NSC on NYSE

Norfolk Southern Corporation

Norfolk Southern Corporation is a holding company formed in 1982 for Norfolk and Western Railway and Southern Railway.1 Its chief executive is Alan H. Shaw (since 2013).1 Its revenue was $12.7 billion in 2022.1 Its shares trade on NYSE under the symbol NSC.1

$326.30 up 1.47 (0.45%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 21, 2026.

Overview

1980Founded1

Compare with CSX Corporation, Union Pacific Corporation or Kansas City Southern, or pick any stock.

  • TickerNSC on NYSE1
  • IndustryRailroads, Line-Haul Operating1
  • HeadquartersNorfolk1
  • Websitewww.norfolksouthern.com
  • Incorporated inVA5
  • Business address650 W Peachtree Street Nw, Atlanta, Ga 303085
  • Filer categoryLarge accelerated filer5
  • Legal formStock Corporation3
  • LEI54930036C8MWP850MI843
  • StatusActive3
  • LEI statusLapsed (not renewed)3
  • Registered addressC/O CORPORATION SERVICE COMPANY, 23219 Richmond, United States3
  • Registered withState Corporation Commission, 020802813

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

35.8%Operating margin7
23.6%Net margin7
0.5%Revenue growth, 20257
18.5%Return on equity7
$2.2BFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Railway Operating Revenues Market Group Merchandise brought in 63% of the revenue Norfolk Southern Corporation broke down this way in fiscal 2025.

  1. Railway Operating Revenues Market Group Merchandise$7.7B763%up 3% from 2024
  2. Railway Operating Revenues Market Group Intermodal$3.0B725%down 1% from 2024
  3. Railway Operating Revenues Market Group Coal$1.5B712%down 8% from 2024
Business segments by year
Business segments202320242025
Railway Operating Revenues Market Group Merchandise$7.4B$7.5B$7.7B
Railway Operating Revenues Market Group Intermodal$3.1B$3.0B$3.0B
Railway Operating Revenues Market Group Coal$1.7B$1.6B$1.5B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs70¢$8.5B
  • Income tax7¢$792.0M
  • Profit24¢$2.9B

Out of $12.2B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending51¢$2.2B
  • Dividends paid28¢$1.2B
  • Share buybacks12¢$534.0M
  • Kept or used elsewhere9¢$408.0M

Out of $4.4B of cash from operations.7

Financial statements

Revenue8910117$12.2B in 2025+8% since 2019
0$5.0B$10.0B$15.0B2019: $11.3B$11.3B20192020: $9.8B$9.8B2020−13%2021: $11.1B$11.1B2021+14%2022: $12.7B$12.7B2022+14%2023: $12.2B$12.2B2023−5%2024: $12.1B$12.1B2024−0%2025: $12.2B$12.2B2025+0%
Operating income8910117$4.4B in 2025+9% since 2019
0$2.0B$4.0B$6.0B2019: $4.0B$4.0B20192020: $3.0B$3.0B2020−25%2021: $4.4B$4.4B2021+48%2022: $4.8B$4.8B2022+8%2023: $2.9B$2.9B2023−41%2024: $4.1B$4.1B2024+43%2025: $4.4B$4.4B2025+7%
Net income8910117$2.9B in 2025+6% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $2.7B$2.7B20192020: $2.0B$2.0B2020−26%2021: $3.0B$3.0B2021+49%2022: $3.3B$3.3B2022+9%2023: $1.8B$1.8B2023−44%2024: $2.6B$2.6B2024+44%2025: $2.9B$2.9B2025+10%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Railway operating revenues$12.2B$12.1B$12.2B
Compensation and benefits$2.9B$2.8B$2.8B
Purchased services and rents$2.1B$2.0B$2.1B
Fuel$932.0M$987.0M$1.2B
Depreciation$1.4B$1.4B$1.3B
Materials and other$634.0M$333.0M$832.0M
Merger-related expenses$80.0M$0$0
Restructuring and other charges$22.0M$183.0M$0
Eastern Ohio incident-$254.0M
Eastern Ohio incident$325.0M$1.1B
Total railway operating expenses$7.8B$8.1B$9.3B
Income from railway operations$4.4B$4.1B$2.9B
Other income net$101.0M$65.0M$191.0M
Interest expense on debt$792.0M$807.0M$722.0M
Income before income taxes$3.7B$3.3B$2.3B
Income taxes$792.0M$707.0M$493.0M
Net income$2.9B$2.6B$1.8B
Basic (in dollars per share)$12.76$11.58$8.04
Diluted (in dollars per share)$12.75$11.57$8.02

Compare Norfolk Southern Corporation with another company

Corporate structure

Norfolk Southern Corporation sits at the top of its group. 52 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Norfolk Southern Corporation

  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Norfolk Southern Corporation, latest Apr 30, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Norfolk Southern Corporation, latest Mar 27, 2026 (5 filings since Feb 10, 2022)
  • JPMorgan Chase Filed SC 13G/A on Norfolk Southern Corporation, latest Apr 9, 2024 (4 filings since Jan 14, 2022)
  • BlackRock Filed SC 13G/A on Norfolk Southern Corporation, latest Jan 29, 2024 (3 filings since Feb 1, 2022)
  • Norfolk Southern Corporation Norfolk, Virginia, United States
    • Airforce Pipeline, Inc. Subsidiary · North Carolina, United States
    • Alabama Great Southern LLC Subsidiary · Virginia, United States
    • Alabama Great Southern Railroad Company, The Subsidiary · Alabama, United States
    • Alexandria-Southern Properties, Inc. Subsidiary · Virginia, United States
    • Arrowood-Southern Company Subsidiary · North Carolina, United States
    • Camp Lejeune Railroad Company Subsidiary · North Carolina, United States
    • Central of Georgia Railroad Company Subsidiary · Georgia, United States
    • Chesapeake Western Railway Subsidiary · Virginia, United States
    • Cincinnati, New Orleans and Texas Pacific Railway LLC, The Subsidiary · Ohio, United States
    • Citico Realty Company Subsidiary · Virginia, United States
    • CNOTP LLC Subsidiary · Ohio, United States
    • General American Insurance Company Subsidiary · Georgia, United States
    • Georgia Southern and Florida Railway Company Subsidiary · Georgia, United States
    • GSFR LLC Subsidiary · Georgia, United States
    • High Point, Randleman, Asheboro and Southern Railroad Company Subsidiary · North Carolina, United States
    • HPRASR LLC Subsidiary · North Carolina, United States
    • Interstate Railroad Company Subsidiary · Virginia, United States
    • Lamberts Point Barge Company, Inc. Subsidiary · Virginia, United States
    • Mobile and Birmingham Railroad Company Subsidiary · Alabama, United States
    • Nickel Plate Improvement Company, Inc., The Subsidiary · Indiana, United States
    • Norfolk and Portsmouth Belt Line Railroad Company Subsidiary · Virginia, United States
    • Norfolk Southern - Mexico, LLC Subsidiary · Virginia, United States
    • Norfolk Southern Properties, Inc. Subsidiary · Virginia, United States
    • Norfolk Southern Railroad Company Subsidiary · United States
    • Norfolk Southern Railway Company Subsidiary · Virginia, United States
    • and 26 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Norfolk Southern Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$51.1B7 Dec 31, 2025$49.8B7 Dec 31, 2024+2.6%
Accumulated depreciation$14.6B7 Dec 31, 2025$14.0B7 Dec 31, 2024+4.7%
Property and equipment, net$36.5B7 Dec 31, 2025$35.8B7 Dec 31, 2024+1.8%
Operating-lease assets (leased space)$218.0M7 Dec 31, 2025$271.0M7 Dec 31, 2024−19.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5B7 Dec 31, 2025$1.6B7 Dec 31, 2024−6.8%
Stakes in other companies (equity method)$3.3B7 Dec 31, 2025$3.2B7 Dec 31, 2024+4.1%
Long-term investments$4.1B7 Dec 31, 2025$3.4B7 Dec 31, 2024+21.3%

