Union Pacific (UNP) vs CSX (CSX): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
Union Pacific is cheaper on earnings, at 22.8 times against 25.7; Union Pacific keeps the higher net margin (28.9% against 24.0%); Union Pacific grew revenue faster over the last year (7.4% against 5.8%); dividend yield is about the same (1.9% and 1.1%). Union Pacific clears 5 of this site's 8 value filters and CSX 4. Figures are as of November 7, 2026; each is on the page below with its source.
How do Union Pacific and CSX compare on the numbers?
| Measure | Union Pacific (UNP) | CSX (CSX) | Clearer lead |
|---|---|---|---|
| Share price | $290.16 | $49.12 | |
| Market value | $174 billion | $92.2 billion | |
| P/E ratio (trailing) | 22.8 | 25.7 | UNP |
| PEG ratio | 2.57 | 1.96 | CSX |
| Free-cash-flow yield | 3.9% | 3.5% | About the same |
| Net profit margin | 28.9% | 24.0% | UNP |
| Revenue growth, last year | 7.4% | 5.8% | UNP |
| Return on equity | 37.8% | 25.9% | UNP |
| Debt to equity | 1.38 | 1.31 | About the same |
| Dividend yield | 1.9% | 1.1% | About the same |
| Margin of safety (DCF) | -52.1% | -68.0% | UNP |
| Value filters passed (of 8) | 5 | 4 | UNP |
| Distance from 52-week high | -6.6% | -7.7% |
How have Union Pacific and CSX shares done against each other?
Union Pacific 121CSX 138
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, Union Pacific shares are up 21% and CSX shares up 38%, so CSX has pulled ahead of Union Pacific by 17 points of the starting price. The deepest fall from a prior high in that window was 28% for Union Pacific and 28% for CSX.
| Period | Union Pacific (UNP) | CSX (CSX) |
|---|---|---|
| Last 1 year | +33.1% | +39.7% |
| Last 3 years | +36.2% | +61.7% |
| Last 5 years | +21.5% | +38.7% |
Which has grown faster, Union Pacific or CSX?
Over 5 years, Union Pacific grew revenue 4.6% a year and earnings per share 8.7% a year; CSX grew revenue 5.9% and earnings per share 5.1%. Its net margin averaged 28.3% at Union Pacific and 25.5% at CSX.
| Measure | Union Pacific (UNP) | CSX (CSX) |
|---|---|---|
| Latest fiscal year ended | Dec 2025 | Dec 2025 |
| Revenue, first year to latest | $19.5 billion to $24.5 billion | $10.6 billion to $14.1 billion |
| Revenue growth per year | 4.6% | 5.9% |
| Earnings per share, first year to latest | $7.88 to $11.98 | $1.20 to $1.54 |
| Earnings per share growth per year | 8.7% | 5.1% |
| Net margin, latest year | 29.1% | 20.5% |
| Net margin, average of the years | 28.3% | 25.5% |
| Free cash flow margin, latest year | 22.4% | 12.1% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years.
What growth does each share price assume?
| Measure | Union Pacific (UNP) | CSX (CSX) |
|---|---|---|
| Free cash flow growth the price implies | 18.7% a year | 21.2% a year |
| Free cash flow per share | $11.17 | $1.71 |
| Margin of safety on this site's DCF | -52.1% | -68.0% |
At $290.16, Union Pacific's price implies free cash flow growth of 18.7% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
At $49.12, CSX's price implies free cash flow growth of 21.2% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where Union Pacific leads
- Lower P/E: 22.8 against 25.7
- Higher net margin: 28.9% against 24.0%
- Faster revenue growth last year: 7.4% against 5.8%
- Higher return on equity: 37.8% against 25.9%
- Higher margin of safety on this site's DCF: -52.1% against -68.0%
- More of the 8 value filters: 5 against 4
- Faster earnings-per-share growth over its filed record: 8.7% against 5.1%
- A higher net margin in its latest filed year: 29.1% against 20.5%
- A higher average net margin: 28.3% against 25.5%
- A higher free-cash-flow margin in its latest filed year: 22.4% against 12.1%
Where CSX leads
- Lower PEG: 1.96 against 2.57
- Faster revenue growth over its filed record: 5.9% against 4.6%
About the same on: free-cash-flow yield, debt to equity, dividend yield. A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
Union Pacific. Union Pacific is the largest US railroad by revenue. It hauls freight such as chemicals, grain, autos and intermodal containers over a network of about 32,000 route miles across 23 western states.
CSX. CSX is a large US railroad hauling freight such as coal, chemicals, autos and intermodal containers across the eastern United States.
Both are in the Road & Rail industry on this site.
What stands out about Union Pacific
- Misses 1 of the 8 value filters. It fails PEG Ratio < 1.5 (2.57); the other 5 pass and 2 were not evaluated.
- The margin of safety is falling. It went from -48% on Oct 7 to -52% on Nov 7 across 8 weekly readings.
- Strongest against peers: net margin. At 28.9% (peer median 5.3%) it ranks 1st of 14 among transportation stocks this site tracks.
What stands out about CSX
- Misses 2 of the 8 value filters. It fails Trailing P/E < 25 (25.73) and PEG Ratio < 1.5 (1.96); the other 4 pass and 2 were not evaluated.
- The margin of safety is rising. It went from -84% on Oct 7 to -68% on Nov 7 across 8 weekly readings.
- Strongest against peers: net margin. At 24.0% (peer median 5.3%) it ranks 2nd of 14 among transportation stocks this site tracks.
Frequently asked questions about Union Pacific and CSX
Which is cheaper, Union Pacific or CSX?
On trailing earnings, Union Pacific is cheaper: Union Pacific trades at 22.8 times and CSX at 25.7 times. On free cash flow, the yields are 3.9% and 3.5%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, Union Pacific or CSX?
Their yields are about the same: Union Pacific 1.9% and CSX 1.1% over the last year.
Which has grown faster, Union Pacific or CSX?
Over their latest filed five years, Union Pacific grew revenue 4.6% a year and CSX 5.9%; earnings per share grew 8.7% and 5.1% a year.
Which has more debt, Union Pacific or CSX?
They carry about the same debt for their equity: debt to equity is 1.38 for Union Pacific and 1.31 for CSX. A very high figure can also come from buybacks that shrank equity.
Which is more profitable, Union Pacific or CSX?
Union Pacific keeps more of each sales dollar as profit: 28.9% for Union Pacific and 24.0% for CSX, with a return on equity of 37.8% and 25.9%.
Which passes more of the 8 value filters?
Union Pacific clears more: Union Pacific 5 of 8 and CSX 4 of 8. The filters are this site's own value rules, not a prediction.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on Union Pacific and CSX). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.