Union Pacific (UNP) Stock Buyback History
TTM buyback yield 1.24% · Shareholder yield (TTM) 1.24%.
TTM buyback yield
1.24%
Shareholder yield (TTM)
1.24%
5Y share count change
-12.6%
TTM buyback spend
$1.79B
SBC coverage (TTM)
N/A
YoY change in spend
+78.0%
5Y CAGR of spend
-6.3%
Peak year (2018)
$8.22B
Cumulative spend
$60.41B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Union Pacific (UNP) repurchased about $1.79B of stock over the trailing twelve months.
- Diluted share count is down 12.6% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- Cash buyback spend has compounded at -6.3% per year over the latest 5-year window.
- TTM repurchases used about 73% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $2.68B | $0.00 | $2.68B | 0.59B | -2.5% | 1.95% |
| 2024 | $1.50B | $0.00 | $1.50B | 0.61B | -0.3% | 1.09% |
| 2023 | $705.00M | $0.00 | $705.00M | 0.61B | -2.2% | 0.47% |
| 2022 | $6.28B | $99.00M | $6.18B | 0.62B | -4.8% | 4.95% |
| 2021 | $7.29B | $88.00M | $7.20B | 0.66B | -3.5% | 4.52% |
| 2020 | $3.71B | $73.00M | $3.63B | 0.68B | -3.8% | 2.65% |
| 2019 | $5.80B | $93.00M | $5.71B | 0.71B | -6.4% | 4.64% |
| 2018 | $8.22B | $96.00M | $8.13B | 0.75B | -5.9% | 8.16% |
| 2017 | $4.01B | $103.00M | $3.91B | 0.80B | -4.0% | 3.82% |
| 2016 | $3.10B | $82.00M | $3.02B | 0.84B | -3.9% | 3.66% |
| 2015 | $3.46B | $98.00M | $3.37B | 0.87B | -3.5% | 5.21% |
| 2014 | $3.23B | $112.00M | $3.11B | 0.90B | -3.3% | 3.06% |
| 2013 | $2.22B | $98.00M | $2.12B | 0.93B | -2.2% | 2.88% |
| 2012 | $1.47B | $93.00M | $1.38B | 0.95B | -2.7% | 2.50% |
| 2011 | $1.42B | $0.00 | $1.42B | 0.98B | -2.6% | 2.80% |
| 2010 | $1.25B | $0.00 | $1.25B | 1.01B | -0.6% | 2.75% |
| 2009 | $0.00 | $0.00 | $0.00 | 1.01B | -1.8% | — |
| 2008 | $1.61B | $65.00M | $1.54B | 1.03B | -4.1% | 6.70% |
| 2007 | $1.38B | $44.00M | $1.33B | 1.07B | -1.3% | 4.22% |
| 2006 | $17.00M | $35.00M | −$18.00M | 1.09B | 2.0% | 0.07% |
| 2005 | $0.00 | $21.00M | −$21.00M | 1.07B | 1.6% | — |
| 2004 | $0.00 | $21.00M | −$21.00M | 1.05B | -2.2% | — |
| 2003 | $0.00 | $0.00 | $0.00 | 1.07B | -3.2% | — |
| 2002 | $0.00 | $0.00 | $0.00 | 1.11B | 1.8% | — |
| 2001 | $0.00 | $0.00 | $0.00 | 1.09B | 0.9% | — |
| 2000 | $0.00 | $0.00 | $0.00 | 1.08B | -0.1% | — |
| 1999 | $0.00 | $0.00 | $0.00 | 1.08B | 9.7% | — |
| 1998 | $0.00 | $0.00 | $0.00 | 0.98B | -0.8% | — |
| 1997 | $0.00 | $0.00 | $0.00 | 0.99B | 13.8% | — |
| 1996 | $0.00 | $0.00 | $0.00 | 0.87B | — | — |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1994 | $1.00M | $0.00 | $1.00M | — | — | — |
| 1993 | $10.00M | $0.00 | $10.00M | — | — | — |
| 1992 | $5.00M | $0.00 | $5.00M | — | — | — |
| 1991 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1990 | $62.00M | $0.00 | $62.00M | — | — | — |
| 1989 | $972.00M | $0.00 | $972.00M | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Union Pacific (UNP) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Union Pacific (UNP)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Union Pacific (UNP)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $2.68B | +78.0% | +$1.17B | ||
| 2024 | $1.50B | +113.5% | +$800.00M | ||
| 2023 | $705.00M | -88.8% | -$5.58B | ||
| 2022 | $6.28B | -13.8% | -$1.01B | ||
| 2021 | $7.29B | +96.8% | +$3.59B | ||
| 2020 | $3.71B | -36.2% | -$2.10B | ||
| 2019 | $5.80B | -29.4% | -$2.42B | ||
| 2018 | $8.22B | +105.0% | +$4.21B | ||
| 2017 | $4.01B | +29.2% | +$908.00M | ||
| 2016 | $3.10B | -10.4% | -$360.00M | ||
| 2015 | $3.46B | +7.4% | +$240.00M | ||
| 2014 | $3.23B | +45.4% | +$1.01B | ||
| 2013 | $2.22B | +50.5% | +$744.00M | ||
| 2012 | $1.47B | +3.9% | +$56.00M | ||
| 2011 | $1.42B | +13.5% | +$169.00M | ||
| 2010 | $1.25B | — | +$1.25B | ||
| 2009 | $0 | -100.0% | -$1.61B | ||
| 2008 | $1.61B | +17.0% | +$234.00M | ||
| 2007 | $1.38B | +7988.2% | +$1.36B | ||
| 2006 | $17.00M | — | +$17.00M | ||
| 2005 | $0 | — | $0 | ||
| 2004 | $0 | — | $0 | ||
| 2003 | $0 | — | $0 | ||
