Union Pacific Corporation (UNP): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe de Union Pacific Corporation (UNP), un titan de transport qui transforme le paysage de la logistique de fret à travers l'ouest des États-Unis. Cette centrale ferroviaire dynamique orchestre une symphonie complexe des services de transport, tirant parti d'un vaste réseau qui relie les industries, déplace des ressources critiques et stimule l'efficacité économique. En mélangeant magistralement la technologie de pointe, des partenariats stratégiques et des solutions logistiques complètes, Union Pacific a conçu un modèle commercial robuste qui va bien au-delà du transport ferroviaire traditionnel, créant une valeur pour divers segments de clients et parties prenantes.

Union Pacific Corporation (UNP) - Modèle d'entreprise: partenariats clés

Principales sociétés de transport de fret et de logistique

Union Pacific maintient des partenariats stratégiques avec plusieurs entités de logistique et de transport clés:

Entreprise partenaire	Type de partenariat	Valeur de collaboration annuelle
BNSF Railway	Échange de fret interline	375 millions de dollars
Kansas City Southern	Transport transfrontalier	250 millions de dollars
J.B. Hunt Transport Services	Logistique intermodale	500 millions de dollars

Fabricants d'équipements de chemin de fer

Union Pacific collabore avec les principaux fabricants d'équipements:

• Transport électrique général
• Wabtec Corporation
• Caterpillar Inc.

Fabricant	Type d'équipement	Valeur d'achat annuelle
Transport électrique général	Locomotives	425 millions de dollars
Wabtec Corporation	Composants ferroviaires	185 millions de dollars

Technologies et fournisseurs de logiciels

Union Pacific investit dans des partenariats technologiques avancés:

• Systèmes Cisco
• Microsoft Corporation
• Ibm

Partenaire technologique	Focus technologique	Investissement annuel
Systèmes Cisco	Infrastructure réseau	75 millions de dollars
Microsoft Corporation	Cloud computing	65 millions de dollars

Partners de la chaîne d'approvisionnement agricole et industrielle

Collaborations agricoles et industrielles clés:

• Cargill Inc.
• Archer Daniels Midland Company
• Dow Chemical Company

Partenaire	Secteur de l'industrie	Volume de transport annuel
Cargill Inc.	Marchandises agricoles	12,5 millions de tonnes
Archer Daniels Midland	Transformation des aliments	9,3 millions de tonnes

Agences de réglementation des transports gouvernementaux

Partenaires de conformité et de collaboration réglementaires:

• Administration du chemin de fer fédéral
• Panneau de transport de surface
• Ministère des Transports

Agence	Concentration réglementaire	Investissement de conformité
Administration du chemin de fer fédéral	Règlements sur la sécurité	45 millions de dollars
Panneau de transport de surface	Surveillance du marché	22 millions de dollars

Union Pacific Corporation (UNP) - Modèle d'entreprise: activités clés

Services de transport de fret long-courrier

Union Pacific exploite un Réseau ferroviaire de 32 075 milles Dans 23 États dans les deux tiers occidentaux des États-Unis. En 2022, l'entreprise a transporté:

Catégorie de fret	Volume (en mille wagons)
Produits agricoles	2,342
Automobile	1,167
Chimique	2,033
Charbon	1,890
Produits industriels	2,456
Intermodal	3,412

Maintenance et optimisation du réseau ferroviaire

L'investissement annuel sur les infrastructures en 2022 a atteint 2,9 milliards de dollars, avec des domaines de mise au point clés, notamment:

• Suivre le renouvellement des infrastructures
• Armature du pont
• Mises à niveau du système de signal
• Améliorations de cour et de terminaux

Gestion de la logistique et de la chaîne d'approvisionnement

Union Pacific gère un réseau logistique complexe avec:

• 7 600 locomotives en service actif
• 54 400 voitures de fret
• Capacités de gestion des conteneurs intermodales
• Technologies de routage et de suivi avancés

Investissement roulant et infrastructure

Répartition des dépenses en capital pour 2022:

Catégorie d'investissement	Montant (millions de dollars)
Infrastructure de piste	1,650
Acquisition de locomotive	550
Remplacement de la voiture de marchandise	400
Systèmes technologiques	300

Améliorations de la sécurité et de l'efficacité opérationnelle

Mesures de sécurité pour 2022:

• Taux d'accident de train: 1,75 par million de kilomètres de train
• Mise en œuvre des technologies de maintenance prédictive avancées
• Programmes de formation en sécurité des employés continus
• Systèmes de surveillance des performances en temps réel

Union Pacific Corporation (UNP) - Modèle d'entreprise: Ressources clés

Réseau ferroviaire étendu

Union Pacific exploite environ 32 100 milles de route dans 23 États dans les deux tiers occidentaux des États-Unis. Le réseau couvre les couloirs de transport critiques reliant les principales zones métropolitaines et les régions économiques clés.

