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Norfolk Southern Corporation logo
Norfolk Southern Corporation NSC
$ 329.16 -4.43%
report update icon

Quarterly report 2026-Q3
added 10-22-2026

Norfolk Southern Corporation Financial Ratios 2025-2006 | NSC

Brief overview of Norfolk Southern Corporation's market valuation

This overview follows the five latest available observations from 2021 through 2025.

The valuation comparison uses P/E 23.97x (median 21.83x), EV/EBITDA 15.45x (median 14.07x), P/S 5.65x (median 4.72x). The combined ratio level is close to the company's five-year norm at a +9.8% deviation. No clear premium or discount is visible.

The inverse P/E implies an earnings yield of 4.2%. This is not a dividend yield, but current earnings relative to market price.

Capital efficiency is characterized by ROE 18.5%, ROA 6.4%, ROCE 28%. Capital returns look adequate and support overall financial resilience.

The PEG ratio is 1.95x; investors pay a high price per unit of expected growth.

The cash cycle accelerated by 44.9 days to -192 days. Less capital is tied up in operations.

Overall picture

Norfolk Southern Corporation's profile looks neutral, with price and fundamental efficiency broadly aligned.

Annual Financial Ratios Norfolk Southern Corporation

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

P/E

 24.0 21.8 31.0 18.1 21.0 31.3 20.3 16.9 8.0 21.1 13.7 15.8 15.1 12.6 13.2 13.5 14.0 14.5 - -

P/S

 5.7 4.7 4.7 4.6 5.7 6.4 4.9 3.9 4.1 3.6 2.0 2.7 2.6 2.0 2.3 2.1 1.8 2.3 - -

EPS

 12.8 11.6 8.0 13.9 12.2 7.9 10.3 9.6 18.8 5.7 5.1 6.4 6.1 5.4 5.5 4.1 2.8 4.6 3.7 -

EV (Enterprise Value)

 97 B 85 B 83.9 B 84.9 B 87.1 B 85.1 B 77.5 B 65.7 B 61.9 B 56.7 B 42.3 B 51.4 B 48.7 B 42 B 43.6 B 36.9 B 30.5 B 40.9 B -206 M -527 M

EBITDA per Share

 25.6 24 18.3 25.7 22.8 16.3 20.6 19.5 12.9 10.9 9.97 12 10.7 10.1 11.8 9.56 7.65 10.5 - -

EV/EBITDA

 16.9 15.7 20.2 14.1 15.5 15.2 12.6 10.7 14.1 13.9 10.1 10.7 11.1 9.3 8.0 10.5 10.9 10.5 -0.1 -

PEG

 1.95 3.22 18.56 1.02 1.11 2.46 3.31 -0.36 0.03 2.04 -0.67 2.83 1.21 -6.98 0.37 - - - - -

P/B

 4.4 4.0 4.4 4.6 4.6 4.3 3.6 2.9 2.6 2.8 1.7 2.5 2.6 2.3 2.6 1.9 1.4 2.6 - -

P/CF

 15.8 14.1 17.8 14.0 14.8 17.3 29.5 25.4 28.2 30.7 43.3 43.0 26.1 26.8 23.7 7.4 7.8 9.2 - -

ROE %

 18.48 18.33 14.29 25.68 22.03 13.61 17.93 17.35 33.03 13.44 12.77 16.12 16.92 17.92 19.33 14.02 9.99 17.86 15.05 -

ROA %

 6.35 6.00 4.39 8.41 7.81 5.30 7.18 7.36 15.13 4.78 4.54 6.02 5.88 5.76 6.71 5.31 3.78 6.53 - -

ROCE %

 28.02 28.46 22.31 37.77 32.60 20.30 11.74 12.29 11.20 9.80 9.39 11.75 11.04 11.46 11.97 25.08 18.95 32.10 26.58 -

