Norfolk Southern (NSC) Debt/Equity Ratio: History & Chart

Norfolk Southern Corporation (NSC)NSCNorfolk Southern Corporation

About Norfolk Southern Corporation

Norfolk Southern Corporation (NSC), operating through its various subsidiaries, is a prominent rail transport provider in the United States. The company's core business involves the conveyance of raw materials, semi-finished goods, and completed merchandise across the nation. Its extensive freight services cover a broad spectrum of commodities. This includes a variety of agricultural and forestry products like grains (e.g., soybeans, wheat, corn), fertilizers, animal feeds, and diverse foodstuffs such as oils, flour, sweeteners, beverages, and canned goods, alongside lumber and paper products. NSC also handles a wide range of chemicals, from sulfur and petroleum derivatives to chlorine compounds, plastics, industrial chemicals, and sand. Furthermore, the company moves metals and construction supplies, including steel, aluminum, heavy machinery, cement, aggregates, and specialized military equipment. Transportation of both finished motor vehicles and automotive components is a significant segment, as is the consistent shipment of coal. Beyond its principal freight operations, Norfolk Southern facilitates global trade by connecting with various Atlantic and Gulf Coast ports for overseas cargo. The corporation also manages an expansive intermodal network and offers commuter passenger rail services. As of the close of 2021, the company's vast railway infrastructure extended over roughly 19,300 route miles, serving 22 states and the District of Columbia. Norfolk Southern Corporation, originally incorporated in 1980, is based in Atlanta, Georgia.

Atlanta, GA

19,300 employees

www.norfolksouthern.com

Industrials / Railroads

Sector: Industrials
Industry: Railroads
CEO: Mark R. George

View full financials

NSC Debt to Equity Ratio Metrics

DEBT TO EQUITY RATIO

1.02

DEBT TO EQUITY RATIO AVG TTM

1.10

DEBT TO EQUITY RATIO AVG 3Y

1.22

DEBT TO EQUITY RATIO AVG 5Y

1.17

DEBT TO EQUITY RATIO AVG 10Y

0.98

DEBT TO EQUITY RATIO AVG 15Y

0.92

DEBT TO EQUITY RATIO AVG 20Y

0.84

CURRENT VS TTM AVG

-7.17%

CURRENT VS 3Y AVG

-15.92%

CURRENT VS 5Y AVG

-12.77%

CURRENT VS 10Y AVG

+4.59%

CURRENT VS 15Y AVG

+11.68%

CURRENT VS 20Y AVG

+21.64%

SECTOR MEDIAN · INDUSTRIALS

0.62

median of 133 covered companies

CURRENT VS SECTOR MEDIAN

+64.89%

vs the sector median at left

NAME	MARKET CAP	DEBT TO EQUITY RATIO	TTM	3Y	5Y
Norfolk Southern Corporation (NSC)	$78.76B	1.02	1.10	1.22	1.17
Canadian National Railway Company (CNI)vs ›	$78.54B	1.01	1.02	0.93	0.83
Honeywell International Inc. (HON)vs ›	$77.06B	2.24	1.99	1.64	1.50
Northrop Grumman Corporation (NOC)vs ›	$77.03B	1.18	1.25	1.20	1.30
Illinois Tool Works Inc. (ITW)vs ›	$81.42B	2.78	2.61	2.64	2.56
Canadian Pacific Kansas City Ltd. (CP)vs ›	$81.99B	0.51	0.49	0.51	0.67
Cintas Corporation (CTAS)vs ›	$82.39B	0.53	0.55	0.60	0.67
Emerson Electric Co. (EMR)vs ›	$82.86B	0.68	0.54	0.63	0.70
FedEx Corporation (FDX)vs ›	$74.51B	1.36	1.35	1.38	1.42
United Parcel Service, Inc. (UPS)vs ›	$85.70B	1.99	1.76	1.56	8.38

NAME

MARKET CAP

DEBT TO EQUITY RATIO

TTM

Norfolk Southern Corporation (NSC)

