NORFOLK SOUTHERN CORP

10-K & 10-Q Filings

Norfolk Southern Corporation is an Atlanta, Georgia-based company that owns and operates a major freight railroad, Norfolk Southern Railway Company (NSR). The company was incorporated in 1980 and its common stock is listed on the New York Stock Exchange under the symbol "NSC." Norfolk Southern is primarily engaged in the rail transportation of raw materials, intermediate products, and finished goods in the Southeast, East, and Midwest, as well as overseas freight through various ports. The company operates approximately 19,100 route miles in 22 states and the District of Columbia. Norfolk Southern's business strategy includes maintaining a safe, efficient, and reliable rail transportation system, attracting and retaining top talent, and investing in infrastructure and technology. The company operates in three main commodity groups: merchandise, intermodal, and coal. Merchandise includes a variety of commodities such as agriculture, forest and consumer products, chemicals, metals and construction, and automotive. Intermodal consists of shipments moving in domestic and international containers and trailers. Coal revenues accounted for 14% of the company's total railway operating revenues in 2023. The company's website is www.norfolksouthern.com and its ticker symbol is "NSC."

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$11172.00
11040.00
11245.00
11624.00
10511.00
9888.00
10551.00
11458.00
11296.00
9789.00
11142.00
12745.00
12156.00
3132.00
3004.00
0.71%-4.09%Cost of Revenue (-)
$
1087.00
953.00
535.00
799.00
1459.00
1170.00
315.00
284.00
-9.84%Gross Profit (+)
$8721.00
8547.00
8716.00
9099.00
8523.00
8164.00
8656.00
10371.00
10343.00
9254.00
10343.00
11286.00
10986.00
2817.00
2720.00
1.94%-3.44%Selling, General & Administrative (-)
$2974.00
2960.00
3002.00
2897.00
2911.00
2743.00
2915.00
2925.00
2751.00
2373.00
2442.00
2621.00
2819.00
690.00
736.00
-0.45%6.67%Depreciation & Amortization (-)
$
1102.00
1138.00
1154.00
1181.00
1221.00
1298.00
321.00
337.00
4.98%Operating Expenses (-)
$7959.00
7916.00
7988.00
8049.00
7627.00
6814.00
6965.00
7499.00
6354.00
6252.00
5896.00
6477.00
8135.00
2106.00
2507.00
0.18%19.04%Costs & Expenses (Total) (-)
$7959.00
7916.00
7988.00
8049.00
7627.00
6814.00
6965.00
8586.00
7307.00
6787.00
6695.00
7936.00
9305.00
2421.00
2791.00
1.31%15.28%Operating Income/Loss (+)
$3213.00
3124.00
3257.00
3575.00
2884.00
3074.00
3586.00
3959.00
3989.00
3002.00
4447.00
4809.00
2851.00
711.00
213.00
-0.99%-70.04%Non-operating Income/Expense (+)
$160.00
129.00
233.00
104.00
103.00
71.00
92.00
67.00
106.00
-232.00
77.00
13.00
191.00
56.00
18.00
1.49%-67.86%Interest Expense (-)
$455.00
495.00
525.00
545.00
545.00
563.00
550.00
557.00
604.00
625.00
646.00
692.00
722.00
175.00
201.00
3.92%14.86%Earnings before Tax (+)
$2918.00
2758.00
2965.00
3134.00
2442.00
2582.00
3128.00
3469.00
3491.00
2530.00
