Canadian National Railway Company (CNI) Revenue History
Annual and quarterly revenue from 1995 to present
CNI Revenue Over Time (1995–2025)
CNI Revenue Growth History
23 of 30 years with positive growth- FY1995 revenue growth
- N/A
- FY1996 revenue growth
- +0.1%
- FY1997 revenue growth
- +9.3%
- FY1998 revenue growth
- -5.5%
- FY1999 revenue growth
- +28.1%
- FY2000 revenue growth
- +3.7%
- FY2001 revenue growth
- +4.1%
- FY2002 revenue growth
- +8.1%
- FY2003 revenue growth
- -3.7%
- FY2004 revenue growth
- +11.3%
- FY2005 revenue growth
- +10.6%
- FY2006 revenue growth
- +9.5%
- FY2007 revenue growth
- -0.4%
- FY2008 revenue growth
- +7.4%
- FY2009 revenue growth
- -13.1%
- FY2010 revenue growth
- +12.6%
- FY2011 revenue growth
- +8.8%
- FY2012 revenue growth
- +9.9%
- FY2013 revenue growth
- +6.6%
- FY2014 revenue growth
- +14.7%
- FY2015 revenue growth
- +3.9%
- FY2016 revenue growth
- -4.6%
- FY2017 revenue growth
- +8.3%
- FY2018 revenue growth
- +9.8%
- FY2019 revenue growth
- +4.2%
- FY2020 revenue growth
- -7.4%
- FY2021 revenue growth
- +4.8%
- FY2022 revenue growth
- +18.2%
- FY2023 revenue growth
- -1.6%
- FY2024 revenue growth
- +1.3%
- FY2025 revenue growth
- +1.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.65B | +11.4% |
| Q2 2026 | $4.76B | +11.3% |
| Q1 2026 | $4.39B | -0.3% |
| Q4 2025 | $4.46B | +2.3% |
| Q3 2025 | $4.17B | +1.5% |
| Q2 2025 | $4.27B | -1.3% |
| Q1 2025 | $4.40B | +3.6% |
| Q4 2024 | $4.36B | -2.5% |
Multi-year avg. share of annual revenue by fiscal quarter
CNI Revenue Analysis (1995–2025)
Current Revenue & Growth
As of November 7, 2026, Canadian National Railway Company (CNI) generated trailing twelve-month (TTM) revenue of $18.25 billion, reflecting strong growth of +11.4% year-over-year. The most recent quarter (Q3 2026) recorded $4.65 billion in revenue, down 2.3% sequentially.
Historical Growth Trajectory
CNI's 5-year compound annual growth rate (CAGR) stands at +4.6%, indicating moderate growth over time. The 3-year CAGR of +0.4% is below the 5-year average, signalling a growth deceleration in recent years. Canadian National Railway Company's highest annual revenue of $17.29 billion was recorded in 2025, an all-time high.
Peer Comparison
Compared to Industrials sector peers — including CP (+52.7% YoY), UNP (+7.4% YoY), and CSX (+5.8% YoY) — CNI has underperformed the peer group in revenue growth. Compare CNI vs CP →
CNI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CNICurrent | $18.3B | +11.4% | +4.6% | 38.1% | |
 CP | $15.1B | +52.7% | +14.4% | 37.2% | |
 UNP | $24.5B | +7.4% | +4.6% | 40.1% | |
 CSX | $14.1B | +5.8% | +5.9% | 32.1% | |
 NSC | $12.2B | +6.0% | +4.5% | 32.9% | |
 WAB | $11.2B | +13.2% | +8.1% | 16.7% |
CNI Historical Revenue Data (1995–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $17.29B | +1.4% | $7.76B | 44.9% | $6.58B | 38.1% |
| 2024 | $17.05B | +1.3% | $6.97B | 40.9% | $6.25B | 36.6% |
| 2023 | $16.83B | -1.6% | $7.15B | 42.5% | $6.60B | 39.2% |
| 2022 | $17.11B | +18.2% | $7.40B | 43.2% | $6.84B | 40.0% |
| 2021 | $14.48B | +4.8% | $6.07B | 41.9% | $5.62B | 38.8% |
| 2020 | $13.82B | -7.4% | $5.77B | 41.8% | $4.78B | 34.6% |
| 2019 | $14.92B | +4.2% | $6.08B | 40.8% | $5.59B | 37.5% |
| 2018 | $14.32B | +9.8% | $5.96B | 41.6% | $5.49B | 38.4% |
| 2017 | $13.04B | +8.3% | $5.67B | 43.5% | $5.24B | 40.2% |
| 2016 | $12.04B | -4.6% | $5.39B | 44.8% | $5.03B | 41.8% |
| 2015 | $12.61B | +3.9% | $5.66B | 44.9% | $5.27B | 41.8% |
| 2014 | $12.13B | +14.7% | $4.99B | 41.1% | $4.62B | 38.1% |
| 2013 | $10.57B | +6.6% | $4.17B | 39.4% | $3.87B | 36.6% |
| 2012 | $9.92B | +9.9% | $4.02B | 40.6% | $3.69B | 37.1% |
| 2011 | $9.03B | +8.8% | $3.57B | 39.6% | $3.30B | 36.5% |
CNI Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
31+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
CNI — Frequently Asked Questions
Quick answers to the most common questions about buying CNI stock.
Is CNI's revenue growth accelerating or slowing?
CNI revenue growth is holding steady at +11.4% year-over-year. TTM revenue is $18.3B. The current growth rate closely tracks the 5-year CAGR of +4.6%, signalling consistent execution.
What is CNI's revenue history from 1995 to 2026?
Canadian National Railway Company (CNI) revenue history spans 1995 to 2026. TTM revenue as of 2026 is $18.3B, growing at +11.4% YoY. The 5-year CAGR is +4.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CNI's long-term revenue growth rate (CAGR)?
Canadian National Railway Company's 5-year revenue CAGR of +4.6% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +11.4% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CNI.
Why does CNI's quarterly revenue fluctuate?
CNI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Canadian National Railway Company's revenue data from 1995 to 2026 shows full historical quarterly detail on this page.
How is CNI's revenue distributed by segment?
CNI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CNI's revenue compare to industry peers?
Canadian National Railway Company (CNI) with TTM revenue of $18.3B and +11.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.