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CSX CSX Rail Operations — D&A

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Other financials

Income statement

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Revenue$3.9B+10.1%
Operating income$1.5B+17.4%
Net income$1.0B+20.9%
EPS (diluted)$0.54+22.7%

Balance sheet

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Cash & equivalents$1.0B+160%
Total debt$19.4B+3,899%
Total equity$12.2B-2.1%
Total assets$44.7B+4.2%

Cash flow

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Operating cash flow$1.3B+109%
CapEx$576.0M-25.8%
Free cash flow$751.0M

Valuation

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Market cap$93.36B+39.6%
Enterprise value$111.71B+67.1%
P/E29×+7.4×
P/S6.4×+1.7×

Profitability

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Operating margin34.2%+0.4pp
Net margin22.2%+0.3pp
FCF margin19.3%+4.1pp

Returns & leverage

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Return on equity26.3%-2.8pp
Debt / equity1.6×+1.6×
Current ratio0.8×0.0×

Where this comes from

Reported directly by CSX in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The source filing: CSX’s 10-Q, filed July 22, 2026.

Filed
Jul 22, 2026, 4:02 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000277948-26-000032
(Dollars in Millions)Second Quarters / 2026 / RailSecond Quarters / 2026 / Reconciliation to ConsolidatedSecond Quarters / 2025 / RailSecond Quarters / 2025 / Reconciliation to Consolidated
Expense (b)
Labor and Fringe$782$736
Purchased Services and Other535605
Depreciation and Amortization396410
Fuel
Locomotive379226
Non-Locomotive3423
Equipment and Other Rents9290

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is CSX's rail operations — D&A?
CSX (CSX) reported rail operations — D&A of $396M in Q2 2026.
How has CSX's rail operations — D&A changed year-over-year?
CSX's rail operations — D&A decreased by 3.4% year-over-year, from $410M to $396M.
What is the long-term trend for CSX's rail operations — D&A?
Over 3 years (2022 to 2025), CSX's rail operations — D&A has grown at a 3.6% compound annual growth rate (CAGR), from $1.45B to $1.62B.
What does rail operations — D&A mean?
This non-cash expense represents the systematic allocation of the cost of tangible and intangible assets, such as locomotives, track infrastructure, and technology, over their useful lives. It reflects the capital-intensive nature of maintaining a massive rail network.

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