UNPUnion Pacific Corporation

Industrials · Railroads · NYSE

Union Pacific Railroad Company is the principal operating company of Union Pacific Corporation. 10-K, Item 1

Employees: 29,287
Headquarters: Omaha, NE
Next results: around Jan 26, 2027

RevenueFY2016–25 $24.5B+1.1% FY2024: $24.2B 10-K FY2025 · XBRL Net incomeFY2016–25 $7.1B+5.8% FY2024: $6.7B 10-K FY2025 · XBRL Free cash flowFY2016–25 $5.5B−6.7% FY2024: $5.9B 10-K FY2025 · XBRL Operating marginFY2016–25 40.2%+0.1 pts 36.3% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 6, 2026 against Feb 7, 2025

Area	What changed	Source
Risk factors	40 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	10 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	3 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 6, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-07. Quoted as filed.

The mergers are subject to conditions, some or all of which may not be satisfied or completed on a timely basis, if at all. Failure to complete the mergers could have material adverse effects on our business — On July 28, 2025, the Company, Norfolk Southern, Ruby Merger Sub 1 Corporation, and Ruby Merger Sub 2 LLC, entered into an…
10-K, Item 1A

All 40 new paragraphs →

Accounting checks

latest 10-K

10 of 10 clear 0 worth a look. Checks, not verdicts.

✓
Receivables -1.8% vs revenue +1.1% (-2.9 pts)
✓
Cash from operations $9.3B vs net income $7.1B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Deloitte & Touche LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: Table of Contents. Same as last year: Capitalization of Properties
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 22, 20268-K Quarterly results 8-K item 2.02
Oct 22, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 16, 2026Officer CFO change Hamann plans to retire as Executive Vice President and Chief Financial Officer effective in early 2027.

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Work on UNP in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/UNP/export.csv") into a cell.