Union Pacific (UNP) 10-K Summary — Year Ended Dec 31, 2024

The company reported its latest annual financial results with revenue slightly higher than the prior period. The filing covers business overview, risk factors, management discussion, and liquidity and capital resources.

Key takeaway

Year ended Dec 31, 2024 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$24.3B

Revenue reported for the fiscal year.

Operating income

$9.7B

Income from operations reported for the year.

Net income

$6.7B

Net income reported for the year.

Operating cash flow

$9.3B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$21.8B	n/a
Dec 31, 2022	$24.9B	+14.1%
Dec 31, 2023	$24.1B	-3.0%
Dec 31, 2024	$24.3B	+0.5%

Business overview

The business overview section of the filing outlines the company's operations. The management discussion and analysis provides further insight into financial results. The company's business is described in Item 1 of the filing.

Financial performance

Revenue for the latest annual period increased modestly compared to the previous period. Operating income, net income, and operating cash flow were reported as part of the annual results.

Material risks

The filing identifies risk factors in Item 1A. The specific risks are detailed in the full filing, but the supplied context does not include their descriptions.

Liquidity and capital

The filing includes a discussion of liquidity and capital resources. No specific capital allocation themes are detailed in the supplied context.

What to watch

Investors should monitor the direction of revenue growth in the next filing.