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Side-by-side financial comparison of FirstEnergy (FE) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Union Pacific Corporation is the larger business by last-quarter revenue ($6.2B vs $3.8B, roughly 1.6× FirstEnergy). Union Pacific Corporation runs the higher net margin — 27.4% vs -1.3%, a 28.7% gap on every dollar of revenue. On growth, FirstEnergy posted the faster year-over-year revenue change (19.6% vs 3.2%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $-30.0M). Over the past eight quarters, FirstEnergy's revenue compounded faster (7.5% CAGR vs 1.7%).
FirstEnergy Corp. is an electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997.
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.
FE vs UNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $6.2B |
| Net Profit | $-49.0M | $1.7B |
| Gross Margin | — | — |
| Operating Margin | -0.6% | 39.5% |
| Net Margin | -1.3% | 27.4% |
| Revenue YoY | 19.6% | 3.2% |
| Net Profit YoY | -118.8% | -2.1% |
| EPS (diluted) | $-0.08 | $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 | — | $6.2B | ||
| Q4 25 | $3.8B | $6.1B | ||
| Q3 25 | $4.1B | $6.2B | ||
| Q2 25 | $3.4B | $6.2B | ||
| Q1 25 | $3.8B | $6.0B | ||
| Q4 24 | $3.2B | $6.1B | ||
| Q3 24 | $3.7B | $6.1B | ||
| Q2 24 | $3.3B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $-49.0M | $1.8B | ||
| Q3 25 | $441.0M | $1.8B | ||
| Q2 25 | $268.0M | $1.9B | ||
| Q1 25 | $360.0M | $1.6B | ||
| Q4 24 | $261.0M | $1.8B | ||
| Q3 24 | $419.0M | $1.7B | ||
| Q2 24 | $45.0M | $1.7B |
| Q1 26 | — | 39.5% | ||
| Q4 25 | -0.6% | 39.5% | ||
| Q3 25 | 20.0% | 40.8% | ||
| Q2 25 | 19.1% | 41.0% | ||
| Q1 25 | 20.0% | 39.3% | ||
| Q4 24 | 19.3% | 41.3% | ||
| Q3 24 | 19.5% | 39.7% | ||
| Q2 24 | 12.9% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | -1.3% | 30.4% | ||
| Q3 25 | 10.6% | 28.6% | ||
| Q2 25 | 7.9% | 30.5% | ||
| Q1 25 | 9.6% | 27.0% | ||
| Q4 24 | 8.2% | 28.8% | ||
| Q3 24 | 11.2% | 27.4% | ||
| Q2 24 | 1.4% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $-0.08 | $3.12 | ||
| Q3 25 | $0.76 | $3.01 | ||
| Q2 25 | $0.46 | $3.15 | ||
| Q1 25 | $0.62 | $2.70 | ||
| Q4 24 | $0.45 | $2.91 | ||
| Q3 24 | $0.73 | $2.75 | ||
| Q2 24 | $0.08 | $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 | $57.0M | $735.0M |
| Total DebtLower is stronger | $25.5B | — |
| Stockholders' EquityBook value | $12.5B | — |
| Total Assets | $55.9B | $69.6B |
| Debt / EquityLower = less leverage | 2.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $57.0M | $1.3B | ||
| Q3 25 | $1.4B | $808.0M | ||
| Q2 25 | $569.0M | $1.1B | ||
| Q1 25 | $132.0M | $1.4B | ||
| Q4 24 | $111.0M | $1.0B | ||
| Q3 24 | $439.0M | $947.0M | ||
| Q2 24 | $60.0M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $25.5B | $30.3B | ||
| Q3 25 | $25.5B | $30.3B | ||
| Q2 25 | $23.7B | $30.3B | ||
| Q1 25 | $21.2B | $30.6B | ||
| Q4 24 | $22.5B | $29.8B | ||
| Q3 24 | $21.6B | $29.8B | ||
| Q2 24 | $20.8B | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $12.5B | $18.5B | ||
| Q3 25 | $12.8B | $17.3B | ||
| Q2 25 | $12.9B | $16.3B | ||
| Q1 25 | $12.6B | $16.0B | ||
| Q4 24 | $12.5B | $16.9B | ||
| Q3 24 | $12.4B | $16.6B | ||
| Q2 24 | $12.5B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $55.9B | $69.7B | ||
| Q3 25 | $55.9B | $68.6B | ||
| Q2 25 | $54.2B | $68.6B | ||
| Q1 25 | $52.8B | $68.5B | ||
| Q4 24 | $52.0B | $67.7B | ||
| Q3 24 | $50.8B | $67.6B | ||
| Q2 24 | $51.0B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 2.04× | 1.64× | ||
| Q3 25 | 1.99× | 1.75× | ||
| Q2 25 | 1.85× | 1.86× | ||
| Q1 25 | 1.69× | 1.91× | ||
| Q4 24 | 1.81× | 1.76× | ||
| Q3 24 | 1.74× | 1.79× | ||
| Q2 24 | 1.67× | 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 | $1.1B | — |
| Free Cash FlowOCF − Capex | $-30.0M | $631.0M |
| FCF MarginFCF / Revenue | -0.8% | 10.1% |
| Capex IntensityCapex / Revenue | 30.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.0B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $845.0M | $2.5B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $637.0M | $2.2B | ||
| Q4 24 | $1.0B | $2.7B | ||
| Q3 24 | $775.0M | $2.7B | ||
| Q2 24 | $1.1B | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $-30.0M | $1.2B | ||
| Q3 25 | $-471.0M | $1.6B | ||
| Q2 25 | $-136.0M | $1.4B | ||
| Q1 25 | $-368.0M | $1.3B | ||
| Q4 24 | $-250.0M | $1.7B | ||
| Q3 24 | $-229.0M | $1.8B | ||
| Q2 24 | $170.0M | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | -0.8% | 20.1% | ||
| Q3 25 | -11.4% | 25.2% | ||
| Q2 25 | -4.0% | 22.7% | ||
| Q1 25 | -9.8% | 21.6% | ||
| Q4 24 | -7.9% | 28.4% | ||
| Q3 24 | -6.1% | 29.9% | ||
| Q2 24 | 5.2% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 30.7% | 16.4% | ||
| Q3 25 | 31.7% | 15.2% | ||
| Q2 25 | 36.0% | 15.2% | ||
| Q1 25 | 26.7% | 15.0% | ||
| Q4 24 | 40.7% | 15.1% | ||
| Q3 24 | 26.9% | 13.6% | ||
| Q2 24 | 28.7% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.20× | ||
| Q3 25 | 1.92× | 1.41× | ||
| Q2 25 | 4.04× | 1.24× | ||
| Q1 25 | 1.77× | 1.36× | ||
| Q4 24 | 4.00× | 1.51× | ||
| Q3 24 | 1.85× | 1.59× | ||
| Q2 24 | 24.71× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
