Norfolk Southern revenue and financials
$316.31Change from previous close: +0.03%Absolute change: +$0.08
In the fiscal year ended December 2025, Norfolk Southern reported revenue of $12.18B (+0.47% year over year). Net income was $2.87B, a net margin of 23.6%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +0.47%
- 2025 vs 2024
- Net income growth
- +9.57%
- 2025 vs 2024
- Net margin
- 23.6%
- 2024: 21.6%
Financial data
Amounts in millions of USD; per-share values in USD; 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1,054 | 344 | 1,063 | 1,271 | 1,077 | 950 | 951 | 1,226 | 1,036 | 839 | 673 | 660 |
| Depreciation and amortization | 358 | 352 | 353 | 348 | 346 | 346 | 342 | 339 | 335 | 337 | 330 | 326 |
| Capital expenditure | -439 | -382 | -729 | -551 | -475 | -449 | -675 | -581 | -569 | -2,199 | -853 | -548 |
| Investing cash flow | -416 | -213 | -644 | -483 | -414 | -1,021 | 11.0 | -224 | -723 | -1,844 | -788 | -653 |
| Financing cash flow | -910 | -320 | -307 | -673 | -366 | -564 | -296 | -686 | -306 | 89.0 | 177 | 943 |
| Dividends paid | -303 | -303 | -303 | -303 | -303 | -306 | -306 | -305 | -305 | -305 | -305 | -305 |
| Share repurchases | -1.0 | -16.0 | — | -70.0 | -207 | -257 | — | — | — | -6.0 | -110 | -200 |
| Debt issued | — | — | — | — | 396 | — | — | 451 | 200 | 400 | 990 | 1,579 |
| Debt repaid | -606 | -1.0 | -5.0 | -301 | -252 | -1.0 | -1.0 | -852 | -202 | — | -401 | -131 |
| Net change in cash | -272 | -189 | 112 | 115 | 297 | -635 | 666 | 316 | 7.0 | -916 | 62.0 | 950 |
| Free cash flow | 615 | -38.0 | 334 | 720 | 602 | 501 | 276 | 645 | 467 | -1,360 | -180 | 112 |
| Levered free cash flow | 530 | 89.3 | 224 | 539 | 447 | 243 | 148 | 617 | 372 | -868 | -146 | 164 |