| 2002 | $0 | — | $0 | ||
| 2001 | $0 | — | $0 | ||
| 2000 | $0 | — | $0 | ||
| 1999 | $0 | — | $0 | ||
| 1998 | $0 | — | $0 | ||
| 1997 | $0 | — | $0 | ||
| 1996 | $0 | — | $0 | ||
| 1995 | $0 | -100.0% | -$1.00M | ||
| 1994 | $1.00M | -90.0% | -$9.00M | ||
| 1993 | $10.00M | +100.0% | +$5.00M | ||
| 1992 | $5.00M | — | +$5.00M | ||
| 1991 | $0 | -100.0% | -$62.00M | ||
| 1990 | $62.00M | -93.6% | -$910.00M | ||
| 1989 | $972.00M | — | — |
2025's annual buyback spend for Union Pacific (UNP) came in at $2.68B – surged 78.0% year-over-year.
Across 2020–2025 (5 years), Union Pacific buyback spend produced a CAGR of -6.3% – sustaining 2 straight years of year-over-year growth.
Between 2018 and 2025, Union Pacific buyback spend plunged 67.4%, falling from $8.22B to $2.68B.
2018 marks the peak buyback spend at $8.22B, with the historical low of $0 recorded in 1991.
Within Industrials, Union Pacific (UNP) ranks 4th among 8 peers we track. The peer median for buyback spend is $1.50B.
Union Pacific Buyback Spend 2025: $2.68B
Union Pacific buyback spend in 2025 was $2.68B, surged 78.0% from 2024.
Union Pacific Buyback Spend 2024: $1.50B
Union Pacific buyback spend in 2024 was $1.50B, surged 113.5% from 2023.
Union Pacific Buyback Spend 2023: $705.00M
Union Pacific buyback spend in 2023 was $705.00M, plunged 88.8% below 2022.
Union Pacific Buyback Spend 2022: $6.28B
Union Pacific buyback spend in 2022 was $6.28B, declined 13.8% below 2021.
Union Pacific Buyback Spend 2021: $7.29B
Union Pacific buyback spend in 2021 was $7.29B.
See more financial history for Union Pacific (UNP).
Sector peers by buyback spend
Companies in the same sector as Union Pacific, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| GE Aerospace (GE) | $7.55B | Industrials |
| Caterpillar (CAT) | $5.19B | Industrials |
| Honeywell International (HON) | $3.80B | Industrials |
| Eaton Corporation (ETN) | $1.86B | Industrials |
| Deere & Company (DE) | $1.14B | Industrials |
| RTX (RTX) | $50.00M | Industrials |
| Boeing (BA) | $0 | Industrials |
| Vertiv Holdings (VRT) | $0 | Industrials |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: N/A.
Capital allocation mix
How Union Pacific splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $2.44B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Union Pacific's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Union Pacific buy back its own stock?
Yes, Union Pacific (UNP) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Union Pacific spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $1.79B (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Union Pacific's buyback yield?
TTM buyback yield is about 1.24% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Union Pacific's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 1.24% combined (TTM-based where available).
Is Union Pacific diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Union Pacific's share count changed?
Diluted weighted average shares changed by about -12.6% over roughly five fiscal years (annual income statement data).
What is Union Pacific's buyback spend?
Latest reported buyback spend for Union Pacific (UNP) is $1.79B (period ending March 31, 2026).
How has Union Pacific buyback spend changed year-over-year?
Union Pacific (UNP) buyback spend changed +78.0% year-over-year on the latest annual filing.
What is the long-term growth rate of Union Pacific buyback spend?
Union Pacific (UNP) buyback spend compound annual growth rate is -6.3% over the most recent 5 years available.
When did Union Pacific buyback spend hit its highest annual value?
Union Pacific buyback spend reached its highest annual value of $8.22B in 2018.
What was Union Pacific buyback spend in 2024?
Union Pacific (UNP) buyback spend in 2024 was $1.50B.
What was Union Pacific buyback spend in 2025?
Union Pacific (UNP) buyback spend in 2025 was $2.68B.
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