Norfolk Southern Corp (NSC)
Industrials · Rail Transportation · US stock · S&P 500 component
$326.92
▲ +2.09 (0.64%)
Fair valueFair
$269 −17.9% to fair value
$134fair band $188–$349$403
Day's range
$323.04 – $328.36
52-week range
$273.59 – $357.19
About Norfolk Southern Corp
A freight railroad across the eastern United States is the core of Norfolk Southern, with routes that serve major ports and industrial and population centres. It carries intermodal containers, coal, chemicals, automotive products, metals, construction materials and agricultural goods. Customers are shippers such as manufacturers, utilities, retailers and logistics providers. The company owns and maintains its own track and terminals, and it connects with other railroads to reach destinations beyond its network.
Revenue came to $12.5 billion over the last twelve months, earned from freight charges for moving customers' goods. Revenue has changed at -1.5% a year across the last three years. The operating margin is 32.2% and the business earns 10% on the capital invested in it. Net debt is 2.9 times EBITDA, and the dividend yield is 1.7%. On the site's X-Ray Score it receives 31 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $273.59 – $357.19Volume 745,500Daily, split-adjusted
Vitals
Market cap$73.6B
52-week range$273.59 – $357.19
Volume (last day)745,500
P/E (TTM)27.9
EBIT / EV yield4.5%
Free-cash-flow yield2.2%
Dividend yield1.7%
Revenue (TTM)$12.5B
Net income (TTM)$2.6B
Operating margin32.2%
Return on capital9.9%
Debt incl. leases$16.6B
Cash & securities$1.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$269model spread $254 – $283
Fair
−17.9% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $327
Undervalued < $188Fair $188 – $349Overvalued > $349
10-year DCF (market-scaled)
$216
Peer multiples
$322
Earnings power floor (not blended)
$109
Fundamentals-adjusted multiple
$268
Growth the price implies
16.4%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Valuation
Weak
30/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.5%
Free-cash-flow yield2.2%
Fair value vs price0.8×
Growth
Weak
20/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-1.5%
EPS growth (3y)-2.8%
Growth consistency60%
Profitability
Weak
39/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital9.9%
Operating margin32.2%
Financial health
Weak
30/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA2.9×
Interest cover5.1×
Dividends
Weak
40/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.7%
Dividends vs free cash flow74%
Dividend growth1.4%
Quarterly results: last 6 quarters
-0.4%
Mar '25
+2.2%
Jun '25
+1.7%
Sep '25
-1.7%
Dec '25
+0.2%
Mar '26
+11.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.5B, diluted EPS $3.26.
Compare with peers
UNP Union Pacific Corp49 CSX Csx Corp32Other Rail Transportation companies by X-Ray Score.
Fundamentals checklist
● 2 Good · ● 2 Average · ● 11 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreGood
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalBad
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 32/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $11.1B | $12.7B | $12.2B | $12.1B | $12.2B |
| Operating income | $4.4B | $4.8B | $2.9B | $4.1B | $4.4B |
| Net income | $3.0B | $3.3B | $1.8B | $2.6B | $2.9B |
| Operating cash flow | $4.3B | $4.2B | $3.2B | $4.1B | $4.4B |
| Operating margin | 39.9% | 37.7% | 23.5% | 33.6% | 35.8% |
| Free cash flow | $2.8B | $2.3B | $852M | $1.7B | $2.2B |
| Diluted EPS | $12.11 | $13.88 | $8.02 | $11.57 | $12.75 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
10 bullish · 1 neutral · 5 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 2 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 319.7 | Bullish |
| EMA 10 | 320.8 | Bullish |
| SMA 20 | 316.2 | Bullish |
| EMA 20 | 319.8 | Bullish |
| SMA 50 | 327.2 | Bearish |
| EMA 50 | 322.7 | Bullish |
| SMA 100 | 323.8 | Bullish |
| EMA 100 | 321.0 | Bullish |
| SMA 200 | 311.2 | Bullish |
| EMA 200 | 311.2 | Bullish |
Oscillators (daily)
| RSI (14) | 60.86 | Neutral |
| MACD (12, 26) | -0.17 | Bearish |
| Momentum (12) | 5.80 | Bullish |
| Stochastic %K (14) | 90.41 | Bearish |
| Williams %R (14) | -9.59 | Bearish |
| CCI (20) | 197.6 | Bearish |
Pivot points (classic, last session)
S3 318.5 | S2 320.8 | S1 323.9 | Pivot 326.1 | R1 329.2 | R2 331.4 | R3 334.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
5.40 USD
Yield on today's price
1.65%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 7 Aug 2026 | 1.3500 |
| 8 May 2026 | 1.3500 |
| 6 Feb 2026 | 1.3500 |
| 7 Nov 2025 | 1.3500 |
| 1 Aug 2025 | 1.3500 |
| 2 May 2025 | 1.3500 |
| 7 Feb 2025 | 1.3500 |
| 1 Nov 2024 | 1.3500 |
| 2 Aug 2024 | 1.3500 |
| 2 May 2024 | 1.3500 |
| 1 Feb 2024 | 1.3500 |
| 2 Nov 2023 | 1.3500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
NSC SEC filings
23 Jul 2026
10-QSEC EDGAR
Quarterly report
23 Jul 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
1 Jun 2026
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8 May 2026
8-KSEC EDGAR
Shareholder vote results
24 Apr 2026
10-QSEC EDGAR
Quarterly report
24 Apr 2026
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
2 Apr 2026
8-KSEC EDGAR
Entered a material agreement
27 Mar 2026
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.