Norfolk Southern (NSC) Debt to Equity (2009 - 2026)
Norfolk Southern (NSC) reported Debt to Equity of $1.08 for Q1 2026, down 8.79% year-over-year from $1.19 in Q1 2025, and down 1.55% on a QoQ basis from $1.1 in Q4 2025.
Norfolk Southern (NSC) has 18 years of Debt to Equity data on file, last reported at $1.08 in Q1 2026.
- Quarterly Debt to Equity fell 8.79% year-over-year to $1.08 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.08 (down 8.79% YoY) and the FY2025 annual result came in at $1.1, down 8.62% from the prior year.
- Debt to Equity slipped to $1.08 in Q1 2026 per NSC's latest filing, from $1.1 in the prior quarter.
- Across five years, Debt to Equity topped out at $1.37 in Q1 2024 and bottomed at $1.08 in Q1 2026.
- The 5-year median for Debt to Equity is $1.16 (2023), against an average of $1.2.
- The widest annual swing landed in 2022, when Debt to Equity advanced 27.98%; it then retreated 13.45% in 2025.
- Tracing NSC's Debt to Equity over 5 years: stood at $1.14 in 2022, then advanced by 17.39% to $1.34 in 2023, then declined by 10.52% to $1.2 in 2024, then dropped by 8.62% to $1.1 in 2025, then slipped by 1.55% to $1.08 in 2026.
- Per Business Quant, the three latest NSC Debt to Equity figures stand at $1.08 (Q1 2026), $1.1 (Q4 2025), and $1.13 (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 155.75 Bn | 154.71 Bn | 5.85 Bn | 1.58 |
| 2 | Csx | 84.18 Bn | 83.08 Bn | 3.18 Bn | 1.39 |
| 3 | Norfolk Southern | 68.46 Bn | 67.12 Bn | 2.74 Bn | 1.08 |
| 4 | Canadian Pacific Kansas City | 58.41 Bn | 58.81 Bn | 2.36 Bn | 0.52 |
| 5 | Westinghouse Air Brake Technologies | 44.40 Bn | 43.91 Bn | 1.06 Bn | 0.59 |
| 6 | Trinity Industries | 2.59 Bn | 2.65 Bn | 128.90 Mn | - |
| 7 | Greenbrier Companies | 1.46 Bn | 968.55 Mn | 69.50 Mn | - |
| 8 | Foster L B | 419.50 Mn | 416.39 Mn | 25.70 Mn | 0.34 |
| 9 | FreightCar America | 145.10 Mn | 80.80 Mn | - | -1.00 |
| 10 | Swvl Holdings | 18.35 Mn | 13.93 Mn | - | 0.43 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.08 |
| Dec 31, 2025 | 1.10 |
| Sep 30, 2025 | 1.13 |
| Jun 30, 2025 | 1.17 |
| Mar 31, 2025 | 1.19 |
| Dec 31, 2024 | 1.20 |
| Sep 30, 2024 | 1.25 |
| Jun 30, 2024 | 1.32 |
| Mar 31, 2024 | 1.37 |
| Dec 31, 2023 | 1.34 |
| Sep 30, 2023 | 1.31 |
| Jun 30, 2023 | 1.16 |
| Mar 31, 2023 | 1.15 |
| Dec 31, 2022 | 1.14 |
| Sep 30, 2022 | 1.16 |
| Jun 30, 2022 | 1.14 |
| Mar 31, 2022 | 1.10 |
| Dec 31, 2021 | 0.97 |
| Sep 30, 2021 | 1.00 |
| Jun 30, 2021 | 0.96 |
| Mar 31, 2021 | 0.86 |
| Dec 31, 2020 | 0.86 |
| Sep 30, 2020 | 0.85 |
| Jun 30, 2020 | 0.85 |
| Mar 31, 2020 | 0.82 |
| Dec 31, 2019 | 0.80 |
| Sep 30, 2019 | 0.75 |
| Jun 30, 2019 | 0.75 |
| Mar 31, 2019 | 0.73 |
| Dec 31, 2018 | 0.73 |
| Sep 30, 2018 | 0.72 |
| Jun 30, 2018 | 0.58 |
| Mar 31, 2018 | 0.62 |
| Dec 31, 2017 | 0.60 |
| Sep 30, 2017 | 0.73 |
| Jun 30, 2017 | 0.78 |
| Mar 31, 2017 | 0.76 |
| Dec 31, 2016 | 0.81 |
| Sep 30, 2016 | 0.77 |
| Jun 30, 2016 | 0.78 |
| Mar 31, 2016 | 0.78 |
| Dec 31, 2015 | 0.79 |
| Sep 30, 2015 | 0.77 |
| Jun 30, 2015 | 0.78 |
| Mar 31, 2015 | 0.73 |
| Dec 31, 2014 | 0.72 |
| Sep 30, 2014 | 0.72 |
| Jun 30, 2014 | 0.73 |
| Mar 31, 2014 | 0.80 |
| Dec 31, 2013 | 0.83 |
| Sep 30, 2013 | 0.87 |
| Jun 30, 2013 | 0.83 |
| Mar 31, 2013 | 0.83 |
| Dec 31, 2012 | 0.88 |
| Sep 30, 2012 | 0.86 |
| Jun 30, 2012 | 0.82 |
| Mar 31, 2012 | 0.81 |
| Dec 31, 2011 | 0.75 |
| Sep 30, 2011 | 0.66 |
| Jun 30, 2011 | 0.65 |
| Mar 31, 2011 | 0.62 |
| Dec 31, 2010 | 0.62 |
| Sep 30, 2010 | 0.61 |
| Jun 30, 2010 | 0.59 |
| Mar 31, 2010 | 0.60 |
| Dec 31, 2009 | 0.68 |
| Sep 30, 2009 | 0.70 |
| Jun 30, 2009 | 0.72 |