Canadian National Railway annual operating margin
2022
2023
2024
2025
Canadian National Railway Operating Margin Growth & History (CNI)
Canadian National Railway's operating margin was 38.07% for fiscal 2025.
View full Canadian National Railway company overviewCanadian National Railway annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 38.07% | +0.96 pp |
| 2024 | 2024-12-31 | 37.11% | −2.10 pp |
| 2023 | 2023-12-31 | 39.20% | −0.78 pp |
| 2022 | 2022-12-31 | 39.98% | — |
Canadian National Railway quarterly operating margin
Q2.09
Q3.09
Q2.09
Q3.09
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 37.47% | −0.87 pp |
| Q1 2026 | 2026-03-31 | 35.37% | — |
| Q4 2025 | 2025-12-31 | 38.82% | — |
| Q3 2025 | 2025-09-30 | 38.56% | — |
| Q2 2025 | 2025-06-30 | 38.34% | — |
| Q3 2009 · Sep 30 | 2009-09-30 | 37.34% | −0.05 pp |
| Q2 2009 · Jun 30 | 2009-06-30 | 32.73% | −0.96 pp |
| Q3 2009 · Sep 30 | 2008-09-30 | 37.39% | — |
| Q2 2009 · Jun 30 | 2008-06-30 | 33.70% | — |
Canadian National Railway operating margin trends
Between the periods ended 2022-12-31 and 2025-12-31, Canadian National Railway's operating margin decreased from 39.98% to 38.07%, a change of −1.92 percentage points. The latest reported quarter, Q2 2026, shows 37.47%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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