Tearsheet
Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. CSX Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

CSX (CSX)

Market Price (9/18/2025): $32.79 | Market Cap: $61.2 Bil
Sector: Industrials | Industry: Rail Transportation

CSX (CSX)

Market Price (9/18/2025): $32.79
Market Cap: $61.2 Bil
Sector: Industrials
Industry: Rail Transportation

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%		 Weak multi-year price returns
2Y Excs Rtn is -37%, 3Y Excs Rtn is -56%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.6%, Rev Chg QQuarterly Revenue Change % is -3.4%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 35%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 5.0 Bil, FCF LTM is 2.0 Bil		  
3 Low stock price volatility
Vol 12M is 26%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 35%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 5.0 Bil, FCF LTM is 2.0 Bil
3 Low stock price volatility
Vol 12M is 26%
4 Weak multi-year price returns
2Y Excs Rtn is -37%, 3Y Excs Rtn is -56%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.6%, Rev Chg QQuarterly Revenue Change % is -3.4%

Market Valuation

 9/18/252024202320222021
Share Price CYE$32.79$31.88$33.79$29.77$35.68
Market Cap CYE ($ Bil)61.261.166.461.878.9
Total Debt ($ Bil)19.719.019.018.516.8
Total Cash ($ Bil)0.41.01.42.12.3
Enterprise Value ($ Bil)80.580.185.480.395.7
Valuation Ratios     
P/S TTM4.34.34.84.56.8
P/EBIT TTM12.511.612.310.914.9
P/E TTM19.718.019.016.122.4
Sector Ratios     
P/S TTM (Sector)1.71.41.41.11.6
P/EBIT TTM (Sector)11.310.210.08.312.1
P/E TTM (Sector)16.613.713.911.215.6
 9/18/2520242023
Share Price CYE$32.79$31.88$33.79
Market Cap CYE ($ Bil)61.261.166.4
Total Debt ($ Bil)19.719.019.0
Total Cash ($ Bil)0.41.01.4
Enterprise Value ($ Bil)80.580.185.4
Valuation Ratios   
P/S TTM4.34.34.8
P/EBIT TTM12.511.612.3
P/E TTM19.718.019.0
Sector Ratios   
P/S TTM (Sector)1.71.41.4
P/EBIT TTM (Sector)11.310.210.0
P/E TTM (Sector)16.613.713.9

Market Cap Chart

Business Description

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
CSX Return27%26%-17%14%-6%3%45%
Peers Return23%25%-16%11%-3%7%49%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: UNP, NSC, CSX. See CSX Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Interactive Breakdown

CSX Interactive Breakdown Analysis

Better Bets than CSX (CSX)

