Norfolk Southern (NSC) Free Cash Flow (2009 - 2026)
Norfolk Southern (NSC) reported Free Cash Flow of -$38.0 million for Q1 2026, down 107.58% year-over-year from $501.0 million in Q1 2025, and down 101.5% on a QoQ basis from $2.5 billion in Q4 2025.
Norfolk Southern (NSC) has 18 years of Free Cash Flow data on file, last reported at -$38.0 million in Q1 2026.
- Quarterly Free Cash Flow fell 107.58% year-over-year to -$38.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $3.8 billion (up 2.94% YoY) and the FY2025 annual result came in at $4.4 billion, up 81.03% from the prior year.
- Free Cash Flow retreated to -$38.0 million in Q1 2026 per NSC's latest filing, from $2.5 billion in the prior quarter.
- Across five years, Free Cash Flow topped out at $2.5 billion in Q4 2025 and bottomed at -$803.0 million in Q1 2024.
- The 5-year median for Free Cash Flow is $605.0 million (2022), against an average of $715.5 million.
- The widest annual swing landed in 2023, when Free Cash Flow jumped 1522.73%; it then sank 168.46% in 2024.
- Tracing NSC's Free Cash Flow over 5 years: stood at $132.0 million in 2022, then jumped by 1522.73% to $2.1 billion in 2023, then plunged by 55.6% to $951.0 million in 2024, then surged by 166.88% to $2.5 billion in 2025, then plunged by 101.5% to -$38.0 million in 2026.
- Per Business Quant, the three latest NSC Free Cash Flow figures stand at -$38.0 million (Q1 2026), $2.5 billion (Q4 2025), and -$204.0 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 155.75 Bn | 154.71 Bn | 5.85 Bn | 1.50 Bn |
| 2 | Csx | 84.18 Bn | 83.08 Bn | 3.18 Bn | 729.00 Mn |
| 3 | Norfolk Southern | 68.46 Bn | 67.12 Bn | 2.74 Bn | -38.00 Mn |
| 4 | Canadian Pacific Kansas City | 58.41 Bn | 58.81 Bn | 2.36 Bn | 227.51 Mn |
| 5 | Westinghouse Air Brake Technologies | 44.40 Bn | 43.91 Bn | 1.06 Bn | 153.00 Mn |
| 6 | Trinity Industries | 2.59 Bn | 2.65 Bn | 128.90 Mn | -51.40 Mn |
| 7 | Greenbrier Companies | 1.46 Bn | 968.55 Mn | 69.50 Mn | 128.60 Mn |
| 8 | Foster L B | 419.50 Mn | 416.39 Mn | 25.70 Mn | -13.40 Mn |
| 9 | FreightCar America | 145.10 Mn | 80.80 Mn | - | - |
| 10 | Swvl Holdings | 18.35 Mn | 13.93 Mn | - | -1.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -38.00 Mn |
| Mar 31, 2026 | -38.00 Mn |
| Dec 31, 2025 | 2.54 Bn |
| Dec 31, 2025 | 2.54 Bn |
| Sep 30, 2025 | -204.00 Mn |
| Sep 30, 2025 | -204.00 Mn |
| Jun 30, 2025 | 1.53 Bn |
| Jun 30, 2025 | 1.53 Bn |
| Mar 31, 2025 | 501.00 Mn |
| Mar 31, 2025 | 501.00 Mn |
| Dec 31, 2024 | 951.00 Mn |
| Dec 31, 2024 | 951.00 Mn |
| Sep 30, 2024 | 708.00 Mn |
| Sep 30, 2024 | 708.00 Mn |
| Jun 30, 2024 | 1.55 Bn |
| Jun 30, 2024 | 1.55 Bn |
| Mar 31, 2024 | -803.00 Mn |
| Mar 31, 2024 | -803.00 Mn |
| Dec 31, 2023 | 2.14 Bn |
| Dec 31, 2023 | 2.14 Bn |
| Sep 30, 2023 | 117.00 Mn |
| Sep 30, 2023 | 117.00 Mn |
| Jun 30, 2023 | -275.00 Mn |
| Jun 30, 2023 | -275.00 Mn |
| Mar 31, 2023 | 1.17 Bn |
| Mar 31, 2023 | 1.17 Bn |
| Dec 31, 2022 | 132.00 Mn |
| Dec 31, 2022 | 132.00 Mn |
| Sep 30, 2022 | 968.00 Mn |
| Sep 30, 2022 | 968.00 Mn |
| Jun 30, 2022 | 569.00 Mn |
