OakChart

Norfolk Southern Corp

NSCIndustrials·Railroads·USA·Large·NYSE·Nov 12 • 3:59 PM ET

333.24+2.65 (0.80%)
2026-11-13 13:15 CET
Market cap
$74.85B
Revenue, TTM
12,963.00 USD m
Net income, TTM
2,681.00 USD m
Free cash flow, TTM
1,647.00 USD m
EPS diluted, TTM
11.92
Price / earnings
27.95
Compare

Price

NSC against its 20, 50 and 200-day averages
Terms2050200Miss
Patternshover a marker to name it
RS 66Sales 3,478Price3,3273,381300.00320.00340.00360.001.7M3.3MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26NSCclose 333.2420-day 333.3250-day 324.11200-day 317.15333.2452w high 358.6052-week range, not 6 months

7.1% under the 52-week high of 358.60 on 23 Jul 2026. 52-week low 277.80 on 20 Jan 2026. Last 15 sessions, 8.8% high to low

Volume 0.00× normal · the session has not printed · the line is the 50-bar volume average

Setup. RS line 66
CANSLIM 3 of 6 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); Performance: Year +50%
VCP 5 of 6 — fails: Average True Range: Under 2
Minervini 3 of 4 — fails: Performance: Year +50%
Zanger 3 of 5 — fails: Performance: Week +10%; Relative Volume: Over 1.5
Leaders 4 of 5 — fails: Performance: Year +50%
Breakout 2 of 4 — fails: 52-Week High/Low: New High; Relative Volume: Over 2
Growth 1 of 4 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); EPS Growth Next Year: High (>25%)
Quality 2 of 5 — fails: Debt/Equity: Low (<0.1); P/E: Under 25; Current Ratio: Over 1
Value 1 of 4 — fails: P/E: Under 15; P/B: Under 2; Debt/Equity: Low (<0.1)
Income 0 of 4 — fails: Dividend Yield: Over 2%; Dividend Growth: Growing 2+ Years; Payout Ratio: Low (<20%); P/E: Under 25
Small Cap 2 of 4 — fails: Float: Under 100M; Performance: Year +50%
Accumulation 3 of 4 — fails: Institutional Transactions: Over +10%
Relative Strength 2 of 3 — fails: Performance: Year +100%

Profile

NSC
52-week range, 69% of the way up
277.80358.60

Norfolk Southern Corp. is a transportation company, which engages in the rail transportation of raw materials, intermediate products, and finished goods. The company also transports overseas freight through several Atlantic and Gulf Coast ports. Its services include property leases and sales, wire line or pipeline and fiber optics projects, access property, managing private crossings, promoting businesses with signboards, and natural resource management. The company was founded on July 23, 1980, and is headquartered in Atlanta, GA.

IndexS&P 500, RUI
Employees19300
IPOJun 02, 1982
Beta1.18
ATR, 14d6.76
Rel volume0.00
Short float2.63%
Insider own0.10%
Inst own78.23%

Snapshot

6 groups

Valuation

IndexS&P 500, RUI
Market Cap$74.85B
Enterprise Value89.87B
Income2.68B
Sales12.96B
Book / share74.48
Cash / share7.11
Dividend Est.5.42 (1.63%)
Dividend TTM5.40 (1.62%)
Dividend Ex-DateNov 06, 2026
Dividend Gr. 3/5Y2.87% 7.51%
Payout42.36%
Employees19300
IPOJun 02, 1982

Ratios

Price / earnings27.95
Forward price / earnings22.88
Price / earnings / growth2.69
Price / sales5.77
Price / book4.47
Price / cash46.84
Price / free cash flow45.45
Value / cash profit15.93
Value / sales6.93
Quick Ratio0.81
Current Ratio0.90
Debt / equity0.99
Long-term debt / equity0.95
Options and shortYes / Yes

Earnings

Earnings / share11.92
Earnings next year14.57
Earnings next quarter3.27
Earnings this year4.58%
Earnings next year11.50%
Earnings growth, 5 years8.50%
Past earnings growth-2.79% 10.22%
Past sales growth-1.50% 4.47%
Earnings vs last year-9.02%
Sales vs last year5.99%
Earnings vs last quarter6.66%
Sales vs last quarter13.63%
EarningsOct 22 BMO
Surprise4.49% 0.61%

Ownership

Insiders own0.10%
Insider trades0.00%
Institutions own78.23%
Institution trades-0.62%
Return on assets5.92%
Return on equity16.82%
Return on capital8.20%
Gross Margin32.52%
Operating margin32.52%
Profit Margin20.68%
20-day average-0.03%
50-day average2.82%
200-day average5.07%

Technical

Shares out224.62M
Shares floating224.39M
Short / float2.63%
Short ratio5.75
Short interest5.90M
52-week high358.60 -7.1%
52-week low277.80 +20.0%
Volatility1.50% 1.99%
Average range6.76
Strength index52.77
Market sensitivity1.18
Relative volume0.00
Avg Volume1.03M
Volume0

Performance

Perf Week1.21%
Perf Month2.94%
Perf Quarter-0.35%
Perf Half Y4.91%
Perf YTD15.42%
Perf Year16.32%
Perf 3Y69.26%
Perf 5Y20.92%
Perf 10Y230.23%
Recommendation2.64
Target Price358.65
Prev Close333.24
Price333.24
Change %0.00%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Apr 27, 2026ReiteratedTD CowenBuy$313 → $337+1.1%
Feb 06, 2026DowngradeUBSBuy → Neutral$342+2.6%
Dec 11, 2025DowngradeDeutsche BankBuy → Hold
Oct 24, 2025ReiteratedTD CowenBuy$320 → $314-5.8%
Jul 25, 2025DowngradeJefferiesBuy → Hold$300-10.0%
Jul 21, 2025UpgradeTD CowenHold → Buy$323-3.1%
Jul 09, 2025DowngradeCitigroupBuy → Neutral$288-13.6%
Jul 01, 2025ResumedRobert W. BairdNeutral$255-23.5%
Jun 02, 2025DowngradeGoldmanBuy → Neutral$278-16.6%
Mar 07, 2025InitiatedDeutsche BankBuy$293-12.1%

Peers

Mkt cap
TickerCompanyMkt cap
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CPCanadian Pacific Kansas City Limited82.17B
WABWestinghouse Air Brake Technologies Corp50.43B
JBHTJ.B. Hunt Transport Services Inc21.21B
ODFLOld Dominion Freight Line Inc35.37B
GBXGreenbrier Cos. Inc1.30B
TRNTrinity Industries Inc2.36B
KNXKnight-Swift Transportation Holdings Inc10.03B

