CSX vs Norfolk Southern
CSX is the larger business, with $14.09bn of revenue in fiscal 2025 against $12.18bn for Norfolk Southern (1.2 times as much). Norfolk Southern grew faster (0.5% against -3.1%). Norfolk Southern kept more of each dollar of sales as profit: a net margin of 23.6% against 20.5%.
| Latest fiscal year | CSXCSX, 2025 | Norfolk SouthernNSC, 2025 |
|---|---|---|
| Revenue | $14.09bn | $12.18bn |
| Revenue growth | -3.1% | 0.5% |
| Net income | $2.89bn | $2.87bn |
| Operating margin | — | 35.8% |
| Net margin | 20.5% | 23.6% |
| Return on equity | 22.5% | 19.2% |
| Free cash flow | $1.71bn | $2.16bn |
| Cash | $670m | $1.53bn |
| Total debt | $18.87bn | $17.09bn |
| Debt to equity | — | 109.9% |
| Dividend per share | $0.52 | $5.40 |
| Dividend yield | 1.1% | 1.6% |
| Share buybacks | $1.40bn | $534m |
| Employees | — | 19,400 |
| Market value | $94.36bn | $76.93bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 92 (Strong) | 83 (Strong) |
| Insider trades, 12 months | 1 buys, 7 sales | 2 buys, 1 sales |