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CSX Corporation key statistics and ratios

In fiscal 2025, CSX Corporation had return on equity of 22.5% and a net margin of 20.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin12.6%14.7%15.7%15.8%15.5%15.2%16.7%15.5%48.0%27.0%27.9%26.1%30.2%27.7%25.0%23.9%20.5%24.0%
Return on equity13.0%17.8%21.3%21.0%19.0%17.8%17.2%14.7%41.4%24.2%27.3%22.1%28.5%31.7%30.0%28.3%22.5%26.0%
Return on assets4.3%5.7%6.4%6.2%6.0%5.9%5.8%4.9%15.4%9.1%8.9%7.1%9.4%10.0%8.7%8.2%6.7%8.1%
Effective tax rate35.4%38.6%36.9%37.3%36.2%36.7%37.3%37.5%—23.1%22.8%23.8%23.6%23.0%24.0%23.8%23.3%23.6%
Dividends ÷ net income30.2%23.8%25.9%30.0%32.2%32.6%34.9%39.7%12.9%22.7%22.9%28.8%22.2%20.7%24.0%26.8%33.6%28.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $45.2bn
Short-term assets $3.6bnLonger-term assets $41.5bn
What it owes, and who funded it · $45.2bn
Short-term liabilities $4.3bnLonger-term liabilities $26.5bnShareholders' equity $14.4bn
  • Short-term assets cover short-term liabilities $3.6bn of assets due within a year against $4.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.6bn short-term assets against $26.5bn of longer-dated liabilities.
  • More cash than debt $1.2bn of cash against $17.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 119% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 121% to 119% over five years.
  • A year's operating cash flow covers at least 20% of debt $5.6bn of operating cash flow against $17.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of $5.4bn against $844m of interest.

From CSX Corporation's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

92 /100

Strong moat

How hard CSX's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Net income has been a median 8.6% of total assets over 10 years.

  • Durability 20 / 20

    Operating margin has been a median 38.8%; its worst year was 31.1%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 21.1% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 23.7% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: CSX vs NSCCSX vs UNP

More: Rail Transportation stocks compared, Industrials sector, rankings of US companies

Figures from CSX Corporation's SEC filings (10-K and 10-Q), retrieved October 23, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to CSX Corporation.