Saturday 17 October 2026 Export NSC’s income statement to Excel — free account

Norfolk Southern Corporation

Norfolk Southern Corporation’s revenue for fiscal 2025 (year ended December 2025) was $12.2 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 11.4%, EPS fell 4.40%, free cash flow fell 3.08% and total debt fell 4.32%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

326.92 2.09 +0.64%

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Market cap: $73.0B
P/E: 27.9×
Fwd P/E: 26.4×
Dividend yield: 1.65%
F-score: 6/9
Altman Z: 2.29
Beneish M: −2.62
Dividend safety: 68/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	18.90	7.78	15.71	18.94	30.23	24.56	17.82	29.38	20.30	22.64
Piotroski F-Score Full definition →	7	7	5	6	7	7	6	5	7	6
P/S ratio Full definition →	3.18	4.01	3.62	4.53	6.19	6.60	4.56	4.40	4.38	5.33
Altman Z-Score Full definition →	1.83	2.46	2.37	2.47	2.57	2.86	2.43	2.01	2.05	2.29
Altman Z″-Score (non-manufacturers) Full definition →	2.12	2.77	2.58	2.51	2.34	2.27	2.13	1.86	1.99	2.07
P/FCF ratio Full definition →	24.62	24.43	20.98	22.72	24.48	24.97	22.92	57.01	23.81	27.99
Beneish M-Score Full definition →	(2.67)	(2.15)	(2.57)	(2.62)	(2.74)	(2.50)	(2.42)	(2.67)	(2.77)	(2.62)
P/Operating CF Full definition →	43.55	53.69	49.32	57.11	69.67	78.03	72.88	79.45	55.80	61.11
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	68
P/B ratio Full definition →	2.53	2.59	2.70	3.37	4.10	5.39	4.57	4.18	3.71	4.18
Price to Tangible BV Full definition →	2.53	2.59	2.70	3.37	4.10	5.39	4.57	4.18	3.71	4.18
EV/Sales Full definition →	4.12	4.88	4.57	5.55	7.37	7.76	5.72	5.68	5.66	6.61
EV/EBITDA Full definition →	10.08	11.23	10.33	12.23	17.37	15.37	12.09	16.65	12.65	14.01
EV/Operating CF Full definition →	13.41	15.82	14.04	16.12	19.85	20.33	17.26	21.73	16.94	18.46
EV/FCF Full definition →	31.87	29.71	26.43	27.88	29.15	29.38	28.73	73.65	30.79	34.69
Quick Ratio Full definition →	0.81	0.65	0.53	0.65	0.91	0.72	0.61	1.03	0.76	0.67
Current Ratio Full definition →	0.98	0.84	0.72	0.90	1.07	0.86	0.76	1.24	0.90	0.85
Net Debt/EBITDA Full definition →	2.29	2.00	2.13	2.27	2.78	2.31	2.44	3.76	2.87	2.71
Debt/Assets Full definition →	29.27%	27.54%	30.75%	32.16%	33.40%	35.95%	39.04%	41.24%	39.39%	37.77%
Debt/Equity Full definition →	0.82	0.60	0.73	0.80	0.86	1.01	1.19	1.34	1.20	1.10
Asset Turnover Full definition →	0.29	0.30	0.32	0.30	0.26	0.29	0.33	0.30	0.28	0.27
Operating CF/Net income Full definition →	1.82	0.60	1.40	1.43	1.81	1.42	1.29	1.74	1.55	1.52
Capex/Depreciation Full definition →	(1.71)	(1.44)	(1.58)	(1.44)	(1.01)	(1.11)	(1.38)	(1.73)	(1.35)	(1.46)
Interest Coverage Full definition →	5.34	6.40	7.11	6.60	4.80	6.88	6.95	3.95	5.04	5.50
ROE Full definition →	13.52%	37.54%	16.77%	17.79%	13.41%	21.12%	24.78%	14.30%	19.34%	19.23%
ROA Full definition →	4.82%	15.30%	7.39%	7.33%	5.30%	7.86%	8.45%	4.53%	6.14%	6.46%
ROIC Full definition →	8.68%	8.63%	9.46%	9.30%	7.12%	10.43%	10.95%	6.28%	8.52%	8.75%
Return on Tangible Assets Full definition →	5.60%	18.04%	8.76%	8.65%	6.38%	9.59%	10.37%	5.37%	7.38%	7.99%
Average Days of Receivables Full definition →	34.88	33.04	32.14	29.73	31.62	31.97	32.88	34.44	32.19	29.61
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	28.40%	28.23%	25.53%	24.35%	24.24%	21.92%	20.56%	23.19%	23.29%	23.99%