 CSXBetter Performance than CSX
MetricValueIndustry (Rail Transportation)
Rev Chg LTM-3.3%UNP (1.1%), CP (4.8%), NSC (0.7%), CNI (0.6%), SWVL (22.5%)
Rev Chg 3Y Avg0.6%UNP (1.4%), CP (23.8%), NSC (1.0%), CNI (3.9%), FSTR (2.6%)
Op Mgn LTM34.9%UNP (40.3%), CP (36.4%), NSC (42.1%), CNI (37.3%)
CFO/Rev LTM35.1%UNP (40.4%), CP (36.8%), CNI (39.0%)
FCF/Rev LTM14.2%UNP (25.7%), CP (16.8%), NSC (16.6%), CNI (18.9%)
Total Yield6.2%UNP (7.9%), CP (7.1%), CNI (11.3%), FSTR (12.5%)
 CSXBetter Performance than CSX
MetricValueAll Other Sectors
Rev Chg LTM-3.3%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg0.6%NVDA (92.0%), MSFT (12.5%), AAPL (1.8%), GOOGL (10.2%), AMZN (11.3%)
Op Mgn LTM34.9%NVDA (58.1%), MSFT (45.6%), META (42.9%), AVGO (39.0%), LLY (43.0%)
CFO/Rev LTM35.1%NVDA (46.6%), MSFT (48.3%), GOOGL (36.0%), META (56.4%), AVGO (42.4%)
FCF/Rev LTM14.2%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), META (30.7%)
Total Yield6.2%JPM (6.5%), XOM (9.7%), JNJ (8.1%), BAC (7.1%), BABA (37.9%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1CSX Earnings Notes  
2How Does CSX Stack Up Against Its Peers?  
3Day 5 of Loss Streak for CSX Stock with -11% Return (vs. 1.3% YTD) [8/26/2025]Notification 
4Better Bet Than CSX Stock: Pay Less Than CSX To Get More From NSC Actionable 
5CSX Down 8.6% In A Month. How Confident Are You In The Stock?Return 
6CSX vs Cheniere Energy: Which Is A Better Investment?Counter-Intuitive Comparisons 
7CSX vs Willis Lease Finance: Which Is A Better Investment?Counter-Intuitive Comparisons 
8Better Bet Than CSX Stock: Pay Less Than CSX To Get More From UNP, NSC   
9Better Bet Than CSX Stock: Pay Less Than CSX To Get More From NSC, UNP   
10CSX Dip Buy Analysis  
11ARTICLES  
12How Does CSX Stack Up Against Its Peers? August 27th, 2025
13CSX Stock Down -11% after 5-Day Loss Streak August 26th, 2025
14Buy or Sell CSX Stock? August 26th, 2025
15Better Bet Than CSX Stock: Pay Less To Get More From NSC August 25th, 2025
16CSX Dropped 5.1% In A Day. Have You Fully Evaluated The Risk? August 25th, 2025
Title
0DASHBOARDS
1How Does CSX Stack Up Against Its Peers?
2CSX Stock Down -11% after 5-Day Loss Streak
3Buy or Sell CSX Stock?
4Better Bet Than CSX Stock: Pay Less To Get More From NSC
5CSX Dropped 5.1% In A Day. Have You Fully Evaluated The Risk?
6ARTICLES
7CSX Earnings Notes
8How Does CSX Stack Up Against Its Peers?
9Day 5 of Loss Streak for CSX Stock with -11% Return (vs. 1.3% YTD) [8/26/2025]
10Better Bet Than CSX Stock: Pay Less Than CSX To Get More From NSC 
11CSX Down 8.6% In A Month. How Confident Are You In The Stock?
12CSX vs Cheniere Energy: Which Is A Better Investment?
13CSX vs Willis Lease Finance: Which Is A Better Investment?
14Better Bet Than CSX Stock: Pay Less Than CSX To Get More From UNP, NSC 
15Better Bet Than CSX Stock: Pay Less Than CSX To Get More From NSC, UNP 
16CSX Dip Buy Analysis

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
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10SPRCSciSparc147.0%1141.7%

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1 Month Top Losers

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8JEM707 Cayman-87.4%-98.2%
9YAASYouxin Technology-83.3%-98.4%
10NEONNeonode-82.5%-51.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for CSX

Financials

CSXUNPNSCMedian
NameCSX Union Pa.Norfolk . 
Mkt Price32.77217.17278.00217.17
Mkt Cap61.2129.062.562.5
Rev LTM14,15524,39312,17814,155
Op Inc LTM4,9409,8375,1295,129
FCF LTM2,0066,2612,0242,024
FCF 3Y Avg2,6885,5291,5752,688
CFO LTM4,9649,8564,2044,964
CFO 3Y Avg5,2169,1543,8235,216

