Norfolk Southern Corporation
NSC Industrials Railroads
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.
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Norfolk Southern Corporation (NSC) Operating margin
Norfolk Southern Corporation's operating margin over the twelve months to 30 June 2026 was 32.2%, down 3.6 percentage points from fiscal 2025 (35.8%). Over the past ten years it has ranged from 23.5% (fiscal 2023) to 39.9% (fiscal 2021); the current reading is higher than 82% of that period. That is above the Railroads industry median of 24.3% and above the Industrials sector median of 5.13%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 35.8% | 2.18 |
| FY2024 | 33.6% | 10.13 |
| FY2023 | 23.5% | (14.28) |
| FY2022 | 37.7% | (2.18) |
| FY2021 | 39.9% | 9.24 |
| FY2020 | 30.7% | (4.64) |
| FY2019 | 35.3% | 0.76 |
| FY2018 | 34.6% | 1.17 |
| FY2017 | 33.4% | 2.95 |
| FY2016 | 30.4% | 2.99 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 32.4% | 3.19 |
| Mar 2026 | 29.3% | (2.26) |
| Dec 2025 | 31.5% | (3.88) |
| Sep 2025 | 35.4% | (2.39) |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| UNP Union Pacific Corporation compare | 40.0% |
| TRN Trinity Industries, Inc. compare | 37.0% |
| CP Canadian Pacific Kansas City Limited compare | 36.7% |
| CSX CSX Corporation compare | 34.2% |
| NSC Norfolk Southern Corporation | 32.2% |
| WAB Wabtec compare | 16.4% |
| GBX Greenbrier Companies, Inc. (The) compare | 7.23% |
| FSTR L.B. Foster Company compare | 4.36% |
| RAIL Freightcar America, Inc. compare | 3.77% |
| Railroads industry median | 24.3% |
| Industrials sector median | 5.13% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on NSC
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement