Norfolk Southern (NSC) FY2021 results: revenue $11.1 billion, up 13.8% on the year
Norfolk Southern Corp. (NSC) reported revenue of $11.1 billion for fiscal 2021, the year ended 31 December 2021, up 13.8% on the year before. Net income was $3.0 billion, up 49.3%, and diluted earnings per share $12.11. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2022.
Revenue
$11.1 billion
+13.8% on the year
FY2014FY2021
Operating margin
39.9%
30.7% a year earlier
FY2014FY2021
Net income
$3.0 billion
+49.3% on the year
FY2014FY2021
Diluted EPS
$12.11
+54.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,255
3,637
3,892
+17.0%
Capital expenditure
1,470
1,494
2,019
-1.6%
Free cash flow
2,785
2,143
1,873
+30.0%
Free cash flow margin
25.0%
21.9%
16.6%
Cash from investing
-1,222
-1,175
-1,764
Cash from financing
-3,309
-1,927
-1,994
Depreciation and amortisation
1,181
1,154
1,139
+2.3%
Share-based compensation
54.0
28.0
53.0
+92.9%
Buybacks
3,390
1,439
2,099
+135.6%
Dividends paid
1,028
960
949
+7.1%
Dividend per share
$4.16
$3.76
$3.60
+10.6%
Diluted shares, weighted
248m
257m
266m
-3.3%
Shares outstanding at period end
240m
252m
258m
-4.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
13,641
14,791
15,184
-7.8%
Debt
13,840
12,681
12,196
+9.1%
Operating lease liabilities
331
344
441
-3.8%
Other liabilities
10,681
10,146
10,102
+5.3%
Total liabilities and equity
38,493
37,962
37,923
+1.4%
Fixed assets
31,653
31,345
31,614
+1.0%
Investments
3,707
3,590
3,428
+3.3%
Cash and equivalents
839
1,115
580
-24.8%
Receivables
976
848
920
+15.1%
Other assets
1,318
1,064
1,381
+23.9%
Total assets
38,493
37,962
37,923
+1.4%
10-K for the year ended 31 December 2021, filed 4 February 2022: the filing.