Growth & Margins

CSXUNPNSCMedian
NameCSX Union Pa.Norfolk . 
Rev Chg LTM-3.3%1.1%0.7%0.7%
Rev Chg 3Y Avg0.6%1.4%1.0%1.0%
Rev Chg Q-3.4%2.4%2.2%2.2%
QoQ Delta Rev Chg LTM-0.9%0.6%0.5%0.5%
Op Mgn LTM34.9%40.3%42.1%40.3%
Op Mgn 3Y Avg36.9%39.2%38.7%38.7%
QoQ Delta Op Mgn LTM-0.8%0.3%0.5%0.3%
CFO/Rev LTM35.1%40.4%34.5%35.1%
CFO/Rev 3Y Avg35.7%37.5%31.0%35.7%
FCF/Rev LTM14.2%25.7%16.6%16.6%
FCF/Rev 3Y Avg18.3%22.6%12.7%18.3%

Valuation

CSXUNPNSCMedian
NameCSX Union Pa.Norfolk . 
Mkt Cap61.2129.062.562.5
P/S4.35.35.15.1
P/EBIT12.512.712.212.5
P/E19.718.618.718.7
P/CFO12.313.114.913.1
Total Yield6.2%7.9%5.4%6.2%
Dividend Yield1.2%2.5%0.0%1.2%
FCF Yield 3Y Avg4.1%4.2%2.9%4.1%
D/E0.30.30.30.3
Net D/E0.30.30.30.3

Returns

CSXUNPNSCMedian
NameCSX Union Pa.Norfolk . 
1M Rtn-8.6%-0.7%-0.6%-0.7%
3M Rtn2.1%-1.6%10.4%2.1%
6M Rtn9.9%-7.0%19.8%9.9%
12M Rtn-2.3%-12.3%15.4%-2.3%
3Y Rtn16.0%9.9%27.4%16.0%
1M Excs Rtn-10.9%-3.1%-3.0%-3.1%
3M Excs Rtn-7.9%-11.3%1.2%-7.9%
6M Excs Rtn-8.4%-24.8%2.3%-8.4%
12M Excs Rtn-18.0%-28.1%-1.7%-18.0%
3Y Excs Rtn-56.4%-61.0%-41.6%-56.4%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/23/20254/16/20252/27/202510/17/20248/5/20244/18/20242/14/202410/20/20237/20/20234/20/20232/15/202310/21/2022
Key Financials Quarterly            
Total Revenue3,5743,4233,5393,6193,7013,6813,6803,5723,6993,7063,7303,895
Ebitda1,7321,4921,5651,8061,8861,7881,7531,7081,9031,8981,8291,994
Operating Income1,2831,0411,2611,3551,4481,3371,3361,2651,4541,4561,4141,552
Net Income8296467338949638808828289849879661,111
EPS0.440.340.390.460.500.450.450.420.490.480.490.52
Key Financials TTM            
Total Revenue TTM14,15514,28214,54014,68114,63414,63214,65714,70715,03015,14614,85314,550
Ebitda TTM6,5956,7497,0457,2337,1357,1527,2627,3387,6247,8197,5897,505
Operating Income TTM4,9405,1055,4015,4765,3865,3925,5115,5895,8765,9965,7955,787
Net Income TTM3,1023,2363,4703,6193,5533,5743,6813,7654,0484,2424,1144,082
Growth Rates Quarterly            
Total Revenue Growth-3.4%-7.0%-3.8%1.3%0.1%-0.7%-1.3%-8.3%-3.0%8.6%8.8%18.3%
EBITDA Growth-8.2%-16.6%-10.7%5.7%-0.9%-5.8%-4.2%-14.3%-9.3%13.8%4.8%9.4%
Operating Income Growth-11.4%-22.1%-5.6%7.1%-0.4%-8.2%-5.5%-18.5%-7.6%16.0%0.6%12.8%
Net Income Growth-13.9%-26.6%-16.9%8.0%-2.1%-10.8%-8.7%-25.5%-16.5%14.9%3.4%14.8%
Margins Quarterly            
EBITDA Margin48.5%43.6%44.2%49.9%51.0%48.6%47.6%47.8%51.4%51.2%49.0%51.2%
Operating Income Margin35.9%30.4%35.6%37.4%39.1%36.3%36.3%35.4%39.3%39.3%37.9%39.8%
Net Income Margin23.2%18.9%20.7%24.7%26.0%23.9%24.0%23.2%26.6%26.6%25.9%28.5%
Cash & Debt            
Total Cash3931,1471,0051,6561,2421,4851,4361,4391,0341,4692,0872,399
Total Debt19,65019,61518,98919,03519,00819,00219,02418,94918,39318,40018,53518,537
Net Debt / (Cash)19,25718,46817,98417,37917,76617,51717,58817,51017,35916,93116,44816,138
Cash Flows Quarterly            
FCF from Operations6351,2551,3881,6861,1071,0661,4891,5521,2221,2511,2711,725
Cash Flows TTM            
FCF from Operations TTM4,9645,4365,2475,3485,2145,3295,5145,2965,4695,4785,5265,535
Returns to Shareholders Quarterly            
Dividends243245230232233235216218222226207212
Share Repurchases4217511,0254025632475819718631,0671,0211,195
Return on Invested Capital (ROIC) Quarterly            
ROIC17.9%14.9%19.3%20.6%21.8%20.2%20.6%19.2%22.5%23.0%23.7%26.2%
Return on Invested Capital (ROIC) TTM            
ROIC TTM17.3%18.5%20.1%21.0%20.2%20.6%21.0%21.6%23.1%24.0%23.9%24.1%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Rail13,77513,88712,52210,58311,937
Trucking Revenue887968   
Elimination of intersegment revenues-5-2   
Total14,65714,85312,52210,58311,937


