NSC · XBRL financial data

Norfolk Southern financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (NSC's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	9,789	11,142	12,745	12,156	12,123	12,180
Other operating income (expense)	—	—	160	226	273	—
Operating income (loss)	3,002	4,447	4,809	2,851	4,071	4,356
Interest expense	625	646	692	722	807	792
Other income (expense)	153	77	13	191	65	101
Income tax expense (benefit)	517	873	860	493	707	792
Net income (loss)	2,013	3,005	3,270	1,827	2,622	2,873
Earnings per share, basic USD per share	7.88	12.16	13.92	8.04	11.58	12.76
Earnings per share, diluted USD per share	7.84	12.11	13.88	8.02	11.57	12.75
Weighted average shares, basic millions of shares	255	247	235	227	226	225
Weighted average shares, diluted millions of shares	257	248	236	227	226	225

Fiscal years (NSC's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	1,115	839	456	1,568	1,641	1,530
Accounts receivable	848	976	1,148	1,147	1,069	988
Total current assets	2,318	2,167	2,007	3,271	3,188	3,198
Property and equipment, net	31,345	31,653	32,156	33,326	35,831	36,479
Right-of-use asset	433	411	407	390	271	218
Total assets	37,962	38,493	38,885	41,652	43,682	45,236
Accounts payable	1,016	1,351	1,293	1,638	1,704	1,863
Total current liabilities	2,160	2,521	2,649	2,632	3,545	3,775
Lease liability, non-current	344	331	316	287	191	148
Total liabilities	23,171	24,852	26,152	28,871	29,376	29,689
Retained earnings	12,883	11,586	10,697	10,695	12,093	13,235
Total stockholders' equity	14,791	13,641	12,733	12,781	14,306	15,547
Total liabilities and equity	37,962	38,493	38,885	41,652	43,682	45,236
Common shares outstanding (cover page) millions of shares	252	240	228	226	226	225

Fiscal years (NSC's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	2,013	3,005	3,270	1,827	2,622	2,873
Depreciation and amortization	1,154	1,181	1,221	1,298	1,353	1,393
Net cash from operating activities	3,637	4,255	4,222	3,179	4,052	4,361
Purchases of property and equipment	1,494	1,470	1,948	2,349	2,381	2,204
Net cash from investing activities	(1,175)	(1,222)	(1,603)	(2,182)	(2,780)	(2,562)
Share repurchases	1,439	3,390	3,110	622	0	534
Dividends paid	960	1,028	1,167	1,225	1,221	1,215
Net cash from financing activities	(1,927)	(3,309)	(3,002)	115	(1,199)	(1,910)
Net change in cash	535	(276)	(383)	1,112	73	(111)

SIC 4011 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 4011 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Norfolk Southern	1,598	3,526	1,322*	224.6M	Q3 FY26 10-QSep 30, 2026
CSX	1,223	4,017	1,617*	1.8B	Q3 FY26 10-QSep 30, 2026
Canadian Pacific Kansas City	399	4,192	not reported	869.6M	Q3 FY26 10-QSep 30, 2026
Union Pacific	2,211	7,197	2,786*	594.3M	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.