Métrique du réseau	Quantité
Total des miles de route	32,100
États couverts	23
Propriété de piste	Infrastructure principalement possédée

Flotte diversifiée du transport de fret

Union Pacific maintient une flotte substantielle de locomotive et de wagons pour le transport efficace du fret.

Composant de flotte	Quantité
Locomotives	8,300
Voitures de marchandise	47,800

Technologie avancée de suivi et de logistique

• Technologie du chemin de fer programmé de précision (PSR)
• Systèmes de suivi d'expédition en temps réel
• Plates-formes de maintenance prédictive avancées
• Outils d'optimisation logistique alimentés par l'IA

Main-d'œuvre qualifiée

Union Pacific emploie environ 38 000 travailleurs dans divers rôles opérationnels.

Catégorie de main-d'œuvre	Nombre d'employés
Total des employés	38,000
Mandat moyen des employés	15 ans

Infrastructure ferroviaire stratégique

Union Pacific possède des actifs fonciers et infrastructures importants essentiels à ses opérations.

Actif d'infrastructure	Valeur / quantité
Total foncier	Environ 31 700 miles
Installations intermodales	23 installations majeures
Chantiers d'entretien	17 installations d'entretien primaires

Union Pacific Corporation (UNP) - Modèle d'entreprise: propositions de valeur

Transport de fret à longue distance efficace et fiable

Union Pacific exploite 32 313 milles de route à travers 23 États dans les deux tiers occidentaux des États-Unis. En 2022, la société a transporté 2,1 millions de carats de fret, couvrant environ 461 milliards de revenus de revenus.

Métrique	2022 Performance
Total des miles de route	32,313
Total des cargaisons	2,1 millions
Revenue Ton-Miles	461 milliards

Solutions d'expédition rentables pour plusieurs industries

Union Pacific sert diverses industries avec des solutions d'expédition ciblées:

• Produits agricoles: 34% des revenus totaux
• Produits industriels: 26% des revenus totaux
• Automobile: 12% des revenus totaux
• Chemical: 11% des revenus totaux
• Intermodal: 17% des revenus totaux

Alternative de transport environnemental durable

Performance environnementale	2022 données
Efficacité énergétique (tonnes-miles par gallon)	470
Réduction des gaz à effet de serre	19,2 millions de tonnes métriques

Services de logistique et de chaîne d'approvisionnement intégrés

Union Pacific propose des solutions logistiques complètes avec 6,6 milliards de dollars investis dans les améliorations des infrastructures et des réseaux en 2022.

Performance de livraison cohérente et prévisible

Métrique de performance	Résultat 2022
Taux de livraison à temps	95.2%
Vitesse moyenne du train	25,4 miles par heure

Union Pacific Corporation (UNP) - Modèle d'entreprise: relations clients

Accords contractuels à long terme avec des expéditeurs majeurs

Union Pacific maintient des contrats stratégiques à long terme avec des clients industriels clés. En 2023, la société a déclaré environ 10 000 contrats d'expédition actifs dans plusieurs secteurs.

Secteur de l'industrie	Nombre de contrats	Revenus annuels estimés
Agriculture	3,200	2,4 milliards de dollars
Automobile	1,500	1,8 milliard de dollars
Chimique	2,300	2,1 milliards de dollars
Énergie	1,700	1,6 milliard de dollars

Service client dédié et gestion des comptes

Union Pacific exploite une infrastructure complète de support client avec 450 gestionnaires de comptes dédiés au service des principaux clients.

• Centres de support client 24/7
• Équipes de compte spécifiques de l'industrie spécialisées
• Canaux de communication directes avec la haute direction

Plateformes de suivi et de communication numériques

La plate-forme numérique de la société gère environ 2,5 millions de demandes de suivi des expéditions par mois, avec un taux de précision d'informations en temps réel de 99,2%.

