Company Valuation: Union Pacific Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 161,960 133,120 149,729 138,251 137,210 168,955 - -
Change - -17.81% 12.48% -7.67% -0.75% 23.14% - -
Enterprise Value (EV) 1 190,683 165,427 181,237 168,407 167,758 195,575 192,312 188,922
Change - -13.24% 9.56% -7.08% -0.39% 16.58% -1.67% -1.76%
P/E 25.3x 18.5x 23.5x 20.6x 19.3x 22x 20.2x 18.3x
PBR 11.6x 10.6x 10.1x 8.22x 7.46x 7.4x 6.28x 5.31x
PEG - 1.5x -3.47x 3.36x 2.4x 2.84x 2.22x 1.8x
Capitalization / Revenue 7.43x 5.35x 6.21x 5.7x 5.6x 6.31x 6.05x 5.78x
EV / Revenue 8.75x 6.65x 7.51x 6.94x 6.84x 7.31x 6.88x 6.46x
EV / EBITDA 16.5x 13.6x 15.9x 13.9x 13.6x 14.4x 13.2x 12.3x
EV / EBIT 20.4x 16.7x 20x 17.3x 17x 17.9x 16.3x 14.9x
EV / FCF 31.3x 28.8x 38x 28.6x 30.5x 27x 24.9x 23.1x
FCF Yield 3.2% 3.47% 2.63% 3.5% 3.28% 3.7% 4.02% 4.33%
Dividend per Share 2 4.29 5.08 5.2 5.28 5.44 5.546 5.719 6.106
Rate of return 1.7% 2.45% 2.12% 2.32% 2.35% 1.95% 2.01% 2.15%
EPS 2 9.95 11.21 10.45 11.09 11.98 12.91 14.08 15.53
Distribution rate 43.1% 45.3% 49.8% 47.6% 45.4% 43% 40.6% 39.3%
Net sales 1 21,804 24,875 24,119 24,250 24,510 26,762 27,934 29,247
EBITDA 1 11,546 12,163 11,400 12,111 12,311 13,583 14,536 15,420
EBIT 1 9,338 9,917 9,082 9,713 9,846 10,930 11,817 12,709
Net income 1 6,523 6,998 6,379 6,747 7,138 7,657 8,360 9,095
Net Debt 1 28,723 32,307 31,508 30,156 30,548 26,620 23,357 19,966
Reference price 2 251.93 207.07 245.62 228.04 231.32 284.40 284.40 284.40
Nbr of stocks (in thousands) 642,876 642,876 609,597 606,257 593,161 594,075 - -
Announcement Date 1/20/22 1/24/23 1/25/24 1/23/25 1/27/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.03x7.31x14.4x1.95% 169B
24.37x7.11x14.84x1.17% 90.67B
25.74x6.54x14.7x1.69% 71.94B
13.87x0.86x5.25x4.29% 14.21B
14.69x2.7x6.54x6.32% 4.5B
27.29x3.44x15.77x2.05% 3.98B
-0.91x - - 3.63% 391M
Average 18.15x 4.66x 11.92x 3.01% 50.66B
Weighted average by Cap. 22.99x 6.74x 14.12x 1.85%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  5. Valuation Union Pacific Corporation
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