CNI's gross margin has held between roughly 40% and 46% and its operating margin near 38.7% in the latest quarter, suggesting a structurally pricing-supported rail franchise rather than a cyclical outlier.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue rose from roughly $4.1B to $4.6B across the period while operating margin held in a 35% to 39% band, with the latest quarter at 38.7%, indicating disciplined cost control.
CNI has a wide-moat business, indicating a sustainable competitive advantage in the North American freight industry.
The company plays an essential role in North American freight, ensuring consistent demand for its services.
CNI has increased its dividend for 29 consecutive years, demonstrating financial stability and shareholder commitment.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 30, 2026 | $1.54+3.4% vs $1.49 | $3.4B+2.4% vs $3.3B |
Q3 2026 Jul 24, 2026 | $1.50+7.9% vs $1.39 | $3.3B+2.6% vs $3.3B |
Q2 2026 Apr 29, 2026 | $1.31+0.0% vs $1.31 | $3.1B+0.0% vs $3.1B |
Q1 2026 Jan 30, 2026 | $1.49+4.2% vs $1.43 | $3.3B+0.1% vs $3.2B |
Canadian National Railway sets a new grain shipment record in October 2026, driven by strong demand, while its winter plan aims to sustain reliable rail operations.
Canadian National's Q3 2026 earnings beat estimates as broad-based freight growth and productivity gains lift revenues, despite rising fuel costs and margin pressure.
MONTREAL, Nov. 05, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that it set a new all-time monthly record for grain and processed grain products moved across Canada in any single month, shipping 3.54 million metric tonnes (MMT) in October. This surpasses the previous record of 3.51 MMT set in October 2025.
Novartis, Mitsubishi and Canadian Natural are examples of companies in developed markets outside the U.S. that pass screens for high dividend yields and low volatility for prices and earnings.
Benchmark CNI against direct peers instead of judging its metrics in isolation.
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 |
|---|---|---|---|---|---|---|---|
| $124.06 | $75.04B | 23.07 | 1.43% | 27.28% | 22.14% | 2.03% | |
| $92.17 | $81.02B | 28.73 | 3.66% | 18.3% | 8.9% | 0.67% | |
| $290.16 | $172.38B | 24.24 | 1.07% | 28.9% | 37.82% | 1.88% | |
| $49.12 | $90.99B | 31.90 | -3.08% | 23.97% | 25.94% | 1.06% | |
| $319.94 | $71.86B | 25.09 | 0.47% | 20.71% | 16.69% | 1.69% | |
| $283.59 | $47.9B | 41.52 | 7.51% | 11.2% | 12.13% | 0.36% |
Canadian National Railway Company (CNI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Canadian National Railway Company (CNI) stock FAQ — growth, dividends, profitability & financials explained
Canadian National Railway Company (CNI) reported $18.25B in revenue over the trailing twelve months. Revenue was $17.29B in fiscal year 2025. That is 337% more than the $3.96B of fiscal year 1996.
Canadian National Railway Company (CNI) grew revenue by 1.4% in fiscal year 2025, compared with the prior fiscal year.
Yes. Canadian National Railway Company (CNI) earned $4.82B in net income over the trailing twelve months (a 26.4% net margin).
Yes. Canadian National Railway Company (CNI) pays a dividend that yields 2.03% at the current price, a moderate yield.
Canadian National Railway Company (CNI) had a return on equity (ROE) of 22.1% in fiscal year 2025. That is well above the market's typical 10-15%.
Canadian National Railway Company (CNI) generated $3.81B in free cash flow over the trailing twelve months.