Métrique de la plate-forme numérique	Performance
Demandes de suivi mensuel	2,5 millions
Time de disponibilité de la plate-forme	99.8%
Utilisateurs d'applications mobiles	185,000

Solutions de transport personnalisées

Union Pacific fournit des solutions logistiques sur mesure pour 87% de ses 500 principaux clients d'entreprise, avec une personnalisation couvrant l'optimisation des itinéraires, l'équipement spécialisé et les services de chaîne d'approvisionnement intégrés.

Mécanismes de rétroaction d'amélioration opérationnelle continue

La société mène des enquêtes trimestrielles sur la satisfaction des clients avec un taux de réponse de 62% et met en œuvre environ 178 améliorations suscitées par le client chaque année.

Mécanisme de rétroaction	Performance annuelle
Enquêtes clients menées	4
Taux de réponse au sondage	62%
Améliorations mises en œuvre	178

Union Pacific Corporation (UNP) - Modèle d'entreprise: canaux

Équipe de vente directe

Union Pacific maintient une force de vente dédiée de 1 850 représentants commerciaux à partir de 2023. L'équipe gère les relations avec les clients sur plusieurs segments de l'industrie, notamment:

• Agriculture
• Automobile
• Chimique
• Charbon
• Produits industriels

Plateforme d'expédition et de logistique en ligne

Métrique de la plate-forme	2023 données
Volume de transaction numérique	42,3 milliards de dollars
Réservations d'expédition en ligne	87% du fret total
Utilisateurs de plate-forme	4 200 clients d'entreprise

Salons et conférences de l'industrie

Union Pacific participe à environ 35 conférences de l'industrie par an, ciblant les dirigeants de la logistique, des transports et de la chaîne d'approvisionnement.

Portails de clients numériques

Caractéristique du portail	Capacité
Suivi d'expédition en temps réel	Précision à 99,6%
Utilisateurs du portail client	2 800 comptes d'entreprise enregistrés
Interactions numériques annuelles	1,2 million

Réseaux de courtage de fret

Union Pacific collabore avec 1 200 prestataires de logistiques tiers et courtiers de fret, représentant 22% du volume total de fret en 2023.

Union Pacific Corporation (UNP) - Modèle d'entreprise: segments de clientèle

Producteurs et distributeurs agricoles

L'Union Pacifique a transporté 230 000 wagon de produits agricoles en 2022. Les principaux produits agricoles comprennent:

• Grain: 154 000 wagons
• Engrais: 42 000 cargaisons
• Produits alimentaires: 34 000 wagons

Revenus du segment agricole	Valeur 2022
Revenus agricoles totaux	5,8 milliards de dollars
Transport de céréales	3,2 milliards de dollars
Transport engrais	1,1 milliard de dollars

Entreprises manufacturières

Union Pacific a servi 10 500 clients manufacturiers en 2022.

• Pièces automobiles: 45 000 wagons
• Matériaux industriels: 89 000 wagons
• Produits chimiques: 72 000 wagons

Revenus de segment de fabrication	Valeur 2022
Transport total de fabrication	6,3 milliards de dollars
Segment automobile	1,7 milliard de dollars
Matériaux industriels	2,9 milliards de dollars

Industrie automobile

Union Pacific a transporté 45 000 carats de voitures liés à l'automobile en 2022.

• Véhicules finis: 22 000 wagons
• Pièces automobiles: 23 000 wagons

Secteur de l'énergie et des ressources naturelles

Union Pacific a transporté 220 000 wagons d'énergie en 2022.

Répartition des segments d'énergie	2022 CARINDS	Revenu
Charbon	130,000	3,6 milliards de dollars
Huile brute	35,000	1,2 milliard de dollars
Matériaux d'énergie renouvelable	55,000	1,5 milliard de dollars

Sociétés de vente au détail et de biens de consommation

Union Pacific a transporté 65 000 carats de voitures liés aux biens de consommation en 2022.

Segment de biens de consommation	2022 CARINDS	Revenu
Produits de consommation emballés	38,000	2,1 milliards de dollars
Conteneurs intermodaux	27,000	1,8 milliard de dollars

Union Pacific Corporation (UNP) - Modèle d'entreprise: Structure des coûts

Frais de maintenance en carburant et en locomotive

En 2023, Union Pacific a dépensé 1,76 milliard de dollars pour les dépenses de carburant diesel. Les coûts de maintenance des locomotifs étaient d'environ 412 millions de dollars pour le même exercice.

