Stock Analysis on Net

Norfolk Southern Corp. (NYSE:NSC)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 27, 2022.

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Norfolk Southern Corp., debt to equity, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions


Total Debt
The total debt displayed a generally upward trend over the analyzed period. Starting at 6,930 million USD in 2005, it experienced some fluctuations but mostly increased, reaching its highest value of 13,840 million USD by the end of 2021. Notably, the debt increased steadily from 2009 onward, with particularly marked rises between 2011 and 2013 and again from 2018 to 2021.
Stockholders' Equity
Stockholders' equity showed a relatively moderate growth from 9,289 million USD in 2005 to a peak of 16,359 million USD in 2017. After this peak, equity decreased gradually, declining to 13,641 million USD by the end of 2021. The period between 2011 and 2017 saw more pronounced growth, while the final four years indicated a downward trend in equity.
Debt to Equity Ratio
The debt to equity ratio showed variability with an initial decrease from 0.75 in 2005 to a low of 0.60 by 2017, indicating a more conservative capital structure or relative improvement in equity compared to debt during this timeframe. After 2017, the ratio increased notably, surpassing 1.00 in 2021, which reflects rising leverage with debt levels exceeding equity. This shift marks a potential change in financial strategy or increased reliance on debt financing.
Overall Insights
Across the period, the company's total debt grew significantly, especially after 2009, while equity rose until 2017 and then declined. The debt to equity ratio trend indicates decreasing leverage until 2017 followed by increasing leverage culminating in a ratio above 1 in 2021. This suggests a shift toward higher financial leverage and possibly elevated financial risk in recent years.

Comparison to Competitors

Norfolk Southern Corp., debt to equity, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Sector (Transportation)

Norfolk Southern Corp., debt to equity, long-term trends, comparison to sector (transportation)

Microsoft Excel

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Industry (Industrials)

Norfolk Southern Corp., debt to equity, long-term trends, comparison to industry (industrials)

Microsoft Excel

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).