 2019-03-31 | $1.21B | $216.0M | +21.80% | +24.09% |
| Q4 2018 | 2018-12-31 | $1.30B | $330.0M | +33.92% | +20.10% |
| Q3 2018 | 2018-09-30 | $1.53B | $378.0M | +32.90% | +27.47% |
| Q2 2018 | 2018-06-30 | $1.43B | $630.0M | +78.95% | +26.86% |
| Q1 2018 | 2018-03-31 | $991.0M | −$81.0M | −7.56% | +18.10% |
| Q4 2017 | 2017-12-31 | $973.0M | −$184.0M | −15.90% | +17.85% |
| Q3 2017 | 2017-09-30 | $1.15B | $221.0M | +23.81% | +21.25% |
| Q2 2017 | 2017-06-30 | $798.0M | $349.0M | +77.73% | +15.20% |
| Q1 2017 | 2017-03-31 | $1.07B | −$414.0M | −27.86% | +20.89% |
| Q4 2016 | 2016-12-31 | $1.16B | $765.0M | +195.15% | +22.39% |
| Q3 2016 | 2016-09-30 | $928.0M | $192.0M | +26.09% | +17.94% |
| Q2 2016 | 2016-06-30 | $449.0M | −$154.0M | −25.54% | +9.41% |
| Q1 2016 | 2016-03-31 | $1.49B | $523.0M | +54.31% | +30.77% |
| Q4 2015 | 2015-12-31 | $392.0M | −$515.0M | −56.78% | +7.53% |
| Q3 2015 | 2015-09-30 | $736.0M | −$243.0M | −24.82% | +13.23% |
| Q2 2015 | 2015-06-30 | $603.0M | $324.0M | +116.13% | +11.11% |
| Q1 2015 | 2015-03-31 | $963.0M | $89.0M | +10.18% | +17.15% |
| Q4 2014 | 2014-12-31 | $907.0M | −$174.0M | −16.10% | +14.74% |
| Q3 2014 | 2014-09-30 | $979.0M | $221.0M | +29.16% | +15.84% |
| Q2 2014 | 2014-06-30 | $279.0M | −$467.0M | −62.60% | +4.64% |
| Q1 2014 | 2014-03-31 | $874.0M | $132.0M | +17.79% | +15.50% |
| Q4 2013 | 2013-12-31 | $1.08B | $148.0M | +15.86% | +19.20% |
| Q3 2013 | 2013-09-30 | $758.0M | $228.0M | +43.02% | +13.60% |
| Q2 2013 | 2013-06-30 | $746.0M | $386.0M | +107.22% | +13.64% |
| Q1 2013 | 2013-03-31 | $742.0M | $142.0M | +23.67% | +14.03% |
| Q4 2012 | 2012-12-31 | $933.0M | $352.0M | +60.59% | +17.77% |
| Q3 2012 | 2012-09-30 | $530.0M | −$273.0M | −34.00% | +9.92% |
| Q2 2012 | 2012-06-30 | $360.0M | −$261.0M | −42.03% | +6.90% |
| Q1 2012 | 2012-03-31 | $600.0M | −$92.0M | −13.29% | +11.74% |
| Q4 2011 | 2011-12-31 | $581.0M | −$8.0M | −1.36% | +11.37% |
| Q3 2011 | 2011-09-30 | $803.0M | $408.0M | +103.29% | +15.74% |
| Q2 2011 | 2011-06-30 | $621.0M | $177.0M | +39.86% | +12.78% |
| Q1 2011 | 2011-03-31 | $692.0M | $497.0M | +254.87% | +15.41% |
| Q4 2010 | 2010-12-31 | $589.0M | $130.0M | +28.32% | +13.36% |
| Q3 2010 | 2010-09-30 | $395.0M | $446.0M | — | +8.96% |
| Q2 2010 | 2010-06-30 | $444.0M | $199.0M | +81.22% | +10.62% |
| Q1 2010 | 2010-03-31 | $195.0M | −$2.0M | −1.02% | +4.92% |
| Q4 2009 | 2009-12-31 | $459.0M | −$50.0M | −9.82% | +12.23% |
| Q3 2009 | 2009-09-30 | −$51.0M | — | — | −1.39% |
| Q2 2009 | 2009-06-30 | $245.0M | — | — | +7.42% |
| Q1 2009 | 2009-03-31 | $197.0M | — | — | +5.77% |
| Q3 2008 | 2008-09-30 | $509.0M | — | — | +10.50% |
Union Pacific free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $5.61B to $5.50B, a compound annual decline of 0.41%. Union Pacific's latest reported quarter, Q2 2026, generated $2.20B in free cash flow, an increase of 57.70% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Union Pacific filings at SEC.gov ↗