Canadian National Railway annual free cash flow
2022
2023
2024
2025
Canadian National Railway Free Cash Flow (FCF) History (CNI)
Canadian National Railway reported $3.39B in free cash flow for fiscal 2025, an increase of 7.65% from the previous fiscal year, with a free cash flow margin of 19.60%.
View full Canadian National Railway company overviewCanadian National Railway free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $3.39B | $241.0M | +7.65% | +19.60% |
| 2024 | 2024-12-31 | $3.15B | −$628.0M | −16.62% | +18.48% |
| 2023 | 2023-12-31 | $3.78B | −$139.0M | −3.55% | +22.45% |
| 2022 | 2022-12-31 | $3.92B | — | — | +22.90% |
Canadian National Railway quarterly free cash flow
Q2.09
Q3.09
Q2.09
Q3.09
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $916.0M | −$24.0M | −2.55% | +19.27% |
| Q1 2026 | 2026-03-31 | $826.0M | — | — | +18.86% |
| Q4 2025 | 2025-12-31 | $998.0M | — | — | +22.36% |
| Q3 2025 | 2025-09-30 | $808.0M | — | — | +19.40% |
| Q2 2025 | 2025-06-30 | $940.0M | — | — | +22.00% |
| Q3 2009 · Sep 30 | 2009-09-30 | $308.0M | −$234.0M | −43.17% | +16.69% |
| Q2 2009 · Jun 30 | 2009-06-30 | $323.0M | $266.0M | +466.67% | +18.14% |
| Q3 2009 · Sep 30 | 2008-09-30 | $542.0M | — | — | +24.01% |
| Q2 2009 · Jun 30 | 2008-06-30 | $57.0M | — | — | +2.72% |
Canadian National Railway free cash flow growth trends
Canadian National Railway's latest reported quarter, Q2 2026, generated $916.0M in free cash flow, a decrease of 2.55% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Canadian National Railway source filings ↗