Insider trading

latest 14 of 22
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Barr BrianChief Operating OfficerOct 24 '26Option Exercise0.0065301,471Oct 26 06:20 PM
Bhatt AnilEVP & CIDOOct 24 '26Option Exercise0.003,25905,298Oct 26 06:20 PM
George Mark RPresident & CEOSep 13 '26Option Exercise0.002,653023,818Sep 15 12:21 PM
Orr John FEVP & Chief Operating OfficerApr 26 '26Option Exercise0.008,319014,610Apr 28 01:33 PM
LAMPHERE GILBERT HDirectorJan 30 '26Option Exercise0.0070003,647Feb 03 05:32 PM
Moore Claiborne LVice President & ControllerJan 30 '26Option Exercise0.0067305,154Feb 03 05:08 PM
Orr John FEVP & Chief Operating OfficerJan 30 '26Option Exercise0.001,50506,701Feb 03 05:08 PM
George Mark RPresident & CEOJan 30 '26Option Exercise0.003,691022,609Feb 03 05:08 PM
Zampi Jason AndrewEVP & CFOJan 30 '26Option Exercise0.001,07504,439Feb 03 05:08 PM
Elkins Claude EEVP & Chief Commercial OfficerJan 30 '26Option Exercise0.001,30403,721Feb 03 05:08 PM
Bhatt AnilEVP & CIDOJan 30 '26Option Exercise0.0086102,274Feb 03 05:08 PM
George Mark RPresident & CEOJan 27 '26Option Exercise0.00775019,221Jan 28 06:38 PM
George Mark RPresident & CEOJan 26 '26Option Exercise0.00625018,691Jan 28 06:38 PM
Moore Claiborne LVice President & ControllerJan 27 '26Option Exercise0.0025404,551Jan 28 06:38 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 696.31B
VOOVanguard S&P 500 ETFAUM: 1070.75B
IVViShares Core S&P 500 ETFAUM: 882.14B
SPYSPDR S&P 500 ETF TrustAUM: 805.69B
VOVanguard Morningstar Mid-Cap ETFAUM: 108.45B
VTVVanguard Morningstar Value ETFAUM: 198.14B
XLIState Street Industrial Select Sector SPDR ETFAUM: 31.31B
PAVEGlobal X U.S. Infrastructure Development ETFAUM: 13.65B
VYMVanguard High Dividend Yield Indx ETFAUM: 83.97B
VOEVanguard Morningstar Mid-Cap Value ETFAUM: 24.78B

News

latest 14 of 200

Quarterly earnings

2026Q3 EPS 3.620 beat 3.465, from 3.300 a year earlier. Sales 3,500 beat 3,479, from 3,100 a year earlier
EPS
3.62002024Q4 EPS 3.040 against 2.93824Q42025Q1 EPS 2.690 against 2.66325Q12025Q2 EPS 3.290 against 3.30525Q22025Q3 EPS 3.300 against 3.18925Q32025Q4 EPS 3.220 against 2.76125Q42026Q1 EPS 2.650 against 2.49126Q12026Q2 EPS 3.520 against 3.32226Q22026Q3 EPS 3.620 against 3.46526Q3
Sales, USD millions
3,50002024Q4 sales 3,000 against 3,01524Q42025Q1 sales 2,993 against 2,97125Q12025Q2 sales 3,110 against 3,12825Q22025Q3 sales 3,100 against 3,11225Q32025Q4 sales 2,974 against 3,00125Q42026Q1 sales 3,000 against 2,99626Q12026Q2 sales 3,500 against 3,37826Q22026Q3 sales 3,500 against 3,47926Q3

The outline behind the bar is the estimate. The filled bar is the print. Green beat it, red missed it.

PeriodReportedEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mSurpriseYear-ago quarterAnalystsNext session
2026Q3ended 2026-09-302026-10-22 08:303.6203.4653.3703,5003,479EPS +4.5% · sales +0.6%vs 2025Q3, year-ago quarter · EPS +9.7% · sales +12.9%20 EPS · 16 salesOpen -0.73% vs SPY -0.87%. Close +3.09% vs SPY -1.18%
2026Q2ended 2026-06-302026-07-23 08:303.5203.3223.2583,5003,378EPS +6.0% · sales +3.6%vs 2025Q2, year-ago quarter · EPS +7.0% · sales +12.5%20 EPS · 16 salesOpen +3.64% vs SPY -1.08%. Close +5.32% vs SPY -1.23%
2026Q1ended 2026-03-312026-04-24 08:302.6502.4912.4313,0002,996EPS +6.4% · sales +0.1%vs 2025Q1, year-ago quarter · EPS -1.5% · sales +0.2%20 EPS · 16 salesOpen +0.60% vs SPY +0.32%. Close -0.54% vs SPY +0.77%
2025Q4ended 2025-12-312026-01-29 08:303.2202.7612.8652,9743,001EPS +16.6% · sales -0.9%vs 2024Q4, year-ago quarter · EPS +5.9% · sales -0.9%22 EPS · 17 salesOpen -0.17% vs SPY +0.14%. Close +2.00% vs SPY -0.20%
2025Q3ended 2025-09-302025-10-23 16:303.3003.1893.1603,1003,112EPS +3.5% · sales -0.4%vs 2024Q3, year-ago quarter · EPS +1.5% · sales 0.0%22 EPS · 17 salesOpen -0.12% vs SPY +0.70%. Close -1.17% vs SPY +0.82%
2025Q2ended 2025-06-302025-07-29 08:303.2903.3053.4093,1103,128EPS -0.5% · sales -0.6%vs 2024Q2, year-ago quarter · EPS +7.5% · sales +2.2%23 EPS · 18 salesOpen -3.84% vs SPY +0.22%. Close -3.04% vs SPY -0.26%
2025Q1ended 2025-03-312025-04-23 08:302.6902.6633.3072,9932,971EPS +1.0% · sales +0.7%vs 2024Q1, year-ago quarter · EPS +8.0% · sales -0.4%24 EPS · 19 salesOpen +2.27% vs SPY +2.50%. Close +0.89% vs SPY +1.55%
2024Q4ended 2024-12-312025-01-29 08:303.0402.9383.2333,0003,015EPS +3.5% · sales -0.5%vs 2023Q4, year-ago quarter · EPS +7.4% · sales -2.4%24 EPS · 18 salesOpen +4.92% vs SPY -0.13%. Close +1.75% vs SPY -0.45%
2024Q3ended 2024-09-302024-10-22 08:303.2503.1074.8523,1003,086EPS +4.6% · sales +0.5%vs 2023Q3, year-ago quarter · EPS +22.6% · sales +4.3%23 EPS · 18 salesOpen +3.78% vs SPY -0.44%. Close +4.94% vs SPY -0.05%
2024Q2ended 2024-06-302024-07-25 16:303.0602.8623.2513,0443,039EPS +6.9% · sales +0.2%vs 2023Q2, year-ago quarter · EPS +3.7% · sales +2.1%22 EPS · 17 salesOpen +8.57% vs SPY +0.72%. Close +10.91% vs SPY +1.12%
2024Q1ended 2024-03-312024-04-24 08:302.4902.5260.2303,0043,018EPS -1.4% · sales -0.5%vs 2023Q1, year-ago quarter · EPS -25.0% · sales -3.1%19 EPS · 15 salesOpen -2.07% vs SPY +0.18%. Close -3.60% vs SPY -0.05%
2023Q4ended 2023-12-312024-01-26 08:302.8302.8702.3293,0733,087EPS -1.4% · sales -0.4%vs 2022Q4, year-ago quarter · EPS -17.3% · sales -5.1%25 EPS · 18 salesOpen -2.09% vs SPY -0.09%. Close -1.51% vs SPY -0.13%
2023Q3ended 2023-09-302023-10-25 08:302.6502.6862.1012,9712,944EPS -1.3% · sales +0.9%vs 2022Q3, year-ago quarter · EPS -35.4% · sales -11.1%24 EPS · 17 sales-
2023Q2ended 2023-06-302023-07-27 08:302.9503.1071.5612,9803,080EPS -5.0% · sales -3.2%vs 2022Q2, year-ago quarter · EPS -14.5% · sales -8.3%26 EPS · 19 sales-
2023Q1ended 2023-03-312023-04-26 08:303.3203.1462.0413,1003,102EPS +5.5% · sales -0.1%vs 2022Q1, year-ago quarter · EPS +13.3% · sales +6.3%26 EPS · 19 sales-
2022Q4ended 2022-12-312023-01-25 08:303.4203.4373.4243,2373,206EPS -0.5% · sales +1.0%vs 2021Q4, year-ago quarter · EPS +9.6% · sales +13.6%26 EPS · 20 sales-

