Stock Analysis on Net
Stock Analysis on Net

Norfolk Southern Corp. (NYSE:NSC)

Analysis of Profitability Ratios
Quarterly Data

Beginner level


Profitability Ratios (Summary)

Norfolk Southern 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Return on Sales
Gross profit margin 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%
Operating profit margin 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%
Net profit margin 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%
Return on Investment
Return on equity (ROE) 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%
Return on assets (ROA) 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%

Based on: 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), 10-K (filing date: 2016-02-08), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-27), 10-Q (filing date: 2015-04-29).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Norfolk Southern 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. Norfolk Southern Corp.’s operating profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Norfolk Southern 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. Norfolk Southern 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. Norfolk Southern Corp.’s ROA deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Gross Profit Margin

Norfolk Southern 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Gross profit 1,629  2,033  2,007  2,192  2,253  2,166  2,172  2,223  2,196  2,050  2,162  2,095  2,055  1,985  1,897  1,957  1,896  1,892  1,884  2,041  2,020  1,880 
Railway operating revenues 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  2,518  2,713  2,713  2,567 
Profitability Ratio
Gross profit margin1 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%
Benchmarks
Gross Profit Margin, Competitors2
CSX Corp. 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%
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%
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: 2020-07-29), 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), 10-K (filing date: 2016-02-08), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-27), 10-Q (filing date: 2015-04-29).

1 Q2 2020 Calculation
Gross profit margin = 100 × (Gross profitQ2 2020 + Gross profitQ1 2020 + Gross profitQ4 2019 + Gross profitQ3 2019) ÷ (Railway operating revenuesQ2 2020 + Railway operating revenuesQ1 2020 + Railway operating revenuesQ4 2019 + Railway operating revenuesQ3 2019)
= 100 × (1,629 + 2,033 + 2,007 + 2,192) ÷ (2,085 + 2,625 + 2,690 + 2,841) = 76.76%

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. Norfolk Southern Corp.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Operating Profit Margin

Norfolk Southern 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Income from railway operations 610  568  962  996  1,065  966  1,078  1,020  1,026  835  1,014  911  888  773  761  820  770  723  642  822  814  606 
Railway operating revenues 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  2,518  2,713  2,713  2,567 
Profitability Ratio
Operating profit margin1 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%
Benchmarks
Operating Profit Margin, Competitors2
CSX Corp. 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%
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%
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: 2020-07-29), 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), 10-K (filing date: 2016-02-08), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-27), 10-Q (filing date: 2015-04-29).

1 Q2 2020 Calculation
Operating profit margin = 100 × (Income from railway operationsQ2 2020 + Income from railway operationsQ1 2020 + Income from railway operationsQ4 2019 + Income from railway operationsQ3 2019) ÷ (Railway operating revenuesQ2 2020 + Railway operating revenuesQ1 2020 + Railway operating revenuesQ4 2019 + Railway operating revenuesQ3 2019)
= 100 × (610 + 568 + 962 + 996) ÷ (2,085 + 2,625 + 2,690 + 2,841) = 30.62%

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. Norfolk Southern Corp.’s operating profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Net Profit Margin

Norfolk Southern 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net income 392  381  666  657  722  677  702  702  710  552  3,968  506  497  433  416  460  405  387  361  452  433  310 
Railway operating revenues 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  2,518  2,713  2,713  2,567 
Profitability Ratio
Net profit margin1 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%
Benchmarks
Net Profit Margin, Competitors2
CSX Corp. 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%
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%
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: 2020-07-29), 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), 10-K (filing date: 2016-02-08), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-27), 10-Q (filing date: 2015-04-29).

1 Q2 2020 Calculation
Net profit margin = 100 × (Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019 + Net incomeQ3 2019) ÷ (Railway operating revenuesQ2 2020 + Railway operating revenuesQ1 2020 + Railway operating revenuesQ4 2019 + Railway operating revenuesQ3 2019)
= 100 × (392 + 381 + 666 + 657) ÷ (2,085 + 2,625 + 2,690 + 2,841) = 20.47%

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. Norfolk Southern Corp.’s net profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Return on Equity (ROE)

Norfolk Southern 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net income 392  381  666  657  722  677  702  702  710  552  3,968  506  497  433  416  460  405  387  361  452  433  310 
Stockholders’ equity 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  12,188  12,129  12,077  12,158 
Profitability Ratio
ROE1 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%
Benchmarks
ROE, Competitors2
CSX Corp. 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%
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%
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: 2020-07-29), 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), 10-K (filing date: 2016-02-08), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-27), 10-Q (filing date: 2015-04-29).

1 Q2 2020 Calculation
ROE = 100 × (Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019 + Net incomeQ3 2019) ÷ Stockholders’ equity
= 100 × (392 + 381 + 666 + 657) ÷ 14,861 = 14.10%

2 Click competitor name to see calculations.

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

Return on Assets (ROA)

Norfolk Southern 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 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net income 392  381  666  657  722  677  702  702  710  552  3,968  506  497  433  416  460  405  387  361  452  433  310 
Total assets 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  34,260  33,527  33,310  32,775 
Profitability Ratio
ROA1 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%
Benchmarks
ROA, Competitors2
CSX Corp. 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%
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%
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: 2020-07-29), 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), 10-K (filing date: 2016-02-08), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-27), 10-Q (filing date: 2015-04-29).

1 Q2 2020 Calculation
ROA = 100 × (Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019 + Net incomeQ3 2019) ÷ Total assets
= 100 × (392 + 381 + 666 + 657) ÷ 37,962 = 5.52%

2 Click competitor name to see calculations.

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