Norfolk Southern annual ebitda margin
2007
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2009
2010
2011
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2014
2015
2016
2017
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2019
2020
2021
2022
2023
2024
2025
Norfolk Southern EBITDA Margin Growth & History (NSC)
Norfolk Southern's ebitda margin was 47.20% for fiscal 2025.
View full Norfolk Southern company overviewNorfolk Southern annual ebitda margin history
| Fiscal year | Period ended | EBITDA margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 47.20% | +2.46 pp |
| 2024 | 2024-12-31 | 44.74% | +10.61 pp |
| 2023 | 2023-12-31 | 34.13% | −13.18 pp |
| 2022 | 2022-12-31 | 47.31% | −3.20 pp |
| 2021 | 2021-12-31 | 50.51% | +8.06 pp |
| 2020 | 2020-12-31 | 42.46% | −2.94 pp |
| 2019 | 2019-12-31 | 45.40% | +1.21 pp |
| 2018 | 2018-12-31 | 44.19% | +0.77 pp |
| 2017 | 2017-12-31 | 43.42% | +2.57 pp |
| 2016 | 2016-12-31 | 40.85% | +3.33 pp |
| 2015 | 2015-12-31 | 37.51% | −1.47 pp |
| 2014 | 2014-12-31 | 38.98% | +1.82 pp |
| 2013 | 2013-12-31 | 37.16% | +0.51 pp |
| 2012 | 2012-12-31 | 36.65% | +0.11 pp |
| 2011 | 2011-12-31 | 36.54% | −0.26 pp |
| 2010 | 2010-12-31 | 36.80% | +1.58 pp |
| 2009 | 2009-12-31 | 35.22% | −1.35 pp |
| 2008 | 2008-12-31 | 36.57% | +0.83 pp |
| 2007 | 2007-12-31 | 35.74% | — |
Norfolk Southern quarterly ebitda margin
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Q2.26
| Fiscal quarter | Period ended | EBITDA margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 42.77% | −6.14 pp |
| Q1 2026 | 2026-03-31 | 40.99% | −8.86 pp |
| Q4 2025 | 2025-12-31 | 43.38% | −5.33 pp |
| Q3 2025 | 2025-09-30 | 46.60% | −16.82 pp |
| Q2 2025 | 2025-06-30 | 48.91% | +0.75 pp |
| Q1 2025 | 2025-03-31 | 49.85% | +31.54 pp |
| Q4 2024 | 2024-12-31 | 48.71% | +11.68 pp |
| Q3 2024 | 2024-09-30 | 63.42% | +27.00 pp |
| Q2 2024 | 2024-06-30 | 48.16% | +18.06 pp |
| Q1 2024 | 2024-03-31 | 18.31% | −14.64 pp |
| Q4 2023 | 2023-12-31 | 37.03% | −9.00 pp |
| Q3 2023 | 2023-09-30 | 36.42% | −10.78 pp |
| Q2 2023 | 2023-06-30 | 30.10% | −18.36 pp |
| Q1 2023 | 2023-03-31 | 32.95% | −14.63 pp |
| Q4 2022 | 2022-12-31 | 46.03% | −4.00 pp |
| Q3 2022 | 2022-09-30 | 47.20% | −3.04 pp |
| Q2 2022 | 2022-06-30 | 48.46% | −3.74 pp |
| Q1 2022 | 2022-03-31 | 47.58% | −1.94 pp |
| Q4 2021 | 2021-12-31 | 50.04% | +0.64 pp |
| Q3 2021 | 2021-09-30 | 50.25% | +5.03 pp |
| Q2 2021 | 2021-06-30 | 52.20% | +9.42 pp |
| Q1 2021 | 2021-03-31 | 49.53% | +16.76 pp |
| Q4 2020 | 2020-12-31 | 49.40% | +3.04 pp |
| Q3 2020 | 2020-09-30 | 45.21% | +0.05 pp |
| Q2 2020 | 2020-06-30 | 42.78% | −3.34 pp |
| Q1 2020 | 2020-03-31 | 32.76% | −11.22 pp |
| Q4 2019 | 2019-12-31 | 46.36% | −0.60 pp |
| Q3 2019 | 2019-09-30 | 45.16% | +1.18 pp |
| Q2 2019 | 2019-06-30 | 46.12% | +1.26 pp |
