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Norfolk Southern
(NYSE:NSC)
Norfolk Southern (NSC) vs. SPDR S&P 500 ETF (SPY)
Norfolk Southern Business Overview & Revenue Model
Norfolk Southern Key Performance Indicators (KPIs)
Shows revenue generated from different business segments, highlighting which areas are driving growth and profitability, and helping assess the company's strategic focus and market position.
Main Street DataNorfolk Southern Earnings Call Summary
Norfolk Southern Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.23B | 12.12B | 12.16B | 12.74B | 11.14B | 9.79B |
| Gross Profit | 4.16B | 3.76B | 2.81B | 4.73B | 4.37B | 3.40B |
| EBITDA | 6.01B | 5.49B | 4.34B | 6.04B | 5.71B | 4.31B |
| Net Income | 2.96B | 2.62B | 1.83B | 3.27B | 3.00B | 2.01B |
Balance Sheet | ||||||
| Total Assets | 44.58B | 43.68B | 41.65B | 38.88B | 38.49B | 37.96B |
| Cash, Cash Equivalents and Short-Term Investments | 1.42B | 1.64B | 1.57B | 456.00M | 839.00M | 1.11B |
| Total Debt | 17.08B | 17.48B | 17.57B | 15.59B | 14.25B | 13.11B |
| Total Liabilities | 29.44B | 29.38B | 28.87B | 26.15B | 24.85B | 23.17B |
| Stockholders Equity | 15.14B | 14.31B | 12.78B | 12.73B | 13.64B | 14.79B |
Cash Flow | ||||||
| Free Cash Flow | 2.10B | 1.67B | 830.00M | 2.27B | 2.79B | 2.14B |
| Operating Cash Flow | 4.25B | 4.05B | 3.18B | 4.22B | 4.25B | 3.64B |
| Investing Cash Flow | -1.91B | -2.78B | -2.18B | -1.60B | -1.22B | -1.18B |
| Financing Cash Flow | -1.90B | -1.20B | 115.00M | -3.00B | -3.31B | -1.93B |
Norfolk Southern Technical Analysis
Norfolk Southern Risk Analysis
Norfolk Southern Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $67.07B | 23.42 | 22.60% | 1.42% | -3.80% | -17.32% | |
| ― | $58.74B | 14.59 | 14.98% | 2.23% | 1.14% | 4.99% | |
| ― | C$83.95B | 18.54 | 21.83% | 2.61% | 0.63% | -14.20% | |
| ― | $130.71B | 18.71 | 41.62% | 2.45% | 1.06% | 8.21% | |
| ― | $16.08B | 29.23 | 15.13% | 1.05% | -1.60% | 4.87% | |
| ― | $69.35B | 21.62 | 20.46% | 1.87% | 0.48% | 22.88% | |
| ― | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
Norfolk Southern Corporate Events
The potential merger involving Norfolk Southern Corp is fraught with uncertainties, as it hinges on various conditions that may not be met, including approvals from Union Pacific shareholders and regulatory bodies. Failure to complete the merger could lead to significant adverse effects, such as a decline in stock prices, substantial termination fees, and potential litigation. Additionally, the company faces business uncertainties and contractual restrictions during the pending merger, which could negatively impact its operations and financial performance. The delay or failure of the merger could also result in a loss of key management personnel, further exacerbating the company’s challenges.
The recent earnings call of Norfolk Southern Corp. presented a mixed sentiment, showcasing positive strides in operational efficiencies and safety improvements, yet overshadowed by significant revenue shortfalls and competitive pressures. While internal improvements and future opportunities related to a proposed merger were highlighted, the current challenges posed by competition and market conditions cast a shadow over the company’s outlook.
Norfolk Southern Corporation, a major player in the freight transportation sector, operates a 22-state network and is known for its extensive intermodal capabilities and commitment to sustainability.
On October 23, 2025, Norfolk Southern Corporation announced its third-quarter financial results for 2025, reporting a revenue of $3.1 billion and an income from railway operations of $1.1 billion. Despite a decrease in income from railway operations compared to the previous year due to a $380 million benefit from railway line sales in 2024, the company achieved a record in fuel efficiency and executed a significant land sale expected to boost future rail volumes. Adjusted results showed a slight improvement in operating ratio and earnings per share compared to the previous year, reflecting the company’s focus on safety, service, and productivity amidst a dynamic freight market.
