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Side-by-side financial comparison of Nike, Inc. (NKE) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Nike, Inc. is the larger business by last-quarter revenue ($12.4B vs $6.2B, roughly 2.0× Union Pacific Corporation). Union Pacific Corporation runs the higher net margin — 27.4% vs 6.4%, a 21.0% gap on every dollar of revenue. On growth, Union Pacific Corporation posted the faster year-over-year revenue change (3.2% vs 0.6%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $386.0M). Over the past eight quarters, Union Pacific Corporation's revenue compounded faster (1.7% CAGR vs -0.0%).
Nike often refers to:Nike, Inc., a major American producer of athletic shoes, apparel, and sports equipment Nike (mythology), a Greek goddess who personifies victory
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.
NKE vs UNP — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $12.4B | $6.2B |
| Net Profit | $792.0M | $1.7B |
| Gross Margin | 40.6% | — |
| Operating Margin | — | 39.5% |
| Net Margin | 6.4% | 27.4% |
| Revenue YoY | 0.6% | 3.2% |
| Net Profit YoY | -31.9% | 4.6% |
| EPS (diluted) | $0.53 | $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 | $12.4B | $6.1B | ||
| Q3 25 | $11.7B | $6.2B | ||
| Q2 25 | $11.1B | $6.2B | ||
| Q1 25 | $11.3B | $6.0B | ||
| Q4 24 | $12.4B | $6.1B | ||
| Q3 24 | $11.6B | $6.1B | ||
| Q2 24 | $12.6B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $792.0M | $1.8B | ||
| Q3 25 | $727.0M | $1.8B | ||
| Q2 25 | $211.0M | $1.9B | ||
| Q1 25 | $794.0M | $1.6B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.5B | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | 40.6% | — | ||
| Q3 25 | 42.2% | — | ||
| Q2 25 | 40.3% | — | ||
| Q1 25 | 41.5% | — | ||
| Q4 24 | 43.6% | — | ||
| Q3 24 | 45.4% | — | ||
| Q2 24 | 44.7% | — |
| Q1 26 | — | 39.5% | ||
| Q4 25 | — | 39.5% | ||
| Q3 25 | — | 40.8% | ||
| Q2 25 | 2.9% | 41.0% | ||
| Q1 25 | 7.5% | 39.3% | ||
| Q4 24 | 11.5% | 41.3% | ||
| Q3 24 | 11.3% | 39.7% | ||
| Q2 24 | 13.7% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 6.4% | 30.4% | ||
| Q3 25 | 6.2% | 28.6% | ||
| Q2 25 | 1.9% | 30.5% | ||
| Q1 25 | 7.0% | 27.0% | ||
| Q4 24 | 9.4% | 28.8% | ||
| Q3 24 | 9.1% | 27.4% | ||
| Q2 24 | 11.9% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $0.53 | $3.12 | ||
| Q3 25 | $0.49 | $3.01 | ||
| Q2 25 | $0.14 | $3.15 | ||
| Q1 25 | $0.54 | $2.70 | ||
| Q4 24 | $0.78 | $2.91 | ||
| Q3 24 | $0.70 | $2.75 | ||
| Q2 24 | $0.99 | $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 | $7.0B | $735.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $14.1B | — |
| Total Assets | $37.8B | $69.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $7.0B | $1.3B | ||
| Q3 25 | $7.0B | $808.0M | ||
| Q2 25 | $7.5B | $1.1B | ||
| Q1 25 | $8.6B | $1.4B | ||
| Q4 24 | $8.0B | $1.0B | ||
| Q3 24 | $8.5B | $947.0M | ||
| Q2 24 | $9.9B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | $30.3B | ||
| Q3 25 | — | $30.3B | ||
| Q2 25 | $8.0B | $30.3B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | — | $29.8B | ||
| Q3 24 | — | $29.8B | ||
| Q2 24 | $8.9B | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $14.1B | $18.5B | ||
| Q3 25 | $13.5B | $17.3B | ||
| Q2 25 | $13.2B | $16.3B | ||
| Q1 25 | $14.0B | $16.0B | ||
| Q4 24 | $14.0B | $16.9B | ||
| Q3 24 | $13.9B | $16.6B | ||
| Q2 24 | $14.4B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $37.8B | $69.7B | ||
| Q3 25 | $37.3B | $68.6B | ||
| Q2 25 | $36.6B | $68.6B | ||
| Q1 25 | $37.8B | $68.5B | ||
| Q4 24 | $38.0B | $67.7B | ||
| Q3 24 | $37.9B | $67.6B | ||
| Q2 24 | $38.1B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.64× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | 0.60× | 1.86× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | 1.76× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | 0.62× | 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 | $579.0M | — |
| Free Cash FlowOCF − Capex | $386.0M | $631.0M |
| FCF MarginFCF / Revenue | 3.1% | 10.1% |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | 0.73× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $579.0M | $2.2B | ||
| Q3 25 | $222.0M | $2.5B | ||
| Q2 25 | $463.0M | $2.3B | ||
| Q1 25 | $1.8B | $2.2B | ||
| Q4 24 | $1.0B | $2.7B | ||
| Q3 24 | $394.0M | $2.7B | ||
| Q2 24 | $2.6B | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $386.0M | $1.2B | ||
| Q3 25 | $15.0M | $1.6B | ||
| Q2 25 | $363.0M | $1.4B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $920.0M | $1.7B | ||
| Q3 24 | $274.0M | $1.8B | ||
| Q2 24 | $2.4B | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | 3.1% | 20.1% | ||
| Q3 25 | 0.1% | 25.2% | ||
| Q2 25 | 3.3% | 22.7% | ||
| Q1 25 | 15.2% | 21.6% | ||
| Q4 24 | 7.4% | 28.4% | ||
| Q3 24 | 2.4% | 29.9% | ||
| Q2 24 | 19.1% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | 16.4% | ||
| Q3 25 | 1.8% | 15.2% | ||
| Q2 25 | 0.9% | 15.2% | ||
| Q1 25 | 0.7% | 15.0% | ||
| Q4 24 | 1.0% | 15.1% | ||
| Q3 24 | 1.0% | 13.6% | ||
| Q2 24 | 1.7% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.73× | 1.20× | ||
| Q3 25 | 0.31× | 1.41× | ||
| Q2 25 | 2.19× | 1.24× | ||
| Q1 25 | 2.26× | 1.36× | ||
| Q4 24 | 0.90× | 1.51× | ||
| Q3 24 | 0.37× | 1.59× | ||
| Q2 24 | 1.75× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NKE
| Footwear | $7.7B | 62% |
| Apparel | $3.9B | 31% |
| Sporting Equipment | $550.0M | 4% |
| Converse Segment | $300.0M | 2% |
| Sales Channel Other | $9.0M | 0% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
