NSC · Norfolk Southern Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.00B | - | $3.10B | $3.11B | $2.99B | - | $3.05B | $3.04B | $3.00B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $2.12B | - | $2.00B | $1.94B | $1.85B | - | $1.46B | $1.91B | $2.79B | - |
| D&A | $352.00M | - | $348.00M | $346.00M | $346.00M | - | $339.00M | $335.00M | $337.00M | - |
| Operating Income | $877.00M | - | $1.10B | $1.18B | $1.15B | - | $1.60B | $1.13B | $213.00M | - |
| Interest Expense | $197.00M | - | $197.00M | $204.00M | $201.00M | - | $203.00M | $170.00M | $201.00M | - |
| Income Tax | $168.00M | - | $213.00M | $230.00M | $228.00M | - | $328.00M | $207.00M | ($23.00M) | - |
| Net Income | $547.00M | - | $711.00M | $768.00M | $750.00M | - | $1.10B | $737.00M | $53.00M | - |
| EPS - Basic | $2.43 | - | $3.16 | $3.41 | $3.31 | - | $4.86 | $3.26 | $0.23 | - |
| EPS - Diluted | $2.43 | - | $3.16 | $3.41 | $3.31 | - | $4.85 | $3.25 | $0.23 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.34B | $1.53B | $1.42B | $1.30B | $1.01B | $1.64B | $975.00M | $659.00M | $652.00M | $1.57B |
| Accounts Receivable | $1.12B | $988.00M | $1.10B | $1.12B | $1.23B | $1.07B | $1.30B | $1.19B | $1.20B | $1.15B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.70B | $1.86B | $1.66B | $1.50B | $1.45B | $1.70B | $1.61B | $1.53B | $1.51B | $1.64B |
| Current Assets | $3.02B | $3.20B | $3.04B | $2.91B | $2.70B | $3.19B | $2.69B | $2.30B | $2.36B | $3.27B |
| Total Assets | $45.11B | $45.24B | $44.58B | $44.16B | $43.80B | $43.68B | $43.26B | $42.56B | $42.13B | $41.65B |
| Current Liabilities | $3.33B | $3.77B | $3.52B | $3.67B | $3.45B | $3.54B | $3.68B | $3.67B | $3.45B | $2.63B |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $29.31B | $29.69B | $29.44B | $29.37B | $29.29B | $29.38B | $29.47B | $29.58B | $29.59B | $28.87B |
| Stockholders' Equity | $15.80B | $15.55B | $15.14B | $14.79B | $14.51B | $14.31B | $13.79B | $12.98B | $12.54B | $12.78B |
| Retained Earnings | $13.48B | $13.23B | $12.89B | $12.56B | $12.30B | $12.09B | $11.67B | $10.87B | $10.44B | $10.70B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $344.00M | - | - | - | $950.00M | - | - | - | $839.00M | - |
| Investing Cash Flow | ($213.00M) | - | - | - | ($1.02B) | - | - | - | ($1.84B) | - |
| Financing Cash Flow | ($320.00M) | - | - | - | ($564.00M) | - | - | - | $89.00M | - |
| CapEx | $382.00M | - | - | - | $449.00M | - | - | - | $557.00M | - |
| Free Cash Flow | ($38.00M) | - | - | - | $501.00M | - | - | - | $282.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 29.3% | - | 35.4% | 37.8% | 38.3% | - | 52.3% | 37.2% | 7.1% | - |
| EBITDA margin | 41.0% | - | 46.6% | 48.9% | 49.8% | - | 63.4% | 48.2% | 18.3% | - |
| Net margin | 18.2% | - | 22.9% | 24.7% | 25.1% | - | 36.0% | 24.2% | 1.8% | - |
| Free cash flow margin | -1.3% | - | - | - | 16.7% | - | - | - | 9.4% | - |
| FCF / Net income | -0.07 | - | - | - | 0.67 | - | - | - | 5.32 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 23.5% | - | 23.1% | 23.0% | 23.3% | - | 23.0% | 21.9% | -76.7% | - |
| Return on assets | 1.2% | - | 1.6% | 1.7% | 1.7% | - | 2.5% | 1.7% | 0.1% | - |
| Return on equity | 3.5% | - | 4.7% | 5.2% | 5.2% | - | 8.0% | 5.7% | 0.4% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.91 | 0.85 | 0.86 | 0.79 | 0.78 | 0.90 | 0.73 | 0.63 | 0.68 | 1.24 |
