Norfolk Southern price to free cash flow NSC

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026: 45.4×
10-year median: 28.8×
Against its 10-year history: 88th; percentile: 0 is its lowest day, 100 its highest
10-year range: 17.0× to 148×
Peer median: 30.2×

Norfolk Southern's price to free cash flow is 45.4× as of Oct 23, 2026.

That is above its ten-year median of 28.8×, higher than on 88% of days in the last ten years.

Over that time it ranged from 17.0× in Mar 2020 to 148× in Apr 2024.

The median for 3 railroad stocks of a similar size is 30.2×.

Price to free cash flow over time

median 28.8×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	45.4×	29.3×	48.3×
2025	31.1×	26.4×	47.5×
2024	43.8×	43.6×	148×
2023	46.8×	19.1×	46.8×
2022	21.6×	19.6×	26.6×
2021	26.7×	23.2×	33.1×
2020	29.0×	17.0×	31.7×
2019	29.6×	21.2×	31.2×
2018	20.8×	20.3×	34.3×
2017	32.2×	24.6×	33.5×
2016	28.7×	24.4×	137×
2015	149×	27.7×	172×
2014	30.3×	25.3×	36.4×
2013	35.5×	27.3×	42.6×
2012	28.0×	14.8×	28.8×
2011	18.1×	16.5×	28.0×
2010	17.2×	16.7×	139×

Against its peers

Companies in Railroads nearest Norfolk Southern's size, closest first, today.

Company	Price to free cash flow
NSCNorfolk Southern	45.4×
CSXCSX	33.7×
WABWestinghouse Air Brake Technologies	26.8×
UNPUnion Pacific	n/m
Peer median	30.2×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Norfolk Southern

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.