Current Ratio

 1.5 1.5 1.4 1.5 1.5 1.6 0.9 0.7 0.8 1.0 1.2 1.6 1.3 1.1 1.0 1.6 1.6 1.6 - -

DSO

 30.8 33.4 34.5 30.4 29.9 33.0 29.7 32.1 33.0 34.9 32.9 33.1 33.2 36.7 33.4 0.3 20.1 14.9 - -

DIO

 - - - - - - 12.9 10.5 12.3 14.7 13.9 11.4 10.7 10.6 18.5 - - - - -

DPO

 222.8 216.1 189.8 184.1 176.9 188.0 37.6 41.9 45.7 37.2 30.9 36.0 33.0 38.0 38.3 145.2 160.7 77.5 - -

Operating Cycle

 30.8 33.4 34.5 30.4 29.9 33.0 42.6 42.6 45.4 49.6 46.7 44.5 44.0 47.2 51.9 0.3 20.1 14.9 - -

Cash Conversion Cycle

 -192.0 -182.7 -155.3 -153.7 -147.0 -155.0 5.1 0.7 -0.3 12.4 15.9 8.5 11.0 9.2 13.6 -145.0 -140.6 -62.6 - -

All numbers in USD currency

Quarterly Financial Ratios Norfolk Southern Corporation

2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2010-Q3 2010-Q2 2010-Q1 2009-Q4 2009-Q3

EPS

 3.16 3.26 2.43 - 3.16 3.41 3.31 - 4.86 3.26 0.23 - 2.11 1.56 2.04 - 4.11 3.46 2.94 - 3.07 3.29 2.67 2.65 2.23 1.53 1.48 2.56 2.5 2.72 2.53 2.59 2.54 2.52 1.94 13.91 1.76 1.72 1.49 1.43 1.56 1.37 1.3 1.21 1.5 1.43 1.01 1.65 1.8 1.81 1.18 1.66 1.55 1.47 1.43 1.31 1.26 1.62 1.24 1.44 1.61 1.58 0.91 0.48 1.21 1.06 0.69 - 0.82

EBITDA per Share

 6.44 8.17 5.47 - 6.44 6.76 6.6 - 8.55 6.49 2.44 - 4.78 3.94 4.53 - 6.77 6.65 5.8 - 8.23 5.87 5.2 3.9 6.7 4.64 3.34 3.73 7.06 6.16 4.68 4.02 6.69 5.59 3.9 3.51 5.87 4.83 3.5 2.62 5.43 4.35 3.28 2.16 5.3 4.32 2.78 2.89 5.56 4.86 2.94 2.85 4.97 4.18 2.98 2.27 4.52 4.43 3.09 2.42 4.79 3.94 2.29 - 3.72 3.09 2.06 - 3.24

ROE %

 17.64 17.87 18.52 15.06 23.03 24.01 19.24 14.07 17.86 12.71 10.69 10.27 17.62 20.06 22.47 18.80 24.23 22.59 20.96 15.74 20.28 18.70 15.63 13.61 13.46 13.94 16.04 17.93 18.11 18.35 18.22 17.35 37.04 35.56 33.98 33.03 12.13 12.74 12.97 13.44 13.05 13.05 13.34 12.77 13.92 14.72 15.70 16.12 16.54 16.31 15.90 16.92 16.61 16.46 17.71 17.92 18.53 20.00 20.25 19.33 16.31 14.84 12.87 12.02 13.21 3.64 2.43 - 3.01

ROA %

 6.01 6.17 6.26 5.05 7.59 7.72 6.11 4.40 5.57 3.94 3.40 3.27 5.71 6.32 7.36 6.17 8.29 5.85 7.62 5.84 7.61 7.15 6.07 5.30 5.29 5.52 6.40 7.18 7.36 7.56 7.62 7.36 16.53 16.01 15.44 15.13 5.21 5.11 4.88 4.78 4.65 4.65 4.76 4.56 5.04 5.40 5.82 6.02 6.06 5.86 5.60 5.88 5.66 5.50 5.80 5.76 6.09 6.70 6.93 6.71 5.68 5.32 4.79 4.58 5.05 1.42 0.93 - 1.12

