Norfolk Southern (NSC): analysis in plain words
Is Norfolk Southern cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Norfolk Southern (NSC) is listed on the NYSE and we classify it in industrials. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Norfolk Southern according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Norfolk Southern (NSC) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $344.14 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 28.8x | Price over earnings per share |
| Revenue growth | +13.6% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 20.7% | Profit for every 100 of sales |
| Net debt / EBITDA | 2.7x | Years of operating profit to repay debt |
| Dividend yield | 1.58% | Annual dividend over price |
| Market cap | $77.3 billion | What the stock market values it at |
The Norfolk Southern figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any NSC figure that is not available shows as N/A: we do not estimate it.
How Norfolk Southern makes money
Norfolk Southern operates freight railroads in the eastern United States. It groups revenue into merchandise, its largest category, covering chemicals, metals, autos and agricultural goods, plus intermodal container traffic and coal. It has agreed to merge with Union Pacific, a deal that still requires regulatory approval.
Over the last 12 months, Norfolk Southern brought in revenue of $13.0 billion. For every 100 it sells, Norfolk Southern keeps 44.7 after the direct cost of what it sells (gross margin) and 35.4 after all operating costs (operating margin). With 19,300 full-time employees, that is about $672,000 of revenue per employee.
Norfolk Southern against its sector
To know whether a Norfolk Southern figure is high or low you have to put it next to similar companies. This table compares Norfolk Southern with the median of the 20 industrials companies Fintols covers, with data as of November 4, 2026.
| Figure | Norfolk Southern | industrials median |
|---|---|---|
| P/E | 28.8x | 27.3x (20) |
| Revenue growth | +13.6% | +9.8% (20) |
| Net margin | 20.7% | 13.0% (20) |
| Dividend yield | 1.58% | 1.60% (20) |
| Net debt / EBITDA | 2.7x | 2.1x (20) |
In short, against the typical industrials company, Norfolk Southern grows faster, earns a wider margin and carries more debt. By size, Norfolk Southern ranks number 13 of 15 industrials companies quoted in USD on Fintols.
The bull case for Norfolk Southern
What works in favour of Norfolk Southern, according to its figures as of November 4, 2026:
- Norfolk Southern keeps 20.7 of every 100 it sells as net profit, against 13.0 for the median industrials company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Norfolk Southern grew sales +13.6% in its latest quarter against the same quarter a year earlier, while the median industrials company Fintols tracks grew +9.8%.
- Analysts expect Norfolk Southern earnings to rise: its P/E on the next 12 months of estimated earnings is 23.7x, below the current 28.8x.
The main risk for Norfolk Southern
The Norfolk Southern figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: the economic cycle: when industry and trade slow, its orders fall.
Frequently asked questions about Norfolk Southern
Is it a good time to buy Norfolk Southern stock?
Fintols does not tell you whether to buy or sell Norfolk Southern, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Norfolk Southern stock trades at $344.14, 4% below its 52-week high ($358.60) and 24% above its low ($277.80). Its P/E is 28.8x against a industrials median of 27.3x, and 23.7x on the earnings analysts expect over the next 12 months. With Norfolk Southern, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Norfolk Southern pay a dividend?
Yes. As of November 4, 2026, Norfolk Southern pays $5.40 per share a year, which at today's price is a yield of 1.58%. It uses 45% of its profit to pay it, which leaves room to keep paying it if profit dips. The industrials median on Fintols is 1.60%.
Is Norfolk Southern stock expensive?
It depends on what you compare it with. On P/E, Norfolk Southern trades at 28.8x its last 12 months of earnings: in line with the industrials median (27.3x). Including its debt, Norfolk Southern is valued at 15.9x its EBITDA (EV/EBITDA). A high P/E alone does not make Norfolk Southern expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Norfolk Southern's competitors?
On Fintols we compare Norfolk Southern with Waste Management, CSX and Siemens, which are also in industrials. As of November 4, 2026, Waste Management is worth $94.8 billion and trades on a P/E of 31.3; CSX is worth $96.4 billion and trades on a P/E of 27.1; Siemens is worth €210.7 billion and trades on a P/E of 27.6. Each has a side-by-side comparison with Norfolk Southern below.
Norfolk Southern competitors
- Waste Management (WM) analysis · Norfolk Southern vs Waste Management comparison
- CSX (CSX) analysis · Norfolk Southern vs CSX comparison
- Siemens (SIE.DE) analysis · Norfolk Southern vs Siemens comparison
To understand Norfolk Southern better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Norfolk Southern: industrials stocks and S&P 500 companies. Open the full NSC analysis with its valuation and scenarios. Educational content about Norfolk Southern, not investment advice.