Leadership

Who has led Norfolk Southern Corporation, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (63)

Subsidiaries and ownership

Subsidiaries

Subsidiaries (Exhibit 21)

  • Airforce Pipeline, Inc. North Carolina6
  • Alabama Great Southern LLC Virginia6
  • Alabama Great Southern Railroad Company, The Alabama6
  • Alexandria-Southern Properties, Inc. Virginia6
  • Arrowood-Southern Company North Carolina6
  • CNOTP LLC Ohio6
  • Camp Lejeune Railroad Company North Carolina6
  • Central of Georgia Railroad Company Georgia6
  • Chesapeake Western Railway Virginia6
  • Cincinnati, New Orleans and Texas Pacific Railway LLC, The Ohio6
  • Citico Realty Company Virginia6
  • GSFR LLC Georgia6
  • General American Insurance Company Georgia6
  • Georgia Southern and Florida Railway Company Georgia6
  • HPRASR LLC North Carolina6
  • High Point, Randleman, Asheboro and Southern Railroad Company North Carolina6
  • Interstate Railroad Company Virginia6
  • Lamberts Point Barge Company, Inc. Virginia6
  • Mobile and Birmingham Railroad Company Alabama6
  • NS Fiber Optics, Inc. Virginia6
  • NS Spectrum Corporation Virginia6
  • NS Transportation Brokerage Corporation Virginia6
  • Nickel Plate Improvement Company, Inc., The Indiana6
  • Norfolk Southern - Mexico, LLC Virginia6
All 50 listed subsidiaries
  • Norfolk Southern Properties, Inc. Virginia6
  • Norfolk Southern Railway Company Virginia6
  • Norfolk and Portsmouth Belt Line Railroad Company Virginia6
  • NorfolkSouthernMexicana, S. de R.L. de C.V. Mexico6
  • North Carolina Midland Railroad Company, The North Carolina6
  • RIC LLC Delaware6
  • Rail Investment Company Delaware6
  • Reading Company, LLC [Virginia] Virginia6
  • Sandusky Dock Corporation Virginia6
  • South Western Rail Road Company, The Georgia6
  • Southern Rail Terminals of North Carolina, Inc. North Carolina6
  • Southern Rail Terminals, Inc. Georgia6
  • Southern Region Industrial Realty, Inc. Georgia6
  • Southern Region Materials Supply, Inc. Georgia6
  • State University Railroad Company North Carolina6
  • T-Cubed of North America, LLC Delaware6
  • Thoroughbred Emissions Research, LLC Virginia6
  • Thoroughbred Funding, Inc. Virginia6
  • Thoroughbred Technology and Telecommunications, LLC Virginia6
  • Triple Crown Services, Inc Virginia6
  • Virginia Holding Corporation Virginia6
  • Virginia and Southwestern Railway Company Virginia6
  • Westlake Land Management, Inc. Florida6
  • Wheelersburg Terminal LLC Virginia6
  • Yadkin Railroad Company North Carolina6
  • Yadkin Railroad Investment LLC North Carolina6

