Question 1

What is Norfolk Southern's P/S ratio?

Accepted Answer

Norfolk Southern (NSC) P/S ratio is 5.8× as of June 5, 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 5.8× 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 82th 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 7.1× 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	$64.90B	$12.18B	5.3×	+0.9×	Dec 31, 2025
2024	$53.09B	$12.12B	4.4×	-0.0×	Dec 31, 2024
2023	$53.35B	$12.16B	4.4×	-0.1×	Dec 31, 2023
2022	$56.65B	$12.74B	4.4×	-2.0×	Dec 31, 2022
2021	$71.50B	$11.14B	6.4×	+0.3×	Dec 31, 2021
2020	$59.90B	$9.79B	6.1×	+1.7×	Dec 31, 2020
2019	$50.07B	$11.30B	4.4×	+0.9×	Dec 31, 2019
2018	$40.09B	$11.46B	3.5×	-0.4×	Dec 31, 2018
2017	$41.31B	$10.55B	3.9×	+0.7×	Dec 31, 2017
2016	$31.47B	$9.89B	3.2×	+0.8×	Dec 31, 2016
2015	$25.20B	$10.51B	2.4×	-0.5×	Dec 31, 2015
2014	$33.87B	$11.62B	2.9×	+0.4×	Dec 31, 2014
2013	$28.66B	$11.24B	2.5×	+0.8×	Dec 31, 2013
2012	$19.47B	$11.04B	1.8×	-0.4×	Dec 31, 2012
2011	$23.92B	$11.17B	2.1×	-0.2×	Dec 31, 2011
2010	$22.31B	$9.52B	2.3×	-0.1×	Dec 31, 2010
2009	$19.29B	$7.97B	2.4×	+0.8×	Dec 31, 2009
2008	$17.22B	$10.66B	1.6×	-0.4×	Dec 31, 2008
2007	$19.06B	$9.43B	2.0×	-0.1×	Dec 31, 2007
2006	$19.91B	$9.41B	2.1×	-0.0×	Dec 31, 2006
2005	$18.25B	$8.53B	2.1×	+0.2×	Dec 31, 2005
2004	$14.51B	$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×	+0.1×	Dec 31, 2002
2001	$7.01B	$6.17B	1.1×	—	Dec 31, 2001


Boeing (BA)	1.8×
General Dynamics (GD)	1.8×
Expeditors International (EXPD)	1.7×
Gartner (IT)	1.7×
J.B. Hunt Transport Services (JBHT)	1.7×
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×
FedEx (FDX)	0.8×
AGCO (AGCO)	0.8×
Versant Media Group, Inc. Class A (VSNT)	0.8×
Stanley Black & Decker (SWK)	0.7×
Matthews International (MATW)	0.7×
Delta Air Lines (DAL)	0.7×
Southwest Airlines (LUV)	0.6×
Builders FirstSource (BLDR)	0.6×
United Airlines Holdings (UAL)	0.5×
Amentum Holdings (AMTM)	0.5×
Alaska Air Group (ALK)	0.3×
ABM Industries (ABM)	0.3×

P/S Ratio for Norfolk Southern (NSC)

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

Historical P/S Ratio for Norfolk Southern (NSC) from 2001 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

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

Historical P/S Ratio for Norfolk Southern (NSC) from 2001 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

+What is Norfolk Southern's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

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

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

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

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

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

Norfolk Southern (NSC) Key Financials