CSX Corporation (CSX) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Railroads
EV/EBITDA
↓
17.85
↑+38% vs avg
5yr avg: 12.97
30Y Low5.6·High15.1
P/FCF
↑
49.55
↑+93% vs avg
5yr avg: 25.73
30Y Low11.3·High134.4
P/B Ratio
↓
6.46
+18% vs avg
5yr avg: 5.50
30Y Low0.9·High6.3
ROE
↓
22.5%
-20% vs avg
5yr avg: 28.1%
30Y Low0%·High41%
Debt/EBITDA
↑
3.34
↑+21% vs avg
5yr avg: 2.75
30Y Low2.0·High5.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CSX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CSX Corporation trades at 29.6x earnings, 50% above its 5-year average of 19.8x, sitting at the 90th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 16%. On a free-cash-flow basis, the stock trades at 49.6x P/FCF, 93% above the 5-year average of 25.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $84.8B | $67.6B | $62.7B | $69.8B | $66.3B | $84.8B | $69.7B | $57.7B | $53.5B | $50.3B | $34.1B |
| Enterprise Value | $103.5B | $86.3B | $80.8B | $87.5B | $82.9B | $99.4B | $83.7B | $73.5B | $67.4B | $61.7B | $44.8B |
| P/E Ratio → | 29.63 | 23.54 | 18.03 | 19.05 | 15.89 | 22.38 | 25.21 | 17.35 | 16.18 | 9.17 | 19.97 |
| P/S Ratio | 6.02 | 4.79 | 4.31 | 4.76 | 4.47 | 6.77 | 6.59 | 4.84 | 4.37 | 4.41 | 3.08 |
| P/B Ratio | 6.46 | 5.13 | 5.01 | 5.82 | 5.25 | 6.28 | 5.32 | 4.86 | 4.25 | 3.41 | 2.91 |
| P/FCF | 49.55 | 39.49 | 23.07 | 21.43 | 19.03 | 25.63 | 26.43 | 18.08 | 18.47 | 35.12 | 52.99 |
| P/OCF | 18.38 | 14.65 | 11.95 | 12.66 | 11.80 | 16.63 | 16.35 | 11.91 | 11.53 | 14.48 | 11.20 |
P/E links to full P/E history page with 30-year chart
CSX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CSX Corporation's enterprise value stands at 17.8x EBITDA, 38% above its 5-year average of 13.0x. The Industrials sector median is 13.9x, placing the stock at a 29% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.12 | 5.55 | 5.97 | 5.58 | 7.94 | 7.91 | 6.16 | 5.50 | 5.41 | 4.04 |
| EV / EBITDA | 17.85 | 14.88 | 11.45 | 12.31 | 11.12 | 15.11 | 14.64 | 12.06 | 11.28 | 12.19 | 9.78 |
| EV / EBIT | 22.89 | 18.79 | 14.99 | 15.51 | 13.62 | 17.52 | 19.11 | 14.55 | 13.63 | 16.73 | 13.48 |
| EV / FCF | — | 50.41 | 29.71 | 26.85 | 23.78 | 30.05 | 31.75 | 23.02 | 23.27 | 43.08 | 69.61 |
CSX Profitability
Margins and return-on-capital ratios measuring operating efficiency
CSX Corporation earns an operating margin of 32.1%, significantly above the Industrials sector average of 4.3%. Operating margins have compressed from 37.3% to 32.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 22.5% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 10.9% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2% | 33.2% | 37.9% | 38.2% | 38.5% | 42.2% | 42.0% | 40.6% | 38.7% | 33.9% | 30.5% |
| Operating Margin | 32.1% | 32.1% | 36.9% | 37.3% | 40.1% | 41.2% | 41.0% | 39.8% | 37.9% | 32.9% | 29.6% |
| Net Profit Margin | 20.5% | 20.5% | 23.9% | 25.0% | 27.7% | 30.2% | 26.1% | 27.9% | 27.0% | 47.9% | 15.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.5% | 22.5% | 28.3% | 29.8% | 31.5% | 28.4% | 22.1% | 27.2% | 24.2% | 41.4% | 14.6% |
| ROA | 6.7% | 6.7% | 8.2% | 8.7% | 10.0% | 9.4% | 7.1% | 8.9% | 9.1% | 15.4% | 4.9% |
| ROIC | 10.9% | 10.9% | 13.4% | 13.9% | 15.6% | 14.0% | 11.9% | 13.1% | 13.2% | 11.6% | 11.2% |
| ROCE | 11.3% | 11.3% | 13.7% | 13.9% | 15.3% | 13.6% | 11.7% | 13.4% | 13.5% | 11.2% | 9.9% |
CSX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CSX Corporation carries a Debt/EBITDA ratio of 3.3x, which is moderately leveraged (roughly in line with the sector average of 3.2x). Net debt stands at $18.7B ($19.4B total debt minus $670M cash). Interest coverage of 5.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.47 | 1.47 | 1.52 | 1.59 | 1.47 | 1.25 | 1.31 | 1.41 | 1.17 | 0.80 | 0.96 |
| Debt / EBITDA | 3.34 | 3.34 | 2.69 | 2.68 | 2.49 | 2.56 | 3.00 | 2.75 | 2.47 | 2.33 | 2.47 |
| Net Debt / Equity | — | 1.42 | 1.44 | 1.47 | 1.31 | 1.08 | 1.07 | 1.33 | 1.10 | 0.77 | 0.91 |
