Union Pacific Corp (UNP)

Railroads, Line-Haul Operating

Latest Price

$272.13

TTM P/E

22.02

Normalized P/E

24.11

Div Yield

2.03%

Book Value

34.82

P/B Ratio

7.82

Valuation metrics

EPS: $11.98

Book value / share: $31.13

Formula: √(22.5 × EPS × BVPS)

Graham Number

$91.60

66% downside

Norm. op. income: $9.3B (median of 7yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$69.62

74% downside

Base FCF: $5.7B (median of recent 5yr)

Growth: 1%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$75.16

72% downside

EPS: $11.98

Target P/E: 24×

Formula: EPS × P/E

P/E Fair Value

$287.52

+6% upside

90.1% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	47.89M	$13.03B	8.06%	+115.6K	2026-06-30
Vanguard Capital Management LLC	38.77M	$10.55B	6.53%	+217.0K	2026-06-30
State Street Corp	27.89M	$7.59B	4.70%	+1.30M	2026-06-30
Capital World Investors	27.14M	$7.38B	4.57%	+69.4K	2026-06-30
Capital Research Global Investors	17.11M	$4.65B	2.88%	+206.0K	2026-06-30
Geode Capital Management, LLC	16.12M	$4.38B	2.71%	+260.1K	2026-06-30
JPMorgan Chase & Co	15.67M	$4.27B	2.64%	+4.22M	2026-06-30
Morgan Stanley	14.58M	$3.96B	2.45%	-305.7K	2026-06-30
Bank of America Corp	14.53M	$3.95B	2.45%	+64.5K	2026-06-30
Vanguard Portfolio Management LLC	14.28M	$3.88B	2.40%	-162.8K	2026-06-30