Saturday 31 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.

Revenue: +11.4%
EPS: −4.40%
Free cash flow: −3.08%
Total debt: −4.32%

Quarter to June 2026, against a year earlier

342.64 0.45 +0.13%

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Market cap: $76.9B
P/E: 29.2×
Fwd P/E: 27.8×
Dividend yield: 1.97%
F-score: 6/9
Altman Z: 2.29
Beneish M: −2.62
Dividend safety: 68/100

Overview Segments Filings

Norfolk Southern Corporation (NSC) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Merchandise	7,684	63.09%
Intermodal	3,009	24.70%
Coal	1,487	12.21%
Gross margin		69.94%
Operating margin		35.76%
Pre-tax margin		30.09%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Merchandise	7,684 63.09%	7,470 61.62%	7,353 60.49%	7,331 57.52%	6,669 59.85%	6,088 62.19%	6,803 60.22%	6,744 58.86%
Intermodal	3,009 24.70%	3,042 25.09%	3,090 25.42%	3,681 28.88%	3,163 28.39%	2,654 27.11%	2,824 25.00%	2,893 25.25%
Coal	1,487 12.21%	1,611 13.29%	1,713 14.09%	1,733 13.60%	1,310 11.76%	1,047 10.70%	1,669 14.78%	1,821 15.89%
Reportable Segment	12,180	12,123	12,156	—	—	—	—	—
Revenue	12,180	12,123	12,156	12,745	11,142	9,789	11,296	11,458

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Operating income	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Remaining performance obligations	Q3 FY2026	$0.00	—	—

	Q3 FY2026	Q4 FY2025
Remaining performance obligations	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.