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Norfolk Southern stock: growth
NSCNorfolk Southern reported $12.18B in revenue for fiscal 2025, up 0.5% on the prior year, up 4.5% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
1.4%
per year from 2006 to 2025, per share 4.6%
Earnings (Annual rate)
3.5%
per year from 2006 to 2025, per share 6.8%
Free cash flow (Annual rate)
4%
per year from 2006 to 2025, per share 7.3%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 4.5% | 1.5% | 1.4% |
| Revenue per share | 7.1% | 4.5% | 4.6% |
| Earnings | 7.4% | 6.3% | 3.5% |
| Earnings per share | 10.1% | 9.5% | 6.8% |
| Free cash flow | 0.1% | 15.9% | 4.0% |
| Free cash flow per share | 2.7% | 19.4% | 7.3% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $9.41B | $1.48B | $1.03B |
| 2007 | $9.43B | $1.46B | $992M |
| 2008 | $10.66B | $1.72B | $1.16B |
| 2009 | $7.97B | $1.03B | $561M |
| 2010 | $9.52B | $1.5B | $1.24B |
| 2011 | $11.17B | $1.92B | $1.07B |
| 2012 | $11.04B | $1.75B | $824M |
| 2013 | $11.25B | $1.91B | $1.11B |
| 2014 | $11.62B | $2B | $734M |
| 2015 | $10.51B | $1.56B | $492M |
| 2016 | $9.89B | $1.67B | $1.15B |
| 2017 | $10.55B | $5.4B | $1.53B |
| 2018 | $11.46B | $2.67B | $1.78B |
| 2019 | $11.3B | $2.72B | $1.87B |
| 2020 | $9.79B | $2.01B | $2.14B |
| 2021 | $11.14B | $3.01B | $2.79B |
| 2022 | $12.75B | $3.27B | $2.27B |
| 2023 | $12.16B | $1.83B | $830M |
| 2024 | $12.12B | $2.62B | $1.67B |
| 2025 | $12.18B | $2.87B | $2.16B |
Revenue by segment
How Norfolk Southern Corporation makes its money and how that has shifted. Names are as the company reports them.
- Railway Operating Revenues Market Group Merchandise63%
- Railway Operating Revenues Market Group Intermodal25%
- Railway Operating Revenues Market Group Coal12%
Figures as a table
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Railway Operating Revenues Market Group Merchandise | $6.74B | $6.8B | $6.09B | $6.67B | $7.33B | $7.35B | $7.47B | $7.68B | 63.1% |
| Railway Operating Revenues Market Group Intermodal | $2.89B | $2.82B | $2.65B | $3.16B | $3.68B | $3.09B | $3.04B | $3.01B | 24.7% |
| Railway Operating Revenues Market Group Coal | $1.82B | $1.67B | $1.05B | $1.31B | $1.73B | $1.71B | $1.61B | $1.49B | 12.2% |
| Total revenue | $11.46B | $11.3B | $9.79B | $11.14B | $12.75B | $12.16B | $12.12B | $12.18B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong since 10 Nov 2026, previously Neutral
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.