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 23, 20268-K Results of operations; Regulation FD disclosure98
  2. Jun 1, 20268-K Executive or director change; Regulation FD disclosure99
  3. May 8, 20268-K Shareholder vote100
  4. Apr 24, 20268-K Results of operations; Regulation FD disclosure101
  5. Apr 2, 20268-K Entered a material agreement102
  6. Jan 29, 20268-K Results of operations; Regulation FD disclosure103
  7. Dec 19, 20258-K Regulation FD disclosure104
  8. Nov 17, 20258-K Shareholder vote; Other events105
  9. Nov 6, 20258-K Other events106
  10. Oct 23, 20258-K Results of operations; Regulation FD disclosure107
  11. Sep 29, 20258-K Executive or director change108
  12. Jul 29, 20258-K Other events109
  13. Dec 12, 2024New chief executive Mark R. George becomes CEO17
  14. Jun 1, 2015New chief executive James A. Squires becomes CEO1
  15. Nov 2013New chief executive Alan H. Shaw becomes CEO1
  16. Jan 30, 2006New chief executive David R. Goode becomes CEO20
  17. Jan 1, 2004New chief executive Charles Moorman becomes CEO1
  18. Sep 1, 1992New chief executive David R. Goode becomes CEO1
  19. Jan 2, 1990Went public Listed on NYSE1
  20. 1987New chief executive Arnold B. McKinnon becomes CEO1
  21. 1982New chief executive Robert B. Claytor becomes CEO1
  22. 1980Founded Founded1

Calendar

Coming up

  1. Oct 22, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $3.30 a share, on Oct 23, 2025.110

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results98
  2. Apr 24, 2026Reported quarterly or annual results101
  3. Jan 29, 2026Reported quarterly or annual results103
  4. Oct 23, 2025Reported quarterly or annual results107
  5. Jul 29, 2025Reported quarterly or annual results111
  6. Apr 23, 2025Reported quarterly or annual results112
  7. Jan 29, 2025Reported quarterly or annual results113
  8. Oct 22, 2024Reported quarterly or annual results114

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

906 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 501 insider forms, 13 large holders, 303 other. The latest 20:

  1. Oct 9, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Sep 15, 20264 EDGAR
  5. Aug 24, 20264 EDGAR
  6. Aug 24, 20264 EDGAR
  7. Aug 24, 20264 EDGAR
  8. Aug 24, 20264 EDGAR
  9. Aug 24, 20264 EDGAR
  10. Aug 24, 20264 EDGAR
  11. Aug 24, 20264 EDGAR
  12. Aug 24, 20264 EDGAR
  13. Aug 24, 20264 EDGAR
  14. Aug 24, 20264 EDGAR
  15. Aug 24, 20264 EDGAR
  16. Jul 29, 20264 EDGAR
  17. Jul 23, 202610-Q EDGAR
  18. Jul 23, 20268-K EDGAR
  19. Jul 1, 20264 EDGAR
  20. Jul 1, 20264 EDGAR

The 906 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

38 open-market trades by officers, directors and large owners since October 2021: 21 buys and 17 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 5, 2025Clyburn William Jr.DirectorBuy204$294.79$60.1KForm 4
Nov 19, 2025Bhatt AnilEVP & CIDOSale900$281.60$253.4KForm 4
Nov 5, 2025Fahmy SamehDirectorBuy1,650$282.97$466.9KForm 4
Oct 27, 2025ANDERSON RICHARD HDirectorBuy2,600$281.86$732.8KForm 4
Jan 31, 2025LAMPHERE GILBERT HDirectorBuy607$259.86$157.7KForm 4
Dec 13, 2024ANDERSON RICHARD HDirectorBuy400$248.65$99.5KForm 4
Dec 13, 2024Clyburn William Jr.DirectorBuy201$248.41$49.9KForm 4
Dec 12, 2024Fahmy SamehDirectorBuy350$249.37$87.3KForm 4
Dec 11, 2024George Mark RPresident & CEOBuy200$249.84$50.0KForm 4
Oct 24, 2024Fahmy SamehDirectorBuy1,000$255.00$255.0KForm 4
Oct 24, 2024ANDERSON RICHARD HDirectorBuy1,000$257.85$257.9KForm 4
Sep 13, 2024Shaw Alan H.Sale51,325$255.98$13.1MForm 4
Aug 2, 2024Fahmy SamehDirectorBuy300$241.65$72.5KForm 4
Aug 1, 2024Fahmy SamehDirectorBuy700$245.15$171.6KForm 4
Jul 29, 2024Nag Nabanita CEVP Corp Affairs, CLO&Corp SecSale355$249.38$88.5KForm 4
Jul 29, 2024ANDERSON RICHARD HDirectorBuy2,000$247.48$495.0KForm 4
Jun 14, 2024Fahmy SamehDirectorBuy2,000$219.25$438.5KForm 4
Jun 3, 2024Fahmy SamehDirectorBuy1,500$222.17$333.3KForm 4
May 31, 2024Fahmy SamehDirectorBuy500$222.20$111.1KForm 4
May 30, 2024KELLEHER THOMAS COLMDirectorBuy2,282$219.96$502.0KForm 4

All 38 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Mark R. George59$1.1M$16.2M119
2025Claude E. Elkins$675.0K$6.9M119
2025John F. Orr$750.0K$5.6M119
2025Jason A. Zampi$650.0K$4.9M119
2025Anil Bhatt$650.0K$4.4M119
2024President & Chief$826.0K$9.0M119
2024Executive VicePresident &$417.4K$2.0M119
2023Chief Commercial Officer$600.0K$4.0M119
2023Executive Officer$675.0K$3.4M119

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.16,000,346$5.0B0.1%+724,235
Vanguard Capital Management LLC14,666,136$4.6B0.1%+79,477
State Street Corp10,242,817$3.2B0.1%+408,771
Vanguard Portfolio Management LLC7,215,898$2.3B0.1%+3,190,005
Millennium Management LLC5,201,728$1.6B1.1%+617,642
Geode Capital Management, LLC5,114,278$1.6B0.1%+38,090
Bank Of America Corp /de/3,111,914$979.0M0.1%−89,179
Norges Bank3,040,628$956.6M0.1%New
Pentwater Capital Management LP2,775,000$873.0M7.0%−445,000
Northern Trust Corp2,614,406$822.5M0.1%−23,262
Morgan Stanley2,611,985$821.7M0.0%−15,435
D. E. Shaw & Co., Inc.2,601,202$818.3M0.5%+337,722
Dodge & Cox2,508,128$789.0M0.4%−3,749,622
Dimensional Fund Advisors LP2,259,711$710.9M0.1%+153
Capital World Investors2,011,919$632.9M0.1%+5,247
Goldman Sachs Group Inc1,888,947$594.2M0.1%+263,202
Hbk Investments L P1,750,000$550.5M7.1%+13,644
Arrowstreet Capital, Limited Partnership1,732,049$544.9M0.2%+105,361
London Co Of Virginia1,652,991$520.0M3.0%−47,306
Legal & General Group Plc1,599,203$503.1M0.1%−110,202
Citadel Advisors LLC1,585,467$498.8M0.3%−1,034,915
Amundi1,540,605$484.7M0.1%−686,280
American Century Companies Inc1,526,249$480.1M0.2%−502,687
Charles Schwab Investment Management Inc1,483,414$466.7M0.1%+4,519
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.1,427,631$449.1M0.5%+113,633

