Norfolk Southern Corporation
Statements
Ratios
Valuation ratios (P/E, P/S, EV/EBITDA and the other multiples) are based on the closing price at the end of each period, not on the current price. Margins and returns are shown in percent, multiples without a unit, per-share figures in the reporting currency, net debt in millions.
Tick rows to compare them in a chart (up to 4)
| Line item | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||||||||||||||||||||||
| 14.6 | 16.1 | 16.4 | 32.5 | 29.6 | 18.9 | 16.9 | 17.3 | 15.7 | 14.4 | 14.1 | 13.7 | 10.4 | 18.9 | 15.6 | 13.4 | 11.5 | 15.3 | 17.1 | 16.6 | 19.2 | 7.8 | 15.7 | 18.9 | 30.3 | 24.6 | 17.8 | 29.4 | 20.3 | 22.6 | |
| 2.4 | 2.7 | 2.9 | 1.5 | 0.8 | 1.1 | 1.2 | 1.4 | 2.0 | 2.2 | 2.2 | 2.1 | 1.7 | 2.4 | 2.5 | 2.3 | 1.8 | 2.6 | 2.9 | 2.5 | 3.2 | 4.0 | 3.7 | 4.6 | 6.2 | 6.6 | 4.6 | 4.4 | 4.4 | 5.3 | |
| 2.3 | 2.1 | 2.0 | 1.3 | 0.9 | 1.2 | 1.2 | 1.3 | 1.8 | 2.0 | 2.2 | 2.1 | 1.9 | 1.9 | 2.2 | 2.6 | 2.1 | 2.6 | 2.8 | 2.1 | 2.6 | 2.6 | 2.7 | 3.4 | 4.1 | 5.4 | 4.6 | 4.2 | 3.7 | 4.2 | |
| 2.3 | 2.8 | 2.9 | 1.6 | 2.1 | 2.4 | 2.5 | 2.6 | 2.9 | 3.0 | 2.9 | 2.8 | 2.3 | 3.2 | 3.1 | 3.0 | 2.6 | 3.3 | 3.7 | 3.3 | 4.2 | 4.9 | 4.6 | 5.6 | 7.4 | 7.8 | 5.7 | 5.7 | 5.7 | 6.6 | |
| 7.2 | 6.8 | 9.3 | 8.9 | 14.7 | 35.7 | 13.4 | 15.8 | 8.9 | 8.5 | 7.8 | 7.5 | 6.0 | 8.8 | 8.1 | 7.8 | 6.8 | 8.5 | 9.2 | 8.5 | 9.8 | 10.8 | 10.3 | 12.1 | 16.9 | 15.2 | 12.1 | 24.4 | 12.5 | 13.8 | |
| 21.8 | 42.1 | – | – | 8.3 | – | 68.4 | 27.7 | 23.3 | 17.1 | 20.3 | 20.2 | 15.5 | 34.8 | 18.8 | 24.0 | 24.4 | 26.4 | 46.7 | 52.3 | 27.9 | 27.5 | 23.6 | 27.5 | 28.4 | 26.5 | 25.5 | 64.8 | 31.8 | 30.1 | |
| 4.6% | 2.4% | -0.5% | -4.9% | 12.0% | -1.3% | 1.5% | 3.6% | 4.3% | 5.9% | 4.9% | 4.9% | 6.5% | 2.9% | 5.3% | 4.2% | 4.1% | 3.8% | 2.1% | 1.9% | 3.6% | 3.6% | 4.2% | 3.6% | 3.5% | 3.8% | 3.9% | 1.5% | 3.1% | 3.3% | |
| Margins | ||||||||||||||||||||||||||||||
| 76.8% | 91.7% | 93.6% | 62.8% | 58.7% | 60.8% | 62.0% | 56.3% | 28.4% | 30.4% | 27.2% | 27.3% | 28.9% | 24.6% | 28.0% | 28.7% | 28.2% | 28.9% | 30.7% | 27.4% | 31.0% | 33.4% | 34.6% | 34.5% | 34.7% | 39.2% | 37.1% | 50.2% | 31.0% | 42.4% | |
| 25.1% | 28.7% | 24.9% | 13.8% | 10.3% | 16.3% | 18.5% | 16.5% | 23.3% | 25.3% | 27.2% | 27.3% | 28.9% | 24.6% | 28.0% | 28.7% | 28.2% | 28.9% | 30.7% | 27.4% | 31.0% | 33.4% | 34.6% | 34.5% | 34.7% | 39.2% | 37.1% | 23.5% | 31.0% | 32.9% | |
| 16.2% | 17.1% | 17.4% | 4.6% | 2.8% | 6.1% | 7.3% | 8.3% | 12.6% | 15.0% | 15.7% | 15.5% | 16.1% | 13.0% | 15.7% | 17.2% | 15.8% | 17.0% | 17.2% | 14.8% | 16.9% | 51.2% | 23.3% | 24.1% | 20.6% | 27.0% | 25.7% | 15.0% | 21.6% | 23.6% | |