The most recent analyst rating on (NSC) stock is a Buy with a $323.00 price target. To see the full list of analyst forecasts on Norfolk Southern stock, see the NSC Stock Forecast page.
Union Pacific Corporation is set to acquire Norfolk Southern Corporation through a merger agreement announced on July 28, 2025. The merger, which involves two stages, will result in Norfolk Southern becoming a wholly owned subsidiary of Union Pacific. Shareholders of Norfolk Southern will receive Union Pacific common stock and cash as part of the merger consideration. Upon completion, former Norfolk Southern shareholders will own approximately 27% of Union Pacific’s outstanding common stock. This strategic acquisition is expected to enhance Union Pacific’s market position in the rail transportation industry.
The most recent analyst rating on (NSC) stock is a Buy with a $347.00 price target. To see the full list of analyst forecasts on Norfolk Southern stock, see the NSC Stock Forecast page.
On September 23, 2025, Norfolk Southern‘s Board of Directors approved one-time cash retention awards for its named executive officers as part of a transaction bonus program. This initiative, linked to the merger agreement with Union Pacific Corporation, aims to ensure leadership stability and focus amid the merger’s uncertainty, benefiting the company’s stakeholders.
The most recent analyst rating on (NSC) stock is a Buy with a $339.00 price target. To see the full list of analyst forecasts on Norfolk Southern stock, see the NSC Stock Forecast page.
Norfolk Southern Corporation is a leading freight transportation company operating a 22-state network in the United States, known for its extensive intermodal network and commitment to sustainability. In its second quarter of 2025, Norfolk Southern reported a 4% increase in net income and a 5% rise in earnings per share, with adjusted figures showing even stronger growth. The company achieved $3.1 billion in revenue and $1.2 billion in income from railway operations, reflecting a robust performance despite market uncertainties. Key financial metrics included a 62.2% operating ratio and $3.41 diluted earnings per share, with adjusted figures showing improvements over the previous year. Looking ahead, Norfolk Southern expects a 2-3% revenue growth for the full year and anticipates further improvements in its operating ratio, although it acknowledges potential challenges in the third quarter. The company also announced a significant merger with Union Pacific, aiming to create America’s first transcontinental railroad, a move that could reshape the industry landscape.
On July 28, 2025, Norfolk Southern Corporation entered into a merger agreement with Union Pacific Corporation, which will see Union Pacific acquire Norfolk Southern in a stock-and-cash transaction. The merger will result in Norfolk Southern becoming a wholly owned subsidiary of Union Pacific, with certain governance changes including the appointment of Norfolk Southern directors to Union Pacific’s board. The merger is subject to customary conditions, including shareholder and regulatory approvals, and includes provisions for termination fees in specific circumstances.
The most recent analyst rating on (NSC) stock is a Hold with a $275.00 price target. To see the full list of analyst forecasts on Norfolk Southern stock, see the NSC Stock Forecast page.
On July 29, 2025, Norfolk Southern Corporation reported its second-quarter financial results, showing a 4% increase in net income and a 5% rise in earnings per share. The company achieved $3.1 billion in revenue and $1.2 billion in income from railway operations, with an operating ratio of 62.2%. Adjusted figures, excluding restructuring costs and the Eastern Ohio incident, showed a 7% improvement in income from railway operations and an 8% increase in earnings per share. Norfolk Southern also announced a merger with Union Pacific to create the first transcontinental railroad in the U.S., valued at $85 billion. This merger is expected to significantly impact the company’s market position and operations.
The most recent analyst rating on (NSC) stock is a Hold with a $275.00 price target. To see the full list of analyst forecasts on Norfolk Southern stock, see the NSC Stock Forecast page.
On July 29, 2025, Norfolk Southern and Union Pacific announced a merger agreement to create America’s first transcontinental railroad, valued at over $250 billion. This merger is expected to transform the U.S. supply chain, enhance freight competition, and provide significant economic benefits, including job preservation and growth opportunities for employees.
The most recent analyst rating on (NSC) stock is a Hold with a $275.00 price target. To see the full list of analyst forecasts on Norfolk Southern stock, see the NSC Stock Forecast page.