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Norfolk SouthernNSC

Rail Transportation · Atlanta, Georgia · In the S&P 500
Solid businessPricier than peers
$342.64+0.13%After hours: $342.64 (0.00%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 22.6% over 1 year
Norfolk Southern over 1 yearDaily close, $, to 30 Oct 2026
$300$325$350Nov2026MarMayJulSep$342.64$300$350NovMarJul$342.64
Source: Nasdaq daily closes
Market value$76.96B
Price to earnings28.8x
Forward P/E24.9x
Dividend yield1.58%
Year to date+18.7%
One year+22.6%
Next earningsNot scheduled
SectorIndustrials
52-week range (closes)
$278.19$352.98

Quality and valuation

How Norfolk Southern compares with other industrials stocks. A description, not a recommendation.

Norfolk Southern and 7 rail transportation peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among industrials companies, priced above most of them.

Norfolk Southern trades at 24.9 times the next 12 months of expected earnings, against a median of 21.4x for the 89 industrials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +6.0% vs +8.2%
  • More profitable (operating margin): 31.5% vs 17.5%
  • Turns less of its sales into cash: 12.7% vs 13.1%
NSC trades at 24.9x forward earnings, above the sector medianForward p/e, Rail Transportation peers
LMT20.6xCAT21.6xUNP22.3xNSC24.9xRTX26.8xDE32.3xGE35.7xGEV40.8xSector median 21.4xLMT20.6xCAT21.6xUNP22.3xNSC24.9xRTX26.8xDE32.3xGE35.7xGEV40.8xSector median 21.4x
Source: CNBC quotes; Mostly Markets
At 28.7x earnings, NSC is pricier than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
15x20x25x30xAverage 22.7x2025202628.7x20xAverage 22.7x2025202628.7x
Source: Nasdaq prices; SEC filings

Financials

From Norfolk Southern's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 13.6% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$1bn$2bn$3bnQ4 ’24Q2 ’25Q4 ’25$3.5bnQ3 ’26$0bn$2bnQ4 ’24Q2 ’25Q4 ’25$3.5bnQ3 ’26
Source: SEC filings
Growth sped up to +13.6% last quarterRevenue growth, year on year, %
0%5%10%Q4 ’24Q2 ’25Q4 ’2513.6%Q3 ’260%10%Q4 ’24Q2 ’25Q4 ’2513.6%Q3 ’26
Source: SEC filings
Operating margin was 32.6% last quarterOperating income as a share of revenue, %
0%10%20%30%Q4 ’24Q2 ’25Q4 ’2532.6%Q3 ’260%20%Q4 ’24Q2 ’25Q4 ’2532.6%Q3 ’26
Source: SEC filings
Free cash flow was $1.6 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
$0m$200m$400m$600mQ4 ’24Q2 ’25Q4 ’25$736mQ3 ’26$0m$500mQ4 ’24Q2 ’25Q4 ’25$736mQ3 ’26
Source: SEC filings
Last 12 monthsNSCSector median
Revenue growth+6.0%+8.2%
Operating margin31.5%17.5%
Free cash flow margin12.7%13.1%
Price to earnings28.8x25.8x

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Similar companies

Rail Transportation, by market value.

CompanyPriceTodayYTDValue
GEGE Aerospace$301.80−3.59%−2.0%$312B
CATCaterpillar$622.75−3.81%+8.7%$286B
RTXRTX$199.80+0.20%+8.9%$270B
GEVGE Vernova$857.87−3.38%+31.3%$227B
DEDeere &$675.48+2.35%+45.1%$182B
UNPUnion Pacific$304.00+0.69%+31.4%$181B
LMTLockheed Martin$636.95−1.03%+31.7%$147B
ETNEaton$369.97−6.03%+16.2%$144B