Filing Flows › Union Pacific (UNP) › Operating margin
Union Pacific (UNP) operating margin by quarter
Union Pacific's operating margin was 40.9% in Q3 2026 (third quarter 2026), +0.6 pts from Q2 2026. Over the last 7 quarters it ranged from 39.3% (Q1 2025) to 41.0% (Q2 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 40.9% | +0.6 pts | +0.1 pts |
| Q2 2026 | 40.3% | +0.7 pts | -0.8 pts |
| Q1 2026 | 39.5% | +0.1 pts | +0.2 pts |
| Q4 2025 | 39.5% | -1.4 pts | — |
| Q3 2025 | 40.8% | -0.2 pts | — |
| Q2 2025 | 41.0% | +1.7 pts | — |
| Q1 2025 | 39.3% | — | — |
Q3 2026 at a glance
Union Pacific, Q3 2026: revenue $7.2B (+15% year over year), operating margin 40.9%, net earnings $2.1B, operating cash flow $2.8B. The chart follows the revenue to costs, profit and cash.
Questions
What is Union Pacific's operating margin?
Union Pacific's operating margin was 40.9% in Q3 2026 (third quarter 2026), +0.6 pts from Q2 2026.
How has Union Pacific's operating margin changed?
Over the last 7 quarters it ranged from 39.3% (Q1 2025) to 41.0% (Q2 2025).