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Earnings transcript
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NSC
Norfolk Southern Corporation
$288
1
(0.35%)
| Exchange: | NYSE |
| Market Cap: | 64.677B |
| Shares Outstanding: | 568.409M |
About The Company
| Sector: | Industrials | |||||
| Industry: | Railroads | |||||
| CEO: | Mark R. George | |||||
| Full Time Employees: | 19600 | |||||
| Address: |
| |||||
| Website: | https://www.norfolksouthern.com |
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal. It also transports overseas freight through various Atlantic and Gulf Coast ports; and provides commuter rail passenger transportation services and operates an intermodal network. As of December 31, 2021, the company operated approximately 19,300 route miles in 22 states and the District of Columbia. Norfolk Southern Corporation was incorporated in 1980 and is based in Atlanta, Georgia.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 12,156,000 | 12,123,000 | 12,180,000 |
| Gross Profit | 2,808,000 | 3,764,000 | 5,168,000 |
| EBITDA | 4,340,000 | 5,489,000 | 5,850,000 |
| Operating Income | 2,808,000 | 3,764,000 | 4,008,000 |
| Net Income | 1,827,000 | 2,622,000 | 2,873,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 41,652,000 | 43,682,000 | 45,236,000 |
| Total Liabilities | 28,871,000 | 29,376,000 | 29,689,000 |
| Total Stockholders Equity | 12,781,000 | 14,306,000 | 15,547,000 |
| Total Debt | 17,571,000 | 17,478,000 | 17,087,000 |
| Cash and Cash Equivalents | 1,568,000 | 1,641,000 | 1,530,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 3,179,000 | 4,052,000 | 4,361,000 |
| Capital Expenditure | -2,349,000 | -2,381,000 | 0 |
| Free Cash Flow | 830,000 | 1,671,000 | 4,361,000 |
| Net Income | 1,827,000 | 2,622,000 | 2,873,000 |
| Net Change in Cash | 1,112,000 | 73,000 | -111,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 15,111,862.998 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 15,886,831.768 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 15,410,500 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 6,879,735.804 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 7,232,543.422 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 7,015,691.488 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 3,901,729.977 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 4,163,397.178 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 4,002,564.017 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 70,295.742 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 73,900.658 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 71,684.909 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 17.810 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 18.520 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 17.360 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 3 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance: Norfolk Southern Corporation reported an 8% growth in revenue for Q1 2025 as per the earnings call transcript, reflecting strong operational results and effective cost management. This growth aligns with positive net income and operating cash flow trends from the income and cash flow statements.
- Operational Efficiency: The Q1 2025 earnings call highlighted a focus on enhancing operational efficiency, which has contributed to improved service quality and cost savings. This is supported by a healthy return on invested capital (ROIC TTM) from key metrics, indicating effective use of capital.
- Strong Market Position: As part of the transportation sector and railroad industry, NSC benefits from a stable market presence with a significant market capitalization and consistent dividend yield (dividendYieldTTM), appealing to income-focused investors.
- Positive Free Cash Flow: Data from the cash flow statements shows robust free cash flow (freeCashFlowYieldTTM), providing financial flexibility for reinvestment, debt management, or shareholder returns.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates NSC intrinsic value between $108.55 – $228.59 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about NSC valuation
Is Norfolk Southern Corporation (NSC) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Norfolk Southern Corporation (NSC) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is NSC a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NSC trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is NSC’s P/E ratio?
You can see NSC’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for NSC?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is NSC a good long-term investment?
Whether NSC fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
NSC
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Daily snapshot
0.35
Trading Metrics:
| Open: | 285.6 | Previous Close: | 287 | |
| Day Low: | 285 | Day High: | 289.97 | |
| Year Low: | 201.63 | Year High: | 319.94 | |
| Price Avg 50: | 299.29 | Price Avg 200: | 286.44 | |
| Volume: | 1.165M | Average Volume: | 1.364M |
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Login — it's freeNSC full analysis
Welcome to MARKETSNAP’s SWOT analysis for Norfolk Southern Corporation, or NSC as it’s known on the ticker. Today, we’re diving deep into this major player in the transportation and logistics space to break down what’s working, what’s not, and where the opportunities and risks lie for long-term investors like you. Whether you’ve been holding this stock for years or you’re eyeing it for your portfolio, stick with me as we unpack the full picture with a conversational yet hard-hitting analysis.…
