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FCF Margin for Norfolk Southern (NSC)

As of · Reported

Metric

TTM

31.4%

YoY change

+3.93pp

Trough year (1999)

-7.3%

Peak year (2021)

25.0%

FCF Margin history chart for Norfolk Southern (NSC) from 1989 to 2025

Latest: 17.7%

FCF Margin change chart for Norfolk Southern (NSC) from 1989 to 2025

Latest: +3.93pp

FCF Margin history table for Norfolk Southern (NSC) from 1989 to 2025

  • 202517.7%+3.93pp
  • 202413.8%+6.96pp
  • 20236.8%-11.01pp
  • 202217.8%-7.15pp
  • 202125.0%+3.10pp
  • 202021.9%+5.31pp
  • 201916.6%+1.09pp
  • 201815.5%+0.99pp
  • 201714.5%+2.90pp
  • 201611.6%+6.92pp
  • 20154.7%-1.63pp
  • 20146.3%-3.53pp
  • 20139.8%+2.38pp
  • 20127.5%-2.09pp
  • 20119.6%-3.52pp
  • 201013.1%+6.03pp
  • 20097.0%-3.81pp
  • 200810.9%+0.34pp
  • 200710.5%-0.41pp
  • 200610.9%-1.74pp
  • 200512.7%+4.19pp
  • 20048.5%+3.32pp
  • 20035.2%+3.35pp
  • 20021.8%+3.31pp
  • 2001-1.5%-11.41pp
  • 20009.9%+17.22pp
  • 1999-7.3%-5.73pp
  • 1998-1.6%-8.08pp
  • 19976.5%-4.32pp
  • 199610.8%-1.56pp
  • 199512.4%+2.98pp
  • 19949.4%+4.81pp
  • 19934.6%-0.65pp
  • 19925.3%+2.94pp
  • 19912.3%-4.73pp
  • 19907.0%-3.00pp
  • 198910.0%—

FCF Margin values are taken from Norfolk Southern's reported income statements (quarterly 10-Q and annual 10-K 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 USD as filed.

About FCF Margin at Norfolk Southern (NSC)

According to Norfolk Southern's latest reported financial statements, the company's latest reported free cash flow margin is 31.4%. 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 .

As of the 2025 fiscal year, Norfolk Southern (NSC) reported free cash flow margin of 17.71% – expanded 3.9 percentage points year-over-year.

2021 marks the peak free cash flow margin at 25.00%, with the historical low of -7.30% recorded in 1999.

Norfolk Southern FCF Margin by Year

Norfolk Southern FCF Margin 2025: 17.7%

Norfolk Southern posted free cash flow margin of 17.71% in 2025, expanded 3.9 percentage points from 2024.

Norfolk Southern FCF Margin 2024: 13.8%

In 2024, Norfolk Southern reported free cash flow margin of 13.78%, expanded 7.0 percentage points from 2023.

Norfolk Southern FCF Margin 2023: 6.8%

Norfolk Southern free cash flow margin in 2023 was 6.83%, contracted 11.0 percentage points from 2022.

Norfolk Southern FCF Margin 2022: 17.8%

2022's free cash flow margin for Norfolk Southern came in at 17.84%, contracted 7.2 percentage points from 2021.

Norfolk Southern FCF Margin 2021: 25.0%

Norfolk Southern free cash flow margin in 2021 was 25.00%.

See more financial history for Norfolk Southern (NSC).

Sector peers by FCF Margin

Industrials peers of Norfolk Southern (NSC), ranked by their latest free cash flow margin

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