Norfolk Southern financials
$313.00−0.02%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.18B | $12.12B | $12.16B | $12.74B | $11.14B | $9.79B | $11.30B | $11.46B | $10.55B | $9.89B |
| Gross profit | $12.18B | $12.12B | $12.16B | $12.74B | $11.14B | $9.79B | $11.30B | $11.46B | $10.55B | $9.89B |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating income | $4.36B | $4.07B | $2.85B | $4.81B | $4.45B | $3.39B | $3.99B | $3.96B | $3.52B | $3.01B |
| Net income | $2.87B | $2.62B | $1.82B | $3.27B | $3.00B | $2.01B | $2.72B | $2.66B | $5.40B | $1.66B |
| Net margin | 23.6% | 21.6% | 15.0% | 25.6% | 27.0% | 20.5% | 24.1% | 23.2% | 51.2% | 16.8% |
| Diluted EPS | $12.75 | $11.57 | $8.02 | $13.88 | $12.11 | $7.84 | $10.25 | $9.51 | $18.61 | $5.62 |
| EBITDA | $5.60B | $5.93B | $5.26B | $6.03B | $5.63B | $4.54B | $5.13B | $5.06B | $4.58B | $4.04B |
| Operating cash flow | $4.36B | $4.05B | $3.18B | $4.22B | $4.25B | $3.64B | $3.89B | $3.73B | $3.25B | $3.03B |
| Free cash flow | $2.16B | $28.0M | $830.0M | $2.27B | $2.79B | $2.14B | $1.87B | $1.77B | $1.53B | $1.15B |
| Diluted shares | 225.3M | 226.4M | 227.4M | 235.6M | 248.1M | 256.6M | 265.6M | 280.2M | 290.3M | 296.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.53B | $1.64B | $1.57B | $456.0M | $839.0M | $1.11B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $17.09B | $17.21B | $17.18B | $15.18B | $13.84B | $12.68B |
| Total assets | $45.24B | $43.68B | $41.65B | $38.88B | $38.49B | $37.96B |
| Total liabilities | $29.69B | $29.38B | $28.87B | $26.15B | $24.85B | $23.17B |
| Shareholders' equity | $15.55B | $14.31B | $12.78B | $12.73B | $13.64B | $14.79B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology