What is Union Pacific's backlog?

Union Pacific reported $157M of remaining performance obligations at 31 Dec 2025, down 1% from a year earlier. That is 0.0 years of trailing revenue already under contract.

Union Pacific (UNP) backlog: remaining performance obligations

How much revenue Union Pacific already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Union Pacific competitor analysis

Union Pacific reported $157M of remaining performance obligations at 31 Dec 2025, down 1% from a year earlier. That is 0.0 years of trailing revenue already under contract.
Twelve-month book-to-bill: 1.00, i.e. 1.00 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -2 points — revenue is catching up with orders.
The latest filed figure is more than 200 days old.

Union Pacific backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Customer prepayments
31 Dec 2025	$157M	$24.5B	n/a
31 Dec 2024	$159M	$24.2B	n/a
31 Dec 2023	$149M	$24.1B	n/a
31 Dec 2022	$194M	$24.9B	n/a
31 Dec 2021	$169M	$21.8B	n/a
31 Dec 2020	$151M	$19.5B	n/a
31 Dec 2019	$127M	$21.7B	n/a
31 Dec 2018	$123M	$22.8B	n/a
30 Sep 2018	$151M	$22.5B	n/a
30 Jun 2018	$177M	$22.0B	n/a
31 Mar 2018	$161M	$21.6B	n/a

Questions

What is Union Pacific's backlog?: Union Pacific reported $157M of remaining performance obligations at 31 Dec 2025, down 1% from a year earlier. That is 0.0 years of trailing revenue already under contract.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.