Friday 6 November 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.

Revenue: +13.6%
EPS: +6.65%
Free cash flow: +7.49%
Total debt: −2.75%

Quarter to September 2026, against a year earlier

321.99 5.91 −1.80%

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Market cap: $74.0B
P/E: 27.5×
Fwd P/E: 27.8×
Dividend yield: 2.05%
F-score: 6/9
Altman Z: 2.29
Beneish M: −2.62
Dividend safety: 68/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Norfolk Southern Corporation (NSC) Price to free cash flow

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As of 5 November 2026, Norfolk Southern Corporation (NSC) trades at a price to free cash flow of 37.6×. Over the past ten years it has ranged from 13.9× (March 2020) to 117× (April 2024); the current reading is higher than 85% of that period. That is above the Railroads industry median of 26.4× and above the Industrials sector median of 19.6×.

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<iframe src="https://stockrow.com/embed/NSC/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="Norfolk Southern Corporation price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/NSC/metrics/price-to-free-cash-flow">Norfolk Southern Corporation (NSC) price to free cash flow — stockrow.com</a></p>

Period	Price to free cash flow	Change
FY2025	28.0×	17.57%
FY2024	23.8×	(58.24%)
FY2023	57.0×	148.66%
FY2022	22.9×	(8.18%)
FY2021	25.0×	1.99%
FY2020	24.5×	7.76%
FY2019	22.7×	8.26%
FY2018	21.0×	(14.10%)
FY2017	24.4×	(0.79%)
FY2016	24.6×	(43.50%)

Period	Price to free cash flow	Change
Sep 2026	35.3×	(4.68%)
Jun 2026	37.1×	10.81%
Mar 2026	33.5×	19.52%
Dec 2025	28.0×	(6.58%)
43 more quarters	Free account

Against its own ten years

Low 13.9× High 117×

Ten-year median 25.1×

Current reading's percentile 85

Company	Price to free cash flow
TRN Trinity Industries, Inc. compare	n/m
GBX Greenbrier Companies, Inc. (The) compare	n/m
RAIL Freightcar America, Inc. compare	7.5×
FSTR L.B. Foster Company compare	9.8×
WAB Wabtec compare	26.3×
UNP Union Pacific Corporation compare	26.4×
CSX CSX Corporation compare	27.8×
NSC Norfolk Southern Corporation	37.6×
CP Canadian Pacific Kansas City Limited compare	38.5×
Railroads industry median	26.4×
Industrials sector median	19.6×
Market median	14.1×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

Norfolk Southern Corporation (NSC) Price to free cash flow

Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow, daily

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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