Stock Analysis on Net
Stock Analysis on Net

Norfolk Southern Corp. (NYSE:NSC)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

Norfolk Southern Corp., long-term (investment) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Net fixed asset turnover 0.31 0.32 0.33 0.36 0.36 0.37 0.37 0.37 0.37 0.37 0.36 0.35 0.35 0.34 0.34 0.34 0.33
Total asset turnover 0.26 0.26 0.27 0.30 0.30 0.31 0.31 0.31 0.32 0.31 0.31 0.30 0.30 0.30 0.29 0.29 0.28
Equity turnover 0.66 0.66 0.69 0.74 0.74 0.75 0.76 0.76 0.75 0.73 0.66 0.65 0.64 0.81 0.81 0.80 0.80

Based on: 10-K (filing date: 2021-02-04), 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-23), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-05), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-22).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Norfolk Southern Corp.’s net fixed asset turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Norfolk Southern Corp.’s total asset turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Norfolk Southern Corp.’s equity turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Net Fixed Asset Turnover

Norfolk Southern Corp., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Railway operating revenues 2,573  2,506  2,085  2,625  2,690  2,841  2,925  2,840  2,896  2,947  2,898  2,717  2,669  2,670  2,637  2,575  2,490  2,524  2,454  2,420 
Properties less accumulated depreciation 31,345  31,239  31,217  31,179  31,614  31,394  31,201  31,158  31,091  30,712  30,540  30,396  30,330  30,163  30,033  29,927  29,751  29,467  29,387  29,135 
Long-term Activity Ratio
Net fixed asset turnover1 0.31 0.32 0.33 0.36 0.36 0.37 0.37 0.37 0.37 0.37 0.36 0.35 0.35 0.34 0.34 0.34 0.33
Benchmarks
Net Fixed Asset Turnover, Competitors2
CSX Corp. 0.33 0.33 0.34 0.37 0.37 0.38 0.39 0.39 0.38 0.38 0.36 0.36 0.36 0.37 0.37 0.36 0.36
FedEx Corp. 2.06 2.09 2.13 2.20 2.29 2.32 2.34 2.34 2.32 2.31 2.28 2.32 2.32 2.25 2.18 2.13 2.07 2.19 2.18 2.24
Union Pacific Corp. 0.36 0.36 0.37 0.40 0.40 0.42 0.43 0.43 0.43 0.43 0.42 0.42 0.41 0.41 0.41 0.40 0.40
United Parcel Service Inc. 2.62 2.50 2.46 2.43 2.43 2.52 2.58 2.64 2.70 2.79 2.90 2.91 2.98 3.05 3.17 3.21 3.24

Based on: 10-K (filing date: 2021-02-04), 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-23), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-05), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-22).

1 Q4 2020 Calculation
Net fixed asset turnover = (Railway operating revenuesQ4 2020 + Railway operating revenuesQ3 2020 + Railway operating revenuesQ2 2020 + Railway operating revenuesQ1 2020) ÷ Properties less accumulated depreciation
= (2,573 + 2,506 + 2,085 + 2,625) ÷ 31,345 = 0.31

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Norfolk Southern Corp.’s net fixed asset turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Total Asset Turnover

Norfolk Southern Corp., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Railway operating revenues 2,573  2,506  2,085  2,625  2,690  2,841  2,925  2,840  2,896  2,947  2,898  2,717  2,669  2,670  2,637  2,575  2,490  2,524  2,454  2,420 
Total assets 37,962  38,179  37,962  37,438  37,923  37,500  37,172  37,062  36,239  36,322  35,788  36,162  35,711  35,153  34,922  35,145  34,892  34,632  34,334  33,785 
Long-term Activity Ratio
Total asset turnover1 0.26 0.26 0.27 0.30 0.30 0.31 0.31 0.31 0.32 0.31 0.31 0.30 0.30 0.30 0.29 0.29 0.28
Benchmarks
Total Asset Turnover, Competitors2
CSX Corp. 0.27 0.27 0.28 0.30 0.31 0.31 0.33 0.32 0.33 0.32 0.31 0.30 0.32 0.33 0.32 0.32 0.31
FedEx Corp. 0.94 1.00 0.99 1.02 1.28 1.27 1.29 1.29 1.25 1.23 1.24 1.24 1.24 1.23 1.19 1.16 1.09 1.31 1.27 1.29
Union Pacific Corp. 0.31 0.31 0.32 0.35 0.35 0.36 0.37 0.37 0.39 0.38 0.37 0.37 0.37 0.37 0.37 0.36 0.36
United Parcel Service Inc. 1.36 1.29 1.25 1.23 1.28 1.38 1.37 1.38 1.44 1.52 1.53 1.52 1.45 1.55 1.58 1.61 1.51

Based on: 10-K (filing date: 2021-02-04), 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-23), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-05), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-22).

1 Q4 2020 Calculation
Total asset turnover = (Railway operating revenuesQ4 2020 + Railway operating revenuesQ3 2020 + Railway operating revenuesQ2 2020 + Railway operating revenuesQ1 2020) ÷ Total assets
= (2,573 + 2,506 + 2,085 + 2,625) ÷ 37,962 = 0.26

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Norfolk Southern Corp.’s total asset turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Equity Turnover

Norfolk Southern Corp., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Railway operating revenues 2,573  2,506  2,085  2,625  2,690  2,841  2,925  2,840  2,896  2,947  2,898  2,717  2,669  2,670  2,637  2,575  2,490  2,524  2,454  2,420 
Stockholders’ equity 14,791  14,941  14,861  14,884  15,184  15,238  15,311  15,331  15,362  15,480  16,559  16,418  16,359  12,727  12,662  12,527  12,409  12,396  12,273  12,223 
Long-term Activity Ratio
Equity turnover1 0.66 0.66 0.69 0.74 0.74 0.75 0.76 0.76 0.75 0.73 0.66 0.65 0.64 0.81 0.81 0.80 0.80
Benchmarks
Equity Turnover, Competitors2
CSX Corp. 0.81 0.84 0.90 0.99 1.01 1.03 1.01 1.00 0.98 0.87 0.83 0.79 0.78 1.06 1.00 0.97 0.95
FedEx Corp. 3.78 3.70 3.71 3.84 3.92 3.48 3.56 3.51 3.37 3.38 3.65 3.67 3.75 3.79 3.80 3.73 3.65 3.46 3.24 3.14
Union Pacific Corp. 1.15 1.14 1.23 1.35 1.20 1.24 1.25 1.28 1.12 1.09 1.11 0.88 0.85 1.09 1.06 1.03 1.00
United Parcel Service Inc. 128.81 14.36 17.74 22.72 22.68 13.20 16.46 20.74 23.79 22.87 29.80 50.35 65.87 42.39 50.58 115.52 150.39

Based on: 10-K (filing date: 2021-02-04), 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-23), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-05), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-06), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-22).

1 Q4 2020 Calculation
Equity turnover = (Railway operating revenuesQ4 2020 + Railway operating revenuesQ3 2020 + Railway operating revenuesQ2 2020 + Railway operating revenuesQ1 2020) ÷ Stockholders’ equity
= (2,573 + 2,506 + 2,085 + 2,625) ÷ 14,791 = 0.66

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Norfolk Southern Corp.’s equity turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.