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Canadian National Railway Company (CNI)
NYSE: CNI · Real-Time Price · USD
124.06
-2.43 (-1.92%)
At close: Nov 6, 2026, 4:00 PM EST
124.00
-0.06 (-0.05%)
After-hours: Nov 6, 2026, 7:37 PM EST

Canadian National Railway Cash Flow Statement

Millions CAD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Net Income
1,2091,2491,1461,2481,1391,1721,1611,1461,0851,1141,1032,1301,1081,1671,2201,4201,4551,3259181,201
Depreciation & Amortization
496486484456500489493489475466462463457449448451435423420383
Loss (Gain) From Sale of Assets
---66------78--129--------
Asset Writedown & Restructuring Costs
118-------------------
Other Operating Activities
213-4520969-17-357895439-4898145686211786-3480
Change in Accounts Receivable
-57-65-125132-83131-88132-591-13-18-55165-21126-132-29-255135
Change in Inventory
-19-28-924343-22-881759-3-794483-731139-65-6730
Change in Accounts Payable
80-42-20149233-25-1371811-17-272342-81105-557272140-52-369281
Change in Other Net Operating Assets
568-17-101217-142237030-12370-651-30-705825-43-24
Operating Cash Flow
1,9041,6111,2652,2271,9131,7451,1641,9951,7741,8131,1172,4131,5121,9851,0552,2722,1121,7135702,086
Operating Cash Flow Growth (YoY)
-0.47%-7.68%8.68%11.63%7.83%-3.75%4.21%-17.32%17.33%-8.67%5.88%6.21%-28.41%15.88%85.09%8.92%-14.08%16.14%-40.13%3.88%

Investing Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Capital Expenditures
-805-695-439-1,229-1,105-805-519-944-1,176-853-576-934-917-875-461-920-744-707-379-914
Sale of Property, Plant & Equipment
--84--------129----273--273-
Cash Acquisitions
------------390--------
Other Investing Activities
-2326-10-3-15-18-19-19-14-13-125-14-10-1256-12-9554
Investing Cash Flow
-828-669-365-1,232-1,120-823-538-963-1,190-866-588-1,190-931-885-462-937-756-716-101-860

Financing Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Short-Term Debt Issued
780-1,486-719-----458-1,073-1,228--6861,020-
Long-Term Debt Issued
-1,016---995--1,0111,245861--1,730--1,899---
Total Debt Issued
7801,0161,486944719995-3661,0111,2451,3194201,0731,7301,2285631,8996861,020-1,014
Short-Term Debt Repaid
--1,301----588-105--675-539----989---1,745---
Long-Term Debt Repaid
-196-25-705--371-25-24--17-137-374--11-215-12--10-12-17-
Total Debt Repaid
-196-1,326-705-638-371-613-129-1,135-692-676-374-12-11-1,204-12-305-1,755-12-17-19
Net Debt Issued (Repaid)
584-310781306348382-129-7693195699454081,0625261,2162581446741,003-1,033
Issuance of Common Stock
22223910253936824162181321562911
Repurchase of Common Stock
-649-466-903-614-1,042-305-168-158-447-1,099-1,003-1,172-1,203-1,056-1,203-1,210-1,173-1,212-1,287-1,108
Common Dividends Paid
-552-554-558-545-550-556-557-531-532-535-540-509-515-521-526-493-498-504-509-433
Other Financing Activities
-1772-37-1433-4832122-1532-191723-1210184913-1-9
Financing Cash Flow
-612-1,236-678-857-1,209-522-783-1,333-669-1,025-593-1,240-631-1,045-490-1,406-1,473-1,023-765-2,572

Net Cash Flow

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Foreign Exchange Rate Adjustments
-12--12-4-4-111-12-2--131--
Miscellaneous Cash Flow Adjustments
--1-----------------
Net Cash Flow
463-292223137-414396-157-297-86-77-63-18-4853103-72-114-25-296-1,346

Free Cash Flow

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Free Cash Flow
1,0999168269988089406451,0515989605411,4795951,1105941,3521,3681,0061911,172
Free Cash Flow Growth (YoY)
36.02%-2.55%28.06%-5.04%35.12%-2.08%19.22%-28.94%0.50%-13.51%-8.92%9.39%-56.51%10.34%211.00%15.36%-15.66%34.85%-64.63%1.65%
Free Cash Flow Margin
23.04%19.27%18.86%22.36%19.40%22.00%14.65%24.12%14.55%22.18%12.73%33.08%14.92%27.36%13.77%29.77%30.31%23.16%5.15%31.23%
Free Cash Flow Per Share
1.821.511.351.621.301.501.031.670.951.510.842.280.911.670.892.002.001.450.271.66
Levered Free Cash Flow
385747.63659657.63956319.63442.751,208321.38716.25333.631,230268.13755.88604636.881,2696346011,224
Unlevered Free Cash Flow
538.13898.25805.25810.131,098456.5588.381,352465.13853.75464.881,355383.75864707.13732.51,357714679.751,302

Additional Metrics

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Cash Interest Paid
2762272762162791922922102651882631542561152511031828617179
Cash Income Tax Paid
397389273227231265212288262301370210279284424334264370320177
Change in Working Capital
60-127-254314205101-455353125101-487438-134324-681339105-121-734422
SEC Filings: 10-K · 10-Q