• Union Pacific average pre-tax profit margin for 2023 was 34.91%, a 7.35% increase from 2022.
• Union Pacific average pre-tax profit margin for 2022 was 37.68%, a 0.99% decline from 2021.
• Union Pacific average pre-tax profit margin for 2021 was 37.31%, a 3.27% increase from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.