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

37 trades disclosed by members of Congress, the latest 25. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 27, 2026Alan ArmstrongRepublican, SenateBuy$1,001 - $15,000−7.0%Report
Dec 18, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000+2.8%Report
Nov 13, 2025Julie JohnsonDemocratic, HousePartial sale$1,001 - $15,000+0.3%Report
Sep 23, 2025Val T. HoyleDemocratic, HouseSale$1,001 - $15,000+5.2%Report
Aug 14, 2025Julie JohnsonDemocratic, HousePartial sale$1,001 - $15,000+4.7%Report
May 5, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+9.2%Report
May 5, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+9.2%Report
Apr 11, 2025Jefferson ShreveRepublican, HouseSale$15,001 - $50,000−4.2%Report
Apr 9, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−5.6%Report
Apr 8, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000−2.0%Report
Apr 4, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+1.3%Report
Apr 1, 2025Julie JohnsonDemocratic, HousePartial sale$1,001 - $15,000+0.3%Report
Mar 31, 2025Jefferson ShreveRepublican, HouseBuy$15,001 - $50,000−0.8%Report
Mar 19, 2025Sheri BiggsRepublican, HouseSale$15,001 - $50,000−2.3%Report
Feb 25, 2025Julie JohnsonDemocratic, HousePartial sale$1,001 - $15,000−2.7%Report
Feb 24, 2025Jefferson ShreveRepublican, HouseSale$15,001 - $50,000−3.8%Report
Feb 12, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+0.0%Report
Jan 21, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+1.0%Report
Dec 24, 2024Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+8.2%Report
Sep 25, 2024Shelley Moore CapitoRepublican, SenateSale$1,001 - $15,000+1.9%Report
Aug 30, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+10.1%Report
Aug 22, 2024Shelley Moore CapitoRepublican, SenatePartial sale$1,001 - $15,000+1.8%Report
Jun 21, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−2.7%Report
Oct 16, 2023Tommy TubervilleRepublican, SenateSale$1,001 - $15,000+20.5%Report
Sep 8, 2023Lois FrankelDemocratic, HouseSale$1,001 - $15,000+7.2%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Norfolk Southern Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNORFOLK SOUTHERN CORP2
  • CIK0000702165
  • Employer ID (EIN)52-1188014120
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company120
  • Incorporated inVirginia120
  • Fiscal year endsDecember 312
  • Industry code (SIC)4011 Railroads, Line-Haul Operating2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address650 W Peachtree Street Nw, Atlanta, GA 303082
  • Phone470-463-68072
  • Shares outstanding224,608,373 as of Jun 30, 202612
  • Public float$57.5B as of Jun 30, 2025120
  • AuditorKPMG LLP, Atlanta, Georgia PCAOB ID 185; it also attests to the company’s internal control over financial reporting120
  • On EDGAR sinceJan 26, 19942
  • Filings4,476 in all: 4 (2,790), 8-K (465), 425 (216), DEFA14A (117), 10-Q (98), DFAN14A (66), SC 14D1/A (63), 3 (56)2
    All 58 form types

    11-K (52), 424B5 (48), 144 (46), 4/A (44), SC 13G/A (44), UPLOAD (36), CORRESP (31), DEF 14A (31), 10-K (26), FWP (25), 8-K/A (19), SC 13G (15), 424B3 (13), S-8 (13), 424B2 (12), NO ACT (12), 5 (9), SC 13E3/A (9), S-4 (8), SC 13D/A (8), 10-K405 (7), EFFECT (7), S-4/A (7), SD (7), S-3 (6), S-3ASR (6), 8-A12B (5), ARS (5), DEFC14A (5), PREC14A (5), PX14A6G (5), S-8 POS (5), CERTNYS (4), SC 14D1 (4), 3/A (3), PRE 14A (3), PRRN14A (3), S-3/A (3), 25 (2), SCHEDULE 13G/A (2), 10-K/A (1), 10-Q/A (1), 11-K/A (1), 15-12B (1), 305B2 (1), DEFM14A (1), POS AM (1), SC 13D (1), SC 13E3 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 9, 2026
    Quarterly report (10-Q) Jul 23, 2026
    Proxy statement (DEF 14A) Mar 27, 2026
    Latest 8-K (8-K) Jul 23, 2026

Securities registered for trading

ClassSymbolExchange
Norfolk Southern Corporation Common Stock (Par Value $1.00)NSCNew York Stock Exchange

From the cover page of the 10-K filed Feb 9, 2026 (Section 12(b) of the Exchange Act).120

Risk factors and legal proceedings

The risks Norfolk Southern Corporation names in Item 1A of its 10-K filed Feb 9, 2026: 28 risks under these headings, as written.120

