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CSX vs Norfolk Southern: CSX and NSC compared
CSX is the larger company: $4.0B of revenue in its latest quarter (Q3 2026) against $3.5B for Norfolk Southern (Q3 2026). Norfolk Southern is growing faster (+14% against +12% a year earlier). CSX is more profitable, with an operating margin of 39.1% against 32.6%.
Where the money goes: CSX and NSC
CSX (CSX) · Q3 2026
CSX, Q3 2026: revenue $4.0B (+12% year over year), operating margin 39.1%, net earnings $1.1B, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
Norfolk Southern (NSC) · Q3 2026
Norfolk Southern, Q3 2026: revenue $3.5B (+14% year over year), operating margin 32.6%, net earnings $759M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| CSX (CSX) | Norfolk Southern (NSC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.0B | $3.5B |
| Revenue growth, Y/Y | +12% | +14% |
| Operating margin | 39.1% | 32.6% |
| Net earnings | $1.1B | $759M |
| Net margin | 26.2% | 21.5% |
| Operating cash flow | $1.6B | $1.3B |
| Free cash flow | $1.0B | $736M |
| Market value | $94.2B | $74.1B |
| P/E | 26.3× | 27.6× |
| Analysts’ mean target | $53.81 | $360.61 |
Where the revenue comes from
CSX
- Total Merchandise: $2.5B (61%)
- Coal: $537M (13%)
- Metals and Equipment: $267M (7%)
- Minerals: $246M (6%)
Norfolk Southern
- Merchandise: $2.2B (62%)
- Intermodal: $919M (26%)
- Coal: $419M (12%)
Questions
Which is bigger, CSX or Norfolk Southern?
CSX is the larger company: $4.0B of revenue in its latest quarter (Q3 2026) against $3.5B for Norfolk Southern (Q3 2026).
Is CSX or Norfolk Southern growing faster?
Norfolk Southern is growing faster (+14% against +12% a year earlier).
Which is more profitable, CSX or Norfolk Southern?
CSX is more profitable, with an operating margin of 39.1% against 32.6%.
More: CSX earnings · how CSX makes money · Norfolk Southern earnings · how Norfolk Southern makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 21, 2026; 10-Q filed Oct 22, 2026). Fiscal quarters can end on different dates. Not investment advice.