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CompareEarnings: Aug 31, 2026

Norfolk Southern Corp

Exchange: NYSESector: IndustrialsIndustry: Railroads

Since 1827, Norfolk Southern Corporation and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes.

Current Price

$311.84

-2.00%

GoodMoat Value

$234.96

24.7% overvalued
Profile
Valuation (TTM)
Market Cap$70.03B
P/E26.23
EV$79.50B
P/B4.50
Shares Out224.57M
P/Sales5.75
Revenue$12.19B
EV/EBITDA15.34

Norfolk Southern Corp (NSC) Company Profile

GoodMoat Analysis

Based on data as of March 26, 2026

Norfolk Southern is a high-quality railroad operator with a durable economic moat, but its current valuation appears stretched relative to its intrinsic value. The company's profitability is strong, with an 18.5% ROE and 35.8% operating margin, yet recent revenue growth is negative. A value investor would see a quality business but likely require a more attractive price.

Read full analysis
Norfolk Southern Corp (NSC) operates one of North America's largest freight railroad networks, moving raw materials and finished goods across the Eastern United States. Its customers span industrial sectors, including manufacturers, utilities, agriculture, and intermodal shippers (containers transferred between ships, trucks, and trains). The company's primary competitive moat, as per Section 1 of the framework, stems from its 'Scale Privilege' and 'Regulatory Barriers.' Its vast, interconnected network of tracks and terminals represents immense physical infrastructure that is nearly impossible for a competitor to replicate. Furthermore, the railroad industry operates as a natural duopoly in its regions, protected by high regulatory barriers to entry. This grants the company significant pricing power, a key moat criterion. However, investors must watch key risks outlined in Section 5. The company carries a Debt/Equity ratio of 1.1, which, while manageable, introduces financial leverage risk. More notably, the -1.7% YoY revenue growth could be a 'Medium Confidence' red flag for 'Growth Deceleration' or 'Macro Sensitivity,' indicating the business is cyclical and may be facing economic headwinds. The current P/E of 22x and a market price significantly above the GoodMoat Target of $234.96 suggest the stock is trading at a full valuation. For a value investor, the appeal lies in the durable moat and high profitability, but the combination of elevated price, negative revenue trend, and leverage warrants a cautious approach, likely requiring a wider margin of safety.

NSC Company Information

Since 1827, Norfolk Southern Corporation and its predecessor companies have safely moved the goods and materials that drive the U. S. economy.

Today, it operates a 22-state freight transportation network.

Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail.

Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U. S.

It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes.

Sector

Industrials

Industry

Railroads

Exchange

NYSE

Country

Virginia, USA

NSC Key Officers

Key officers data coming soon

NSC Company Profile

Norfolk Southern Corp (NSC) is a Industrials company in the Railroads industry. It trades on NYSE. The company is based in Virginia, USA.

Since 1827, Norfolk Southern Corporation and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes.

Market cap is $70.03B. There are 224.6M shares outstanding. Dividend yield is 1.73%.

See the full Norfolk Southern Corp profile on GoodMoat. It covers key officers, financial metrics, and sector details. You can also use GoodMoat's DCF calculator, fair value models, and quality score to help decide if NSC is a good investment.