What is Norfolk Southern's shares (diluted)?

Norfolk Southern (NSC) reported shares (diluted) of 225M in Q1 2026.

How has Norfolk Southern's shares (diluted) changed year-over-year?

Norfolk Southern's shares (diluted) decreased by 0.7% year-over-year, from 226.5M to 225M.

What does shares (diluted) mean?

The total number of shares that would exist if all 'potential' shares, like employee stock options, were converted into real stock.

Earnings Per Share

Shares (Diluted)

Norfolk Southern Shares (Diluted) increased by 0.1% to 225M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 0.7%, from 226.5M to 225M. This increase may warrant attention — for this metric, lower values are generally preferred.

Analysis

StatementIncome Statement

SectionEarnings Per Share

CategoryCapital Allocation

SignalLower is better

VolatilityStable

First reportedQ1 2013

Last reportedQ1 2026

How to read this metric

An increase relative to basic shares indicates a higher reliance on equity-based compensation or convertible debt financing.

Detailed definition

Weighted-average shares outstanding (diluted) includes the total number of basic common shares plus all additional share...

Peer comparison

Commonly compared against basic shares to determine the 'dilution overhang' present in a company's capital structure.

Metric ID: weighted_shares_diluted

Historical Data

15 periods

	Q2 '21	Q3 '21	Q1 '22	Q2 '22	Q3 '22	Q1 '23	Q2 '23	Q3 '23	Q1 '24	Q2 '24	Q3 '24	Q1 '25	Q2 '25	Q3 '25	Q1 '26
Value	250M	246.4M	240.2M	237.5M	234M	228.3M	228M	227M	226.2M	226.4M	226.5M	226.5M	225.2M	224.7M	225M
QoQ Change	—	-1.4%	-2.5%	-1.1%	-1.5%	-2.4%	-0.1%	-0.4%	-0.4%	+0.1%	+0.0%	+0.0%	-0.6%	-0.2%	+0.1%
YoY Change	—	—	—	-5.0%	-5.0%	-5.0%	-4.0%	-3.0%	-0.9%	-0.7%	-0.2%	+0.1%	-0.5%	-0.8%	-0.7%

Range224.7M – 250M

CAGR-3.0%

Avg YoY Growth-2.1%

Median YoY Growth-0.9%

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Frequently Asked Questions

What is Norfolk Southern's shares (diluted)?: Norfolk Southern (NSC) reported shares (diluted) of 225M in Q1 2026.
How has Norfolk Southern's shares (diluted) changed year-over-year?: Norfolk Southern's shares (diluted) decreased by 0.7% year-over-year, from 226.5M to 225M.
What does shares (diluted) mean?: The total number of shares that would exist if all 'potential' shares, like employee stock options, were converted into real stock.