Annual earnings

2025FY EPS 12.490 beat 12.019, from 11.850 a year earlier. Sales 12,180 missed 12,215, from 12,100 a year earlier
EPS
13.88002018FY EPS 9.510 against 9.23720182019FY EPS 10.250 against 10.05220192020FY EPS 9.250 against 9.10320202021FY EPS 12.110 against 12.01620212022FY EPS 13.880 against 13.67920222023FY EPS 11.740 against 11.79420232024FY EPS 11.850 against 11.75520242025FY EPS 12.490 against 12.0192025
Sales, USD millions
12,74502018FY sales 11,458 against 11,41520182019FY sales 11,296 against 11,30520192020FY sales 9,800 against 9,75620202021FY sales 11,100 against 11,11020212022FY sales 12,745 against 12,70920222023FY sales 12,156 against 12,17120232024FY sales 12,100 against 12,11820242025FY sales 12,180 against 12,2152025

Reported years only. The outline behind the bar is the estimate. A later year with no print stays in the table.

earnings feed, not the snapshot. Not the statement ratio.

PeriodEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mP/E, earnings feed
2030FYestimate-18.530--16,23217.98
2029FYestimate-17.498--15,43119.04
2028FYestimate-15.954--14,79620.89
2027FYestimate-14.565--14,18822.88
2026FYestimate-13.062--13,46625.51
2025FY12.49012.01912.75012,18012,21523.12
2024FY11.85011.75511.57212,10012,11819.81
2023FY11.74011.7948.02112,15612,17120.14
2022FY13.88013.67913.87512,74512,70917.75
2021FY12.11012.01612.11211,10011,11024.58
2020FY9.2509.1037.8379,8009,75625.69
2019FY10.25010.05210.24911,29611,30518.94
2018FY9.5109.2379.51111,45811,41515.72
2017FY6.6106.49718.61510,55110,53421.92
2016FY5.6205.5815.6209,8889,88119.23
2015FY5.1005.1645.10010,51110,55165.34
2014FY6.3906.3856.39011,62411,69552.15
2013FY5.8505.7236.04011,24511,20856.96
2012FY5.3705.2695.37011,04011,03162.06
2011FY5.3905.3485.45011,17211,19561.83
2010FY4.0734.0114.0009,5169,54581.83

Quarterly results

2026Q3 revenue 3,526, from 3,103 a year earlier. Operating margin 34.6%, from 33.2% a year earlier
Revenue, USD millions
3,52602024Q4 revenue 3,02424Q42025Q1 revenue 2,99325Q12025Q2 revenue 3,11025Q22025Q3 revenue 3,10325Q32025Q4 revenue 2,97425Q42026Q1 revenue 2,99826Q12026Q2 revenue 3,46526Q22026Q3 revenue 3,52626Q3
Operating margin
36.102024Q4 operating margin 36.1%24Q42025Q1 operating margin 31.3%25Q12025Q2 operating margin 35.5%25Q22025Q3 operating margin 33.2%25Q32025Q4 operating margin 29.6%25Q42026Q1 operating margin 30.8%26Q12026Q2 operating margin 34.5%26Q22026Q3 operating margin 34.6%26Q3

From the quarterly statement. Not an estimate.

Estimate revisions

Latest snapshot of each period and type. 2026FY E 13.06 per share.
PeriodTypeScaleDateMeanvs prior date
2026FYEper share2026-11-1013.06+0.1%
2026Q4Eper share2026-11-063.27+0.2%
2026FYSUSD millions2026-11-0613,466+0.0%
2026FYRper share2026-10-2312.440.0%
2026Q4Rper share2026-10-233.22-0.4%
2026Q4SUSD millions2026-10-233,478+0.1%
2026Q3Eper share2026-10-193.46-0.1%
2026Q3SUSD millions2026-10-193,479+0.2%
2026Q3Rper share2026-10-183.430.0%
2026Q2Eper share2026-07-223.320.0%
2026Q2SUSD millions2026-07-153,378+0.3%
2026Q2Rper share2026-07-143.28+0.7%
2026Q1Eper share2026-04-202.49-0.4%
2026Q1Rper share2026-04-202.51-0.7%
2026Q1SUSD millions2026-04-202,996+0.0%
2025FYRper share2026-01-2412.510.0%
2025FYSUSD millions2026-01-2412,2150.0%
2025Q4SUSD millions2026-01-243,0010.0%
2025FYEper share2026-01-2112.020.0%
2025Q4Eper share2026-01-212.76-0.2%
2025Q4Rper share2026-01-152.78-0.6%
2025Q3Eper share2025-10-153.19-0.2%
2025Q3Rper share2025-10-133.25-0.5%
2025Q3SUSD millions2025-10-133,112-0.1%
2025Q2Eper share2025-07-243.31-0.1%
2025Q2SUSD millions2025-07-243,1280.0%
2025Q2Rper share2025-07-143.31+0.3%
2025Q1Eper share2025-04-162.66-0.4%
2025Q1Rper share2025-04-162.71-2.5%
2025Q1SUSD millions2025-04-162,971+0.0%
2024FYEper share2025-01-2611.750.0%
2024FYSUSD millions2025-01-2212,118-0.1%
2024Q4Eper share2025-01-212.94-0.2%
2024Q4SUSD millions2025-01-213,015+0.0%
2024FYRper share2025-01-1711.35-0.1%
2024Q4Rper share2025-01-172.99-0.6%
2024Q3Eper share2024-10-223.11+0.1%
2024Q3SUSD millions2024-10-223,084-0.1%
2024Q3Rper share2024-10-153.15+0.1%
2024Q2Eper share2024-07-162.86-0.2%
2024Q2Rper share2024-07-162.90-0.3%
2024Q2SUSD millions2024-07-163,039-0.1%
2024Q1Eper share2024-04-162.53-0.4%
2024Q1Rper share2024-04-161.42-17.7%
2024Q1SUSD millions2024-04-163,018-0.1%
2023FYEper share2024-01-2311.790.0%
2023FYRper share2024-01-199.42+0.1%
2023FYSUSD millions2024-01-1912,171+0.0%

Estimate history

Annual
Metric201720182019202020212022202320242025TTMMRQ
EPS per share18.6159.51110.2497.83712.11213.8758.02111.57212.74711.9244-
Sales USD millions10,55111,45811,2969,78911,14212,74512,15612,12312,18012,963-
Shares million shares284268258252240228226226224-225
Quarterly
MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
EPS per share4.8523.2333.3073.4093.162.8652.4313.2583.37
Sales USD millions3,0513,0242,9933,1103,1032,9742,9983,4653,526
Shares million shares226226225225224224225225225

