Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.9B | $21.2B | $22.8B | $21.7B | $19.5B | $21.8B | $24.9B | $24.1B | $24.3B | $24.5B |
| Revenue growth | — | 6.5% | 7.5% | -4.9% | -10.0% | 11.6% | 14.1% | -3.0% | 0.5% | 1.1% |
| Operating income | $7.24B | $8.11B | $8.52B | $8.55B | $7.83B | $9.34B | $9.92B | $9.08B | $9.71B | $9.85B |
| Operating margin | 36.3% | 38.2% | 37.3% | 39.4% | 40.1% | 42.8% | 39.9% | 37.7% | 40.1% | 40.2% |
| Net income | $4.23B | $10.7B | $5.97B | $5.92B | $5.35B | $6.52B | $7.00B | $6.38B | $6.75B | $7.14B |
| Net margin | 21.2% | 50.4% | 26.1% | 27.3% | 27.4% | 29.9% | 28.1% | 26.4% | 27.8% | 29.1% |
| EPS (diluted) | $5.07 | $13.36 | $7.91 | $8.38 | $7.88 | $9.95 | $11.21 | $10.45 | $11.09 | $11.98 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.53B | $7.23B | $8.69B | $8.61B | $8.54B | $9.03B | $9.36B | $8.38B | $9.35B | $9.29B |
| Capital expenditures | $3.50B | $3.24B | $3.44B | $3.45B | $2.93B | $2.94B | $3.62B | $3.61B | $3.45B | $3.79B |
| Free cash flow | $4.02B | $3.99B | $5.25B | $5.16B | $5.61B | $6.10B | $5.74B | $4.77B | $5.89B | $5.50B |
| Share buybacks | $3.10B | $4.01B | $8.22B | $5.80B | $3.71B | $7.29B | $6.28B | $705M | $1.50B | $2.68B |
| Dividends paid | $1.88B | $1.98B | $2.30B | $2.60B | $2.63B | $2.80B | $3.16B | $3.17B | $3.21B | $3.24B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.28B | $1.27B | $1.27B | $831M | $1.80B | $960M | $973M | $1.05B | $1.02B | $1.27B |
| Total assets | $55.7B | $57.8B | $59.1B | $61.7B | $62.4B | $63.5B | $65.4B | $67.1B | $67.7B | $69.7B |
| Total liabilities | $35.8B | $33.0B | $38.7B | $43.5B | $45.4B | $49.4B | $53.3B | $52.3B | $50.8B | $51.2B |
| Long-term debt | $15.0B | $16.9B | $22.4B | $25.2B | $26.7B | $29.7B | $33.3B | $32.6B | $31.2B | $31.8B |
| Shareholders' equity | $19.9B | $24.9B | $20.4B | $18.1B | $17.0B | $14.2B | $12.2B | $14.8B | $16.9B | $18.5B |
| Retained earnings | $32.6B | $41.3B | $45.3B | $48.6B | $51.3B | $55.0B | $58.9B | $62.1B | $65.6B | $69.5B |
| Shares (wtd avg diluted) | 835M | 802M | 754M | 706M | 679M | 655M | 624M | 610M | 609M | 596M |
Every figure is extracted from UNION PACIFIC CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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