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Norfolk Southern NSC Reportable Segment — Equipment rents

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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$76.92B+21.2%
Enterprise value$92.47B
P/E29.2×+10.2×
P/S6.1×+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 / equity
Current ratio0.8×0.0×

Where this comes from

Reported directly by Norfolk Southern in its filing.

Tagged under the XBRL concept nsc:EquipmentRents.

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

Filed
Jul 23, 2026, 11:34 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-049326
Line itemSecond Quarter / 2026Second Quarter / 2025First Six Months / 2026First Six Months / 2025
Railway operating expenses
Compensation and benefits7446921,4841,431
Purchased services435409853810
Equipment rents115111219208
Fuel405219661463
Depreciation358346710692
Materials11398207198
Claims6959122125

Item 1. Financial Statements

FAQ

What is Norfolk Southern's reportable segment — equipment rents?
Norfolk Southern (NSC) reported reportable segment — equipment rents of $115M in Q2 2026.
How has Norfolk Southern's reportable segment — equipment rents changed year-over-year?
Norfolk Southern's reportable segment — equipment rents increased by 3.6% year-over-year, from $111M to $115M.
What does reportable segment — equipment rents mean?
This metric tracks the costs associated with leasing railcars, locomotives, or other equipment from third parties or other railroads. It is a key indicator of fleet management strategy and capital versus operating lease decisions.

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