Norfolk Southern annual debt-to-assets ratio
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2025
Norfolk Southern Debt-to-Assets Ratio Growth & History (NSC)
Norfolk Southern's debt-to-assets ratio was 0.38 for fiscal 2025.
View full Norfolk Southern company overviewNorfolk Southern annual debt-to-assets ratio history
| Fiscal year | Period ended | Debt-to-assets ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.38 | −0.02 | −4.39% |
| 2024 | 2024-12-31 | 0.40 | −0.02 | −5.15% |
| 2023 | 2023-12-31 | 0.42 | 0.02 | +5.21% |
| 2022 | 2022-12-31 | 0.40 | 0.03 | +8.29% |
| 2021 | 2021-12-31 | 0.37 | 0.02 | +7.19% |
| 2020 | 2020-12-31 | 0.35 | 0.01 | +2.88% |
| 2019 | 2019-12-31 | 0.34 | 0.03 | +9.18% |
| 2018 | 2018-12-31 | 0.31 | 0.03 | +11.66% |
| 2017 | 2017-12-31 | 0.28 | −0.02 | −5.89% |
| 2016 | 2016-12-31 | 0.29 | −0.00 | −1.00% |
| 2015 | 2015-12-31 | 0.30 | 0.03 | +9.24% |
| 2014 | 2014-12-31 | 0.27 | −0.02 | −6.95% |
| 2013 | 2013-12-31 | 0.29 | 0.00 | +1.65% |
| 2012 | 2012-12-31 | 0.29 | 0.02 | +9.02% |
| 2011 | 2011-12-31 | 0.26 | 0.03 | +11.01% |
| 2010 | 2010-12-31 | 0.24 | −0.01 | −4.55% |
| 2009 | 2009-12-31 | 0.25 | 0.01 | +5.34% |
| 2008 | 2008-12-31 | 0.24 | — | — |
Norfolk Southern quarterly debt-to-assets ratio
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| Fiscal quarter | Period ended | Debt-to-assets ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.35 | −0.02 | −5.10% |
| Q1 2026 | 2026-03-31 | 0.37 | −0.01 | −3.89% |
| Q4 2025 | 2025-12-31 | 0.38 | −0.02 | −4.39% |
| Q3 2025 | 2025-09-30 | 0.37 | −0.02 | −3.95% |
| Q2 2025 | 2025-06-30 | 0.37 | −0.03 | −8.47% |
| Q1 2025 | 2025-03-31 | 0.38 | −0.04 | −8.85% |
| Q4 2024 | 2024-12-31 | 0.40 | −0.02 | −5.15% |
| Q3 2024 | 2024-09-30 | 0.38 | −0.01 | −3.11% |
| Q2 2024 | 2024-06-30 | 0.41 | 0.03 | +8.62% |
| Q1 2024 | 2024-03-31 | 0.42 | 0.04 | +12.06% |
| Q4 2023 | 2023-12-31 | 0.42 | 0.02 | +5.21% |
| Q3 2023 | 2023-09-30 | 0.40 | 0.03 | +7.93% |
| Q2 2023 | 2023-06-30 | 0.38 | 0.01 | +2.10% |
| Q1 2023 | 2023-03-31 | 0.37 | 0.02 | +7.05% |
| Q4 2022 | 2022-12-31 | 0.40 | 0.03 | +8.29% |
| Q3 2022 | 2022-09-30 | 0.37 | 0.02 | +7.01% |
| Q2 2022 | 2022-06-30 | 0.37 | 0.04 | +12.36% |
| Q1 2022 | 2022-03-31 | 0.35 | 0.03 | +8.91% |
| Q4 2021 | 2021-12-31 | 0.37 | 0.02 | +7.19% |
| Q3 2021 | 2021-09-30 | 0.34 | 0.01 | +3.91% |
| Q2 2021 | 2021-06-30 | 0.33 | −0.01 | −1.60% |
| Q1 2021 | 2021-03-31 | 0.32 | 0.00 | +1.27% |
| Q4 2020 | 2020-12-31 | 0.35 | 0.01 | +2.88% |
| Q3 2020 | 2020-09-30 | 0.33 | 0.01 | +3.45% |
| Q2 2020 | 2020-06-30 | 0.33 | 0.02 | +5.90% |
| Q1 2020 | 2020-03-31 | 0.32 | 0.01 | +2.42% |
| Q4 2019 | 2019-12-31 | 0.34 | 0.03 | +9.18% |
| Q3 2019 | 2019-09-30 | 0.32 | 0.03 | +9.25% |
