“...pleasure and pain, they come and go and don't last... bear them patiently”
—Gita
Pathos InvestmentsEquity Research
Research  ›  Fact Sheets  ›  NSC

NORFOLK SOUTHERN CORP

LISTEDNYSE
SYMBOLNSC
SIC4011
STATE OF INC.VA
FISCAL YEAR ENDSDecember 31
CIK702165

RAILROADS, LINE-HAUL OPERATING · LARGE ACCELERATED FILER · 10 FISCAL YEARS OF SEC XBRL DATA, 2016–2025

REVENUES, NET INCOME AND FREE CASH FLOW BY FISCAL YEAR$ billions0510152016201720182019202020212022202320242025RevenuesNet incomeFree cash flowEARNINGS AND DIVIDENDS PER SHARE$ per share0.005.0010.0015.0020.002016201720182019202020212022202320242025EPS dilutedDividends per share

Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.

CAPITALIZATION 12/31/25

($ millions)Amount%
Total debt17,08752.4
Stockholders' equity15,54747.6
Total capitalization32,634100.0

224,608,373 shares outstanding at 30 June 2026 (cover page of the 10-Q filed 23 July 2026).

LONG-TERM DEBT 12/31/25

($ millions)Amount
Long-term debt, noncurrent16,480
Current maturities607

CAPITAL STOCK 12/31/25

Common shares authorized1,350,000,000
Common shares issued224,420,699
Treasury shares20,320,777
Par or stated value per share ($)1
Outstanding at 6/30/26224,608,373

DIVIDENDS DECLARED/PAID

Fiscal yearPer share $Payout %
20255.4042.4
20245.4046.7
20235.4067.3
20224.9635.7
20214.1634.4

HISTORY AND BUSINESS

HISTORY: Incorporated in Virginia.

BUSINESS: Classified by the SEC under Standard Industrial Classification 4011, Railroads, Line-Haul Operating. Large accelerated filer. Principal executive office: 650 W Peachtree Street Nw, Atlanta, GA 30308. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.

CONSOLIDATED INCOME ACCOUNT, YEARS ENDED

($ millions)12/31/2512/31/2412/31/23
Revenues12,18012,12312,156
Depreciation and amortization1,3931,3531,298
Operating income4,3564,0712,851
Interest expense792807722
Income before income taxes3,6653,3292,320
Income taxes792707493
Net income2,8732,6221,827
Earned per share, diluted ($)12.7511.578.02
Dividends per share ($)5.405.405.40

CONSOLIDATED BALANCE SHEET

($ millions)12/31/2512/31/24
Cash and equivalents1,5301,641
Receivables, net9881,069
Total current assets3,1983,188
Property, plant and equipment, net36,47935,831
Total assets45,23643,682
Total current liabilities3,7753,545
Long-term debt16,48016,651
Total liabilities29,68929,376
Stockholders' equity15,54714,306
Total liabilities and equity45,23643,682

TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)

Fiscal year endedRevenuesOper. incomeNet incomeNet margin %EPS diluted $Div. per share $Oper. cash flowCapital expend.Free cash flowTotal assetsTotal liabilitiesTotal debtStockholders' equityROE %Debt / equity
12/31/2512,1804,3562,87323.612.755.404,3612,2042,15745,23629,68917,08715,54718.51.10
12/31/2412,1234,0712,62221.611.575.404,0522,3811,67143,68229,37617,20614,30618.31.20
12/31/2312,1562,8511,82715.08.025.403,1792,32785241,65228,87117,17912,78114.31.34
12/31/2212,7454,8093,27025.713.884.964,2221,9482,27438,88526,15215,18212,73325.71.19
12/31/2111,1424,4473,00527.012.114.164,2551,4702,78538,49324,85213,84013,64122.01.01
12/31/209,7893,0022,01320.67.843.763,6371,4942,14337,96223,17112,68114,79113.60.86
12/31/1911,2963,9892,72224.110.253.603,8922,0191,87337,92322,73912,19615,18417.90.80
12/31/1811,4583,9592,66623.39.513.043,7261,9511,77536,23920,87711,14515,36217.40.73
12/31/1710,5513,5225,40451.218.612.443,2531,7231,53035,71119,3529,83616,35933.00.60
12/31/169,8883,0091,66316.85.622.363,0341,8871,14734,89222,48310,21212,40913.40.82

Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.

REGISTRANT:

NORFOLK SOUTHERN CORP
CIK 702165 · EIN 52-1188014

PRINCIPAL OFFICE:

650 W Peachtree Street Nw, Atlanta, GA 30308
Tel.: 470-463-6807

INCORPORATED:

Virginia

INDUSTRY (SEC SIC CODE):

4011 · Railroads, Line-Haul Operating

FILER STATUS:

Large accelerated filer

LATEST ANNUAL REPORT:

10-K for period ended 12/31/25, filed 9 February 2026

RECENT FILINGS (ANNUAL REPORT REFERENCES BELOW):

7/23/2610-Qperiod 6/30/26
7/23/268-Kperiod 7/23/26
6/1/268-Kperiod 5/31/26
5/8/268-Kperiod 5/8/26
4/24/2610-Qperiod 3/31/26
4/24/268-Kperiod 4/24/26
4/2/268-Kperiod 4/2/26
3/27/26DEF 14Aperiod 5/7/26

Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/9/26) · 10-K FY2024 (filed 2/10/25) · 10-K FY2023 (filed 2/5/24) · 10-K FY2022 (filed 2/3/23) · 10-K FY2021 (filed 2/4/22) · 10-K FY2020 (filed 2/4/21) · 10-K FY2019 (filed 2/6/20) · 10-K FY2018 (filed 2/8/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.

Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.

Data from SEC filings  ·  Educational only  ·  Not investment advice