Operating Income for Canadian National Railway (CNI)
According to Canadian National Railway's latest reported financial statements, the company's current operating income (TTM) is $6.59B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
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TTM (last 4 quarters)
$6.59B
YoY change
+5.4%
5Y CAGR
+6.6%
Peak year (2022)
$6.84B
Cumulative operating income
$110.32B
Operating Income history chart for Canadian National Railway (CNI) from 1995 to 2025
Operating Income history table for Canadian National Railway (CNI) from 1995 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $6.58B | +5.4% | ||
| 2024 | $6.25B | -5.3% | ||
| 2023 | $6.60B | -3.6% | ||
| 2022 | $6.84B | +21.8% | ||
| 2021 | $5.62B | +17.6% | ||
| 2020 | $4.78B | -14.6% | ||
| 2019 | $5.59B | +1.8% | ||
| 2018 | $5.49B | +4.8% | ||
| 2017 | $5.24B | +4.2% | ||
| 2016 | $5.03B | -4.4% | ||
| 2015 | $5.27B | +13.9% | ||
| 2014 | $4.62B | +19.4% | ||
| 2013 | $3.87B | +5.1% | ||
| 2012 | $3.69B | +11.8% | ||
| 2011 | $3.30B | +9.0% | ||
| 2010 | $3.02B | +25.7% | ||
| 2009 | $2.41B | -16.9% | ||
| 2008 | $2.89B | +0.6% | ||
| 2007 | $2.88B | -5.1% | ||
| 2006 | $3.03B | +15.5% | ||
| 2005 | $2.62B | +21.0% | ||
| 2004 | $2.17B | +22.0% | ||
| 2003 | $1.78B | +21.0% | ||
| 2002 | $1.47B | -12.7% | ||
| 2001 | $1.68B | +2.1% | ||
| 2000 | $1.65B | +12.3% | ||
| 1999 | $1.47B | +1.8% | ||
| 1998 | $1.44B | +10.8% | ||
| 1997 | $1.30B | +39.8% | ||
| 1996 | $930.40M | +12.9% | ||
| 1995 | $824.00M | — |
Operating Income values are taken from Canadian National Railway's reported income 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
In 2025, Canadian National Railway (CNI) operating income totalled $6.58B – grew 5.4% year-over-year.
Across 2020–2025 (5 years), Canadian National Railway operating income produced a CAGR of +6.6% – with the latest reading among the more recent periods of the dataset.
Between 2022 and 2025, Canadian National Railway operating income edged down 3.8%, falling from $6.84B to $6.58B.
The highest annual operating income of $6.84B was reported in 2022. The lowest in the available history was $824.00M in 1995.
Canadian National Railway (CNI) sits 6th of 8 Industrials peers we track on this metric, against a peer median of $8.59B.
Canadian National Railway Operating Income by Year
Canadian National Railway Operating Income 2025: $6.58B
Canadian National Railway operating income in 2025 was $6.58B, grew 5.4% from 2024.
Canadian National Railway Operating Income 2024: $6.25B
Canadian National Railway operating income in 2024 was $6.25B, declined 5.3% below 2023.
Canadian National Railway Operating Income 2023: $6.60B
Canadian National Railway operating income in 2023 was $6.60B, edged down 3.6% below 2022.
Canadian National Railway Operating Income 2022: $6.84B
Canadian National Railway operating income in 2022 was $6.84B, grew 21.8% from 2021. This figure represents the highest annual value in the available history.
Canadian National Railway Operating Income 2021: $5.62B
Canadian National Railway operating income in 2021 was $5.62B.
See more financial history for Canadian National Railway (CNI).
Sector peers — Operating Income
Companies in the same sector as Canadian National Railway, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $11.21B | Industrials |
| Union Pacific Corporation (UNP) | $9.84B | Industrials |
| RTX Corporation (RTX) | $8.89B | Industrials |
| GE Aerospace (GE) | $8.77B | Industrials |
| Deere & Company (DE) | $8.42B | Industrials |
| Honeywell International Inc. (HON) | $6.57B | Industrials |
| Eaton Corporation plc (ETN) | $5.23B | Industrials |
| The Boeing Company (BA) | -$5.42B | Industrials |
Frequently asked questions
What is Canadian National Railway's operating income?
- Latest reported operating income for Canadian National Railway (CNI) is $6.59B (period ending December 31, 2025).
How has Canadian National Railway operating income changed year-over-year?
- Canadian National Railway (CNI) operating income changed +5.4% year-over-year on the latest annual filing.
What is the long-term growth rate of Canadian National Railway operating income?
- Canadian National Railway (CNI) operating income compound annual growth rate is +6.6% over the most recent 5 years available.
When did Canadian National Railway operating income hit its highest annual value?
- Canadian National Railway operating income reached its highest annual value of $6.84B in 2022.
What was Canadian National Railway operating income in 2024?
- Canadian National Railway (CNI) operating income in 2024 was $6.25B.
What was Canadian National Railway operating income in 2025?
- Canadian National Railway (CNI) operating income in 2025 was $6.58B.
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