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Norfolk Southern NSC Operating margin

Operating margin at other companies

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36.8%+0.4pp
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27.3%-0.7pp
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Union PacificUNP
40%-0.3pp
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CSXCSX
34.2%+0.4pp
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16.4%+0.2pp
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Wabash NationalWNC
22.4%+16.2pp

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/S+0.9×

Profitability

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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

Calculated from Norfolk Southern’s reported figures.

Based on trailing twelve months.

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 operating margin?
Norfolk Southern (NSC) reported operating margin of 32.2% in Q2 2026.
How has Norfolk Southern's operating margin changed year-over-year?
Norfolk Southern's operating margin decreased by 22.4% year-over-year, from 41.5% to 32.2%.
What is the long-term trend for Norfolk Southern's operating margin?
Over 5 years (2020 to 2025), Norfolk Southern's operating margin has grown at a 3.1% compound annual growth rate (CAGR), from 30.7% to 35.8%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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