Income statement, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Total Revenue12,963.0012,180.00+0.5%12,123.00-0.3%12,156.00-4.6%12,745.00+14.4%11,142.00+13.8%9,789.00-13.3%11,296.00-1.4%11,458.00
Cost of Goods Sold Incl. D&A8,747.008,229.00-1.6%8,359.00-10.6%9,348.00+16.7%8,012.00+18.2%6,777.00+6.0%6,392.00-13.7%7,403.00-1.3%7,499.00
Gross Profit4,216.003,951.00+5.0%3,764.00+34.0%2,808.00-40.7%4,733.00+8.4%4,365.00+28.5%3,397.00-12.7%3,893.00-1.7%3,959.00
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income4,216.003,951.00+5.0%3,764.00+34.0%2,808.00-40.7%4,733.00+8.4%4,365.00+28.5%3,397.00-12.7%3,893.00-1.7%3,959.00
Interest Expense782.00792.00-1.9%807.00+11.8%722.00+4.3%692.00+7.1%646.00+3.4%625.00+3.5%604.00+8.4%557.00
Unusual Expense258.00-152.00-183.1%183.000.000.000.00-100.0%78.00+358.8%17.000.00
Net Income Before Taxes3,426.003,665.00+10.1%3,329.00+43.5%2,320.00-43.8%4,130.00+6.5%3,878.00+53.3%2,530.00-27.5%3,491.00+0.6%3,469.00
Income Taxes742.00792.00+12.0%707.00+43.4%493.00-42.7%860.00-1.5%873.00+68.9%517.00-32.8%769.00-4.2%803.00
Consolidated Net Income2,681.002,870.00+9.6%2,619.00+43.6%1,824.00-44.2%3,268.00+8.8%3,003.00+49.4%2,010.00-26.0%2,717.00+2.1%2,660.00
Net Income From Continuing Operations2,681.002,870.00+9.6%2,619.00+43.6%1,824.00-44.2%3,268.00+8.8%3,003.00+49.4%2,010.00-26.0%2,717.00+2.1%2,660.00
Net Income2,681.002,870.00+9.6%2,619.00+43.6%1,824.00-44.2%3,268.00+8.8%3,003.00+49.4%2,010.00-26.0%2,717.00+2.1%2,660.00
EPS (Recurring) per share12.7112.28+1.2%12.14+51.4%8.02-42.2%13.88+14.6%12.11+50.4%8.05-21.8%10.29+8.2%9.51
EPS (Basic, Before Extraordinaries) per share11.9412.76+10.2%11.58+44.0%8.04-42.2%13.92+14.5%12.16+54.3%7.88-23.6%10.32+7.7%9.58
EPS (Diluted) per share11.9212.75+10.2%11.57+44.3%8.02-42.2%13.88+14.6%12.11+54.5%7.84-23.5%10.25+7.8%9.51
EBITDA5,642.005,344.00+4.4%5,117.00+24.6%4,106.00-31.0%5,954.00+7.4%5,546.00+21.9%4,551.00-9.5%5,031.00-0.6%5,061.00
Non-Operating Income (Expense)250.00354.00-36.2%555.00+137.2%234.00+162.9%89.00-44.0%159.00-164.00-174.9%219.00+226.9%67.00
Other After Tax Adjustments-3.00-3.00-3.00-3.00-2.00-2.00-3.00-5.00-6.00
Stock Option Compensation Expense67.0047.00+62.1%29.00+16.0%25.00-3.8%26.00+30.0%20.00-16.00-200.0%16.00+14.3%14.00
Price To Earnings Ratio ratio statement ratio, not the snapshot27.9527.9522.0125.9018.1424.5830.2818.9515.71
Price To Sales Ratio ratio5.375.344.384.424.566.636.234.563.66
Gross Margin %32.5232.4431.0523.1037.1439.1834.7034.4634.55
Operating Margin %32.5232.4431.0523.1037.1439.1834.7034.4634.55
Net Margin %20.6823.5621.6015.0025.6426.9520.5324.0523.22
Shares Outstanding million shares224.62224.42-0.8%226.32+0.3%225.68-1.1%228.08-5.0%240.16-4.7%252.10-2.2%257.90-3.8%268.10
Market Capitalization74,851.3774,851.37+41.0%53,098.53-0.7%53,454.03-6.3%57,049.68-21.3%72,446.24+20.0%60,349.38+19.2%50,618.82+24.3%40,726.77

Income statement, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Total Revenue3,526.00+13.6%3,465.00+11.4%2,998.00+0.2%2,974.00-1.7%3,103.00+1.7%3,110.00+2.2%2,993.00-0.4%3,024.00-1.6%
Cost of Goods Sold Incl. D&A2,307.00+11.2%2,270.00+13.2%2,076.00+1.0%2,094.00+8.4%2,074.00+15.5%2,006.00+3.3%2,055.00-23.7%1,931.00-15.2%
Gross Profit1,219.00+18.5%1,195.00+8.2%922.00-1.7%880.00-19.5%1,029.00-18.1%1,104.00+0.1%938.00+200.6%1,093.00+37.5%
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income1,219.00+18.5%1,195.00+8.2%922.00-1.7%880.00-19.5%1,029.00-18.1%1,104.00+0.1%938.00+200.6%1,093.00+37.5%
Interest Expense193.00-2.0%197.00-2.0%197.00-1.0%195.00-2.0%197.00-3.0%201.00-1.5%199.00-1.0%199.00+2.1%
Unusual Expense70.00+337.5%72.0062.0054.00+100.0%16.00-73.3%-37.00-185.00-286.9%27.00
Net Income Before Taxes987.00+6.8%959.00-3.9%715.00-26.9%765.00-17.6%924.00-35.2%998.00+5.7%978.00+3160.0%928.00+42.5%
Income Taxes228.00+7.0%225.00-2.2%168.00-26.3%121.00-37.9%213.00-35.1%230.00+11.1%228.00195.00+57.3%
Consolidated Net Income759.00+6.8%733.00-4.4%546.00-27.1%643.00-12.2%711.00-35.3%767.00+4.2%749.00+1340.4%732.00+39.2%
Net Income From Continuing Operations759.00+6.8%733.00-4.4%546.00-27.1%643.00-12.2%711.00-35.3%767.00+4.2%749.00+1340.4%732.00+39.2%
Net Income759.00+6.8%733.00-4.4%546.00-27.1%643.00-12.2%711.00-35.3%767.00+4.2%749.00+1340.4%732.00+38.9%
EPS (Recurring) per share3.59+11.8%3.48+5.8%2.62-4.4%3.03-8.7%3.21-36.3%3.29+1.5%2.74+407.4%3.32+42.5%
EPS (Basic, Before Extraordinaries) per share3.38+6.6%3.26-4.4%2.43-26.6%2.87-11.1%3.17-34.8%3.41+4.6%3.31+1339.1%3.23+38.0%
EPS (Diluted) per share3.37+6.6%3.26-4.4%2.43-26.6%2.87-11.1%3.16-34.8%3.41+4.9%3.31+1339.1%3.23+38.6%
EBITDA1,582.00+14.9%1,553.00+7.1%1,274.00-0.8%1,233.00-14.1%1,377.00-13.7%1,450.00+0.8%1,284.00+97.8%1,435.00+27.6%
Non-Operating Income (Expense)31.00-71.3%33.00-43.1%52.00-3.7%134.00+119.7%108.00-75.1%58.00+38.1%54.00+200.0%61.00+19.6%
Other After Tax Adjustments0.00-1.00-1.00-1.000.00-1.00-1.00-1.00
Stock Option Compensation Expense20.00+66.7%21.00+50.0%18.00+38.5%8.00-11.1%12.0014.00+40.0%13.00-7.1%9.00+7.0%
Price To Earnings Ratio ratio statement ratio, not the snapshot27.9526.5122.5322.0220.3017.4820.4822.01
Price To Sales Ratio ratio5.375.645.305.325.524.734.434.39
Gross Margin %34.5734.4930.7529.5933.1635.5031.3436.14
Operating Margin %34.5734.4930.7529.5933.1635.5031.3436.14
Net Margin %21.5321.1518.2121.6222.9124.6625.0324.21
Shares Outstanding million shares224.62+0.1%224.610.0%224.59-0.4%224.42-0.8%224.39-0.8%224.61-0.7%225.44-0.2%226.32+0.3%
Market Capitalization74,851.37+11.1%70,655.03+22.4%64,452.16+20.2%70,652.09+33.1%67,398.19+20.0%57,706.64+19.0%53,630.89-6.8%53,098.53-0.7%