ROCE %

 27.39 27.66 28.64 23.10 34.67 36.14 29.89 21.99 27.98 20.96 17.84 16.14 25.90 29.57 33.08 27.49 35.67 34.05 31.32 23.26 29.92 27.41 23.39 20.30 19.98 20.86 23.75 26.27 26.95 27.03 26.70 25.77 24.85 23.69 22.34 21.53 21.56 22.70 23.57 24.77 23.91 24.04 24.52 23.66 25.58 26.87 28.41 28.81 29.44 28.91 28.11 28.85 28.36 28.33 30.50 32.01 32.76 34.74 34.00 32.42 28.28 25.73 23.72 22.92 24.56 6.81 5.25 - 5.58

Current Ratio

 1.5 1.6 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.4 1.4 1.4 1.4 1.5 1.5 1.5 1.5 - 1.5 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.9 1.9 1.9 1.9 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.6 1.6 1.6 1.6 1.6 1.6

DSO

 31.8 30.3 32.1 - 32.7 34.5 35.1 - 37.2 35.8 35.6 - 35.3 34.6 33.8 - 15.7 15.0 32.0 - 30.2 30.7 31.0 30.1 30.9 37.1 30.7 31.2 29.6 28.7 31.0 31.8 31.2 31.8 33.0 32.6 32.6 33.0 33.7 34.6 34.2 35.1 35.6 34.3 31.8 31.8 35.6 33.5 31.9 31.6 18.0 16.3 33.1 33.4 17.2 19.0 37.6 35.2 18.3 16.8 32.3 32.5 31.1 39.3 33.4 33.0 35.4 - -

DPO

 225.4 213.3 219.4 - 195.4 194.4 194.4 - 208.2 198.2 194.9 - 186.0 179.8 172.4 - 92.2 87.8 186.6 - 173.2 157.9 153.8 - 160.4 158.2 179.3 - 191.1 183.0 184.1 - 189.4 194.5 179.9 - 165.8 177.8 157.2 - 160.4 166.2 145.5 - 141.8 137.5 135.4 - 154.6 157.4 154.0 - 157.1 159.0 153.7 - 171.7 171.7 142.4 - 135.4 134.8 123.2 - 147.3 139.7 138.8 - -

Operating Cycle

 - - 32.1 - 32.7 34.5 35.1 - 37.2 35.8 35.6 - 35.3 34.6 33.8 - 15.7 15.0 32.0 - 30.2 30.7 31.0 30.1 30.9 37.1 30.7 31.2 29.6 28.7 31.0 31.8 31.2 31.8 33.0 32.6 32.6 33.0 33.7 34.6 34.2 35.1 35.6 34.3 31.8 31.8 35.6 33.5 31.9 31.6 18.0 16.3 33.1 33.4 17.2 19.0 37.6 35.2 18.3 16.8 32.3 32.5 - - - - - - -

Cash Conversion Cycle

 - - -187.2 - -162.7 -159.9 -159.4 - -171.0 -162.4 -159.3 - -150.7 -145.2 -138.7 - -76.5 -72.7 -154.6 - -143.0 -127.1 -122.8 30.1 -129.5 -121.1 -148.5 31.2 -161.5 -154.3 -153.1 31.8 -158.2 -162.8 -146.9 32.6 -133.2 -144.8 -123.6 34.6 -126.3 -131.1 -109.9 34.3 -110.0 -105.7 -99.8 33.5 -122.7 -125.7 -136.0 16.3 -124.0 -125.7 -136.5 19.0 -134.1 -136.4 -124.2 16.8 -103.1 -102.3 - - - - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company Norfolk Southern Corporation, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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