Norfolk Southern runs a freight railroad across the Eastern U.S., operating roughly 20,000 route miles. It moves coal, intermodal containers, autos, agricultural goods, metals, chemicals, and forest products for industrial and commercial shippers. Revenue comes from fees charged per shipment based on commodity type, distance, and volume.
Employees19,300IPOJun 2, 1982SIC4011HQ650 West Peachtree Street NW, Atlanta, GA, USA, 30308-1925
to
Financials
Profitability
Metric
Current
Margins
Gross Margin
35.5%
Operating Margin
36.7%
EBITDA Margin
44.3%
Net Margin
21.0%
OCF Margin
29.8%
FCF Margin
13.0%
Returns on Capital
ROE
17.0%
ROA
5.9%
ROIC
8.3%
ROCE
10.0%
ROC (Greenblatt)
11.4%
3Y ROIIC
−9.4%
Consistency
Years Profitable / 10Y
10
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
27.89
Forward P/E
25.24
P/E ex-NRI
25.76
Shiller P/E (CAPE)
24.00
Cash Flow Multiples
P/FCF
45.01
P/OCF
19.65
P/Owner Earnings
30.98
FCF Yield
2.22%
Enterprise Value Multiples
EV / EBIT
21.44
EV / Forward EBIT
21.18
EV / EBITDA
16.01
EV / Forward EBITDA
15.79
EV / Revenue
7.09
EV / Forward Revenue
6.87
Asset / Sales
P/S
5.83
P/B
4.52
P/Tangible Book
4.52
Growth-Adjusted
PEG
4.29
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
1.66%
Forward Dividend Yield
1.66%
3Y Dividend Growth
2.9%
Payout Ratio
0.43
5Y Yield on Cost
2.38%
Buybacks & Dilution
3Y Buyback Ratio
0.50%
5Y Share Change
−12.5%
Combined
Shareholder Yield
2.13%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
1.02
Gross Debt / EBITDA
2.99
Cash / Debt
0.06
Equity / Assets
0.36
Coverage
Interest Coverage
5.86
Short-Term Liquidity
Current Ratio
0.83
Quick Ratio
0.73
Cash Ratio
0.32
Composite Scores
Piotroski F-Score
6
Altman Z-Score
2.57
Split History
Date
Split
1997-10-10
3:1
1987-04-07
3:1
Ex-date
Amount
Pay date
2026-08-07
$1.35
2026-08-20
2026-05-08
$1.35
2026-05-20
2026-02-06
$1.35
2026-02-20
2025-11-07
$1.35
2025-11-20
2025-08-01
$1.35
2025-08-20
2025-05-02
$1.35
2025-05-20
2025-02-07
$1.35
2025-02-20
2024-11-01
$1.35
2024-11-20
2024-08-02
$1.35
2024-08-20
2024-05-02
$1.35
2024-05-20
10 of 163
View allDate
Transcript
Type
2026-07-23
Q2 2026 Norfolk Southern Corp Earnings Call Transcript
Earnings Call
2026-05-19
Norfolk Southern Corp at Wolfe Research Global Transportation & Industrials Conference Transcript
Conference Presentations
2026-05-12
Norfolk Southern Corp at Bank of America Industrials, Transportation & Airlines Key Leaders Conference Transcript
Conference Presentations
2026-04-24
Q1 2026 Norfolk Southern Corp Earnings Call Transcript
Earnings Call
2026-03-17
Norfolk Southern Corp at JPMorgan Industrials Conference Transcript
Conference Presentations
2026-01-29
Q4 2025 Norfolk Southern Corp Earnings Call Transcript
Earnings Call
2025-12-19
Union Pacific Corp and Norfolk Southern Corp Merger Application Conference Call Transcript
Corporate Presentation
2025-10-23
Q3 2025 Norfolk Southern Corp Earnings Call Transcript
Earnings Call
2025-07-29
Q2 2025 Norfolk Southern Corp Earnings Call and America's First Transcontinental Railroad with Union Pacific Corp Transcript
