NSC
Norfolk Southern Corporation
NYSE: NSC · INDUSTRIALS · RAILROADS
$315.83
+1.19% today
Updated 2026-04-30
Market cap
$70.93B
P/E ratio
26.63
P/S ratio
5.82x
EPS (TTM)
$11.86
Dividend yield
1.73%
52W range
$215 – $323
Volume
1.4M
Norfolk Southern Corporation (NSC) 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 | $9.41B | $9.43B | $10.66B | $7.97B | $9.52B | $11.17B | $11.04B | $11.24B | $11.62B | $10.51B | $9.89B | $10.55B | $11.46B | $11.30B | $9.79B | $11.14B | $12.74B | $12.16B | $12.12B | $12.18B |
| Revenue growth (YoY) | — | +0.3% | +13.0% | -25.3% | +19.4% | +17.4% | -1.2% | +1.9% | +3.4% | -9.6% | -5.9% | +6.7% | +8.6% | -1.4% | -13.3% | +13.8% | +14.4% | -4.6% | -0.3% | +0.5% |
| Cost of revenue | $6.85B | $6.86B | $7.58B | $6.01B | $6.85B | $7.97B | $7.92B | $7.99B | $8.05B | $7.63B | $6.82B | $7.03B | $7.50B | $7.40B | $6.39B | $6.78B | $8.01B | $6.06B | $8.36B | $7.01B |
| Gross profit | $2.56B | $2.57B | $3.08B | $1.96B | $2.67B | $3.21B | $3.12B | $3.25B | $3.57B | $2.88B | $3.07B | $3.52B | $3.96B | $3.89B | $3.40B | $4.37B | $4.73B | $6.10B | $3.76B | $5.17B |
| Gross margin | 27.2% | 27.3% | 28.9% | 24.6% | 28.0% | 28.7% | 28.2% | 28.9% | 30.7% | 27.4% | 31.0% | 33.4% | 34.6% | 34.5% | 34.7% | 39.2% | 37.1% | 50.2% | 31.0% | 42.4% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $3.20B | $2.55B | $2.68B | $2.40B | $2.71B | $2.97B | $117.00M | $65.00M | $111.00M | $138.00M | $20.00M | $112.00M | $61.00M | $63.00M | $91.00M | $102.00M | $-126.00M | $65.00M | $-120.00M | $753.00M |
| Operating income | $2.56B | $2.57B | $3.08B | $1.96B | $2.67B | $3.21B | $3.12B | $3.25B | $3.57B | $2.88B | $3.07B | $3.52B | $3.96B | $3.89B | $3.40B | $4.37B | $4.73B | $2.85B | $3.76B | $4.01B |
| Operating margin | 27.2% | 27.3% | 28.9% | 24.6% | 28.0% | 28.7% | 28.2% | 28.9% | 30.7% | 27.4% | 31.0% | 33.4% | 34.6% | 34.5% | 34.7% | 39.2% | 37.1% | 23.5% | 31.0% | 32.9% |
| EBITDA | $3.47B | $3.49B | $4.01B | $2.94B | $3.67B | $4.24B | $4.17B | $4.42B | $4.65B | $4.09B | $4.21B | $4.73B | $5.13B | $5.23B | $4.31B | $5.71B | $6.04B | $2.85B | $5.49B | $5.85B |
| EBITDA margin | 36.9% | 37.0% | 37.6% | 36.9% | 38.6% | 38.0% | 37.8% | 39.3% | 40.0% | 38.9% | 42.6% | 44.9% | 44.8% | 46.3% | 44.0% | 51.2% | 47.4% | 23.5% | 45.3% | 48.0% |
| EBIT | $2.72B | $2.71B | $3.19B | $2.09B | $2.85B | $3.37B | $3.25B | $3.50B | $3.69B | $3.03B | $3.15B | $3.68B | $4.03B | $4.09B | $3.15B | $4.52B | $4.82B | $2.85B | $4.14B | $4.46B |
| Interest expense | $0.00 | $441.00M | $444.00M | $467.00M | $462.00M | $455.00M | $504.00M | $537.00M | $557.00M | $545.00M | $569.00M | $550.00M | $557.00M | $604.00M | $625.00M | $646.00M | $692.00M | $722.00M | $807.00M | $792.00M |
| 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 | $1.48B | $1.46B | $1.72B | $1.03B | $1.50B | $1.92B | $1.75B | $1.91B | $2.00B | $1.56B | $1.67B | $5.40B | $2.67B | $2.72B | $2.01B | $3.00B | $3.27B | $1.83B | $2.62B | $2.87B |
| Net income growth (YoY) | — | -1.1% | +17.2% | -39.7% | +44.7% | +28.1% | -8.7% | +9.2% | +4.7% | -22.2% | +7.2% | +224.0% | -50.7% | +2.1% | -26.0% | +49.3% | +8.8% | -44.1% | +43.5% | +9.6% |
| Profit margin | 15.7% | 15.5% | 16.1% | 13.0% | 15.7% | 17.2% | 15.8% | 17.0% | 17.2% | 14.8% | 16.9% | 51.2% | 23.3% | 24.1% | 20.6% | 27.0% | 25.7% | 15.0% | 21.6% | 23.6% |