CSX

CSX
D

CSX

Arincen57/100B

CSX financials

Yes. CSX earned 3.58B USD of net income over the last twelve months, 24.0% of its revenue. It made a profit in 38 of its 41 fiscal years since 1985. Its last loss was in fiscal year 1991.

Revenue (TTM)
14.94B USD
Net income (TTM)
3.58B USD
Free cash flow (TTM)
3.21B USD
Cash and short-term investments
1.61B USD
Total debt
19.30B USD
Shareholders' equity
14.38B USD

Cash, debt and equity as of 30 Sept 2026.

CSX earnings

Next earnings · Q4 FY2026
EPS estimate
0.53 USD
Revenue estimate
3.98B USD
Last quarter · Q3 FY2026
EPS0.57Beat +7.3%Revenue4.02BBeat +1.5%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20270.63——+10.45%4.18B——+3.95%
Q2 FY20270.63——+16.06%4.16B——+5.71%
Q1 FY20270.51——+18.81%3.81B——+9.56%
Q4 FY20260.53——+35.90%3.98B——+13.41%
Q3 FY20260.530.57+7.34%+29.55%3.96B4.02B+1.47%-9.87%
Q2 FY20260.520.54+4.25%+22.73%3.89B3.94B+1.05%+10.10%
Q1 FY20260.390.43+10.54%+26.47%3.49B3.48B-0.18%+1.72%
Q4 FY20250.410.39-5.11%-7.14%3.54B3.51B-0.92%-0.88%
Q3 FY20250.420.44+3.75%-4.35%3.57B4.46B+24.85%+23.24%
Q2 FY20250.420.44+5.85%-10.20%3.58B3.57B-0.06%-3.43%

CSX growth and profitability

Full income statement
Revenue (TTM)
14.94B USD
Net income (TTM)
3.58B USD
Gross margin
36.40%
Operating margin
36.40%
Net margin
23.97%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202514.09B-3.08%2.89B-16.74%33.25%32.08%20.50%6.27B-11.00%
FY202414.54B-0.80%3.47B-5.40%37.87%36.91%23.87%7.05B-2.76%
FY202314.66B-1.32%3.67B-10.84%38.23%37.30%25.03%7.25B-4.53%
FY202214.85B+18.62%4.11B+8.81%38.48%40.09%27.70%7.59B+6.99%
FY202112.52B+18.32%3.78B+36.75%42.24%41.20%30.19%7.09B+23.06%

How CSX makes its money

Revenue14.09B 100.0%
Cost of revenue9.41B 66.8%
Gross profit4.69B 33.2%
Other operating expenses164.00M 1.2%
Operating income4.52B 32.1%
Tax880.00M 6.2%
Other expense752.00M 5.3%
Net income2.89B 20.5%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

CSX revenue breakdown

By product

FY2025
Total Merchandise: 64.6%Intermodal: 15.4%Coal Services: 14.0%Trucking: 6.0%64.6%Total Merchandise15.4%Intermodal14.0%Coal Services6.0%Trucking
SegmentRevenueShare of revenueChange on the year
Total Merchandise8.80B64.6%-1.1%
Intermodal2.10B15.4%+5.0%
Coal Services1.90B14.0%-13.6%
Trucking816.00M6.0%-3.3%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY20254.61B1.71B
FY20245.25B2.72B
FY20235.51B3.26B
FY20225.62B3.49B
FY20215.10B3.31B
FY20204.26B2.64B
FY20194.85B3.19B
FY20184.64B2.90B
FY20173.47B1.43B
FY20163.04B643.00M

CSX financial health

Full balance sheet
Cash and short-term investments
1.61B USD
Total debt
19.30B USD
Net cash
-17.69B USD
Free cash flow (TTM)
3.21B USD
Current ratio
0.84
Debt to equity
1.34
Piotroski score
8 / 9
Altman Z-score
2.85

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY2025675.00M19.35B1.71B
FY20241.01B18.99B2.72B
FY20231.44B19.02B3.26B
FY20222.09B18.54B3.49B
FY20212.32B16.84B3.31B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY202543.68B30.52B13.16B
FY202442.76B30.26B12.50B
FY202342.21B30.23B11.98B
FY202241.91B29.29B12.63B
FY202140.53B27.03B13.50B
FY202039.79B26.68B13.10B
FY201938.26B26.39B11.86B
FY201836.73B24.15B12.58B
FY201735.74B21.02B14.72B
FY201635.41B23.72B11.69B

CSX valuation

Price to earnings ratio (TTM)
26.90
Forward P/E (FY2026)
25.21
Price to sales (TTM)
6.40
Price to book
6.66
EV / EBITDA (TTM)
15.81

Capital structure

Market capitalization
95.70B USD
+
Total debt
19.30B USD
−
Cash and short-term investments
1.61B USD
=
Enterprise value
113.39B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)20.15————
FY2027 (est.)22.1120.15———
FY2026 (est.)25.2122.11———
Now (TTM)26.9022.486.406.6615.81
FY202523.5417.614.795.1313.76
FY202418.0319.714.305.0011.43
FY202318.9516.894.755.8112.05
FY202215.8916.894.465.2410.90
FY202122.3819.886.766.2713.99

CSX against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Norfolk Southern, Union Pacific, and Westinghouse Air Brake Technologies, the US Railroads companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median26.9
    14.731.2
  • Gross marginLowest in 5 years33.2%
    33.2%42.2%
    Against its peers: 3 of 4Peers' median 42.4%
  • Operating marginLowest in 5 years32.1%
    32.1%41.2%
    Against its peers: 3 of 4Peers' median 32.9%
  • Net marginLowest in 5 years20.5%
    20.5%30.2%
    Against its peers: 3 of 4Peers' median 23.6%
  • Return on equityLowest in 5 years22.0%
    22.0%32.6%
    Against its peers: 2 of 4Peers' median 18.5%
  • Free cash flow marginLowest in 5 years12.1%
    12.1%26.4%
    Against its peers: 4 of 4Peers' median 17.7%
  • Revenue growthLowest in 5 years-3.1%
    -3.1%18.6%
    Against its peers: 4 of 4Peers' median 1.1%
  • EPS growthLowest in 5 years-14.0%
    -14.0%40.0%
    Against its peers: 4 of 4Peers' median 10.2%
  • Debt to EBITDAHighest in 5 years3.09×
    2.37×3.09×
    Against its peers: 4 of 4Peers' median 2.46×
  • Current ratioLowest in 5 years0.81
    0.811.73
    Against its peers: 4 of 4Peers' median 0.91

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

CSX dividends

Annual dividend
0.56 USD
Dividend yield (indicated)
1.08%
Payout ratio
35.75%
Years of dividend growth
22
Frequency
Quarterly
Next payment
0.14 USD
Next ex-dividend date
30 Nov 2026
Next payment date
15 Dec 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share0.520.480.440.400.370.350.320.290.260.24

CSX ownership

Institutions
80.08%
Institutional holders
2,062 (+118)
Free float
99.86%

Who owns the shares

Institutions 80.1% Others 19.9%
As of 30 Jun 2026

Shares free to trade

Free float 1.84B shares ·99.9% Closely held 2.54M shares ·0.1%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 202601369.0019.50K
Q3 20260214.32K68.61K
Q2 202602138.11K283.42K
Q1 2026131.12M345.37K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY20251.86B1.86B-4.07%
FY20241.94B1.94B-3.48%
FY20232.01B2.01B-5.98%
FY20222.14B2.14B-5.06%
FY20212.25B2.26B-2.13%

Common questions about CSX's financials

Source: Financial Modeling Prep