Earnings Call
2025-04-23
Q1 2025 Norfolk Southern Corp Earnings Call Transcript
Earnings Call
10 of 74
5-Step DuPont Analysis
ROE %
16.98%
×
×
Net Margin %
21.02%
×
×
Operating Margin %
36.72%
Operating Income
$4.61B
÷
Revenue
$12.54B
×
Tax Burden
0.7838
Net Income
$2.64B
÷
Pretax Income
$3.36B
×
Interest Burden
0.7303
Pretax Income
$3.36B
÷
Operating Income
$4.61B
×
Asset Turnover
0.28
÷
Revenue
$12.54B
÷
Average Total Assets
$44.64B
Begin Total Assets
$44.16B
End Total Assets
$45.12B
×
Equity Multiplier
2.88
÷
Avg Total Assets
$44.64B
÷
Avg Stockholders Equity
$15.52B
Begin Equity
$14.79B
End Equity
$16.25B
Top institutional holders
Q2 2026| Holder | Shares | % Owned | Chg. shares | |
|---|---|---|---|---|
| BlackRock, Inc. | 16.0M | 7.12% | +724.2K | $5.03B |
| VANGUARD CAPITAL MANAGEMENT LLC | 14.7M | 6.53% | +79.5K | $4.61B |
| STATE STREET CORP | 10.2M | 4.56% | +408.8K | $3.22B |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 7.2M | 3.21% | +3.2M | $2.27B |
| MILLENNIUM MANAGEMENT LLC | 5.2M | 2.32% | +617.6K | $1.64B |
| GEODE CAPITAL MANAGEMENT, LLC | 5.1M | 2.28% | +38.1K | $1.60B |
| BANK OF AMERICA CORP /DE/ | 3.1M | 1.39% | -89.2K | $978.98M |
| NORGES BANK | 3.0M | 1.35% | new | $956.55M |
| Pentwater Capital Management LP | 2.8M | 1.24% | -445.0K | $872.99M |
| NORTHERN TRUST CORP | 2.6M | 1.16% | -23.3K | $822.47M |
10 of 1,873
View allTop insider holdings
as reported| Insider | Shares held | % Owned | |
|---|---|---|---|
| George Mark ROfficer | 22.8K | 0.0101% | $7.45M |
| Fahmy SamehDirector | 12.0K | 0.0053% | $3.92M |
| Orr John FOfficer | 11.4K | 0.0051% | $3.71M |
| ANDERSON RICHARD HDirector | 7.0K | 0.0031% | $2.29M |
| Moore Claiborne LOfficer | 5.0K | 0.0022% | $1.62M |
| Zampi Jason AndrewOfficer | 4.1K | 0.0018% | $1.36M |
| LAMPHERE GILBERT HDirector | 3.6K | 0.0016% | $1.19M |
| Elkins Claude EOfficer | 3.4K | 0.0015% | $1.10M |
| Bhatt AnilOfficer | 2.0K | 0.0009% | $666.6K |
| Huffard John C JrDirector | — | — | — |
10 of 11· 1 withheld
View allRecent insider activity
through Oct 8, 2026| Insider | Action | Shares | Date | |
|---|---|---|---|---|
| Huffard John C JrDirector | Will or Inheritance | +333 | $0 | Oct 8, 2026 |
| George Mark ROfficer | Option Exercise (Rule 16b-3 Exempt) | +2.7K | $0 | Sep 13, 2026 |
| George Mark ROfficer | Tax Withholding | -1.0K | $334.6K | Sep 13, 2026 |
| Orr John FOfficer | Option Exercise (Rule 16b-3 Exempt) | +8.3K | $0 | Apr 26, 2026 |
| Orr John FOfficer | Tax Withholding | -3.2K | $1.04M | Apr 26, 2026 |
| LAMPHERE GILBERT HDirector | Option Exercise (Rule 16b-3 Exempt) | +700 | $0 | Jan 30, 2026 |
| Moore Claiborne LOfficer | Option Exercise (Rule 16b-3 Exempt) | +421 | $0 | Jan 30, 2026 |
| Moore Claiborne LOfficer | Option Exercise (Rule 16b-3 Exempt) | +252 | $0 | Jan 30, 2026 |
| Moore Claiborne LOfficer | Tax Withholding | -69 | $20.0K | Jan 30, 2026 |
| Moore Claiborne LOfficer | Tax Withholding | -115 | $33.3K | Jan 30, 2026 |
10 of 3,095
View all