3878.00
4130.00
2320.00
592.00
30.00
-1.89%-94.93%Tax Expense (-)
$1002.00
1009.00
1055.00
1134.00
886.00
914.00
-2276.00
803.00
769.00
517.00
873.00
860.00
493.00
126.00
-23.00
-5.74%-118.25%Income/Loss (Continuing Operations) (+)
$1916.00
1749.00
1910.00
2000.00
1556.00
1668.00
5404.00
2666.00
2722.00
2013.00
3005.00
3270.00
1827.00
466.00
53.00
-0.40%-88.63%Profit/Loss (+)
$1916.00
1749.00
1910.00
2000.00
1556.00
1668.00
5404.00
2666.00
Net Income/Loss (+)
$1916.00
1749.00
1910.00
2000.00
1556.00
1668.00
5404.00
2666.00
2722.00
2013.00
3005.00
3270.00
1827.00
466.00
53.00
-0.40%-88.63%Net Income/Loss (Common) (+)
$1916.00
1749.00
1910.00
2000.00
1556.00
1668.00
5404.00
2666.00
2722.00
2013.00
3005.00
3270.00
1827.00
466.00
53.00
-0.40%-88.63%EPS (Basic)
$
10.32
7.88
12.16
13.92
8.04
2.04
0.23
-88.73%EPS (Diluted)
$5.45
5.37
6.04
6.39
5.10
5.62
18.61
9.51
10.25
7.84
12.11
13.88
8.02
2.04
0.23
3.27%-88.73%Weighted Avg Shares (Basic)
257.84
251.91
239.78
227.78
225.88
227.64
225.91
-0.76%Cash
$276.00
653.00
1443.00
973.00
1101.00
956.00
690.00
358.00
580.00
1115.00
839.00
456.00
1568.00
552.00
652.00
15.58%18.12%Short-term Investments
$25.00
15.00
118.00
Receivables
$1022.00
1109.00
1024.00
1055.00
946.00
945.00
955.00
1009.00
920.00
848.00
976.00
1148.00
1147.00
1170.00
1198.00
0.97%2.39%Other Assets (Current)
$428.00
465.00
490.00
750.00
586.00
390.00
504.00
495.00
581.00
355.00
352.00
403.00
556.00
400.00
506.00
2.20%26.50%Assets (Current)
$1751.00
2242.00
3075.00
2778.00
2633.00
2291.00
2149.00
1862.00
2081.00
2318.00
2167.00
2007.00
3271.00
2122.00
2356.00
5.35%11.03%Securities & Long-term Investments
$2234.00
2300.00
2439.00
2679.00
2572.00
2777.00
2981.00
3109.00
3428.00
3590.00
3707.00
3694.00
3839.00
3738.00
3570.00
4.62%-4.49%Property, Plant & Equipment (Net)
$24469.00
25736.00
26645.00
27694.00
28992.00
29751.00
30330.00
31091.00
31614.00
31345.00
31653.00
32156.00
33326.00
32240.00
35051.00
2.61%8.72%Other Assets
$84.00
64.00
324.00
90.00
63.00
73.00
251.00
177.00
800.00
709.00
966.00
1028.00
1216.00
1069.00
1151.00
24.95%7.67%Assets (Non-current)
$26787.00
28100.00
29408.00
30463.00
31627.00
32601.00
33562.00
34377.00
35842.00
35644.00
36326.00
36878.00
38381.00
37047.00
39772.00
3.04%7.36%Assets (Total)
$28538.00
30342.00
32483.00
33241.00
34260.00
34892.00
35711.00
36239.00
37923.00
37962.00
38493.00
38885.00
41652.00
39169.00
42128.00
3.20%7.55%Accounts Payable
$1299.00
1568.00
1490.00
1450.00
1294.00
1460.00
1612.00
1760.00
1657.00
1279.00
1656.00
1605.00
1900.00
1753.00
1728.00
3.22%-1.43%Debt (Current)
$150.00
250.00
545.00
102.00
700.00
650.00
700.00
585.00
316.00
579.00
553.00
703.00
4.00
403.00
404.00
-26.07%0.25%Other Liabilities (Current)
$252.00
263.00
270.00
228.00
237.00
229.00
233.00
246.00
327.00
302.00
312.00
341.00
728.00
668.00
1315.00
9.24%96.86%Liabilities (Current)
$1701.00
2081.00
2305.00
1780.00
2231.00
2339.00
2545.00
