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Union Pacific vs Canadian Pacific Kansas City: UNP and CP compared
Union Pacific is the larger company: $7.2B of revenue in its latest quarter (Q3 2026) against $4.2B for Canadian Pacific Kansas City (Q3 2026). Union Pacific is growing faster (+15% against +15% a year earlier). Union Pacific is more profitable, with an operating margin of 40.9% against 35.2%.
Where the money goes: UNP and CP
Union Pacific (UNP) · Q3 2026
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.
Canadian Pacific Kansas City (CP) · Q3 2026
Canadian Pacific Kansas City, Q3 2026: revenue $4.2B (+15% year over year), operating margin 35.2%, net earnings $916M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Union Pacific (UNP) | Canadian Pacific Kansas City (CP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $7.2B | $4.2B |
| Revenue growth, Y/Y | +15% | +15% |
| Operating margin | 40.9% | 35.2% |
| Net earnings | $2.1B | $916M |
| Net margin | 28.8% | 21.7% |
| Operating cash flow | $2.8B | $1.6B |
| Free cash flow | $1.8B | $937M |
| Market value | $177.1B | $80.9B |
| P/E | 23.2× | 20.9× |
| Analysts’ mean target | $331.38 | $97.92 |
Where the revenue comes from
Union Pacific
- Freight revenues: $6.8B (95%)
- Other revenues: $384M (5%)
Canadian Pacific Kansas City
- Freight: $4.1B (98%)
- Non-freight: $80.0M (2%)
Questions
Which is bigger, Union Pacific or Canadian Pacific Kansas City?
Union Pacific is the larger company: $7.2B of revenue in its latest quarter (Q3 2026) against $4.2B for Canadian Pacific Kansas City (Q3 2026).
Is Union Pacific or Canadian Pacific Kansas City growing faster?
Union Pacific is growing faster (+15% against +15% a year earlier).
Which is more profitable, Union Pacific or Canadian Pacific Kansas City?
Union Pacific is more profitable, with an operating margin of 40.9% against 35.2%.
More: Union Pacific earnings · how Union Pacific makes money · Canadian Pacific Kansas City earnings · how Canadian Pacific Kansas City makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 22, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.