Revenue
3.53 billion USD
2026 Q3 · USD
Exact inputs and evidence
- Revenue: 3526000000 USD Source
Annual consolidated revenue for 2025: about USD 12.18B, using the latest reported figures. The previous period, 2024, was about USD 12.12B.
3.53 billion USD
2026 Q3 · USD
32.61%
2026 Q3 · %
1.32 billion USD
2026 Q3 · USD
736 million USD
2026 Q3 · USD
1598000000 USD
10237000000 USD
224616686 shares
0.10% · 230 thousand shares
Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
13 billion USD
2025-10-01 – 2026-09-30
2.68 billion USD
2025-10-01 – 2026-09-30
3.78 billion USD
2025-10-01 – 2026-09-30
2.14 billion USD
2025-10-01 – 2026-09-30
1.65 billion USD
2025-10-01 – 2026-09-30
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-10-22.
Financial data available through: 2025-12-31.
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Prior period
USD 12.12 billion
–
Current period
USD 12.18 billion
–
12180000000 − 12123000000 = 57000000 USD
12123000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source12180000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceThe citation records this snapshot. The page link may show a newer release later.
Prior period
USD 2.62 billion
–
Current period
USD 2.87 billion
–
2873000000 − 2622000000 = 251000000 USD
2622000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source2873000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceThe citation records this snapshot. The page link may show a newer release later.
Prior period
USD 4.05 billion
–
Current period
USD 4.36 billion
–
4361000000 − 4052000000 = 309000000 USD
4052000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source4361000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceThe citation records this snapshot. The page link may show a newer release later.
Prior period
USD 2.38 billion
–
Current period
USD 2.2 billion
–
2204000000 − 2381000000 = -177000000 USD
2381000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source2204000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceThe citation records this snapshot. The page link may show a newer release later.
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 9888000000 | 6879000000 Derived | 3009000000 | Unavailable | Unavailable | 1147000000 Derived | Source
|
| 2017 2017-01-01 – 2017-12-31 | 10551000000 | 7029000000 Derived | 3522000000 | -1882000000 Derived | 5404000000 | 1530000000 Derived | Source
|
| 2018 2018-01-01 – 2018-12-31 | 11458000000 | 7499000000 Derived | 3959000000 | 1293000000 Derived | 2666000000 | 1775000000 Derived | Source
|
| 2019 2019-01-01 – 2019-12-31 | 11296000000 | 7307000000 Derived | 3989000000 | 1267000000 Derived | 2722000000 | 1873000000 Derived | Source
|
| 2020 2020-01-01 – 2020-12-31 | 9789000000 | 6787000000 Derived | 3002000000 | 989000000 Derived | 2013000000 | 2143000000 Derived | Source
|
| 2021 2021-01-01 – 2021-12-31 | 11142000000 | 6695000000 Derived | 4447000000 | 1442000000 Derived | 3005000000 | 2785000000 Derived | Source
|
| 2022 2022-01-01 – 2022-12-31 | 12745000000 | 7936000000 Derived | 4809000000 | 1539000000 Derived | 3270000000 | 2274000000 Derived | Source
|
| 2023 2023-01-01 – 2023-12-31 | 12156000000 | 9305000000 Derived | 2851000000 | 1024000000 Derived | 1827000000 | 852000000 Derived | Source
|
| 2024 2024-01-01 – 2024-12-31 | 12123000000 | 8052000000 Derived | 4071000000 | 1449000000 Derived | 2622000000 | 1671000000 Derived | Source
|
| 2025 2025-01-01 – 2025-12-31 | 12180000000 | 7824000000 Derived | 4356000000 | 1483000000 Derived | 2873000000 | 2157000000 Derived | Source
|
Amounts are exact, in USD.
Sales over time and how quickly they are changing.
Revenue reported for each complete financial period.
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 9888000000 |
|
| 2017 | Revenue | 10551000000 |
|
| 2018 | Revenue | 11458000000 |
|
| 2019 | Revenue | 11296000000 |
|
| 2020 | Revenue | 9789000000 |
|
| 2021 | Revenue | 11142000000 |
|
| 2022 | Revenue | 12745000000 |
|
| 2023 | Revenue | 12156000000 |
|
| 2024 | Revenue | 12123000000 |
|
| 2025 | Revenue | 12180000000 |
|
Change in revenue from the same financial period one year earlier.