2591.00
2300.00
2160.00
2521.00
2649.00
2632.00
2824.00
3447.00
3.70%22.06%Debt (Non-current)
$7390.00
8432.00
8903.00
8924.00
9393.00
9562.00
9136.00
10560.00
11880.00
12102.00
13287.00
14479.00
17175.00
14585.00
17179.00
7.28%17.79%Other Liabilities
$9536.00
10069.00
9986.00
10129.00
10448.00
10582.00
7671.00
7726.00
8559.00
8909.00
9044.00
9024.00
9064.00
9033.00
8966.00
-0.42%-0.74%Liabilities (Non-current)
$16926.00
18501.00
18889.00
19053.00
19841.00
20144.00
16807.00
18286.00
20439.00
21011.00
22331.00
23503.00
26239.00
23618.00
26145.00
3.72%10.70%Liabilities (Total)
$18627.00
20582.00
21194.00
20833.00
22072.00
22483.00
19352.00
20877.00
22739.00
23171.00
24852.00
26152.00
28871.00
26442.00
29592.00
3.72%11.91%Retained Earnings
$8693.00
8643.00
9339.00
10348.00
10191.00
10425.00
14176.00
13440.00
13207.00
12883.00
11586.00
10697.00
10695.00
10698.00
10443.00
1.74%-2.38%AOCI
$-1026.00
-1109.00
-381.00
-398.00
-445.00
-487.00
-356.00
-563.00
-491.00
-594.00
-402.00
-351.00
-320.00
-355.00
-322.00
9.30%Shareholder's Equity
$9911.00
9760.00
11289.00
12408.00
12188.00
12409.00
16359.00
15362.00
15184.00
14791.00
13641.00
12733.00
12781.00
12727.00
12536.00
2.14%-1.50%Liabilities & Equity
$28538.00
30342.00
32483.00
33241.00
34260.00
34892.00
35711.00
36239.00
37923.00
37962.00
38493.00
38885.00
41652.00
39169.00
42128.00
3.20%7.55%Net Income/Loss
$1916.00
1749.00
1910.00
2000.00
1556.00
1668.00
5404.00
2666.00
2722.00
2013.00
3005.00
3270.00
1827.00
466.00
53.00
-0.40%-88.63%Depreciation & Amortization
$869.00
922.00
922.00
956.00
1059.00
1030.00
1059.00
1104.00
1139.00
1154.00
1181.00
1221.00
1298.00
321.00
337.00
3.40%4.98%Increase/Decrease in Working Capital
$173.00
-5.00
-78.00
251.00
-83.00
-305.00
-58.00
-122.00
139.00
-131.00
-147.00
201.00
-368.00
-461.00
-536.00
-16.27%Adjustments to Reconcile Net Income
$1311.00
1316.00
1168.00
852.00
1321.00
1366.00
-2151.00
1060.00
1170.00
1624.00
1250.00
952.00
1352.00
707.00
786.00
0.26%11.17%Net Cash (Operating)
$3227.00
3065.00
3078.00
2852.00
2877.00
3034.00
3253.00
3726.00
3892.00
3637.00
4255.00
4222.00
3179.00
1173.00
839.00
-0.12%-28.47%Capital Expenditure
$2076.00
2049.00
1827.00
2004.00
2322.00
1757.00
1521.00
1747.00
1642.00
1161.00
1311.00
1685.00
2263.00
408.00
2167.00
0.72%431.13%Net Cash (Investing)
$-1772.00
-1994.00
-1894.00
-2002.00
-2087.00
-1832.00
-1481.00
-1658.00
-1764.00
-1175.00
-1222.00
-1603.00
-2182.00
-391.00
-1844.00
-371.61%Increase/Decrease in Debt
$-600.00
-362.00
-250.00
-645.00
-102.00
-600.00
-702.00
-750.00
-1188.00
-381.00
-584.00
-553.00
-1334.00
-800.00
Increase/Decrease in Equity
$-2051.00
-1288.00
-627.00
-318.00
-1075.00
-803.00
-1012.00
-2781.00
-2099.00
-1439.00
-3390.00
-3110.00
-622.00
-163.00
Interest Expenses
$435.00
473.00
492.00
522.00
518.00
543.00
528.00
496.00
555.00
577.00
579.00
619.00
653.00
129.00
182.00
3.44%41.09%Dividends Paid
$576.00
624.00
637.00
