Stock Analysis on Net
Stock Analysis on Net

CSX Corp. (NASDAQ:CSX)

Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability Ratios (Summary)

CSX Corp., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015
Return on Sales
Gross profit margin 77.82% 77.71% 77.47% 76.77% 76.21% 75.89% 75.40% 75.01% 74.36% 74.38% 73.90% 74.84% 75.11% 74.64% 74.87% 73.71% 73.15% 72.85% 72.12%
Operating profit margin 40.53% 41.80% 41.59% 41.49% 41.03% 40.72% 39.75% 39.61% 37.33% 35.03% 32.14% 30.65% 30.44% 30.01% 30.62% 29.37% 29.60% 30.21% 30.34%
Net profit margin 26.39% 27.74% 27.90% 27.90% 27.87% 27.84% 27.01% 55.19% 53.27% 50.85% 47.96% 15.45% 15.46% 15.19% 15.48% 15.93% 16.07% 16.51% 16.66%
Return on Investment
Return on equity (ROE) 23.84% 27.52% 28.11% 28.68% 28.03% 27.74% 26.34% 48.15% 44.05% 40.37% 37.21% 16.43% 15.41% 14.76% 14.68% 14.77% 15.28% 16.23% 16.89%
Return on assets (ROA) 7.44% 8.41% 8.71% 8.77% 9.07% 9.04% 9.01% 17.92% 16.71% 15.50% 15.31% 5.03% 4.98% 4.82% 4.84% 4.97% 5.13% 5.44% 5.62%

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-17), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-06), 10-Q (filing date: 2018-10-17), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-07), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-12), 10-Q (filing date: 2016-07-14), 10-Q (filing date: 2016-04-13), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-14), 10-Q (filing date: 2015-07-15), 10-Q (filing date: 2015-04-15).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. CSX Corp.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. CSX Corp.’s operating profit margin ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. CSX Corp.’s net profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. CSX Corp.’s ROE deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
ROA A profitability ratio calculated as net income divided by total assets. CSX Corp.’s ROA deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Gross Profit Margin

CSX Corp., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015
Selected Financial Data (US$ in millions)
Gross profit 1,757  2,209  2,233  2,340  2,372  2,302  2,348  2,387  2,363  2,139  2,090  2,022  2,239  2,080  2,327  2,029  2,013  1,918  2,010  2,136  2,242  2,130 
Revenue 2,255  2,855  2,885  2,978  3,061  3,013  3,143  3,129  3,102  2,876  2,863  2,743  2,933  2,869  3,037  2,710  2,704  2,618  2,781  2,939  3,064  3,027 
Profitability Ratio
Gross profit margin1 77.82% 77.71% 77.47% 76.77% 76.21% 75.89% 75.40% 75.01% 74.36% 74.38% 73.90% 74.84% 75.11% 74.64% 74.87% 73.71% 73.15% 72.85% 72.12%
Benchmarks
Gross Profit Margin, Competitors2
FedEx Corp. 61.35% 61.53% 61.64% 61.71% 61.94% 62.31% 62.63% 62.79% 62.99% 63.28% 63.50% 64.11% 64.85% 65.30% 65.60% 65.54% 65.38% 64.84% 64.21%
Norfolk Southern Corp. 76.76% 76.57% 76.29% 76.36% 75.93% 75.62% 75.41% 76.85% 77.62% 78.20% 78.64% 77.44% 77.20% 77.02% 77.29% 76.94% 76.33% 75.62% 74.45%
Union Pacific Corp. 81.37% 80.47% 79.91% 79.60% 79.03% 78.48% 78.21% 78.32% 78.83% 79.54% 79.97% 80.41% 80.70% 80.81% 81.21% 81.10% 80.90% 80.43% 79.67%
United Parcel Service Inc. 74.57% 74.38% 74.21% 73.52% 72.93% 72.49% 72.27% 72.60% 73.28% 74.22% 75.05% 75.80% 76.32% 76.72% 77.31% 77.75% 77.90% 78.04% 77.82%

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-17), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-06), 10-Q (filing date: 2018-10-17), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-07), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-12), 10-Q (filing date: 2016-07-14), 10-Q (filing date: 2016-04-13), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-14), 10-Q (filing date: 2015-07-15), 10-Q (filing date: 2015-04-15).

