Norfolk Southern NSC · USD
Industrials · Road & Rail · US listing · 🇺🇸 United States
S&P 500
325.82
+1.84%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$12.18bn
FY2016FY2025
Net income
$2.87bn
FY2016FY2025
Free cash flow
$2.16bn
FY2016FY2025
Shareholders' equity
$15.55bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.18bn | $12.12bn | $12.16bn | $12.74bn | $11.14bn | $9.79bn | $11.30bn | $11.46bn | $10.55bn | $9.89bn |
| Operating income | $4.01bn | $3.76bn | $2.85bn | $4.73bn | $4.37bn | $3.40bn | $3.89bn | $3.96bn | $3.52bn | $3.07bn |
| Net income | $2.87bn | $2.62bn | $1.83bn | $3.27bn | $3.00bn | $2.01bn | $2.72bn | $2.67bn | $5.40bn | $1.67bn |
| Diluted earnings per share | 12.78 | 11.58 | 8.07 | 14.17 | 12.34 | 7.90 | 10.41 | 9.75 | 18.78 | 5.68 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $45.24bn | $43.68bn | $41.65bn | $38.88bn | $38.49bn | $37.96bn | $37.92bn | $36.24bn | $35.71bn | $34.89bn |
| Cash and short-term investments | $1.53bn | $1.64bn | $1.57bn | $456.0m | $839.0m | $1.11bn | $580.0m | $358.0m | $690.0m | $956.0m |
| Total liabilities | $29.69bn | $29.38bn | $28.87bn | $26.15bn | $24.85bn | $23.17bn | $22.74bn | $20.88bn | $19.35bn | $22.48bn |
| Debt | $17.09bn | $17.21bn | $17.18bn | $15.18bn | $13.84bn | $12.68bn | $12.20bn | $11.14bn | $9.84bn | $10.21bn |
| Shareholders' equity | $15.55bn | $14.31bn | $12.78bn | $12.73bn | $13.64bn | $14.79bn | $15.18bn | $15.36bn | $16.36bn | $12.41bn |
| Shares outstanding | 225m | 227m | 226m | 231m | 244m | 255m | 262m | 274m | 288m | 294m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.36bn | $4.05bn | $3.18bn | $4.22bn | $4.25bn | $3.64bn | $3.89bn | $3.73bn | $3.25bn | $3.03bn |
| Capital spending | −$2.20bn | −$2.38bn | −$2.35bn | −$1.95bn | −$1.47bn | −$1.49bn | −$2.02bn | −$1.95bn | −$1.72bn | −$1.89bn |
| Free cash flow | $2.16bn | $1.67bn | $830.0m | $2.27bn | $2.79bn | $2.14bn | $1.87bn | $1.77bn | $1.53bn | $1.15bn |
| Dividends paid | −$1.22bn | −$1.22bn | −$1.23bn | −$1.17bn | −$1.03bn | −$960.0m | −$949.0m | −$844.0m | −$703.0m | −$695.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.46bn | $3.00bn | $2.97bn | $3.10bn | $3.11bn | $2.99bn | $3.02bn | $3.05bn |
| Operating income | $1.12bn | $877.0m | $937.0m | $1.12bn | $1.20bn | $1.14bn | $1.13bn | $1.46bn |
| Net income | $734.0m | $547.0m | $644.0m | $711.0m | $768.0m | $750.0m | $733.0m | $1.10bn |
| Diluted earnings per share | 3.26 | 2.43 | 2.86 | 3.16 | 3.42 | 3.34 | 3.24 | 4.85 |
| Cash from operations | $1.05bn | $344.0m | $1.06bn | $1.27bn | $1.08bn | $950.0m | $951.0m | $1.23bn |
| Capital spending | −$439.0m | −$382.0m | −$1.48bn | −$551.0m | −$475.0m | −$449.0m | −$675.0m | −$581.0m |
| Free cash flow | $615.0m | −$38.0m | −$412.0m | $720.0m | $602.0m | $501.0m | $276.0m | $645.0m |
| Total assets | $45.12bn | $45.11bn | $45.24bn | $44.58bn | $44.16bn | $43.80bn | $43.68bn | $43.26bn |
| Cash and short-term investments | $1.07bn | $1.34bn | $1.53bn | $1.42bn | $1.30bn | $1.01bn | $1.64bn | $975.0m |
| Debt | $16.62bn | $17.10bn | $17.09bn | $17.08bn | $17.37bn | $17.21bn | $17.29bn | $17.20bn |
| Shareholders' equity | $16.25bn | $15.80bn | $15.55bn | $15.14bn | $14.79bn | $14.51bn | $14.31bn | $13.79bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | 4.5% | 1.5% |
| Operating income | -5.4% | 3.4% | 3.4% |
| Net income | -4.2% | 7.4% | 6.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 32.0% | 31.2% | 33.0% | 32.7% |
| Net margin | 22.6% | 21.5% | 22.3% | 23.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.6 | 20.3 | 29.3 | 17.4 | 24.1 | 30.1 | 18.7 | 15.3 | 7.7 | 19.0 |
| Price to sales | 5.3 | 4.4 | 4.4 | 4.5 | 6.5 | 6.2 | 4.5 | 3.6 | 4.0 | 3.2 |
Market value over time
31 Oct 2016 to 11 Sept 2026, in USD
$27.25bn$72.09bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 23% | 2% | -5% | -12% | 22% | 18% | 33% | 1% | 34% | 32% |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 7 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.05 | 5.40 | 5.40 | 5.40 | 4.96 | 4.16 | 3.76 | 3.60 |
- 3-for-1 split · 10 Oct 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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