Union Pacific Corporation
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total operating revenue (FY2025) | $24.51 billion, up 1% year-over-year |
| Operating income (FY2025) | $9.85 billion |
| GAAP operating ratio (FY2025) | 59.8%, improved 10 basis points year-over-year |
| Adjusted (non-GAAP) operating ratio (FY2025) | 59.3%, improved 60 basis points year-over-year |
| Net income (FY2025) | $7.1 billion, up 6% year-over-year |
| Diluted EPS (FY2025) | $11.98, up 8% year-over-year |
| Average employees (FY2025) | 29,287, down from 30,336 in FY2024 |
| Workforce productivity (FY2025) | 1,132 car-miles per employee, up 7% year-over-year, a best-ever full-year result |
| Freight car velocity (FY2025) | 225 daily miles per car, up 8% year-over-year, a best-ever full-year result |
| Pending Norfolk Southern merger | announced July 2025 to create the first single-line transcontinental railroad; STB regulatory review was ongoing as of the FY2025 earnings release |
Sources: Freight revenue by business group and total operating revenue/income figures are from Union Pacific's Q4/Full-Year 2025 earnings release (SEC Form 8-K Exhibit 99.1, issued January 27, 2026). Union Pacific reports as a single operating segment (rail transportation), so no segment operating-income breakdown is disclosed; freight revenue is instead broken out by the three business groups shown. No credible, specifically-sourced third-party market-share estimate for Union Pacific's rail-freight business could be confirmed within available searching, so market share is omitted. Note: in July 2025 Union Pacific announced a proposed merger with Norfolk Southern to create the first single-line transcontinental railroad; as of the FY2025 earnings release the deal remained pending regulatory (Surface Transportation Board) review and is not reflected in these FY2025 results.