Norfolk Southern annual working capital
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2024
2025
Norfolk Southern Working Capital Growth & History (NSC)
Norfolk Southern's working capital was −$577.0M for fiscal 2025.
View full Norfolk Southern company overviewNorfolk Southern annual working capital history
| Fiscal year | Period ended | Working capital | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | −$577.0M | −$220.0M | — |
| 2024 | 2024-12-31 | −$357.0M | −$996.0M | — |
| 2023 | 2023-12-31 | $639.0M | $1.28B | — |
| 2022 | 2022-12-31 | −$642.0M | −$288.0M | — |
| 2021 | 2021-12-31 | −$354.0M | −$512.0M | — |
| 2020 | 2020-12-31 | $158.0M | $377.0M | — |
| 2019 | 2019-12-31 | −$219.0M | $510.0M | — |
| 2018 | 2018-12-31 | −$729.0M | −$333.0M | — |
| 2017 | 2017-12-31 | −$396.0M | −$348.0M | — |
| 2016 | 2016-12-31 | −$48.0M | −$329.0M | — |
| 2015 | 2015-12-31 | $281.0M | −$717.0M | −71.84% |
| 2014 | 2014-12-31 | $998.0M | $228.0M | +29.61% |
| 2013 | 2013-12-31 | $770.0M | $609.0M | +378.26% |
| 2012 | 2012-12-31 | $161.0M | $111.0M | +222.00% |
| 2011 | 2011-12-31 | $50.0M | −$339.0M | −87.15% |
| 2010 | 2010-12-31 | $389.0M | −$68.0M | −14.88% |
| 2009 | 2009-12-31 | $457.0M | $563.0M | — |
| 2008 | 2008-12-31 | −$106.0M | — | — |
Norfolk Southern quarterly working capital
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Q3.09
Q4.09
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Q3.11
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Q3.16
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Q3.17
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Q4.19
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Q4.20
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Q2.21
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Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Working capital | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$569.0M | $191.0M | — |
| Q1 2026 | 2026-03-31 | −$311.0M | $438.0M | — |
| Q4 2025 | 2025-12-31 | −$577.0M | −$220.0M | — |
| Q3 2025 | 2025-09-30 | −$488.0M | $499.0M | — |
| Q2 2025 | 2025-06-30 | −$760.0M | $603.0M | — |
| Q1 2025 | 2025-03-31 | −$749.0M | $342.0M | — |
| Q4 2024 | 2024-12-31 | −$357.0M | −$996.0M | — |
| Q3 2024 | 2024-09-30 | −$987.0M | −$1.22B | — |
| Q2 2024 | 2024-06-30 | −$1.36B | −$408.0M | — |
| Q1 2024 | 2024-03-31 | −$1.09B | −$389.0M | — |
| Q4 2023 | 2023-12-31 | $639.0M | $1.28B | — |
| Q3 2023 | 2023-09-30 | $228.0M | $311.0M | — |
| Q2 2023 | 2023-06-30 | −$955.0M | −$1.20B | — |
| Q1 2023 | 2023-03-31 | −$702.0M | −$570.0M | — |
| Q4 2022 | 2022-12-31 | −$642.0M | −$288.0M | — |
| Q3 2022 | 2022-09-30 | −$83.0M | −$395.0M | — |
| Q2 2022 | 2022-06-30 | $248.0M | $32.0M | +14.81% |
| Q1 2022 | 2022-03-31 | −$132.0M | −$186.0M | — |
| Q4 2021 | 2021-12-31 | −$354.0M | −$512.0M | — |
| Q3 2021 | 2021-09-30 | $312.0M | −$262.0M | −45.64% |
| Q2 2021 | 2021-06-30 | $216.0M | −$199.0M | −47.95% |
| Q1 2021 | 2021-03-31 | $54.0M | $288.0M | — |
| Q4 2020 | 2020-12-31 | $158.0M | $377.0M | — |
| Q3 2020 | 2020-09-30 | $574.0M | $1.32B | — |
| Q2 2020 | 2020-06-30 | $415.0M | $952.0M | — |
| Q1 2020 | 2020-03-31 | −$234.0M | $729.0M | — |
| Q4 2019 | 2019-12-31 | −$219.0M | $510.0M | — |
