Buyback yield (TTM)
1.24%
Shareholder yield (TTM)
3.51%
5Y share count change
-12.6%
Buyback spend (TTM)
$1.79B
Cumulative buybacks
$60.41B
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.
Dividend & buyback yield over time for Union Pacific (UNP)
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.
Diluted vs basic shares (annual) for Union Pacific (UNP)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Union Pacific (UNP)
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.
Cash buyback spend over time for Union Pacific (UNP)
Latest: $2.68B
Overview
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 $0.00 recorded in 1991.
Union Pacific Buyback Spend 2025: $2.68B
2025's buyback spend for Union Pacific came in at $2.68B, surged 78.0% from 2024.
Union Pacific Buyback Spend 2024: $1.50B
Union Pacific posted buyback spend of $1.50B in 2024, surged 113.5% from 2023.
Union Pacific Buyback Spend 2023: $705.00M
In 2023, Union Pacific reported buyback spend of $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).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $2.68B | $0.00 | $2.68B | 1.95% | 0.59B | -2.5% | |
| 2024 | $1.50B | $0.00 | $1.50B | 1.09% | 0.61B | -0.3% | |
| 2023 | $705.00M | $0.00 | $705.00M | 0.47% | 0.61B | -2.2% | |
| 2022 | $6.28B | $99.00M | $6.18B | 4.95% | 0.62B | -4.8% | |
| 2021 | $7.29B | $88.00M | $7.20B | 4.52% | 0.66B | -3.5% | |
| 2020 | $3.71B | $73.00M | $3.63B | 2.65% | 0.68B | -3.8% | |
| 2019 | $5.80B | $93.00M | $5.71B | 4.64% | 0.71B | -6.4% | |
| 2018 | $8.22B | $96.00M | $8.13B | 8.16% | 0.75B | -5.9% | |
| 2017 | $4.01B | $103.00M | $3.91B | 3.82% | 0.80B | -4.0% | |
| 2016 | $3.10B | $82.00M | $3.02B | 3.66% | 0.84B | -3.9% | |
| 2015 | $3.46B | $98.00M | $3.37B | 5.21% | 0.87B | -3.5% | |
| 2014 | $3.23B | $112.00M | $3.11B | 3.06% | 0.90B | -3.3% | |
| 2013 | $2.22B | $98.00M | $2.12B | 2.88% | 0.93B | -2.2% | |
| 2012 | $1.47B | $93.00M | $1.38B | 2.50% | 0.95B | -2.7% | |
| 2011 | $1.42B | $0.00 | $1.42B | 2.80% | 0.98B | -2.6% | |
| 2010 | $1.25B | $0.00 | $1.25B | 2.75% | 1.01B | -0.6% | |
| 2009 | $0.00 | $0.00 | $0.00 | — | 1.01B | -1.8% | |
| 2008 | $1.61B | $65.00M | $1.54B | 6.70% | 1.03B | -4.1% | |
| 2007 | $1.38B | $44.00M | $1.33B | 4.22% | 1.07B | -1.3% | |
| 2006 | $17.00M | $35.00M | −$18.00M | 0.07% | 1.09B | +2.0% | |
| 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 | — | — | — |
- 2025$2.68B
- 2024$1.50B
- 2023$705.00M
- 2022$6.28B
- 2021$7.29B
- 2020$3.71B
- 2019$5.80B
- 2018$8.22B
- 2017$4.01B
- 2016$3.10B
- 2015$3.46B
- 2014$3.23B
- 2013$2.22B
- 2012$1.47B
- 2011$1.42B
- 2010$1.25B
- 2009$0.00
- 2008$1.61B
- 2007$1.38B
- 2006$17.00M
- 2005$0.00
- 2004$0.00
- 2003$0.00
- 2002$0.00
- 2001$0.00
- 2000$0.00
- 1999$0.00
- 1998$0.00
- 1997$0.00
- 1996$0.00
- 1995$0.00
- 1994$1.00M
- 1993$10.00M
- 1992$5.00M
- 1991$0.00
- 1990$62.00M
- 1989$972.00M
Buybacks vs stock-based compensation for Union Pacific (UNP)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: N/A.
Buybacks vs dividends (share of cash returned) for Union Pacific (UNP)
How Union Pacific splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Union Pacific, ranked by their latest buyback spend.
| $7.55B | |
| $5.19B | |
| $3.80B | |
| $1.86B | |
| $1.14B | |
| $1.13B | |
| $50.00M | |
| $0.00 |
- $7.55B
- $5.19B
- $1.86B
- $1.14B
- $1.13B
- $50.00M
- $0.00
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).
Frequently asked questions
Data & methodology
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