| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | 1 | — | — | — | — | 1 | — | — | — | — | — | — |
| Sell | 2 | — | — | 1 | 2 | — | — | — | 2 | 2 | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.57 |
—
—
—
|
| 2025 | 0.52 |
—
—
—
—
|
| 2024 | 0.48 |
—
—
—
—
|
| 2023 | 0.44 |
—
—
—
—
|
| 2022 | 0.40 |
—
—
—
—
|
| 2021 | 0.37 |
—
—
—
—
|
| 2020 | 0.35 |
—
—
—
—
|
| 2019 | 0.32 |
—
—
—
—
|
| 2018 | 0.29 |
—
—
—
—
|
| 2017 | 0.26 |
—
—
—
—
|
| 2016 | 0.24 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 1,436.00 | 1,005.00 | 675.00 | 1,390.00 |
| Receivables | 1,393.00 | 1,326.00 | 1,298.00 | 1,456.00 |
| Inventory | 440.00 | 414.00 | 390.00 | 406.00 |
| Other | 90.00 | 75.00 | 187.00 | 156.00 |
| 3,359.00 | 2,820.00 | 2,550.00 | 3,408.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 1,237.00 | 1,118.00 | 1,149.00 | 1,111.00 |
| ST’ Debt | 558.00 | 606.00 | 708.00 | 1,702.00 |
| Other | 387.00 | 392.00 | 456.00 | 432.00 |
| 3,223.00 | 3,276.00 | 3,133.00 | 4,154.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3,482.00 | 3,935.00 | — | — |
—
|
| ’25 | 3,423.00 | 3,574.00 | 3,587.00 | 3,508.00 |
14,092.00
|
| ’24 | 3,681.00 | 3,701.00 | 3,619.00 | 3,539.00 |
14,540.00
|
| ’23 | 3,706.00 | 3,699.00 | 3,572.00 | 3,680.00 |
14,657.00
|
| ’22 | 3,413.00 | 3,815.00 | 3,895.00 | 3,730.00 |
14,853.00
|
| ’21 | 2,813.00 | 2,990.00 | 3,292.00 | 3,427.00 |
12,522.00
|
| ’20 | 2,855.00 | 2,255.00 | 2,648.00 | 2,825.00 |
10,583.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,272.00 | 1,327.00 | — | — |
—
|
| ’25 | 1,255.00 | 635.00 | 1,337.00 | 1,386.00 |
4,613.00
|
| ’24 | 1,066.00 | 1,107.00 | 1,686.00 | 1,388.00 |
5,247.00
|
| ’23 | 1,251.00 | 1,222.00 | 1,552.00 | 1,489.00 |
5,514.00
|
| ’22 | 1,299.00 | 1,231.00 | 1,725.00 | 1,271.00 |
5,526.00
|
| ’21 | 1,232.00 | 1,167.00 | 1,420.00 | 1,280.00 |
5,099.00
|
| ’20 | 1,178.00 | 1,006.00 | 944.00 | 1,135.00 |
4,263.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 793.00 | 824.00 | — | — |
—
|
| ’25 | 559.00 | (115.00) | 622.00 | 723.00 |
1,789.00
|
| ’24 | 560.00 | 590.00 | 1,068.00 | 566.00 |
2,784.00
|
| ’23 | 816.00 | 712.00 | 991.00 | 826.00 |
3,345.00
|
| ’22 | 976.00 | 772.00 | 1,121.00 | 838.00 |
3,707.00
|
| ’21 | 926.00 | 946.00 | 1,024.00 | 941.00 |
3,837.00
|
| ’20 | 832.00 | 596.00 | 542.00 | 723.00 |
2,693.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.43 | 0.54 | — | — |
—
|
| ’25 | 0.34 | 0.44 | 0.37 | 0.39 |
1.54
|
| ’24 | 0.46 | 0.49 | 0.46 | 0.38 |
1.79
|
| ’23 | 0.48 | 0.49 | 0.42 | 0.45 |
1.85
|
| ’22 | 0.39 | 0.54 | 0.52 | 0.49 |
1.95
|
| ’21 | 0.31 | 0.52 | 0.43 | 0.42 |
1.68
|
| ’20 | 0.33 | 0.22 | 0.32 | 0.33 |
1.20
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 25.80 | 27.60 | 31.43 | 26.22 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 38.63 | 35.09 | 40.12 | 37.54 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22,500 | 23,000 | 23,500 | 23,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.66 | 0.64 | 0.62 | 0.61 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14,853.00 | 14,657.00 | 14,540.00 | 14,092.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 68.02% | 69.30% | 69.99% | 68.32% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,345.00 | 4,829.00 | 4,555.00 | 3,769.00 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 35.99% | 32.95% | 31.33% | 26.75% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,114.00 | 3,668.00 | 3,470.00 | 2,889.