Norfolk Southern Corporation (NSC)

Norfolk Southern Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	12,963	12,180	12,123	12,156	12,745	11,142
Revenue Growth	5.99%	0.47%	-0.27%	-4.62%	14.39%	13.82%
Gross Profit Gross Profit Growth	5,792	5,597	5,932	5,265	6,030	5,730
Operating Income Operating Income Growth	4,366	4,204	4,579	3,967	4,809	4,549
Net Income Net Income Growth	2,681	2,870	2,619	1,824	3,268	3,003
Earnings Per Share EPS Growth	11.92	12.75	11.57	8.02	13.88	12.11
EPS Growth	-9.05%	10.15%	44.30%	-42.20%	14.56%	54.55%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Agriculture, Forest and Consumer Product Agriculture, Forest and Consumer Product Growth	2,621	2,538	2,521	2,530	2,493	2,251
Chemical Chemical Growth	2,427	2,206	2,123	2,054	2,148	1,951
Metals and Construction Metals and Construction Growth	1,813	1,724	1,682	1,634	1,652	1,562
Automotive Automotive Growth	1,225	1,216	1,144	1,135	1,038	905
Intermodal Intermodal Growth	3,323	3,009	3,042	3,090	3,681	3,163
Coal Coal Growth	1,554	1,487	1,611	1,713	1,733	1,310
Revenue (Total) Revenue (Total) Growth	12,963	12,180	12,123	12,156	12,745	11,142

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	1,598	1,530	1,641	1,568	456	839
Total Debt Total Debt Growth	17,147	17,839	18,012	18,105	16,126	14,787
Net Cash (Debt) Net Cash Growth	-15,549	-16,309	-16,371	-16,537	-15,670	-13,948
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-69.11	-72.39	-72.31	-72.72	-66.51	-56.22

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	3,783	4,361	4,052	3,179	4,222	4,255
Capital Expenditures CapEx Growth	-2,136	-2,204	-4,024	-2,349	-1,948	-1,470
Free Cash Flow Free Cash Flow Growth	1,647	2,157	28	830	2,274	2,785
Free Cash Flow Growth	-21.53%	7603.57%	-96.63%	-63.50%	-18.35%	29.96%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	44.68%	45.95%	48.93%	43.31%	47.31%	51.43%
Operating Margin	33.68%	34.52%	37.77%	32.63%	37.73%	40.83%
Pretax Margin	26.43%	30.09%	27.46%	19.09%	32.40%	34.81%
Profit Margin	20.68%	23.56%	21.60%	15.00%	25.64%	26.95%
FCF Margin	12.71%	17.71%	0.23%	6.83%	17.84%	25.00%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 25, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	5.400	5.400	5.400	5.400	4.960	4.160
Dividend Per Share Growth	0%	0%	0%	8.87%	19.23%	10.64%
Dividend Yield	1.64%	1.87%	2.30%	2.28%	1.89%	1.38%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 25, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	27.67	22.57	20.27	29.26	18.35	24.13
Forward PE	23.22	22.95	17.97	19.00	17.49	22.29
P/FCF Ratio	45.00	30.04	1896.37	64.29	26.37	26.01
PS Ratio	5.72	5.32	4.38	4.39	4.71	6.50

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Oct 22, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Oct 25, 2026

Data Sources Report a data error