Norfolk Southern Quarterly Cash Flow Statement
NYSE: NSCIndustrialsRailroadsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Norfolk Southern free cash flow
In the quarter ended Jun 30, 2026, Norfolk Southern generated $1.05 billion of operating cash flow and spent $439.0 million on capital expenditures. That left free cash flow of $615.0 million, a free-cash-flow margin of 17.7% of revenue. Free cash flow was up 2.2% from the prior year's $602.0 million.
Norfolk Southern returned $303.0 million to shareholders through dividends, equal to 49% of free cash flow. Free cash flow covered dividend payments 2.0 times.
Summary generated from market data by MetaCap's automated system. Methodology
Norfolk Southern cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 734.00M | 547.00M | 644.00M | 711.00M | 768.00M | 750.00M | 733.00M | 1.10B | 737.00M | 53.00M | 527.00M | 478.00M |
| Net Income growth (YoY) | -4.43% | -27.07% | -12.14% | -35.30% | +4.21% | +1315.09% | +39.09% | +129.92% | +107.02% | -88.63% | -33.29% | -50.10% |
| Depreciation & Amortization | 358.00M | 352.00M | 353.00M | 348.00M | 346.00M | 346.00M | 342.00M | 339.00M | 335.00M | 337.00M | 330.00M | 326.00M |
| Stock-Based Compensation | 24.00M | 25.00M | 11.00M | 17.00M | 17.00M | 18.00M | 13.00M | -5.00M | 13.00M | 19.00M | 8.00M | 10.00M |
| Change in Working Capital | -53.00M | -523.00M | 346.00M | 135.00M | -20.00M | -143.00M | 15.00M | 65.00M | 44.00M | 509.00M | -40.00M | -44.00M |
| Operating Cash Flow | 1.05B | 344.00M | 1.06B | 1.27B | 1.08B | 950.00M | 951.00M | 1.23B | 1.04B | 839.00M | 673.00M | 660.00M |
| Capital Expenditures | -439.00M | -382.00M | -729.00M | -551.00M | -475.00M | -449.00M | -675.00M | -581.00M | -568.00M | -557.00M | -836.00M | -543.00M |
| Investing Cash Flow | -416.00M | -213.00M | -644.00M | -483.00M | -414.00M | -1.02B | 11.00M | -224.00M | -723.00M | -1.84B | -788.00M | -653.00M |
| Dividends Paid | -303.00M | -303.00M | -303.00M | -303.00M | -303.00M | -306.00M | -306.00M | -305.00M | -305.00M | -305.00M | -305.00M | -305.00M |
| Share Repurchases | 0 | -5.00M | 0 | -78.00M | -208.00M | -248.00M | 0 | 0 | 0 | 0 | -119.00M | -200.00M |
| Debt Issued | — | — | 0 | 0 | 396.00M | 0 | 0 | 451.00M | 200.00M | 400.00M | 990.00M | 1.58B |
| Financing Cash Flow | -910.00M | -320.00M | -307.00M | -673.00M | -366.00M | -564.00M | -296.00M | -686.00M | -306.00M | 89.00M | 177.00M | 943.00M |
| Net Change in Cash | -272.00M | -189.00M | 112.00M | 115.00M | 297.00M | -635.00M | 666.00M | 316.00M | 7.00M | -916.00M | 62.00M | 950.00M |
| Free Cash Flow | 615.00M | -38.00M | 334.00M | 720.00M | 602.00M | 501.00M | 276.00M | 645.00M | 468.00M | 282.00M | -163.00M | 117.00M |
This table shows 12 quarterly periods of Norfolk Southern's cash flow statement, from Q2 2026 back to Q3 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow NSC's reporting calendar. What is a cash flow statement?