CSX CorporationCSX
NasdaqGS•Industrials•Railroads
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services in the United States and Canada. It operates through two segments: rail and trucking. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities. In addition, the company provides intermodal services through a network of approximately 30 terminals transporting manufactured consumer goods in containers; and drayage services, including the pickup and delivery of intermodal shipments. It serves the automotive industry with distribution centers and storage locations, as well as connects non-rail served customers through transferring products, such as plastics and ethanol from rail to trucks. The company operates approximately 20,000 route mile rail network, which serves various population centers in 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec, as well as owns 3400 locomotives. It serves production and distribution facilities through track connections. CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida.
CSX Corporation (CSX) reported trailing twelve months revenue of $14.15B as of March 2026, a 0.9% decline year-over-year. Quarterly revenue reached $3.48B, reflecting a contraction in sales.
CSX Corporation generated $3.05B in TTM net income, with quarterly EBITDA of $1.67B. The operating margin expanded from 30.4% to 36.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (36.0%) and net margin (23.2%) indicates moderate non-operating costs. Net margin has improved from 18.9% a year ago, signaling stronger bottom-line efficiency.
CSX trades at a P/E of 24.3x (in line with broad market averages) and a P/S of 5.2x. The price-to-book ratio of 5.4x indicates a significant premium over book value.
The company generated $729.00M in free cash flow over the trailing twelve months, a 36.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $44.23B in total assets with $18.16B in long-term debt against $13.58B in stockholders equity for a debt-to-equity ratio of 1.3. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~33.9% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 25.3% suggests a durable competitive advantage and efficient capital allocation.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~33.5% — no sign of cost or pricing stress.
FCF covers net income by 0.7x on average — earnings are well-supported by cash generation.
D/E ratio is 1.3 — conservative capital structure with low financial risk.
Revenue has softened, declining in 5 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 4.3% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation