Norfolk Southern Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	12,180	12,123	12,156	12,745	11,142
Revenue Growth (YoY)	0.47%	-0.27%	-4.62%	14.39%	13.82%
Cost of Revenue	6,583	6,191	6,891	6,715	5,514
Gross Profit	5,597	5,932	5,265	6,030	5,628
Depreciation & Amortization Expenses	1,393	1,353	1,298	1,221	1,181
Other Operating Expenses	-174	530	1,116	-	-
Total Operating Expenses	1,219	1,883	2,414	1,221	1,181
Operating Income	4,356	4,071	2,851	4,809	4,447
Interest Expense	-792	-807	-722	-692	-646
Other Non-Operating Income (Expense)	101	65	191	13	77
Total Non-Operating Income (Expense)	-691	-742	-531	-679	-569
Pretax Income	3,665	3,329	2,320	4,130	3,878
Provision for Income Taxes	792	707	493	860	873
Net Income	2,873	2,622	1,827	3,270	3,005
Net Income to Common	2,873	2,622	1,827	3,270	3,005
Net Income Growth	9.57%	43.51%	-44.13%	8.82%	49.28%
Shares Outstanding (Basic)	225	226	227	235	247
Shares Outstanding (Diluted)	225	226	227	236	248
Shares Change (YoY)	-0.49%	-0.44%	-3.48%	-5.04%	-3.31%
EPS (Basic)	12.76	11.58	8.04	13.92	12.16
EPS (Diluted)	12.75	11.57	8.02	13.88	12.11
EPS Growth	10.20%	44.26%	-42.22%	14.62%	54.46%
Free Cash Flow	2,157	1,671	852	2,274	2,785
Free Cash Flow Growth	29.08%	96.13%	-62.53%	-18.35%	29.96%
Free Cash Flow Per Share	9.57	7.38	3.75	9.65	11.23
Dividends Per Share	5.400	5.400	5.400	4.960	4.160
Dividend Growth	-	-	8.87%	19.23%	10.64%
Gross Margin	45.95%	48.93%	43.31%	47.31%	50.51%
Operating Margin	35.76%	33.58%	23.45%	37.73%	39.91%
Profit Margin	23.59%	21.63%	15.03%	25.66%	26.97%
FCF Margin	17.71%	13.78%	7.01%	17.84%	25.00%
EBITDA	5,749	5,424	4,149	6,030	5,628
EBITDA Margin	47.20%	44.74%	34.13%	47.31%	50.51%
EBIT	4,356	4,071	2,851	4,809	4,447
EBIT Margin	35.76%	33.58%	23.45%	37.73%	39.91%
Effective Tax Rate	21.61%	21.24%	21.25%	20.82%	22.51%

Updated Jan 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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