NSC (Norfolk Southern Corporation) Stock Financials & Earnings | Market Cap Arena

NSC (Norfolk Southern Corporation) Stock Financials & Earnings | Market Cap Arena

NSCNorfolk Southern Corporation

Mkt Cap$68B

Industrials·Railroads·🇺🇸 United States·NYSE

Revenue (TTM)$12.2B

Net Income (TTM)$2.9B

EPS (TTM)$12.75

Free Cash Flow (TTM)$4.4B

Gross Margin42.4%

Op. Margin32.9%

Net Margin23.6%

FCF Margin35.8%

P/S Ratio (TTM)5.6x

P/E Ratio (TTM)23.7x

YoY Rev Growth+0.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$3.1B	$708M	$708M
Q2 23	$3.0B	$557M	$557M
Q3 23	$3.0B	$748M	$748M
Q4 23	$3.1B	$795M	$795M
Q1 24	$3.0B	$312M	$312M
Q2 24	$3.0B	$1.1B	$1.1B
Q3 24	$3.1B	$1.3B	$1.3B
Q4 24	$3.0B	$1.1B	$1.1B
Q1 25	$3.0B	$938M	$938M
Q2 25	$3.1B	$1.1B	$1.1B
Q3 25	$3.1B	$1.0B	$1.0B
Q4 25	$3.0B	$2.1B	$937M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	5.2x	22.4x
Q2 23	5.4x	26.5x
Q3 23	5.5x	32.5x
Q4 23	5.6x	37.2x
Q1 24	5.7x	48.1x
Q2 24	5.6x	37.9x
Q3 24	5.6x	28.1x
Q4 24	5.6x	25.9x
Q1 25	5.6x	20.5x
Q2 25	5.6x	20.3x
Q3 25	5.6x	23.0x
Q4 25	5.6x	23.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.2B	$745M
Q2 23	$673M	$153M
Q3 23	$660M	$112M
Q4 23	$673M	-$180M
Q1 24	$839M	-$1.4B
Q2 24	$1.0B	$467M
Q3 24	$1.2B	$645M
Q4 24	$951M	$276M
Q1 25	$950M	$501M
Q2 25	$1.1B	$602M
Q3 25	$1.3B	$720M
Q4 25	$1.1B	$2.5B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$428M
Q2 23	$520M
Q3 23	$548M
Q4 23	$853M
Q1 24	$2.2B
Q2 24	$569M
Q3 24	$581M
Q4 24	$675M
Q1 25	$449M
Q2 25	$475M
Q3 25	$551M
Q4 25	$1.5B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+7.4%	+32.0%
Q2 23	-8.3%	+20.7%
Q3 23	-11.1%	+6.5%
Q4 23	-5.1%	+9.5%
Q1 24	-4.1%	+11.1%
Q2 24	+2.1%	-19.9%
Q3 24	+2.7%	-19.3%
Q4 24	-1.6%	-15.2%
Q1 25	-0.4%	-23.7%
Q2 25	+2.2%	+3.3%
Q3 25	+1.7%	+15.5%
Q4 25	-1.7%	+5.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$11M	0.4%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 25	$753M

Revenue Segments

Quarter	Railway Operating Revenues Market Group Coal	Railway Operating Revenues Market Group Intermodal	Railway Operating Revenues Market Group Merchandise
Q1 23	$440M	$814M	$1.9B
Q2 23	$409M	$745M	$1.8B
Q3 23	$434M	$737M	$1.8B
Q4 23	$430M	$794M	$1.8B
Q1 24	$396M	$745M	$1.9B
Q2 24	$398M	$742M	$1.9B
Q3 24	$427M	$763M	$1.9B
Q1 25	$370M	$760M	$1.9B
Q2 25	$395M	$743M	$2.0B
Q3 25	$375M	$759M	$2.0B
Q4 25	$347M	$747M	$1.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$552M	$0	$552M
Q2 23	$556M	$0	$556M
Q3 23	$1.5B	$0	$1.5B
Q4 23	$1.6B	$0	$1.6B
Q1 24	$652M	$0	$652M
Q2 24	$659M	$0	$659M
Q3 24	$975M	$0	$975M
Q4 24	$1.6B	$0	$1.6B
Q1 25	$1.0B	$0	$1.0B
Q2 25	$1.3B	$0	$1.3B
Q3 25	$1.4B	$0	$1.4B
Q4 25	$1.5B	$0	$1.5B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	228M	-1.0%
Q2 23	228M	-0.1%
Q3 23	227M	-0.4%
Q4 23	226M	-0.3%
Q1 24	226M	+0.0%
Q2 24	226M	+0.0%
Q3 24	227M	+0.0%
Q4 24	227M	+0.0%
Q1 25	227M	+0.0%
Q2 25	225M	-0.7%
Q3 25	225M	-0.1%
Q4 25	225M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$394K	29K
FY 15	$345K	30K
FY 16	$353K	28K
FY 17	$389K	27K
FY 18	$430K	27K
FY 19	$459K	25K
FY 20	$485K	20K
FY 21	$602K	19K
FY 22	$674K	19K
FY 23	$599K	20K
FY 24	$600K	20K
FY 25	$628K	19K