Canadian National Railway Co (CNI) Operating Margin (2009 - 2026)
Canadian National Railway's Operating Margin came in at 37.47% for the quarter ended Jun 30, 2026, down 0.87 percentage points from 38.34% a year earlier but up 2.10 percentage points from the prior quarter.
Canadian National Railway Co (CNI) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Canadian National Railway reported Operating Margin of 37.55%, up 0.27 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 38.07%, up 1.42 percentage points from the prior year.
- Operating Margin carries a five-year change of +3.50 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Operating Margin was 36.65% in the year ended Dec 31, 2024 (-2.55 pp), 39.20% in the year ended Dec 31, 2023 (-0.78 pp), 39.98% in the year ended Dec 31, 2022 (+1.19 pp) and 38.79% in the year ended Dec 31, 2021 (+4.22 pp).
- The five-year range for quarterly Operating Margin is 33.09% (the quarter ended Mar 31, 2022) to 42.81% (the quarter ended Sep 30, 2022).
- Year-over-year, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -0.11 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in the quarter ended Sep 30, 2022 (a gain of 5.47 percentage points), and the weakest in the quarter ended Sep 30, 2023 (a drop of 4.76 percentage points).
- Business Quant data shows CNI's Operating Margin at 35.37% (quarter ended Mar 31, 2026), 38.82% (quarter ended Dec 31, 2025) and 38.56% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Comparison
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 37.47% |
| Mar 31, 2026 | 35.37% |
| Dec 31, 2025 | 38.82% |
| Sep 30, 2025 | 38.56% |
| Jun 30, 2025 | 38.34% |
| Mar 31, 2025 | 36.57% |
| Dec 31, 2024 | 37.36% |
| Sep 30, 2024 | 36.86% |
| Jun 30, 2024 | 35.99% |
| Mar 31, 2024 | 36.39% |
| Dec 31, 2023 | 40.66% |
| Sep 30, 2023 | 38.05% |
| Jun 30, 2023 | 39.44% |
| Mar 31, 2023 | 38.53% |
| Dec 31, 2022 | 42.10% |
| Sep 30, 2022 | 42.81% |
| Jun 30, 2022 | 40.72% |
| Mar 31, 2022 | 33.09% |
| Dec 31, 2021 | 41.73% |
| Sep 30, 2021 | 37.34% |
Canadian National Railway Co Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=CNI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "CNI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=CNI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();