NSC

Norfolk Southern
D

NSC

Arincen60/100B

If you had invested in Norfolk Southern ago, it would be worth $3,999 today, against $4,111 in SPY and $6,388 in QQQ.

ArincenArincen ScoreBeta

60/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation4

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength2

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Norfolk Southern key facts

Style
Blend stock · 4.3/10Growth 3.6 · Value 4.0 · Dividend 4.3
Day range
326.63 – 330.60
52-week range
277.80 – 358.60
Market capitalization
74.24B USD
P/E
27.68
PEG ratio
3.57
EPS
11.94
Div Yield
1.63%
EPS growth forecast (FY2026)
+4.4%
Volume
0
Beta
1.19
ESG score
65.6/100Environment 62 · Social 64 · Governance 70
Sector
Industrials
Industry
Railroads
CEO
Mark R. George
Employees
19K
IPO date
2 Jun 1982

Norfolk Southern earnings

Next earnings · Q4 FY2026
EPS estimate
3.27 USD
Revenue estimate
3.48B USD
Last quarter · Q3 FY2026
EPS3.62Beat +4.6%Revenue3.50BBeat +0.6%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q1 FY20283.40——+8.29%3.51B——+5.47%
Q4 FY20273.68——+12.55%3.58B——+2.83%
Q1 FY20273.14——+18.58%3.32B——+10.80%
Q4 FY20263.27——+1.55%3.48B——+16.93%
Q3 FY20263.463.62+4.62%+9.70%3.48B3.50B+0.61%+12.79%
Q2 FY20263.323.52+6.02%+6.99%3.38B3.50B+3.61%+12.54%
Q1 FY20262.492.65+6.43%-1.49%3.00B3.00B+0.14%+0.23%
Q4 FY20252.763.22+16.67%+5.92%3.00B2.97B-0.90%-1.65%
Q3 FY20253.193.30+3.45%+1.54%3.11B3.10B-0.28%+1.70%
Q2 FY20253.313.29-0.60%+7.52%3.13B3.11B-0.58%+2.17%

Norfolk Southern analyst forecast

12-month price target
364.71 USD
+10.34%

Analysts' 1-year price targets range from 350.00 to 400.00, with an average of 364.71.

Past year
1-year forecast
Strong sellStrong buy
Hold
12 ratings
Buy
4
Hold
8
Sell
0

12-month price target

Highest target400.00
Average target364.71
Lowest target350.00
Current price330.53

Norfolk Southern valuation

Price to earnings ratio (TTM)
27.68
Forward P/E (FY2026)
25.32
Price to sales (TTM)
5.73
Price to book
4.44
EV / EBITDA (TTM)
16.23

Capital structure

Market capitalization
74.24B USD
+
Total debt
16.61B USD
−
Cash and short-term investments
1.60B USD
=
Enterprise value
89.26B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)20.72————
FY2027 (est.)22.7520.72———
FY2026 (est.)25.3222.75———
Now (TTM)27.6823.075.734.4416.23
FY202522.6422.125.334.1713.75
FY202420.2719.544.383.7112.55
FY202329.4020.114.414.2016.05
FY202217.7021.764.544.5412.08
FY202124.4821.766.605.3915.24

Norfolk Southern 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: CSX, Westinghouse Air Brake Technologies, and Union Pacific, 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 median27.7
    14.338.7
  • Gross marginHighest in 5 years42.4%
    23.1%42.4%
    Against its peers: 2 of 4Peers' median 33.2%
  • Operating marginAt its median32.9%
    23.1%39.2%
    Against its peers: 2 of 4Peers' median 32.1%
  • Net marginAt its median23.6%
    15.0%27.0%
    Against its peers: 2 of 4Peers' median 20.5%
  • Return on equityAt its median18.5%
    14.3%25.7%
    Against its peers: 3 of 4Peers' median 22.0%
  • Free cash flow marginAt its median17.7%
    6.8%25.0%
    Against its peers: 2 of 4Peers' median 13.4%
  • Revenue growthAt its median0.5%
    -4.6%14.4%
    Against its peers: 3 of 4Peers' median 1.1%
  • EPS growthBelow its median10.2%
    -42.2%54.5%
    Against its peers: 2 of 4Peers' median 7.9%
  • Debt to EBITDAAt its median2.92×
    2.50×4.05×
    Against its peers: 3 of 4Peers' median 2.46×
  • Current ratioBelow its median0.85
    0.761.24
    Against its peers: 3 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.

