Also trades as: CNR.TO (TSX) · $vol 170M

$125.53

+2.25 (+1.83%)

Pre-Market: $126.24 (+0.71, +0.57%)

Weekly Expected Move ±2.8%

$116 $120 $123 $127 $130

NYSE · Industrials · Railroads · Tech Score Buy · Power 62 · $76.0B mcap · 603M float · 0.226% daily turnover · Short 45% of daily vol

Credit Risk of going bust: lower than 86% of companies Debt: 17.5% of company value Bonds: $153.2M held by 175 funds, 58 bp over Treasuries → details ▾

If the stock fell to about $1.35 (down 99%), Canadian National Railway Company would be worth roughly what it owes.
Total debt $16.11B against a stock market value of $75.96B.
Distance to default 11.79 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $8.11B (short-term plus half of long-term), stock volatility 22.0%; Altman Z'' 2.37. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

Income Trends

Revenue

$17.3B +1.4% ▲

5Y CAGR: +4.6%

Gross Profit

$7.8B +11.3% ▲

5Y CAGR: +6.1%

Operating Income

$6.6B +5.4% ▲

5Y CAGR: +6.6%

Net Income

$4.7B +6.0% ▲

5Y CAGR: +5.9%

EPS (Diluted)

$7.56 +7.8% ▲

5Y CAGR: +8.6%

EBITDA

$9.1B +5.5% ▲

5Y CAGR: +6.4%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$14.5B	$17.1B	$16.8B	$17.0B	$17.3B
YoY Growth	+4.8%	+18.2%	-1.6%	+1.3%	+1.4%
Cost of Revenue	$8.4B	$9.7B	$9.7B	$10.1B	$9.5B
Gross Profit	$6.1B	$7.4B	$7.2B	$7.0B	$7.8B
Gross Margin	41.9%	43.2%	42.5%	40.9%	44.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	-$407M	-$498M	-$479M	$0	$1.2B
Operating Expenses	$453M	$556M	$554M	$720M	$1.2B
Operating Income	$5.6B	$6.8B	$6.6B	$6.2B	$6.6B
Operating Margin	38.8%	40.0%	39.2%	36.6%	38.1%
Interest Expense	$610M	$548M	$722M	$891M	$912M
Income Before Tax	$6.3B	$6.8B	$6.5B	$5.9B	$6.3B
Tax Expense	$1.4B	$1.6B	$863M	$1.4B	$1.5B
Net Income	$4.9B	$5.1B	$5.6B	$4.4B	$4.7B
Net Margin	33.8%	29.9%	33.4%	26.1%	27.3%
EPS (Diluted)	$6.90	$7.44	$8.53	$7.01	$7.56
EBITDA	$8.6B	$9.0B	$9.0B	$8.6B	$9.1B
Shares Outstanding	710M	688M	659M	634M	624M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$4.1B	$4.4B	$4.4B	$4.3B	$4.2B	$4.5B	$4.4B	$4.8B
Cost of Revenue	$2.4B	$2.5B	$2.6B	$2.4B	$2.3B	$2.4B	$2.5B	$2.7B
Gross Profit	$1.7B	$1.8B	$1.8B	$1.8B	$1.9B	$2.1B	$1.9B	$2.1B
Gross Margin	40.4%	41.5%	40.4%	42.8%	44.9%	46.3%	42.8%	43.7%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	-$114M	$0	$0	$0	$264M	$334M	$327M	$297M
Operating Expenses	$147M	$181M	$167M	$189M	$264M	$334M	$327M	$297M
Operating Income	$1.5B	$1.6B	$1.6B	$1.6B	$1.6B	$1.7B	$1.6B	$1.8B
Operating Margin	36.9%	37.4%	36.6%	38.3%	38.5%	38.8%	35.4%	37.5%
Interest Expense	$230M	$231M	$233M	$219M	$163M	$234M	$235M	$241M
Income Before Tax	$1.4B	$1.5B	$1.5B	$1.6B	$1.5B	$1.7B	$1.5B	$1.7B
Tax Expense	$324M	$362M	$366M	$389M	$368M	$421M	$376M	$431M
Net Income	$1.1B	$1.1B	$1.2B	$1.2B	$1.1B	$1.2B	$1.1B	$1.2B
Net Margin	26.4%	26.3%	26.4%	27.4%	27.3%	28.0%	26.2%	26.3%
EPS (Diluted)	$1.72	$1.82	$1.85	$1.87	$1.83	$2.02	$1.88	$2.06
EBITDA	$2.1B	$2.2B	$2.3B	$2.3B	$2.1B	$2.4B	$2.2B	$2.3B
Shares Outstanding	630M	630M	628M	628M	622M	616M	612M	608M

CNI NYSE

Income Trends

Profit Margins

Year-over-Year Growth

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