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NS

NORFOLK SOUTHERN CORP

NSC Industrials · Transportation
Latest period 2026-06-30 · 38 filings on record
Quarterly TTM Annual
8Q 3Y 5Y 10Y MAX
21-09 → 26-06 20 QUARTERS
SHOWING Discrete quarters as filed — each point is one 10-Q, or a Q4 derived from the 10-K.
Ranked against Industrials · 69 peers

Each grade is a single reported quarter's assessment, never an average — a card shows the grade at the newest quarter in view, so it follows the period and range controls above. Latest scored quarter: 2026-06-30.

Growth 37th pct

▲+26 over range · as of 2026-06-30

Revenue +11.4% YoY, earnings -4.4% YoY · sector avg 71

Quality 58th pct

▲+2 over range · as of 2026-06-30

21.2% net margin, 16% return on equity, 13% free-cash-flow margin, profitable in 8 of last 8 quarters · sector avg 49

Safety 17th pct

▼−4 over range · as of 2026-06-30

Net debt 2.9x EBITDA, 6x interest coverage, 0.8x current ratio · sector avg 68

OVERVIEWQoQ Δ

Latest quarter · ending 2026-06-30 · green = improving · click a row to chart it

Revenue $3.5B +15.6% Gross margin — — Operating margin 32.4% +3.2pp Net margin 21.2% +2.9pp CHARTED Net income $734.0M +34.2%
Debt / equity 1.02 −5.5%
EPS (diluted) $3.26 +34.2% EBITDA $1.5B +20.6%

Filings

21-09 → 26-06 · following the period bar 20 match
ALL 10-K 10-Q Q1 Q2 Q3 FY SORT NEWEST ↓
Year Q1Q2Q3FY
2026 10-Q 10-Q
2025 10-Q 10-Q 10-Q 10-K
2024 10-Q 10-Q 10-Q 10-K
2023 10-Q 10-Q 10-Q 10-K
2022 10-Q 10-Q 10-Q 10-K
2021 10-Q 10-K
10-Q Q2 2026 2026-07-23 Pro → 10-Q Q1 2026 2026-04-24 Pro → 10-K FY 2025 2026-02-09 Pro → 10-Q Q3 2025 2025-10-23 Pro → 10-Q Q2 2025 2025-07-29 Pro → 10-Q Q1 2025 2025-04-23 Pro →
All 20 filings 10-K FY 2024 2025-02-10 Pro → 10-Q Q3 2024 2024-10-22 Pro → 10-Q Q2 2024 2024-07-26 Pro → 10-Q Q1 2024 2024-04-24 Pro → 10-K FY 2023 2024-02-05 Pro → 10-Q Q3 2023 2023-10-25 Pro → 10-Q Q2 2023 2023-07-27 Pro → 10-Q Q1 2023 2023-04-26 Pro → 10-K FY 2022 2023-02-03 Pro → 10-Q Q3 2022 2022-10-26 Pro → 10-Q Q2 2022 2022-07-27 Pro → 10-Q Q1 2022 2022-04-27 Pro → 10-K FY 2021 2022-02-04 Pro → 10-Q Q3 2021 2021-10-27 Pro →

Filing-level fact detail is a Pro feature. The grades and figures above are free. See Pro plans

Trends

Quarter-over-quarter, from cached filings
Revenue
Latest$3.5B QoQ+15.6% Periods20
$3.5B$2.3B$1.1B$021-092021-09-3024-032024-03-3126-062026-06-30
Revenue by period
PeriodPeriod end Revenue
21-092021-09-30 $2.9B
21-122021-12-31 $2.9B
22-032022-03-31 $2.9B
22-062022-06-30 $3.2B
22-092022-09-30 $3.3B
22-122022-12-31 $3.2B
23-032023-03-31 $3.1B
23-062023-06-30 $3.0B
23-092023-09-30 $3.0B
23-122023-12-31 $3.1B
24-032024-03-31 $3.0B
24-062024-06-30 $3.0B
24-092024-09-30 $3.1B
24-122024-12-31 $3.0B
25-032025-03-31 $3.0B
25-062025-06-30 $3.1B
25-092025-09-30 $3.1B
25-122025-12-31 $3.0B
26-032026-03-31 $3.0B
26-062026-06-30 $3.5B
Net income
Latest$734.0M QoQ+34.2% Periods20
$1.1B$725.3M$362.7M$021-092021-09-3024-032024-03-3126-062026-06-30
Net income by period
PeriodPeriod end Net income
21-092021-09-30 $753.0M
21-122021-12-31 $760.0M
22-032022-03-31 $703.0M
22-062022-06-30 $819.0M
22-092022-09-30 $958.0M
22-122022-12-31 $790.0M
23-032023-03-31 $466.0M
23-062023-06-30 $356.0M
23-092023-09-30 $478.0M
23-122023-12-31 $527.0M
24-032024-03-31 $53.0M
24-062024-06-30 $737.0M
24-092024-09-30 $1.1B
24-122024-12-31 $733.0M
25-032025-03-31 $750.0M
25-062025-06-30 $768.0M
25-092025-09-30 $711.0M
25-122025-12-31 $644.0M
26-032026-03-31 $547.0M
26-062026-06-30 $734.0M
Operating income
Latest$1.1B QoQ+28.2% Periods20
$1.6B$1.1B$526.7M$021-092021-09-3024-032024-03-3126-062026-06-30
Operating income by period
PeriodPeriod end Operating income
21-092021-09-30 $1.1B
21-122021-12-31 $1.1B
22-032022-03-31 $1.1B
22-062022-06-30 $1.3B
22-092022-09-30 $1.3B
22-122022-12-31 $1.2B
23-032023-03-31 $711.0M
23-062023-06-30 $576.0M
23-092023-09-30 $756.0M
23-122023-12-31 $808.0M
24-032024-03-31 $213.0M
24-062024-06-30 $1.1B
24-092024-09-30 $1.6B
24-122024-12-31 $1.1B
25-032025-03-31 $1.1B
25-062025-06-30 $1.2B
25-092025-09-30 $1.1B
25-122025-12-31 $937.0M
26-032026-03-31 $877.0M
26-062026-06-30 $1.1B
Net margin
Latest21.2% QoQ+2.9pp Periods20
36.0%23.8%11.9%0.0%21-092021-09-3024-032024-03-3126-062026-06-30
Net margin by period
PeriodPeriod end Net margin
21-092021-09-30 26.4%
21-122021-12-31 26.6%
22-032022-03-31 24.1%
22-062022-06-30 25.2%
22-092022-09-30 28.7%
22-122022-12-31 24.4%
23-032023-03-31 14.9%
23-062023-06-30 11.9%
23-092023-09-30 16.1%
23-122023-12-31 17.1%
24-032024-03-31 1.8%
24-062024-06-30 24.2%
24-092024-09-30 36.0%
24-122024-12-31 24.2%
25-032025-03-31 25.1%
25-062025-06-30 24.7%
25-092025-09-30 22.9%
25-122025-12-31 21.7%
26-032026-03-31 18.2%
26-062026-06-30 21.2%
ZOOM
09-03 26-06

Grade history

Point-in-time: each period shows the grade of the quarter it ends at — grades are never summed or averaged across a window.

Growth 37 Quality 58 Safety 17
025507510021-092021-09-3024-032024-03-3126-062026-06-30

Hover to read every grade at a period · shared with the trends chart · axis fixed 0–100

Grade history by period
PeriodPeriod end GrowthQualitySafety
21-092021-09-30 not scorednot scorednot scored
21-122021-12-31 not scorednot scorednot scored
22-032022-03-31 not scorednot scorednot scored
22-062022-06-30 not scorednot scorednot scored
22-092022-09-30 not scorednot scorednot scored
22-122022-12-31 not scorednot scorednot scored
23-032023-03-31 not scorednot scorednot scored
23-062023-06-30 not scorednot scorednot scored
23-092023-09-30 115621
23-122023-12-31 145027
24-032024-03-31 10287
24-062024-06-30 665112
24-092024-09-30 676120
24-122024-12-31 436320
25-032025-03-31 656822
25-062025-06-30 397119
25-092025-09-30 186917
25-122025-12-31 216918
26-032026-03-31 106016
26-062026-06-30 375817