$78.76B

1.02

1.10

1.22

1.17

Canadian National Railway Company (CNI)vs ›

$78.54B

1.01

1.02

0.93

0.83

Honeywell International Inc. (HON)vs ›

$77.06B

2.24

1.99

1.64

1.50

Northrop Grumman Corporation (NOC)vs ›

$77.03B

1.18

1.25

1.20

1.30

Illinois Tool Works Inc. (ITW)vs ›

$81.42B

2.78

2.61

2.64

2.56

Canadian Pacific Kansas City Ltd. (CP)vs ›

$81.99B

0.51

0.49

0.51

0.67

Cintas Corporation (CTAS)vs ›

$82.39B

0.53

0.55

0.60

0.67

Emerson Electric Co. (EMR)vs ›

$82.86B

0.68

0.54

0.63

0.70

FedEx Corporation (FDX)vs ›

$74.51B

1.36

1.35

1.38

1.42

United Parcel Service, Inc. (UPS)vs ›

$85.70B

1.99

1.76

1.56

8.38

Debt to Equity Ratio FAQ

What is the debt to equity ratio for Norfolk Southern Corporation (NSC)?

The debt to equity ratio for NSC stock is 1.02.

Is Norfolk Southern Corporation's debt to equity ratio high or low?

The debt to equity ratio of 1.02 is 13% below its 5-year average of 1.17, near the low end of its 5-year range (0.96–1.40).

What is the TTM average debt to equity ratio for Norfolk Southern Corporation (NSC)?

The TTM average debt to equity ratio for NSC stock is 1.10.

What is the 3Y average debt to equity ratio for Norfolk Southern Corporation (NSC)?

The 3Y average debt to equity ratio for NSC stock is 1.22.

What is the 5Y average debt to equity ratio for Norfolk Southern Corporation (NSC)?

The 5Y average debt to equity ratio for NSC stock is 1.17.

What is the 10Y average debt to equity ratio for Norfolk Southern Corporation (NSC)?

The 10Y average debt to equity ratio for NSC stock is 0.98.

What is the 15Y average debt to equity ratio for Norfolk Southern Corporation (NSC)?

The 15Y average debt to equity ratio for NSC stock is 0.92.

What is the 20Y average debt to equity ratio for Norfolk Southern Corporation (NSC)?

The 20Y average debt to equity ratio for NSC stock is 0.84.

DATE	DEBT TO EQUITY RATIO
2026-06-30	1.02
2026-03-31	1.08
2025-12-31	1.10
2025-09-30	1.13
2025-06-30	1.17
2025-03-31	1.19
2024-12-31	1.22
2024-09-30	1.25
2024-06-30	1.36
2024-03-31	1.40
2023-12-31	1.37
2023-09-30	1.31
2023-06-30	1.20
2023-03-31	1.18
2022-12-31	1.22
2022-09-30	1.16
2022-06-30	1.14
2022-03-31	1.10
2021-12-31	1.04
2021-09-30	1.00
2021-06-30	0.96
2021-03-31	0.86
2020-12-31	0.89
2020-09-30	0.85
2020-06-30	0.85
2020-03-31	0.82
2019-12-31	0.84
2019-09-30	0.78
2019-06-30	0.75
2019-03-31	0.74
2018-12-31	0.73
2018-09-30	0.72
2018-06-30	0.58
2018-03-31	0.63
2017-12-31	0.60
2017-09-30	0.78
2017-06-30	0.78
2017-03-31	0.81
2016-12-31	0.82
2016-09-30	0.82
2016-06-30	0.82
2016-03-31	0.78
2015-12-31	0.83
2015-09-30	0.78
2015-06-30	0.78
2015-03-31	0.73
2014-12-31	0.73
2014-09-30	0.72
2014-06-30	0.77
2014-03-31	0.80
2013-12-31	0.84
2013-09-30	0.87
2013-06-30	0.83
2013-03-31	0.84
2012-12-31	0.89
2012-09-30	0.87
2012-06-30	0.82
2012-03-31	0.82
2011-12-31	0.76
2011-09-30	0.67
2011-06-30	0.66
2011-03-31	0.62
2010-12-31	0.66
2010-09-30	0.64
2010-06-30	0.62
2010-03-31	0.67
2009-12-31	0.69
2009-09-30	0.70
2009-06-30	0.72
2009-03-31	0.71
2008-12-31	0.69
2008-09-30	0.64
2008-06-30	0.65
2008-03-31	0.67
2007-12-31	0.65
2007-09-30	0.62
2007-06-30	0.62
2007-03-31	0.68
2006-12-31	0.69
2006-09-30	0.69
2006-06-30	0.69
2006-03-31	0.71
2005-12-31	0.75
2005-09-30	0.78
2005-06-30	0.81
2005-03-31	0.93
2004-12-31	0.94
2004-09-30	0.98
2004-06-30	0.93
2004-03-31	0.97
2003-12-31	1.03
2003-09-30	1.04
2003-06-30	1.10
2003-03-31	1.12
2002-12-31	1.13
2002-09-30	1.15

