TTM
45.3%
YoY change
+11.38pp
Trough year (1991)
19.4%
Peak year (1998)
93.6%
Latest annual
42.4%
Gross Margin history chart for Norfolk Southern (NSC) from 1985 to 2025
Latest: 42.4%
Gross Margin change chart for Norfolk Southern (NSC) from 1985 to 2025
Latest: +11.38pp
Gross Margin history table for Norfolk Southern (NSC) from 1985 to 2025
| 2025 | 42.4% | +11.38pp | ||
| 2024 | 31.0% | +7.95pp | ||
| 2023 | 23.1% | -14.04pp | ||
| 2022 | 37.1% | -2.04pp | ||
| 2021 | 39.2% | +4.47pp | ||
| 2020 | 34.7% | +0.24pp | ||
| 2019 | 34.5% | -0.09pp | ||
| 2018 | 34.6% | +1.17pp | ||
| 2017 | 33.4% | +2.33pp | ||
| 2016 | 31.0% | +3.66pp | ||
| 2015 | 27.4% | -3.32pp | ||
| 2014 | 30.7% | +1.80pp | ||
| 2013 | 28.9% | +0.67pp | ||
| 2012 | 28.2% | -0.45pp | ||
| 2011 | 28.7% | +0.65pp | ||
| 2010 | 28.0% | +3.43pp | ||
| 2009 | 24.6% | -4.31pp | ||
| 2008 | 28.9% | +1.64pp | ||
| 2007 | 27.3% | +0.11pp | ||
| 2006 | 27.2% | -3.25pp | ||
| 2005 | 30.4% | +2.08pp | ||
| 2004 | 28.4% | -27.96pp | ||
| 2003 | 56.3% | -5.70pp | ||
| 2002 | 62.0% | +1.23pp | ||
| 2001 | 60.8% | +2.07pp | ||
| 2000 | 58.7% | -4.12pp | ||
| 1999 | 62.8% | -30.80pp | ||
| 1998 | 93.6% | +1.92pp | ||
| 1997 | 91.7% | +14.94pp | ||
| 1996 | 76.8% | -0.60pp | ||
| 1995 | 77.4% | +1.38pp | ||
| 1994 | 76.0% | +13.76pp | ||
| 1993 | 62.2% | +1.81pp | ||
| 1992 | 60.4% | +41.04pp | ||
| 1991 | 19.4% | -15.12pp | ||
| 1990 | 34.5% | -0.32pp | ||
| 1989 | 34.8% | -19.77pp | ||
| 1988 | 54.6% | +21.03pp | ||
| 1987 | 33.6% | -0.15pp | ||
| 1986 | 33.7% | -0.82pp | ||
| 1985 | 34.5% | — |
- 202542.4%+11.38pp
- 202431.0%+7.95pp
- 202323.1%-14.04pp
- 202237.1%-2.04pp
- 202139.2%+4.47pp
- 202034.7%+0.24pp
- 201934.5%-0.09pp
- 201834.6%+1.17pp
- 201733.4%+2.33pp
- 201631.0%+3.66pp
- 201527.4%-3.32pp
- 201430.7%+1.80pp
- 201328.9%+0.67pp
- 201228.2%-0.45pp
- 201128.7%+0.65pp
- 201028.0%+3.43pp
- 200924.6%-4.31pp
- 200828.9%+1.64pp
- 200727.3%+0.11pp
- 200627.2%-3.25pp
- 200530.4%+2.08pp
- 200428.4%-27.96pp
- 200356.3%-5.70pp
- 200262.0%+1.23pp
- 200160.8%+2.07pp
- 200058.7%-4.12pp
- 199962.8%-30.80pp
- 199893.6%+1.92pp
- 199791.7%+14.94pp
- 199676.8%-0.60pp
- 199577.4%+1.38pp
- 199476.0%+13.76pp
- 199362.2%+1.81pp
- 199260.4%+41.04pp
- 199119.4%-15.12pp
- 199034.5%-0.32pp
- 198934.8%-19.77pp
- 198854.6%+21.03pp
- 198733.6%-0.15pp
- 198633.7%-0.82pp
- 198534.5%—
Gross 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 Gross Margin at Norfolk Southern (NSC)
According to Norfolk Southern's latest reported financial statements, the company's latest reported gross margin is 45.3%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
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 Norfolk Southern (NSC) gross margin is 42.43% – expanded 11.4 percentage points year-over-year.
1998 marks the peak gross margin at 93.63%, with the historical low of 19.38% recorded in 1991.
Norfolk Southern Gross Margin by Year
Norfolk Southern Gross Margin 2025: 42.4%
2025's gross margin for Norfolk Southern came in at 42.43%, expanded 11.4 percentage points from 2024.
Norfolk Southern Gross Margin 2024: 31.0%
Norfolk Southern posted gross margin of 31.05% in 2024, expanded 7.9 percentage points from 2023.
Norfolk Southern Gross Margin 2023: 23.1%
In 2023, Norfolk Southern reported gross margin of 23.10%, contracted 14.0 percentage points from 2022.
Norfolk Southern Gross Margin 2022: 37.1%
Norfolk Southern gross margin in 2022 was 37.14%, contracted 2.0 percentage points from 2021.
Norfolk Southern Gross Margin 2021: 39.2%
Norfolk Southern gross margin in 2021 was 39.18%.
See more financial history for Norfolk Southern (NSC).
Sector peers by Gross Margin
Industrials peers of Norfolk Southern (NSC), ranked by their latest gross margin
| 45.7% | |
| 36.9% | |
| 36.9% | |
| 35.1% | |
| 34.8% | |
| 32.5% | |
| 20.2% | |
| 4.8% |
- 45.7%
- 35.1%
- 34.8%
- 32.5%
- 20.2%
- 4.8%
Frequently asked questions
Norfolk Southern (NSC) Key Financials
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