| Jun 30, 2022 | 569.00 Mn |
| Mar 31, 2022 | 605.00 Mn |
| Mar 31, 2022 | 605.00 Mn |
| Dec 31, 2021 | 497.00 Mn |
| Dec 31, 2021 | 497.00 Mn |
| Sep 30, 2021 | 818.00 Mn |
| Sep 30, 2021 | 818.00 Mn |
| Jun 30, 2021 | 720.00 Mn |
| Jun 30, 2021 | 720.00 Mn |
| Mar 31, 2021 | 750.00 Mn |
| Mar 31, 2021 | 750.00 Mn |
| Dec 31, 2020 | 429.00 Mn |
| Dec 31, 2020 | 429.00 Mn |
| Sep 30, 2020 | 691.00 Mn |
| Sep 30, 2020 | 691.00 Mn |
| Jun 30, 2020 | 434.00 Mn |
| Jun 30, 2020 | 434.00 Mn |
| Mar 31, 2020 | 589.00 Mn |
| Mar 31, 2020 | 589.00 Mn |
| Dec 31, 2019 | 370.00 Mn |
| Dec 31, 2019 | 370.00 Mn |
| Sep 30, 2019 | 530.00 Mn |
| Sep 30, 2019 | 530.00 Mn |
| Jun 30, 2019 | 559.00 Mn |
| Jun 30, 2019 | 559.00 Mn |
| Mar 31, 2019 | 414.00 Mn |
| Mar 31, 2019 | 414.00 Mn |
| Dec 31, 2018 | 217.00 Mn |
| Dec 31, 2018 | 217.00 Mn |
| Sep 30, 2018 | 568.00 Mn |
| Sep 30, 2018 | 568.00 Mn |
| Jun 30, 2018 | 557.00 Mn |
| Jun 30, 2018 | 557.00 Mn |
| Mar 31, 2018 | 433.00 Mn |
| Mar 31, 2018 | 433.00 Mn |
| Dec 31, 2017 | 380.00 Mn |
| Dec 31, 2017 | 380.00 Mn |
| Sep 30, 2017 | 457.00 Mn |
| Sep 30, 2017 | 457.00 Mn |
| Jun 30, 2017 | 285.00 Mn |
| Jun 30, 2017 | 285.00 Mn |
| Mar 31, 2017 | 408.00 Mn |
| Mar 31, 2017 | 408.00 Mn |
| Dec 31, 2016 | 139.00 Mn |
| Dec 31, 2016 | 139.00 Mn |
| Sep 30, 2016 | 508.00 Mn |
| Sep 30, 2016 | 508.00 Mn |
| Jun 30, 2016 | 19.00 Mn |
| Jun 30, 2016 | 19.00 Mn |
| Mar 31, 2016 | 481.00 Mn |
| Mar 31, 2016 | 481.00 Mn |
| Dec 31, 2015 | 92.00 Mn |
| Dec 31, 2015 | 92.00 Mn |
| Sep 30, 2015 | -184.00 Mn |
| Sep 30, 2015 | -184.00 Mn |
| Jun 30, 2015 | 376.00 Mn |
| Jun 30, 2015 | 376.00 Mn |
| Mar 31, 2015 | 239.00 Mn |
| Mar 31, 2015 | 239.00 Mn |
| Dec 31, 2014 | -170.00 Mn |
| Dec 31, 2014 | -170.00 Mn |
| Sep 30, 2014 | 339.00 Mn |
| Sep 30, 2014 | 339.00 Mn |
| Jun 30, 2014 | 421.00 Mn |
| Jun 30, 2014 | 421.00 Mn |
| Mar 31, 2014 | 207.00 Mn |
| Mar 31, 2014 | 207.00 Mn |
| Dec 31, 2013 | 173.00 Mn |
| Dec 31, 2013 | 173.00 Mn |
| Sep 30, 2013 | 312.00 Mn |
| Sep 30, 2013 | 312.00 Mn |
| Jun 30, 2013 | 278.00 Mn |
| Jun 30, 2013 | 278.00 Mn |
| Mar 31, 2013 | 344.00 Mn |
| Mar 31, 2013 | 344.00 Mn |
| Dec 31, 2012 | -130.00 Mn |
| Dec 31, 2012 | -130.00 Mn |
| Sep 30, 2012 | 259.00 Mn |
| Sep 30, 2012 | 259.00 Mn |
| Jun 30, 2012 | 121.00 Mn |
| Jun 30, 2012 | 121.00 Mn |
| Mar 31, 2012 | 574.00 Mn |
| Mar 31, 2012 | 574.00 Mn |
| Dec 31, 2011 | -264.00 Mn |
| Dec 31, 2011 | -264.00 Mn |
| Sep 30, 2011 | 519.00 Mn |
| Sep 30, 2011 | 519.00 Mn |
| Jun 30, 2011 | 583.00 Mn |
| Jun 30, 2011 | 583.00 Mn |
| Mar 31, 2011 | 229.00 Mn |
| Mar 31, 2011 | 229.00 Mn |
| Dec 31, 2010 | 23.00 Mn |
| Dec 31, 2010 | 23.00 Mn |
| Sep 30, 2010 | 408.00 Mn |
| Sep 30, 2010 | 408.00 Mn |
| Jun 30, 2010 | 311.00 Mn |
| Jun 30, 2010 | 311.00 Mn |
| Mar 31, 2010 | 502.00 Mn |
| Mar 31, 2010 | 502.00 Mn |
| Dec 31, 2009 | 105.00 Mn |
| Dec 31, 2009 | 105.00 Mn |
| Sep 30, 2009 | 379.00 Mn |
| Sep 30, 2009 | 379.00 Mn |
| Jun 30, 2009 | -34.00 Mn |
| Jun 30, 2009 | -34.00 Mn |
| Mar 31, 2009 | 111.00 Mn |
| Mar 31, 2009 | 111.00 Mn |