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | -5.9% |
|
| 2017 | Year over year | 6.7% |
|
| 2018 | Year over year | 8.6% |
|
| 2019 | Year over year | -1.4% |
|
| 2020 | Year over year | -13.3% |
|
| 2021 | Year over year | 13.8% |
|
| 2022 | Year over year | 14.4% |
|
| 2023 | Year over year | -4.6% |
|
| 2024 | Year over year | -0.3% |
|
| 2025 | Year over year | 0.5% |
|
How much revenue becomes profit, and how much cash operations generate.
Operating income, net income and free cash flow as a share of revenue.
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 30.4% |
|
| 2017 | Operating margin | 33.4% |
|
| 2018 | Operating margin | 34.6% |
|
| 2019 | Operating margin | 35.3% |
|
| 2020 | Operating margin | 30.7% |
|
| 2021 | Operating margin | 39.9% |
|
| 2022 | Operating margin | 37.7% |
|
| 2023 | Operating margin | 23.5% |
|
| 2024 | Operating margin | 33.6% |
|
| 2025 | Operating margin | 35.8% |
|
| 2016-12-31 | Net margin | Not reported |
|
| 2017 | Net margin | 51.2% |
|
| 2018 | Net margin | 23.3% |
|
| 2019 | Net margin | 24.1% |
|
| 2020 | Net margin | 20.6% |
|
| 2021 | Net margin | 27% |
|
| 2022 | Net margin | 25.7% |
|
| 2023 | Net margin | 15% |
|
| 2024 | Net margin | 21.6% |
|
| 2025 | Net margin | 23.6% |
|
| 2016 | Free cash flow margin | 11.6% |
|
| 2017 | Free cash flow margin | 14.5% |
|
| 2018 | Free cash flow margin | 15.5% |
|
| 2019 | Free cash flow margin | 16.6% |
|
| 2020 | Free cash flow margin | 21.9% |
|
| 2021 | Free cash flow margin | 25% |
|
| 2022 | Free cash flow margin | 17.8% |
|
| 2023 | Free cash flow margin | 7% |
|
| 2024 | Free cash flow margin | 13.8% |
|
| 2025 | Free cash flow margin | 17.7% |
|
Cash generated by the company’s normal business operations.
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 3034000000 |
|
| 2017 | Operating cash flow | 3253000000 |
|
| 2018 | Operating cash flow | 3726000000 |
|
| 2019 | Operating cash flow | 3892000000 |
|
| 2020 | Operating cash flow | 3637000000 |
|
| 2021 | Operating cash flow | 4255000000 |
|
| 2022 | Operating cash flow | 4222000000 |
|
| 2023 | Operating cash flow | 3179000000 |
|
| 2024 | Operating cash flow | 4052000000 |
|
| 2025 | Operating cash flow | 4361000000 |
|
Operating cash flow minus capital expenditure for the same period and unit.
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | 1147000000 |
|
| 2017 | Free cash flow | 1530000000 |
|
| 2018 | Free cash flow | 1775000000 |
|
| 2019 | Free cash flow | 1873000000 |
|
| 2020 | Free cash flow | 2143000000 |
|
| 2021 | Free cash flow | 2785000000 |
|
| 2022 | Free cash flow | 2274000000 |
|
| 2023 | Free cash flow | 852000000 |
|
| 2024 | Free cash flow | 1671000000 |
|
| 2025 | Free cash flow | 2157000000 |
|
Liabilities and short-term ability to meet obligations at each period end.
Total liabilities as a share of total assets.
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Liabilities / assets | 64.4% |
|
| 2017 | Liabilities / assets | 54.2% |
|
| 2018 | Liabilities / assets | 57.6% |
|
| 2019 | Liabilities / assets | 60% |
|
| 2020 | Liabilities / assets | 61% |
|
| 2021 | Liabilities / assets | 64.6% |
|
| 2022 | Liabilities / assets | 67.3% |
|
| 2023 | Liabilities / assets | 69.3% |
|
| 2024 | Liabilities / assets | 67.2% |
|
| 2025 | Liabilities / assets | 65.6% |
|
Current assets divided by current liabilities.
