Shares Outstanding for Norfolk Southern (NSC)
According to Norfolk Southern's latest reported financial statements, the company's latest reported diluted shares outstanding is 225.10M. Diluted weighted-average shares outstanding is the share count used to compute per-share metrics like EPS. Buybacks lower it; new issuance, stock-based compensation, and convertible securities raise it. Multiply by the stock price for market capitalization.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Currently viewingShares OutstandingSwitch metric
Latest period
225.10M
YoY change
-0.7%
5Y CAGR
-2.6%
Peak year (1987)
574.67M
Latest annual
224.80M
Shares Outstanding history chart for Norfolk Southern (NSC) from 1985 to 2025
Shares Outstanding history table for Norfolk Southern (NSC) from 1985 to 2025
| Fiscal year | Period ended | Reported | Shares Outstanding | YoY |
|---|---|---|---|---|
| 2025 | 224.80M | -0.7% | ||
| 2024 | 226.40M | -0.4% | ||
| 2023 | 227.40M | -3.5% | ||
| 2022 | 235.60M | -5.0% | ||
| 2021 | 248.10M | -3.3% | ||
| 2020 | 256.60M | -3.4% | ||
| 2019 | 265.60M | -5.2% | ||
| 2018 | 280.20M | -3.5% | ||
| 2017 | 290.30M | -1.9% | ||
| 2016 | 296.00M | -2.8% | ||
| 2015 | 304.40M | -2.6% | ||
| 2014 | 312.50M | -1.0% | ||
| 2013 | 315.50M | -3.0% | ||
| 2012 | 325.20M | -7.4% | ||
| 2011 | 351.30M | -5.5% | ||
| 2010 | 371.80M | -0.1% | ||
| 2009 | 372.10M | -2.1% | ||
| 2008 | 380.00M | -4.5% | ||
| 2007 | 397.80M | -4.1% | ||
| 2006 | 414.85M | +0.7% | ||
| 2005 | 411.90M | +3.1% | ||
| 2004 | 399.57M | +2.3% | ||
| 2003 | 390.51M | +0.2% | ||
| 2002 | 389.83M | +0.8% | ||
| 2001 | 386.60M | +1.1% | ||
| 2000 | 382.22M | +0.8% | ||
| 1999 | 379.37M | -0.2% | ||
| 1998 | 380.31M | +0.2% | ||
| 1997 | 379.47M | -0.9% | ||
| 1996 | 383.08M | -3.3% | ||
| 1995 | 396.11M | -3.1% | ||
| 1994 | 408.86M | -3.1% | ||
| 1993 | 421.86M | -1.7% | ||
| 1992 | 429.00M | +1.1% | ||
| 1991 | 424.29M | -11.5% | ||
| 1990 | 479.40M | -8.3% | ||
| 1989 | 522.59M | -4.6% | ||
| 1988 | 547.50M | -4.7% | ||
| 1987 | 574.67M | +0.8% | ||
| 1986 | 570.00M | +0.3% | ||
| 1985 | 568.41M | — |
Shares Outstanding values are taken from Norfolk Southern's reported income 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
2025's annual diluted shares outstanding for Norfolk Southern (NSC) came in at 224.80M – edged down 0.7% year-over-year.
Norfolk Southern diluted shares outstanding compound annual growth for the 2020–2025 (5 years) window is -2.6%, with a net decline across the window.
Norfolk Southern diluted shares outstanding plunged from 574.67M in 1987 to 224.80M in 2025, a 60.9% drawdown.
1987 marks the peak diluted shares outstanding at 574.67M, with the historical low of 224.80M recorded in 2025.
Within Industrials, Norfolk Southern (NSC) ranks 9th among 8 peers we track. The peer median for diluted shares outstanding is 618.15M.
Norfolk Southern Shares Outstanding by Year
Norfolk Southern Shares Outstanding 2025: 224.80M
Norfolk Southern diluted shares outstanding in 2025 was 224.80M, edged down 0.7% below 2024. This figure represents the lowest annual value in the available history.
Norfolk Southern Shares Outstanding 2024: 226.40M
Norfolk Southern diluted shares outstanding in 2024 was 226.40M, edged down 0.4% below 2023.
Norfolk Southern Shares Outstanding 2023: 227.40M
Norfolk Southern diluted shares outstanding in 2023 was 227.40M, edged down 3.5% below 2022.
Norfolk Southern Shares Outstanding 2022: 235.60M
Norfolk Southern diluted shares outstanding in 2022 was 235.60M, declined 5.0% below 2021.
Norfolk Southern Shares Outstanding 2021: 248.10M
Norfolk Southern diluted shares outstanding in 2021 was 248.10M.
See more financial history for Norfolk Southern (NSC).
Sector peers — Shares Outstanding
Companies in the same sector as Norfolk Southern, ranked by their latest diluted shares outstanding.
| Company | Shares Outstanding | Sector |
|---|---|---|
| RTX Corporation (RTX) | 1.36B | Industrials |
| GE Aerospace (GE) | 1.07B | Industrials |
| The Boeing Company (BA) | 762.30M | Industrials |
| Honeywell International Inc. (HON) | 642.80M | Industrials |
| Union Pacific Corporation (UNP) | 593.50M | Industrials |
| Caterpillar Inc. (CAT) | 469.00M | Industrials |
| Eaton Corporation plc (ETN) | 389.50M | Industrials |
| Deere & Company (DE) | 271.70M | Industrials |
Frequently asked questions
What is Norfolk Southern's diluted shares outstanding?
- Latest reported diluted shares outstanding for Norfolk Southern (NSC) is 225.10M (period ending March 31, 2026).
How has Norfolk Southern diluted shares outstanding changed year-over-year?
- Norfolk Southern (NSC) diluted shares outstanding changed -0.7% year-over-year on the latest annual filing.
What is the long-term growth rate of Norfolk Southern diluted shares outstanding?
- Norfolk Southern (NSC) diluted shares outstanding compound annual growth rate is -2.6% over the most recent 5 years available.
When did Norfolk Southern diluted shares outstanding hit its highest annual value?
- Norfolk Southern diluted shares outstanding reached its highest annual value of 574.67M in 1987.
What was Norfolk Southern diluted shares outstanding in 2024?
- Norfolk Southern (NSC) diluted shares outstanding in 2024 was 226.40M.
What was Norfolk Southern diluted shares outstanding in 2025?
- Norfolk Southern (NSC) diluted shares outstanding in 2025 was 224.80M.
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