Stocktoria

NORFOLK SOUTHERN CORP NSC

NYSE · stock · Railroads, Line-Haul Operating · website · IPO 1982-06-02 · LEI

NORFOLK SOUTHERN CORP statistics & valuation

Market cap$70.3B
P / E24.5×
P / S5.8×
P / B4.5×
P / FCF32.6×
Dividend yield1.73%
Net margin23.6%
Return on equity18.5%
FCF margin17.7%
Return on capital10.5%
Graham number -58.1%$140.70

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($140.70); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
51.20% 23.30% 24.10% 20.60% 27.00% 25.70% 15.00% 21.60% 23.60% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
30.40% 33.40% 34.60% 35.30% 30.70% 39.90% 37.70% 23.50% 33.60% 35.80% 2016201720182019202020212022202320242025
Return on equity (%)
33.00% 17.40% 17.90% 13.60% 22.00% 25.70% 14.30% 18.30% 18.50% 2016201720182019202020212022202320242025
Shares outstanding
296.0M 290.3M 280.2M 265.6M 256.6M 248.1M 235.6M 227.4M 226.4M 225.3M 2016201720182019202020212022202320242025
Net debt ($)
$9.16B $9.05B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
15.10% 7.40% 7.20% 5.30% 7.80% 8.40% 4.40% 6.00% 6.40% 2016201720182019202020212022202320242025
Free cash flow margin (%)
11.60% 14.50% 15.50% 16.60% 21.90% 25.00% 17.80% 7.00% 13.80% 17.70% 2016201720182019202020212022202320242025
Debt / equity (×)
0.81× 0.60× 2016201720182019202020212022202320242025
EPS ($)
$5.62 $18.61 $9.51 $10.25 $7.84 $12.11 $13.88 $8.02 $11.57 $12.75 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

NORFOLK SOUTHERN CORP trades at about 26.3× earnings — above its 10-year norm (10-year range 8.1×–30.2×, median 22.1×).

8.1× 30.2×

Shaded band = 10-year range (8.1×–30.2×); dot = today's 26.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin35.8%33.6%23.5%37.7%39.9%30.7%35.3%34.6%33.4%30.4%
Net margin23.6%21.6%15.0%25.7%27.0%20.6%24.1%23.3%51.2%—
FCF margin17.7%13.8%7.0%17.8%25.0%21.9%16.6%15.5%14.5%11.6%
Return on assets6.4%6.0%4.4%8.4%7.8%5.3%7.2%7.4%15.1%—
Return on equity18.5%18.3%14.3%25.7%22.0%13.6%17.9%17.4%33.0%—
Debt / equity————————0.60×0.81×
Current ratio0.850.901.240.760.861.070.900.720.840.98

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.