Union Pacific Quarterly Cash Flow Statement
NYSE: UNPIndustrialsRailroadsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Union Pacific free cash flow
In the quarter ended Jun 30, 2026, Union Pacific generated $3.08 billion of operating cash flow and spent $873.0 million on capital expenditures. That left free cash flow of $2.20 billion, a free-cash-flow margin of 32.1% of revenue. Free cash flow was up 57.7% from the prior year's $1.40 billion.
Union Pacific returned $845.0 million to shareholders: $819.0 million in dividends and $26.0 million in share repurchases, equal to 38% of free cash flow. Free cash flow covered dividend payments 2.7 times.
Summary generated from market data by MetaCap's automated system. Methodology
Union Pacific cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 1.99B | 1.70B | 1.85B | 1.79B | 1.88B | 1.63B | 1.76B | 1.67B | 1.67B | 1.64B | 1.65B | 1.53B |
| Net Income growth (YoY) | +6.24% | +4.61% | +4.88% | +7.00% | +12.13% | -0.91% | +6.66% | +9.36% | +6.63% | +0.67% | +0.85% | -19.37% |
| Depreciation & Amortization | 638.00M | 633.00M | 624.00M | 618.00M | 613.00M | 610.00M | 606.00M | 602.00M | 596.00M | 594.00M | 589.00M | 580.00M |
| Stock-Based Compensation | 31.00M | 29.00M | 32.00M | 39.00M | 37.00M | 34.00M | 31.00M | 33.00M | 28.00M | 26.00M | 23.00M | 32.00M |
| Change in Working Capital | 43.00M | -261.00M | 189.00M | -127.00M | 83.00M | -307.00M | 413.00M | 13.00M | 251.00M | -309.00M | 27.00M | -149.00M |
| Operating Cash Flow | 3.08B | 2.44B | 2.23B | 2.52B | 2.33B | 2.21B | 2.66B | 2.65B | 1.91B | 2.12B | 2.40B | 2.13B |
| Capital Expenditures | -873.00M | -937.00M | -999.00M | -950.00M | -936.00M | -906.00M | -922.00M | -831.00M | -902.00M | -797.00M | -1.02B | -975.00M |
| Investing Cash Flow | -1.08B | -988.00M | -971.00M | -952.00M | -901.00M | -938.00M | -899.00M | -834.00M | -790.00M | -802.00M | -1.02B | -976.00M |
| Dividends Paid | -819.00M | -821.00M | -818.00M | -819.00M | -795.00M | -804.00M | -810.00M | -815.00M | -793.00M | -795.00M | -793.00M | -792.00M |
| Share Repurchases | -26.00M | 0 | 0 | 0 | -1.26B | -1.42B | -674.00M | -731.00M | -100.00M | 0 | 0 | 0 |
| Debt Issued | 0 | 0 | 0 | 0 | -1.00M | 2.00B | 0 | 0 | 400.00M | 400.00M | 0 | 0 |
| Financing Cash Flow | -1.13B | -1.98B | -804.00M | -1.82B | -1.77B | -878.00M | -1.69B | -2.01B | -917.00M | -1.45B | -1.08B | -1.21B |
| Net Change in Cash | 872.00M | -529.00M | 450.00M | -253.00M | -339.00M | 394.00M | 71.00M | -190.00M | 204.00M | -131.00M | 293.00M | -62.00M |
| Free Cash Flow | 2.20B | 1.50B | 1.23B | 1.57B | 1.40B | 1.30B | 1.74B | 1.82B | 1.01B | 1.32B | 1.37B | 1.15B |
This table shows 12 quarterly periods of Union Pacific's cash flow statement, from Q2 2026 back to Q3 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow UNP's reporting calendar. What is a cash flow statement?