| Net Debt / EBITDA | 3.22 | 3.22 | 2.56 | 2.49 | 2.22 | 2.22 | 2.45 | 2.59 | 2.33 | 2.25 | 2.34 |
| Debt / FCF | — | 10.92 | 6.64 | 5.43 | 4.76 | 4.42 | 5.32 | 4.94 | 4.80 | 7.97 | 16.63 |
| Interest Coverage | 5.44 | 5.44 | 6.47 | 6.97 | 8.20 | 7.86 | 5.81 | 6.86 | 7.74 | 6.75 | 5.73 |
CSX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.81x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.04x to 0.81x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.81 | 0.81 | 0.86 | 1.04 | 1.56 | 1.73 | 2.20 | 1.52 | 1.34 | 1.01 | 1.22 |
| Quick Ratio | 0.69 | 0.69 | 0.73 | 0.91 | 1.42 | 1.58 | 2.05 | 1.40 | 1.20 | 0.81 | 1.02 |
| Cash Ratio | 0.22 | 0.22 | 0.31 | 0.45 | 0.84 | 1.04 | 1.55 | 0.91 | 0.58 | 0.22 | 0.50 |
| Asset Turnover | — | 0.32 | 0.34 | 0.35 | 0.35 | 0.31 | 0.27 | 0.31 | 0.33 | 0.32 | 0.31 |
| Inventory Turnover | 24.12 | 24.12 | 21.82 | 20.58 | 26.79 | 21.34 | 20.33 | 27.15 | 28.55 | 20.28 | 18.91 |
| Days Sales Outstanding | — | 33.62 | 33.29 | 34.69 | 32.27 | 33.46 | 31.45 | 30.15 | 30.09 | 31.04 | 30.93 |
CSX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CSX Corporation returns 2.8% to shareholders annually — split between a 1.1% dividend yield and 1.6% buyback yield. The payout ratio of 33.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.1% | 1.4% | 1.5% | 1.3% | 1.3% | 1.0% | 1.1% | 1.3% | 1.4% | 1.4% | 2.0% |
| Payout Ratio | 33.6% | 33.6% | 26.8% | 24.0% | 20.7% | 22.2% | 28.8% | 22.9% | 22.7% | 12.9% | 39.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 4.2% | 5.5% | 5.2% | 6.3% | 4.5% | 4.0% | 5.8% | 6.2% | 10.9% | 5.0% |
| FCF Yield | 2.0% | 2.5% | 4.3% | 4.7% | 5.3% | 3.9% | 3.8% | 5.5% | 5.4% | 2.8% | 1.9% |
| Buyback Yield | 1.6% | 2.1% | 3.6% | 5.0% | 7.1% | 3.4% | 1.2% | 5.8% | 8.7% | 3.9% | 3.1% |
| Total Shareholder Yield | 2.8% | 3.5% | 5.1% | 6.3% | 8.4% | 4.4% | 2.4% | 7.2% | 10.1% | 5.3% | 5.1% |
| Shares Outstanding | — | $1.9B | $1.9B | $2.0B | $2.1B | $2.3B | $2.3B | $2.4B | $2.6B | $2.7B | $2.8B |
Peer Comparison
Compare CSX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CSXYou | $85B | 29.6 | 17.8 | 49.6 | 33.2% | 32.1% | 22.5% | 10.9% | 3.3 |
 UNP | $153B | 21.5 | 14.9 | 27.7 | 59.4% | 40.1% | 40.4% | 15.2% | 2.6 |
 NSC | $67B | 23.5 | 15.4 | 31.2 | 42.4% | 32.9% | 19.2% | 9.8% | 3.2 |
 CP | $77B | 27.0 | 17.4 | 50.5 | 52.2% | 37.2% | 8.7% | 6.0% | 3.0 |
 CNI | $69B | 21.3 | 14.1 | 29.0 | 44.9% | 38.1% | 22.1% | 11.6% | 2.6 |
 WAB | $46B | 40.1 | 21.6 | 31.0 | 31.5% | 16.7% | 11.0% | 9.6% | 2.3 |
 RAIL | $296M | 8.6 | 9.6 | 9.4 | 14.6% | 6.8% | — | — | 3.8 |
 TRN | $3B | 11.3 | 12.0 | — | 26.6% | 16.6% | 20.6% | 4.1% | 8.2 |
 GE | $374B | 43.8 | 38.2 | 51.4 | 36.8% | 19.1% | 45.3% | 24.7% | 2.1 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 GNRC | $16B | 103.8 | 35.9 | 61.1 | 38.3% | 6.9% | 6.2% | 5.9% | 2.8 |
| Industrials Median | — | 25.6 | 13.9 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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CSX — Frequently Asked Questions
Quick answers to the most common questions about buying CSX stock.
What is CSX Corporation's P/E ratio?
CSX Corporation's current P/E ratio is 29.6x. The historical average is 18.1x. This places it at the 90th percentile of its historical range.
What is CSX Corporation's EV/EBITDA?
CSX Corporation's current EV/EBITDA is 17.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
What is CSX Corporation's ROE?
CSX Corporation's return on equity (ROE) is 22.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 17.6%.
Is CSX stock overvalued?
Based on historical data, CSX Corporation is trading at a P/E of 29.6x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is CSX Corporation's dividend yield?
CSX Corporation's current dividend yield is 1.14% with a payout ratio of 33.6%.
What are CSX Corporation's profit margins?
CSX Corporation has 33.2% gross margin and 32.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does CSX Corporation have?
CSX Corporation's Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.