Zacks Investment Research·1 day ago
CNI Strengthens Energy Logistics With Record Propane ShipmentsCanadian National sets a monthly propane shipment record, highlighting stronger network efficiency and growing export demand.
Canadian National Railway Company(CNI)Earnings, Financials & Key Ratios
CNI•NYSE
$122.78
23.1× P/E·Price updated Jul 7, 2026
AboutCanadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of 19,500 route miles of track spanning Canada and the United States. The company also provides vessels and docks, transloading and distribution, automotive logistics, and freight forwarding and transportation management services. Canadian National Railway Company was incorporated in 1919 and is headquartered in Montreal, Canada.Show more
- Revenue$17.29B+1.4%
- EBITDA$8.52B+4.7%
- Net Income$4.72B+6.0%
- EPS (Diluted)7.56+7.8%
- Gross Margin44.87%+9.8%
- EBITDA Margin49.27%+3.2%
- Operating Margin38.07%+3.9%
- Net Margin27.28%+4.5%
- ROE22.14%+2.5%
CNI Price & Volume
Canadian National Railway Company (CNI) stock price & volume — 10-year historical chart
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Stagnant Revenue Growth Challenges Capital Intensive Operations
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strong
Financial:Healthy
Cash Flow:Stable
Primary Risk:Regulatory and labor volatility
Key Thesis Takeaways
- Canadian National Railway maintains a robust competitive moat through its 19,500-mile rail network, yet it faces significant headwinds from stagnant top-line growth that has fluctuated between -2.5% and 3.6% over the last ten quarters.
- While the company demonstrates strong cash conversion with an OCF/NI ratio peaking at 1.78 in 2025Q4, the reliance on debt to fund infrastructure—evidenced by a debt-to-equity ratio of 1.05—warrants caution.
- Investors should monitor whether management can improve operating leverage, as current income has largely tracked sideways despite maintaining gross margins as high as 46.3%.
Verdict Logic
while the company exhibits strong cash generation with an OCF/NI ratio of 1.78, the stagnant revenue growth and a current ratio of 0.67 suggest limited near-term upside potential.
CNI Growth Metrics
Canadian National Railway Company (CNI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years3.21%
5 Years4.58%
3 Years0.36%
TTM0.54%
Profit CAGR
10 Years2.92%
5 Years5.88%
3 Years-2.69%
TTM4.46%
EPS CAGR
10 Years5.59%
5 Years8.62%
3 Years0.53%
TTM6.44%
Return on Capital
10 Years13.84%
5 Years13.26%
3 Years12.86%
Last Year12.2%
CNI Recent Earnings
Canadian National Railway Company (CNI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
Apr 29, 2026Metric
Actual
Est
EPS
$1.31+0.0%
$1.31
Rev
$3.1B+0.0%
$3.1B
Q1 2026
Jan 30, 2026Metric
Actual
Est
EPS
$1.49+4.2%
$1.43
Rev
$3.3B+0.1%
$3.2B
Q4 2025
Oct 31, 2025Metric
Actual
Est
EPS
$1.33+3.9%
$1.28
Rev
$2.1B-51.6%
$4.4B
Q3 2025
Jul 22, 2025Metric
Actual
Est
EPS
$1.35-1.5%
$1.37
Rev
$3.1B-24.8%
$4.2B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $1.31vs $1.31+0.0% | $3.1Bvs $3.1B+0.0% |
| Q1 2026 | Jan 30, 2026 | $1.49vs $1.43+4.2% | $3.3Bvs $3.2B+0.1% |
| Q4 2025 | Oct 31, 2025 | $1.33vs $1.28+3.9% | $2.1Bvs $4.4B-51.6% |
| Q3 2025 | Jul 22, 2025 | $1.35vs $1.37-1.5% | $3.1Bvs $4.2B-24.8% |
Based on last 12 quarters of dataView full earnings history →
Latest CNI News
Recent stock market news and headlines for Canadian National Railway Company (CNI)
GlobeNewsWire·4 days ago
CN Reports June Grain MovementMONTREAL, July 03, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that it established a new monthly record for grain movement across its network. In June, CN moved 2.67 million metric tonnes (MMT) of grain from Western Canada, surpassing the previous June record of 2.64 MMT set in June 2020.
GlobeNewsWire·4 days ago
CN to Report Second-Quarter 2026 Financial and Operating Results on July 24, 2026MONTREAL, July 03, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) will issue its second-quarter 2026 financial and operating results before the markets open on July 24, 2026.
Zacks Investment Research·6 days ago
Canadian National Secures Long-Term Growth Through PlasCred ProjectCNI backs PlasCred's proposed Neos recycling facility with a long-term lease, leveraging rail infrastructure to cut costs and support circular economy goals.
Zacks Investment Research·Jun 29, 2026
CNI Reinforces Long-Term Growth With Strong Sustainability ProgressCNI's 2025 sustainability update highlights progress on emissions, safety and ESG goals, underscoring its long-term strategy for sustainable growth.
Peers Comparison
Key metrics vs top competitors for Canadian National Railway Company (CNI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $122.78 | $75.07B | 23.08 | 1.43% | 27.28% | 22.14% | 2.03% | |
| $88.72 | $79.65B | 27.96 | 3.66% | 27.21% | 10.09% | — | |
| $283.12 | $168.08B | 23.65 | 1.07% | 29.82% | 42.37% | — | |
| $48.51 | $90.14B | 31.50 | -3.08% | 21.55% | 23.52% | — | |
| $322.74 | $72.48B | 25.31 | 0.47% | 21.91% | 17.43% | — | |
| $259.19 | $43.98B | 37.95 | 7.51% | 10.52% | 10.9% | — |
Compare CNI vs Peers
Canadian National Railway Company (CNI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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CNI Frequently Asked Questions
Canadian National Railway Company (CNI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Canadian National Railway Company's revenue?
Canadian National Railway Company (CNI) reported $17.29B in revenue for fiscal year 2025. This represents a 337% increase from $3.96B in 1996.
How fast is Canadian National Railway Company growing?
Canadian National Railway Company (CNI) grew revenue by 1.4% over the past year. Growth has been modest.
Is CNI profitable?
Yes, Canadian National Railway Company (CNI) is profitable, generating $4.71B in net income for fiscal year 2025 (27.3% net margin).
Dividend & Returns
Does CNI pay dividends?
Yes, Canadian National Railway Company (CNI) pays a dividend with a yield of 2.03%. This makes it attractive for income-focused investors.
What is CNI's return on equity?
Canadian National Railway Company (CNI) has a return on equity (ROE) of 22.1%. This is excellent, indicating efficient use of shareholder capital.
What is Canadian National Railway Company's free cash flow?
Canadian National Railway Company (CNI) generated $3.57B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.