| Q2 2019 | 2019-06-30 | 0.31 | 0.06 | +22.76% |
| Q1 2019 | 2019-03-31 | 0.31 | 0.04 | +14.95% |
| Q4 2018 | 2018-12-31 | 0.31 | 0.03 | +11.66% |
| Q3 2018 | 2018-09-30 | 0.29 | 0.03 | +10.91% |
| Q2 2018 | 2018-06-30 | 0.26 | −0.01 | −3.76% |
| Q1 2018 | 2018-03-31 | 0.27 | −0.00 | −1.61% |
| Q4 2017 | 2017-12-31 | 0.28 | −0.02 | −5.89% |
| Q3 2017 | 2017-09-30 | 0.26 | −0.01 | −4.32% |
| Q2 2017 | 2017-06-30 | 0.27 | −0.01 | −4.53% |
| Q1 2017 | 2017-03-31 | 0.27 | −0.01 | −3.15% |
| Q4 2016 | 2016-12-31 | 0.29 | −0.00 | −1.00% |
| Q3 2016 | 2016-09-30 | 0.28 | 0.01 | +2.82% |
| Q2 2016 | 2016-06-30 | 0.28 | 0.01 | +4.21% |
| Q1 2016 | 2016-03-31 | 0.28 | 0.02 | +9.31% |
| Q4 2015 | 2015-12-31 | 0.30 | 0.03 | +9.24% |
| Q3 2015 | 2015-09-30 | 0.27 | −0.00 | −0.10% |
| Q2 2015 | 2015-06-30 | 0.27 | 0.00 | +0.04% |
| Q1 2015 | 2015-03-31 | 0.26 | −0.02 | −5.60% |
| Q4 2014 | 2014-12-31 | 0.27 | −0.02 | −6.95% |
| Q3 2014 | 2014-09-30 | 0.27 | −0.00 | −0.88% |
| Q2 2014 | 2014-06-30 | 0.27 | −0.01 | −3.15% |
| Q1 2014 | 2014-03-31 | 0.27 | −0.00 | −1.20% |
| Q4 2013 | 2013-12-31 | 0.29 | 0.00 | +1.65% |
| Q3 2013 | 2013-09-30 | 0.27 | −0.01 | −4.06% |
| Q2 2013 | 2013-06-30 | 0.28 | 0.00 | +0.86% |
| Q1 2013 | 2013-03-31 | 0.28 | 0.00 | +1.45% |
| Q4 2012 | 2012-12-31 | 0.29 | 0.02 | +9.02% |
| Q3 2012 | 2012-09-30 | 0.28 | 0.04 | +17.90% |
| Q2 2012 | 2012-06-30 | 0.27 | 0.03 | +12.21% |
| Q1 2012 | 2012-03-31 | 0.27 | 0.04 | +15.00% |
| Q4 2011 | 2011-12-31 | 0.26 | 0.03 | +11.01% |
| Q3 2011 | 2011-09-30 | 0.24 | 0.01 | +2.26% |
| Q2 2011 | 2011-06-30 | 0.24 | 0.01 | +6.31% |
| Q1 2011 | 2011-03-31 | 0.24 | 0.01 | +2.75% |
| Q4 2010 | 2010-12-31 | 0.24 | −0.01 | −4.55% |
| Q3 2010 | 2010-09-30 | 0.23 | −0.01 | −5.12% |
| Q2 2010 | 2010-06-30 | 0.23 | — | — |
| Q1 2010 | 2010-03-31 | 0.23 | — | — |
| Q4 2009 | 2009-12-31 | 0.25 | 0.01 | +5.34% |
| Q3 2009 | 2009-09-30 | 0.25 | — | — |
| Q4 2008 | 2008-12-31 | 0.24 | — | — |
Norfolk Southern debt-to-assets ratio trends
Over the last five fiscal years, Norfolk Southern's debt-to-assets ratio increased from 0.35 to 0.38, a change of 0.04. The latest reported quarter, Q2 2026, shows 0.35.
About the metric
What the debt-to-assets ratio means
The debt-to-assets ratio shows the portion of a company’s reported assets financed with interest-bearing debt. It is a leverage measure and should not be confused with total liabilities divided by assets.
Calculation and source
How debt-to-assets is calculated
TickerStat calculates debt-to-assets as total interest-bearing debt divided by total assets at the same reporting-period end. Periods with missing debt or non-positive assets are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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