Financials Norfolk Southern Corporation

Equities

NSC

US6558441084

Ground Freight & Logistics

Real-time Estimate Cboe BZX 10:28:25 03/05/2024 pm IST 5-day change 1st Jan Change
236 USD +0.95% Intraday chart for Norfolk Southern Corporation -1.60% -0.11%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 50,619 60,349 72,446 59,965 53,361 52,819 - -
Enterprise Value (EV) 1 62,235 71,915 85,447 74,591 68,972 69,847 69,980 69,839
P/E ratio 18.9 x 30.3 x 24.6 x 17.8 x 29.5 x 24.5 x 16.8 x 15 x
Yield 1.85% 1.58% 1.4% 2.01% - 2.34% 2.52% 2.78%
Capitalization / Revenue 4.48 x 6.17 x 6.5 x 4.7 x 4.39 x 4.25 x 4.04 x 3.87 x
EV / Revenue 5.51 x 7.35 x 7.67 x 5.85 x 5.67 x 5.62 x 5.36 x 5.12 x
EV / EBITDA 12.1 x 15.5 x 15.2 x 12.4 x 13.1 x 12.6 x 11.4 x 10.6 x
EV / FCF 33.2 x 33.6 x 30.7 x 32.8 x 83.1 x 51.6 x 28 x 24.7 x
FCF Yield 3.01% 2.98% 3.26% 3.05% 1.2% 1.94% 3.57% 4.05%
Price to Book 3.3 x 4.12 x 5.24 x 4.41 x 4.21 x 3.9 x 3.74 x 3.57 x
Nbr of stocks (in thousands) 2,60,747 2,53,985 2,43,345 2,43,345 2,25,742 2,25,914 - -
Reference price 2 194.1 237.6 297.7 246.4 236.4 233.8 233.8 233.8
Announcement Date 29/01/20 27/01/21 26/01/22 25/01/23 26/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,296 9,789 11,142 12,745 12,156 12,424 13,063 13,638
EBITDA 1 5,159 4,640 5,628 6,030 5,265 5,552 6,120 6,595
EBIT 1 4,021 3,486 4,447 4,809 3,967 4,108 4,719 5,140
Operating Margin 35.6% 35.61% 39.91% 37.73% 32.63% 33.06% 36.13% 37.69%
Earnings before Tax (EBT) 1 3,491 2,530 3,878 4,130 2,320 3,018 3,984 4,341
Net income 1 2,722 2,013 3,005 3,270 1,827 2,313 3,082 3,434
Net margin 24.1% 20.56% 26.97% 25.66% 15.03% 18.62% 23.59% 25.18%
EPS 2 10.25 7.840 12.11 13.88 8.020 9.558 13.94 15.60
Free Cash Flow 1 1,873 2,143 2,785 2,274 830 1,353 2,496 2,829
FCF margin 16.58% 21.89% 25% 17.84% 6.83% 10.89% 19.11% 20.75%
FCF Conversion (EBITDA) 36.31% 46.19% 49.48% 37.71% 15.76% 24.37% 40.78% 42.9%
FCF Conversion (Net income) 68.81% 106.46% 92.68% 69.54% 45.43% 58.5% 80.98% 82.38%
Dividend per Share 2 3.600 3.760 4.160 4.960 - 5.462 5.883 6.503
Announcement Date 29/01/20 27/01/21 26/01/22 25/01/23 26/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 2,852 2,900 3,250 3,343 3,237 3,132 2,980 2,971 3,073 3,004 3,070 3,148 3,193 3,149 3,229
EBITDA 1 1,427 1,387 1,575 1,578 1,490 1,419 1,313 1,245 1,288 1,241 1,388 1,451 1,469 1,416 1,537
EBIT 1 1,129 1,100 1,271 1,272 1,181 1,098 992 919 958 904 1,038 1,101 1,122 1,057 1,175
Operating Margin 39.59% 37.93% 39.11% 38.05% 36.48% 35.06% 33.29% 30.93% 31.17% 30.09% 33.81% 34.96% 35.13% 33.57% 36.39%
Earnings before Tax (EBT) 1 985 912 1,087 1,093 1,038 592 463 614 651 - 868 936.3 945.8 876.6 991.2
Net income 1 760 703 819 958 790 466 356 478 527 53 663.3 716.4 726 679.7 771.3
Net margin 26.65% 24.24% 25.2% 28.66% 24.41% 14.88% 11.95% 16.09% 17.15% 1.76% 21.61% 22.76% 22.74% 21.58% 23.88%
EPS 2 3.120 2.930 3.450 4.100 3.420 2.040 1.560 2.100 2.320 0.2300 2.930 3.194 3.280 3.004 3.460
Dividend per Share 2 1.090 1.240 1.240 1.240 1.240 1.350 1.350 - - 1.350 1.353 1.385 1.385 1.645 1.645
Announcement Date 26/01/22 27/04/22 27/07/22 26/10/22 25/01/23 26/04/23 27/07/23 25/10/23 26/01/24 24/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,616 11,566 13,001 14,626 15,611 17,028 17,161 17,020
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.252 x 2.493 x 2.31 x 2.426 x 2.965 x 3.067 x 2.804 x 2.581 x
Free Cash Flow 1 1,873 2,143 2,785 2,274 830 1,353 2,496 2,829
ROE (net income / shareholders' equity) 17.8% 15.8% 21.1% 24.8% 20.9% 18.8% 22.9% 25.7%
ROA (Net income/ Total Assets) 7.34% 6.26% 7.86% 8.45% 6.63% 5.69% 7.07% 7.6%
Assets 1 37,079 32,159 38,228 38,689 27,558 40,641 43,582 45,189
Book Value Per Share 2 58.90 57.60 56.80 55.80 56.20 60.00 62.50 65.50
Cash Flow per Share 2 14.70 14.20 17.20 17.90 14.00 16.90 20.30 22.70
Capex 1 2,019 1,494 1,470 1,948 2,349 3,610 2,171 2,203
Capex / Sales 17.87% 15.26% 13.19% 15.28% 19.32% 29.05% 16.62% 16.16%
Announcement Date 29/01/20 27/01/21 26/01/22 25/01/23 26/01/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
26
Last Close Price
233.8 USD
Average target price
272.6 USD
Spread / Average Target
+16.58%
Consensus
  1. Stock Market
  2. Equities
  3. NSC Stock
  4. Financials Norfolk Southern Corporation