Canadian National Railway revenue and financials
Secondary listing. The primary listing is Canadian National Railway · TSX (CAD)
$118.41Change from previous close: −0.76%Absolute change: −$0.91
In the fiscal year ended December 2025, Canadian National Railway reported revenue of $17.3B (+1.51% year over year). Net income was $4.72B, a net margin of 27.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +1.51%
- 2025 vs 2024
- Net income growth
- +6.12%
- 2025 vs 2024
- Net margin
- 27.3%
- 2024: 26.1%
Financial data
Amounts in millions of CAD; per-share values in CAD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | 17,304 | 17,046 | 16,828 | 17,107 | 14,477 |
| Cost of revenue | 7,498 | 7,733 | 7,381 | 7,484 | 6,364 |
| Gross profit | 9,806 | 9,313 | 9,447 | 9,623 | 8,113 |
| Selling, general and administrative | — | — | -479 | -498 | -407 |
| Operating income | 7,123 | 6,779 | 7,076 | 7,338 | 6,009 |
| EBIT | 7,123 | 6,779 | 7,076 | 7,338 | 6,009 |
| EBITDA | 9,061 | 8,671 | 8,893 | 9,067 | 7,607 |
| Interest expense | 913 | 891 | 722 | 548 | 610 |
| Pre-tax income | 6,264 | 5,852 | 6,488 | 6,763 | 6,342 |
| Income tax | 1,544 | 1,404 | 863 | 1,645 | 1,443 |
| Net income | 4,720 | 4,448 | 5,625 | 5,118 | 4,899 |
| Net income to common shareholders | 4,720 | 4,448 | 5,625 | 5,118 | 4,899 |
| Basic EPS | 7.58 | 7.02 | 8.55 | 7.46 | 6.91 |
| Diluted EPS | 7.57 | 7.01 | 8.53 | 7.44 | 6.90 |
| Average shares (basic) | 623 | 634 | 658 | 686 | 709 |
| Average shares (diluted) | 624 | 635 | 659 | 688 | 710 |
| Dividend per share | 3.55 | 3.38 | 3.16 | 2.93 | 2.46 |