Norfolk Southern Corporation (NSC) Earnings History
Growth Compounder37 years of earnings data (1989–2025) · Consistent double-digit EPS growth over 5 years
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Norfolk Southern Corporation (NSC) Earnings Overview
As of July 8, 2026, Norfolk Southern Corporation (NSC) reported trailing twelve-month net income of $2.67B, reflecting +10.2% year-over-year growth. The company earned $12.75 per diluted share over the past four quarters, with a net profit margin of 23.6%.
Looking at the long-term picture, NSC's 5-year EPS compound annual growth rate (CAGR) stands at +10.2%, showing solid earnings momentum. The company achieved its highest annual net income of $5.40B in fiscal 2017.
Norfolk Southern Corporation maintains industry-leading profitability with a gross margin of 42.4%, operating margin of 32.9%, and net margin of 23.6%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including CSX ($3.05B net income, 20.5% margin), UNP ($5.51B net income, 29.1% margin), CP ($4.08B net income, 27.5% margin), NSC has outperformed on profitability metrics. Compare NSC vs CSX →
NSC Earnings vs Peers
Earnings metrics vs comparable public companies
NSC Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.87B | +9.6% | $4.01B | $12.75 | 23.6% | 32.9% |
| 2024 | $2.62B | +43.5% | $3.76B | $11.57 | 21.6% | 31.0% |
| 2023 | $1.83B | -44.1% | $2.81B | $8.02 | 15.0% | 23.1% |
| 2022 | $3.27B | +8.8% | $4.73B | $13.88 | 25.7% | 37.1% |
| 2021 | $3.00B | +49.3% | $4.37B | $12.11 | 27.0% | 39.2% |
| 2020 | $2.01B | -26.0% | $3.40B | $7.84 | 20.6% | 34.7% |
| 2019 | $2.72B | +2.1% | $3.89B | $10.25 | 24.1% | 34.5% |
| 2018 | $2.67B | -50.7% | $3.96B | $9.51 | 23.3% | 34.6% |
| 2017 | $5.40B | +224.0% | $3.52B | $18.61 | 51.2% | 33.4% |
| 2016 | $1.67B | +7.2% | $3.07B | $5.62 | 16.9% | 31.0% |
| 2015 | $1.56B | -22.2% | $2.88B | $5.10 | 14.8% | 27.4% |
| 2014 | $2.00B | +4.7% | $3.57B | $6.39 | 17.2% | 30.7% |
| 2013 | $1.91B | +9.2% | $3.25B | $6.04 | 17.0% | 28.9% |
| 2012 | $1.75B | -8.7% | $3.12B | $5.37 | 15.8% | 28.2% |
| 2011 | $1.92B | +28.1% | $3.21B | $5.45 | 17.2% | 28.7% |
| 2010 | $1.50B | +44.7% | $2.67B | $4.00 | 15.7% | 28.0% |
| 2009 | $1.03B | -39.7% | $1.96B | $2.76 | 13.0% | 24.6% |
| 2008 | $1.72B | +17.2% | $3.08B | $4.52 | 16.1% | 28.9% |
| 2007 | $1.46B | -1.1% | $2.57B | $3.68 | 15.5% | 27.3% |
| 2006 | $1.48B | +15.6% | $2.56B | $3.57 | 15.7% | 27.2% |
| 2005 | $1.28B | +38.8% | $2.16B | $3.11 | 15.0% | 25.3% |
| 2004 | $923M | +72.5% | $1.70B | $2.31 | 12.6% | 23.3% |
| 2003 | $535M | +16.3% | $1.06B | $1.37 | 8.3% | 16.5% |
| 2002 | $460M | +22.7% | $1.16B | $1.18 | 7.3% | 18.5% |
| 2001 | $375M | +118.0% | $1.01B | $0.97 | 6.1% | 16.3% |
| 2000 | $172M | -28.0% | $633M | $0.45 | 2.8% | 10.3% |
| 1999 | $239M | -67.4% | $718M | $0.63 | 4.6% | 13.8% |
| 1998 | $734M | +1.8% | $1.05B | $1.93 | 17.4% | 24.9% |
| 1997 | $721M | -6.4% | $1.21B | $1.90 | 17.1% | 28.7% |
| 1996 | $770M | +8.1% | $1.20B | $2.01 | 16.2% | 25.1% |
| 1995 | $713M | +6.7% | $1.09B | $1.80 | 15.3% | 23.3% |
| 1994 | $668M | -13.5% | $1.07B | $1.63 | 14.6% | 23.3% |
| 1993 | $772M | +38.4% | $860M | $1.83 | 17.3% | 19.3% |
| 1992 | $558M | +1777.8% | $887M | $1.30 | 12.1% | 19.2% |
| 1991 | $30M | -94.7% | $112M | $0.07 | 0.7% | 2.5% |
| 1990 | $556M | -8.3% | $808M | $1.16 | 12.0% | 17.5% |
| 1989 | $606M | - | $825M | $1.16 | 13.4% | 18.2% |
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NSC — Frequently Asked Questions
Quick answers to the most common questions about buying NSC stock.
What is NSC earnings per share (EPS)?
NSC trailing twelve-month (TTM) diluted EPS is $12.75, reflecting +10.2% year-over-year growth. The 5-year EPS CAGR is +10.2%. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Norfolk Southern Corporation's net income?
Norfolk Southern Corporation (NSC) trailing twelve-month net income is $2.7B as of 2025. Earnings grew +10.2% year-over-year. Norfolk Southern Corporation has been profitable for 37 consecutive years.
Is NSC profitable?
Yes, NSC is profitable with a TTM net income of $2.7B and a net profit margin of +23.6%. Norfolk Southern Corporation has generated profits for 37 consecutive years.
What is NSC's earnings growth rate?
NSC compound annual EPS growth rates (CAGR): 1-Year: +10.2%, 3-Year: -2.8%, 5-Year: +10.2%, 10-Year: +9.6%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are NSC's profit margins?
Norfolk Southern Corporation net profit margin is +23.6%, operating margin is +32.9%, and gross margin is +42.4%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +19.2%.
Is NSC growing earnings?
NSC is growing earnings steadily. YoY EPS growth of +10.2% is consistent with the 5-year CAGR of +10.2%. TTM net income is $2.7B.
What was NSC's best earnings year?
Norfolk Southern Corporation's highest annual net income on record is $5.4B, achieved in fiscal year 2017. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were NSC's earnings last quarter?
NSC's most recent reported quarter was Q1 2026. Net income was $547M with diluted EPS of $2.43. For a full breakdown of all quarters, see the quarterly earnings table on this page.