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Norfolk Southern (NSC) Tax Rate (2009 - 2026)

Norfolk Southern (NSC) reported Tax Rate of 23.5% for Q1 2026, up 18.0% year-over-year from 19.91% in Q1 2025, and up 48.55% on a QoQ basis from 15.82% in Q4 2025.

Norfolk Southern (NSC) has 18 years of Tax Rate data on file, last reported at 23.5% in Q1 2026.

  • Quarterly Tax Rate rose 18.0% year-over-year to 23.5% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 21.52% (down 88.0% YoY) and the FY2025 annual result came in at 21.61%, up 37.0% from the prior year.
  • Tax Rate advanced to 23.5% in Q1 2026 per NSC's latest filing, from 15.82% in the prior quarter.
  • Across five years, Tax Rate topped out at 24.66% in Q2 2022 and bottomed at 76.67% in Q1 2024.
  • The 5-year median for Tax Rate is 22.92% (2022), against an average of 15.73%.
  • The widest annual swing landed in 2024, when Tax Rate sank 9795 bps; it then surged 9998 bps in 2025.
  • Tracing NSC's Tax Rate over 5 years: stood at 23.89% in 2022, then retreated by 20 bps to 19.05% in 2023, then rose by 10 bps to 21.01% in 2024, then slipped by 25 bps to 15.82% in 2025, then soared by 49 bps to 23.5% in 2026.
  • Per Business Quant, the three latest NSC Tax Rate figures stand at 23.5% (Q1 2026), 15.82% (Q4 2025), and 23.05% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Tax Rate (Qtr)
1 Union Pacific 155.75 Bn 154.71 Bn 5.85 Bn 23.69
2 Csx 84.18 Bn 83.08 Bn 3.18 Bn 24.08
3 Norfolk Southern 68.46 Bn 67.12 Bn 2.74 Bn 23.50
4 Canadian Pacific Kansas City 58.41 Bn 58.81 Bn 2.36 Bn 24.55
5 Westinghouse Air Brake Technologies 44.40 Bn 43.91 Bn 1.06 Bn 22.60
6 Trinity Industries 2.59 Bn 2.65 Bn 128.90 Mn 24.22
7 Greenbrier Companies 1.46 Bn 968.55 Mn 69.50 Mn 14.91
8 Foster L B 419.50 Mn 416.39 Mn 25.70 Mn -5.74
9 FreightCar America 145.10 Mn 80.80 Mn - -
10 Swvl Holdings 18.35 Mn 13.93 Mn - -

Historic Data

Download Data 🔒
DateValue
Mar 31, 2026 23.50
Mar 31, 2026 23.50
Dec 31, 2025 15.82
Dec 31, 2025 15.82
Sep 30, 2025 23.05
Sep 30, 2025 23.05
Jun 30, 2025 23.05
Jun 30, 2025 23.05
Mar 31, 2025 23.31
Mar 31, 2025 23.31
Dec 31, 2024 21.01
Dec 31, 2024 21.01
Sep 30, 2024 22.99
Sep 30, 2024 22.99
Jun 30, 2024 21.93
Jun 30, 2024 21.93
Mar 31, 2024 -76.67
Mar 31, 2024 -76.67
Dec 31, 2023 19.05
Dec 31, 2023 19.05
Sep 30, 2023 22.15
Sep 30, 2023 22.15
Jun 30, 2023 23.11
Jun 30, 2023 23.11
Mar 31, 2023 21.28
Mar 31, 2023 21.28
Dec 31, 2022 23.89
Dec 31, 2022 23.89
Sep 30, 2022 12.35
Sep 30, 2022 12.35
Jun 30, 2022 24.66
Jun 30, 2022 24.66
Mar 31, 2022 22.92
Mar 31, 2022 22.92
Dec 31, 2021 22.84
Dec 31, 2021 22.84
Sep 30, 2021 23.63
Sep 30, 2021 23.63
Jun 30, 2021 21.33
Jun 30, 2021 21.33
Mar 31, 2021 22.29
Mar 31, 2021 22.29
Dec 31, 2020 22.61
Dec 31, 2020 22.61
Sep 30, 2020 21.41
Sep 30, 2020 21.41
Jun 30, 2020 22.07
Jun 30, 2020 22.07
Mar 31, 2020 12.61
Mar 31, 2020 12.61
Dec 31, 2019 19.57
Dec 31, 2019 19.57
Sep 30, 2019 24.31
Sep 30, 2019 24.31
Jun 30, 2019 22.70
Jun 30, 2019 22.70
Mar 31, 2019 21.37
Mar 31, 2019 21.37
Dec 31, 2018 24.52
Dec 31, 2018 24.52
Sep 30, 2018 22.69
Sep 30, 2018 22.69
Jun 30, 2018 23.16
Jun 30, 2018 23.16
Mar 31, 2018 21.92
Mar 31, 2018 21.92
Dec 31, 2017 -344.34
Dec 31, 2017 -344.34
Sep 30, 2017 36.75
Sep 30, 2017 36.75
Jun 30, 2017 36.28
Jun 30, 2017 36.28
Mar 31, 2017 33.89
Mar 31, 2017 33.89
Dec 31, 2016 35.10
Dec 31, 2016 35.10
Sep 30, 2016 34.75
Sep 30, 2016 34.75
Jun 30, 2016 36.32
Jun 30, 2016 36.32
Mar 31, 2016 35.50
Mar 31, 2016 35.50
Dec 31, 2015 31.11
Dec 31, 2015 31.11
Sep 30, 2015 37.57
Sep 30, 2015 37.57
Jun 30, 2015 38.05
Jun 30, 2015 38.05
Mar 31, 2015 37.37
Mar 31, 2015 37.37
Dec 31, 2014 35.32
Dec 31, 2014 35.32
Sep 30, 2014 37.33
Sep 30, 2014 37.33
Jun 30, 2014 37.42
Jun 30, 2014 37.42
Mar 31, 2014 33.57
Mar 31, 2014 33.57
Dec 31, 2013 34.48
Dec 31, 2013 34.48
Sep 30, 2013 35.56
Sep 30, 2013 35.56
Jun 30, 2013 36.91
Jun 30, 2013 36.91
Mar 31, 2013 35.44
Mar 31, 2013 35.44
Dec 31, 2012 33.49
Dec 31, 2012 33.49
Sep 30, 2012 37.19
Sep 30, 2012 37.19
Jun 30, 2012 37.84
Jun 30, 2012 37.84
Mar 31, 2012 37.31
Mar 31, 2012 37.31
Dec 31, 2011 -39.28
Dec 31, 2011 -39.28
Sep 30, 2011 37.33
Sep 30, 2011 37.33
Jun 30, 2011 30.03
Jun 30, 2011 30.03
Mar 31, 2011 36.89
Mar 31, 2011 36.89
Dec 31, 2010 -27.05
Dec 31, 2010 -27.05
Sep 30, 2010 37.68
Sep 30, 2010 37.68
Jun 30, 2010 38.27
Jun 30, 2010 38.27
Mar 31, 2010 43.64
Mar 31, 2010 43.64
Dec 31, 2009 34.26
Dec 31, 2009 34.26
Sep 30, 2009 37.01
Sep 30, 2009 37.01
Jun 30, 2009 36.83
Jun 30, 2009 36.83
Mar 31, 2009 37.46
Mar 31, 2009 37.46