Norfolk Southern (NSC) Net Margin (2009 - 2026)
Norfolk Southern (NSC) reported Net Margin of 18.25% for Q1 2026, down 681.0% year-over-year from 3.14% in Q1 2025, and down 15.74% on a QoQ basis from 21.65% in Q4 2025.
Norfolk Southern (NSC) has 18 years of Net Margin data on file, last reported at 18.25% in Q1 2026.
- Quarterly Net Margin fell 681.0% year-over-year to 18.25% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 21.91% (down 549.0% YoY) and the FY2025 annual result came in at 23.59%, up 196.0% from the prior year.
- Net Margin eased to 18.25% in Q1 2026 per NSC's latest filing, from 21.65% 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.
- The 5-year median for Net Margin is 24.12% (2022), against an average of 21.25%.
- The widest annual swing landed in 2023, when Net Margin sank 1325 bps; it then jumped 2329 bps in 2025.
- Tracing NSC's Net Margin over 5 years: stood at 24.41% in 2022, then slipped by 30 bps to 17.15% in 2023, then jumped by 41 bps to 24.24% in 2024, then decreased by 11 bps to 21.65% in 2025, then decreased by 16 bps to 18.25% in 2026.
- Per Business Quant, the three latest NSC Net Margin figures stand at 18.25% (Q1 2026), 21.65% (Q4 2025), and 22.91% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 155.75 Bn | 154.71 Bn | 5.85 Bn | 27.36% |
| 2 | Csx | 84.18 Bn | 83.08 Bn | 3.18 Bn | 23.18% |
| 3 | Norfolk Southern | 68.46 Bn | 67.12 Bn | 2.74 Bn | 18.25% |
| 4 | Canadian Pacific Kansas City | 58.41 Bn | 58.81 Bn | 2.36 Bn | 22.83% |
| 5 | Westinghouse Air Brake Technologies | 44.40 Bn | 43.91 Bn | 1.06 Bn | 12.31% |
| 6 | Trinity Industries | 2.59 Bn | 2.65 Bn | 128.90 Mn | -0.37% |
| 7 | Greenbrier Companies | 1.46 Bn | 968.55 Mn | 69.50 Mn | 1.65% |
| 8 | Foster L B | 419.50 Mn | 416.39 Mn | 25.70 Mn | 1.23% |
| 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 | 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% |
| Jun 30, 2021 | 29.26% |
| Mar 31, 2021 | 25.50% |
| Dec 31, 2020 | 26.08% |
| Sep 30, 2020 | 22.71% |
| Jun 30, 2020 | 18.80% |
| Mar 31, 2020 | 14.51% |
| Dec 31, 2019 | 24.76% |
| Sep 30, 2019 | 23.13% |
| Jun 30, 2019 | 24.68% |
| Mar 31, 2019 | 23.84% |
| Dec 31, 2018 | 24.24% |
| Sep 30, 2018 | 23.82% |
| Jun 30, 2018 | 24.50% |
| Mar 31, 2018 | 20.32% |
| Dec 31, 2017 | 148.67% |
| Sep 30, 2017 | 18.95% |
| Jun 30, 2017 | 18.85% |
| Mar 31, 2017 | 16.82% |
| Dec 31, 2016 | 16.71% |
| Sep 30, 2016 | 18.23% |
| Jun 30, 2016 | 16.50% |
| Mar 31, 2016 | 15.99% |
| Dec 31, 2015 | 14.34% |
| Sep 30, 2015 | 16.66% |
| Jun 30, 2015 | 15.96% |
| Mar 31, 2015 | 12.08% |
| Dec 31, 2014 | 17.80% |
| Sep 30, 2014 | 18.49% |
| Jun 30, 2014 | 18.47% |
| Mar 31, 2014 | 13.69% |
| Dec 31, 2013 | 17.81% |
| Sep 30, 2013 | 17.07% |
| Jun 30, 2013 | 16.60% |
| Mar 31, 2013 | 16.44% |
| Dec 31, 2012 | 15.39% |
| Sep 30, 2012 | 14.93% |
| Jun 30, 2012 | 18.23% |
| Mar 31, 2012 | 14.70% |
| Dec 31, 2011 | 36.00% |
| Sep 30, 2011 | 19.18% |
| Jun 30, 2011 | 19.43% |
| Mar 31, 2011 | 12.40% |
| Dec 31, 2010 | 29.85% |
| Sep 30, 2010 | 18.12% |
| Jun 30, 2010 | 16.13% |
| Mar 31, 2010 | 11.48% |
| Dec 31, 2009 | 14.58% |
| Sep 30, 2009 | 14.69% |
| Jun 30, 2009 | 13.30% |
| Mar 31, 2009 | 9.11% |