Union Pacific Corporation (UNP) Margin Analysis

Union Pacific Corporation

UNP (NYSE)

(%)

Models
Union Pacific Corporation Margin Analysis

# --- Years and Quarters
assumptions.set({
    "timeseries": "annual",
    "data": {
        "#years": """
            4
        """,
        "#quarters": """
            8
        """,
    },
    "titles": {
        "#years": "Years",
        "#quarters": "Quarters",
    },
    "properties": {
        "width": "responsive",
        "title": "Years and Quarters",
        "id": "component-1",
        "bindTo": None
    },
    "descriptions": {
        "#years": r"""
The number of historical years used to render the annual chart and tables.
        """,
        "#quarters": r"""
The number of historical quarters used to render the quarterly chart and tables.
        """,
    }
})

# Render description block
model.render_description({
    "data": r"""
## Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.
""",
    "properties": {
        "width": "responsive"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Annual Section

The annual section uses annual data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

# --- Income Statement Margins
data.compute({
    "user:%revenueGrowthRate": """
        ( income:revenue / income:revenue:-1 ) - 1
    """,
    "user:%grossMargin": """
        income:grossProfit / income:revenue
    """,
    "user:%operatingMargin": """
        income:operatingIncome / income:revenue
    """,
    "user:%netMargin": """
        income:netIncome / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

# --- Cash Flow Statement Margins
data.compute({
    "user:%cashFromOperatingActivitiesMargin": """
        flow:netCashProvidedByOperatingActivities / income:revenue
    """,
    "user:%freeCashFlowMargin": """
        flow:freeCashFlow / income:revenue
    """,
    "user:%depreciationAndAmortizationMargin": """
        flow:depreciationAndAmortization / income:revenue
    """,
    "user:%capitalExpenditureMargin": """
        flow:capitalExpenditure / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "annual",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Annual Chart",
        "include_ltm": False,
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "quarterly",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Quarterly Chart",
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

Years and Quarters

Years Years The number of historical years used to render the annual chart and tables.	#
Quarters Quarters The number of historical quarters used to render the quarterly chart and tables.	#

Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.

Annual Section

The annual section uses annual data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	LTM Mar 17	2025 Dec 31	2024 Dec 31	2023 Dec 31	2022 Dec 31
Revenue	24,510	24,510	24,250	24,119	24,875
Revenue Growth Rate	0%	1.07%	0.543%	-3.04%	14.08%
Cost of Revenue	13,311	9,957	13,211	13,590	13,670
Gross Profit	11,199	14,553	11,039	10,529	11,205
Gross Margin	45.69%	59.38%	45.52%	43.65%	45.05%
Operating Income	9,825	9,839	9,713	9,082	9,917
Operating Margin	40.09%	40.14%	40.05%	37.65%	39.87%
Net Income	7,138	7,138	6,747	6,379	6,998
Net Margin	29.12%	29.12%	27.82%	26.45%	28.13%

Cash Flow Statement Margins

Monetary values in USD amounts except #	LTM Mar 17	2025 Dec 31	2024 Dec 31	2023 Dec 31	2022 Dec 31
Revenue	24,510	24,510	24,250	24,119	24,875
Cash from Operating Activities	9,290	9,290	9,346	8,379	9,362
Cash from Operating Activities Margin	37.9%	37.9%	38.54%	34.74%	37.64%
Free Cash Flow	5,499	5,499	5,894	4,773	5,742
Free Cash Flow Margin	22.44%	22.44%	24.31%	19.79%	23.08%
Depreciation and Amortization	650.8	2,465	2,398	2,318	2,246
Depreciation and Amortization Margin	2.66%	10.06%	9.89%	9.61%	9.03%
Capital Expenditure	-3,791	-3,791	-3,452	-3,606	-3,620
Capital Expenditure Margin	-15.47%	-15.47%	-14.24%	-14.95%	-14.55%

Annual Chart

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Annual Chart", "timeseries": "annual", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 45.05}, {"l": "2023", "x": "2023-12-31", "y": 43.65}, {"l": "2024", "x": "2024-12-31", "y": 45.52}, {"l": "2025", "x": "2025-12-31", "y": 59.38}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 39.87}, {"l": "2023", "x": "2023-12-31", "y": 37.65}, {"l": "2024", "x": "2024-12-31", "y": 40.05}, {"l": "2025", "x": "2025-12-31", "y": 40.14}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 28.13}, {"l": "2023", "x": "2023-12-31", "y": 26.45}, {"l": "2024", "x": "2024-12-31", "y": 27.82}, {"l": "2025", "x": "2025-12-31", "y": 29.12}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 23.08}, {"l": "2023", "x": "2023-12-31", "y": 19.79}, {"l": "2024", "x": "2024-12-31", "y": 24.31}, {"l": "2025", "x": "2025-12-31", "y": 22.44}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	2025 (Q4) Dec 31	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30
Revenue	6,085	6,244	6,154	6,027	6,121	6,091
Revenue Growth Rate	-2.55%	1.46%	2.11%	-1.54%	0.493%
Cost of Revenue	3,354	3,343	3,317	3,297	3,315	3,321
Gross Profit	2,731	2,901	2,837	2,730	2,806	2,770
Gross Margin	44.88%	46.46%	46.1%	45.3%	45.84%	45.48%
Operating Income	2,387	2,549	2,518	2,371	2,525	2,409
Operating Margin	39.23%	40.82%	40.92%	39.34%	41.25%	39.55%
Net Income	1,848	1,788	1,876	1,626	1,762	1,671
Net Margin	30.37%	28.64%	30.48%	26.98%	28.79%	27.43%

Cash Flow Statement Margins

Monetary values in USD amounts except #	2025 (Q4) Dec 31	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30
Revenue	6,085	6,244	6,154	6,027	6,121	6,091
Cash from Operating Activities	2,225	2,522	2,333	2,210	2,662	2,651
Cash from Operating Activities Margin	36.57%	40.39%	37.91%	36.67%	43.49%	43.52%
Free Cash Flow	1,226	1,572	1,397	1,304	1,740	1,820
Free Cash Flow Margin	20.15%	25.18%	22.7%	21.64%	28.43%	29.88%
Depreciation and Amortization	624	-1,196	613	610	606	602
Depreciation and Amortization Margin	10.25%	-19.16%	9.96%	10.12%	9.9%	9.88%
Capital Expenditure	-999	-950	-936	-906	-922	-831
Capital Expenditure Margin	-16.42%	-15.21%	-15.21%	-15.03%	-15.06%	-13.64%

Quarterly Chart

Monetary values in USD

{"sectionId": "section-chart-2", "sectionType": "chart", "title": "Quarterly Chart", "timeseries": "quarterly", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 45.48}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 45.84}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 45.3}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 46.1}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 46.46}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 44.88}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 39.55}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 41.25}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 39.34}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 40.92}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 40.82}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 39.23}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 27.43}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 28.79}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 26.98}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 30.48}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 28.64}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 30.37}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 29.88}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 28.43}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 21.64}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 22.7}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 25.18}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 20.15}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}