Catégorie de dépenses	Montant (2023)
Frais de carburant diesel	1,76 milliard de dollars
Entretien de locomotif	412 millions de dollars

Condemnisation de la main-d'œuvre et de la main-d'œuvre

Les dépenses totales de main-d'œuvre d'Union Pacific en 2023 étaient de 6,3 milliards de dollars, couvrant:

• Salaire d'environ 38 200 employés
• Packages d'avantages sociaux et de rémunération
• Programmes de formation et de développement

Infrastructure et maintenance du réseau

Les dépenses en capital pour la maintenance des infrastructures en 2023 ont totalisé 2,9 milliards de dollars, notamment les mises à niveau des voies, les réparations de ponts et l'expansion du réseau.

Catégorie d'investissement dans l'infrastructure	Montant (2023)
Entretien des voies	1,2 milliard de dollars
Réparations de pont et de tunnel	510 millions de dollars
Expansion du réseau	1,19 milliard de dollars

Investissements technologiques et plate-forme numérique

Union Pacific a investi 287 millions de dollars dans la technologie et les infrastructures numériques en 2023, en se concentrant sur:

• Systèmes de suivi automatisés
• Technologies de maintenance prédictive
• Améliorations de la cybersécurité

Programmes de conformité et de sécurité réglementaires

Les dépenses de sécurité et de conformité ont atteint 425 millions de dollars en 2023, couvrant:

• Programmes de formation à la sécurité
• Surveillance de la conformité réglementaire
• Mises à niveau de la sécurité des équipements

Catégorie de dépenses de conformité	Montant (2023)
Formation à la sécurité	158 millions de dollars
Surveillance réglementaire	112 millions de dollars
Mises à niveau des équipements de sécurité	155 millions de dollars

Union Pacific Corporation (UNP) - Modèle d'entreprise: Strots de revenus

Services de transport de fret

Union Pacific Corporation a généré 6,57 milliards de dollars de revenus de fret au quatrième trimestre 2023. Les principaux segments de fret de la société comprennent:

Segment de fret	Revenus (2023)
Produits agricoles	1,42 milliard de dollars
Produits industriels	1,89 milliard de dollars
Prime	1,65 milliard de dollars
Charbon	1,21 milliard de dollars

Solutions d'expédition intermodales

Les revenus d'expédition intermodaux pour Union Pacific en 2023 étaient de 5,23 milliards de dollars, ce qui représente 22,7% du total des revenus de l'entreprise.

• Revenus de transport de conteneurs: 3,14 milliards de dollars
• Revenus d'expédition de remorque: 2,09 milliards de dollars

Frais de gestion de la logistique et de la chaîne d'approvisionnement

Les frais de service logistique en 2023 ont totalisé 612 millions de dollars, avec des offres de services clés, notamment:

• Services de consolidation de fret
• Gestion de l'entreposage
• Optimisation du transport

Location et location d'équipement

Les revenus de location et de location d'équipement pour 2023 étaient de 287 millions de dollars, en panne comme suit:

Type d'équipement	Revenus de location
Locomotif	193 millions de dollars
Location de wagons	94 millions de dollars

Services de transport à valeur ajoutée

Des services supplémentaires à valeur ajoutée ont généré 426 millions de dollars de revenus au cours de 2023, notamment:

• Services de suivi et de surveillance
• Manipulation spécialisée de la cargaison
• Solutions logistiques personnalisées

Union Pacific Corporation (UNP) - Canvas Business Model: Value Propositions

You're looking at the core promises Union Pacific Corporation makes to its customers as of late 2025. These aren't just nice-to-haves; they are the hard numbers backing up why shippers choose rail over other options, especially as the Norfolk Southern merger moves through regulatory channels.

Environmental Leadership and Efficiency

For long-haul movements, rail remains the most fuel-efficient, sustainable mode available. Rail transport lowers greenhouse gas (GHG) emissions by up to 75% compared to trucks. Union Pacific is actively investing to push this advantage further. The company is fostering the U.S. biofuel market, aiming for 5-7% utilization of biofuels in its locomotives during 2025. Also, the fleet modernization program is set to upgrade another 240 locomotives during 2025 and 2026 to boost reliability and fuel efficiency.

