Norfolk Southern Corp
Norfolk Southern Corp (NSC) is listed on NYSE and classified in Railroads, part of the Industrials sector. It is headquartered in Atlanta, United States and has 19,300 employees. The company is worth $75.97B and trades at 28.9x its earnings of the last twelve months; the median for its sector is 24.3x. Revenue was $12.18B in fiscal 2025, up 0.5% from the year before. Net income was $2.87B. The share price is 5.7% below its 52-week high of $358.60. It pays a dividend yielding 1.60%. 6 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Israel Englander (Millennium Management), at $1.64B. In that quarter, 4 of them opened or added to the position and 1 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +23.2% over 5Y.
today you would have $1,238.93▲ +23.9%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 19 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $288.72 | $234.70 | $236.38 | $246.42 | $297.71 | $237.61 | $194.13 | $149.54 | $144.90 | $108.07 | $84.59 | $109.61 | $92.83 | $61.84 | $72.86 | $62.82 | $52.42 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 10.2% a year plus a 1.6% dividend yield. Growth capped at 25%.
Median P/E of 24.3 among peers in the sector.
Median P/E of 17.2 across this company’s own years on record.
Cash flow growing 10.2% a year for 10 years, discounted at 10%, then 2.5% forever.
Sector median of 13.2x operating profit, less net debt. Banks have no EBITDA.
Dividend growing 7.1% a year against a 10.4% required return, from the stock’s beta.
Companies of similar size in Industrials, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| CNICanadian National Railway Co | $124.93 | 22.2x | 4.9x | 2.07% | 22.02% | $75.47B |
| VRTVertiv Holdings Co | $195.59 | 44.3x | 15.8x | 0.13% | 43.94% | $75.3B |
| HWMHowmet Aerospace Inc. | $193.29 | 41.7x | 13.5x | 0.29% | 34.73% | $77.08B |
| RSGRepublic Services Inc | $241.90 |
| $47.05 |
| $50.44 |
| P/E | 17.2x | 22.6x | 20.3x | 29.5x | 17.8x | 24.6x | 30.3x | 18.9x | 15.7x | 7.8x | 19.2x | 16.6x | 17.2x | 15.4x | 11.5x | 13.4x | 15.7x | 19.0x | 10.4x | 13.7x |
| P/S | 3.3x | 5.3x | 4.4x | 4.4x | 4.4x | 6.4x | 6.1x | 4.4x | 3.5x | 3.9x | 3.2x | 2.4x | 2.9x | 2.6x | 1.8x | 2.2x | 2.4x | 2.4x | 1.6x | — |
| P/B | 2.6x | 4.2x | 3.7x | 4.2x | 4.4x | 5.2x | 4.0x | 3.3x | 2.6x | 2.5x | 2.5x | 2.1x | 2.7x | 2.5x | 2.0x | 2.4x | 2.1x | 1.9x | 1.8x | — |
| EPS | $12.75 | $11.57 | $8.02 | $13.88 | $12.11 | $7.84 | $10.25 | $9.51 | $18.61 | $5.62 | $5.10 | $6.39 | $6.04 | $5.37 | $5.45 | $4.00 | $2.76 | $4.52 | $3.68 |
| Dividend yield | 2.18% | 1.87% | 2.30% | 2.28% | 2.01% | 1.40% | 1.58% | 1.85% | 2.03% | 1.68% | 2.18% | 3.49% | 2.03% | 2.20% | 3.14% | 2.28% | 2.23% | 2.59% | 2.59% | 1.90% |
| Payout | 35.12% | 42.35% | 46.67% | 67.33% | 35.73% | 34.35% | 47.96% | 35.12% | 31.97% | 13.11% | 41.99% | 57.84% | 34.74% | 33.77% | 36.13% | 30.46% | 35.00% | 49.28% | 26.99% | 26.09% |
| Profit margin | 17.15% | 23.59% | 21.63% | 15.03% | 25.66% | 26.97% | 20.56% | 24.10% | 23.27% | 51.22% | 16.87% | 14.80% | 17.21% | 16.99% | 15.84% | 17.15% | 15.72% | 12.98% | 16.10% | 15.52% |
| ROE | 17.35% | 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% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
7 methods answered, across 4 families.
Room for errors in the reported numbers.
-41.5% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 34.3x |
| 6.2x |
| 1.11% |
| 18.15% |
| $74.07B |
| NOCNorthrop Grumman Corp | $552.35 | 17.4x | 4.2x | 1.79% | 26.07% | $78.47B |
| ITWIllinois Tool Works Inc | $279.24 | 25.1x | 27.5x | 2.46% | 104.62% | $79.53B |