Balance sheet, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/20182017FY12/31/2017
Cash & Short Term Investments1,530.00-6.8%1,641.00+4.7%1,568.00+243.9%456.00-45.6%839.00-24.8%1,115.00+66.9%668.00+86.6%358.00-48.1%690.00
Short Term Receivables988.00-7.6%1,069.00-6.8%1,147.00-0.1%1,148.00+17.6%976.00+15.1%848.00-7.8%920.00-8.8%1,009.00+5.7%955.00
Inventories271.00-2.2%277.00+4.9%264.00+4.3%253.00+16.1%218.00-1.4%221.00-9.4%244.00+17.9%207.00-6.8%222.00
Other Current Assets409.00+103.5%201.00-31.2%292.00+94.7%150.00+11.9%134.000.0%134.00-46.2%249.00-13.5%288.00+2.1%282.00
Total Current Assets3,198.00+0.3%3,188.00-2.5%3,271.00+63.0%2,007.00-7.4%2,167.00-6.5%2,318.00+11.4%2,081.00+11.8%1,862.00-13.4%2,149.00
Net Property, Plant & Equipment36,697.00+1.6%36,102.00+7.1%33,716.00+3.5%32,563.00+1.6%32,064.00+0.9%31,778.00-1.2%32,153.00+3.4%31,091.00+2.5%30,330.00
Total Investments and Advances4,089.00+21.3%3,370.00+10.0%3,065.00+4.2%2,942.00+4.3%2,822.00+5.0%2,688.00+1.0%2,661.00+4.2%2,553.00+4.2%2,451.00
Long-Term Note Receivable---0.00-100.0%23.000.0%23.000.0%23.00-58.2%55.00+41.0%39.00
Deferred Tax Assets367.00-13.6%425.00-21.2%539.00+62.3%332.00-17.2%401.00-11.3%452.00-1.5%459.00+22.4%375.00+16.5%322.00
Other Assets1,252.00+22.5%1,022.00-36.1%1,600.00+16.5%1,373.00-3.1%1,417.00+22.7%1,155.00+14.9%1,005.00+48.2%678.00-8.6%742.00
Total Assets45,603.00+3.4%44,107.00+4.5%42,191.00+7.6%39,217.00+0.8%38,894.00+1.2%38,414.00+0.1%38,382.00+4.8%36,614.00+1.6%36,033.00
Short Term Debt Incl. Current Port. of LT Debt677.00+6.4%636.00+483.5%109.00-86.3%797.00+25.5%635.00-4.9%668.00+61.7%413.00-29.4%585.00-16.4%700.00
Accounts Payable1,649.00+10.8%1,488.00+2.5%1,452.00+29.3%1,123.00-5.2%1,185.00+42.1%834.00-31.4%1,216.00-5.9%1,292.00+6.4%1,214.00
Income Tax Payable340.00+0.9%337.00+28.6%262.00-16.0%312.00+2.3%305.00+16.0%263.00+14.8%229.00-10.2%255.00+20.9%211.00
Other Current Liabilities1,109.00+2.3%1,084.00+34.0%809.00+94.0%417.00+5.3%396.00+0.3%395.00-10.6%442.00-3.7%459.00+9.3%420.00
Total Current Liabilities3,775.00+6.5%3,545.00+34.7%2,632.00-0.6%2,649.00+5.1%2,521.00+16.7%2,160.00-6.1%2,300.00-11.2%2,591.00+1.8%2,545.00
Long Term Debt17,162.00-1.2%17,376.00-3.4%17,996.00+17.4%15,329.00+8.3%14,152.00+9.0%12,980.00+3.0%12,601.00+16.2%10,840.00+15.1%9,416.00
Provision for Risks Charges669.00+0.8%664.00-7.4%717.00-1.5%728.00-7.4%786.00-8.0%854.00+6.6%801.00+7.7%744.00-5.1%784.00
Deferred Tax Liabilities8,078.00+3.0%7,845.00+1.0%7,764.00+2.2%7,597.00+0.4%7,566.00+2.6%7,374.00+1.4%7,274.00+6.4%6,835.00+2.8%6,646.00
Other Liabilities372.00+0.3%371.00+23.3%301.00+66.3%181.00-20.6%228.00-10.6%255.00+14.9%222.00-8.3%242.00-14.5%283.00
Total Liabilities30,056.00+0.9%29,801.00+1.3%29,410.00+11.0%26,484.00+4.9%25,253.00+6.9%23,623.00+1.8%23,198.00+9.2%21,252.00+8.0%19,674.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity15,547.00+8.7%14,306.00+11.9%12,781.00+0.4%12,733.00-6.7%13,641.00-7.8%14,791.00-2.6%15,184.00-1.2%15,362.00-6.1%16,359.00
Total Shareholders Equity15,547.00+8.7%14,306.00+11.9%12,781.00+0.4%12,733.00-6.7%13,641.00-7.8%14,791.00-2.6%15,184.00-1.2%15,362.00-6.1%16,359.00
Accumulated Minority Interest0.000.000.000.000.000.000.000.000.00
Total Equity15,547.00+8.7%14,306.00+11.9%12,781.00+0.4%12,733.00-6.7%13,641.00-7.8%14,791.00-2.6%15,184.00-1.2%15,362.00-6.1%16,359.00
Total Liabilities & Stockholders Equity45,603.00+3.4%44,107.00+4.5%42,191.00+7.6%39,217.00+0.8%38,894.00+1.2%38,414.00+0.1%38,382.00+4.8%36,614.00+1.6%36,033.00
Book Value Per Share per share69.28+9.6%63.21+11.6%56.63+1.4%55.83-1.7%56.80-3.2%58.67-0.3%58.87+2.7%57.30-0.5%57.57
Tangible Book Value Per Share per share69.28+9.6%63.21+11.6%56.63+1.4%55.83-1.7%56.80-3.2%58.67-0.3%58.87+2.7%57.30-0.5%57.57
Full-Time Employees people19,300-1.5%19,600-5.3%20,700+7.3%19,300+6.6%18,100-5.2%19,100---
Price to Book Ratio ratio4.473.854.244.385.244.053.302.613.26
Return on Assets %6.406.074.488.377.775.237.257.3215.10
Return on Equity %19.2319.3414.3024.7821.1213.4117.7916.7737.54
Return on Invested Capital %8.778.275.9311.6510.807.249.7810.1520.95
Quick Ratio ratio0.780.821.140.660.770.970.800.640.76
Current Ratio ratio0.850.901.240.760.861.070.900.720.84

