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Norfolk Southern (NSC)

NYSE Industrials Rail Transportation S&P 500
$319.94
-9.31 (-2.83%)
Close of Nov 06, 2026 · end-of-day data
Source: Norfolk Southern's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$9.89B$10.55B$11.46B$11.30B$9.79B$11.14B$12.74B$12.16B$12.12B$12.18B
Operating income$3.01B$3.52B$3.96B$3.99B$3.00B$4.45B$4.81B$2.85B$4.07B$4.36B
Interest expense$563.00M$550.00M$557.00M$604.00M$625.00M$646.00M$692.00M$722.00M$807.00M$792.00M
Pre-tax income$2.58B$3.13B$3.47B$3.49B$2.53B$3.88B$4.13B$2.32B$3.33B$3.67B
Income tax$914.00M-$2.28B$803.00M$769.00M$517.00M$873.00M$860.00M$493.00M$707.00M$792.00M
Net income$1.66B$5.40B$2.67B$2.72B$2.01B$3.00B$3.27B$1.83B$2.62B$2.87B
EBITDA$4.04B$4.58B$5.06B$5.13B$4.16B$5.63B$6.03B$4.15B$5.42B$5.75B
EPS (basic)$5.66$18.76$9.58$10.32$7.88$12.16$13.92$8.04$11.58$12.76
EPS (diluted)$5.62$18.61$9.51$10.25$7.84$12.11$13.88$8.02$11.57$12.75
Diluted shares296.00M290.30M280.20M265.60M256.60M248.10M235.60M227.40M226.40M225.30M
Operating margin30.4%33.4%34.6%35.3%30.7%39.9%37.7%23.5%33.6%35.8%
Net margin16.8%51.2%23.3%24.1%20.6%27.0%25.7%15.0%21.6%23.6%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$956.00M$690.00M$358.00M$580.00M$1.11B$839.00M$456.00M$1.57B$1.64B$1.53B
Receivables$945.00M$955.00M$1.01B$920.00M$848.00M$976.00M$1.15B$1.15B$1.07B$988.00M
Total current assets$2.29B$2.15B$1.86B$2.08B$2.32B$2.17B$2.01B$3.27B$3.19B$3.20B
Total assets$34.89B$35.71B$36.24B$37.92B$37.96B$38.49B$38.88B$41.65B$43.68B$45.24B
Total current liabilities$2.34B$2.54B$2.59B$2.30B$2.16B$2.52B$2.65B$2.63B$3.54B$3.77B
Short-term debt$100.00M$100.00M$0$316.00M$579.00M$553.00M$703.00M$4.00M$555.00M$607.00M
Long-term debt$10.11B$9.74B$10.56B$11.88B$12.10B$13.29B$14.48B$17.18B$16.65B$16.48B
Total debt$10.21B$9.84B$10.56B$12.20B$12.68B$13.84B$15.18B$17.18B$17.21B$17.09B
Total liabilities$22.48B$19.35B$20.88B$22.74B$23.17B$24.85B$26.15B$28.87B$29.38B$29.69B
Shareholders' equity$12.41B$16.36B$15.36B$15.18B$14.79B$13.64B$12.73B$12.78B$14.31B$15.55B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$3.03B$3.25B$3.73B$3.89B$3.64B$4.25B$4.22B$3.18B$4.05B$4.36B
Capital expenditures$1.89B$1.72B$1.95B$2.02B$1.49B$1.47B$1.95B$2.33B$2.38B$2.20B
Free cash flow$1.15B$1.53B$1.77B$1.87B$2.14B$2.79B$2.27B$852.00M$1.67B$2.16B
Investing cash flow-$1.83B-$1.48B-$1.66B-$1.76B-$1.18B-$1.22B-$1.60B-$2.18B-$2.78B-$2.56B
Financing cash flow-$1.35B-$2.04B-$2.31B-$1.99B-$1.93B-$3.31B-$3.00B$115.00M-$1.20B-$1.91B
Dividends paid$695.00M$703.00M$844.00M$949.00M$960.00M$1.03B$1.17B$1.23B$1.22B$1.22B
Share buybacks$803.00M$1.01B$2.78B$2.10B$1.44B$3.39B$3.11B$622.00M$0$534.00M
Stock-based compensation$42.00M$45.00M$47.00M$53.00M$28.00M$54.00M$53.00M$40.00M$40.00M$63.00M
Depreciation & amortization$1.03B$1.06B$1.10B$1.14B$1.15B$1.18B$1.22B$1.30B$1.35B$1.39B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.