Norfolk Southern (NSC) Net Margin (2009 - 2026)
Norfolk Southern (NSC) recorded Net Margin of 21.53% in Q3 2026, down 1.39 percentage points from 22.91% a year earlier but up 0.34 percentage points from the prior quarter.
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Analysis
Norfolk Southern (NSC) Net Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Norfolk Southern's Net Margin came in at 20.71% as of Sep 30, 2026, down 3.51 percentage points year-over-year; for FY2025, it was 23.59%, up 1.96 percentage points from FY2024.
- Annual Net Margin has a five-year change of +3.02 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at 21.63% in FY2024 (+6.60 pp), 15.03% in FY2023 (-10.63 pp), 25.66% in FY2022 (-1.31 pp) and 26.97% in FY2021 (+6.41 pp).
- Quarterly Net Margin has ranged from 1.76% in Q1 2024 to 36.02% in Q3 2024 over the past five years.
- On a year-over-year basis, Net Margin has declined for five consecutive quarters, with an average year-over-year change of +0.43 percentage points over the last eight quarters.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 23.29 percentage points in Q1 2025, against a drop of 13.25 percentage points in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 21.18% (Q2 2026), 18.25% (Q1 2026) and 21.65% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 176.01 Bn | 168.25 Bn | - | 28.85% |
| 2 | Csx | 93.62 Bn | 88.85 Bn | - | 26.19% |
| 3 | United Parcel Service | 92.85 Bn | 69.67 Bn | - | 5.09% |
| 4 | Canadian Pacific Kansas City | 82.31 Bn | 81.35 Bn | - | 21.74% |
| 5 | Fedex | 74.59 Bn | 40.78 Bn | - | 6.39% |
| 6 | Norfolk Southern | 72.94 Bn | 67.40 Bn | - | 21.53% |
| 7 | Delta Air Lines | 59.87 Bn | 42.05 Bn | - | 3.75% |
| 8 | United Airlines Holdings | 39.08 Bn | -18.61 Bn | - | 5.76% |
| 9 | Old Dominion Freight Line | 34.91 Bn | 33.76 Bn | - | 21.61% |
| 10 | Ryanair Holdings | 32.51 Bn | -871.89 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 21.53% |
| Jun 30, 2026 | 21.18% |
| Mar 31, 2026 | 18.25% |
| Dec 31, 2025 | 21.65% |
| Sep 30, 2025 | 22.91% |
| Jun 30, 2025 | 24.69% |
| Mar 31, 2025 | 25.06% |
| Dec 31, 2024 | 24.24% |
| Sep 30, 2024 | 36.02% |
| Jun 30, 2024 | 24.21% |
| Mar 31, 2024 | 1.76% |
| Dec 31, 2023 | 17.15% |
| Sep 30, 2023 | 16.09% |
| Jun 30, 2023 | 11.95% |
| Mar 31, 2023 | 14.88% |
| Dec 31, 2022 | 24.41% |
| Sep 30, 2022 | 28.66% |
| Jun 30, 2022 | 25.20% |
| Mar 31, 2022 | 24.12% |
| Dec 31, 2021 | 26.65% |
API Access
Norfolk Southern Net 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=net-margin&ticker=NSC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=NSC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();