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Side-by-side financial comparison of BANK OF MONTREAL (BMO) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
BANK OF MONTREAL is the larger business by last-quarter revenue ($7.2B vs $6.2B, roughly 1.2× Union Pacific Corporation). Union Pacific Corporation runs the higher net margin — 27.4% vs 25.3%, a 2.0% gap on every dollar of revenue. BANK OF MONTREAL produced more free cash flow last quarter ($1.0B vs $631.0M).
The Bank of Montreal, abbreviated as BMO, is a Canadian multinational investment bank and financial services company.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
BMO vs UNP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.2B | $6.2B |
| Net Profit | $1.8B | $1.7B |
| Gross Margin | — | — |
| Operating Margin | — | 39.5% |
| Net Margin | 25.3% | 27.4% |
| Revenue YoY | — | 3.2% |
| Net Profit YoY | — | 4.6% |
| EPS (diluted) | — | $2.87 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $7.2B | $6.2B | ||
| Q4 25 | — | $6.1B | ||
| Q3 25 | $6.6B | $6.2B | ||
| Q2 25 | $6.3B | $6.2B | ||
| Q1 25 | — | $6.0B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.0B |
| Q1 26 | $1.8B | $1.7B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $1.7B | $1.8B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | — | 39.5% | ||
| Q4 25 | — | 39.5% | ||
| Q3 25 | — | 40.8% | ||
| Q2 25 | — | 41.0% | ||
| Q1 25 | — | 39.3% | ||
| Q4 24 | — | 41.3% | ||
| Q3 24 | — | 39.7% | ||
| Q2 24 | — | 40.0% |
| Q1 26 | 25.3% | 27.4% | ||
| Q4 25 | — | 30.4% | ||
| Q3 25 | 25.9% | 28.6% | ||
| Q2 25 | 22.6% | 30.5% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 28.8% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | — | $3.12 | ||
| Q3 25 | — | $3.01 | ||
| Q2 25 | — | $3.15 | ||
| Q1 25 | — | $2.70 | ||
| Q4 24 | — | $2.91 | ||
| Q3 24 | — | $2.75 | ||
| Q2 24 | — | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.2B | $735.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.6B | — |
| Total Assets | $1064.4B | $69.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $49.2B | $735.0M | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $42.8B | $808.0M | ||
| Q2 25 | $47.7B | $1.1B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $947.0M | ||
| Q2 24 | — | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | $30.3B | ||
| Q3 25 | — | $30.3B | ||
| Q2 25 | — | $30.3B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | — | $29.8B | ||
| Q3 24 | — | $29.8B | ||
| Q2 24 | — | $31.2B |
| Q1 26 | $62.6B | — | ||
| Q4 25 | — | $18.5B | ||
| Q3 25 | $63.3B | $17.3B | ||
| Q2 25 | $62.7B | $16.3B | ||
| Q1 25 | — | $16.0B | ||
| Q4 24 | — | $16.9B | ||
| Q3 24 | — | $16.6B | ||
| Q2 24 | — | $16.5B |
| Q1 26 | $1064.4B | $69.6B | ||
| Q4 25 | — | $69.7B | ||
| Q3 25 | $1045.0B | $68.6B | ||
| Q2 25 | $1051.4B | $68.6B | ||
| Q1 25 | — | $68.5B | ||
| Q4 24 | — | $67.7B | ||
| Q3 24 | — | $67.6B | ||
| Q2 24 | — | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.64× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | 1.76× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.89× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.3B | — |
| Free Cash FlowOCF − Capex | $1.0B | $631.0M |
| FCF MarginFCF / Revenue | 14.4% | 10.1% |
| Capex IntensityCapex / Revenue | 3.9% | — |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | $-3.1B | $2.5B | ||
| Q2 25 | $-2.3B | $2.3B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | $1.0B | $631.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $-3.4B | $1.6B | ||
| Q2 25 | $-2.7B | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.0B |
| Q1 26 | 14.4% | 10.1% | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | -51.3% | 25.2% | ||
| Q2 25 | -41.8% | 22.7% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 28.4% | ||
| Q3 24 | — | 29.9% | ||
| Q2 24 | — | 16.8% |
| Q1 26 | 3.9% | — | ||
| Q4 25 | — | 16.4% | ||
| Q3 25 | 4.5% | 15.2% | ||
| Q2 25 | 5.1% | 15.2% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 15.1% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | — | 15.0% |
| Q1 26 | 0.72× | — | ||
| Q4 25 | — | 1.20× | ||
| Q3 25 | -1.81× | 1.41× | ||
| Q2 25 | -1.63× | 1.24× | ||
| Q1 25 | — | 1.36× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | — | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BMO
Segment breakdown not available.
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
