How does Norfolk Southern (NSC) make money?

Norfolk Southern (NSC) primarily makes money through Railway Operating Revenues Market Group Merchandise, which accounts for 63.2% of total revenue. For TTM through Q1 2026, Norfolk Southern generated $12.19B in total revenue with a net profit margin of 21.9%.

What is Norfolk Southern (NSC) gross profit margin?

Norfolk Southern (NSC) reported a gross profit margin of 45.3% for TTM through Q1 2026, equivalent to $5.52B in gross profit. This means Norfolk Southern retains 45.3% of each revenue unit after direct costs of production.

What is Norfolk Southern (NSC) operating profit margin?

Norfolk Southern (NSC) reported an operating profit margin of 32.4% for TTM through Q1 2026, equivalent to $3.95B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Norfolk Southern (NSC) net profit margin?

Norfolk Southern (NSC) reported a net profit margin of 21.9% for TTM through Q1 2026, equivalent to $2.67B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Norfolk Southern (NSC) spend on capital expenditures?

Norfolk Southern (NSC) spent $449.00M on capital expenditures in TTM through Q1 2026 (3.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Norfolk Southern (NSC) free cash flow?

Norfolk Southern (NSC) generated $4.20B in free cash flow for TTM through Q1 2026 (34.5% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is Norfolk Southern (NSC) effective tax rate?

Norfolk Southern (NSC) had an effective tax rate of 21.5% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

How Norfolk Southern (NSC) Makes Money: A Visual Guide

Norfolk Southern (NSC) generated $12.19B in revenue, earning $2.67B in net profit (21.9% margin). Its largest revenue source is Railway Operating Revenues Market Group Merchandise (63.2% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

Norfolk Southern (NSC) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 24, 2026).

Frequently asked questions

How does Norfolk Southern (NSC) make money?: Norfolk Southern (NSC) primarily makes money through Railway Operating Revenues Market Group Merchandise, which accounts for 63.2% of total revenue. For TTM through Q1 2026, Norfolk Southern generated $12.19B in total revenue with a net profit margin of 21.9%.
What is Norfolk Southern (NSC) gross profit margin?: Norfolk Southern (NSC) reported a gross profit margin of 45.3% for TTM through Q1 2026, equivalent to $5.52B in gross profit. This means Norfolk Southern retains 45.3% of each revenue unit after direct costs of production.
What is Norfolk Southern (NSC) operating profit margin?: Norfolk Southern (NSC) reported an operating profit margin of 32.4% for TTM through Q1 2026, equivalent to $3.95B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Norfolk Southern (NSC) net profit margin?: Norfolk Southern (NSC) reported a net profit margin of 21.9% for TTM through Q1 2026, equivalent to $2.67B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Norfolk Southern (NSC) spend on capital expenditures?: Norfolk Southern (NSC) spent $449.00M on capital expenditures in TTM through Q1 2026 (3.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Norfolk Southern (NSC) free cash flow?: Norfolk Southern (NSC) generated $4.20B in free cash flow for TTM through Q1 2026 (34.5% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Norfolk Southern (NSC) effective tax rate?: Norfolk Southern (NSC) had an effective tax rate of 21.5% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q1 2026.