Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
NSC · NYSE · United States · Railroads, Line-Haul Operating
In shortNORFOLK SOUTHERN CORP is profitable, generates cash and carries moderate debt, with revenue stable (+0.5% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 35.8% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 23.6% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 19.2% | 96/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 10.5% | 70/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.85× | 4/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.10× | 50/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 2.71× | 37/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 5.50× | 38/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 2.07 | 25/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 17.7% | 91/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.75× | 56/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 8.8% | 79/100 |
| Operating margin volatility | 6.4% | 51/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -1.5% | 8/100 |
|---|---|---|
| EPS growth, 3-year average | -2.8% | 11/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 11,142 | 12,745 | 12,156 | 12,123 | 12,180 |
| Operating income | 4,447 | 4,809 | 2,851 | 4,071 | 4,356 |
| Interest expense | 646 | 692 | 722 | 807 | 792 |
| Pre-tax income | 3,878 | 4,130 | 2,320 | 3,329 | 3,665 |
| Income tax | 873 | 860 | 493 | 707 | 792 |
| Net income | 3,005 | 3,270 | 1,827 | 2,622 | 2,873 |
| Diluted EPS | $12.11 | $13.88 | $8.02 | $11.57 | $12.75 |
| Diluted shares (millions) | 248 | 236 | 227 | 226 | 225 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
2.07 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Sep 30, 2026 · Data updated Oct 22, 2026