Operating Income by Segment
$ Mil20242023202220212020
Rail5,4675,902   
Trucking Revenue and Eliminations882966   
Trucking Expenses and Eliminations-850-914   
Total5,4995,954   


Assets by Segment
$ Mil20242023202220212020
Rail42,000    
Total42,000    


Price Behavior

CSX Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.410.480.680.750.730.79
Up Beta-0.78-0.51-0.010.720.850.89
Down Beta-0.010.470.940.710.630.70
Up Capture25%68%74%73%47%40%
Bmk +ve Days10223571142415
Stock +ve Days10193267130379
Down Capture203%149%111%89%81%95%
Bmk -ve Days11192754106334
Stock -ve Days11233159118370

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity29,137,821
Short Interest: % Change Since 81520256.0%
Average Daily Volume32,064,686
Days-to-Cover Short Interest1
Basic Shares Quantity1,867,000,000
Short % of Basic Shares1.6%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/20250.1%0.9%2.6%
4/16/20251.2%2.9%14.5%
1/23/2025-2.9%-2.4%-5.5%
10/16/2024-6.7%-5.3%0.5%
8/5/20242.6%1.5%6.0%
4/17/20240.7%-1.4%-0.7%
1/24/20241.8%3.8%11.5%
10/19/20230.7%-3.1%3.5%
...
SUMMARY STATS   
# Positive161217
# Negative8127
Median Positive1.7%3.7%5.1%
Median Negative-3.1%-2.4%-1.6%
Max Positive4.3%11.9%16.5%
Max Negative-6.7%-5.4%-12.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025723202510-Q 6/30/2025
3312025416202510-Q 3/31/2025
12312024227202510-K 12/31/2024
93020241017202410-Q 9/30/2024
6302024805202410-Q 6/30/2024
3312024418202410-Q 3/31/2024
12312023214202410-K 12/31/2023
93020231020202310-Q 9/30/2023
6302023720202310-Q 6/30/2023
3312023420202310-Q 3/31/2023
12312022215202310-K 12/31/2022
93020221021202210-Q 9/30/2022
6302022721202210-Q 6/30/2022
3312022421202210-Q 3/31/2022
12312021216202210-K 12/31/2021
93020211021202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Fortune StephenEVP - CD&TO3052025Sell31.411,50047,1152,636,524Form
1Goldman Nathan DEVP & CLO11202024Sell35.4048,5881,720,0157,185,881Form

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