| Q3 2019 | 2019-09-30 | −$745.0M | −$413.0M | — |
| Q2 2019 | 2019-06-30 | −$537.0M | −$89.0M | — |
| Q1 2019 | 2019-03-31 | −$963.0M | −$1.05B | — |
| Q4 2018 | 2018-12-31 | −$729.0M | −$333.0M | — |
| Q3 2018 | 2018-09-30 | −$332.0M | $82.0M | — |
| Q2 2018 | 2018-06-30 | −$448.0M | −$41.0M | — |
| Q1 2018 | 2018-03-31 | $91.0M | $207.0M | — |
| Q4 2017 | 2017-12-31 | −$396.0M | −$348.0M | — |
| Q3 2017 | 2017-09-30 | −$414.0M | −$499.0M | — |
| Q2 2017 | 2017-06-30 | −$407.0M | −$539.0M | — |
| Q1 2017 | 2017-03-31 | −$116.0M | −$251.0M | — |
| Q4 2016 | 2016-12-31 | −$48.0M | −$329.0M | — |
| Q3 2016 | 2016-09-30 | $85.0M | $450.0M | — |
| Q2 2016 | 2016-06-30 | $132.0M | −$78.0M | −37.14% |
| Q1 2016 | 2016-03-31 | $135.0M | $123.0M | +1025.00% |
| Q4 2015 | 2015-12-31 | $281.0M | −$717.0M | −71.84% |
| Q3 2015 | 2015-09-30 | −$365.0M | −$1.29B | — |
| Q2 2015 | 2015-06-30 | $210.0M | −$688.0M | −76.61% |
| Q1 2015 | 2015-03-31 | $12.0M | −$797.0M | −98.52% |
| Q4 2014 | 2014-12-31 | $998.0M | $228.0M | +29.61% |
| Q3 2014 | 2014-09-30 | $930.0M | $768.0M | +474.07% |
| Q2 2014 | 2014-06-30 | $898.0M | $635.0M | +241.44% |
| Q1 2014 | 2014-03-31 | $809.0M | $390.0M | +93.08% |
| Q4 2013 | 2013-12-31 | $770.0M | $609.0M | +378.26% |
| Q3 2013 | 2013-09-30 | $162.0M | −$213.0M | −56.80% |
| Q2 2013 | 2013-06-30 | $263.0M | $153.0M | +139.09% |
| Q1 2013 | 2013-03-31 | $419.0M | $19.0M | +4.75% |
| Q4 2012 | 2012-12-31 | $161.0M | $111.0M | +222.00% |
| Q3 2012 | 2012-09-30 | $375.0M | $486.0M | — |
| Q2 2012 | 2012-06-30 | $110.0M | −$452.0M | −80.43% |
| Q1 2012 | 2012-03-31 | $400.0M | $135.0M | +50.94% |
| Q4 2011 | 2011-12-31 | $50.0M | −$339.0M | −87.15% |
| Q3 2011 | 2011-09-30 | −$111.0M | −$789.0M | — |
| Q2 2011 | 2011-06-30 | $562.0M | $171.0M | +43.73% |
| Q1 2011 | 2011-03-31 | $265.0M | −$188.0M | −41.50% |
| Q4 2010 | 2010-12-31 | $389.0M | −$68.0M | −14.88% |
| Q3 2010 | 2010-09-30 | $678.0M | $311.0M | +84.74% |
| Q2 2010 | 2010-06-30 | $391.0M | — | — |
| Q1 2010 | 2010-03-31 | $453.0M | — | — |
| Q4 2009 | 2009-12-31 | $457.0M | $563.0M | — |
| Q3 2009 | 2009-09-30 | $367.0M | — | — |
| Q4 2008 | 2008-12-31 | −$106.0M | — | — |
Norfolk Southern working capital trends
Over the last five fiscal years, Norfolk Southern's working capital decreased from $158.0M to −$577.0M, a change of −$735.0M. The latest reported quarter, Q2 2026, shows −$569.0M.
About the metric
What working capital means
Working capital is the difference between current assets and current liabilities. It provides a snapshot of short-term operating liquidity, although negative working capital can be normal for some business models and the measure is often not meaningful for banks.
Calculation and source
How working capital is calculated
TickerStat calculates working capital as reported current assets minus reported current liabilities at the same balance-sheet date. Missing current classifications are not assumed to be zero. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Norfolk Southern source filings ↗Community posts
Norfolk Southern grows earnings despite a higher operating ratio
Norfolk Southern ($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% ...
