Norfolk Southern Corporation (NSC) Financial Statements
Norfolk Southern financial statements at a glance
Norfolk Southern reported revenue of $12.18 billion for fiscal year 2025 (ended December 31, 2025), up 0.5% from fiscal year 2024. Net income was $2.87 billion, a net margin of 23.6%.
At the end of fiscal year 2025 it had total assets of $45.24 billion, total liabilities of $29.69 billion and shareholders' equity of $15.55 billion, with total debt of $17.09 billion.
Its operations brought in $4.36 billion of cash.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Norfolk Southern Corporation
Income Statement
Annual • USD
Norfolk Southern key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $12.2B | $12.1B | $12.2B | $12.7B | $11.1B |
| Gross profit | $6.0B | $6.3B | $5.7B | $6.4B | $4.7B |
| Operating income | $4.4B | $4.1B | $2.9B | $4.8B | $4.7B |
| Net income | $2.9B | $2.6B | $1.8B | $3.3B | $3.0B |
| Diluted EPS | – | – | – | – | $12.11 |
| Total assets | $45.2B | $43.7B | $41.7B | $38.9B | $38.5B |
| Total liabilities | $29.7B | $29.4B | $28.9B | $26.2B | $24.9B |
| Shareholders' equity | $15.5B | $14.3B | $12.8B | $12.7B | $13.6B |
| Cash | – | – | – | – | $839.0M |
| Total debt | $17.1B | $17.2B | $17.2B | $15.2B | $14.3B |
| Operating cash flow | $4.4B | $4.1B | $3.2B | $4.2B | $4.3B |
| Capital spending | – | – | – | – | $1.5B |
| Free cash flow | – | – | – | – | $2.8B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Norfolk Southern's revenue in fiscal year 2025?
$12.18 billion, up 0.5% from $12.12 billion in fiscal year 2024.
How much profit does Norfolk Southern make?
Norfolk Southern reported net income of $2.87 billion for fiscal year 2025 (23.6% of revenue); operating income was $4.36 billion.
How much cash and debt does Norfolk Southern have?
At the end of fiscal year 2025: total debt of $17.09 billion.
