UNP vs. NSC

Last updated Apr 1, 2026

Compare and contrast key facts about Union Pacific Corporation (UNP) and Norfolk Southern Corporation (NSC).

Performance

UNP vs. NSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Union Pacific Corporation (UNP) and Norfolk Southern Corporation (NSC). The values are adjusted to include any dividend payments, if applicable.

UNP vs. NSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UNP Union Pacific Corporation	5.43%	3.86%	-5.10%	21.61%	-15.93%	23.31%	17.64%	33.70%	5.26%	32.30%
NSC Norfolk Southern Corporation	-0.16%	25.65%	1.55%	-1.63%	-15.59%	27.26%	24.76%	32.39%	5.22%	36.85%

Fundamentals

Market Cap UNP : $143.99B NSC : $64.52B
EPS UNP : $12.02 NSC : $12.78
PE Ratio UNP : 20.18 NSC : 22.46
PEG Ratio UNP : 4.04 NSC : 3.41
PS Ratio UNP : 5.88 NSC : 5.30
PB Ratio UNP : 7.80 NSC : 4.15
Total Revenue (TTM) UNP : $24.51B NSC : $12.18B
Gross Profit (TTM) UNP : $14.55B NSC : $5.17B
EBITDA (TTM) UNP : $12.62B NSC : $5.85B

Returns By Period

In the year-to-date period, UNP achieves a 5.43% return, which is significantly higher than NSC's -0.16% return. Over the past 10 years, UNP has underperformed NSC with an annualized return of 14.40%, while NSC has yielded a comparatively higher 15.58% annualized return.

UNP

• 1D: 1.42%
• 1M: -8.44%
• YTD: 5.43%
• 6M: 3.78%
• 1Y: 5.12%
• 3Y*: 8.90%
• 5Y*: 4.28%
• 10Y*: 14.40%

NSC

• 1D: 1.65%
• 1M: -8.81%
• YTD: -0.16%
• 6M: -3.58%
• 1Y: 23.64%
• 3Y*: 13.15%
• 5Y*: 3.27%
• 10Y*: 15.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

UNP vs. NSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UNP

UNP Risk / Return Rank: 49
UNP Sharpe Ratio Rank: 51
UNP Sortino Ratio Rank: 43
UNP Omega Ratio Rank: 41
UNP Calmar Ratio Rank: 55
UNP Martin Ratio Rank: 55

NSC

NSC Risk / Return Rank: 76
NSC Sharpe Ratio Rank: 77
NSC Sortino Ratio Rank: 71
NSC Omega Ratio Rank: 72
NSC Calmar Ratio Rank: 78
NSC Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UNP vs. NSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Union Pacific Corporation (UNP) and Norfolk Southern Corporation (NSC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	UNP	NSC	Difference
Sharpe ratio Return per unit of total volatility	0.23	1.06	-0.83
Sortino ratio Return per unit of downside risk	0.48	1.61	-1.13
Omega ratio Gain probability vs. loss probability	1.06	1.22	-0.16
Calmar ratio Return relative to maximum drawdown	0.55	2.00	-1.45
Martin ratio Return relative to average drawdown	1.19	6.08	-4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UNP vs. NSC - Sharpe Ratio Comparison

The current UNP Sharpe Ratio is 0.23, which is lower than the NSC Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of UNP and NSC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UNP	NSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.23	1.06	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.13	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.57	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.42	0.00

Correlation

The correlation between UNP and NSC is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

UNP vs. NSC - Dividend Comparison

UNP's dividend yield for the trailing twelve months is around 2.26%, more than NSC's 1.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UNP Union Pacific Corporation	2.26%	2.35%	2.32%	2.12%	2.45%	1.70%	1.86%	2.05%	2.21%	1.85%	2.17%	2.81%
NSC Norfolk Southern Corporation	1.88%	1.87%	2.30%	2.28%	2.01%	1.40%	1.58%	1.85%	2.03%	1.68%	2.18%	2.79%

Drawdowns

UNP vs. NSC - Drawdown Comparison

The maximum UNP drawdown since its inception was -67.49%, roughly equal to the maximum NSC drawdown of -67.74%. Use the drawdown chart below to compare losses from any high point for UNP and NSC.

Drawdown Indicators

	UNP	NSC	Difference
Max Drawdown Largest peak-to-trough decline	-67.49%	-67.74%	+0.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-13.51%	+0.85%
Max Drawdown (5Y) Largest decline over 5 years	-31.83%	-35.64%	+3.81%
Max Drawdown (10Y) Largest decline over 10 years	-38.72%	-44.42%	+5.70%
Current Drawdown Current decline from peak	-9.12%	-9.70%	+0.58%
Average Drawdown Average peak-to-trough decline	-17.13%	-15.19%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.88%	4.44%	+1.44%

Volatility

UNP vs. NSC - Volatility Comparison

Union Pacific Corporation (UNP) and Norfolk Southern Corporation (NSC) have volatilities of 5.68% and 5.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UNP	NSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	5.69%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	14.16%	12.49%	+1.67%
Volatility (1Y) Calculated over the trailing 1-year period	22.82%	22.63%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.30%	24.71%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.19%	27.64%	-2.45%

Financials

UNP vs. NSC - Profitability Comparison

The chart below illustrates the profitability comparison between Union Pacific Corporation and Norfolk Southern Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

UNP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Union Pacific Corporation reported a gross profit of 6.09B and revenue of 6.09B. Therefore, the gross margin over that period was 100.0%.

NSC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported a gross profit of 2.10B and revenue of 2.97B. Therefore, the gross margin over that period was 70.5%.

UNP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Union Pacific Corporation reported an operating income of 2.40B and revenue of 6.09B, resulting in an operating margin of 39.5%.

NSC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported an operating income of 937.00M and revenue of 2.97B, resulting in an operating margin of 31.5%.

UNP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Union Pacific Corporation reported a net income of 1.85B and revenue of 6.09B, resulting in a net margin of 30.4%.

NSC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported a net income of 644.00M and revenue of 2.97B, resulting in a net margin of 21.7%.