| Q1 2019 | 2019-03-31 | 43.98% | +3.24 pp |
| Q4 2018 | 2018-12-31 | 46.96% | −0.51 pp |
| Q3 2018 | 2018-09-30 | 43.98% | +0.49 pp |
| Q2 2018 | 2018-06-30 | 44.86% | +1.78 pp |
| Q1 2018 | 2018-03-31 | 40.74% | +1.25 pp |
| Q4 2017 | 2017-12-31 | 47.47% | +9.08 pp |
| Q3 2017 | 2017-09-30 | 43.48% | +0.73 pp |
| Q2 2017 | 2017-06-30 | 43.08% | +1.19 pp |
| Q1 2017 | 2017-03-31 | 39.50% | −0.84 pp |
| Q4 2016 | 2016-12-31 | 38.39% | +1.42 pp |
| Q3 2016 | 2016-09-30 | 42.75% | +2.28 pp |
| Q2 2016 | 2016-06-30 | 41.89% | +2.75 pp |
| Q1 2016 | 2016-03-31 | 40.33% | +7.14 pp |
| Q4 2015 | 2015-12-31 | 36.97% | −2.47 pp |
| Q3 2015 | 2015-09-30 | 40.47% | −0.38 pp |
| Q2 2015 | 2015-06-30 | 39.14% | −2.24 pp |
| Q1 2015 | 2015-03-31 | 33.19% | −0.47 pp |
| Q4 2014 | 2014-12-31 | 39.44% | +0.71 pp |
| Q3 2014 | 2014-09-30 | 40.85% | +2.61 pp |
| Q2 2014 | 2014-06-30 | 41.39% | +3.41 pp |
| Q1 2014 | 2014-03-31 | 33.66% | +0.09 pp |
| Q4 2013 | 2013-12-31 | 38.74% | +3.42 pp |
| Q3 2013 | 2013-09-30 | 38.24% | +2.48 pp |
| Q2 2013 | 2013-06-30 | 37.97% | −2.53 pp |
| Q1 2013 | 2013-03-31 | 33.56% | −1.25 pp |
| Q4 2012 | 2012-12-31 | 35.32% | −1.25 pp |
| Q3 2012 | 2012-09-30 | 35.76% | −4.25 pp |
| Q2 2012 | 2012-06-30 | 40.50% | +2.47 pp |
| Q1 2012 | 2012-03-31 | 34.82% | +3.78 pp |
| Q4 2011 | 2011-12-31 | 36.57% | +1.00 pp |
| Q3 2011 | 2011-09-30 | 40.01% | +1.25 pp |
| Q2 2011 | 2011-06-30 | 38.03% | −0.57 pp |
| Q1 2011 | 2011-03-31 | 31.03% | −2.97 pp |
| Q4 2010 | 2010-12-31 | 35.58% | −0.70 pp |
| Q3 2010 | 2010-09-30 | 38.76% | +1.24 pp |
| Q2 2010 | 2010-06-30 | 38.60% | +2.14 pp |
| Q1 2010 | 2010-03-31 | 34.00% | +3.54 pp |
| Q4 2009 | 2009-12-31 | 36.28% | — |
| Q3 2009 | 2009-09-30 | 37.52% | — |
| Q2 2009 | 2009-06-30 | 36.46% | — |
| Q1 2009 | 2009-03-31 | 30.47% | — |
Norfolk Southern ebitda margin trends
Over the last five fiscal years, Norfolk Southern's ebitda margin increased from 42.46% to 47.20%, a change of +4.74 percentage points. The latest reported quarter, Q2 2026, shows 42.77%.
About the metric
What EBITDA margin means
EBITDA margin measures EBITDA as a percentage of revenue. It can help compare operating profitability over time, but it excludes capital intensity, financing costs, taxes, and other items and is generally unsuitable for financial companies.
Calculation and source
How EBITDA margin is calculated
TickerStat calculates EBITDA margin as EBITDA divided by positive 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.
Review Norfolk Southern source filings ↗Community posts
Norfolk Southern grows earnings despite a higher operating ratio
Norfolk Southern ($NSC) reported third-quarter 2026 railway revenue of $3.5 billion, up 14%, on a 3% increase in traffic volume. Higher fuel surcharges accounted for eight percentage points of the revenue growth. GAAP earnings increased 7% ...