Service Reliability and Velocity

Service consistency is a major focus, and the operational data from the third quarter of 2025 shows real progress. We've seen improvements in how fast cars move across the network, which directly translates to lower inventory costs for you. Honestly, these numbers show the team is executing on service excellence.

Here's a quick look at the key operational metrics from Q3 2025:

Metric	Value	Context/Comparison
Freight Car Velocity (Q3 2025)	226 daily miles per car	An 8% improvement year-over-year
Average Terminal Dwell (Q3 2025)	20.4 hours	A 9% improvement year-over-year
Locomotive Productivity (Q3 2025)	140 gross ton-miles (GTMs) per horsepower day	A 4% improvement year-over-year
Workforce Productivity (Q3 2025)	1,165 car miles per employee	A 6% improvement year-over-year
Average Train Length (Q3 2025)	9,801 feet	A 2% increase

The company also reported a record monthly performance in September 2025, exceeding 230 miles per day.

Cost Advantage Over Trucking

For bulk and industrial shipments, rail offers a significant cost advantage over over-the-road trucking, which was mired in a freight recession in Q2 2025. Union Pacific's efficiency, measured by the operating ratio (OR), demonstrates this cost control. The reported Q3 2025 Operating Ratio was 59.2%, with an adjusted OR of 58.5%, an improvement of 180 basis points from the prior year. Furthermore, Union Pacific led the industry in Return on Invested Capital (ROIC) for Q2 2025 at 14.3%.

Strategic Network Expansion

The proposed merger with Norfolk Southern Corporation presents the potential for a truly transformative value proposition: single-line service across a transcontinental network. This move, if approved by regulators, would create "America's first transcontinental railroad," linking ports from the Atlantic to the Pacific. To focus capital on this regulatory process, Union Pacific paused share repurchases, though it did proceed with a 3% quarterly dividend increase.

Digital Visibility and Management

You get real-time visibility and simplified management through significant technology investments. This focus on a customer-centric digital experience is key to making those long-haul shipments feel as manageable as shorter ones. If onboarding takes 14+ days, churn risk rises, so speed here matters.

Key digital tools and adoption rates as of late 2025 include:

• The launch of the redesigned customer portal, My Portal, which organizes tools into Plan, Ship, and Pay categories.
• The updated portal was available for Manifest and Bulk customers in August 2025, with rollout to Intermodal and Auto customers expected in November 2025.
• 65 available Application Programming Interfaces (APIs) for functions like shipment tracking and invoices.
• Approximately 90% of the container fleet has GPS installed for end-to-end visibility.
• 100 customers are actively using the APIs, out of more than 300 that have signed up.
• A plan to equip 1,500 railcars with RailPulse technology by year-end 2025 for real-time load status.

Finance: draft 13-week cash view by Friday.

Union Pacific Corporation (UNP) - Canvas Business Model: Customer Relationships

You're looking at how Union Pacific Corporation (UNP) manages its relationships with the shippers who rely on its network, which is critical since service performance directly impacts their bottom line. Honestly, for a railroad this size, it's a mix of high-touch personal service and scalable digital self-service.

Dedicated account management for large, contract-based shippers.

For your biggest customers, UNP assigns dedicated account managers. This isn't just a sales role; it's about deep integration into their supply chain planning. While specific contract values aren't public, we know these relationships drive significant, stable volume. For instance, the Bulk segment, which includes grain and coal, generated 32% of freight revenues in 2024. Furthermore, UNP is actively working to secure volume, such as expecting to partially offset the long-term coal revenue decline in 2025 under a new contract with the electric utility Lower Colorado River Authority of Texas.

Self-service digital tools via the My Portal for tracking and billing.

The move toward digital self-service is clear with the rollout of the redesigned customer portal, My Portal. As of late 2025, this portal is available for Manifest and Bulk customers, with the rollout planned for Intermodal and Auto customers in November 2025. This tool groups critical functions into three intuitive categories: Plan, Ship, and Pay, helping customers do business more efficiently.

Long-term, high-volume contracts with major industrial customers.

The Industrial segment is responsible for the largest portion of revenues, bringing in $6.488 billion year-to-date (YTD). These relationships are often cemented through long-term agreements. The focus is on securing core pricing gains, which were accretive to the operating ratio in Q3 2025. Year-to-date intermodal volumes were up 4% as of the latest reports, driven by strong domestic growth.

Proactive communication on service exceptions and network fluidity.

