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 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 4,753 | 4,379 | 4,464 | 4,165 | 4,272 | 4,403 | 4,358 | 4,110 | 4,329 | 4,249 | 4,471 | 3,987 |
| Cost of revenue | 2,162 | 1,999 | 1,887 | 1,773 | 1,830 | 2,008 | 1,947 | 1,859 | 1,962 | 1,965 | 1,921 | 1,761 |
| Gross profit | 2,591 | 2,380 | 2,577 | 2,392 | 2,442 | 2,395 | 2,411 | 2,251 | 2,367 | 2,284 | 2,550 | 2,226 |
| Operating income | 1,914 | 1,682 | 1,893 | 1,731 | 1,764 | 1,735 | 1,741 | 1,629 | 1,750 | 1,659 | 1,937 | 1,638 |
| EBIT | 1,914 | 1,682 | 1,893 | 1,731 | 1,764 | 1,735 | 1,741 | 1,629 | 1,750 | 1,659 | 1,937 | 1,638 |
| EBITDA | 2,400 | 2,166 | 2,349 | 2,231 | 2,253 | 2,228 | 2,230 | 2,104 | 2,216 | 2,121 | 2,400 | 2,095 |
| Interest expense | 241 | 234 | 244 | 223 | 219 | 233 | 231 | 230 | 220 | 210 | 199 | 185 |
| Pre-tax income | 1,680 | 1,521 | 1,669 | 1,507 | 1,561 | 1,527 | 1,508 | 1,409 | 1,484 | 1,451 | 1,872 | 1,451 |
| Income tax | 431 | 375 | 421 | 368 | 389 | 366 | 362 | 324 | 370 | 348 | -258 | 343 |
| Net income | 1,249 | 1,146 | 1,248 | 1,139 | 1,172 | 1,161 | 1,146 | 1,085 | 1,114 | 1,103 | 2,130 | 1,108 |
| Net income to common shareholders | 1,249 | 1,146 | 1,248 | 1,139 | 1,172 | 1,161 | 1,146 | 1,085 | 1,114 | 1,103 | 2,130 | 1,108 |
| Basic EPS | 2.06 | 1.87 | 2.03 | 1.83 | 1.87 | 1.85 | 1.82 | 1.72 | 1.75 | 1.72 | 3.30 | 1.69 |
| Diluted EPS | 2.06 | 1.87 | 2.03 | 1.83 | 1.87 | 1.85 | 1.82 | 1.72 | 1.75 | 1.72 | 3.29 | 1.69 |
| Average shares (basic) | 607 | 611 | 615 | 622 | 627 | 628 | 629 | 630 | 635 | 641 | 646 | 654 |
| Average shares (diluted) | 608 | 612 | 616 | 622 | 628 | 628 | 630 | 631 | 636 | 642 | 648 | 656 |
| Dividend per share | 0.92 | 0.92 | 0.89 | 0.89 | 0.89 | 0.89 | 0.85 | 0.85 | 0.85 | 0.85 | 0.79 | 0.79 |