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CSX

CSX Corporation

CSX

CSX Corporation • NASDAQ
$35.36 ▲ 0.54% (+0.19)
Market Cap $65.85 B
52w High $37.25
52w Low $26.22
Dividend Yield 0.52%
P/E 22.96
Volume 4.95M
Outstanding Shares 1.86B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.46B ▲ $894M ▲ $673M ▼ 15.09% ▼ $0.37 ▼ $1.511B ▼
Q2-2025 $3.574B ▲ $0 $829M ▲ 23.195% ▲ $0.44 ▲ $1.732B ▲
Q1-2025 $3.423B ▼ $0 $646M ▼ 18.872% ▼ $0.34 ▼ $1.492B ▼
Q4-2024 $3.539B ▼ $0 $733M ▼ 20.712% ▼ $0.38 ▼ $1.565B ▼
Q3-2024 $3.619B $0 $894M 24.703% $0.46 $1.806B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $618M ▲ $43.279B ▲ $30.521B ▼ $12.758B ▲
Q2-2025 $393M ▼ $42.929B ▼ $30.552B ▼ $12.377B ▲
Q1-2025 $1.147B ▲ $43.199B ▲ $31.024B ▲ $12.17B ▼
Q4-2024 $1.005B ▼ $42.764B ▼ $30.257B ▲ $12.502B ▼
Q3-2024 $1.656B $43.069B $30.133B $12.931B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $694M ▼ $1.337B ▲ $-691M ▲ $-421M ▲ $225M ▲ $2.832B ▲
Q2-2025 $829M ▲ $635M ▼ $-807M ▼ $-580M ▼ $-752M ▼ $-141M ▼
Q1-2025 $646M ▼ $1.255B ▼ $-647M ▲ $-402M ▲ $206M ▲ $536M ▼
Q4-2024 $733M ▼ $1.388B ▼ $-883M ▼ $-1.216B ▼ $-711M ▼ $550M ▼
Q3-2024 $894M $1.686B $-674M $-606M $406M $1.061B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Coal Services
Coal Services
 $450.00M ▲$460.00M ▲$480.00M ▲$490.00M ▲
Intermodal
Intermodal
 $480.00M ▲$490.00M ▲$490.00M ▲$530.00M ▲
Total Merchandise
Total Merchandise
 $2.19Bn ▲$2.15Bn ▼$2.26Bn ▲$2.21Bn ▼
Trucking
Trucking
 $190.00M ▲$200.00M ▲$210.00M ▲$210.00M ▲

Five-Year Company Overview

Income Statement

Income Statement CSX’s revenue has grown solidly from the pandemic years and then flattened out, suggesting a business that is stable but not currently in a strong growth phase. Profitability remains robust, with healthy margins, but earnings have eased back from their recent peak, hinting at some pressure from softer volumes, pricing, or higher costs. Overall, the income statement shows a mature, efficiently run railroad that generates strong profits, but with more muted recent momentum than in the immediate rebound years after 2020.

Balance Sheet

Balance Sheet The balance sheet shows a large, asset-heavy railroad with slowly rising total assets, which is typical for this industry. Cash levels have trended down over the past few years, while debt has edged higher and equity has slipped a bit, meaning leverage has crept up. This picture fits a capital‑intensive company that is comfortable using debt and returning capital, but it does leave somewhat less balance‑sheet flexibility than earlier in the period.

Cash Flow

Cash Flow CSX consistently produces strong cash flow from its operations, more than enough to fund a sizable investment program in its rail network and equipment. Free cash flow remains healthy, but it has come down from earlier highs as capital spending has increased and operating cash flow has flattened slightly. This suggests a deliberate choice to reinvest more heavily in the business today, which supports future capacity and efficiency but leaves a bit less excess cash in the near term.

Competitive Edge

Competitive Edge CSX benefits from a powerful competitive moat built on an extensive rail network in the Eastern United States that would be extremely difficult and costly for any new entrant to replicate. Rail is structurally cheaper and more fuel‑efficient than trucking over long distances, giving CSX a lasting cost advantage. Within this already concentrated industry, CSX stands out for strong intermodal service, high customer satisfaction scores, and solid profitability compared with key rivals, although its volumes still depend heavily on overall economic activity and shifts in freight mix, such as coal demand.

Innovation and R&D

Innovation and R&D CSX is actively modernizing its railroad through technology rather than traditional lab-style R&D. It is using cloud computing and advanced analytics to make real-time decisions, deploying AI and sensors for predictive maintenance, automated inspections, and fuel optimization, and expanding the use of drones and specialized inspection vehicles to improve safety and uptime. On the sustainability front, CSX is experimenting with hydrogen and battery‑electric locomotives and has secured public funding for some of these projects, while simultaneously investing in major infrastructure upgrades and new intermodal and cross‑border services that can support future growth.

Summary

Overall, CSX looks like a mature, high‑quality railroad with strong profitability, dependable cash generation, and a deep competitive moat built on an irreplaceable network. The company is leaning into technology and sustainability to squeeze more efficiency and reliability from its assets, while also investing heavily in infrastructure and intermodal growth. Key strengths include cost advantages over trucking, high barriers to entry, and operational know‑how; key risks include economic cyclicality, rising leverage, heavy ongoing capital needs, regulatory and labor exposure, and uncertainty around long‑term demand for certain commodities like coal. The financial profile suggests a solid, cash‑rich business that is currently in a reinvestment phase rather than a rapid growth or turnaround story.

NEWS

November 25, 2025 · 9:00 AM UTC

CSX Chief Financial Officer and Chief Operating Officer to Address UBS Global Industrials and Transportation Conference

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November 24, 2025 · 4:01 PM UTC

FIRST RESPONDERS CHILDREN'S FOUNDATION AND CSX BRING TOY EXPRESS TO 70 COMMUNITIES IN 12 STATES THIS HOLIDAY

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November 12, 2025 · 10:30 AM UTC

Westgate Super Site Receives CSX Select Site Platinum Designation

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October 16, 2025 · 4:01 PM UTC

CSX Corp. Announces Third Quarter 2025 Results

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October 8, 2025 · 4:01 PM UTC

CSX Corporation Declares Quarterly Dividend

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