NSC Pre-Tax Margin | NORFOLK SOUTHERN CORP

NORFOLK SOUTHERN CORP Pre-Tax Margin

Pre-tax margin is the percentage of revenue left as profit after every expense except income tax. It is income before income tax divided by revenue, and the table shows both amounts beside the percentage. It sits between operating margin and net margin: it includes interest and other non-operating items but not the tax charge, so the gap down to net margin is the tax burden. Quarterly and annual points each use the amounts filed for that same period, so a single quarter can swing with the seasons.

NORFOLK SOUTHERN CORP pre-tax margin for the quarter ending 2026-06-30 was 27.68%, a 13.75% decline year-over-year.
NORFOLK SOUTHERN CORP pre-tax margin for the quarter ending 2026-03-31 was 23.85%, a 27.01% decline year-over-year.
NORFOLK SOUTHERN CORP pre-tax margin for the quarter ending 2025-12-31 was 25.72%, a 16.18% decline year-over-year.
NORFOLK SOUTHERN CORP pre-tax margin for the quarter ending 2025-09-30 was 29.78%, a 36.33% decline year-over-year.
NORFOLK SOUTHERN CORP pre-tax margin for fiscal 2025 was 30.09%, a 9.58% increase from fiscal 2024.
NORFOLK SOUTHERN CORP pre-tax margin for fiscal 2024 was 27.46%, a 43.88% increase from fiscal 2023.
NORFOLK SOUTHERN CORP pre-tax margin for fiscal 2023 was 19.09%, a 41.10% decline from fiscal 2022.
NORFOLK SOUTHERN CORP pre-tax margin for fiscal 2022 was 32.40%, a 6.90% decline from fiscal 2021.

Available history: 2011-12-31 to 2026-06-30
Data captured: 2026-06-30

Historical Pre-Tax Margin

Date	Pre-Tax Margin	Pre-tax income	Revenue
2026-06-30	27.68%	$959M	$3.47B
2026-03-31	23.85%	$715M	$3B
2025-12-31	25.72%	$765M	$2.97B
2025-09-30	29.78%	$924M	$3.1B
2025-06-30	32.09%	$998M	$3.11B
2025-03-31	32.68%	$978M	$2.99B
2024-12-31	30.69%	$928M	$3.02B
2024-09-30	46.77%	$1.43B	$3.05B
2024-06-30	31.01%	$944M	$3.04B
2024-03-31	1.00%	$30M	$3B
2023-12-31	21.18%	$651M	$3.07B
2023-09-30	20.67%	$614M	$2.97B
2023-06-30	15.54%	$463M	$2.98B
2023-03-31	18.90%	$592M	$3.13B
2022-12-31	32.07%	$1.04B	$3.24B
2022-09-30	32.70%	$1.09B	$3.34B
2022-06-30	33.45%	$1.09B	$3.25B
2022-03-31	31.29%	$912M	$2.92B
2021-12-31	34.54%	$985M	$2.85B
2021-09-30	34.57%	$986M	$2.85B
2021-06-30	37.19%	$1.04B	$2.8B
2021-03-31	32.82%	$866M	$2.64B
2020-12-31	33.70%	$867M	$2.57B
2020-09-30	28.89%	$724M	$2.51B
2020-06-30	24.12%	$503M	$2.09B
2020-03-31	16.61%	$436M	$2.63B
2019-12-31	30.78%	$828M	$2.69B
2019-09-30	30.55%	$868M	$2.84B
2019-06-30	31.93%	$934M	$2.93B
2019-03-31	30.32%	$861M	$2.84B
2018-12-31	32.11%	$930M	$2.9B
2018-09-30	30.81%	$908M	$2.95B
2018-06-30	31.88%	$924M	$2.9B
2018-03-31	26.02%	$707M	$2.72B
2017-12-31	33.46%	$893M	$2.67B
2017-09-30	29.96%	$800M	$2.67B
2017-06-30	29.58%	$780M	$2.64B
2017-03-31	25.44%	$655M	$2.58B
2016-12-31	25.74%	$641M	$2.49B
2016-09-30	27.93%	$705M	$2.52B
2016-06-30	25.92%	$636M	$2.45B
2016-03-31	24.79%	$600M	$2.42B
2015-12-31	20.81%	$524M	$2.52B
2015-09-30	26.69%	$724M	$2.71B
2015-06-30	25.76%	$699M	$2.71B
2015-03-31	19.28%	$495M	$2.57B
2014-12-31	27.53%	$790M	$2.87B
2014-09-30	29.51%	$892M	$3.02B
2014-06-30	29.52%	$898M	$3.04B
2014-03-31	20.60%	$554M	$2.69B
2013-12-31	27.18%	$783M	$2.88B
2013-09-30	26.49%	$748M	$2.82B
2013-06-30	26.30%	$737M	$2.8B
2013-03-31	25.46%	$697M	$2.74B

Annual Pre-Tax Margin

Date	Pre-Tax Margin	Pre-tax income	Revenue
2025-12-31	30.09%	$3.67B	$12.18B
2024-12-31	27.46%	$3.33B	$12.12B
2023-12-31	19.09%	$2.32B	$12.16B
2022-12-31	32.40%	$4.13B	$12.75B
2021-12-31	34.81%	$3.88B	$11.14B
2020-12-31	25.85%	$2.53B	$9.79B
2019-12-31	30.90%	$3.49B	$11.3B
2018-12-31	30.28%	$3.47B	$11.46B
2017-12-31	29.65%	$3.13B	$10.55B
2016-12-31	26.11%	$2.58B	$9.89B
2015-12-31	23.23%	$2.44B	$10.51B
2014-12-31	26.96%	$3.13B	$11.62B
2013-12-31	26.37%	$2.97B	$11.25B
2012-12-31	24.98%	$2.76B	$11.04B
2011-12-31	26.12%	$2.92B	$11.17B

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