Norfolk Southern (NSC) Invested Capital (2009 - 2026)
Norfolk Southern's Invested Capital was $32.87 billion in Q2 2026, up 2.2% from $32.15 billion a year earlier but down 0.1% from the prior quarter.
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Analysis
Norfolk Southern (NSC) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Invested Capital at Norfolk Southern came in at $32.63 billion, up 3.6% from FY2024.
- Invested Capital has now increased for four consecutive years, with a five-year compound annual growth rate of 3.5% (FY2020 to FY2025).
- In earlier years, Invested Capital was $31.51 billion in FY2024 (+5.2%), $29.96 billion in FY2023 (+7.3%), $27.92 billion in FY2022 (+1.6%) and $27.48 billion in FY2021 (unchanged).
- Quarterly Invested Capital has moved between $27.48 billion (Q4 2021) and $32.91 billion (Q1 2026) over five years.
- Compared with a year earlier, Invested Capital has increased for 12 straight quarters, with growth averaging 4.4% over the last eight quarters.
- The best year-over-year quarter for Invested Capital over five years was Q2 2024 (growth of 10.1%); the worst was Q1 2023 (a decline of 2.1%).
- Per Business Quant data, NSC's Invested Capital in the three quarters before Q2 2026 was $32.91 billion (Q1 2026), $32.63 billion (Q4 2025) and $32.22 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 161.79 Bn | 156.31 Bn | - | 51.00 Bn |
| 2 | Csx | 86.21 Bn | 82.43 Bn | - | 32.95 Bn |
| 3 | Canadian Pacific Kansas City | 74.26 Bn | 73.97 Bn | - | 52.60 Bn |
| 4 | United Parcel Service | 70.36 Bn | 47.28 Bn | - | 39.58 Bn |
| 5 | Norfolk Southern | 69.74 Bn | 64.38 Bn | - | 32.87 Bn |
| 6 | Fedex | 67.91 Bn | 33.85 Bn | - | 57.36 Bn |
| 7 | Delta Air Lines | 55.33 Bn | 37.51 Bn | - | 36.87 Bn |
| 8 | Old Dominion Freight Line | 36.95 Bn | 36.21 Bn | - | 4.57 Bn |
| 9 | United Airlines Holdings | 36.28 Bn | -20.09 Bn | - | 43.16 Bn |
| 10 | Ryanair Holdings | 28.28 Bn | 12.29 Bn | 3.13 Bn | 11.09 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.87 Bn |
| Mar 31, 2026 | 32.91 Bn |
| Dec 31, 2025 | 32.63 Bn |
| Sep 30, 2025 | 32.22 Bn |
| Jun 30, 2025 | 32.15 Bn |
| Mar 31, 2025 | 31.73 Bn |
| Dec 31, 2024 | 31.51 Bn |
| Sep 30, 2024 | 30.98 Bn |
| Jun 30, 2024 | 30.57 Bn |
| Mar 31, 2024 | 30.12 Bn |
| Dec 31, 2023 | 29.96 Bn |
| Sep 30, 2023 | 29.20 Bn |
| Jun 30, 2023 | 27.77 Bn |
| Mar 31, 2023 | 27.72 Bn |
| Dec 31, 2022 | 27.92 Bn |
| Sep 30, 2022 | 28.09 Bn |
| Jun 30, 2022 | 28.21 Bn |
| Mar 31, 2022 | 28.31 Bn |
| Dec 31, 2021 | 27.48 Bn |
| Sep 30, 2021 | 27.72 Bn |
API Access
Norfolk Southern Invested Capital 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=invested-capital&ticker=NSC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=NSC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();