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Norfolk Southern NSC

US equityMarket cap rank #237Infrastructure
$314.27
−$0.74 (-0.23%)
Market open · Sep 24, 2:00 pm ET
After hours $320.00 +1.58%
Open$315.13
Prev close$315.01
Day range$313.68 – $316.84
Volume211.2K
Market cap$70.59B
P/E (TTM)26.8
Dividend yield1.72%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$3.47B+11.4% YoY
Operating profit$1.27B+2.8% YoY
Net profit$734.00M-4.4% YoY
Diluted EPS$3.26-4.4% YoY
Free cash flow$615.00M+2.2% YoY
Operating cash flow$1.05B

Revenue, last 8 quarters

$3.1BSep '24$3.0BDec '24$3.0BMar '25$3.1BJun '25$3.1BSep '25$3.0BDec '25$3.0BMar '26$3.5BJun '26

Net profit, last 8 quarters

$1.1BSep '24$733.0MDec '24$750.0MMar '25$768.0MJun '25$711.0MSep '25$644.0MDec '25$547.0MMar '26$734.0MJun '26

Diluted EPS by quarter

4.85Sep '243.23Dec '243.31Mar '253.41Jun '253.16Sep '252.87Dec '252.43Mar '263.26Jun '26

Free cash flow by quarter

$645.0MSep '24$276.0MDec '24$501.0MMar '25$602.0MJun '25$720.0MSep '25$334.0MDec '25$-38.0MMar '26$615.0MJun '26

Annual revenue

$9.8BFY20$11.1BFY21$12.7BFY22$12.2BFY23$12.1BFY24$12.2BFY25

Profitability & balance sheet

Gross margin35.5%
Operating margin36.4%
Net margin21.0%
Return on equity17.0%
Return on assets5.9%
Return on invested capital10.0%
Current ratio0.83
Liabilities / assets64.0%
Cash & investments$1.07B
Total debt$16.62B
Net cash (debt)-$15.55B
Free cash flow / sales13.0%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Intermodal$908.00M 26.2%
  • Agriculture, forest and consumer products$673.00M 19.4%
  • Chemicals$646.00M 18.6%
  • Metals and construction$480.00M 13.9%
  • Coal$424.00M 12.2%
  • Automotive$334.00M 9.6%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $3.47B $3.00B $12.18B $2.97B $3.10B
Total Operating Revenue $3.47B $3.00B $12.18B $2.97B $3.10B
Cost of Revenue $2.17B $1.96B $7.75B $2.01B $1.95B
Gross Profit $1.30B $1.03B $4.43B $969.00M $1.16B
Operating Expense $29.00M $42.00M -$144.00M -$189.00M -$32.00M
Other Operating Expenses $29.00M $42.00M -$58.00M -$103.00M -$32.00M
Operating Profit $1.27B $992.00M $4.57B $1.16B $1.19B
Net Non-Operating Interest Income (Expense) -$197.00M -$197.00M -$792.00M -$195.00M -$197.00M
Non-Operating Interest Expense $197.00M $197.00M $792.00M $195.00M $197.00M
Other Income (Expense) -$110.00M -$80.00M -$114.00M -$198.00M -$68.00M
Special Income (Charges) -$142.00M -$115.00M -$109.00M -$115.00M -$91.00M
-Less:Restructuring and Mergern & Acquisition $57.00M $52.00M $102.00M $65.00M $27.00M
-Less:Other Special Charges $84.00M $63.00M $7.00M $50.00M $64.00M
-Gain on Sale of Property/Plant/Equipment -$1.00M – – – –
Other Non-Operating Income (Expenses) $32.00M $35.00M -$5.00M -$83.00M $23.00M
Pretax Profit $959.00M $715.00M $3.67B $765.00M $924.00M
Tax $225.00M $168.00M $792.00M $121.00M $213.00M
Net Profit $734.00M $547.00M $2.87B $644.00M $711.00M
Profit from Continuing Operations $734.00M $547.00M $2.87B $644.00M $711.00M
Net Income to Parent Company $734.00M $547.00M $2.87B $644.00M $711.00M
Preferred Stock Dividends $1.00M $1.00M – – –
Net Income to Common Stockholders $733.00M $546.00M $2.87B $643.00M $711.00M
Basic EPS $3.26 $2.43 $12.76 $2.87 $3.16
Diluted EPS $3.26 $2.43 $12.75 $2.87 $3.16
Dividend Per Share $1.35 $1.35 $5.40 $1.35 $1.35
Selling and Admin Expenses – – -$86.00M – –
-General & Admin Expense – – -$86.00M – –
Other Preferred Stock Dividends – – $3.00M – –

