Norfolk Southern Corporation
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.18B | $12.12B | $12.16B | $12.75B | $11.14B | $9.79B | $11.30B | $11.46B |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $4.36B | $4.07B | $2.85B | $4.81B | $4.45B | $3.00B | $3.99B | $3.96B |
| Operating Margin | 35.8% | 33.6% | 23.5% | 37.7% | 39.9% | 30.7% | 35.3% | 34.6% |
| Interest Expense | — | $807.0M | $722.0M | $692.0M | $646.0M | $625.0M | $604.0M | $557.0M |
| Pretax Income | $3.67B | $3.33B | $2.32B | $4.13B | $3.88B | $2.53B | $3.49B | $3.47B |
| Income Tax Expense | $792.0M | $707.0M | $493.0M | $860.0M | $873.0M | $517.0M | $769.0M | $803.0M |
| Net Income | $2.87B | $2.62B | $1.83B | $3.27B | $3.01B | $2.01B | $2.72B | $2.67B |
| Net Margin | 23.6% | 21.6% | 15.0% | 25.7% | 27.0% | 20.6% | 24.1% | 23.3% |
| EPS (Basic) | $12.76 | $11.58 | $8.04 | $13.92 | $12.16 | $7.88 | $10.32 | $9.58 |
| EPS (Diluted) | $12.75 | $11.57 | $8.02 | $13.88 | $12.11 | $7.84 | $10.25 | $9.51 |
| Shares Outstanding (Basic) | 225.0M | 226.1M | 226.9M | 234.8M | 246.9M | 255.1M | 263.3M | 277.7M |
| Shares Outstanding (Diluted) | 225.3M | 226.4M | 227.4M | 235.6M | 248.1M | 256.6M | 265.6M | 280.2M |
| Dividends Per Share | $5.40 | $5.40 | $5.40 | $4.96 | $4.16 | $3.76 | $3.60 | $3.04 |