NORFOLK SOUTHERN CORP financials
NSC CIK 0000702165
Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T10:12:43Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 2.16B | 1.67B | 852.00M | 2.27B | 2.79B | 2.14B |
| EBITDA | 5.75B | 5.42B | 4.15B | 6.03B | 5.63B | 4.16B |
| Working Capital | -577.00M | -357.00M | 639.00M | -642.00M | -354.00M | 158.00M |
| Net Debt | 15.78B | 15.84B | 16.00B | 15.24B | 13.41B | 12.00B |
| Operating Margin | 35.76% | 33.58% | 23.45% | 37.73% | 39.91% | 30.67% |
| Net Margin | 23.59% | 21.63% | 15.03% | 25.66% | 26.97% | 20.56% |
| Return on Equity (ROE) | 18.48% | 18.33% | 14.29% | 25.68% | 22.03% | 13.61% |
| Return on Assets (ROA) | 6.35% | 6.00% | 4.39% | 8.41% | 7.81% | 5.30% |
| Current Ratio | 0.8472 | 0.8993 | 1.2428 | 0.7576 | 0.8596 | 1.0731 |
| Debt-to-Equity | 1.1131 | 1.2217 | 1.3748 | 1.2324 | 1.0449 | 0.8866 |
| Effective Tax Rate | 21.61% | 21.24% | 21.25% | 20.82% | 22.51% | 20.43% |
| Cash Conversion Ratio | 1.5179 | 1.5454 | 1.74 | 1.2911 | 1.416 | 1.8068 |
| Accruals Ratio | -0.0329 | -0.0327 | -0.0325 | -0.0245 | -0.0325 | -0.0428 |
| SBC % of Revenue | 0.52% | 0.33% | 0.33% | 0.42% | 0.48% | 0.29% |
| CapEx Coverage | 1.9787 | 1.7018 | 1.3661 | 2.1674 | 2.8946 | 2.4344 |
| Free Cash Flow Per Share | $9.57 | $7.38 | $3.75 | $9.65 | $11.23 | $8.35 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 22.6447 | 20.2852 | 29.4738 | 17.7536 | 24.5838 | 30.3074 |
| P/FCF | 30.157 | 31.7992 | 63.0902 | 25.5305 | 26.5213 | 28.4512 |
| FCF Yield | 3.32% | 3.14% | 1.58% | 3.92% | 3.77% | 3.51% |
| EV / EBITDA | 14.0146 | 12.7129 | 16.7148 | 11.8472 | 15.0876 | 17.3001 |
| P/S | 5.3198 | 4.3815 | 4.3885 | 4.4098 | 6.4171 | 6.1191 |
| P/B | 4.1677 | 3.713 | 4.1739 | 4.4139 | 5.2415 | 4.0498 |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 12.18B | 12.12B | 12.16B | 12.74B | 11.14B | 9.79B |
| Operating Income (Loss) | 4.36B | 4.07B | 2.85B | 4.81B | 4.45B | 3.00B |
| Income Tax Expense (Benefit) | 792.00M | 707.00M | 493.00M | 860.00M | 873.00M | 517.00M |
| Net Income (Loss) Attributable to Parent | 2.87B | 2.62B | 1.83B | 3.27B | 3.00B | 2.01B |
| Earnings Per Share, Basic | $12.76 | $11.58 | $8.04 | $13.92 | $12.16 | $7.88 |
| Weighted Average Number of Shares Outstanding, Basic | 225.00M | 226.10M | 226.90M | 234.80M | 246.90M | 255.10M |
| Earnings Per Share, Diluted | $12.75 | $11.57 | $8.02 | $13.88 | $12.11 | $7.84 |
| Weighted Average Number of Shares Outstanding, Diluted | 225.30M | 226.40M | 227.40M | 235.60M | 248.10M | 256.60M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 1.53B | 1.64B | 1.57B | 456.00M | 839.00M | 1.11B |
| Assets, Current | 3.20B | 3.19B | 3.27B | 2.01B | 2.17B | 2.32B |
| Assets | 45.24B | 43.68B | 41.65B | 38.88B | 38.49B | 37.96B |
| Liabilities, Current | 3.77B | 3.54B | 2.63B | 2.65B | 2.52B | 2.16B |
| Liabilities | 29.69B | 29.38B | 28.87B | 26.15B | 24.85B | 23.17B |
| Stockholders' Equity Attributable to Parent | 15.55B | 14.31B | 12.78B | 12.73B | 13.64B | 14.79B |
| Common Stock, Shares, Outstanding | 224.42M | 226.32M | 225.68M | 228.08M | 240.16M | 252.10M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 4.36B | 4.05B | 3.18B | 4.22B | 4.25B | 3.64B |
| Payments to Acquire Property, Plant, and Equipment | 2.20B | 2.38B | 2.33B | 1.95B | 1.47B | 1.49B |
| Net Cash Provided by (Used in) Investing Activities | -2.56B | -2.78B | -2.18B | -1.60B | -1.22B | -1.18B |
| Payments for Repurchase of Common Stock | 534.00M | 0 | 622.00M | 3.11B | 3.39B | 1.44B |