  • RISKS RELATED TO THE MERGERS
  • The Mergers are subject to conditions, some or all of which may not be satisfied or completed on a timely basis, if at all. Failure to complete the Mergers could have material adverse effects on the Company.
  • The Mergers are subject to the receipt of the requisite regulatory approvals, which requisite regulatory approvals may never be obtained, therefore preventing completion of the Mergers. In addition, in granting such approvals, regulatory authorities may impose conditions that could have a significant adverse effect on the Company or the combined company and the expected benefits of the Mergers therefore preventing completion of the Mergers.
  • The Company is subject to business uncertainties and contractual restrictions while the Mergers are pending, which could adversely affect the Company’s business and operations.
  • Uncertainties associated with the Mergers may cause a loss of management personnel and other key employees, and the Company may have difficulty attracting and motivating management personnel and other key employees.
  • INCIDENT RISKS
  • The costs, liabilities, fines, penalties, and/or financial impact resulting from or related to the Incident or the Incident Proceedings have been significant to date, may exceed expected or accrued amounts, and have and can be expected to continue to negatively affect our financial results.
  • New or additional governmental regulation and/or operational changes resulting from or related to the Incident or the Incident Proceedings may negatively impact us, our customers, the rail industry, or the markets we serve.
  • REGULATORY AND LEGISLATIVE RISKS
  • Governmental legislation, regulation, and Executive Orders over commercial, operational, tax, safety, security, or cybersecurity matters could negatively affect us, our customers, the rail industry, or the markets we serve.
  • Federal and state environmental laws and regulations could negatively impact us and our operations.
  • U.S. international trade relationships may adversely impact our customers, our industry, and our business.
The other 19 risks
  • OPERATIONAL RISKS
  • A significant adverse event on our network may significantly impede our ability to operate and serve our customers.
  • If we are unable to successfully execute on our strategic initiatives, our business and future results of operations may suffer.
  • As a common carrier by rail, we must offer to transport hazardous materials, which exposes us to significant costs and claims.
  • We face competition from other transportation providers.
  • Capacity constraints could negatively impact our service and operating efficiency.
  • Constraints on the supply chain or the operations of carriers with which we interchange may adversely affect our operations.
  • We may be negatively affected by terrorism or war.
  • We may be negatively affected by supply constraints resulting from disruptions in our fuel markets or supplier markets.
  • We may be negatively affected by energy prices.
  • Pandemics, epidemics, or endemic diseases could further negatively impact us, our customers, our supply chain, and our operations.
  • Our business is capital intensive, and we must make capital decisions based upon expectations of future usage of our assets.
  • TECHNOLOGY RISKS
  • A significant cybersecurity incident or other disruption to our technology infrastructure resulting from internal and external threats could disrupt our business operations.
  • Our business may be seriously harmed if we fail to develop, implement, maintain, upgrade, enhance, protect and integrate our information or operational technology systems.
  • LITIGATION RISKS
  • We may be subject to various claims and lawsuits that could result in significant expenditures.
  • HUMAN CAPITAL RISKS
  • Failure to attract, retain, and transition key executive officers, or skilled professional or technical employees could adversely impact our business and operations.
  • The vast majority of our employees belong to labor unions, and the renegotiation of labor agreements or any provisions thereof, or any strikes or work stoppages (including any entered into in connection with any such negotiations), could adversely affect our operations.
  • CLIMATE CHANGE RISKS
  • Severe weather and disasters have caused, and could again cause, significant business interruptions and expenditures.
  • MACROECONOMIC AND MARKET RISKS
  • We may be negatively impacted by changes in general economic conditions.
  • The state of capital markets could adversely affect our liquidity.

Legal proceedings

For information on our legal proceedings, see Note 19 “Commitments and Contingencies” in Item 8 “Notes to Consolidated Financial Statements.”

The opening of Item 3, Legal Proceedings.120

Sources

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