Norfolk Southern (NSC) Debt Ratio (2009 - 2026)
Norfolk Southern's Debt Ratio came in at 0.36 for Q3 2026, down 5.6% from 0.38 a year earlier and down 1.8% from the prior quarter.
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Analysis
Norfolk Southern (NSC) Debt Ratio (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Norfolk Southern reported Debt Ratio of 1.47, down 5.0% year-over-year; for FY2025, it came in at 0.38, down 4.1% from FY2024.
- Going back by year, Debt Ratio was 0.39 in FY2024 (-4.5%), 0.41 in FY2023 (+5.6%), 0.39 in FY2022 (+8.6%) and 0.36 in FY2021 (+7.6%).
- The Q3 2026 figure represents the lowest quarterly Debt Ratio since Q4 2021.
- Year-over-year, Debt Ratio has declined for nine consecutive quarters, with an average decline of 4.8% over the last eight quarters.
- The fastest year-over-year change in Debt Ratio over five years came in Q1 2022 (growth of 13.4%), and the weakest in Q2 2026 (a decline of 6.4%).
- Business Quant data shows NSC's Debt Ratio at 0.37 (Q2 2026), 0.38 (Q1 2026) and 0.38 (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 176.01 Bn | 168.25 Bn | - | 0.42 |
| 2 | Csx | 93.62 Bn | 88.85 Bn | - | 0.42 |
| 3 | United Parcel Service | 92.85 Bn | 69.67 Bn | - | 0.36 |
| 4 | Canadian Pacific Kansas City | 82.31 Bn | 81.35 Bn | - | 0.29 |
| 5 | Fedex | 74.59 Bn | 40.78 Bn | - | 0.25 |
| 6 | Norfolk Southern | 72.94 Bn | 67.40 Bn | - | 0.36 |
| 7 | Delta Air Lines | 59.87 Bn | 42.05 Bn | - | 0.16 |
| 8 | United Airlines Holdings | 39.08 Bn | -18.61 Bn | - | 0.31 |
| 9 | Old Dominion Freight Line | 34.91 Bn | 33.76 Bn | - | 0.00 |
| 10 | Ryanair Holdings | 32.51 Bn | -871.89 Mn | - | 0.07 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 0.36 |
| Jun 30, 2026 | 0.37 |
| Mar 31, 2026 | 0.38 |
| Dec 31, 2025 | 0.38 |
| Sep 30, 2025 | 0.38 |
| Jun 30, 2025 | 0.39 |
| Mar 31, 2025 | 0.39 |
| Dec 31, 2024 | 0.39 |
| Sep 30, 2024 | 0.40 |
| Jun 30, 2024 | 0.41 |
| Mar 31, 2024 | 0.42 |
| Dec 31, 2023 | 0.41 |
| Sep 30, 2023 | 0.41 |
| Jun 30, 2023 | 0.39 |
| Mar 31, 2023 | 0.38 |
| Dec 31, 2022 | 0.39 |
| Sep 30, 2022 | 0.38 |
| Jun 30, 2022 | 0.38 |
| Mar 31, 2022 | 0.38 |
| Dec 31, 2021 | 0.36 |
API Access
Norfolk Southern Debt Ratio 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=debt-ratio&ticker=NSC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "NSC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=NSC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();