CNI
Canadian National Railway Company
NYSE: CNI · INDUSTRIALS · RAILROADS
$112.12
+3.74% today
Updated 2026-04-30
Market cap
$70.07B
P/E ratio
20.69
P/S ratio
4.05x
EPS (TTM)
$5.54
Dividend yield
3.11%
52W range
$90 – $115
Volume
1.7M
Canadian National Railway Company (CNI) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.93B | $7.90B | $8.48B | $7.37B | $8.30B | $9.03B | $9.92B | $10.57B | $12.13B | $12.61B | $12.04B | $13.04B | $14.32B | $14.92B | $13.82B | $14.48B | $17.11B | $16.83B | $17.05B | $17.29B |
| Revenue growth (YoY) | — | -0.4% | +7.4% | -13.1% | +12.6% | +8.8% | +9.9% | +6.6% | +14.7% | +3.9% | -4.6% | +8.3% | +9.8% | +4.2% | -7.4% | +4.8% | +18.2% | -1.6% | +1.3% | +1.4% |
| Cost of revenue | $1.93B | $2.32B | $2.80B | $2.13B | $4.91B | $5.46B | $5.90B | $6.41B | $7.14B | $6.95B | $6.64B | $7.37B | $8.36B | $8.83B | $8.05B | $8.41B | $9.71B | $9.68B | $10.08B | $9.53B |
| Gross profit | $5.79B | $5.58B | $5.68B | $5.24B | $3.39B | $3.57B | $4.02B | $4.17B | $4.99B | $5.66B | $5.39B | $5.67B | $5.96B | $6.08B | $5.77B | $6.07B | $7.40B | $7.15B | $6.97B | $7.76B |
| Gross margin | 73.0% | 70.6% | 67.0% | 71.1% | 40.9% | 39.6% | 40.6% | 39.4% | 41.1% | 44.9% | 44.8% | 43.5% | 41.6% | 40.8% | 41.8% | 41.9% | 43.2% | 42.5% | 40.9% | 44.9% |
| R&D | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — |
| SG&A | $2.00B | $2.03B | $2.06B | $2.04B | $2.11B | $2.09B | $2.20B | $2.46B | $2.65B | $2.78B | $280.00M | $315.00M | $302.00M | $321.00M | $292.00M | $407.00M | $498.00M | $479.00M | $3.81B | $3.94B |
| Operating income | $3.03B | $2.88B | $2.89B | $2.41B | $3.02B | $3.30B | $3.69B | $3.87B | $4.62B | $5.27B | $5.03B | $5.24B | $5.49B | $5.59B | $4.78B | $5.62B | $6.84B | $6.60B | $6.25B | $6.58B |
| Operating margin | 38.2% | 36.4% | 34.1% | 32.7% | 36.4% | 36.5% | 37.1% | 36.6% | 38.1% | 41.8% | 41.8% | 40.2% | 38.4% | 37.5% | 34.6% | 38.8% | 40.0% | 39.2% | 36.6% | 38.1% |
| EBITDA | $3.68B | $3.72B | $3.65B | $3.46B | $4.07B | $4.58B | $4.92B | $4.93B | $5.78B | $6.47B | $6.63B | $6.85B | $7.50B | $7.53B | $6.66B | $8.55B | $9.04B | $9.03B | $8.63B | $9.11B |
| EBITDA margin | 46.4% | 47.1% | 43.0% | 47.0% | 49.1% | 50.7% | 49.6% | 46.6% | 47.6% | 51.3% | 55.1% | 52.5% | 52.4% | 50.5% | 48.2% | 59.1% | 52.8% | 53.6% | 50.7% | 52.7% |
| EBIT | $3.03B | $3.04B | $2.92B | $2.67B | $3.24B | $3.70B | $4.00B | $3.95B | $4.73B | $5.31B | $5.41B | $5.57B | $6.17B | $5.97B | $5.08B | $6.95B | $7.31B | $7.21B | $6.74B | $7.17B |
| Interest expense | $0.00 | $336.00M | $375.00M | $412.00M | $360.00M | $341.00M | $342.00M | $357.00M | $371.00M | $439.00M | $480.00M | $481.00M | $489.00M | $538.00M | $554.00M | $610.00M | $548.00M | $722.00M | $891.00M | $912.26M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $2.09B | $2.16B | $1.90B | $1.85B | $2.10B | $2.46B | $2.68B | $2.61B | $3.17B | $3.54B | $3.64B | $5.48B | $4.33B | $4.22B | $3.54B | $4.90B | $5.12B | $5.63B | $4.45B | $4.72B |
| Net income growth (YoY) | — | +3.4% | -12.2% | -2.2% | +13.5% | +16.8% | +9.1% | -2.5% | +21.2% | +11.7% | +2.9% | +50.7% | -21.1% | -2.6% | -15.9% | +38.2% | +4.5% | +9.9% | -20.9% | +6.0% |
| Profit margin | 26.3% | 27.3% | 22.3% | 25.2% | 25.4% | 27.2% | 27.0% | 24.7% | 26.1% | 28.1% | 30.2% | 42.1% | 30.2% | 28.3% | 25.7% | 33.8% | 29.9% | 33.4% | 26.1% | 27.3% |