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Side-by-side financial comparison of Travelers Companies (The) (TRV) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Travelers Companies (The) 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 20.1%, a 7.3% gap on every dollar of revenue. On growth, Travelers Companies (The) posted the faster year-over-year revenue change (3.5% vs 3.2%). Over the past eight quarters, Travelers Companies (The)'s revenue compounded faster (5.2% CAGR vs 1.7%).
The Travelers Companies, Inc., commonly known as Travelers, is an American multinational insurance company. It is the second-largest writer of U.S. commercial property and casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in New York City, and its largest office in Hartford, Connecticut. It has been a component of the Dow Jones Industrial Average since June 8, 2009.
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.
TRV vs UNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $12.4B | $6.2B |
| Net Profit | $2.5B | $1.7B |
| Gross Margin | — | — |
| Operating Margin | 25.0% | 39.5% |
| Net Margin | 20.1% | 27.4% |
| Revenue YoY | 3.5% | 3.2% |
| Net Profit YoY | 19.9% | 4.6% |
| EPS (diluted) | $10.96 | $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 | $12.5B | $6.2B | ||
| Q2 25 | $12.1B | $6.2B | ||
| Q1 25 | $11.8B | $6.0B | ||
| Q4 24 | $12.0B | $6.1B | ||
| Q3 24 | $11.9B | $6.1B | ||
| Q2 24 | $11.3B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $1.9B | $1.8B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $395.0M | $1.6B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $534.0M | $1.7B |
| Q1 26 | — | 39.5% | ||
| Q4 25 | 25.0% | 39.5% | ||
| Q3 25 | 18.8% | 40.8% | ||
| Q2 25 | 15.5% | 41.0% | ||
| Q1 25 | 4.0% | 39.3% | ||
| Q4 24 | 21.6% | 41.3% | ||
| Q3 24 | 13.1% | 39.7% | ||
| Q2 24 | 5.8% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 20.1% | 30.4% | ||
| Q3 25 | 15.1% | 28.6% | ||
| Q2 25 | 12.5% | 30.5% | ||
| Q1 25 | 3.3% | 27.0% | ||
| Q4 24 | 17.3% | 28.8% | ||
| Q3 24 | 10.6% | 27.4% | ||
| Q2 24 | 4.7% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $10.96 | $3.12 | ||
| Q3 25 | $8.24 | $3.01 | ||
| Q2 25 | $6.53 | $3.15 | ||
| Q1 25 | $1.70 | $2.70 | ||
| Q4 24 | $8.96 | $2.91 | ||
| Q3 24 | $5.42 | $2.75 | ||
| Q2 24 | $2.29 | $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 | — | $735.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $32.9B | — |
| Total Assets | $143.7B | $69.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $808.0M | ||
| Q2 25 | — | $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 | — | — | ||
| Q4 25 | $32.9B | $18.5B | ||
| Q3 25 | $31.6B | $17.3B | ||
| Q2 25 | $29.5B | $16.3B | ||
| Q1 25 | $28.2B | $16.0B | ||
| Q4 24 | $27.9B | $16.9B | ||
| Q3 24 | $27.7B | $16.6B | ||
| Q2 24 | $24.9B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $143.7B | $69.7B | ||
| Q3 25 | $143.7B | $68.6B | ||
| Q2 25 | $138.9B | $68.6B | ||
| Q1 25 | $136.0B | $68.5B | ||
| Q4 24 | $133.2B | $67.7B | ||
| Q3 24 | $134.6B | $67.6B | ||
| Q2 24 | $129.3B | $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 | $2.7B | — |
| Free Cash FlowOCF − Capex | — | $631.0M |
| FCF MarginFCF / Revenue | — | 10.1% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $4.2B | $2.5B | ||
| Q2 25 | $2.3B | $2.3B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $2.1B | $2.7B | ||
| Q3 24 | $3.9B | $2.7B | ||
| Q2 24 | $1.7B | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 25.2% | ||
| Q2 25 | — | 22.7% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 28.4% | ||
| Q3 24 | — | 29.9% | ||
| Q2 24 | — | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 16.4% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 15.1% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | — | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.08× | 1.20× | ||
| Q3 25 | 2.24× | 1.41× | ||
| Q2 25 | 1.55× | 1.24× | ||
| Q1 25 | 3.44× | 1.36× | ||
| Q4 24 | 0.99× | 1.51× | ||
| Q3 24 | 3.08× | 1.59× | ||
| Q2 24 | 3.14× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TRV
| Business And International Insurance | $6.6B | 53% |
| Personal Insurance | $4.6B | 37% |
| Bond And Specialty Insurance | $1.2B | 9% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