DATE

DEBT TO EQUITY RATIO

2026-06-30

1.02

2026-03-31

1.08

2025-12-31

1.10

2025-09-30

1.13

2025-06-30

1.17

2025-03-31

1.19

2024-12-31

1.22

2024-09-30

1.25

2024-06-30

1.36

2024-03-31

1.40

2023-12-31

1.37

2023-09-30

1.31

2023-06-30

1.20

2023-03-31

1.18

2022-12-31

1.22

2022-09-30

1.16

2022-06-30

1.14

2022-03-31

1.10

2021-12-31

1.04

2021-09-30

1.00

2021-06-30

0.96

2021-03-31

0.86

2020-12-31

0.89

2020-09-30

0.85

2020-06-30

0.85

2020-03-31

0.82

2019-12-31

0.84

2019-09-30

0.78

2019-06-30

0.75

2019-03-31

0.74

2018-12-31

0.73

2018-09-30

0.72

2018-06-30

0.58

2018-03-31

0.63

2017-12-31

0.60

2017-09-30

0.78

2017-06-30

0.78

2017-03-31

0.81

2016-12-31

0.82

2016-09-30

0.82

2016-06-30

0.82

2016-03-31

0.78

2015-12-31

0.83

2015-09-30

0.78

2015-06-30

0.78

2015-03-31

0.73

2014-12-31

0.73

2014-09-30

0.72

2014-06-30

0.77

2014-03-31

0.80

2013-12-31

0.84

2013-09-30

0.87

2013-06-30

0.83

2013-03-31

0.84

2012-12-31

0.89

2012-09-30

0.87

2012-06-30

0.82

2012-03-31

0.82

2011-12-31

0.76

2011-09-30

0.67

2011-06-30

0.66

2011-03-31

0.62

2010-12-31

0.66

2010-09-30

0.64

2010-06-30

0.62

2010-03-31

0.67

2009-12-31

0.69

2009-09-30

0.70

2009-06-30

0.72

2009-03-31

0.71

2008-12-31

0.69

2008-09-30

0.64

2008-06-30

0.65

2008-03-31

0.67

2007-12-31

0.65

2007-09-30

0.62

2007-06-30

0.62

2007-03-31

0.68

2006-12-31

0.69

2006-09-30

0.69

2006-06-30

0.69

2006-03-31

0.71

2005-12-31

0.75

2005-09-30

0.78

2005-06-30

0.81

2005-03-31

0.93

2004-12-31

0.94

2004-09-30

0.98

2004-06-30

0.93

2004-03-31

0.97

2003-12-31

1.03

2003-09-30

1.04

2003-06-30

1.10

2003-03-31

1.12

2002-12-31

1.13

2002-09-30

1.15

Debt to Equity Ratio: 1.02

NSC Debt to Equity Ratio

NSC Average Debt to Equity Ratio Chart

NSC Current vs Average Debt to Equity Ratio Chart

NSC Debt to Equity Ratio Metrics

NSC Competitors' Debt to Equity Ratio

Financial Health

Debt to Equity Ratio Formula & Definition

Debt to Equity Ratio FAQ

NSC Debt to Equity Ratio History

Related Metrics