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Stocks / United States / CSX · Railroads, Line-Haul Operating · Nasdaq

CSX Corp. (CSX)

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CSX Corp. (CSX) reported revenue of $3.9 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.1% on the same quarter a year earlier. Net income was $1.0 billion, up 20.9% on the year, and diluted earnings per share $0.54. The figures are the company's own, from the 10-Q it filed with the SEC on 22 July 2026.

Revenue$3.9 billionup 10.1%
Net income$1.0 billionup 20.9%
Diluted EPS$0.54
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE22.9%
ROCE15.9%
Operating margin34.2%
Net margin22.2%
FCF margin19.3%
Interest cover5.85
Debt to equity1.22
Cash conversion1.65
Share count, 1 year-0.6%
Sales CAGR, 3 years-1.7%
Profit CAGR, 3 years-11.1%
EPS, TTM$1.73

At the close of 21 September 2026

Price$45.99
Market cap$85.2 billion
Stock P/E26.58
Price to book6.05
EV / EBITDA15.33
Dividend yield1.1%
Market cap / sales5.87
52-week high$53.23
52-week low$33.20
Price, 1 year39.4%
Price CAGR, 3 years13.8%
Price CAGR, 5 years9.0%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure CSX Corp. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CSX

Filings18 in twelve months: 9 current reports (8-K), about 4 results of operations; 3 officer or director change; 3 other events; 2 regulation fd disclosure; 1 shareholder vote
Planned insider sales11 Form 144 notices in twelve months, $23.7 million; latest 24 July 2026
Options tapeput/call 0.77 by open interest on 23 September 2026; the straddle prices a 2.1% move to 25 September 2026
Holders10 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading7 sales and 1 purchase on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest41.1 million shares short, 4.76 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,5723,6803,6813,7013,6193,5393,4233,5743,5873,5083,4823,935
Operating income1,2951,3151,3541,4481,3541,0891,0411,2831,0871,1101,2531,506
Operating margin36%36%37%39%37%31%30%36%30%32%36%38%
Interest expense203n/a210209206207209212210213213211
Pre-tax income1,1261,1441,1851,2671,1849198581,0938989201,0631,320
Tax rate25%23%25%24%24%22%25%24%23%22%24%24%
Net income8468828939638947206468296947208071,002
Net margin24%24%24%26%25%20%19%23%19%21%23%25%
Diluted EPS$0.42$0.45$0.46$0.49$0.46$0.38$0.34$0.44$0.37$0.39$0.43$0.54
Operating cash flow1,5661,5001,0841,0891,6861,3881,2556351,3371,3861,2721,327
Capital expenditure575691524542625838719776730677543576
Free cash flow9918095605471,061550536-141607709729751
Buybacks9715812475634021,025751421112112222296
Dividends paid218216235233232230245243242242260260
Shares outstanding1,976m1,958m1,955m1,939m1,928m1,900m1,879m1,864m1,862m1,860m1,858m1,852m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024FY2025TTM
Revenue12,66911,81111,06911,40812,25011,93710,58312,52214,85314,65714,54014,09214,512
Operating income3,6133,5843,4133,7204,8694,9654,3625,5945,9545,4995,2454,5214,956
Operating margin28.5%30.3%30.8%32.6%39.7%41.6%41.2%44.7%40.1%37.5%36.1%32.1%34.2%
Interest expense545544579546n/an/an/an/a742809832844847
Pre-tax income3,0443,1382,7413,1424,3044,3163,6274,9515,3454,8294,5553,7694,201
Income tax1,1171,1701,027-2,3299959858621,1701,2311,1611,085880978
Effective tax rate36.7%37.3%37.5%-74.1%23.1%22.8%23.8%23.6%23.0%24.0%23.8%23.3%23.3%
Net income1,9271,9681,7145,4713,3093,3312,7653,7814,1143,6683,4702,8893,223
Net margin15.2%16.7%15.5%48.0%27.0%27.9%26.1%30.2%27.7%25.0%23.9%20.5%22.2%
Diluted EPS$1.92$2.00$1.81$5.99$3.84$4.17$3.60$1.68$1.95$1.85$1.79$1.54$1.73
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024FY2025TTM
Operating cash flow3,3433,3703,0413,4724,6414,8504,2635,0995,5265,5145,2474,6135,322
Capital expenditure2,4492,5622,3982,0401,7451,6571,6261,7912,1132,2572,5292,9022,526
Free cash flow8948086431,4322,8963,1932,6373,3083,4133,2572,7181,7112,796
Free cash flow margin7.1%6.8%5.8%12.6%23.6%26.7%24.9%26.4%23.0%22.2%18.7%12.1%19.3%
Depreciation and amortisationn/an/an/an/an/an/a1,3831,4201,5001,6071,6581,6801,654
Share-based compensation33.012.037.089.051.074.029.010774.060.040.054.065.0
Buybacks5178041,0561,9704,6713,3738672,8864,7313,4822,2371,396742
Dividends paid6296866807087517637978398528829309721,004
Dividend per share$0.63$0.70$0.72$0.78$0.88$0.96$1.04$0.37$0.40$0.44$0.48$0.52n/a
Diluted shares, weighted1,002m984m948m914m861m798m768m2,255m2,141m2,013m1,943m1,873m1,859m
Shares outstanding at period endn/an/an/an/an/an/a763m2,202m2,066m1,958m1,900m1,860m1,852m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022 FY2023 FY2024FY2025TTM
Total assets33,05334,74535,41435,73936,72938,25739,79340,53141,68242,20042,76443,68244,726
Cash and equivalents6696286034018589583,1292,2391,9581,3539336701,007
Receivables1,1299829389701,0109869121,1481,3131,3931,3261,2981,456
Goodwill63.063.063.063.0n/a63.063.027631932523980.0n/a
Long-term debt including finance leases9,51410,51510,96211,79014,73915,99316,30416,18517,89617,97517,89718,16517,162
Operating lease liabilitiesn/an/an/an/a0.0493455478488491486479493
Shareholders' equity11,17611,66811,69414,72112,58011,86313,11013,45112,46911,98512,50713,16014,088
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded1.8%5.9%-1.7%2.5%
Profit growth, compounded3.9%0.9%-11.1%4.3%
Return on equity, average26.9%28.3%26.8%22.0%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Railroads, Line-Haul Operating

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Union Pacific Corp. UNP$160.1 billion21.8135.5%40.0%4.2%1.402.0%
CSX Corp. CSX$85.2 billion26.5822.9%34.2%2.5%1.221.1%
Norfolk Southern Corp. NSC$69.4 billion26.3716.2%32.2%3.0%0.981.7%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202622 July 2026EDGAR
10-Q31 March 202622 April 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 202516 October 2025EDGAR
10-Q30 June 202523 July 2025EDGAR
10-Q31 March 202516 April 2025EDGAR
10-K31 December 202427 February 2025EDGAR
10-Q30 September 202417 October 2024EDGAR
10-Q30 June 20245 August 2024EDGAR
10-Q31 March 202418 April 2024EDGAR

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