| 10.8% | 6.5% | -1.6% | -7.3% | 9.9% | -1.5% | 1.8% | 5.2% | 8.5% | 12.7% | 10.9% | 10.5% | 10.9% | 7.0% | 13.1% | 9.6% | 7.5% | 9.8% | 6.3% | 4.7% | 11.6% | 14.5% | 15.5% | 16.6% | 21.9% | 25.0% | 17.8% | 6.8% | 13.8% | 17.7% | |
| Returns | ||||||||||||||||||||||||||||||
| 15.5% | 13.2% | 12.4% | 4.0% | 3.0% | 6.2% | 7.1% | 7.7% | 11.6% | 13.8% | 15.4% | 15.1% | 17.9% | 10.0% | 14.0% | 19.3% | 17.9% | 16.9% | 16.1% | 12.8% | 13.4% | 33.0% | 17.4% | 17.9% | 13.6% | 22.0% | 25.7% | 14.3% | 18.3% | 18.5% | |
| 6.7% | 4.2% | 4.0% | 1.2% | 0.9% | 1.9% | 2.3% | 2.6% | 3.7% | 5.0% | 5.7% | 5.6% | 6.5% | 3.8% | 5.3% | 6.7% | 5.8% | 5.9% | 6.0% | 4.5% | 4.8% | 15.1% | 7.4% | 7.2% | 5.3% | 7.8% | 8.4% | 4.4% | 6.0% | 6.4% | |
| Balance Sheet & Debt | ||||||||||||||||||||||||||||||
| -109 | 54 | 136 | 466 | 7,634 | 7,428 | 7,693 | 7,592 | 6,946 | 6,774 | 6,206 | 6,295 | 6,182 | 6,290 | 6,331 | 7,397 | 8,162 | 8,138 | 8,333 | 8,992 | 9,256 | 9,146 | 10,787 | 11,713 | 11,655 | 13,083 | 14,820 | 15,716 | 15,646 | 15,557 | |
| -0.1 | 0.0 | 0.1 | 0.5 | 8.8 | 18.3 | 6.6 | 7.1 | 2.9 | 2.3 | 1.8 | 1.8 | 1.5 | 2.1 | 1.7 | 1.7 | 2.0 | 1.8 | 1.8 | 2.2 | 2.2 | 1.9 | 2.1 | 2.2 | 2.7 | 2.3 | 2.5 | 5.5 | 2.9 | 2.7 | |
| 43.6% | 31.4% | 32.6% | 30.8% | 30.7% | 31.4% | 32.6% | 33.9% | 32.3% | 35.9% | 36.9% | 37.2% | 36.5% | 37.8% | 37.8% | 34.7% | 32.2% | 34.8% | 37.3% | 35.6% | 35.6% | 45.8% | 42.4% | 40.0% | 39.0% | 35.4% | 32.7% | 30.7% | 32.8% | 34.4% | |
| 0.0 | 0.0 | 0.0 | 0.1 | 1.3 | 1.3 | 1.2 | 1.1 | 0.9 | 0.8 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.9 | 0.8 | 0.8 | 0.8 | 0.8 | 0.6 | 0.7 | 0.8 | 0.9 | 1.0 | 1.2 | 1.4 | 1.2 | 1.1 | |
| Per Share | ||||||||||||||||||||||||||||||
| 2.01 | 1.90 | 1.93 | 0.63 | 0.45 | 0.97 | 1.18 | 1.37 | 2.31 | 3.11 | 3.57 | 3.68 | 4.52 | 2.78 | 4.02 | 5.45 | 5.38 | 6.05 | 6.40 | 5.11 | 5.64 | 18.62 | 9.51 | 10.25 | 7.84 | 12.11 | 13.88 | 8.03 | 11.58 | 12.78 | |
| 12.45 | 11.13 | 11.10 | 13.69 | 16.11 | 15.96 | 16.08 | 16.56 | 18.30 | 20.70 | 22.68 | 23.71 | 28.06 | 21.42 | 25.59 | 31.80 | 33.95 | 35.64 | 37.20 | 34.53 | 33.41 | 36.35 | 40.89 | 42.53 | 38.15 | 44.91 | 54.10 | 53.46 | 53.55 | 54.18 | |
| 12.99 | 14.35 | 15.57 | 15.64 | 15.24 | 15.75 | 16.67 | 17.86 | 20.00 | 22.55 | 23.18 | 24.45 | 25.26 | 27.82 | 28.70 | 28.21 | 30.01 | 35.78 | 39.71 | 40.04 | 41.92 | 56.35 | 54.83 | 57.17 | 57.64 | 54.98 | 54.04 | 56.20 | 63.19 | 69.16 | |
| 1.35 | 0.72 | -0.17 | -1.00 | 1.60 | -0.24 | 0.29 | 0.86 | 1.55 | 2.62 | 2.48 | 2.49 | 3.04 | 1.51 | 3.35 | 3.04 | 2.53 | 3.51 | 2.35 | 1.62 | 3.88 | 5.27 | 6.33 | 7.05 | 8.35 | 11.23 | 9.65 | 3.65 | 7.38 | 9.60 | |
Data as of: October 6, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.