Norfolk Southern Corporation (NSC) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NSC Revenue Growth
Revenue Breakdown (FY 2025)
NSC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
NSC Revenue Analysis (2014–2025)
As of May 8, 2026, Norfolk Southern Corporation (NSC) generated trailing twelve-month (TTM) revenue of $12.19 billion, reflecting modest growth of +0.2% year-over-year. The most recent quarter (Q1 2026) recorded $3.00 billion in revenue, up 0.8% sequentially.
Looking at the longer-term picture, NSC's 5-year compound annual growth rate (CAGR) stands at +4.5%, indicating moderate growth over time. The company achieved its highest annual revenue of $12.74 billion in 2022.
Revenue diversification analysis shows NSC's business is primarily driven by Railway Operating Revenues Market Group Merchandise (63%), Railway Operating Revenues Market Group Intermodal (25%), and Railway Operating Revenues Market Group Coal (12%). With over half of revenue concentrated in Railway Operating Revenues Market Group Merchandise, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including CSX (-0.9% YoY), UNP (-23.7% YoY), and CP (+1.1% YoY), NSC has underperformed the peer group in terms of revenue growth. Compare NSC vs CSX →
NSC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NSCCurrent | $12.2B | +0.2% | +4.5% | 32.9% | |
 CSX | $14.1B | -0.9% | +5.9% | 32.1% | |
 UNP | $24.5B | -23.7% | +4.6% | 40.1% | |
 CP | $15.1B | +1.1% | +14.4% | 37.2% | |
 WAB | $11.2B | +9.6% | +8.1% | 16.7% | |
 RAIL | $501M | -5.2% | +35.8% | 6.8% |
NSC Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $12.18B | +0.5% | $5.17B | 42.4% | $4.01B | 32.9% |
| 2024 | $12.12B | -0.3% | $3.76B | 31.0% | $3.76B | 31.0% |
| 2023 | $12.16B | -4.6% | $2.81B | 23.1% | $2.81B | 23.1% |
| 2022 | $12.74B | +14.4% | $4.73B | 37.1% | $4.73B | 37.1% |
| 2021 | $11.14B | +13.8% | $4.37B | 39.2% | $4.37B | 39.2% |
| 2020 | $9.79B | -13.3% | $3.40B | 34.7% | $3.40B | 34.7% |
| 2019 | $11.30B | -1.4% | $3.89B | 34.5% | $3.89B | 34.5% |
| 2018 | $11.46B | +8.6% | $3.96B | 34.6% | $3.96B | 34.6% |
| 2017 | $10.55B | +6.7% | $3.52B | 33.4% | $3.52B | 33.4% |
| 2016 | $9.89B | -5.9% | $3.07B | 31.0% | $3.07B | 31.0% |
Full NSC Stock Analysis
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Start ComparisonNSC — Frequently Asked Questions
Quick answers to the most common questions about buying NSC stock.
Is NSC's revenue growth accelerating or slowing?
NSC revenue growth slowed to +0.2%, below the 5-year CAGR of +4.5%. TTM revenue is $12.2B. The deceleration marks a shift from historical growth rates.
What is NSC's long-term revenue growth rate?
Norfolk Southern Corporation's 5-year revenue CAGR of +4.5% reflects the variable expansion pattern. Current YoY growth of +0.2% is near this long-term average.
How is NSC's revenue distributed by segment?
NSC reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.