The commitment to better communication is evident in the service metrics that track fluidity. For example, Manifest Service Performance Index (SPI) reached a record 98% in December 2024, and Intermodal SPI ended that month at 97%. These indices measure performance against a historical benchmark, showing a focus on continuous improvement for customers. For Q2 2025, freight car velocity improved 10% to 221 daily miles per car. The company is also using advanced analytics, with plans to expose exception closure times to customers.

Customer-centric service improvements driving the 58.5% adjusted operating ratio.

Service improvements are directly tied to financial performance. Union Pacific Corporation achieved an adjusted operating ratio of 58.5% in the third quarter of 2025, an improvement of 180 basis points year-over-year. This focus on operational excellence is what drives that number down. Here's a look at some of the key operational metrics supporting this efficiency as of mid-to-late 2025:

Metric	Q2 2025 Value	Year-over-Year Change
Adjusted Operating Ratio	58.1%	Improved by 230 basis points
Freight Car Velocity	221 daily miles per car	10% improvement
Average Maximum Train Length	9,689 feet	2% increase
Workforce Productivity	1,124 car miles per employee	Improved 9%

These operational gains help Union Pacific Corporation meet its commitment to leading the industry in service, as stated by the Chief Executive Officer in July 2025.

You should definitely review the rollout schedule for My Portal for your specific segment to ensure you're ready to use the new self-service features by November 2025. Finance: draft 13-week cash view by Friday.

Union Pacific Corporation (UNP) - Canvas Business Model: Channels

You're looking at how Union Pacific Corporation (UNP) gets its value proposition-safe, reliable, efficient rail service-into the hands of its customers as of late 2025. The channels are a mix of heavy physical assets and increasingly sophisticated digital tools.

Physical rail network: direct rail access to customer facilities and ports.

The core channel remains the physical track. Union Pacific Corporation operates across 23 western states. This extensive footprint allows for direct rail access to many major industrial centers and key Pacific ports. Operational efficiency, a key driver of the adjusted operating ratio of 58.5% in the third quarter of 2025, directly impacts the reliability of this physical channel.

Key operational metrics showing the throughput of this physical channel for the third quarter of 2025 include:

Metric	Value (Q3 2025)	Change vs. Prior Year
Freight Car Velocity	226 daily miles per car	8% improvement
Average Train Length	9,801 feet	2% increase
Average Terminal Dwell	20.4 hours	9% improvement
Workforce Productivity	1,165 car miles per employee	6% improvement

Intermodal terminals and ramps across the western U.S.

Terminals are critical connection points for the intermodal segment, which saw year-to-date volumes up 4% through Q3 2025. Union Pacific Corporation has been actively investing in these facilities to improve truck turn times, which is a direct measure of channel effectiveness for intermodal customers. The new Kansas City Intermodal Terminal (KCIT) began operations in July 2025, adding capacity to this channel.

Technology integration at these ramps is a major focus for channel efficiency:

• 93% of truck drivers serving UP terminals now use the UPGo mobile app.
• Ingating speed is 65% faster due to the app and Precision Gating Technology (PGT).
• Gate exceptions are reduced by 45% through PGT implementation.
• GPS tracking is completed on approximately 90% of the container fleet, enhancing visibility within the terminal channel.
• 1,500 railcars are slated to be equipped with the RailPulse digital platform by year-end 2025.

Secure customer portal, My Portal, for all transaction and data needs.

The digital channel is evolving rapidly. Union Pacific Corporation rolled out the next phase of its redesigned customer portal, My Portal, in August 2025, organizing tools into Plan, Ship, and Pay categories. This is the primary self-service channel for data access and transactions.

The rollout status as of late 2025 shows segmentation:

• The updated portal is currently available for Manifest and Bulk customers.
• Rollout to Intermodal and Auto customers is scheduled for November 2025.

Beyond the portal, direct system integration via APIs serves as a high-level digital channel. Union Pacific Corporation has 65 available APIs covering invoices, shipment tracking, and car orders, with 100 customers actively using them.

Direct sales team and customer support centers.

While specific headcount for the direct sales team isn't public, the digital tools are designed to support them and automate routine interactions. The focus on operational improvements, such as the Q3 2025 adjusted operating ratio of 58.5% and strong core pricing gains, is a key part of the value proposition delivered through these direct channels. The company's executive team, including Kenny Rocker, EVP - Marketing & Sales, continues to address customers directly at industry conferences.