Cash flow, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Net Income2,684.002,873.00+9.6%2,622.00+43.5%1,827.00-44.1%3,270.00+8.8%3,005.00+49.3%2,013.00-26.0%2,722.00+2.1%2,666.00
Depreciation1,426.001,393.00+3.0%1,353.00+4.2%1,298.00+6.3%1,221.00+3.4%1,181.00+2.3%1,154.00+1.3%1,139.00+3.2%1,104.00
Other Funds (Non Cash)-130.00-253.00-490.00-49.00-82.00-86.00-119.3%445.00-42.00-171.00
Funds from Operations4,104.004,290.00+17.2%3,661.00+20.9%3,027.00-32.6%4,492.00+4.9%4,284.00+14.1%3,754.00-9.5%4,149.00+10.0%3,772.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-321.0071.00-81.8%391.00+157.2%152.00-270.00-29.00-117.00-257.00-46.00
Cash from Operating Activities3,783.004,361.00+7.6%4,052.00+27.5%3,179.00-24.7%4,222.00-0.8%4,255.00+17.0%3,637.00-6.6%3,892.00+4.5%3,726.00
Capital Expenditures-2,136.00-2,204.00-4,024.00-2,349.00-1,948.00-1,470.00-1,494.00-2,019.00-1,951.00
Net Assets From Acquisitions0.000.000.000.000.000.000.000.000.00
Sale of Fixed Assets and Businesses317.00164.00-70.6%558.00+548.8%86.00-67.3%263.00+65.4%159.00-52.3%333.00-11.7%377.00+84.8%204.00
Purchase or Sale of Investments67.00-522.00-176.1%686.00+746.9%81.00-1.2%82.00-7.9%89.00-14.00-122.00-237.1%89.00
Purchase of Investments-12.00-621.00-319.00-124.00-12.00-10.00-14.00-122.00-10.00
Sale Or Maturity of Investments79.0099.00-90.1%1,005.00+390.2%205.00+118.1%94.00-5.1%99.000.000.00-100.0%99.00
Other Uses0.000.000.000.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.000.000.000.00
Cash from Investing Activities-1,752.00-2,562.00-2,780.00-2,182.00-1,603.00-1,222.00-1,175.00-1,764.00-1,658.00
Cash Dividends Paid-1,213.00-1,215.00-1,221.00-1,225.00-1,167.00-1,028.00-960.00-949.00-844.00
Change in Capital Stock-15.00-532.00-2146.2%26.00-619.00-3,114.00-3,373.00-1,370.00-2,072.00-2,741.00
Repurchase of Common Pref Stock-16.00-534.000.00-619.00-3,114.00-3,390.00-1,439.00-2,099.00-2,781.00
Sale of Common Pref Stock1.002.00-92.3%26.000.000.00-100.0%17.00-75.4%69.00+155.6%27.00-32.5%40.00
Proceedsfrom Stock Options1.002.00-92.3%26.000.000.00-100.0%17.00-75.4%69.00+155.6%27.00-32.5%40.00
Issuance or Reduction of Debt, Net-623.00-163.00-4.00-100.2%1,959.00+53.2%1,279.00+17.1%1,092.00+171.0%403.00-59.9%1,004.00-21.1%1,273.00
Change in Long Term Debt-623.00-163.00-4.00-100.2%1,959.00+53.2%1,279.00+17.1%1,092.00+171.0%403.00-59.9%1,004.00-21.1%1,273.00
Issuance of Long Term Debt0.00396.00-62.3%1,051.00-68.1%3,293.00+79.7%1,832.00+9.3%1,676.00+113.8%784.00-64.2%2,192.00+8.4%2,023.00
Reduction of Long Term Debt-623.00-559.00-1,055.00-1,334.00-553.00-584.00-381.00-1,188.00-750.00
Net Financing Active Other Cash Flow0.000.000.000.000.000.000.00-100.0%23.000.00
Other Financing Activities Uses0.000.000.000.000.000.000.000.000.00
Cash from Financing Activities-1,851.00-1,910.00-1,199.00-1142.6%115.00-3,002.00-3,309.00-1,927.00-1,994.00-2,312.00
Net Change in Cash180.00-111.00-252.1%73.00-93.4%1,112.00-383.00-276.00-151.6%535.00+299.3%134.00-244.00
Free Cash Flow1,647.002,157.00+7603.6%28.00-96.6%830.00-63.5%2,274.00-18.3%2,785.00+30.0%2,143.00+14.4%1,873.00+5.5%1,775.00
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow ratio160.3469.05--52.4442.0451.5455.8045.01
Deferred Taxes & Investment Tax Credit-277.00+57.4%176.00-49.00-159.0%83.00-54.9%184.00+29.6%142.00-57.0%330.00+90.8%173.00

Balance sheet, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Cash & Short Term Investments1,598.00+12.7%1,069.00-18.0%1,341.00+33.3%1,530.00-6.8%1,418.00+45.4%1,303.00+97.7%1,006.00+54.3%1,641.00+4.7%
Short Term Receivables1,229.00+11.5%1,177.00+4.8%1,123.00-8.8%988.00-7.6%1,102.00-15.4%1,123.00-5.6%1,231.00+2.8%1,069.00-6.8%
Inventories353.00+18.9%327.00+4.5%312.00+14.3%271.00-2.2%297.00+3.1%313.00+1.6%273.00+1.1%277.00+4.9%
Other Current Assets145.00-33.8%228.00+35.7%248.00+29.8%409.00+103.5%219.00+75.2%168.00+13.5%191.00-19.1%201.00-31.2%
Total Current Assets3,325.00+9.5%2,801.00-3.6%3,024.00+12.0%3,198.00+0.3%3,036.00+12.9%2,907.00+26.2%2,701.00+14.6%3,188.00-2.5%
Net Property, Plant & Equipment36,857.00+2.1%36,626.00+2.0%36,442.00+1.8%36,697.00+1.6%36,112.00+2.0%35,921.00+1.8%35,803.00+2.1%36,102.00+7.1%
Total Investments and Advances4,186.00+2.6%4,155.00+2.9%4,116.00+2.8%4,089.00+21.3%4,081.00+2.8%4,038.00+5.9%4,003.00+12.1%3,370.00+10.0%
Deferred Tax Assets---367.00-13.6%---425.00-21.2%
Other Assets1,581.00+17.0%1,540.00+19.5%1,531.00+18.4%1,252.00+22.5%1,351.00+11.9%1,289.00+10.9%1,293.00+12.3%1,022.00-36.1%
Total Assets45,949.00+3.1%45,122.00+2.2%45,113.00+3.0%45,603.00+3.4%44,580.00+3.1%44,155.00+3.8%43,800.00+4.0%44,107.00+4.5%
Short Term Debt Incl. Current Port. of LT Debt649.00+6.9%649.00-28.1%609.00+9.7%677.00+6.4%607.00+9.4%903.00+37.9%555.00+37.4%636.00+483.5%
Accounts Payable2,064.00+24.6%1,783.00+18.6%1,695.00+17.3%1,649.00+10.8%1,657.00+2.7%1,504.00-2.0%1,445.00-4.1%1,488.00+2.5%
Income Tax Payable236.00+4.0%218.00-2.2%320.00-34.7%340.00+0.9%227.00+26.8%223.00+7.2%490.00+120.7%337.00+28.6%
Other Current Liabilities732.00-29.1%720.00-30.6%711.00-25.9%1,109.00+2.3%1,033.00-22.3%1,037.00-18.3%960.00-27.0%1,084.00+34.0%
Total Current Liabilities3,681.00+4.5%3,370.00-8.1%3,335.00-3.3%3,775.00+6.5%3,524.00-4.2%3,667.000.0%3,450.00+0.1%3,545.00+34.7%
Long Term Debt15,964.00-3.1%15,967.00-3.0%16,492.00-1.0%17,162.00-1.2%16,476.00-1.0%16,464.00-2.8%16,660.00-3.0%17,376.00-3.4%
Provision for Risks Charges0.000.000.00669.00+0.8%0.000.000.00664.00-7.4%
Deferred Tax Liabilities7,872.00+1.8%7,818.00+3.8%7,758.00+3.8%8,078.00+3.0%7,734.00+5.0%7,529.00+4.2%7,477.00+3.9%7,845.00+1.0%
Other Liabilities1,702.00-0.2%1,714.00+0.4%1,724.00+1.3%372.00+0.3%1,705.00-4.5%1,708.00-2.2%1,702.00-3.7%371.00+23.3%
Total Liabilities29,219.00-0.7%28,869.00-1.7%29,309.00+0.1%30,056.00+0.9%29,439.00-0.1%29,368.00-0.7%29,289.00-1.0%29,801.00+1.3%
Non-Equity Reserves0.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.00
Common Equity16,730.00+10.5%16,253.00+9.9%15,804.00+8.9%15,547.00+8.7%15,141.00+9.8%14,787.00+13.9%14,511.00+15.8%14,306.00+11.9%
Total Shareholders Equity16,730.00+10.5%16,253.00+9.9%15,804.00+8.9%15,547.00+8.7%15,141.00+9.8%14,787.00+13.9%14,511.00+15.8%14,306.00+11.9%
Accumulated Minority Interest0.000.000.000.000.000.000.000.00
Total Equity16,730.00+10.5%16,253.00+9.9%15,804.00+8.9%15,547.00+8.7%15,141.00+9.8%14,787.00+13.9%14,511.00+15.8%14,306.00+11.9%
Total Liabilities & Stockholders Equity45,949.00+3.1%45,122.00+2.2%45,113.00+3.0%45,603.00+3.4%44,580.00+3.1%44,155.00+3.8%43,800.00+4.0%44,107.00+4.5%
Book Value Per Share per share74.48+10.4%72.36+9.9%70.37+9.3%69.28+9.6%67.48+10.8%65.83+14.7%64.37+16.0%63.21+11.6%
Tangible Book Value Per Share per share74.48+10.4%72.36+9.9%70.37+9.3%69.28+9.6%67.48+10.8%65.83+14.7%64.37+16.0%63.21+11.6%
Full-Time Employees people---19,300-1.5%---19,600-5.3%
Price to Book Ratio ratio4.474.474.144.284.563.983.753.85
Return on Assets %5.925.906.006.406.747.727.726.07
Return on Equity %16.8216.9717.6019.2320.4624.1124.5219.34
Return on Invested Capital %2.322.271.691.972.252.452.402.31
Quick Ratio ratio0.810.730.810.780.780.710.700.82
Current Ratio ratio0.900.830.910.850.860.790.780.90

