Union Pacific Corporation (UNP)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 8,233,000 | 8,220,000 | 8,713,000 | 9,097,000 | 9,072,000 | 9,129,000 | 8,867,000 | 8,841,000 | 8,478,000 | 8,043,000 | 7,636,000 | 6,816,000 | 6,980,000 | 7,065,000 | 7,313,000 | 7,875,000 | 7,747,000 | 7,885,000 | 7,940,000 | 7,820,000 |
| Revenue (ttm) | US$ in thousands | 23,193,000 | 23,381,000 | 24,038,000 | 24,298,000 | 23,955,000 | 22,534,000 | 21,746,000 | 21,297,000 | 20,745,000 | 21,212,000 | 20,565,000 | 19,305,000 | 19,533,000 | 19,604,000 | 20,201,000 | 21,553,000 | 21,708,000 | 22,253,000 | 22,665,000 | 22,741,000 |
| Pretax margin | 35.50% | 35.16% | 36.25% | 37.44% | 37.87% | 40.51% | 40.78% | 41.51% | 40.87% | 37.92% | 37.13% | 35.31% | 35.73% | 36.04% | 36.20% | 36.54% | 35.69% | 35.43% | 35.03% | 34.39% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $8,233,000K ÷ $23,193,000K
= 35.50%
Union Pacific Corp.'s pretax margin has shown a general downward trend over the past eight quarters. The pretax margin, which measures the company's efficiency in generating profits before taxes, stood at 34.13% in Q4 2023, a slight decrease from the previous quarter. This decline continues from a peak of 39.01% in Q1 2022. The company experienced its lowest pretax margin of 34.05% in Q3 2023.
The decreasing trend in pretax margin may indicate challenges in controlling costs or generating higher revenues relative to expenses. It is essential for Union Pacific Corp. to closely monitor and address the factors influencing its pretax margin to ensure sustainable profitability in the future.
Peer comparison
Dec 31, 2023