Which has the lower trailing P/E, CNI or CP?

CNI has the lower trailing P/E: CNI trades at 21.65 and CP at 28.18. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, CNI or CP?

Over the past five years, CP grew revenue faster — CNI at a 2.73% CAGR versus CP at 12.34%.

Does CNI or CP pay a bigger dividend?

CNI yields 2.14% and CP yields 0.77% based on trailing dividends and the latest price.

Is CNI or CP more profitable?

CNI runs the higher net margin — CNI at 26.92% versus CP at 25.04%.

How have CNI and CP total returns compared?

Over the past 10 years, CNI delivered 9.08% and CP delivered 12.68% annualized total return. Past performance doesn't predict future results.

Canadian National Railway Company (CNI) vs Canadian Pacific Kansas City Ltd. (CP)

A side-by-side comparison of Canadian National Railway Company and Canadian Pacific Kansas City Ltd. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.

CNI

Canadian National Railway Company

$73.15B

$120.93IndustrialsDelayed quote: Sep 25, 2026, 4:00 PM EDT

Canadian Pacific Kansas City Ltd.

$76.40B

$86.91IndustrialsDelayed quote: Sep 25, 2026, 4:00 PM EDT

Total return — CNI vs CP

growth of $100 · dividends reinvested · last 10y

CNI +136.7% (+9.0%/yr)CP +216.4% (+12.2%/yr)CP compounded faster over this window

CNI CP

CNI vs CP: by the numbers

•CP is the larger company ($76.40B vs $73.15B market cap).
•CNI trades at the lower trailing earnings multiple (21.65 vs 28.18 P/E), one valuation lens rather than an overall verdict.
•CNI converts more revenue to profit (26.92% vs 25.04% net margin).
•CP grew revenue faster over the past five years (12.34% vs 2.73% CAGR).
•CNI pays the higher dividend yield (2.14% vs 0.77%).

Metrics side by side

Valuation

Metric	CNI	CP
P/E ratio	21.65	28.18
P/S ratio	5.74	6.90
P/B ratio	4.74	2.33
EV / EBITDA	14.41	16.90
FCF yield	3.48%	2.40%

Profitability

Metric	CNI	CP
Gross margin	44.43%	53.42%
Operating margin	37.54%	36.84%
Net margin	26.92%	25.04%
ROE	22.25%	8.45%
ROIC	8.89%	5.02%

Dividends

Metric	CNI	CP
Dividend yield	2.14%	0.77%
Payout ratio	46.78%	22.14%

Growth (annualized)

Metric	CNI	CP
Revenue CAGR (5Y)	2.73%	12.34%
EPS CAGR (5Y)	7.04%	3.04%
FCF CAGR (5Y)	-0.98%	12.22%
Total return CAGR (5Y)	2.72%	6.24%

Frequently asked

Which has the lower trailing P/E, CNI or CP?: CNI has the lower trailing P/E: CNI trades at 21.65 and CP at 28.18. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, CNI or CP?: Over the past five years, CP grew revenue faster — CNI at a 2.73% CAGR versus CP at 12.34%.
Does CNI or CP pay a bigger dividend?: CNI yields 2.14% and CP yields 0.77% based on trailing dividends and the latest price.
Is CNI or CP more profitable?: CNI runs the higher net margin — CNI at 26.92% versus CP at 25.04%.
How have CNI and CP total returns compared?: Over the past 10 years, CNI delivered 9.08% and CP delivered 12.68% annualized total return. Past performance doesn't predict future results.

Go deeper

Full CNI analysis Full CP analysis Interactive comparison tool

Dig into the metrics

Canadian National Railway P/E ratio Canadian Pacific Kansas City P/E ratio Canadian National Railway dividend yield Canadian Pacific Kansas City dividend yield Canadian National Railway ROE Canadian Pacific Kansas City ROE Canadian National Railway operating margin Canadian Pacific Kansas City operating margin Canadian National Railway revenue growth Canadian Pacific Kansas City revenue growth Canadian National Railway free cash flow Canadian Pacific Kansas City free cash flow

Canadian National Railway & Canadian Pacific Kansas City appear in these rankings

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Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.