Interline gateways connecting to eastern and Mexican railroads.

Union Pacific Corporation relies on interline gateways to provide transcontinental service. The pending merger with Norfolk Southern, approved by shareholders on November 14, 2025, is set to fundamentally reshape this channel, aiming to create the first transcontinental railroad. The pro-forma combined company is estimated to have revenues of approximately $36 billion and EBITDA of approximately $18 billion. For Mexican traffic, service points like Calexico and El Paso serve as key border gateways, connecting to the Mexican rail network.

For example, in September 2025, an announcement confirmed offering service via steel wheel through Chicago connecting LATC, CA to Worcester, MA, demonstrating an active interline channel management strategy.

Union Pacific Corporation (UNP) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Union Pacific Corporation as of late 2025, grounded in the latest reported financials. These segments drive the freight revenue, which accounted for 95% of the top line in the second quarter of 2025. Total operating revenue for Union Pacific Corporation in Q2 2025 was $6.154 billion.

The customer base is primarily segmented by the type of commodity moved, which translates directly into their freight revenue streams. Here's how the major freight categories stacked up based on Q2 2025 revenue figures:

Segment	Q2 2025 Revenue (Approximate)	Q3 2025 Revenue Trend (YoY)
Industrial	$2.2 billion	Increased 3%
Bulk	$1.9 billion	Increased 7%
Premium	$1.73 billion	Decreased 2%

The Industrial segment, which includes chemicals, plastics, and metals, brought in $2.2 billion in revenue for Q2 2025. By the third quarter, this segment saw its revenue increase by 3%. This growth was fueled by wins in petrochemicals, construction, and metal shipments, though energy and specialized markets volume softened. Union Pacific Corporation provides transportation services for these goods to roughly 10,000 customers.

The Bulk segment, covering commodities like grain, coal, and fertilizers, generated $1.9 billion in revenue in Q2 2025. This segment showed strong momentum, with Q3 2025 revenue growing 7%. Specifically, Coal & renewables revenue was up 16% in Q3 2025, and Grain & grain products revenue increased 6%.

The Premium segment focuses on finished goods and intermodal traffic. In Q2 2025, this segment accounted for $1.73 billion in revenue. However, the third quarter showed a 2% revenue decrease, driven by a 3% decline in Intermodal revenue. Automotive shipments, a key part of this segment, decreased year-to-date in 2025 due to production uncertainty.

Union Pacific Corporation serves other critical partners within the transportation ecosystem as well. These include:

• Short Line Railroads: Regional carriers connecting to the main network.
• Large-scale manufacturers and retailers.
• Specific customers mentioned in service offerings include grain processors and animal feeders.
• Automakers like General Motors and Toyota North America are major customers within the Premium segment.

Business volumes, measured by total revenue carloads, increased 4% year-over-year in Q2 2025. Freight revenue, excluding the fuel surcharge, grew 6% in Q2 2025.

Union Pacific Corporation (UNP) - Canvas Business Model: Cost Structure

You're looking at the major drains on Union Pacific Corporation's cash flow, which, like any Class I railroad, are dominated by the sheer scale of the physical network. The cost structure is heavily weighted toward fixed assets and continuous upkeep. Honestly, maintaining that massive rail infrastructure across 23 western states is the foundation of their biggest fixed costs.

Significant operating expenses (OpEx) drive the day-to-day. For the third quarter of 2025, Union Pacific Corporation reported total operating expenses of $3.7 billion. Within that, compensation and benefits actually decreased by 1% in Q3 2025, which management attributed to 4% lower workforce levels and record productivity offsetting wage inflation. Fuel expense grew by 1% year-over-year in Q3 2025.

Capital expenditures are a huge, recurring cost, essential for network maintenance and modernization. Union Pacific Corporation reaffirmed its capital plan of $3.4 billion for the full year 2025. This spending is crucial because, as you know, running 21st-century logistics on 19th-century analog infrastructure creates an expensive problem.

Here's the quick math on how that $3.4 billion CapEx was planned to be allocated for 2025:

Cost Category	Planned Amount (2025)
Total Capital Plan	$3.4 billion
Infrastructure Modernization/Replacement (Rail, Ties, Ballasts)	$1.9 billion
Locomotives and Equipment	$600 million
Technology Investments	$300 million

Costs associated with safety and casualty management are non-negotiable, though they fluctuate. In Q3 2025, the company noted that lower casualty costs helped offset higher state and local taxes within the other expense line item. To be fair, track infrastructure failures are cited as a leading cause of unplanned outages, responsible for about 52 percent of derailments, which compounds costs through delays and emergency deployment.

