MARKETS / NYSE / NSC
NYSE · RAILROADS, LINE-HAUL OPERATING · LARGE CAP

Norfolk Southern Corp. NSC

19 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$12.2B
▲ 0.5% vs FY2024
EPS · FY25
$12.75
Dividend / sh · FY25
$5.40
Payout · FY25
42%
ROE · FY25
19.2%
Net margin · FY25
23.6%
Dividend coverage
2.4×
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Result
USD 12.2B
Revenue, FY2025 · full 19-year series below
Revenue Net income
48121612.22.92007201020132016201920222025
48121612.22.92016201920222025

24 cents of every revenue dollar became profit this year.

Per share
USD 12.75
Diluted EPS, FY2025
EPS Dividend
816245.4012.752007201020132016201920222025
816245.4012.752016201920222025

Earnings covered the dividend 2.4 times — the rest stayed in the company.

Profitability
19.2%
Return on equity, FY2025
ROE
1020304019.2%2007201020132016201920222025
1020304019.2%2016201920222025
Operating margin35.8%
Net margin23.6%
Return on assets6.5%

Each USD of equity produced 19 cents of profit this year.

Returned to shareholders
USD 1.7B
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 1.2B
Net buybacksUSD 517.0M
Share of profit60.3%
Consecutive raises

USD 1.2B in dividends and USD 517.0M in buybacks — 60% of the year's profit went back to shareholders.

Growth
+4.5% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
−1.5%
+4.5%
+1.5%
+1.7%
Net income
−4.2%
+7.4%
+6.3%
+4.4%
EPS, diluted
−2.8%
+10.2%
+9.6%
+8.0%
Dividend / share
+2.9%
+7.5%
+8.6%
+9.4%
Returned to shareholders
−25.9%
−5.5%
−0.2%
+2.0%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.22B
Shares outstanding, FY2025
0.370.222007201020132016201920222025
0.290.222016201920222025
Change, 5 years−11.0%
Change, 10 years−24.6%

The share count shrank 11% in five years — the same company, cut into fewer, larger slices.

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Balance sheet
USD 45.2B
total assets, end of FY2025
Total assetsUSD 45.2B
EquityUSD 15.5B
CashUSD 1.5B
Gross debtUSD 17.1B
Net debtUSD 15.6B
Current ratio0.85×

Net debt stands at 100% of equity.

History
19 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
Revenue $B
12.2
12.1
12.2
12.7
11.1
9.8
11.3
11.5
10.6
9.9
10.5
11.6
11.2
11.0
11.2
9.5
8.0
10.7
9.4
Operating income $B
4.4
4.1
2.9
4.8
4.4
3.0
4.0
4.0
3.5
3.0
2.9
3.6
3.3
3.1
3.2
2.7
2.0
3.1
2.6
EBITDA $B
5.7
5.4
4.1
6.0
5.6
4.2
5.1
5.1
4.6
4.0
3.9
4.5
4.2
4.0
4.1
3.5
2.8
3.9
3.4
Income tax $B
0.8
0.7
0.5
0.9
0.9
0.5
0.8
0.8
−2.3
0.9
0.9
1.1
1.1
1.0
1.0
0.9
0.6
1.0
0.8
Net income $B
2.9
2.6
1.8
3.3
3.0
2.0
2.7
2.7
5.4
1.7
1.6
2.0
1.9
1.7
1.9
1.5
1.0
1.7
1.5
EPS, diluted $
12.75
11.57
8.02
13.88
12.11
7.84
10.25
9.51
18.61
5.62
5.10
6.39
6.04
5.37
5.45
4.00
2.76
4.52
3.68
Dividend / sh $
5.40
5.40
5.40
4.96
4.16
3.76
3.60
3.04
2.44
2.36
2.36
2.22
2.04
1.94
1.66
1.40
1.36
1.22
0.96
Payout %
42
47
67
36
34
48
35
32
13
42
46
34
33
36
30
34
48
27
26
ROE %
19.2
19.4
14.3
24.8
21.1
13.4
17.8
16.8
37.6
13.4
·
·
·
·
·
·
·
·
·
Shares out B
0.22
0.23
0.23
0.23
0.24
0.25
0.26
0.27
0.28
0.29
0.30
0.31
0.31
0.31
0.33
0.36
0.37
0.37
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
51 of 51
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed