CSX Corporation (CSX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CSX SEC filings page.
CSX Corporation (CSX) reported $14.5B in revenue over the twelve months to Jun 30, 2026, up 2.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
CSX remains cash-generative, but rising reinvestment and shrinking margins are converting a capital-intensive business into less free cash.
Operating cash flow slipped from$5.1B in FY2021 to$4.6B in FY2025, while capital expenditures climbed, indicating that reinvestment is absorbing more internally generated cash. Capital expenditures reached$2.9B in FY2025, leaving only$1.7B of free cash flow; the widening gap makes cash generation less flexible even while reported earnings remain positive.
Operating margin fell from
The current ratio declined from 1.7x in FY2021 to 0.8x in FY2025, making short-term obligations larger than current assets at the latest balance-sheet date—a tighter liquidity posture. Debt-to-equity eased to 1.4x in FY2025 from 1.5x in FY2023, so leverage did not worsen alongside the cash-flow squeeze.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of CSX Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
CSX Corporation has an operating margin of 32.1%, meaning the company retains $32 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is down from 36.1% the prior year.
CSX Corporation's revenue declined 3.1% year-over-year, from $14.5B to $14.1B. This contraction results in a growth score of 24/100.
CSX Corporation has elevated debt relative to equity (D/E of 1.38), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 23/100, reflecting increased financial risk.
CSX Corporation's current ratio of 0.81 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.
CSX Corporation converts 12.1% of revenue into free cash flow ($1.7B). This strong cash generation earns a score of 80/100.
CSX Corporation earns a strong 21.9% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 80/100. This is down from 27.7% the prior year.
CSX Corporation scores 2.68, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($86.2B) relative to total liabilities ($30.5B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
CSX Corporation passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, CSX Corporation generates $1.60 in operating cash flow ($4.6B OCF vs $2.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
CSX Corporation earns $5.36 in operating income for every $1 of interest expense ($4.5B vs $844.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
CSX Corporation generated $3.9B in revenue in Q2 2026. This represents an increase of 10.1% from the same quarter a year earlier. Against the prior quarter it is up 13.0%.
CSX Corporation's EBITDA was $1.9B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.1% from the same quarter a year earlier. Against the prior quarter it is up 14.9%.
CSX Corporation reported $1.0B in net income in Q2 2026. This represents an increase of 20.9% from the same quarter a year earlier. Against the prior quarter it is up 24.2%.
CSX Corporation earned $0.54 per diluted share (EPS) in Q2 2026. This represents an increase of 22.7% from the same quarter a year earlier. Against the prior quarter it is up 25.6%.
Cash & Balance Sheet
CSX Corporation generated $751.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 632.6% from the same quarter a year earlier. Against the prior quarter it is up 3.0%.
CSX Corporation held $1.0B in cash against $17.2B in long-term debt as of Q2 2026.
CSX Corporation paid $0.14 per share in dividends in Q2 2026. This represents an increase of 7.7% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
CSX Corporation's operating margin was 38.3% in Q2 2026, reflecting core business profitability. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.3 percentage points.
CSX Corporation's net profit margin was 25.5% in Q2 2026, showing the share of revenue converted to profit. This is up 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.3 percentage points.
CSX Corporation's ROE was 7.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
Not reported for Q2 2026.
Capital Allocation
CSX Corporation spent $296.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 29.7% from the same quarter a year earlier. Against the prior quarter it is up 33.3%.
CSX Corporation invested $576.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 25.8% from the same quarter a year earlier. Against the prior quarter it is up 6.1%.
Not reported for Q2 2026.
CSX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B+10.1% | $3.5B+1.7% | $3.5B-0.9% | $3.6B-0.9% | $3.6B-3.4% | $3.4B-7.0% | $3.5B-3.8% | $3.6B+1.3% |
| SG&A Expenses | $831.0M+5.1% | $812.0M-1.1% | $835.0M+6.0% | $815.0M+1.1% | $791.0M+3.3% | $821.0M+2.0% | $788.0M-3.2% | $806.0M+5.9% |
| Operating Income | $1.5B+17.4% | $1.3B+20.4% | $1.1B+0.4% | $1.1B-19.7% | $1.3B-11.4% | $1.0B-22.1% | $1.1B-15.9% | $1.4B+6.5% |
| EBITDA | $1.9B+12.1% | $1.7B+13.8% | $1.5B-0.9% | $1.5B-14.6% | $1.7B-8.0% | $1.5B-16.1% | $1.5B-11.2% | $1.8B+5.7% |
| Interest Expense | $211.0M-0.5% | $213.0M+1.9% | $213.0M+2.9% | $210.0M+1.9% | $212.0M+1.4% | $209.0M-0.5% | $207.0M-65.8% | $206.0M+1.5% |
| Income Tax | $318.0M+20.5% | $256.0M+20.8% | $200.0M-1.5% | $204.0M-29.7% | $264.0M-13.2% | $212.0M-26.4% | $203.0M-22.5% | $290.0M+5.8% |
| Net Income | $1.0B+20.9% | $807.0M+24.9% | $720.0M-1.8% | $694.0M-22.4% | $829.0M-13.9% | $646.0M-26.6% | $733.0M-16.9% | $894.0M+8.0% |
| EPS (Basic) | $0.54+22.7% | $0.43+26.5% | $0.380.0% | $0.37-19.6% | $0.44-12.0% | $0.34-24.4% | $0.38-15.6% | $0.46+9.5% |
| EPS (Diluted) | $0.54+22.7% | $0.43+26.5% | $0.38-2.6% | $0.37-19.6% | $0.44-10.2% | $0.34-24.4% | $0.39-13.3% | $0.46+12.2% |
| Diluted Shares (Avg) | 1.86B-0.5% | 1.86B-1.6% | N/A | 1.87B-3.8% | 1.87B-4.1% | 1.89B-3.6% | N/A | 1.94B-3.0% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
CSX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $44.7B+4.2% | $44.2B+2.4% | $43.7B+2.1% | $43.3B+0.5% | $42.9B+1.3% | $43.2B+1.7% | $42.8B+1.3% | $43.1B+3.6% |
| Current Assets | $3.4B+47.9% | $3.1B+3.0% | $2.5B-9.6% | $2.5B-29.8% | $2.3B-27.5% | $3.0B-12.4% | $2.8B-16.0% | $3.6B+7.1% |
| Cash & Equivalents | $1.0B+160.2% | $964.0M-15.4% | $670.0M-28.2% | $612.0M-62.8% | $387.0M-68.7% | $1.1B-23.2% | $933.0M-31.0% | $1.6B+20.9% |
| Short-Term Investments | $383.0M+6283.3% | $145.0M+1712.5% | $5.0M-93.1% | $6.0M-50.0% | $6.0M+50.0% | $8.0M+300.0% | $72.0M-13.3% | $12.0M-84.8% |
| Accounts Receivable | $1.5B+3.3% | $1.4B+2.9% | $1.3B-2.1% | $1.4B-3.0% | $1.4B-1.5% | $1.3B-3.7% | $1.3B-4.8% | $1.4B+1.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | $80.0M-66.5% | $80.0M | N/A | N/A | $239.0M-26.5% | N/A |
| Total Liabilities | $30.6B+0.3% | $30.7B-1.2% | $30.5B+0.9% | $30.5B+1.3% | $30.6B+2.7% | $31.0B+3.3% | $30.3B+0.1% | $30.1B+1.0% |
| Current Liabilities | $4.2B+39.3% | $3.2B-5.8% | $3.1B-4.4% | $3.0B+15.5% | $3.0B+8.9% | $3.4B+13.2% | $3.3B+1.6% | $2.6B-12.4% |
| Non-Current Liabilities | $26.5B-3.9% | $27.4B-0.6% | $27.4B+1.5% | $27.6B0.0% | $27.6B+2.1% | $27.6B+2.2% | $27.0B-0.1% | $27.6B+2.5% |
| Long-Term Debt | $17.2B-7.5% | $18.2B-2.0% | $18.2B+1.5% | $18.6B+0.1% | $18.6B+3.3% | $18.5B+3.2% | $17.9B-0.4% | $18.5B+3.5% |
| Total Equity | $14.1B+13.8% | $13.6B+11.5% | $13.2B+5.2% | $12.8B-1.4% | $12.4B-1.9% | $12.2B-2.1% | $12.5B+4.4% | $12.9B+10.0% |
| Retained Earnings | $11.4B+15.2% | $10.9B+12.8% | $10.6B+5.7% | $10.2B-2.5% | $9.8B-3.3% | $9.7B-3.6% | $10.0B+3.9% | $10.5B+9.9% |
Not reported in any period shown, so not listed: Inventory.
CSX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.3B+109.0% | $1.3B+1.4% | $1.4B-0.1% | $1.3B-20.7% | $635.0M-42.6% | $1.3B+17.7% | $1.4B-6.8% | $1.7B+8.6% |
| Depreciation & Amortization | $411.0M-3.7% | $415.0M-2.4% | $404.0M-4.3% | $424.0M+1.9% | $427.0M+4.1% | $425.0M+3.7% | $422.0M+4.2% | $416.0M+3.2% |
| Stock-Based Compensation | $27.0M+80.0% | $13.0M-7.1% | N/A | $14.0M-12.5% | $15.0M+15.4% | $14.0M-12.5% | N/A | $16.0M+6.7% |
| Capital Expenditures | $576.0M-25.8% | $543.0M-24.5% | $677.0M-19.2% | $730.0M+16.8% | $776.0M+41.3% | $719.0M+39.1% | $838.0M+22.2% | $625.0M+8.9% |
| Free Cash Flow | $751.0M+632.6% | $729.0M+36.0% | $709.0M+28.9% | $607.0M-42.8% | -$141.0M-125.3% | $536.0M-2.4% | $550.0M-31.5% | $1.1B+8.5% |
| Investing Cash Flow | -$754.0M+6.6% | -$567.0M+12.4% | -$706.0M+20.0% | -$691.0M-2.5% | -$807.0M-43.6% | -$647.0M-33.1% | -$883.0M-22.5% | -$674.0M-20.1% |
| Financing Cash Flow | -$530.0M+8.6% | -$411.0M-2.2% | -$622.0M+48.8% | -$421.0M+30.5% | -$580.0M+26.6% | -$402.0M+10.7% | -$1.2B-56.9% | -$606.0M-3.2% |
| Dividends Paid | $260.0M+7.0% | $260.0M+6.1% | $242.0M+5.2% | $242.0M+4.3% | $243.0M+4.3% | $245.0M+4.3% | $230.0M+6.5% | $232.0M+6.4% |
| Share Buybacks | $296.0M-29.7% | $222.0M-70.4% | $112.0M-89.1% | $112.0M-72.1% | $421.0M-25.2% | $751.0M+204.0% | $1.0B+76.4% | $402.0M-58.6% |
CSX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 38.3%+2.4pp | 36.0%+5.6pp | 31.6%+0.4pp | 30.3%-7.1pp | 35.9%-3.2pp | 30.4%-5.9pp | 31.3%-4.5pp | 37.4%+1.8pp |
| Net Margin | 25.5%+2.3pp | 23.2%+4.3pp | 20.5%-0.2pp | 19.4%-5.3pp | 23.2%-2.8pp | 18.9%-5.0pp | 20.7%-3.3pp | 24.7%+1.5pp |
| Return on Equity | 7.1%+0.4pp | 5.9%+0.6pp | 5.5%-0.4pp | 5.4%-1.5pp | 6.7%-0.9pp | 5.3%-1.8pp | 5.9%-1.5pp | 6.9%-0.1pp |
| Return on Assets | 2.2%+0.3pp | 1.8%+0.3pp | 1.7%-0.1pp | 1.6%-0.5pp | 1.9%-0.3pp | 1.5%-0.6pp | 1.7%-0.4pp | 2.1%+0.1pp |
| Current Ratio | 0.820.0x | 0.97+0.1x | 0.810.0x | 0.85-0.5x | 0.77-0.4x | 0.88-0.3x | 0.86-0.2x | 1.39+0.3x |
| Debt-to-Equity | 1.22-0.3x | 1.34-0.2x | 1.38-0.1x | 1.450.0x | 1.50+0.1x | 1.52+0.1x | 1.43-0.1x | 1.43-0.1x |
| Asset Turnover | 0.090.0x | 0.080.0x | 0.080.0x | 0.080.0x | 0.080.0x | 0.080.0x | 0.080.0x | 0.080.0x |
| FCF Margin | 19.1%+23.0pp | 20.9%+5.3pp | 20.2%+4.7pp | 16.9%-12.4pp | -4.0%-19.0pp | 15.7%+0.7pp | 15.5%-6.3pp | 29.3%+1.9pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| CSX Corporation CSX | FY2025 | $14.1B | $2.9B | 20.5% | $86.2B | 52/100 |
| Norfolk Southern Corp. NSC | FY2025 | $12.2B | $2.9B | 23.6% | $69.7B | 51/100 |
| Union Pacific Corp. UNP | FY2025 | $24.5B | $7.1B | 29.1% | $161.8B | 58/100 |
| Wabtec Inc. WAB | FY2025 | $11.2B | $1.2B | 10.5% | $48.6B | 57/100 |
Where CSX Corporation Ranks
Frequently Asked Questions
What is CSX Corporation's annual revenue?
CSX Corporation (CSX) reported $14.1B in total revenue for fiscal year 2025. This represents a -3.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is CSX Corporation's revenue growing?
CSX Corporation (CSX) revenue declined by 3.1% year-over-year, from $14.5B to $14.1B in fiscal year 2025.
Is CSX Corporation profitable?