| Net Cash Provided by (Used in) Financing Activities | -1.91B | -1.20B | 115.00M | -3.00B | -3.31B | -1.93B |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -38.00M | 334.00M | 1.82B | 1.10B | 501.00M | 276.00M |
| EBITDA | 1.23B | 1.29B | 2.14B | 1.87B | 1.49B | 1.47B |
| Working Capital | -311.00M | -577.00M | -488.00M | -760.00M | -749.00M | -357.00M |
| Net Debt | 15.15B | 15.78B | 15.06B | 15.16B | 15.65B | 15.84B |
| Operating Margin | 29.25% | 31.51% | 35.39% | 37.78% | 38.29% | 37.40% |
| Net Margin | 18.25% | 21.65% | 22.91% | 24.69% | 25.06% | 24.24% |
| Return on Equity (ROE) | 3.46% | 4.14% | 4.70% | 5.19% | 5.17% | 5.12% |
| Return on Assets (ROA) | 1.21% | 1.42% | 1.59% | 1.74% | 1.71% | 1.68% |
| Current Ratio | 0.9067 | 0.8472 | 0.8615 | 0.7927 | 0.7829 | 0.8993 |
| Debt-to-Equity | 1.0435 | 1.1131 | 1.0882 | 1.1134 | 1.1481 | 1.2217 |
| Effective Tax Rate | 23.50% | 15.82% | 23.05% | 23.05% | 23.31% | 21.01% |
| Cash Conversion Ratio | 0.6289 | 1.6506 | 4.6385 | 2.6393 | 1.2667 | 1.2974 |
| Accruals Ratio | 0.0045 | -0.0093 | -0.058 | -0.0285 | -0.0046 | -0.005 |
| SBC % of Revenue | 0.83% | 0.37% | 0.55% | 0.55% | 0.60% | 0.43% |
| CapEx Coverage | 0.9005 | 1.4582 | 2.2359 | 2.1937 | 2.1158 | 1.4089 |
| Free Cash Flow Per Share | $-0.17 | $1.48 | $8.11 | $4.90 | $2.21 | $1.22 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 24.1786 | 22.6447 | 22.9146 | 17.2953 | 16.1783 | 20.3028 |
| EV / EBITDA | 12.2026 | 11.8712 | 11.8316 | 9.7669 | 9.3628 | 10.7189 |
| P/S | 5.29 | 5.3198 | 5.5117 | 4.7212 | 4.4085 | 4.3815 |
| P/B | 4.0786 | 4.1677 | 4.452 | 3.8882 | 3.6797 | 3.713 |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 3.00B | 2.97B | 3.10B | 3.11B | 2.99B | 3.02B |
| Operating Income (Loss) | 877.00M | 937.00M | 1.10B | 1.18B | 1.15B | 1.13B |
| Income Tax Expense (Benefit) | 168.00M | 121.00M | 213.00M | 230.00M | 228.00M | 195.00M |
| Net Income (Loss) Attributable to Parent | 547.00M | 644.00M | 711.00M | 768.00M | 750.00M | 733.00M |
| Earnings Per Share, Basic | $2.43 | $2.87 | $3.16 | $3.41 | $3.31 | $3.23 |
| Weighted Average Number of Shares Outstanding, Basic | 224.50M | 225.00M | 224.40M | 225.00M | 226.10M | 226.10M |
| Earnings Per Share, Diluted | $2.43 | $2.87 | $3.16 | $3.41 | $3.31 | $3.23 |
| Weighted Average Number of Shares Outstanding, Diluted | 225.00M | 225.30M | 224.70M | 225.20M | 226.50M | 226.40M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 1.34B | 1.53B | 1.42B | 1.30B | 1.01B | 1.64B |
| Assets, Current | 3.02B | 3.20B | 3.04B | 2.91B | 2.70B | 3.19B |
| Assets | 45.11B | 45.24B | 44.58B | 44.16B | 43.80B | 43.68B |
| Liabilities, Current | 3.33B | 3.77B | 3.52B | 3.67B | 3.45B | 3.54B |
| Liabilities | 29.31B | 29.69B | 29.44B | 29.37B | 29.29B | 29.38B |
| Stockholders' Equity Attributable to Parent | 15.80B | 15.55B | 15.14B | 14.79B | 14.51B | 14.31B |
| Common Stock, Shares, Outstanding | 224.59M | 224.42M | 224.39M | 224.61M | 225.44M | 226.32M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 344.00M | 1.06B | 3.30B | 2.03B | 950.00M | 951.00M |
| Payments to Acquire Property, Plant, and Equipment | 382.00M | 729.00M | 1.48B | 924.00M | 449.00M | 675.00M |
| Net Cash Provided by (Used in) Investing Activities | -213.00M | -644.00M | -1.92B | -1.44B | -1.02B | 11.00M |
| Payments for Repurchase of Common Stock | 5.00M | 0 | 534.00M | 456.00M | 248.00M | 0 |
| Net Cash Provided by (Used in) Financing Activities | -320.00M | -307.00M | -1.60B | -930.00M | -564.00M | -296.00M |
Raw XBRL tagging for a single filing
Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.