Norfolk Southern growth and profitability

Revenue (TTM)
12.96B USD
Net income (TTM)
2.68B USD
Gross margin
52.87%
Operating margin
31.54%
Net margin
20.71%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202512.18B+0.47%2.87B+9.57%42.43%32.91%23.59%5.85B+6.58%
FY202412.12B-0.27%2.62B+43.51%31.05%31.05%21.63%5.49B+26.47%
FY202312.16B-4.62%1.83B-44.13%23.10%23.10%15.03%4.34B-28.18%
FY202212.75B+14.39%3.27B+8.82%37.14%37.14%25.66%6.04B+5.92%
FY202111.14B+13.82%3.01B+49.28%39.18%39.18%26.97%5.71B+32.40%

Norfolk Southern revenue breakdown

By product

FY2025
Railway Operating Revenues Market Group Merchandise: 63.1%Railway Operating Revenues Market Group Intermodal: 24.7%Railway Operating Revenues Market Group Coal: 12.2%63.1%Railway Operating Revenues Market Group Merchandise24.7%Railway Operating Revenues Market Group Intermodal12.2%Railway Operating Revenues Market Group Coal
SegmentRevenueShare of revenueChange on the year
Railway Operating Revenues Market Group Merchandise7.68B63.1%+2.9%
Railway Operating Revenues Market Group Intermodal3.01B24.7%-1.1%
Railway Operating Revenues Market Group Coal1.49B12.2%-7.7%

How Norfolk Southern makes its money

Railway Operating Revenues Market Group Merchandise7.68B 63.1%
Railway Operating Revenues Market Group Intermodal3.01B 24.7%
Railway Operating Revenues Market Group Coal1.49B 12.2%
Revenue12.18B 100.0%
Cost of revenue7.01B 57.6%
Gross profit5.17B 42.4%
Selling and administration753.00M 6.2%
Other operating expenses407.00M 3.3%
Operating income4.01B 32.9%
Tax792.00M 6.5%
Other expense343.00M 2.8%
Net income2.87B 23.6%

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

Norfolk Southern dividends

Annual dividend
5.40 USD
Dividend yield (indicated)
1.63%
Payout ratio
45.23%
Frequency
Quarterly
Next payment
1.35 USD
Last ex-dividend date
6 Nov 2026
Next payment date
20 Nov 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share5.405.405.404.964.163.763.603.042.442.36

Norfolk Southern financial health

Cash and short-term investments
1.60B USD
Total debt
16.61B USD
Net cash
-15.02B USD
Free cash flow (TTM)
1.65B USD
Current ratio
0.90
Debt to equity
0.99
Piotroski score
7 / 9
Altman Z-score
2.48

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
FY20251.53B17.09B2.16B
FY20241.64B17.48B1.67B
FY20231.57B17.57B830.00M
FY2022456.00M15.59B2.27B
FY2021839.00M14.25B2.79B

Norfolk Southern ownership

Institutions
76.49%
Institutional holders
1,911 (+28)
Free float
99.84%

Who owns the shares

Institutions 76.5% Others 23.5%
As of 30 Jun 2026

Shares free to trade

Free float 224.25M shares ·99.8% Closely held 363.88K shares ·0.2%

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 2026004.25K5.37K
Q3 2026004.61K3.69K
Q2 2026008.90K11.57K
Q1 20260056.80K17.23K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025224.80M224.80M-0.71%
FY2024226.10M226.40M-0.44%
FY2023226.90M227.40M-3.48%
FY2022234.80M235.60M-5.04%
FY2021246.90M248.10M-3.31%

Source: Financial Modeling Prep

Related Instruments

Title: Norfolk Southern Corp

Sector: Industrials
Industry: Railroads
Class I railroad Norfolk Southern operates in the Eastern United States. On more than 20,000 miles of track, the railroad hauls shipments of coal, intermodal traffic, and a diverse mix of automotive, agricultural, metal, chemical, and forest products.

Common questions about Norfolk Southern stock