Canadian National Railway Company

Canadian National Railway Company

CNR.TO
Canadian National Railway CompanyCA flagToronto Stock Exchange
165.97
CAD
-1.85
- -
100.68BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
12.54
14.8
15.75
15.51
17.3
19.5
20.72
19.43
20.43
24.92
25.59
26.91
27.77
27.96
Basic EPS, GAAP
3.1
3.86
4.42
4.69
7.28
5.89
5.85
4.98
6.91
7.46
8.55
7.02
7.58
7.61
Free Cash Flow per Basic Share
1.87
2.54
3.04
3.23
3.77
3.25
2.86
4.64
5.76
5.71
5.74
4.97
5.44
5.78
Dividend per Share
0.86
1
1.24
1.49
1.64
1.81
2.14
2.3
2.46
2.92
3.15
3.37
3.54
3.57
Book Value per Share
17.3
18.85
20.41
21.87
25.44
27.58
29.56
32.14
34.85
33.72
33.7
34.46
35.9
35.85
Tangible Book Value per Share
15.29
16.35
18.58
19.04
22.02
23.92
24.74
27.32
31.81
30.85
30.28
32.92
34.26
33.92
Basic Weighted Avg Shares
843
820
801
776
754
734
720
711
708
686
658
634
623
618
Sales/Revenue/Turnover
10,575
12,134
12,611
12,037
13,041
14,321
14,917
13,819
14,477
17,107
16,828
17,046
17,304
17,280
Operating Margin (%)
36.62
38.11
41.76
41.8
40.2
38.36
37.49
38.09
38.43
39.98
39.2
37.11
38.07
37.77
Depreciation Expense
980
1,050
1,158
1,225
1,281
1,329
1,562
1,589
1,598
1,729
1,817
1,892
1,938
1,929
Net Income, GAAP
2,612
3,167
3,538
3,640
5,484
4,328
4,216
3,545
4,899
5,118
5,625
4,448
4,720
4,705
Effective Tax Rate (%)
27.22
27.36
27.41
26.12
- -
23.83
22.34
21.59
22.75
24.32
13.3
23.99
24.65
24.82
Profit Margin (%)
24.7
26.1
28.05
30.24
42.05
30.22
28.26
25.65
33.84
29.92
33.43
26.09
27.28
27.23
Working Capital
-521
-208
-845
-901
-1,793
-772
-1,457
-172
306
-625
-1,946
-1,357
-1,225
-1,512
LT Debt
6,819
7,828
8,985
9,448
8,748
11,385
12,245
12,307
12,299
14,713
16,431
20,071
20,616
20,765
Total Equity
12,953
13,470
14,950
14,841
16,656
17,641
18,041
19,651
22,744
21,384
20,117
21,051
21,568
21,451
Return on Invested Capital (%)
14.42
15.65
16.04
14.44
- -
14.41
13.81
12.57
12.44
14.07
14.87
11.72
11.5
11.32
Return on Capital (%)
13.17
14.86
15.24
14.61
- -
14.96
13.55
11.09
14.56
14.44
15.61
12.17
12.4
12.23
Return on Common Equity (%)
18.1
21.08
22.25
21.85
30.34
21.95
20.3
16.06
20.61
21.4
24.83
20.22
21.36
21.12

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1,566
1,014
1,751
LT Borrowings
19,554
20,300
20,448
LT Finance Leases
339
316
317
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
618
613
608
Market Capitalization
82,423
84,645
88,490

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2,512
2,471
3,048
Cash, Cash Equivalents & STI
214
350
573
Accounts Receivable, Net
1,246
1,117
1,252
Inventories
780
734
831
Total Current Liabilities
4,173
3,696
4,560
Payables & Accruals
2,607
2,546
2,809
ST Debt
1,566
1,014
1,751
Deferred Revenue
- -
7
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.95%
2.19%
2.46%
Free Cash Flow
5.41%
1.41%
7.65%
Net Income, GAAP
5.17%
7.55%
6.12%
Sales/Revenue/Turnover
3.45%
4.82%
1.51%
Total Cash Common Dividend
8.4%
6.3%
3.27%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,249
4,329
4,110
4,358
17,046
2025
4,403
4,272
4,165
4,464
17,304
2026
4,379
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.72
1.75
1.72
1.82
7.02
2025
1.85
1.87
- -
2.03
7.58
2026
1.87
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.84
0.84
0.84
0.84
3.37
2025
0.89
0.89
- -
0.89
3.54
2026
0.91
- -
- -
- -
- -

Company Description

APIChat
CEO
Tracy A. Robinson
Full Time Employees
24,911
Sector
Industrials
Industry
Railroads
Address
935 de La Gauchetiere Street West Montreal QC Canada H3B 2M9
IPO Date
Nov 22, 1996
Website
cn.ca
Business
Canadian National Railway Company (CN) operates North America's largest freight rail network, spanning approximately 20,000 route-miles across Canada from Halifax to Vancouver and into 16 U.S. states in the Midwestern and Southern regions, connecting three coasts and transporting over C$250 billion worth of goods annually including resource products, manufactured goods, and consumer products; core services encompass rail freight in commodities such as grain and grain products, forest products, coal, sulfur, fertilizers, intermodal containers, automotive, petroleum and chemicals, metals and minerals, temperature-controlled cargo, and dimensional loads; additional offerings include integrated logistics solutions like intermodal container services with 23 terminals, door-to-door shipping, customs brokerage, transload and distribution, trucking via CN subsidiary CNTL, and specialized equipment such as flatbed trucks and on-deck mobile services. Founded in 1919 through the amalgamation of several government-nationalized railways and privatized in 1995, CN is headquartered at 935 de La Gauchetière Street West in Montreal, Quebec, and employs around 24,000 railroaders while serving diverse sectors from resource extraction to manufacturing across North America. In recent developments, CN completed its acquisition of the Iowa Northern Railway in January 2025 following Surface Transportation Board approval, integrating operations to enhance grain, ethanol, and biofuel transport in Iowa; the company announced a C$3.4 billion capital investment program for 2025 focused on network capacity, infrastructure upgrades, and safety including $110 million in Wisconsin, $50 million in Louisiana, and similar multimillion-dollar commitments across Michigan, Minnesota, Illinois, and other regions; strategic partnerships expanded with a September 2025 collaboration with CSX for new intermodal rail service into Nashville and an October 2025 alliance with Congebec for cold chain logistics; CN also launched initiatives like a medium horsepower hybrid locomotive pilot, expanded its firefighting fleet, and appointed Madeleine Paquin to its board of directors in September 2025.

Company News

APIChat
  • Le CN affirme que le STB a eu raison de suspendre l’examen de la fusion de UP-NS et d’exiger de plus amples renseignements

  • CN Says STB Was Right to Freeze the UP-NS Merger and Demand More Information

  • CN Presents the 2025 Safe Handling Award to 194 Rail Shippers

  • Le CN décerne le Prix de manutention sécuritaire 2025 à 194 expéditeurs ferroviaires

  • Déclaration du CN concernant la décision du STB de rejeter l’accord de fusion incomplète de UP et NS

  • CN Reports November Grain Movement

  • Bâtir un avenir durable : le CN publie son rapport sur le développement durable

  • Le CN célèbre avec fierté le 30e anniversaire de sa privatisation