Cash flow, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Net Income759.00+6.8%734.00-4.4%547.00-27.1%644.00-12.1%711.00-35.3%768.00+4.2%750.00+1315.1%733.00+39.1%
Depreciation363.00+4.3%358.00+3.5%352.00+1.7%353.00+3.2%348.00+2.7%346.00+3.3%346.00+2.7%342.00+3.6%
Other Funds (Non Cash)-1.00-1.00-17.00-111.00-85.00-34.00-23.00-65.00
Funds from Operations1,175.00-0.4%1,151.00+1.7%930.00-17.7%848.00-18.9%1,180.00+0.5%1,132.00+4.9%1,130.00+211.3%1,045.00+23.5%
Extraordinary Item0.000.000.000.000.000.000.000.00
Changes in Working Capital147.00+61.5%-97.00-586.00215.0091.00+75.0%-55.00-180.00-137.8%-94.00
Cash from Operating Activities1,322.00+4.0%1,054.00-2.1%344.00-63.8%1,063.00+11.8%1,271.00+3.7%1,077.00+4.0%950.00+13.2%951.00+41.3%
Capital Expenditures-586.00-439.00-382.00-729.00-551.00-475.00-449.00-675.00
Net Assets From Acquisitions0.000.000.000.000.000.000.000.00
Sale of Fixed Assets and Businesses96.00+77.8%15.00-68.8%162.00+800.0%44.00+41.9%54.00-88.2%48.00+26.3%18.00-43.8%31.00+29.2%
Purchase or Sale of Investments11.00-21.4%8.00-38.5%7.0041.00-93.7%14.0013.00-590.00-282.7%655.00+1497.6%
Purchase of Investments-1.00-2.00-3.00-6.00-2.00-4.00-609.00-1.00
Sale Or Maturity of Investments12.00-25.0%10.00-41.2%10.00-47.4%47.00-92.8%16.00+33.3%17.00+30.8%19.00-94.1%656.00+1357.8%
Other Uses0.000.000.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.000.000.00
Cash from Investing Activities-479.00-416.00-213.00-644.00-5954.5%-483.00-414.00-1,021.0011.00
Cash Dividends Paid-304.00-303.00-303.00-303.00-303.00-303.00-306.00-306.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.000.000.00
Change in Capital Stock1.00-1.00-16.001.00-90.9%-69.00-445.0%-207.00-20800.0%-257.0011.00
Repurchase of Common Pref Stock-11.0011.00-16.000.00-70.00-1500.0%-207.00-20800.0%-257.000.00
Sale of Common Pref Stock12.00+1100.0%-12.000.001.00-90.9%1.00-93.3%0.000.0011.00
Proceedsfrom Stock Options12.00+1100.0%-12.000.001.00-90.9%1.00-93.3%0.000.0011.00
Issuance or Reduction of Debt, Net-11.00-606.00-520.8%-1.00-5.00-301.00144.00-1.00-100.3%-1.00-100.2%
Change in Long Term Debt-11.00-606.00-520.8%-1.00-5.00-301.00144.00-1.00-100.3%-1.00-100.2%
Issuance of Long Term Debt0.000.00-100.0%0.000.000.00-100.0%396.00+98.0%0.00-100.0%0.00-100.0%
Reduction of Long Term Debt-11.00-606.00-1.00-5.00-301.00-252.00-1.00-1.00
Net Financing Active Other Cash Flow0.000.000.000.000.000.000.000.00
Other Financing Activities Uses0.000.000.000.000.000.000.000.00
Cash from Financing Activities-314.00-910.00-320.00-307.00-673.00-366.00-564.00-733.7%-296.00-267.2%
Net Change in Cash529.00+360.0%-272.00-191.6%-189.00112.00-83.2%115.00-63.6%297.00+4142.9%-635.00666.00+974.2%
Free Cash Flow736.00+2.2%615.00+2.2%-38.00-107.6%334.00+21.0%720.00+11.6%602.00+28.9%501.00276.00
Price to Free Cash Flow ratio160.34168.93159.0568.7876.6271.6380.43-

Revenue breakdown

USD millions, so a column adds up to the income statement. Share is of the latest year in that split. The change is versus the older year shown, not TTM.

