Industrials · Rail Transportation
Norfolk Southern: revenue, profit and dividends
In fiscal 2025, Norfolk Southern had revenue of $12.2B, up 1.5% a year on average since 2015, and net income of $2.87B (23.6% of revenue). It paid a dividend of $5.40 a share. It has 26% fewer shares than in 2015.
Revenue, fiscal 2025
average annual revenue growth since 2015 · +0.5% vs 2024
- Ticker
- NSC · NYSE
- Sector
- Industrials
- Sub-industry
- Rail Transportation
- Headquarters
- Atlanta, Georgia
- Founded
- 1881/1894 (1980)
- In the S&P 500 since
- March 4, 1957, the index’s first day
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- Norfolk Southern Corp · CIK 0000702165
Revenue and net income
Revenue went from $9.43B in 2007 to $12.2B in 2025.
Diluted earnings per share
Diluted EPS went from $3.68 in 2007 to $12.75 in 2025. Ten-year growth: 9.6% a year.
Dividends per share
Not raised in 2025. Ten-year growth: 8.6% a year.
Shares outstanding
26.0% fewer shares in 2025 than in 2015 (304M → 225M): buybacks outweighed new shares.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was $2.16B in 2025, 17.7% of revenue.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Dividend | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $12.2B | $2.87B | 23.6% | $12.75 | $5.40 | 225M | $4.36B | $2.2B | $2.16B |
| 2024 | $12.1B | $2.62B | 21.6% | $11.57 | $5.40 | 226M | $4.05B | $2.38B | $1.67B |
| 2023 | $12.2B | $1.83B | 15.0% | $8.02 | $5.40 | 227M | $3.18B | $2.33B | $852M |
| 2022 | $12.7B | $3.27B | 25.7% | $13.88 | $4.96 | 236M | $4.22B | $1.95B | $2.27B |
| 2021 | $11.1B | $3.0B | 27.0% | $12.11 | $4.16 | 248M | $4.25B | $1.47B | $2.79B |
| 2020 | $9.79B | $2.01B | 20.6% | $7.84 | $3.76 | 257M | $3.64B | $1.49B | $2.14B |
| 2019 | $11.3B | $2.72B | 24.1% | $10.25 | $3.60 | 266M | $3.89B | $2.02B | $1.87B |
| 2018 | $11.5B | $2.67B | 23.3% | $9.51 | $3.04 | 280M | $3.73B | $1.95B | $1.77B |
| 2017 | $10.6B | $5.4B | 51.2% | $18.61 | $2.44 | 290M | $3.25B | $1.72B | $1.53B |
| 2016 | $9.89B | $1.66B | 16.8% | $5.62 | $2.36 | 296M | $3.03B | $1.89B | $1.15B |
| 2015 | $10.5B | $1.55B | 14.7% | $5.10 | $2.36 | 304M | $2.91B | $2.38B | $523M |
| 2014 | $11.6B | $1.99B | 17.2% | $6.39 | $2.22 | 312M | $2.85B | $2.12B | $734M |
| 2013 | $11.2B | $1.91B | 17.0% | $6.04 | $2.04 | — | $3.08B | $1.97B | $1.11B |
| 2012 | $11B | $1.75B | 15.8% | $5.37 | $1.94 | — | $3.06B | $2.24B | $824M |
| 2011 | $11.2B | $1.92B | 17.2% | $5.45 | $1.66 | — | $3.23B | $2.16B | $1.07B |
| 2010 | $9.52B | $1.49B | 15.6% | $4.00 | $1.40 | 372M | $2.71B | $1.47B | $1.24B |
| 2009 | $7.97B | $1.03B | 12.9% | $2.76 | $1.36 | 372M | $1.86B | $1.3B | $561M |
| 2008 | $10.7B | $1.71B | 16.0% | $4.52 | $1.22 | 380M | $2.71B | $1.56B | $1.16B |
| 2007 | $9.43B | $1.46B | 15.5% | $3.68 | $0.96 | — | $2.33B | $1.34B | $992M |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.
About these figures
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Rail Transportation companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.