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Norfolk Southern NSC Q4 2025 Annual earnings

Reported January 29, 2026 · Before market open

Revenue$3.0BMiss by $27.0M
EPS$3.22Beat by $0.46
Revenue estimate$3.0B
EPS estimate$2.76

Next report

Oct 22, 2026 (In 2 weeks)
Revenue estimate$3.5B
EPS estimate$3.54

Financials

Q4 2025

Income statement

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Revenue$3.0B-1.7%
Operating income$937.0M-17.2%
Net income$644.0M-12.1%
EPS (diluted)$2.87-11.1%

Balance sheet

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Cash & equivalents$1.5B-6.8%
Total debt$17.3B+5,978%
Total equity$15.5B+8.7%
Total assets$45.2B+3.6%

Cash flow

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Operating cash flow$1.1B+11.8%
CapEx$729.0M+8.0%
Free cash flow$334.0M+21.0%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$64.78B+22.0%
Enterprise value$80.58B+55.7%
P/E22.5×+2.3×
P/S5.3×+0.9×

Profitability

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Operating margin35.8%+2.2pp
Net margin23.6%+2.0pp
FCF margin17.7%+3.9pp

Returns & leverage

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Return on equity19.2%-0.1pp
Debt / equity1.1×+1.1×
Current ratio0.8×-0.1×

Segments

By segment

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Railway Operating Revenues Market Group Merchandise$1.9B+2.1%
Railway Operating Revenues Market Group Intermodal$747.0M-5.7%
Railway Operating Revenues Market Group Coal$347.0M-11.0%

FAQ

When did Norfolk Southern report Q4 2025 earnings?
Norfolk Southern (NSC) reported Q4 2025 earnings on January 29, 2026 before market open.
What were Norfolk Southern's Q4 2025 revenue and EPS?
Norfolk Southern reported revenue of $3.0B and eps of $3.22 for Q4 2025.
Did Norfolk Southern beat estimates in Q4 2025?
Revenue missed the consensus estimate of $3.0B by $27.0M. EPS beat the consensus estimate of $2.76 by $0.46.
How did Norfolk Southern's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.7% from $3.0B a year earlier and eps grew 5.9% from $3.04.
Where can I find Norfolk Southern's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-028244) and the 10-K periodic report (0001628280-26-006268) directly on SEC EDGAR. The filing index links above go to sec.gov.