Union Pacific annual return on equity
2008
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2020
2021
2022
2023
2024
2025
Union Pacific Return on Equity (ROE) Growth & History (UNP)
Union Pacific's return on equity was 40.38% for fiscal 2025.
View full Union Pacific company overviewUnion Pacific annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 40.38% | −2.22 pp |
| 2024 | 2024-12-31 | 42.60% | −4.74 pp |
| 2023 | 2023-12-31 | 47.34% | −5.83 pp |
| 2022 | 2022-12-31 | 53.17% | +11.25 pp |
| 2021 | 2021-12-31 | 41.92% | +11.43 pp |
| 2020 | 2020-12-31 | 30.49% | −0.22 pp |
| 2019 | 2019-12-31 | 30.71% | +4.36 pp |
| 2018 | 2018-12-31 | 26.35% | −21.48 pp |
| 2017 | 2017-12-31 | 47.83% | +27.00 pp |
| 2016 | 2016-12-31 | 20.83% | −1.95 pp |
| 2015 | 2015-12-31 | 22.78% | −1.64 pp |
| 2014 | 2014-12-31 | 24.43% | +3.07 pp |
| 2013 | 2013-12-31 | 21.35% | +0.84 pp |
| 2012 | 2012-12-31 | 20.51% | +2.39 pp |
| 2011 | 2011-12-31 | 18.12% | +2.03 pp |
| 2010 | 2010-12-31 | 16.09% | +4.36 pp |
| 2009 | 2009-12-31 | 11.72% | −3.39 pp |
| 2008 | 2008-12-31 | 15.11% | — |
Union Pacific quarterly return on equity
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Q2.26
| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 9.94% | −1.67 pp |
| Q1 2026 | 2026-03-31 | 8.98% | −0.90 pp |
| Q4 2025 | 2025-12-31 | 10.33% | −0.20 pp |
| Q3 2025 | 2025-09-30 | 10.65% | +0.55 pp |
| Q2 2025 | 2025-06-30 | 11.62% | +1.21 pp |
| Q1 2025 | 2025-03-31 | 9.88% | −0.90 pp |
| Q4 2024 | 2024-12-31 | 10.53% | −0.95 pp |
| Q3 2024 | 2024-09-30 | 10.10% | −1.13 pp |
| Q2 2024 | 2024-06-30 | 10.41% | −1.83 pp |
| Q1 2024 | 2024-03-31 | 10.78% | −2.47 pp |
| Q4 2023 | 2023-12-31 | 11.48% | −2.23 pp |
| Q3 2023 | 2023-09-30 | 11.24% | −4.26 pp |
| Q2 2023 | 2023-06-30 | 12.23% | −2.68 pp |
| Q1 2023 | 2023-03-31 | 13.24% | +0.73 pp |
| Q4 2022 | 2022-12-31 | 13.70% | +1.52 pp |
| Q3 2022 | 2022-09-30 | 15.50% | +3.64 pp |
| Q2 2022 | 2022-06-30 | 14.91% | +3.15 pp |
| Q1 2022 | 2022-03-31 | 12.51% | +4.44 pp |
| Q4 2021 | 2021-12-31 | 12.19% | +4.11 pp |
| Q3 2021 | 2021-09-30 | 11.86% | +3.76 pp |
| Q2 2021 | 2021-06-30 | 11.77% | +4.79 pp |
| Q1 2021 | 2021-03-31 | 8.08% | −0.56 pp |
| Q4 2020 | 2020-12-31 | 8.08% | +0.32 pp |
| Q3 2020 | 2020-09-30 | 8.10% | −0.49 pp |
| Q2 2020 | 2020-06-30 | 6.98% | −1.76 pp |
| Q1 2020 | 2020-03-31 | 8.64% | +1.35 pp |
| Q4 2019 | 2019-12-31 | 7.76% | +0.20 pp |
| Q3 2019 | 2019-09-30 | 8.59% | +0.74 pp |
| Q2 2019 | 2019-06-30 | 8.74% | +1.93 pp |
| Q1 2019 | 2019-03-31 | 7.29% | +1.97 pp |
| Q4 2018 | 2018-12-31 | 7.57% | −25.51 pp |
| Q3 2018 | 2018-09-30 | 7.86% | +1.70 pp |
| Q2 2018 | 2018-06-30 | 6.81% | +0.87 pp |
| Q1 2018 | 2018-03-31 | 5.32% | −0.09 pp |
| Q4 2017 | 2017-12-31 | 33.08% | +27.39 pp |
| Q3 2017 | 2017-09-30 | 6.16% | +0.60 pp |
| Q2 2017 | 2017-06-30 | 5.94% | +1.15 pp |
| Q1 2017 | 2017-03-31 | 5.41% | +0.65 pp |
| Q4 2016 | 2016-12-31 | 5.69% | +0.28 pp |
| Q3 2016 | 2016-09-30 | 5.56% | −0.69 pp |
| Q2 2016 | 2016-06-30 | 4.79% | −0.94 pp |
| Q1 2016 | 2016-03-31 | 4.76% | −0.69 pp |
| Q4 2015 | 2015-12-31 | 5.41% | −1.29 pp |
| Q3 2015 | 2015-09-30 | 6.25% | −0.12 pp |
| Q2 2015 | 2015-06-30 | 5.73% | −0.32 pp |
| Q1 2015 | 2015-03-31 | 5.45% | +0.33 pp |
| Q4 2014 | 2014-12-31 | 6.70% | +1.11 pp |
| Q3 2014 | 2014-09-30 | 6.37% | +0.80 pp |
| Q2 2014 | 2014-06-30 | 6.05% | +0.61 pp |
| Q1 2014 | 2014-03-31 | 5.12% | +0.34 pp |
| Q4 2013 | 2013-12-31 | 5.59% | +0.34 pp |
| Q3 2013 | 2013-09-30 | 5.57% | +0.18 pp |
| Q2 2013 | 2013-06-30 | 5.44% | +0.14 pp |
| Q1 2013 | 2013-03-31 | 4.78% | +0.16 pp |
| Q4 2012 | 2012-12-31 | 5.26% | +0.06 pp |
| Q3 2012 | 2012-09-30 | 5.39% | +0.49 pp |
| Q2 2012 | 2012-06-30 | 5.30% | +0.98 pp |
| Q1 2012 | 2012-03-31 | 4.62% | +1.05 pp |
| Q4 2011 | 2011-12-31 | 5.19% | +0.79 pp |
| Q3 2011 | 2011-09-30 | 4.90% | +0.43 pp |
| Q2 2011 | 2011-06-30 | 4.32% | +0.20 pp |
| Q1 2011 | 2011-03-31 | 3.57% | +0.53 pp |
| Q4 2010 | 2010-12-31 | 4.40% | +1.10 pp |
| Q3 2010 | 2010-09-30 | 4.48% | +1.31 pp |
| Q2 2010 | 2010-06-30 | 4.12% | +1.16 pp |
| Q1 2010 | 2010-03-31 | 3.03% | — |
| Q4 2009 | 2009-12-31 | 3.30% | — |
| Q3 2009 | 2009-09-30 | 3.17% | — |
| Q2 2009 | 2009-06-30 | 2.96% | — |
Union Pacific return on equity trends
Over the last five fiscal years, Union Pacific's return on equity increased from 30.49% to 40.38%, a change of +9.89 percentage points. The latest reported quarter, Q2 2026, shows 9.94%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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