Stocks Industrials NSC
NYSE · IndustrialsNorfolk Southern Corp (NSC)
Norfolk Southern Corp brought in $12.5B of revenue over the twelve months to June 30, 2026, up 3.0% from a year earlier. Net income was $2.6B, a net margin of 21.0%. Operating cash flow minus capital spending left $2.2B of free cash flow in fiscal 2025. At June 30, 2026 it held $1.1B in cash against $16.6B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on July 23, 2026.
Key facts about Norfolk Southern Corp
- Net worth
- Norfolk Southern Corp has a market value (market cap) of $72.7B at the latest share price, and shareholders' equity of $16.3B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $12.2B (+0.5% year on year), with net income of $2.9B. Over the 12 months to June 30, 2026: revenue $12.5B, net income $2.6B.
- Cash flow
- In fiscal 2025 operations brought in $4.4B of cash; after $2.2B of capital spending, free cash flow was $2.2B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on July 23, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Norfolk Southern Corp's next report is expected around October 21, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Norfolk Southern Corp declared dividends of $5.40 per share in fiscal 2025, a yield of 1.67% at the current price.
What Norfolk Southern Corp does
Norfolk Southern operates a freight railroad network in the eastern United States. It transports industrial goods, automotive products, agriculture and consumer products, coal, and shipping containers via intermodal rail connections for industrial shippers and ocean carriers. Its shares trade on NYSE under the ticker NSC.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $12.2B | $2.9B | $12.75 | $2.2B |
| 2024 | $12.1B | $2.6B | $11.57 | $1.7B |
| 2023 | $12.2B | $1.8B | $8.02 | $852M |
| 2022 | $12.7B | $3.3B | $13.88 | $2.3B |
| 2021 | $11.1B | $3B | $12.11 | $2.8B |
| 2020 | $9.8B | $2B | $7.84 | $2.1B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where NSC ranks in Industrials
Dividends
Norfolk Southern Corp declared $5.40 per share in fiscal 2025. At the current price that is a yield of 1.67%. It paid out $1.2B in cash dividends, 42% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $5.40 | $1.2B | 42% |
| 2024 | $5.40 | $1.2B | 47% |
| 2023 | $5.40 | $1.2B | 67% |
| 2022 | $4.96 | $1.2B | 36% |
| 2021 | $4.16 | $1B | 34% |
| 2020 | $3.76 | $960M | 48% |
Latest SEC filings
What Norfolk Southern Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- July 23, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 11% to $3.5B versus the same quarter last year; diluted EPS $3.26 versus $3.41.
- July 23, 2026
- June 25, 2026
- June 25, 2026
- June 1, 2026
- May 8, 2026
- April 30, 2026Passive stake (5% or more) SCHEDULE 13G
- April 24, 2026Quarterly report 10-Q · period to March 31, 2026Revenue was flat at $3B versus the same quarter last year; diluted EPS $2.43 versus $3.31.
- April 24, 2026
- April 2, 2026
What is NSC worth? A DCF from its reported cash flow
Insider trades
What the people running Norfolk Southern Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 3 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 8, 2026 | Huffard John C JrDirector | Other changeindirect | 333 | - |
| September 13, 2026 | George Mark RPresident & CEO, Director | Exercised options | 2,653 | - |
| September 13, 2026 | George Mark RPresident & CEO, Director | Shares withheld for tax | 1,035 | $334.6K |
| April 26, 2026 | Orr John FEVP & Chief Operating Officer | Exercised options | 8,319 | - |
| April 26, 2026 | Orr John FEVP & Chief Operating Officer | Shares withheld for tax | 3,247 | $1M |
| January 30, 2026 | Bhatt AnilEVP & CIDO | Exercised options | 641 | - |
| January 30, 2026 | Bhatt AnilEVP & CIDO | Exercised options | 220 | - |
| January 30, 2026 | Bhatt AnilEVP & CIDO | Shares withheld for tax | 60 | $17.4K |
Who owns NSC
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.55% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 1,861 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 16,000,346 | +724,235 |
| Vanguard Capital Management LLC | 14,666,136 | +79,477 |
| State Street Corp | 10,242,817 | +408,771 |
| Vanguard Portfolio Management LLC | 7,215,898 | +3,190,005 |
| Millennium Management LLC | 5,201,728 | +617,642 |
| Geode Capital Management, LLC | 5,114,278 | +38,090 |
| Bank of America Corp | 3,111,914 | -89,179 |
| Norges Bank | 3,040,628 | new |
| Pentwater Capital Management LP | 2,775,000 | -445,000 |
| Northern Trust Corp | 2,614,406 | -23,262 |
| Morgan Stanley | 2,611,985 | -15,435 |
| D. E. Shaw & Co., Inc. | 2,601,202 | +337,722 |
| Dodge & Cox | 2,508,128 | -3,749,622 |
| Dimensional Fund Advisors LP | 2,259,711 | +153 |
| Capital World Investors | 2,011,919 | +5,247 |
| Goldman Sachs Group Inc | 1,888,947 | +263,202 |
| Hbk Investments L P | 1,750,000 | +13,644 |
| Arrowstreet Capital, Limited Partnership | 1,732,049 | +105,361 |
| London Co of Virginia | 1,652,991 | -47,306 |
| Legal & General Group Plc | 1,599,203 | -110,202 |
Insiders
11 insiders reported holding 72,050 shares in total, about $23.3M at the last price.
| Holder | Shares |
|---|---|
| George Mark RPresident & CEO, Director | 22,783 |
| Fahmy SamehDirector | 12,000 |
| Orr John FEVP & Chief Operating Officer | 11,363 |
| Anderson Richard HDirector | 7,0007,000 held indirectly |
| Moore Claiborne LVice President & Controller | 4,970 |
| Zampi Jason AndrewEVP & CFO | 4,145 |
| Lamphere Gilbert HDirector | 3,647 |
| Elkins Claude EEVP & Chief Commercial Officer | 3,365 |
| Bhatt AnilEVP & CIDO | 2,039 |
| Clyburn William Jr.Director | 405 |
Questions about NSC
What does Norfolk Southern Corp do?
Norfolk Southern operates a freight railroad network in the eastern United States. It transports industrial goods, automotive products, agriculture and consumer products, coal, and shipping containers via intermodal rail connections for industrial shippers and ocean carriers. Its shares trade on NYSE under the ticker NSC.
What is Norfolk Southern Corp's net worth?
Norfolk Southern Corp has a market value (market cap) of $72.7B at the latest share price, and shareholders' equity of $16.3B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Norfolk Southern Corp profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $2.6B on revenue of $12.5B, a net margin of 21.0%.
How much revenue does Norfolk Southern Corp make?
Over the twelve months to June 30, 2026 Norfolk Southern Corp reported revenue of $12.5B. That is 3.0% more than a year earlier.
When did Norfolk Southern Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on July 23, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from October 9, 2026.
When is Norfolk Southern Corp's next earnings report?
Norfolk Southern Corp's next report is expected around October 21, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
Does Norfolk Southern Corp pay a dividend?
Yes. Norfolk Southern Corp declared dividends of $5.40 per share in fiscal 2025, a yield of 1.67% at the current price.
Similar companies
Compare NSC with
Follow NSC
Get an email when Norfolk Southern Corp files with the SEC: results, executive changes, material agreements and annual reports.
Where the numbers come from
Financial figures are the values Norfolk Southern Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.