Norfolk Southern Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	12,185	12,180	12,123	12,156	12,745	11,142
Revenue Growth (YoY)	0.60%	0.47%	-0.27%	-4.62%	14.39%	13.82%
Cost of Revenue	6,604	6,583	6,191	6,891	6,715	5,514
Gross Profit	5,581	5,597	5,932	5,265	6,030	5,628
Depreciation & Amortization Expenses	1,399	1,393	1,353	1,298	1,221	1,181
Other Operating Expenses	73	-174	530	1,116	-	-
Total Operating Expenses	1,472	1,219	1,883	2,414	1,221	1,181
Operating Income	4,087	4,356	4,071	2,851	4,809	4,447
Interest Expense	-790	-792	-807	-722	-692	-646
Other Non-Operating Income (Expense)	105	101	65	191	13	77
Total Non-Operating Income (Expense)	-685	-691	-742	-531	-679	-569
Pretax Income	3,402	3,665	3,329	2,320	4,130	3,878
Provision for Income Taxes	732	792	707	493	860	873
Net Income	1,902	2,873	2,622	1,827	3,270	3,005
Net Income to Common	1,902	2,873	2,622	1,827	3,270	3,005
Net Income Growth	-26.34%	9.57%	43.51%	-44.13%	8.82%	49.28%
Shares Outstanding (Basic)	225	225	226	227	235	247
Shares Outstanding (Diluted)	225	225	226	227	236	248
Shares Change (YoY)	-0.71%	-0.49%	-0.44%	-3.48%	-5.04%	-3.31%
EPS (Basic)	11.87	12.76	11.58	8.04	13.92	12.16
EPS (Diluted)	11.87	12.75	11.57	8.02	13.88	12.11
EPS Growth	-18.92%	10.20%	44.26%	-42.22%	14.62%	54.46%
Shares Outstanding	224.59	224.42	226.32	225.68	228.08	240.16
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	5.400	4.960	4.160
Dividend Growth	-	-	-	8.87%	19.23%	10.64%
Gross Margin	45.80%	45.95%	48.93%	43.31%	47.31%	50.51%
Operating Margin	33.54%	35.76%	33.58%	23.45%	37.73%	39.91%
Profit Margin	15.61%	23.59%	21.63%	15.03%	25.66%	26.97%
FCF Margin	-	17.71%	13.78%	7.01%	17.84%	25.00%
EBITDA	4,087	5,749	5,424	4,149	6,030	5,628
EBITDA Margin	33.54%	47.20%	44.74%	34.13%	47.31%	50.51%
EBIT	4,087	4,356	4,071	2,851	4,809	4,447
EBIT Margin	33.54%	35.76%	33.58%	23.45%	37.73%	39.91%
Effective Tax Rate	21.52%	21.61%	21.24%	21.25%	20.82%	22.51%

Updated Apr 24, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q