Yes, CSX Corporation (CSX) reported a net income of $2.9B in fiscal year 2025, with a net profit margin of 20.5%.
What is CSX Corporation's EBITDA?
CSX Corporation (CSX) had EBITDA of $6.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does CSX Corporation have?
As of fiscal year 2025, CSX Corporation (CSX) had $670.0M in cash and equivalents against $18.2B in long-term debt.
What is CSX Corporation's operating margin?
CSX Corporation (CSX) had an operating margin of 32.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CSX Corporation's net profit margin?
CSX Corporation (CSX) had a net profit margin of 20.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does CSX Corporation pay dividends?
Yes, CSX Corporation (CSX) paid $0.52 per share in dividends during fiscal year 2025.
What is CSX Corporation's return on equity (ROE)?
CSX Corporation (CSX) has a return on equity of 21.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CSX Corporation's free cash flow?
CSX Corporation (CSX) generated $1.7B in free cash flow during fiscal year 2025. This represents a -37.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is CSX Corporation's operating cash flow?
CSX Corporation (CSX) generated $4.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are CSX Corporation's total assets?
CSX Corporation (CSX) had $43.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are CSX Corporation's capital expenditures?
CSX Corporation (CSX) invested $2.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is CSX Corporation's current ratio?
CSX Corporation (CSX) had a current ratio of 0.81 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is CSX Corporation's debt-to-equity ratio?
CSX Corporation (CSX) had a debt-to-equity ratio of 1.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CSX Corporation's return on assets (ROA)?
CSX Corporation (CSX) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CSX Corporation's P/E ratio?
CSX Corporation (CSX) trades at 26.7x earnings, its market capitalization divided by net income of $3.2B net income, trailing 12 months to June 30, 2026. The market capitalization is $86.2B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CSX Corporation's price-to-sales ratio?
CSX Corporation (CSX) trades at 5.9x sales, its market capitalization divided by revenue of $14.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $86.2B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is CSX Corporation's Altman Z-Score?
CSX Corporation (CSX) has an Altman Z-Score of 2.68, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CSX Corporation's Piotroski F-Score?
CSX Corporation (CSX) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CSX Corporation's earnings high quality?
CSX Corporation (CSX) has an earnings quality ratio of 1.60x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can CSX Corporation cover its interest payments?
CSX Corporation (CSX) has an interest coverage ratio of 5.36x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is CSX Corporation?
CSX Corporation (CSX) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.