Capital Expenditures for Canadian National Railway (CNI)
According to Canadian National Railway's latest reported financial statements, the company's current capital expenditures (TTM) is $3.66B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$3.66B
YoY change
+3.0%
5Y CAGR
+5.0%
Peak year (2019)
$3.87B
Cumulative capital expenditures
$58.45B
CapEx history chart for Canadian National Railway (CNI) from 1995 to 2025
CapEx history table for Canadian National Railway (CNI) from 1995 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $3.66B | +3.0% | ||
| 2024 | $3.55B | +11.4% | ||
| 2023 | $3.19B | +15.9% | ||
| 2022 | $2.75B | -4.9% | ||
| 2021 | $2.89B | +1.0% | ||
| 2020 | $2.86B | -25.9% | ||
| 2019 | $3.87B | +9.5% | ||
| 2018 | $3.53B | +32.1% | ||
| 2017 | $2.67B | -0.8% | ||
| 2016 | $2.69B | -0.4% | ||
| 2015 | $2.71B | +17.8% | ||
| 2014 | $2.30B | +16.4% | ||
| 2013 | $1.97B | +14.0% | ||
| 2012 | $1.73B | +6.5% | ||
| 2011 | $1.63B | +2.5% | ||
| 2010 | $1.59B | +13.1% | ||
| 2009 | $1.40B | -1.5% | ||
| 2008 | $1.42B | +2.7% | ||
| 2007 | $1.39B | +6.9% | ||
| 2006 | $1.30B | +9.5% | ||
| 2005 | $1.19B | +10.6% | ||
| 2004 | $1.07B | +2.8% | ||
| 2003 | $1.04B | +11.2% | ||
| 2002 | $938.00M | -11.3% | ||
| 2001 | $1.06B | +10.4% | ||
| 2000 | $958.00M | +2.0% | ||
| 1999 | $939.01M | +27.2% | ||
| 1998 | $738.17M | +21.1% | ||
| 1997 | $609.61M | +22.9% | ||
| 1996 | $496.04M | +52.2% | ||
| 1995 | $326.00M | — |
CapEx values are taken from Canadian National Railway's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in CAD as filed.
Analysis
Canadian National Railway (CNI) most recent annual capital expenditures stands at $3.66B (2025) – edged up 3.0% year-over-year.
Across 2020–2025 (5 years), Canadian National Railway capital expenditures produced a CAGR of +5.0% – sustaining 3 straight years of year-over-year growth.
Canadian National Railway capital expenditures peaked at $3.87B in 2019; the latest annual figure is $3.66B in 2025 (5.4% below peak).
Across the available history, capital expenditures reached its high of $3.87B in 2019 and its low of $326.00M in 1995.
Among 8 Industrials peers, Canadian National Railway (CNI) ranks 3rd; the peer median for capital expenditures is $2.05B.
Canadian National Railway Capital Expenditures by Year
Canadian National Railway Capital Expenditures 2025: $3.66B
Canadian National Railway capital expenditures in 2025 was $3.66B, edged up 3.0% from 2024.
Canadian National Railway Capital Expenditures 2024: $3.55B
Canadian National Railway capital expenditures in 2024 was $3.55B, grew 11.4% from 2023.
Canadian National Railway Capital Expenditures 2023: $3.19B
Canadian National Railway capital expenditures in 2023 was $3.19B, grew 15.9% from 2022.
Canadian National Railway Capital Expenditures 2022: $2.75B
Canadian National Railway capital expenditures in 2022 was $2.75B, edged down 4.9% below 2021.
Canadian National Railway Capital Expenditures 2021: $2.89B
Canadian National Railway capital expenditures in 2021 was $2.89B.
See more financial history for Canadian National Railway (CNI).
Sector peers — CapEx
Companies in the same sector as Canadian National Railway, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Deere & Company (DE) | $4.23B | Industrials |
| Union Pacific Corporation (UNP) | $3.79B | Industrials |
| The Boeing Company (BA) | $2.94B | Industrials |
| RTX Corporation (RTX) | $2.63B | Industrials |
| Caterpillar Inc. (CAT) | $1.47B | Industrials |
| GE Aerospace (GE) | $1.27B | Industrials |
| Honeywell International Inc. (HON) | $986.00M | Industrials |
| Eaton Corporation plc (ETN) | $0 | Industrials |
Frequently asked questions
What is Canadian National Railway's capital expenditures?
- Latest reported capital expenditures for Canadian National Railway (CNI) is $3.66B (period ending December 31, 2025).
How has Canadian National Railway capital expenditures changed year-over-year?
- Canadian National Railway (CNI) capital expenditures changed +3.0% year-over-year on the latest annual filing.
What is the long-term growth rate of Canadian National Railway capital expenditures?
- Canadian National Railway (CNI) capital expenditures compound annual growth rate is +5.0% over the most recent 5 years available.
When did Canadian National Railway capital expenditures hit its highest annual value?
- Canadian National Railway capital expenditures reached its highest annual value of $3.87B in 2019.
What was Canadian National Railway capital expenditures in 2024?
- Canadian National Railway (CNI) capital expenditures in 2024 was $3.55B.
What was Canadian National Railway capital expenditures in 2025?
- Canadian National Railway (CNI) capital expenditures in 2025 was $3.66B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
Explore more
CNI Overview
Company profile, financial tools, and key metrics
CNI Revenue Counter
Earns 548.78 CAD every second. See per minute, hour, and day.
CNI Earnings Counter
Earns 149.64 CAD per second net profit. See per minute, hour, and day.
CNI What If Invested
What if you had invested $1,000? See historical returns from any date.
CNI How It Makes Money
Discover visual breakdown of 17.31B CAD in revenue — where it comes from and where it goes.
CNI Stock Seasonality
Best and worst months to invest. Historical monthly returns heatmap.
CNI Price Target Scenarios
Model bear, base, and bull cases with EPS growth and exit P/E — pre-filled from analysts and history.
CNI Daily Price Character
Steady · 50.6% historical win rate (green days). Streaks & record days.
CNI Buybacks
2.53% TTM buyback yield. Shareholder yield & SBC comparison.
CNI Stock Split History
4 splits on record. Dates, ratios, and cumulative multiple.
CNI Dividend Profile
Yield: 2.41%. Safety: 6/8. See full history.
CNI Dividend Calculator
How much dividend income would $1,000 have earned? Calculate from any date.
CNI Dividend Forecast
Project future income with DRIP, growth assumptions, and optional monthly contributions.