UNP Union Pacific margins

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Relative Strength: Rel. Strength:
Relative Valuation: Rel. Valuation:
Relative Profitability: Rel. Profitability: 90
Gross margin
73.9%
Operating margin
40.1%
EBITDA margin
52.1%
Net margin
28.9%

Based on the latest figures, Union Pacific reports a gross margin of 73.9%, an operating margin of 40.1%, an EBITDA margin of 52.1%, and a net margin of 28.9%. Net margin headed the available margin improvements with a 0.2 percentage-point increase, while gross margin dropped by 2.1 percentage points.

UNP margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Union Pacific recorded average margins of 74.99% gross, 39.63% operating, 51.39% EBITDA, and 27.98% net. At Union Pacific, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

UNP margin expansion

Year-over-year margin changes in percentage points

Union Pacific's net margin expanded by 0.2 percentage points, but gross margin contracted by 2.1 percentage points and operating margin by 0.5 percentage points.

Gross margin expansion
-2.1pp
Operating margin expansion
-0.5pp
EBITDA margin expansion
0pp
Net margin expansion
0.2pp

UNP Gross margin

Over the last 3 years, the average gross margin for Union Pacific was 74.99%. The latest gross margin for Union Pacific is 73.9%, 1.1 percentage points below its three-year average. Union Pacific's gross margin ranged from a low of 73.2% in Dec 2023 to a high of 76% in Sep 2025.

UNP Operating margin

The average operating margin for Union Pacific was 39.63% over the last 3 years. Union Pacific currently reports an operating margin of 40.1%, 0.5 percentage points above its three-year average. The operating margin for Union Pacific moved between 37.7% in Dec 2023 and 40.6% in Sep 2025.

UNP EBITDA margin

The average EBITDA margin for Union Pacific was 51.39% in the last 3 years. Against its three-year average, Union Pacific's EBITDA margin is currently 52.1%, 0.7 percentage points above its three-year average. The EBITDA margin for Union Pacific moved between 49.3% in Dec 2023 and 52.9% in Mar 2026.

UNP Net margin

Across the last 3 years, Union Pacific's net margin averaged 27.98%. Against its three-year average, Union Pacific's net margin is currently 28.9%, 0.9 percentage points above its three-year average. Net margin was highest at 29.2% in Mar 2026 and lowest at 26.4% in Dec 2023.

UNP margin group comparison

Margins compared with peer-group, industry and sector averages

Union Pacific's gross margin of 73.9% is higher than the Industrials sector and the industry average. Looking at the Industrials sector average of 32.5%, Union Pacific's gross margin is 127% higher.

UNP margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Union Pacific's gross margin?

For the period ending Sep 30, 2026, UNP recorded a gross margin of 73.9%.

What is Union Pacific's operating margin?

The current operating margin for UNP is 40.1% as of Sep 30, 2026.

What is Union Pacific's EBITDA margin?

As of Sep 30, 2026, UNP has an EBITDA margin of 52.1%.

What is Union Pacific's net margin?

For the period ending Sep 30, 2026, UNP recorded a net margin of 28.9%.

What are the average margins of UNP?

Union Pacific's average margins over the last 3 years were 75.0% gross, 39.6% operating, 51.4% EBITDA, and 28.0% net.

What are the highest historical margins of UNP?

Looking back across 5 years, UNP reached 77.4% gross in Dec 2021, 42.9% operating in Mar 2022, 54.3% EBITDA in Dec 2021, and 30.1% net in Mar 2022.

What are the lowest historical margins of UNP?

In the last 5 years, the lowest margins reported by UNP were 72.3% gross in Mar 2023, 37.6% operating in Sep 2023, 49.1% EBITDA in Sep 2023, and 26.4% net in Sep 2023.