Company / Operating Margin
Norfolk Southern Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
35.8%
FY2025
5-year range
23.4% / 35.8%
FY2021-FY2025
Trend
+6.5%
vs FY2024
Sector context
#8 of 304
Industrials
What the data says
Among 304 Industrials companies, Norfolk Southern is in the top 3% for operating margin. Operating Margin has fluctuated over the past 10 years, ranging from 23.4% in FY2023 to 136.8% in FY2017.
Based on SEC 10-K filings.
35.8% in FY2025 with a 5-year CAGR of +1.2%. Top quartile in the Industrials sector.
Improved from 23.4% to 35.8% over the past 2 years.
Industrials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +5.1pp
- 5-Year Change
- +1.2pp
- 10-Year Change
- -
Sector benchmark
Top 3% in IndustrialsTop 3% of 304This company 35.8% Sector average -842.8%
▼
+104.2% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 6.5% year-over-year.
- Currently 878.5pp above the Industrials sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2023.
Company context
Key Data Points
- Altman Z-Score 1.03 (distress zone, below 1.8 threshold)
- Strong profit margin: 24.2%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 35.8% | +6.5% |
| FY2024 | 33.6% | +43.2% |
| FY2023 | 23.4% | -23.5% |
| FY2022 | 30.7% | -13.1% |
| FY2021 | 35.3% | +2.2% |
| FY2020 | 34.5% | +3.5% |
| FY2019 | 33.4% | +9.7% |
| FY2018 | 30.4% | -77.8% |
| FY2017 | 136.8% | +349.5% |
| FY2016 | 30.4% | +10.9% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026