Region
Name20242025vs 20242025 share
United States12,123.0012,180.00+0.5%100.0%
Total12,123.0012,180.00+0.5%100.0%
Segment
Name20242025vs 20242025 share
Coal1,611.001,487.00-7.7%12.2%
Intermodal3,042.003,009.00-1.1%24.7%
Merchandise7,470.007,684.00+2.9%63.1%
Total12,123.0012,180.00+0.5%100.0%

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-302.63%5.9M224.4M1.02M
2026-10-153.18%7.1M224.4M1.09M
2026-09-303.19%7.2M224.4M1.12M
2026-09-153.40%7.6M224.4M1.18M
2026-08-312.56%5.7M224.4M1.14M
2026-08-143.25%7.3M224.4M1.19M
2026-07-313.40%7.6M224.4M1.17M
2026-07-153.68%8.3M224.4M1.13M
2026-06-303.80%8.5M224.4M1.25M
2026-06-153.66%8.2M224.2M1.23M
2026-05-293.64%8.2M224.4M1.31M
2026-05-153.20%7.2M224.4M1.31M
2026-04-304.33%9.7M224.5M1.36M
2026-04-153.53%8.6M244.7M1.37M
2026-03-313.77%8.5M224.4M1.28M
2026-03-133.89%8.7M224.4M1.23M
2026-02-274.74%10.6M224.4M1.25M
2026-02-134.64%10.4M224.4M1.28M
2026-01-303.63%8.9M244.6M1.24M
2026-01-153.79%9.3M244.6M1.23M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call190141.4145.40.00241.9%0.000.000.991-0.1270.011
call195136.4140.40.00232.3%0.000.000.974-0.3780.029
call200131.4135.40.00222.9%0.000.000.973-0.3750.030
call210121.4125.40.00204.7%0.000.000.971-0.3700.032
call220111.3115.40.00187.3%0.000.000.969-0.3640.034
call230101.3105.40.00170.7%0.000.000.966-0.3580.037
call24091.2095.700.00154.5%0.000.000.962-0.3510.040
call25081.2085.600.00138.8%0.000.000.958-0.3430.043
call26071.5075.400.00123.5%0.000.000.953-0.3330.047
call27061.4065.500.00109.9%0.000.000.947-0.3230.052
call28051.6055.600.0096.3%0.000.000.940-0.3100.058
call29041.7045.7029.9282.7%1.000.000.930-0.2950.066
call30031.9035.9022.0269.7%1.000.000.833-0.6290.122
call31022.1026.2031.6055.3%4.000.000.800-0.5570.136
call32012.8016.808.7044.4%1700.000.735-0.4940.160
call3305.707.003.5526.4%5280.000.601-0.3730.188
call3400.104.202.0835.6%2212.000.358-0.4070.182
call3500.000.650.3326.3%1462.000.136-0.2040.107
call3600.003.400.2536.8%1680.000.091-0.1970.080
call3700.003.400.5545.3%3.000.000.068-0.1830.065
call3800.003.400.0053.8%0.000.000.058-0.1940.058
call3900.003.400.0062.4%0.000.000.052-0.2040.053
call4000.003.400.0071.8%0.000.000.047-0.2190.048
call4100.003.400.0079.4%0.000.000.043-0.2260.044
call4200.003.400.0086.8%0.000.000.040-0.2330.042
call4300.003.400.0093.8%0.000.000.037-0.2390.040
call4400.003.400.00100.6%0.000.000.035-0.2440.038
call4500.003.400.00107.1%0.000.000.033-0.2490.036
call4600.003.400.35113.4%5.000.000.032-0.2530.035
put1900.000.250.00157.9%0.000.00-0.009-0.1070.012
put1950.003.400.00202.0%0.000.00-0.025-0.3690.029
put2000.003.400.00193.7%0.000.00-0.026-0.3660.030
put2100.003.400.00177.6%0.000.00-0.029-0.3600.032
put2200.003.400.00162.5%0.000.00-0.031-0.3540.034
put2300.003.400.00147.7%0.000.00-0.034-0.3470.037
put2400.003.400.00133.3%0.000.00-0.038-0.3390.040
put2500.003.400.35119.4%8.000.00-0.042-0.3290.043
put2600.003.400.85105.9%18.000.00-0.046-0.3190.047
put2700.003.400.1092.6%1110.00-0.052-0.3070.052
put2800.003.500.3085.0%82.000.00-0.074-0.3650.069
put2900.001.050.3566.8%1,4520.00-0.070-0.2780.066
put3000.003.600.8579.1%1150.00-0.166-0.6110.122
put3100.203.700.8363.5%2850.00-0.199-0.5370.136
put3200.004.002.9048.2%99.000.00-0.266-0.4780.160
put3302.104.801.9025.9%1.000.00-0.387-0.3030.187
put3406.2010.204.5032.4%2.000.00-0.642-0.3840.182
put35014.9018.808.9539.5%10.000.00-0.864-0.1800.107
put36024.9028.800.0052.6%0.000.00-0.909-0.1720.080
put37034.8038.800.0066.1%0.000.00-0.933-0.1630.063
put38044.8048.800.0077.1%0.000.00-0.942-0.1740.057
put39054.8058.800.0087.5%0.000.00-0.948-0.1820.052
put40064.8068.800.0097.2%0.000.00-0.953-0.1900.048
put41074.8078.800.00106.5%0.000.00-0.957-0.1960.044
put42084.8088.800.00115.4%0.000.00-0.960-0.2010.042
put43094.8098.800.00123.9%0.000.00-0.962-0.2060.040
put440104.8108.80.00132.0%0.000.00-0.964-0.2100.038
put450114.8118.80.00139.9%0.000.00-0.966-0.2140.036
put460124.8128.80.00147.5%0.000.00-0.968-0.2170.035

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-10-264Statement of changes in beneficial ownership of securities2026-10-24SEC
2026-10-264Statement of changes in beneficial ownership of securities2026-10-24SEC
2026-10-2210-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-228-KCurrent report2026-10-22SEC
2026-10-094Statement of changes in beneficial ownership of securities2026-10-08SEC
2026-10-024Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-024Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-09-154Statement of changes in beneficial ownership of securities2026-09-13SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-07-294Statement of changes in beneficial ownership of securities2026-07-27SEC
2026-07-2310-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-07-238-KCurrent report2026-07-23SEC
2026-07-014Statement of changes in beneficial ownership of securities2026-06-30SEC
2026-07-014Statement of changes in beneficial ownership of securities2026-06-30SEC
2026-06-2511-KAnnual reports of employee stock purchase, savings and similar plans pursuant to Section 15(d)2025-12-31SEC
2026-06-2511-KAnnual reports of employee stock purchase, savings and similar plans pursuant to Section 15(d)2025-12-31SEC
2026-06-093Initial statement of beneficial ownership of securities2026-06-01SEC
2026-06-018-KCurrent report2026-05-31SEC
2026-05-224Statement of changes in beneficial ownership of securities2026-05-20SEC
2026-05-224Statement of changes in beneficial ownership of securities2026-05-20SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-080000
2026-070000
2026-060000
2026-050000
2026-040000
2026-030000
2026-020000
2026-010000
2025-1260.14K100
2025-11466.90K1253.44K1

Institutional holders

Manager% owned
BlackRock, Inc.7.12%
VANGUARD CAPITAL MANAGEMENT LLC6.53%
STATE STREET CORP4.56%
VANGUARD PORTFOLIO MANAGEMENT LLC3.21%
MILLENNIUM MANAGEMENT LLC2.32%
GEODE CAPITAL MANAGEMENT, LLC2.31%
BANK OF AMERICA CORP /DE/1.39%
NORGES BANK1.35%
Pentwater Capital Management LP1.24%
NORTHERN TRUST CORP1.16%

Funds

Fund% owned
VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND12.16%
VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND12.08%
Baird Core Plus Bond Fund8.01%
VANGUARD TOTAL BOND MARKET INDEX FUND7.60%
Baird Aggregate Bond Fund7.57%
VANGUARD INTERMEDIATE-TERM BOND INDEX FUND7.11%
Bond Fund of America6.68%
Brookfield Infrastructure Income Fund Inc.6.22%
Columbia Select Corporate Income Fund5.95%
American Funds Strategic Bond Fund5.88%

OakChart. NSC. Cached 15 minutes. Terms