Norfolk Southern (NSC) Gross Margin (2009 - 2026)
Norfolk Southern (NSC) reported Gross Margin of 91.46% for Q1 2026, down 39.0% year-over-year from 149.94% in Q1 2025, and down 0.8% on a QoQ basis from 92.2% in Q4 2025.
Norfolk Southern (NSC) has 18 years of Gross Margin data on file, last reported at 91.46% in Q1 2026.
- Quarterly Gross Margin fell 39.0% year-over-year to 91.46% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 90.69% (down 149.0% YoY) and the FY2025 annual result came in at 92.35%, up 49.0% from the prior year.
- Gross Margin slipped to 91.46% in Q1 2026 per NSC's latest filing, from 92.2% in the prior quarter.
- Across five years, Gross Margin topped out at 95.12% in Q3 2022 and bottomed at 85.39% in Q4 2022.
- The 5-year median for Gross Margin is 91.56% (2024), against an average of 90.71%.
- The widest annual swing landed in 2024, when Gross Margin slumped 721 bps; it then soared 583 bps in 2025.
- Tracing NSC's Gross Margin over 5 years: stood at 85.39% in 2022, then climbed by 6 bps to 90.14% in 2023, then gained by 3 bps to 92.39% in 2024, then declined by 0 bps to 92.2% in 2025, then declined by 1 bps to 91.46% in 2026.
- Per Business Quant, the three latest NSC Gross Margin figures stand at 91.46% (Q1 2026), 92.2% (Q4 2025), and 92.36% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 155.75 Bn | 154.71 Bn | 5.85 Bn | 94.15% |
| 2 | Csx | 84.18 Bn | 83.08 Bn | 3.18 Bn | 91.33% |
| 3 | Norfolk Southern | 68.46 Bn | 67.12 Bn | 2.74 Bn | 91.46% |
| 4 | Canadian Pacific Kansas City | 58.41 Bn | 58.81 Bn | 2.36 Bn | 87.62% |
| 5 | Westinghouse Air Brake Technologies | 44.40 Bn | 43.91 Bn | 1.06 Bn | 35.97% |
| 6 | Trinity Industries | 2.59 Bn | 2.65 Bn | 128.90 Mn | 26.20% |
| 7 | Greenbrier Companies | 1.46 Bn | 968.55 Mn | 69.50 Mn | 11.83% |
| 8 | Foster L B | 419.50 Mn | 416.39 Mn | 25.70 Mn | 21.21% |
| 9 | FreightCar America | 145.10 Mn | 80.80 Mn | - | - |
| 10 | Swvl Holdings | 18.35 Mn | 13.93 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 91.46% |
| Dec 31, 2025 | 92.20% |
| Sep 30, 2025 | 92.36% |
| Jun 30, 2025 | 86.85% |
| Mar 31, 2025 | 91.85% |
| Dec 31, 2024 | 92.39% |
| Sep 30, 2024 | 92.92% |
| Jun 30, 2024 | 91.56% |
| Mar 31, 2024 | 86.02% |
| Dec 31, 2023 | 90.14% |
| Sep 30, 2023 | 90.27% |
| Jun 30, 2023 | 93.12% |
| Mar 31, 2023 | 93.23% |
| Dec 31, 2022 | 85.39% |
| Sep 30, 2022 | 95.12% |
| Jun 30, 2022 | 87.45% |
| Mar 31, 2022 | 89.67% |
| Dec 31, 2021 | 86.64% |
| Sep 30, 2021 | 94.04% |
| Jun 30, 2021 | 93.28% |
| Mar 31, 2021 | 93.29% |
| Dec 31, 2020 | 98.64% |
| Sep 30, 2020 | 92.70% |
| Jun 30, 2020 | 92.76% |
| Mar 31, 2020 | 92.80% |
| Dec 31, 2019 | 99.63% |
| Sep 30, 2019 | 92.05% |
| Jun 30, 2019 | 93.44% |
| Mar 31, 2019 | 93.31% |
| Dec 31, 2018 | 83.15% |
| Sep 30, 2018 | 93.15% |
| Jun 30, 2018 | 90.61% |
| Mar 31, 2018 | 90.21% |
| Dec 31, 2017 | 93.74% |
| Sep 30, 2017 | 92.58% |
| Jun 30, 2017 | 92.79% |
| Mar 31, 2017 | 91.84% |
| Dec 31, 2016 | 92.21% |
| Sep 30, 2016 | 92.83% |
| Jun 30, 2016 | 92.91% |
| Mar 31, 2016 | 93.84% |
| Dec 31, 2015 | 90.63% |
| Sep 30, 2015 | 91.85% |
| Jun 30, 2015 | 90.60% |
| Mar 31, 2015 | 89.72% |
| Dec 31, 2014 | 87.91% |
| Sep 30, 2014 | 87.20% |
| Jun 30, 2014 | 86.59% |
| Mar 31, 2014 | 83.93% |
| Dec 31, 2013 | 86.01% |
| Sep 30, 2013 | 86.19% |
| Jun 30, 2013 | 86.05% |
| Mar 31, 2013 | 84.33% |
| Dec 31, 2012 | 85.28% |
| Sep 30, 2012 | 85.93% |
| Jun 30, 2012 | 86.43% |
| Mar 31, 2012 | 85.19% |
| Dec 31, 2011 | 85.59% |
| Sep 30, 2011 | 86.67% |
| Jun 30, 2011 | 85.62% |
| Mar 31, 2011 | 85.15% |
| Dec 31, 2010 | 87.12% |
| Sep 30, 2010 | 89.45% |
| Jun 30, 2010 | 89.38% |
| Mar 31, 2010 | 88.65% |
| Dec 31, 2009 | 89.51% |
| Sep 30, 2009 | 90.69% |
| Jun 30, 2009 | 91.76% |
| Mar 31, 2009 | 91.82% |