| Quick ratio | 0.91 | 0.85 | 0.86 | 0.79 | 0.78 | 0.90 | 0.73 | 0.63 | 0.68 | 1.24 |
| Cash ratio | 0.40 | 0.41 | 0.40 | 0.36 | 0.29 | 0.46 | 0.27 | 0.18 | 0.19 | 0.60 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 4.5x | - | 5.6x | 5.8x | 5.7x | - | 7.9x | 6.7x | 1.1x | - |
| Equity multiplier | 2.85 | 2.91 | 2.94 | 2.99 | 3.02 | 3.05 | 3.14 | 3.28 | 3.36 | 3.26 |
| Liabilities / Assets | 0.65 | 0.66 | 0.66 | 0.67 | 0.67 | 0.67 | 0.68 | 0.70 | 0.70 | 0.69 |
| Efficiency | ||||||||||
| Asset turnover | 0.07 | - | 0.07 | 0.07 | 0.07 | - | 0.07 | 0.07 | 0.07 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 137d | - | 130d | 132d | 150d | - | 156d | 143d | 146d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 118.1x | - | 95.1x | 75.1x | 71.6x | - | 51.2x | 66.1x | 1108.1x | - |
| P / B | 4.1x | - | 4.5x | 3.9x | 3.7x | - | 4.1x | 3.7x | 4.6x | - |
| P / S | 21.5x | - | 21.8x | 18.5x | 17.9x | - | 18.4x | 16.0x | 19.2x | - |
| EV / EBITDA | 51.5x | - | 45.7x | 37.0x | 35.3x | - | 28.6x | 32.7x | 103.6x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.2% | - | 1.7% | 2.2% | -0.4% | - | 2.7% | 2.1% | -4.1% | - |
| Revenue CAGR (3y) | -1.4% | - | -2.5% | -1.5% | 0.9% | - | 2.3% | 2.8% | 4.4% | - |
| Revenue CAGR (5y) | 2.6% | - | 4.4% | 8.3% | 2.7% | - | 1.4% | 0.8% | 1.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -23.5% | - | -31.2% | 3.9% | 438.0% | - | 111.1% | 96.4% | -70.0% | - |
| Net income growth (YoY) | -27.1% | - | -35.3% | 4.2% | 1315.1% | - | 129.9% | 107.0% | -88.6% | - |
| EPS growth (YoY) | -26.6% | - | -34.8% | 4.9% | 1339.1% | - | 131.0% | 108.3% | -88.7% | - |
| EPS CAGR (3y) | 6.0% | - | -8.3% | -0.4% | 4.1% | - | 16.6% | -0.3% | -55.8% | - |
| EPS CAGR (5y) | -1.8% | - | 7.3% | 17.4% | 17.6% | - | 14.3% | 3.8% | -38.0% | - |
| FCF growth (YoY) | - | - | - | - | 77.7% | - | - | - | -62.1% | - |
| FCF CAGR (5y) | - | - | - | - | -3.2% | - | - | - | -7.4% | - |
| Book value growth (YoY) | 8.9% | 8.7% | 9.8% | 13.9% | 15.8% | 11.9% | 9.3% | 2.7% | -1.5% | 0.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$24.36B totalReportable Segment$12.18B · 50.0%
Railway Operating Revenues Market Group Merchandise$7.68B · 31.5%
Railway Operating Revenues Market Group Intermodal$3.01B · 12.4%
Railway Operating Revenues Market Group Coal$1.49B · 6.1%
Product / service
$7.68B totalAgricultural Forest And Consumer$2.54B · 33.0%
Chemicals$2.21B · 28.7%
Metals And Construction$1.72B · 22.4%
Automotive$1.22B · 15.8%
Peer comparison
Same SIC group: Railroads, Line-Haul Operating
Comparing NORFOLK SOUTHERN CORP against the 3 most active filers in the same SIC group.
Dividends
$5.40/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| May 8, 2026 | $1.3500 |
| Feb 6, 2026 | $1.3500 |
| Nov 7, 2025 | $1.3500 |
| Aug 1, 2025 | $1.3500 |
| May 2, 2025 | $1.3500 |
| Feb 7, 2025 | $1.3500 |
| Nov 1, 2024 | $1.3500 |
| Aug 2, 2024 | $1.3500 |
| May 2, 2024 | $1.3500 |
| Feb 1, 2024 | $1.3500 |
| Nov 2, 2023 | $1.3500 |
| Aug 3, 2023 | $1.3500 |
| May 4, 2023 | $1.3500 |
| Feb 2, 2023 | $1.3500 |
| Nov 3, 2022 | $1.2400 |
| Aug 5, 2022 | $1.2400 |
| May 5, 2022 | $1.2400 |
| Feb 3, 2022 | $1.2400 |
| Nov 4, 2021 | $1.0900 |
| Aug 6, 2021 | $1.0900 |
| May 6, 2021 | $0.9900 |
| Feb 4, 2021 | $0.9900 |
| Nov 5, 2020 | $0.9400 |
| Aug 6, 2020 | $0.9400 |