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Current assets / current liabilities | 0.98× |
|
| 2017 | Current assets / current liabilities | 0.84× |
|
| 2018 | Current assets / current liabilities | 0.72× |
|
| 2019 | Current assets / current liabilities | 0.9× |
|
| 2020 | Current assets / current liabilities | 1.07× |
|
| 2021 | Current assets / current liabilities | 0.86× |
|
| 2022 | Current assets / current liabilities | 0.76× |
|
| 2023 | Current assets / current liabilities | 1.24× |
|
| 2024 | Current assets / current liabilities | 0.9× |
|
| 2025 | Current assets / current liabilities | 0.85× |
|
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | Unavailable Not reported for this period. | USD 3.03 billion Exact valueExact value: 3034000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.89 billion Exact valueExact value: 1887000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.15 billion Calculation and evidence3034000000 − 1887000000 USD Exact free cash flow: 1147000000 USD
Share or citeThe citation records this snapshot. The page link may show a newer release later. |
| 2017 2017-01-01 – 2017-12-31 | USD 5.4 billion Exact valueExact value: 5404000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.25 billion Exact valueExact value: 3253000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.72 billion Exact valueExact value: 1723000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.53 billion Calculation and evidence3253000000 − 1723000000 USD Exact free cash flow: 1530000000 USD
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| 2018 2018-01-01 – 2018-12-31 | USD 2.67 billion Exact valueExact value: 2666000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.73 billion Exact valueExact value: 3726000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.95 billion Exact valueExact value: 1951000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.78 billion Calculation and evidence3726000000 − 1951000000 USD Exact free cash flow: 1775000000 USD
Share or citeThe citation records this snapshot. The page link may show a newer release later. |
| 2019 2019-01-01 – 2019-12-31 | USD 2.72 billion Exact valueExact value: 2722000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.89 billion Exact valueExact value: 3892000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.02 billion Exact valueExact value: 2019000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.87 billion Calculation and evidence3892000000 − 2019000000 USD Exact free cash flow: 1873000000 USD
Share or citeThe citation records this snapshot. The page link may show a newer release later. |
| 2020 2020-01-01 – 2020-12-31 | USD 2.01 billion Exact valueExact value: 2013000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.64 billion Exact valueExact value: 3637000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.49 billion Exact valueExact value: 1494000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.14 billion Calculation and evidence3637000000 − 1494000000 USD Exact free cash flow: 2143000000 USD
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| 2021 2021-01-01 – 2021-12-31 | USD 3.01 billion Exact valueExact value: 3005000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 4.26 billion Exact valueExact value: 4255000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.47 billion Exact valueExact value: 1470000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.79 billion Calculation and evidence4255000000 − 1470000000 USD Exact free cash flow: 2785000000 USD
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| 2022 2022-01-01 – 2022-12-31 | USD 3.27 billion Exact valueExact value: 3270000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 4.22 billion Exact valueExact value: 4222000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.95 billion Exact valueExact value: 1948000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.27 billion Calculation and evidence4222000000 − 1948000000 USD Exact free cash flow: 2274000000 USD
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| 2023 2023-01-01 – 2023-12-31 | USD 1.83 billion Exact valueExact value: 1827000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 3.18 billion Exact valueExact value: 3179000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.33 billion Exact valueExact value: 2327000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 852 million Calculation and evidence3179000000 − 2327000000 USD Exact free cash flow: 852000000 USD
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| 2024 2024-01-01 – 2024-12-31 | USD 2.62 billion Exact valueExact value: 2622000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 4.05 billion Exact valueExact value: 4052000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.38 billion Exact valueExact value: 2381000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.67 billion Calculation and evidence4052000000 − 2381000000 USD Exact free cash flow: 1671000000 USD
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| 2025 2025-01-01 – 2025-12-31 | USD 2.87 billion Exact valueExact value: 2873000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 4.36 billion Exact valueExact value: 4361000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.2 billion Exact valueExact value: 2204000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.16 billion Calculation and evidence4361000000 − 2204000000 USD Exact free cash flow: 2157000000 USD
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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
266 filings · 7,741 latest values · 7,741 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000702165, 702165, NSC, edgar:702165
Also known as NORFOLK SOUTHERN CORP, NORFOLK SOUTHERN CORPORATION, Norfolk Southern Corporation