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $45.12B $45.11B $45.24B $45.24B $44.58B
Total Current Assets $2.80B $3.02B $3.20B $3.20B $3.04B
Cash and Cash Equivalents & Short-Term Investments $1.07B $1.34B $1.53B $1.53B $1.42B
-Cash and Cash Equivalents $1.07B $1.34B $1.53B $1.53B $1.42B
Receivables $1.18B $1.12B $988.00M $988.00M $1.10B
-Accounts Receivable $886.00M $828.00M $715.00M $715.00M $779.00M
-Other Receivables $291.00M $295.00M $273.00M $273.00M $323.00M
Inventory $327.00M $312.00M $271.00M $271.00M $297.00M
Other Current Assets $228.00M $248.00M $409.00M $409.00M $219.00M
Total Non-Current Assets $42.32B $42.09B $42.04B $42.04B $41.54B
Net PPE $36.63B $36.44B $36.48B $36.48B $36.11B
-Gross PPE $51.66B $51.21B $51.10B $51.10B $50.55B
-Accumulated Depreciation -$15.03B -$14.77B -$14.62B -$14.62B -$14.44B
Investments and Advances $4.16B $4.12B $4.09B $4.09B $4.08B
Other Non-Current Assets $1.54B $1.53B $1.47B $1.47B $1.35B
Total Liabilities $28.87B $29.31B $29.69B $29.69B $29.44B
Total Current Liabilities $3.37B $3.34B $3.78B $3.78B $3.52B
Payables $2.00B $2.02B $1.84B $1.84B $1.88B
-Accounts Payable $1.78B $1.70B $1.08B $1.08B $1.66B
-Total Tax Payable $218.00M $320.00M $340.00M $340.00M $227.00M
Short-Term Debt and Capital Lease Obligation $649.00M $609.00M $677.00M $677.00M $607.00M
-Current Debt $649.00M $609.00M $607.00M $607.00M $607.00M
Other Current Liabilities $720.00M $711.00M $888.00M $888.00M $1.03B
Total Non-Current Liabilities $25.50B $25.97B $25.91B $25.91B $25.92B
Long Term Debt and Capital Lease Obligation $15.97B $16.49B $16.63B $16.63B $16.48B
-Long Term Debt $15.97B $16.49B $16.48B $16.48B $16.48B
Non-Current Deferred Liabilities $7.82B $7.76B $8.32B $8.32B $7.73B
Other Non-Current Liabilities $1.71B $1.72B $583.00M $583.00M $1.71B
Total Equity $16.25B $15.80B $15.55B $15.55B $15.14B
Stockholders' Equity $16.25B $15.80B $15.55B $15.55B $15.14B
Capital Stock $226.00M $226.00M $226.00M $226.00M $226.00M
-Common Stock $226.00M $226.00M $226.00M $226.00M $226.00M
Additional Paid-In Capital $2.33B $2.31B $2.30B $2.30B $2.28B
Retained Earnings $13.91B $13.48B $13.24B $13.24B $12.89B
Gains/Losses Not Affecting Retained Earnings -$212.00M -$211.00M -$210.00M -$210.00M -$262.00M
-Due to Related Parties Current – – $297.00M $297.00M –
-Other Payable – – $117.00M $117.00M –
Current Accrued Expenses – – $199.00M $199.00M –
-Current Capital Lease Obligation – – $70.00M $70.00M –
-Long Term Capital Lease Obligation – – $148.00M $148.00M –
Employee Benefits – – $380.00M $380.00M –

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $1.05B $344.00M $4.36B $1.06B $1.27B
Net cash flow from continuing operations $1.05B $344.00M $4.36B $1.06B $1.27B
Net Income from Continuing Operations $734.00M $547.00M $2.87B $644.00M $711.00M
Gain/Loss from Continuing Operations -$1.00M -$17.00M -$253.00M -$111.00M -$85.00M
Depreciation & Depletion & Amortization $358.00M $352.00M $1.39B $353.00M $348.00M
Deferred Tax $60.00M $48.00M $277.00M -$38.00M $206.00M
Other Non-Cash Items -$46.00M -$67.00M -$230.00M -$66.00M -$74.00M
Change in Working Capital -$51.00M -$519.00M $301.00M $281.00M $165.00M
-Change in Receivables -$55.00M -$135.00M $59.00M $112.00M $4.00M
-Change in Inventory -$15.00M -$41.00M $6.00M $26.00M $16.00M
-Change in Other Current Assets $17.00M $45.00M -$23.00M -$91.00M $14.00M
-Change in Other Current Liabilities $2.00M -$388.00M $259.00M $234.00M $131.00M
Net cash flow from investing -$416.00M -$213.00M -$2.56B -$644.00M -$483.00M
Net Cash Flow from Continuing Investing Activities -$416.00M -$213.00M -$2.56B -$644.00M -$483.00M
Net PPE Purchase and Sale -$424.00M -$220.00M -$2.04B -$685.00M -$497.00M
Net Investment Purchase and Sale $8.00M $7.00M -$522.00M $41.00M $14.00M
Financing Cash Flow -$910.00M -$320.00M -$1.91B -$307.00M -$673.00M
Net Cash Flow from Continuing Financing Activities -$910.00M -$320.00M -$1.91B -$307.00M -$673.00M
Net Issuance Payments Of Debt -$606.00M -$1.00M -$163.00M -$5.00M -$301.00M
Net Common Stock Issuance -$1.00M -$16.00M -$532.00M $1.00M -$69.00M
Cash Dividends Paid -$303.00M -$303.00M -$1.22B -$303.00M -$303.00M
Ending Cash Balance $1.07B $1.34B $1.53B $1.53B $1.42B
Net Change in Cash -$272.00M -$189.00M -$111.00M $112.00M $115.00M
Beginning Cash Balance $1.34B $1.53B $1.64B $1.42B $1.30B
Free Cash Flow $615.00M -$38.00M $2.16B $334.00M $720.00M
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