Norfolk Southern (NSC) FCF Margin (2009 - 2026)
Norfolk Southern's FCF Margin came in at 20.87% for Q3 2026, down 2.33 percentage points from 23.20% a year earlier but up 3.12 percentage points from the prior quarter.
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Analysis
Norfolk Southern (NSC) FCF Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Norfolk Southern reported FCF Margin of 12.71%, down 4.46 percentage points year-over-year; for FY2025, it was 17.71%, up 17.48 percentage points from FY2024.
- FCF Margin carries a five-year change of -4.18 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was 0.23% in FY2024 (-6.60 pp), 6.83% in FY2023 (-11.01 pp), 17.84% in FY2022 (-7.15 pp) and 25.00% in FY2021 (+3.10 pp).
- The five-year range for quarterly FCF Margin is -45.27% (Q1 2024) to 28.96% (Q3 2022).
- Year-over-year, FCF Margin has declined for three consecutive quarters, with an average year-over-year change of +7.90 percentage points over the last eight quarters.
- The fastest year-over-year change in FCF Margin over five years came in Q1 2025 (a gain of 62.01 percentage points), and the weakest in Q1 2024 (a drop of 69.06 percentage points).
- Business Quant data shows NSC's FCF Margin at 17.75% (Q2 2026), -1.27% (Q1 2026) and 11.23% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 176.01 Bn | 168.25 Bn | - | 24.48% |
| 2 | Csx | 93.62 Bn | 88.85 Bn | - | 25.49% |
| 3 | United Parcel Service | 92.85 Bn | 69.67 Bn | - | 10.53% |
| 4 | Canadian Pacific Kansas City | 82.31 Bn | 81.35 Bn | - | 22.21% |
| 5 | Fedex | 74.59 Bn | 40.78 Bn | - | 7.16% |
| 6 | Norfolk Southern | 72.94 Bn | 67.40 Bn | - | 20.87% |
| 7 | Delta Air Lines | 59.87 Bn | 42.05 Bn | - | 1.49% |
| 8 | United Airlines Holdings | 39.08 Bn | -18.61 Bn | - | -9.37% |
| 9 | Old Dominion Freight Line | 34.91 Bn | 33.76 Bn | - | 25.30% |
| 10 | Ryanair Holdings | 32.51 Bn | -871.89 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 20.87% |
| Jun 30, 2026 | 17.75% |
| Mar 31, 2026 | -1.27% |
| Dec 31, 2025 | 11.23% |
| Sep 30, 2025 | 23.20% |
| Jun 30, 2025 | 19.36% |
| Mar 31, 2025 | 16.74% |
| Dec 31, 2024 | 9.13% |
| Sep 30, 2024 | 21.14% |
| Jun 30, 2024 | 15.34% |
| Mar 31, 2024 | -45.27% |
| Dec 31, 2023 | -5.86% |
| Sep 30, 2023 | 3.77% |
| Jun 30, 2023 | 5.13% |
| Mar 31, 2023 | 23.79% |
| Dec 31, 2022 | 4.08% |
| Sep 30, 2022 | 28.96% |
| Jun 30, 2022 | 17.51% |
| Mar 31, 2022 | 20.75% |
| Dec 31, 2021 | 17.43% |
API Access
Norfolk Southern FCF 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=fcf-margin&ticker=NSC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=NSC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();