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Norfolk Southern NSC Net debt

Discontinued — last reported Q2 '26

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Other financials

Income statement

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Revenue$3.5B+11.4%
Operating income$1.1B-4.3%
Net income$734.0M-4.4%
EPS (diluted)$3.26-4.4%

Balance sheet

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Cash & equivalents$1.1B-18.0%
Total debt$16.6B—
Total equity$16.3B+9.9%
Total assets$45.1B+2.2%

Cash flow

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Operating cash flow$1.1B-2.1%
CapEx$439.0M-7.6%
Free cash flow$615.0M+2.2%

Valuation

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Market cap$75.35B+20.8%
Enterprise value$90.9B—
P/E28.6×+10.0×
P/S6×+0.9×

Profitability

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Operating margin32.2%-9.3pp
Net margin21%-6.5pp
FCF margin13%-3.6pp

Returns & leverage

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Return on equity17%-7.1pp
Debt / equity1×—
Current ratio0.8×0.0×

Where this comes from

Calculated from Norfolk Southern’s reported figures.

$16.6Btotal debt−$1.1Bcash and equivalents=$15.55B

The source filing: Norfolk Southern’s 10-Q, filed July 23, 2026. Open the filing →

Filed
Jul 23, 2026, 11:34 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-049326

FAQ

What is Norfolk Southern's net debt?
Norfolk Southern (NSC) reported net debt of $15.55B in Q2 2026.
What is the long-term trend for Norfolk Southern's net debt?
Over 5 years (2020 to 2025), Norfolk Southern's net debt has grown at a 88.9% compound annual growth rate (CAGR), from -$657M to $15.79B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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