1 Q2 2020 Calculation
Gross profit margin = 100 × (Gross profitQ2 2020 + Gross profitQ1 2020 + Gross profitQ4 2019 + Gross profitQ3 2019) ÷ (RevenueQ2 2020 + RevenueQ1 2020 + RevenueQ4 2019 + RevenueQ3 2019)
= 100 × (1,757 + 2,209 + 2,233 + 2,340) ÷ (2,255 + 2,855 + 2,885 + 2,978) = 77.82%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. CSX Corp.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Operating Profit Margin

CSX Corp., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015
Selected Financial Data (US$ in millions)
Operating income 828  1,178  1,154  1,287  1,305  1,219  1,249  1,293  1,283  1,044  1,121  876  958  712  1,004  841  840  704  791  933  1,017  843 
Revenue 2,255  2,855  2,885  2,978  3,061  3,013  3,143  3,129  3,102  2,876  2,863  2,743  2,933  2,869  3,037  2,710  2,704  2,618  2,781  2,939  3,064  3,027 
Profitability Ratio
Operating profit margin1 40.53% 41.80% 41.59% 41.49% 41.03% 40.72% 39.75% 39.61% 37.33% 35.03% 32.14% 30.65% 30.44% 30.01% 30.62% 29.37% 29.60% 30.21% 30.34%
Benchmarks
Operating Profit Margin, Competitors2
FedEx Corp. 5.43% 6.27% 6.41% 6.71% 6.88% 7.18% 7.44% 7.77% 8.00% 8.02% 8.35% 5.89% 5.84% 6.06% 6.11% 3.68% 4.11% 4.06% 3.93%
Norfolk Southern Corp. 30.62% 32.41% 35.31% 35.69% 35.57% 35.32% 34.55% 34.68% 34.56% 34.12% 33.99% 32.13% 31.70% 31.11% 31.09% 29.80% 29.26% 28.96% 27.44%
Union Pacific Corp. 40.25% 40.54% 39.40% 38.93% 38.38% 37.54% 37.30% 37.99% 37.72% 38.03% 37.95% 37.10% 37.27% 36.45% 36.47% 36.16% 36.69% 36.91% 36.91%
United Parcel Service Inc. 9.75% 9.97% 10.52% 10.45% 10.02% 9.59% 9.77% 9.20% 9.83% 10.74% 11.43% 8.76% 8.91% 8.78% 8.98% 13.24% 13.31% 13.30% 13.14%

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-17), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-06), 10-Q (filing date: 2018-10-17), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-07), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-12), 10-Q (filing date: 2016-07-14), 10-Q (filing date: 2016-04-13), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-14), 10-Q (filing date: 2015-07-15), 10-Q (filing date: 2015-04-15).

1 Q2 2020 Calculation
Operating profit margin = 100 × (Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019 + Operating incomeQ3 2019) ÷ (RevenueQ2 2020 + RevenueQ1 2020 + RevenueQ4 2019 + RevenueQ3 2019)
= 100 × (828 + 1,178 + 1,154 + 1,287) ÷ (2,255 + 2,855 + 2,885 + 2,978) = 40.53%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. CSX Corp.’s operating profit margin ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Net Profit Margin

