Norfolk Southern Corporation (NSC)
Return on total capital
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 4,457,000 | 4,624,000 | 5,133,000 | 5,082,000 | 4,136,000 | 3,855,000 | 3,021,000 | 2,506,000 | 3,042,000 | 3,411,000 | 3,885,000 | 4,509,000 | 4,822,000 | 4,757,000 | 4,637,000 | 4,582,000 | 4,524,000 | 4,401,000 | 4,130,000 | 3,587,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 15,547,000 | 15,141,000 | 14,787,000 | 14,511,000 | 14,306,000 | 13,785,000 | 12,979,000 | 12,536,000 | 12,781,000 | 12,615,000 | 12,640,000 | 12,727,000 | 12,733,000 | 13,024,000 | 13,154,000 | 13,461,000 | 13,641,000 | 13,887,000 | 14,317,000 | 14,643,000 |
| Return on total capital | 28.67% | 30.54% | 34.71% | 35.02% | 28.91% | 27.97% | 23.28% | 19.99% | 23.80% | 27.04% | 30.74% | 35.43% | 37.87% | 36.52% | 35.25% | 34.04% | 33.16% | 31.69% | 28.85% | 24.50% |
December 31, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $4,457,000K ÷ ($—K + $15,547,000K)
= 28.67%
Peer comparison
Dec 31, 2025
Company name
Symbol
Return on total capital
Norfolk Southern Corporation
NSC
28.67%
CSX Corporation
CSX
36.24%
Greenbrier Companies Inc
GBX
22.42%
Union Pacific Corporation
UNP
56.72%