Reading the tape
NYSE: NSC
Norfolk Southern Corporation
Industrials · Railroads
Market Cap
$70.39B
52w High
$323.37
52w Low
$218.05
P/E
26.42
Volume
153.88K
Outstanding Shares
224.59M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: 41.1%Revenue (TTM): 0.6%FCF (TTM): 102.33%P/FCF: 8th pct
What changed
The stock rose 41.1% over the last year. Revenue grew 0.6% over the trailing twelve months. Operating margin moved from 36.25% to 32.39%. Free cash flow grew 102.33% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 32.39%. A decisive move in revenue — currently up 0.6% — would be the clearest signal to resolve the ambiguity.
Company profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States.
CEOMark R. George
SectorIndustrials
IndustryRailroads
Employees19,600
IPO dateJun 2, 1982
Valuation
Forward P/E—
EV/EBITDA13.75
Enterprise value$80.46B
Stock splits
Oct 10, 1997↑ Forward
Every 1 shares became 3
Apr 7, 1987↑ Forward
Every 1 shares became 3
Oct 27, 1976↑ Forward
Every 1 shares became 3
Profitability & growth
Revenue growth0.17%
Gross margin45.31%▲36.66%vs FY2024
Operating margin32.39%▲5.98%vs FY2024
ROE18.48%▲0.83%vs FY2024
Analyst consensus
RatingHold
Target price$332.00▲5.93%
21
Buy
24
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 4, 2026
Q3 FY26 · EPS est $3.14 · Revenue est $3.22B
View
Dividends
$5.40/shareQuarterlyDividend Achiever · 24yrEx-div May 8, 2026 · in 4dSafeNSC pays a dividend with a 1.72% declared yield, 24 consecutive years of growth, growing at 6.95% annually, covered 1.8× by free cash flow.
Declared Yield
1.72%
Annual Div / Share
$5.40
5yr CAGR
+6.95%
Doubles every ~10.3yr
Payout Ratio
45.39%
Safe
Dividend Growth Rate
3yr CAGR
+1.4%
5yr CAGR
+6.95%
10yr CAGR
+8.63%
Dividend Safety
8/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$5.40+0.0%
2025$5.40+0.0%
2024$5.40+4.2%
2023$5.18+11.2%
2022$4.66+20.7%
2021$3.86+2.7%
2020$3.76+13.3%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$17/yr
$1/mo
In 5 yrs
$24/yr+40%
$2/mo
In 10 yrs
$34/yr+96%
$3/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$17/yr $1/mo | $24/yr+40% $2/mo | $34/yr+96% $3/mo |
Yield-on-cost grows from 1.72% → 3.37% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
NSC has raised its dividend for 24 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 1.8× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 6.95% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.