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STOCK COMPARISON

Canadian National Railway vs Union Pacific: Fair Value & Quality

Both stocks run through our valuation models. Here is how Canadian National Railway (CNI) and Union Pacific (UNP) compare, as of Aug 8, 2026.

As of Aug 8, 2026, Fair Value Calculator sees Canadian National Railway as the less overvalued of the two: Canadian National Railway trades at $126 versus a fair value of $92.63 (-27%), while Union Pacific trades at $295 versus $145 (-51%).
Canadian National Railway
CNI · USD · Industrials
-27%
upside to fair value
overvalued
Price$126
Fair Value$92.63
Quality73/100
Union Pacific
UNP · USD · Industrials
-51%
upside to fair value
overvalued
Price$295
Fair Value$145
Quality72/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Canadian National RailwayUnion Pacific
Valuation
23.6×P/E (TTM)24.6×
4.43×P/S (TTM)7.25×
3.55×P/B9.70×
10.7×EV/EBITDA16.5×
2.94×PEG3.64×
2.9%Dividend yield1.8%
$3.58Dividend per share$5.48
Profitability
27%Net margin29%
38%Operating margin40%
22%Return on equity41%
8%Return on assets9%
Growth
-1%Revenue growth (YoY)3%
0.4%Avg. growth/yr (3Y)-0.5%
4.6%Avg. growth/yr (5Y)4.6%
Balance & size
0.94×Debt / equity1.64×
$76BMarket cap$179B
expensiveGrowth qualityhealthy

Canadian National Railway leads: 8 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Canadian National Railwayof which business quality 61 · market factors 77 Union Pacificof which business quality 63 · market factors 74
ProfitabilityMargins and returns on capital today
54
64
Quality GrowthAre margins and returns improving?
57
57
CashflowEarnings quality: real cash, not paper profit
68
71
Fin. StrengthBalance sheet, leverage, solvency risk
43
40
InvestmentDisciplined investing over empire-building
58
47
Low VolatilityCalm price path (market factor)
73
74
MomentumPrice trend over the last 3–12 months (market factor)
74
69
52W MomentumDistance to the 52-week high (market factor)
86
84
Net IssuanceBuybacks instead of dilution
99
100

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Canadian National Railway

DCF Models$72.79
Earnings-Based$59.43
Dividend Discount$58.67
Multiples$128
Asset-Based$23.80
Growth DCF$51.03
Economic Profit$65.62
Growth Earnings$130

19 of 25 models see the stock below the current price.

Union Pacific

DCF Models$119
Earnings-Based$97.30
Multiples$162
Asset-Based$20.84
Growth DCF$80.61
Economic Profit$121
Growth Earnings$195

23 of 23 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Canadian National Railway
Bear $49.49Fair Value $92.63Bull $177
$126 = current price (white tick)
Union Pacific
Bear $89.73Fair Value $145Bull $266
$295 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Canadian National Railway · Industrials

Quality score73 · Top 25%
Fair value upside-27% · below median

Union Pacific · Industrials

Quality score72 · Top 25%
Fair value upside-51% · below median

Bottom line

As of Aug 8, 2026, Fair Value Calculator sees Canadian National Railway as the less overvalued of the two: Canadian National Railway trades at $126 versus a fair value of $92.63 (-27%), while Union Pacific trades at $295 versus $145 (-51%).

Canadian National Railway has the higher quality score (73/100).

See the full analysis →
Canadian National Railway · Union Pacific

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.