How Canadian National Railway (CNI) Makes Money: A Visual Guide

Canadian National Railway (CNI) generated 17.31B CAD in revenue (TTM through Q4 2025), earning 4.72B CAD in net profit (27.3% margin). Below is an interactive breakdown of how revenue flows through the income statement.

Canadian National Railway (CNI) Income Statement Flow

Frequently asked questions

How much revenue does Canadian National Railway (CNI) generate?

Canadian National Railway (CNI) generated 17.31B CAD in total revenue for TTM through Q4 2025 with a net profit margin of 27.3%.

What is Canadian National Railway (CNI) gross profit margin?

Canadian National Railway (CNI) reported a gross profit margin of 43.6% for TTM through Q4 2025, equivalent to 7.54B CAD in gross profit. This means Canadian National Railway retains 43.6% of each revenue unit after direct costs of production.

What is Canadian National Railway (CNI) operating profit margin?

Canadian National Railway (CNI) reported an operating profit margin of 38.1% for TTM through Q4 2025, equivalent to 6.59B CAD in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Canadian National Railway (CNI) net profit margin?

Canadian National Railway (CNI) reported a net profit margin of 27.3% for TTM through Q4 2025, equivalent to 4.72B CAD in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Canadian National Railway (CNI) spend on capital expenditures?

Canadian National Railway (CNI) spent 3.66B CAD on capital expenditures in TTM through Q4 2025 (21.1% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Canadian National Railway (CNI) free cash flow?

Canadian National Railway (CNI) generated 3.39B CAD in free cash flow for TTM through Q4 2025 (19.6% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is Canadian National Railway (CNI) effective tax rate?

Canadian National Railway (CNI) had an effective tax rate of 24.6% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?

A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.

How is the data calculated?

We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.

When was this data last updated?

Based on company filings through TTM through Q4 2025.