Growth Metrics

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

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DateValue
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