Canadian National Railway Company (CNI)CNICanadian National Railway Company

Financials

Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	12.537B	3.156B	3.248B	2.995B	3.138B	3.059B	3.028B	3.037B	3.166B
Cost of Goods Sold	6.995B	1.805B	1.744B	1.650B	1.796B	1.825B	1.771B	1.809B	1.859B
Gross Profit	5.542B	1.351B	1.504B	1.345B	1.342B	1.235B	1.257B	1.228B	1.307B
Gross Profit Margin	42.8%	42.8%	46.3%	44.9%	42.8%	40.4%	41.5%	40.4%	41.3%
Total Operating Expenses	806.635M	234.974M	243.021M	189.820M	138.821M	116.038M	125.777M	108.640M	167.486M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	667.815M	234.974M	243.021M	189.820M	0.00	0.00	0.00	-84.252M	-83.377M
Operating Income (EBIT)	4.734B	1.116B	1.261B	1.153B	1.203B	1.119B	1.131B	1.120B	1.139B
Operating Margin	35.4%	35.4%	38.8%	38.5%	38.3%	36.6%	37.4%	36.9%	36.0%
Income Before Tax (EBT)	4.539B	1.096B	1.214B	1.082B	1.147B	1.061B	1.048B	1.041B	1.085B
Interest Income	—	—	—	—	—	—	—	—	—
Interest Expense	616.801M	168.662M	170.260M	117.024M	160.856M	161.898M	160.522M	169.982M	160.904M
Other Income/Expense	-194.387M	-20.182M	-46.567M	-71.082M	-56.556M	-57.672M	-83.388M	-78.339M	-54.122M
Net Income	3.413B	826.011M	908.053M	817.802M	860.834M	806.709M	796.355M	801.869M	814.757M
Income Tax Expense	1.127B	270.292M	306.322M	264.224M	285.721M	254.311M	251.554M	239.452M	270.611M
Net Profit Margin	26.2%	26.2%	28.0%	27.3%	27.4%	26.4%	26.3%	26.4%	25.7%
EBITDA	6.133B	1.465B	1.593B	1.513B	1.562B	1.461B	1.471B	1.471B	1.480B
EBITDA Margin	46.4%	46.4%	49.0%	50.5%	49.8%	47.8%	48.6%	48.4%	46.8%
Depreciation & Amortization	1.399B	348.856M	331.789M	359.508M	359.171M	342.556M	339.806M	351.049M	340.823M
EPS Basic	5.52	1.35	1.48	1.31	1.37	1.29	1.26	1.27	1.28
EPS Diluted	5.51	1.35	1.47	1.31	1.37	1.29	1.26	1.27	1.28
Shares Outstanding	611.300M	611.300M	615.400M	621.900M	627.400M	627.800M	635.000M	629.600M	635.000M
Diluted Shares Outstanding	611.900M	611.900M	616.000M	622.400M	628.000M	628.300M	629.500M	630.500M	636.200M

Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	12.591B	11.845B	12.697B	12.620B	11.446B	10.845B	11.477B	10.494B
Cost of Goods Sold	6.941B	7.004B	7.301B	7.164B	6.647B	6.316B	6.795B	6.125B
Gross Profit	5.649B	4.841B	5.395B	5.456B	4.798B	4.529B	4.682B	4.369B
Gross Profit Margin	44.9%	40.9%	42.5%	43.2%	41.9%	41.8%	40.8%	41.6%
Total Operating Expenses	856.393M	500.328M	417.993M	410.161M	358.142M	780.091M	131.567M	122.378M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	856.393M	0.00	-361.406M	-367.375M	-321.774M	-229.162M	-246.977M	-221.306M
Operating Income (EBIT)	4.793B	4.341B	4.977B	5.046B	4.440B	3.749B	4.303B	4.025B
Operating Margin	38.1%	36.6%	39.2%	40.0%	38.8%	34.6%	37.5%	38.4%
Income Before Tax (EBT)	4.558B	4.067B	4.895B	4.989B	5.014B	3.548B	4.177B	4.164B
Interest Income	—	—	—	—	—	—	—	—
Interest Expense	664.305M	619.156M	544.749M	404.260M	482.266M	434.779M	413.937M	358.339M
Other Income/Expense	-235.017M	-274.486M	-82.240M	-56.803M	573.976M	-200.909M	-126.182M	138.499M
Net Income	3.434B	3.091B	4.244B	3.776B	3.873B	2.782B	3.244B	3.172B
Income Tax Expense	1.123B	975.640M	651.134M	1.214B	1.141B	765.965M	933.282M	992.211M
Net Profit Margin	27.3%	26.1%	33.4%	29.9%	33.8%	25.7%	28.3%	30.2%
EBITDA	6.203B	5.656B	6.348B	6.321B	5.703B	4.996B	5.505B	4.999B
EBITDA Margin	49.3%	47.7%	50.0%	50.1%	49.8%	46.1%	48.0%	47.6%
Depreciation & Amortization	1.410B	1.315B	1.371B	1.275B	1.263B	1.247B	1.202B	973.891M
EPS Basic	5.51	4.88	6.44	7.39	6.97	3.93	4.50	4.32
EPS Diluted	5.51	4.87	6.44	5.49	5.46	3.92	4.51	4.30
Shares Outstanding	623.100M	633.500M	657.700M	687.903M	710.000M	713.280M	720.494M	737.308M
Diluted Shares Outstanding	623.700M	634.500M	659.100M	688.300M	710.300M	713.000M	719.150M	737.700M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Canadian National Railway Company

Canadian National Railway Company (CNI), together with its subsidiary operations, functions as a key player in the railway and related logistics industry. The firm handles a wide array of freight, including petroleum products and chemicals, agricultural commodities such as grain and fertilizers, various minerals like coal and metals, timber and paper goods, intermodal containers, and finished automobiles. Its services cater to a broad base of clients, from international exporters and importers to retail chains, agricultural growers, and industrial manufacturers. CNI boasts a substantial rail infrastructure, with approximately 19,500 miles of track extending across both Canada and the United States. Additionally, the company provides diverse ancillary services, encompassing marine terminal management (vessels and docks), cargo transshipment and distribution, specialized automotive supply chain solutions, and comprehensive freight management and forwarding. Founded in 1919, Canadian National Railway Company is based in Montreal, Canada.

Montreal, QC

24,911 employees

www.cn.ca

Industrials / Railroads

Sector: Industrials
Industry: Railroads
CEO: Tracy A. Robinson

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