Norfolk Southern (NSC) Net Margin (2009 - 2026)
Norfolk Southern (NSC) posted quarterly Net Margin of 21.18% for Q2 2026, down 351.0% year-over-year from 8.44% in Q2 2025, and up 16.1% quarter-over-quarter from 18.25% in Q1 2026.
Norfolk Southern (NSC) Net Margin (2009 - 2026) Analysis & Trends
Norfolk Southern (NSC) has reported Net Margin for 18 consecutive years, with 21.18% the latest figure, recorded in Q2 2026.
- In Q2 2026, Net Margin fell 351.0% year-over-year to 21.18%; the TTM figure through Jun 2026 stood at 21.02% (down 649.0% YoY), while the FY2025 annual figure was 23.59%, up 196.0% from the prior year.
- Net Margin advanced to 21.18% in Q2 2026 per NSC's latest filing, from 18.25% in the prior quarter.
- Across five years, Net Margin topped out at 36.02% in Q3 2024 and bottomed at 1.76% in Q1 2024.
- Historically, Net Margin has averaged 21.25% across 5 years, with a median of 23.51% in 2025.
- Annual changes were most pronounced in 2023 — Net Margin tumbled 1325 bps — and 2025, when it soared 2329 bps.
- Norfolk Southern's Net Margin stood at 24.41% in 2022, then fell by 30 bps to 17.15% in 2023, then jumped by 41 bps to 24.24% in 2024, then declined by 11 bps to 21.65% in 2025, then retreated by 2 bps to 21.18% in 2026.
- Business Quant data shows NSC's Net Margin at 21.18% in Q2 2026, 18.25% in Q1 2026, and 21.65% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 182.22 Bn | 180.10 Bn | 6.50 Bn | 29.04% |
| 2 | Csx | 95.57 Bn | 94.18 Bn | 3.29 Bn | 25.46% |
| 3 | Canadian Pacific Kansas City | 84.88 Bn | 84.61 Bn | 2.92 Bn | 24.59% |
| 4 | Canadian National Railway | 79.02 Bn | 79.02 Bn | - | 25.17% |
| 5 | Norfolk Southern | 78.72 Bn | 77.65 Bn | - | 21.18% |
| 6 | Westinghouse Air Brake Technologies | 49.57 Bn | 48.90 Bn | 1.16 Bn | 12.46% |
| 7 | Trinity Industries | 2.35 Bn | 2.19 Bn | 109.90 Mn | 20.26% |
| 8 | Greenbrier Companies | 1.41 Bn | 1.14 Bn | 81.10 Mn | 2.15% |
| 9 | Foster L B | 377.01 Mn | 371.23 Mn | 30.87 Mn | 2.25% |
| 10 | FreightCar America | 232.46 Mn | 168.17 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Sep 30, 2021 | 26.40% |