Finally, you have the one-time, non-operating costs related to strategic moves. Merger-related costs, specifically associated with the proposed acquisition of Norfolk Southern Corporation, totaled $41 million in the third quarter of 2025. Due to focusing resources on that merger, share repurchases were paused for the quarter.

• Reported Operating Ratio (Q3 2025): 59.2%
• Adjusted Operating Ratio (Q3 2025): 58.5%
• Freight Car Velocity (Q3 2025): 226 daily miles per car
• Average Terminal Dwell (Q3 2025): 20.4 hours

Finance: draft 13-week cash view by Friday.

Union Pacific Corporation (UNP) - Canvas Business Model: Revenue Streams

You're looking at the core ways Union Pacific Corporation brings in cash. For a railroad this size, it's almost entirely about moving stuff from point A to point B, but the details of what they move matter a lot for revenue stability.

Freight revenue from the movement of goods, accounting for over 95% of the top line. Based on the full fiscal year 2024 figures, the combination of core freight segments plus accessorial charges-which are directly tied to freight movement-represented approximately 96.35% of the total operating revenue of $24.25 billion for that year. The most recent available total revenue, for the twelve months ending September 30, 2025, was $24.546 billion.

The breakdown of revenue streams is best seen through the segment reporting, which clearly shows the primary revenue drivers. For instance, in the first quarter of 2025, total operating revenue was $6.0 billion, with freight revenue excluding the fuel surcharge growing by 4%.

Here is the revenue breakdown by segment, using the detailed figures from fiscal year 2024:

Revenue Stream Category	FY 2024 Revenue Amount	Approximate Percentage of Total FY 2024 Revenue
Industrial Freight Revenue	$8.44 B	34.8%
Bulk Freight Revenue	$7.21 B	29.72%
Premium Freight Revenue	$7.16 B	29.54%
Other Subsidiary Revenues	$788.00 M	3.25%
Ancillary Revenues (Accessorial)	$554.00 M	2.28%
Other Miscellaneous Product and Service Revenues	$97.00 M	0.4%

Bulk freight revenue from commodities like grain and coal. This segment is foundational, historically making up a significant portion of the total freight revenue. In fiscal year 2024, Bulk shipments generated 32% of the company's total freight revenues. This includes commodities such as grain and grain products, fertilizer, food and refrigerated goods, and coal and renewables.

Industrial freight revenue from chemicals, metals, and forest products. The Industrial segment was the largest revenue generator in fiscal year 2024, bringing in $8.44 billion. Shipments here cover a diverse set of goods, including lumber, paper commodities, raw steel, finished pipe, stone, drilling fluid, and soda ash.

Premium freight revenue from intermodal and automotive shipments. For fiscal year 2024, Premium shipments accounted for 31% of total freight revenues. This stream is composed of finished automobiles, automotive parts, and merchandise moving in intermodal containers, both domestic and international. International intermodal volumes saw a 26% increase in the fourth quarter of 2024, driven by import demand.

Ancillary revenues from fuel surcharges, demurrage, and accessorial charges. These charges are critical, though they can fluctuate based on external factors like fuel prices. Accessorial Revenues in fiscal year 2024 totaled $554.00 million. You saw the impact of fuel costs in the second quarter of 2025, where operating revenue of $6.2 billion was partially offset by reduced fuel surcharge revenue. For example, the January 2025 Monthly Intermodal Fuel Surcharge was set at 29.5%. In the third quarter of 2025, the fuel surcharge component alone was $602 million, representing a 5% decline year-over-year.

• In Q3 2025, freight revenue excluding the fuel surcharge was $5.3 billion.
• The operating ratio for the full year 2024 was 59.9%, improving to 58.7% in the fourth quarter of 2024.
• For Q1 2025, the operating ratio was 60.7%, flat compared to 2024, with lower fuel prices creating a 90 basis point headwind.
• The company reported full year 2024 net income of $6.7 billion.
• Diluted Earnings Per Share (EPS) for full year 2024 was $11.09.

Finance: draft 13-week cash view by Friday.