Intangible Assets out of Total Assets Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Graham Net Nets Full definition →	(0.64)	(0.41)	(0.46)	(0.40)	(0.34)	(0.31)	(0.42)	(0.48)	(0.49)	(0.41)
Graham Number Full definition →	73.33	155.36	108.85	115.32	101.26	122.75	130.23	100.82	128.29	140.79
Earnings Yield Full definition →	5.29%	12.85%	6.37%	5.28%	3.31%	4.07%	5.61%	3.40%	4.93%	4.42%
Free Cash Flow Yield Full definition →	4.06%	4.09%	4.77%	4.40%	4.08%	4.01%	4.36%	1.75%	4.20%	3.57%
Revenue per Share Full definition →	33.64	36.65	41.26	42.90	38.37	45.13	54.28	53.57	53.62	54.13
Operating CF per Share Full definition →	10.32	11.30	13.42	14.78	14.26	17.23	17.98	14.01	17.92	19.38
Capex per Share Full definition →	(5.98)	(5.28)	(6.29)	(6.24)	(4.55)	(5.31)	(7.18)	(9.88)	(8.06)	(9.07)
Free Cash Flow per Share Full definition →	4.35	6.02	7.13	8.55	9.71	11.92	10.80	4.13	9.86	10.32
Cash per Share Full definition →	3.25	2.40	1.29	2.20	4.37	3.40	1.94	6.91	7.26	6.80
Shareholders Equity per Share Full definition →	42.22	56.82	55.32	57.67	57.98	55.25	54.23	56.33	63.27	69.10
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	42.22	56.82	55.32	57.67	57.98	55.25	54.23	56.33	63.27	69.10
Free Cash Flow Full definition →	1,277.00	1,732.00	1,979.00	2,250.00	2,476.00	2,944.00	2,537.00	938.00	2,229.00	2,321.00
Working Capital Full definition →	(48.00)	(396.00)	(729.00)	(219.00)	158.00	(354.00)	(642.00)	639.00	(357.00)	(577.00)
Capital Expenditures Full definition →	(1,757.00)	(1,521.00)	(1,747.00)	(1,642.00)	(1,161.00)	(1,311.00)	(1,685.00)	(2,241.00)	(1,823.00)	(2,040.00)
Net Current Asset Value Full definition →	(20,192.00)	(17,203.00)	(19,015.00)	(20,658.00)	(20,853.00)	(22,685.00)	(24,145.00)	(25,600.00)	(26,188.00)	(26,491.00)
EV/EBIT Full definition →	13.53	14.61	13.21	15.73	24.04	19.45	15.16	24.23	16.86	18.48
Capex to Sales Full definition →	0.18	0.14	0.15	0.15	0.12	0.12	0.13	0.18	0.15	0.17
Price to Operating Income Full definition →	10.45	12.01	10.49	12.81	20.19	16.53	12.09	18.76	13.04	14.91
Other line items
Depreciation/Fixed assets Full definition →	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Cash ROIC Full definition →	5.42%	6.44%	7.37%	8.05%	8.66%	10.40%	8.94%	2.98%	6.72%	6.79%
Accounts Receivable Turnover Full definition →	10.46	11.11	11.67	11.71	11.07	12.22	12.00	10.59	10.94	11.84
Accounts Payable Turnover Full definition →	2.64	2.29	2.39	2.33	2.35	2.60	3.10	2.78	2.02	2.05
Inventory Turnover Full definition →	11.53	12.51	16.19	15.16	12.37	14.00	17.38	15.75	12.45	13.36
Average Days of Payables Full definition →	145.64	170.74	158.22	152.49	128.99	160.52	115.28	146.82	184.67	185.74
Days of Inventory on Hand Full definition →	30.81	27.06	21.76	26.06	28.06	25.90	22.56	23.66	30.02	27.02
Average Receivables Full definition →	945.50	950.00	982.00	964.50	884.00	912.00	1,062.00	1,147.50	1,108.00	1,028.50
Average Payables Full definition →	1,153.00	1,308.00	1,453.00	1,466.50	1,222.00	1,183.50	1,322.00	1,465.50	1,671.00	1,783.50
Average Inventory Full definition →	264.00	239.50	214.50	225.50	232.50	219.50	235.50	258.50	270.50	274.00
Average Assets Full definition →	34,515.50	35,301.50	35,975.00	37,081.00	37,942.50	38,227.50	38,689.00	40,268.50	42,667.00	44,459.00
Average Common Equity Full definition →	12,298.50	14,384.00	15,860.50	15,273.00	14,987.50	14,216.00	13,187.00	12,757.00	13,543.50	14,926.50

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