Question 1

What is Norfolk Southern's P/S ratio?

Accepted Answer

Norfolk Southern (NSC) P/S ratio is 6.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Norfolk Southern?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Norfolk Southern specifically, the relevant sector benchmark is the current sector median of 3.1×.

Question 5

Is Norfolk Southern's P/S ratio high or low?

Accepted Answer

Norfolk Southern's P/S ratio of 6.1× is above its own 5-year average of 4.8× and above the sector median of 3.1×. That places the current reading at the 91th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Norfolk Southern's historical P/S ratio range?

Accepted Answer

In the available daily series, Norfolk Southern (NSC) P/S ratio has ranged from a low of 1.1× in 2003 to a high of 6.9× in 2021. The 5-year average is 4.8× and the 5-year median is 4.6×.

Question 7

What was Norfolk Southern's P/S ratio in 2025?

Accepted Answer

Norfolk Southern (NSC) P/S ratio at the end of 2025 was 5.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Norfolk Southern's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$64.9B	$12.2B	5.3×	+0.9×	Dec 31, 2025
2024	$53.1B	$12.1B	4.4×	-0.0×	Dec 31, 2024
2023	$53.3B	$12.2B	4.4×	-0.1×	Dec 31, 2023
2022	$56.7B	$12.7B	4.4×	-2.0×	Dec 31, 2022
2021	$71.5B	$11.1B	6.4×	+0.3×	Dec 31, 2021
2020	$59.9B	$9.79B	6.1×	+1.7×	Dec 31, 2020
2019	$50.1B	$11.3B	4.4×	+0.9×	Dec 31, 2019
2018	$40.1B	$11.5B	3.5×	-0.4×	Dec 31, 2018
2017	$41.3B	$10.6B	3.9×	+0.7×	Dec 31, 2017
2016	$31.5B	$9.89B	3.2×	+0.8×	Dec 31, 2016
2015	$25.2B	$10.5B	2.4×	-0.5×	Dec 31, 2015
2014	$33.9B	$11.6B	2.9×	+0.4×	Dec 31, 2014
2013	$28.7B	$11.2B	2.5×	+0.8×	Dec 31, 2013
2012	$19.5B	$11B	1.8×	-0.4×	Dec 31, 2012
2011	$23.9B	$11.2B	2.1×	-0.2×	Dec 31, 2011
2010	$22.3B	$9.52B	2.3×	-0.1×	Dec 31, 2010
2009	$19.3B	$7.97B	2.4×	+0.8×	Dec 31, 2009
2008	$17.2B	$10.7B	1.6×	-0.4×	Dec 31, 2008
2007	$19.1B	$9.43B	2.0×	-0.1×	Dec 31, 2007
2006	$19.9B	$9.41B	2.1×	-0.0×	Dec 31, 2006
2005	$18.3B	$8.53B	2.1×	+0.2×	Dec 31, 2005
2004	$14.5B	$7.31B	2.0×	+0.5×	Dec 31, 2004
2003	$9.31B	$6.47B	1.4×	+0.2×	Dec 31, 2003
2002	$7.74B	$6.27B	1.2×	—	Dec 31, 2002


Franklin Electric Co. (FELE)	1.9×
Lockheed Martin (LMT)	1.8×
Upwork (UPWK)	1.8×
Boeing (BA)	1.8×
General Dynamics (GD)	1.8×
Expeditors International (EXPD)	1.7×
Northrop Grumman (NOC)	1.7×
Masco (MAS)	1.6×
Pool (POOL)	1.4×
C.H. Robinson Worldwide (CHRW)	1.2×
Alamo Group (ALG)	1.2×
Huntington Ingalls Industries (HII)	1.2×
Jacobs Solutions (J)	1.1×
Textron (TXT)	1.0×
Tennant (TNC)	1.0×
United Parcel Service (UPS)	0.9×
Delta Air Lines (DAL)	0.9×
FedEx (FDX)	0.9×
AGCO (AGCO)	0.8×
United Airlines Holdings (UAL)	0.7×
Stanley Black & Decker (SWK)	0.7×
Matthews International (MATW)	0.7×
Amentum Holdings (AMTM)	0.5×
ABM Industries (ABM)	0.3×
Andersons (ANDE)	0.2×

P/S Ratio for Norfolk Southern (NSC) 2002-2026

P/S Ratio daily chart for Norfolk Southern (NSC)

Historical P/S Ratio for Norfolk Southern (NSC) from 2002 to 2025

About P/S Ratio at Norfolk Southern (NSC)

Norfolk Southern P/S Ratio by Year

Norfolk Southern P/S Ratio 2025: 5.3×

Norfolk Southern P/S Ratio 2024: 4.4×

Norfolk Southern P/S Ratio 2023: 4.4×

Norfolk Southern P/S Ratio 2022: 4.4×

Norfolk Southern P/S Ratio 2021: 6.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Norfolk Southern (NSC) Key Financials