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Canadian National Railway Company (CNI)
NYSE: CNI · Real-Time Price · USD
124.31
-1.22 (-0.97%)
At close: Oct 28, 2026, 4:00 PM EDT
123.69
-0.62 (-0.50%)
After-hours: Oct 28, 2026, 5:02 PM EDT

Canadian National Railway Cash Flow Statement

Millions CAD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
4,7824,7204,4485,6255,1184,899
Depreciation & Amortization
1,9261,9381,8921,8171,7291,598
Other Amortization
-----97
Loss (Gain) From Sale of Assets
-66-78-129--137
Other Operating Activities
236226189-295231367
Change in Accounts Receivable
-1419220571-290-22
Change in Inventory
-34-24-6-18-82-7
Change in Accounts Payable
320220-107-191-9141
Change in Other Net Operating Assets
-7-123-85-3035
Operating Cash Flow
7,0167,0496,6996,9656,6676,971
Operating Cash Flow Growth
5.06%5.22%-3.82%4.47%-4.36%13.07%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-3,468-3,658-3,549-3,187-2,750-2,891
Sale of Property, Plant & Equipment
84--129273-
Cash Acquisitions
----390--908
Other Investing Activities
-2-55-58-20-33926
Investing Cash Flow
-3,386-3,713-3,607-3,468-2,510-2,873

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Short-Term Debt Issued
---90856366
Long-Term Debt Issued
-1,9653,4832,5541,899403
Total Debt Issued
2,1711,9653,4833,4622,462469
Short-Term Debt Repaid
--612-1,381---
Long-Term Debt Repaid
--446-1,038-250-383-861
Total Debt Repaid
-1,046-1,058-2,419-250-383-861
Net Debt Issued (Repaid)
1,1259071,0643,2122,079-392
Issuance of Common Stock
735641496152
Repurchase of Common Stock
-3,025-2,129-2,707-4,634-4,882-1,672
Common Dividends Paid
-2,207-2,208-2,138-2,071-2,004-1,740
Other Financing Activities
5431203879-105
Financing Cash Flow
-3,980-3,371-3,620-3,406-4,667-3,857

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
4-35-13-
Net Cash Flow
-346-38-52390-507241

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
3,5483,3913,1503,7783,9174,080
Free Cash Flow Growth
9.71%7.65%-16.62%-3.55%-4.00%23.56%
Free Cash Flow Margin
19.98%19.60%18.48%22.45%22.90%28.18%
Free Cash Flow Per Share
5.775.444.965.735.695.74
Levered Free Cash Flow
3,0272,3822,5792,8583,1412,451
Unlevered Free Cash Flow
3,6122,9533,1363,3103,4832,736

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
998979926776542512
Cash Income Tax Paid
1,1209351,2211,1971,288759
Change in Working Capital
13816592-53-411147
SEC Filings: 10-K · 10-Q