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,502.00 | 1,607.00 | 1,766.00 | 1,844.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.95 | 7.30 | 7.50 | 7.54 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 1.95 | 1.85 | 1.79 | 1.54 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.59 | 2.75 | 2.71 | 2.47 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.85) | (1.08) | (1.27) | (1.51) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.74 | 1.67 | 1.44 | 0.96 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 5.91 | 5.97 | 6.45 | 7.04 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,136.00 | 2,008.00 | 1,939.00 | 1,870.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.92 | 18.82 | 18.03 | 23.54 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.44 | 4.74 | 4.30 | 4.81 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.22 | 5.80 | 5.00 | 5.15 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.52 | 5.91 | 5.51 | 6.10 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.10 | 25.89 | 28.76 | 48.06 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,526.00 | 5,514.00 | 5,247.00 | 4,613.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,819.00) | (2,169.00) | (2,463.00) | (2,824.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,707.00 | 3,345.00 | 2,784.00 | 1,789.00 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,378.00 | 136.00 | (456.00) | (583.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18,047.00 | 18,533.00 | 18,503.00 | 18,873.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15,960.00 | 17,097.00 | 17,498.00 | 18,198.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12,625.00 | 11,985.00 | 12,507.00 | 13,160.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.98% | 8.72% | 8.17% | 6.68% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.02% | 11.82% | 10.93% | 9.01% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 31.49% | 29.81% | 28.34% | 22.51% | — | — | — |
ROE
|
CSX Corporation exemplifies resilience in the cyclical rail sector, leveraging Precision Scheduled Railroading (PSR) since 2019 to boost efficiencies amid freight volume swings and macroeconomic headwinds. Revenue stabilized at $14.5 billion in 2024 (down 2% from 2022 peak), with forecasts eyeing a 2025 dip to $14.09 billion before rebounding to $15.73 billion by 2028, driven by intermodal growth and economic recovery. Key metrics shine: revenue per employee rose 61% to a 2022 peak before easing, gross margins rebounded to 70%, and EPS compounded from $0.60 in 2016 to $1.79 in 2024 (+198%), fueled by aggressive buybacks slashing shares 32%.
A fortress balance sheet underpins this strength, with net debt at $18.5 billion (manageable 1.5x debt-to-equity), robust FCF averaging $1.42/share to fund dividends (1.2-1.5% yield) and capex, while ROE averaged 27%—far above peers. Stock appreciation hit ~200% over the period, trading at 18x EPS with PS ~4.3x, decoupling positively from volume softness like coal declines.
Forward outlook tempers optimism with tailwinds like intermodal expansion and PSR 2.0 AI tech, projecting EPS to $2.32 by 2028 (+26% from 2025) for 5-8% annual returns, bolstered by CEO insider buying amid net selling. Risks include labor strikes and decarbonization costs, but Berkshire’s 10% stake and mid-teens ROIC signal a defensive powerhouse primed for re-rating.
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