CSX Corp., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015
Selected Financial Data (US$ in millions)
Net earnings 499  770  771  856  870  834  843  894  877  695  4,140  459  510  362  458  455  445  356  466  507  553  442 
Revenue 2,255  2,855  2,885  2,978  3,061  3,013  3,143  3,129  3,102  2,876  2,863  2,743  2,933  2,869  3,037  2,710  2,704  2,618  2,781  2,939  3,064  3,027 
Profitability Ratio
Net profit margin1 26.39% 27.74% 27.90% 27.90% 27.87% 27.84% 27.01% 55.19% 53.27% 50.85% 47.96% 15.45% 15.46% 15.19% 15.48% 15.93% 16.07% 16.51% 16.66%
Benchmarks
Net Profit Margin, Competitors2
FedEx Corp. 0.11% 0.65% 0.77% 5.25% 7.23% 7.16% 6.99% 6.99% 4.74% 4.72% 4.97% 3.31% 3.35% 3.49% 3.61% 2.01% 2.30% 2.27% 2.21%
Norfolk Southern Corp. 20.47% 21.89% 24.10% 23.98% 24.15% 24.10% 23.27% 52.82% 52.36% 51.65% 51.22% 17.86% 17.66% 17.07% 16.87% 16.27% 15.88% 15.76% 14.80%
Union Pacific Corp. 27.54% 27.85% 27.27% 27.28% 26.95% 26.59% 26.13% 51.90% 51.31% 50.73% 50.43% 21.84% 21.79% 21.37% 21.23% 21.05% 21.48% 21.88% 21.88%
United Parcel Service Inc. 5.66% 5.73% 5.99% 6.81% 6.56% 6.34% 6.67% 7.68% 7.49% 7.53% 7.45% 5.58% 5.68% 5.60% 5.63% 8.33% 8.41% 8.42% 8.30%

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-17), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-06), 10-Q (filing date: 2018-10-17), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-07), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-12), 10-Q (filing date: 2016-07-14), 10-Q (filing date: 2016-04-13), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-14), 10-Q (filing date: 2015-07-15), 10-Q (filing date: 2015-04-15).

1 Q2 2020 Calculation
Net profit margin = 100 × (Net earningsQ2 2020 + Net earningsQ1 2020 + Net earningsQ4 2019 + Net earningsQ3 2019) ÷ (RevenueQ2 2020 + RevenueQ1 2020 + RevenueQ4 2019 + RevenueQ3 2019)
= 100 × (499 + 770 + 771 + 856) ÷ (2,255 + 2,855 + 2,885 + 2,978) = 26.39%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. CSX Corp.’s net profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Return on Equity (ROE)

CSX Corp., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015
Selected Financial Data (US$ in millions)
Net earnings 499  770  771  856  870  834  843  894  877  695  4,140  459  510  362  458  455  445  356  466  507  553  442 
Shareholders’ equity, attributable to CSX 12,150  11,871  11,848  11,864  12,276  12,428  12,563  13,719  14,009  14,378  14,705  10,887  11,587  11,656  11,679  11,656  11,612  11,593  11,652  11,645  11,563  11,315 
Profitability Ratio
ROE1 23.84% 27.52% 28.11% 28.68% 28.03% 27.74% 26.34% 48.15% 44.05% 40.37% 37.21% 16.43% 15.41% 14.76% 14.68% 14.77% 15.28% 16.23% 16.89%
Benchmarks
ROE, Competitors2
FedEx Corp. 0.40% 2.48% 3.04% 18.28% 25.76% 25.09% 23.55% 23.63% 17.31% 17.32% 18.65% 12.56% 12.75% 13.03% 13.20% 6.95% 7.45% 7.13% 7.00%
Norfolk Southern Corp. 14.10% 16.30% 17.93% 18.10% 18.31% 18.20% 17.35% 38.32% 34.64% 33.64% 33.03% 14.55% 14.26% 13.68% 13.44% 13.01% 13.08% 13.36% 12.77%
Union Pacific Corp. 33.82% 37.53% 32.65% 33.69% 33.61% 34.08% 29.21% 56.62% 56.71% 44.90% 43.10% 23.90% 23.02% 21.93% 21.24% 20.74% 21.42% 22.47% 23.05%
United Parcel Service Inc. 100.32% 130.16% 135.90% 89.94% 107.99% 131.44% 158.59% 175.66% 223.28% 379.24% 491.00% 236.38% 287.22% 646.36% 847.16% 182.32% 189.95% 201.42% 196.11%

