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Norfolk Southern (NSC) Operating Margin (2016 - 2025)

Norfolk Southern (NSC) has disclosed Operating Margin for 17 consecutive years, with 31.51% as the latest value for Q4 2025.

  • On a quarterly basis, Operating Margin fell 589.0% to 31.51% in Q4 2025 year-over-year; TTM through Dec 2025 was 35.76%, a 218.0% increase, with the full-year FY2025 number at 35.76%, up 218.0% from a year prior.
  • Operating Margin was 31.51% for Q4 2025 at Norfolk Southern, down from 35.39% in the prior quarter.
  • In the past five years, Operating Margin ranged from a high of 52.31% in Q3 2024 to a low of 7.09% in Q1 2024.
  • A 5-year average of 34.06% and a median of 37.31% in 2022 define the central range for Operating Margin.
  • Peak YoY movement for Operating Margin: tumbled -1978bps in 2023, then soared 3120bps in 2025.
  • Norfolk Southern's Operating Margin stood at 39.59% in 2021, then decreased by -8bps to 36.48% in 2022, then decreased by -28bps to 26.29% in 2023, then soared by 42bps to 37.4% in 2024, then decreased by -16bps to 31.51% in 2025.
  • Per Business Quant, the three most recent readings for NSC's Operating Margin are 31.51% (Q4 2025), 35.39% (Q3 2025), and 37.78% (Q2 2025).