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Side-by-side financial comparison of Union Pacific Corporation (UNP) and Vistra Corp. (VST). Click either name above to swap in a different company.
Union Pacific Corporation is the larger business by last-quarter revenue ($6.2B vs $4.8B, roughly 1.3× Vistra Corp.). Union Pacific Corporation runs the higher net margin — 27.4% vs 4.8%, a 22.5% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 3.2%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $596.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs 1.7%).
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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
UNP vs VST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.2B | $4.8B |
| Net Profit | $1.7B | $233.0M |
| Gross Margin | — | — |
| Operating Margin | 39.5% | 9.9% |
| Net Margin | 27.4% | 4.8% |
| Revenue YoY | 3.2% | 31.2% |
| Net Profit YoY | 4.6% | -47.2% |
| EPS (diluted) | $2.87 | $0.55 |
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 | $6.1B | $4.8B | ||
| Q3 25 | $6.2B | $4.8B | ||
| Q2 25 | $6.2B | $3.8B | ||
| Q1 25 | $6.0B | $4.3B | ||
| Q4 24 | $6.1B | $3.7B | ||
| Q3 24 | $6.1B | $4.3B | ||
| Q2 24 | $6.0B | $3.6B |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.8B | $233.0M | ||
| Q3 25 | $1.8B | $652.0M | ||
| Q2 25 | $1.9B | $327.0M | ||
| Q1 25 | $1.6B | $-268.0M | ||
| Q4 24 | $1.8B | $441.0M | ||
| Q3 24 | $1.7B | $1.9B | ||
| Q2 24 | $1.7B | $365.0M |
| Q1 26 | 39.5% | — | ||
| Q4 25 | 39.5% | 9.9% | ||
| Q3 25 | 40.8% | 21.7% | ||
| Q2 25 | 41.0% | 13.7% | ||
| Q1 25 | 39.3% | -2.8% | ||
| Q4 24 | 41.3% | 16.4% | ||
| Q3 24 | 39.7% | 59.6% | ||
| Q2 24 | 40.0% | 22.5% |
| Q1 26 | 27.4% | — | ||
| Q4 25 | 30.4% | 4.8% | ||
| Q3 25 | 28.6% | 13.6% | ||
| Q2 25 | 30.5% | 8.7% | ||
| Q1 25 | 27.0% | -6.3% | ||
| Q4 24 | 28.8% | 12.0% | ||
| Q3 24 | 27.4% | 43.5% | ||
| Q2 24 | 27.9% | 10.1% |
| Q1 26 | $2.87 | — | ||
| Q4 25 | $3.12 | $0.55 | ||
| Q3 25 | $3.01 | $1.75 | ||
| Q2 25 | $3.15 | $0.81 | ||
| Q1 25 | $2.70 | $-0.93 | ||
| Q4 24 | $2.91 | $1.09 | ||
| Q3 24 | $2.75 | $5.25 | ||
| Q2 24 | $2.74 | $0.90 |
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 | $785.0M |
| Total DebtLower is stronger | — | $15.8B |
| Stockholders' EquityBook value | — | $5.1B |
| Total Assets | $69.6B | $41.5B |
| Debt / EquityLower = less leverage | — | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $735.0M | — | ||
| Q4 25 | $1.3B | $785.0M | ||
| Q3 25 | $808.0M | $602.0M | ||
| Q2 25 | $1.1B | $458.0M | ||
| Q1 25 | $1.4B | $561.0M | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $947.0M | $905.0M | ||
| Q2 24 | $1.1B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $30.3B | $15.8B | ||
| Q3 25 | $30.3B | $15.8B | ||
| Q2 25 | $30.3B | $15.5B | ||
| Q1 25 | $30.6B | $15.4B | ||
| Q4 24 | $29.8B | $15.4B | ||
| Q3 24 | $29.8B | $13.9B | ||
| Q2 24 | $31.2B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | $18.5B | $5.1B | ||
| Q3 25 | $17.3B | $5.2B | ||
| Q2 25 | $16.3B | $4.8B | ||
| Q1 25 | $16.0B | $4.8B | ||
| Q4 24 | $16.9B | $5.6B | ||
| Q3 24 | $16.6B | $5.4B | ||
| Q2 24 | $16.5B | $5.6B |
| Q1 26 | $69.6B | — | ||
| Q4 25 | $69.7B | $41.5B | ||
| Q3 25 | $68.6B | $38.0B | ||
| Q2 25 | $68.6B | $38.1B | ||
| Q1 25 | $68.5B | $38.2B | ||
| Q4 24 | $67.7B | $37.8B | ||
| Q3 24 | $67.6B | $37.9B | ||
| Q2 24 | $67.8B | $39.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 3.11× | ||
| Q3 25 | 1.75× | 3.02× | ||
| Q2 25 | 1.86× | 3.22× | ||
| Q1 25 | 1.91× | 3.20× | ||
| Q4 24 | 1.76× | 2.77× | ||
| Q3 24 | 1.79× | 2.56× | ||
| Q2 24 | 1.89× | 2.49× |
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 | — | $1.4B |
| Free Cash FlowOCF − Capex | $631.0M | $596.0M |
| FCF MarginFCF / Revenue | 10.1% | 12.4% |
| Capex IntensityCapex / Revenue | — | 17.4% |
| Cash ConversionOCF / Net Profit | — | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $1.4B | ||
| Q3 25 | $2.5B | $1.5B | ||
| Q2 25 | $2.3B | $572.0M | ||
| Q1 25 | $2.2B | $599.0M | ||
| Q4 24 | $2.7B | $1.4B | ||
| Q3 24 | $2.7B | $1.7B | ||
| Q2 24 | $1.9B | $1.2B |
| Q1 26 | $631.0M | — | ||
| Q4 25 | $1.2B | $596.0M | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.4B | $-118.0M | ||
| Q1 25 | $1.3B | $-169.0M | ||
| Q4 24 | $1.7B | $923.0M | ||
| Q3 24 | $1.8B | $1.0B | ||
| Q2 24 | $1.0B | $698.0M |
| Q1 26 | 10.1% | — | ||
| Q4 25 | 20.1% | 12.4% | ||
| Q3 25 | 25.2% | 21.1% | ||
| Q2 25 | 22.7% | -3.1% | ||
| Q1 25 | 21.6% | -4.0% | ||
| Q4 24 | 28.4% | 25.2% | ||
| Q3 24 | 29.9% | 23.4% | ||
| Q2 24 | 16.8% | 19.4% |
| Q1 26 | — | — | ||
| Q4 25 | 16.4% | 17.4% | ||
| Q3 25 | 15.2% | 9.6% | ||
| Q2 25 | 15.2% | 18.4% | ||
| Q1 25 | 15.0% | 18.1% | ||
| Q4 24 | 15.1% | 11.7% | ||
| Q3 24 | 13.6% | 15.8% | ||
| Q2 24 | 15.0% | 13.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.20× | 6.15× | ||
| Q3 25 | 1.41× | 2.25× | ||
| Q2 25 | 1.24× | 1.75× | ||
| Q1 25 | 1.36× | — | ||
| Q4 24 | 1.51× | 3.07× | ||
| Q3 24 | 1.59× | 0.90× | ||
| Q2 24 | 1.14× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
