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Canadian National Railway Company (CNI)
NYSE: CNI · Real-Time Price · USD
127.30
+1.49 (1.18%)
Aug 4, 2026, 4:00 PM EDT - Market closed

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
1,9261,9381,8921,8171,7291,695
Other Adjustments
-114-7618-8351762
Change in Receivables
-1419220571-290-22
Changes in Inventories
-34-24-6-18-82-7
Changes in Accounts Payable
320220-107-191-9141
Changes in Other Operating Activities
277179249496184203
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--22
Other Investing Activities
-2-55-58-20-3340
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
Long-Term Debt Issued
-1,9653,4832,5541,899403
Long-Term Debt Repaid
-1,127-446-1,038-250-383-861
Net Long-Term Debt Issued (Repaid)
-1,1271,5192,4452,3041,516-458
Issuance of Common Stock
735641496152
Repurchase of Common Stock
-3,025-2,129-2,707-4,634-4,882-1,672
Net Common Stock Issued (Repurchased)
-2,952-2,073-2,666-4,585-4,821-1,620
Common Dividends Paid
-2,207-2,208-2,138-2,071-2,004-1,740
Other Financing Activities
320-609-1,261946642-39
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%
FCF 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
2,6764,8945,3726,8465,7063,582
Unlevered Free Cash Flow
4,0223,6183,2274,6374,2483,479
SEC Filings: 10-K · 10-Q