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FCF Margin for Canadian National Railway (CNI)

As of · Reported

Metric

TTM

20.7%

YoY change

+1.12pp

Trough year (1995)

-4.9%

Peak year (2021)

28.2%

FCF Margin history chart for Canadian National Railway (CNI) from 1995 to 2025

Latest: 19.6%

FCF Margin change chart for Canadian National Railway (CNI) from 1995 to 2025

Latest: +1.12pp

FCF Margin history table for Canadian National Railway (CNI) from 1995 to 2025

  • 202519.6%+1.12pp
  • 202418.5%-3.97pp
  • 202322.5%-0.45pp
  • 202222.9%-5.29pp
  • 202128.2%+4.29pp
  • 202023.9%+10.10pp
  • 201913.8%-2.87pp
  • 201816.7%-5.13pp
  • 201721.8%+0.97pp
  • 201620.8%+1.53pp
  • 201519.3%+2.13pp
  • 201417.2%+2.28pp
  • 201314.9%+1.50pp
  • 201213.4%-1.57pp
  • 201115.0%-2.07pp
  • 201017.0%+5.13pp
  • 200911.9%+4.75pp
  • 20087.2%-5.89pp
  • 200713.0%-7.79pp
  • 200620.8%-0.15pp
  • 200521.0%+4.69pp
  • 200416.3%+0.44pp
  • 200315.9%+4.83pp
  • 200211.0%+1.07pp
  • 200110.0%-0.13pp
  • 200010.1%+3.54pp
  • 19996.6%-5.41pp
  • 199812.0%+5.21pp
  • 19976.8%-1.21pp
  • 19968.0%+12.82pp
  • 1995-4.9%—

FCF Margin values are taken from Canadian National Railway's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in CAD as filed.

About FCF Margin at Canadian National Railway (CNI)

According to Canadian National Railway's latest reported financial statements, the company's latest reported free cash flow margin is 20.7%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

The 2025 reading of Canadian National Railway (CNI) free cash flow margin is 19.60% – expanded 1.1 percentage points year-over-year.

28.18% stands as the all-time-high annual free cash flow margin, posted in 2021, against a low of -4.86% during 1995.

Canadian National Railway FCF Margin by Year

Canadian National Railway FCF Margin 2025: 19.6%

2025's free cash flow margin for Canadian National Railway came in at 19.60%, expanded 1.1 percentage points from 2024.

Canadian National Railway FCF Margin 2024: 18.5%

Canadian National Railway posted free cash flow margin of 18.48% in 2024, contracted 4.0 percentage points from 2023.

Canadian National Railway FCF Margin 2023: 22.5%

In 2023, Canadian National Railway reported free cash flow margin of 22.45%, contracted 0.4 percentage points from 2022.

Canadian National Railway FCF Margin 2022: 22.9%

Canadian National Railway free cash flow margin in 2022 was 22.90%, contracted 5.3 percentage points from 2021.

Canadian National Railway FCF Margin 2021: 28.2%

Canadian National Railway free cash flow margin in 2021 was 28.18%.

See more financial history for Canadian National Railway (CNI).

Sector peers by FCF Margin

Industrials peers of Canadian National Railway (CNI), ranked by their latest free cash flow margin

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