Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Union Pacific Corporation (UNP) Halal?

PASS

Union Pacific Corporation · NYSE: UNP · Industrials

The short answer

Yes — Union Pacific (UNP) passes this Shariah stock screen. It is a pure freight railroad: a Class I railroad with 32,889 route miles serving the western two-thirds of the United States through three commodity groups — Bulk (33%), Industrial (37%) and Premium (30%) — with no identified alcohol, tobacco, weapons/defense, gambling, pork, or financial-services segments in its 10-K business description. The financial ratios pass comfortably: total debt of $31,814M is about 19.66% of its ~$161.81B market cap ($272.42, October 1, 2026), below the ~33% ceiling, and interest income of $56M is about 0.23% of FY2025 revenue ($24,510M), below the 5% ceiling. Note: Union Pacific agreed in July 2025 to acquire Norfolk Southern, subject to Surface Transportation Board review; UNP remains NYSE-listed. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Union Pacific Corporation (NYSE: UNP), headquartered in Omaha, Nebraska, is one of the largest U.S. freight railroads, operating through its principal subsidiary Union Pacific Railroad Company (UPRR) — a Class I railroad with 32,889 route miles serving the western two-thirds of the United States (roots to the Pacific Railway Act of 1862). It reports one rail segment with three freight commodity groups (FY2025): Bulk ($7,586M, 33% — grain and grain products, fertilizer, food and refrigerated, coal and renewables), Industrial ($8,604M, 37% — construction, industrial chemicals, plastics, forest products, metals and ores, petroleum, LPG, soda ash, sand), and Premium ($7,030M, 30% — finished automobiles, automotive parts, intermodal containers, domestic and international). Business-screen implication (factual): a pure freight railroad — no alcohol, tobacco, weapons/defense, gambling, pork, or financial-services segments were identified in the 10-K business description. Coal is carried (Powder River Basin shipments are the largest portion of its coal business) but coal is not on this screener's haram list. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Union Pacific's FY2025 Form 10-K (filed February 6, 2026; SEC CIK 100885), total debt was $31,814M — Debt due within one year $1,520M + Debt due after one year $30,294M. Against a market cap of about $161.81B (593,957,035 shares outstanding per the Q2 2026 10-Q × $272.42, October 1, 2026), debt ÷ market cap is about 19.66% — below the ~33% ceiling. Cash and cash equivalents of $1,266M (plus $250M short-term investments) is about 0.78% of market cap. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

Union Pacific's FY2025 10-K (Note 6, Other Income) reports interest income of $56M against FY2025 total operating revenues of $24,510M — about 0.23% of revenue, below the 5% non-compliant income ceiling. Note: other income, net was $629M, but it is dominated by real estate income of $558M (including $250M of industrial park land sales) plus pension and remediation items — property sales, not interest or a finance business. The screen uses the verifiable interest-income line: $56M. The income gate passes. Facts only.

Key figures used

Frequently asked questions

What does Union Pacific do?

Union Pacific Corporation, headquartered in Omaha, Nebraska, is one of the largest U.S. freight railroads, operating through its principal subsidiary Union Pacific Railroad Company (UPRR). UPRR is a Class I railroad with 32,889 route miles serving the western two-thirds of the United States, connecting Pacific Coast and Gulf Coast ports with the Midwest and Eastern U.S. gateways and corridors to key Mexican and Canadian gateways. Its roots trace to the Pacific Railway Act of 1862. It reports one rail segment with three freight commodity groups (FY2025): Bulk ($7,586M, 33% — grain and grain products, fertilizer, food and refrigerated, coal and renewables), Industrial ($8,604M, 37% — construction, industrial chemicals, plastics, forest products, metals and ores, petroleum, LPG, soda ash, sand), and Premium ($7,030M, 30% — finished automobiles, automotive parts, intermodal containers). It employs about 29,287 people (average 2025).

Why does Union Pacific pass this Shariah stock screen?

Union Pacific passes all three gates. Gate 1 (business activity): it is a pure freight railroad — bulk, industrial and premium rail freight plus intermodal and automotive transport, with no identified alcohol, tobacco, weapons/defense, gambling, pork, or financial-services segments. Coal is carried (Powder River Basin is the largest portion of its coal business) but coal is not on this screener's haram list. Gate 2 (debt): total debt of $31,814M is about 19.66% of its ~$161.81B market cap — below the ~33% ceiling. Gate 3 (non-compliant income): interest income of $56M is about 0.23% of FY2025 revenue ($24,510M) — below the 5% ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is Union Pacific's interest-bearing debt ratio?

Per Union Pacific's FY2025 Form 10-K (filed February 6, 2026; SEC CIK 100885), total debt was $31,814M — Debt due within one year $1,520M + Debt due after one year $30,294M. Against a market cap of about $161.81B (593,957,035 shares outstanding per the Q2 2026 10-Q × $272.42, October 1, 2026), debt ÷ market cap is about 19.66% — below the ~33% ceiling. Cash and cash equivalents of $1,266M (plus $250M short-term investments) is about 0.78% of market cap. The debt gate passes. Facts only.

What is Union Pacific's non-compliant income ratio?

Union Pacific's FY2025 10-K (Note 6, Other Income) reports interest income of $56M against FY2025 total operating revenues of $24,510M — about 0.23% of revenue, below the 5% non-compliant income ceiling. Note: the same note shows other income, net of $629M, but that is dominated by real estate income of $558M (including $250M of industrial park land sales) plus pension and remediation items — property/land sales, not interest or a finance business. The screen uses the verifiable interest-income line: $56M. The income gate passes. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover Union Pacific?

Zoya covers UNP — a public page exists (zoya.finance/stocks/unp, last updated September 2026) — but its auto-generated text is self-contradictory, simultaneously calling UNP "Shariah-compliant and therefore considered halal" and "Shariah-compliant and therefore not considered halal," plus a "flagged … require careful consideration" variant, so no clean Zoya rating is retrievable without the app — honestly reported as inconclusive. Zoya's page cites interest income of $16M (0.07%); this page uses the $56M figure from the 10-K's Note 6 directly. Musaffa: no UNP page surfaced in search — absent. ShariaPortfolio: no UNP entry found — absent. All honestly reported, none invented. This page applies the screen directly from Union Pacific's own SEC filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).