687.00
713.00
695.00
703.00
844.00
949.00
960.00
1028.00
1167.00
1225.00
307.00
305.00
6.49%-0.65%Net Cash (Financing)
$-2006.00
-694.00
-394.00
-1320.00
-662.00
-1347.00
-2038.00
-2312.00
-1994.00
-1927.00
-3309.00
-3002.00
115.00
-686.00
89.00
112.97%Cash Taxes Paid
$289.00
618.00
735.00
1102.00
386.00
593.00
705.00
519.00
543.00
311.00
654.00
750.00
681.00
-1.00
-2.00
7.40%-100.00%Increase/Decrease in Cash
$-551.00
377.00
790.00
-470.00
128.00
-145.00
-266.00
-244.00
134.00
535.00
-276.00
-383.00
1112.00
96.00
-916.00
-1054.17%Cash (Beginning)
$827.00
276.00
653.00
1443.00
973.00
1101.00
956.00
690.00
446.00
580.00
1115.00
839.00
456.00
456.00
1568.00
-4.84%243.86%Cash (Ending)
$276.00
653.00
1443.00
973.00
1101.00
956.00
690.00
446.00
580.00
1115.00
839.00
456.00
1568.00
552.00
652.00
15.58%18.12%NOPAT
$2894.78
2423.99
2449.62
2317.93
2428.13
2368.00
6195.25
3366.69
3368.54
2632.98
3697.04
3935.69
2014.13
559.67
227.20
-2.98%-59.40%Gross Margin %
78.06%
77.42%
77.51%
78.28%
81.09%
82.56%
82.04%
90.51%
91.56%
94.53%
92.83%
88.55%
90.38%
89.94%
90.55%
Operating Margin %
28.76%
28.30%
28.96%
30.76%
27.44%
31.09%
33.99%
34.55%
35.31%
30.67%
39.91%
37.73%
23.45%
22.70%
7.09%
NOPAT Margin %
25.91%
21.96%
21.78%
19.94%
23.10%
23.95%
58.72%
29.38%
29.82%
26.90%
33.18%
30.88%
16.57%
17.87%
7.56%
Net Margin %
17.15%
15.84%
16.99%
17.21%
14.80%
16.87%
51.22%
23.27%
24.10%
20.56%
26.97%
25.66%
15.03%
14.88%
1.76%
Tax Rate %
9.90%
22.41%
24.79%
35.16%
15.81%
22.97%
-72.76%
14.96%
15.55%
12.29%
16.86%
18.16%
29.35%
21.28%
-6.67%
ROA
10.14%
7.99%
7.54%
6.97%
7.09%
6.79%
17.35%
9.29%
8.88%
6.94%
9.60%
10.12%
4.84%
1.43%
0.54%
ROE
29.21%
24.84%
21.70%
18.68%
19.92%
19.08%
37.87%
21.92%
22.18%
17.80%
27.10%
30.91%
15.76%
4.40%
1.81%
ROIC
11.89%
9.40%
9.02%
8.23%
8.21%
7.87%
20.48%
11.01%
10.76%
8.29%
11.68%
12.31%
6.03%
1.77%
0.67%
Asset Turnover
0.39
0.36
0.35
0.35
0.31
0.28
0.30
0.32
0.30
0.26
0.29
0.33
0.29
0.08
0.07
Equity Multiplier
2.88
3.11
2.88
2.68
2.81
2.81
2.18
2.36
2.50
2.57
2.82
3.05
3.26
3.08
3.36
Current Ratio
1.03
1.08
1.33
1.56
1.18
0.98
0.84
0.72
0.90
1.07
0.86
0.76
1.24
0.75
0.68
Quick Ratio
0.78
0.85
1.12
1.14
0.92
0.81
0.65
0.53
0.65
0.91
0.72
0.61
1.03
0.61
0.54
Debt/Equity Ratio
0.76
0.89
0.84
0.73
0.83
0.82
0.60
0.73
0.80
0.86
1.01
1.19
1.34
1.18
1.40
Interest Coverage Ratio
7.39
6.60
6.62
6.85
5.57
5.66
6.79
7.98
7.19
5.20
7.68
7.77
4.37
5.51
1.17
Working Capital/Sales
-0.01
0.01
0.05
0.04
0.06
0.03
-0.01
-0.05
-0.03
0.04
0.00
-0.01
0.01
-0.19
-0.30
Dividend Payout Ratio %
19.90%
25.74%
26.00%
29.64%
29.36%
29.35%
11.35%
25.07%
28.17%
36.46%
27.81%
29.65%
60.82%
54.85%
134.24%
Total Payout
$3662.00
2747.00
2006.00
2172.00
2408.00
2641.00
2945.00
4871.00
4791.00
3357.00
5581.00
5449.00
3834.00
1399.00
487.00
0.38%-65.19%Payout Ratio %
126.50%
113.33%
81.89%
93.70%
99.17%
111.53%
47.54%
144.68%
142.23%
127.50%
150.96%
138.45%
190.35%
249.97%
214.35%