Capital Expenditures for Norfolk Southern (NSC)
According to Norfolk Southern's latest reported financial statements, the company's current capital expenditures (TTM) is $2.88B 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
$2.88B
YoY change
-7.4%
5Y CAGR
+8.1%
Peak year (2015)
$2.38B
Cumulative capital expenditures
$50.27B
CapEx history chart for Norfolk Southern (NSC) from 1989 to 2025
CapEx history table for Norfolk Southern (NSC) from 1989 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $2.20B | -7.4% | ||
| 2024 | $2.38B | +1.4% | ||
| 2023 | $2.35B | +20.6% | ||
| 2022 | $1.95B | +32.5% | ||
| 2021 | $1.47B | -1.6% | ||
| 2020 | $1.49B | -26.0% | ||
| 2019 | $2.02B | +3.5% | ||
| 2018 | $1.95B | +13.2% | ||
| 2017 | $1.72B | -8.7% | ||
| 2016 | $1.89B | -20.9% | ||
| 2015 | $2.38B | +12.6% | ||
| 2014 | $2.12B | +7.5% | ||
| 2013 | $1.97B | -12.0% | ||
| 2012 | $2.24B | +3.8% | ||
| 2011 | $2.16B | +46.9% | ||
| 2010 | $1.47B | +13.2% | ||
| 2009 | $1.30B | -16.6% | ||
| 2008 | $1.56B | +16.2% | ||
| 2007 | $1.34B | +13.8% | ||
| 2006 | $1.18B | +14.9% | ||
| 2005 | $1.02B | -1.5% | ||
| 2004 | $1.04B | +44.6% | ||
| 2003 | $720.00M | +4.5% | ||
| 2002 | $689.00M | -7.6% | ||
| 2001 | $746.00M | +2.1% | ||
| 2000 | $731.00M | -19.8% | ||
| 1999 | $912.00M | -4.6% | ||
| 1998 | $956.00M | +9.3% | ||
| 1997 | $875.00M | +27.1% | ||
| 1996 | $688.20M | +4.4% | ||
| 1995 | $658.90M | -7.6% | ||
| 1994 | $712.90M | +6.5% | ||
| 1993 | $669.20M | -6.5% | ||
| 1992 | $716.10M | +8.6% | ||
| 1991 | $659.40M | -1.5% | ||
| 1990 | $669.70M | +2.8% | ||
| 1989 | $651.60M | — |
CapEx values are taken from Norfolk Southern'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 USD as filed.
Analysis
As of the 2025 fiscal year, Norfolk Southern (NSC) reported capital expenditures of $2.20B – declined 7.4% year-over-year.
Across 2020–2025 (5 years), Norfolk Southern capital expenditures produced a CAGR of +8.1% – with the latest reading among the more recent periods of the dataset.
Norfolk Southern capital expenditures peaked at $2.38B in 2015; the latest annual figure is $2.20B in 2025 (7.6% below peak).
Across the available history, capital expenditures reached its high of $2.38B in 2015 and its low of $651.60M in 1989.
Norfolk Southern (NSC) sits 5th of 8 Industrials peers we track on this metric, against a peer median of $2.05B.
Norfolk Southern Capital Expenditures by Year
Norfolk Southern Capital Expenditures 2025: $2.20B
Norfolk Southern capital expenditures in 2025 was $2.20B, declined 7.4% below 2024.
Norfolk Southern Capital Expenditures 2024: $2.38B
Norfolk Southern capital expenditures in 2024 was $2.38B, edged up 1.4% from 2023.
Norfolk Southern Capital Expenditures 2023: $2.35B
Norfolk Southern capital expenditures in 2023 was $2.35B, grew 20.6% from 2022.
Norfolk Southern Capital Expenditures 2022: $1.95B
Norfolk Southern capital expenditures in 2022 was $1.95B, surged 32.5% from 2021.
Norfolk Southern Capital Expenditures 2021: $1.47B
Norfolk Southern capital expenditures in 2021 was $1.47B.
See more financial history for Norfolk Southern (NSC).
Sector peers — CapEx
Companies in the same sector as Norfolk Southern, 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 Norfolk Southern's capital expenditures?
- Latest reported capital expenditures for Norfolk Southern (NSC) is $2.88B (period ending March 31, 2026).
How has Norfolk Southern capital expenditures changed year-over-year?
- Norfolk Southern (NSC) capital expenditures changed -7.4% year-over-year on the latest annual filing.
What is the long-term growth rate of Norfolk Southern capital expenditures?
- Norfolk Southern (NSC) capital expenditures compound annual growth rate is +8.1% over the most recent 5 years available.
When did Norfolk Southern capital expenditures hit its highest annual value?
- Norfolk Southern capital expenditures reached its highest annual value of $2.38B in 2015.
What was Norfolk Southern capital expenditures in 2024?
- Norfolk Southern (NSC) capital expenditures in 2024 was $2.38B.
What was Norfolk Southern capital expenditures in 2025?
- Norfolk Southern (NSC) capital expenditures in 2025 was $2.20B.
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