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read from the filer's top-line concept
(Revenues / RevenueFromContractWithCustomerExcludingAssessedTax,
with a fallback chain). Non-USD rows, rows without a
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Income Statement
20 concepts 3 units Unit US$ · 13 concepts
| Label | Value | Period |
|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 3.00B | 2026-01-01 → 2026-03-31 |
| Fuel Costs | 256.00M | 2026-01-01 → 2026-03-31 |
| Costs and Expenses | 2.12B | 2026-01-01 → 2026-03-31 |
| Business Combination, Acquisition Related Costs | 52.00M | 2026-01-01 → 2026-03-31 |
| Labor and Related Expense | 740.00M | 2026-01-01 → 2026-03-31 |
| Gain (Loss) on Disposition of Assets | 17.00M | 2026-01-01 → 2026-03-31 |
| Operating Income (Loss) | 877.00M | 2026-01-01 → 2026-03-31 |
| Other Nonoperating Income (Expense) | 35.00M | 2026-01-01 → 2026-03-31 |
| InterestExpenseNonoperating | 197.00M | 2026-01-01 → 2026-03-31 |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 715.00M | 2026-01-01 → 2026-03-31 |
| Income Tax Expense (Benefit) | 168.00M | 2026-01-01 → 2026-03-31 |
| Net Income (Loss) Attributable to Parent | 547.00M | 2026-01-01 → 2026-03-31 |
| Net Income (Loss) Available to Common Stockholders, Basic | 546.00M | 2026-01-01 → 2026-03-31 |
Unit shares · 4 concepts
| Label | Value | Period |
|---|---|---|
| Weighted Average Number of Shares Outstanding, Basic | 224.50M | 2026-01-01 → 2026-03-31 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 2026-01-01 → 2026-03-31 |
| Weighted Average Number of Shares Outstanding, Diluted | 225.00M | 2026-01-01 → 2026-03-31 |
| Weighted Average Number Diluted Shares Outstanding Adjustment | 500,000 | 2026-01-01 → 2026-03-31 |
Unit US$ / share · 3 concepts
| Label | Value | Period |
|---|---|---|
| Earnings Per Share, Basic | $2.43 | 2026-01-01 → 2026-03-31 |
| Earnings Per Share, Diluted | $2.43 | 2026-01-01 → 2026-03-31 |
| Common Stock, Dividends, Per Share, Declared | $1.35 | 2026-01-01 → 2026-03-31 |
Comprehensive Income
6 concepts 1 unit Unit US$ · 6 concepts
| Label | Value | Period |
|---|---|---|
| Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent | 2.00M | 2026-01-01 → 2026-03-31 |
| OciEquityMethodInvestmentBeforeTaxParent | 0 | 2026-01-01 → 2026-03-31 |
| Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent | -2.00M | 2026-01-01 → 2026-03-31 |
| Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | -1.00M | 2026-01-01 → 2026-03-31 |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | -1.00M | 2026-01-01 → 2026-03-31 |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 546.00M | 2026-01-01 → 2026-03-31 |
Balance Sheet
30 concepts 3 units Unit US$ · 26 concepts
Unit shares · 3 concepts
| Label | Value | Period |
|---|---|---|
| Common Stock, Shares Authorized | 1.35B | as of 2026-03-31 |
| Common Stock, Shares, Issued | 224.59M | as of 2026-03-31 |
| Common Stock, Shares, Outstanding | 224.59M | as of 2026-03-31 |
Unit US$ / share · 1 concept
| Label | Value | Period |
|---|---|---|
| Common Stock, Par or Stated Value Per Share | $1.00 | as of 2026-03-31 |
Cash Flow Statement
24 concepts 1 unit Unit US$ · 24 concepts
Notes
16 concepts 4 units Unit US$ · 12 concepts
Unit shares · 2 concepts
| Label | Value | Period |
|---|---|---|
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 39,693 | 2026-01-01 → 2026-03-31 |
| Stock Repurchased During Period, Shares | 0 | 2026-01-01 → 2026-03-31 |
Unit operatingUnit · 1 concept
| Label | Value | Period |
|---|---|---|
| Number of Operating Segments | 1 | 2026-01-01 → 2026-03-31 |
Unit reportingUnit · 1 concept
| Label | Value | Period |
|---|---|---|
| Number of Reportable Segments | 1 | 2026-01-01 → 2026-03-31 |
Other
1 concepts 1 unit Unit shares · 1 concept
| Label | Value | Period |
|---|---|---|
| Entity Common Stock, Shares Outstanding | 224.59M | as of 2026-03-31 |
Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (NSC CIK 0000702165),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.