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-17), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-06), 10-Q (filing date: 2018-10-17), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-07), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-12), 10-Q (filing date: 2016-07-14), 10-Q (filing date: 2016-04-13), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-14), 10-Q (filing date: 2015-07-15), 10-Q (filing date: 2015-04-15).

1 Q2 2020 Calculation
ROE = 100 × (Net earningsQ2 2020 + Net earningsQ1 2020 + Net earningsQ4 2019 + Net earningsQ3 2019) ÷ Shareholders’ equity, attributable to CSX
= 100 × (499 + 770 + 771 + 856) ÷ 12,150 = 23.84%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. CSX Corp.’s ROE deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Return on Assets (ROA)

CSX Corp., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 30, 2016 Sep 23, 2016 Jun 24, 2016 Mar 25, 2016 Dec 25, 2015 Sep 25, 2015 Jun 26, 2015 Mar 27, 2015
Selected Financial Data (US$ in millions)
Net earnings 499  770  771  856  870  834  843  894  877  695  4,140  459  510  362  458  455  445  356  466  507  553  442 
Total assets 38,904  38,834  38,257  38,795  37,924  38,154  36,729  36,861  36,924  37,439  35,739  35,573  35,861  35,712  35,414  34,681  34,550  34,610  35,039  34,015  33,777  33,161 
Profitability Ratio
ROA1 7.44% 8.41% 8.71% 8.77% 9.07% 9.04% 9.01% 17.92% 16.71% 15.50% 15.31% 5.03% 4.98% 4.82% 4.84% 4.97% 5.13% 5.44% 5.62%
Benchmarks
ROA, Competitors2
FedEx Corp. 0.11% 0.66% 0.99% 6.68% 9.33% 9.27% 8.74% 8.61% 5.87% 5.83% 6.17% 4.08% 4.00% 4.04% 3.95% 2.63% 2.91% 2.92% 2.83%
Norfolk Southern Corp. 5.52% 6.48% 7.18% 7.35% 7.54% 7.53% 7.36% 16.33% 16.03% 15.27% 15.13% 5.27% 5.17% 4.88% 4.78% 4.66% 4.67% 4.83% 4.54%
Union Pacific Corp. 8.75% 9.65% 9.60% 9.79% 9.90% 9.86% 10.09% 19.71% 19.24% 18.95% 18.53% 7.98% 7.99% 7.74% 7.60% 7.47% 7.86% 8.25% 8.74%
United Parcel Service Inc. 7.05% 7.05% 7.67% 9.38% 9.01% 8.75% 9.58% 11.66% 11.49% 11.46% 10.81% 8.63% 8.99% 9.01% 8.50% 13.04% 13.01% 12.64% 12.64%

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-17), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-06), 10-Q (filing date: 2018-10-17), 10-Q (filing date: 2018-07-18), 10-Q (filing date: 2018-04-18), 10-K (filing date: 2018-02-07), 10-Q (filing date: 2017-10-18), 10-Q (filing date: 2017-07-19), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-12), 10-Q (filing date: 2016-07-14), 10-Q (filing date: 2016-04-13), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-14), 10-Q (filing date: 2015-07-15), 10-Q (filing date: 2015-04-15).

1 Q2 2020 Calculation
ROA = 100 × (Net earningsQ2 2020 + Net earningsQ1 2020 + Net earningsQ4 2019 + Net earningsQ3 2019) ÷ Total assets
= 100 × (499 + 770 + 771 + 856) ÷ 38,904 = 7.44%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. CSX Corp.’s ROA deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.