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Csx Corp Financials

CSX
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Csx Corp (CSX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 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).

Rhea AI CSX FY2025

Rising reinvestment needs are absorbing a larger share of cash as profitability softens and the balance sheet stays levered.

Between FY2023 and FY2025, free cash flow fell from $3.26B to $1.71B even though revenue changed far less over the same span. With operating margin sliding to 32.1% while capital spending climbed to $2.90B, the squeeze is coming from both weaker profit per revenue dollar and more cash required to maintain the asset base than the income statement alone implies.

The company still shows solid cash conversion before reinvestment: FY2025 operating cash flow was $4.61B against net income of $2.89B. That means reported profit is still turning into cash, and the bigger constraint is capital intensity rather than a disconnect between earnings and cash generation.

The liquidity cushion has tightened as cash fell to $670M and the current ratio slipped to 0.8x. Long-term debt stayed near $18.2B, so buybacks dropping to $1.40B suggests cash is being conserved rather than balance-sheet leverage being materially reduced.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 58 / 100
Financial Profile 58/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Csx Corp'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.

Profitability
99

Csx Corp 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 99/100, reflecting efficient cost management and pricing power. This is down from 36.1% the prior year.

Growth
30

Csx Corp's revenue declined 3.1% year-over-year, from $14.5B to $14.1B. This contraction results in a growth score of 30/100.

Leverage
74

Csx Corp carries a low D/E ratio of 1.38, meaning only $1.38 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
11

Csx Corp's current ratio of 0.81 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
65

Csx Corp converts 12.1% of revenue into free cash flow ($1.7B). This strong cash generation earns a score of 65/100.

Returns
68

Csx Corp 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 68/100. This is down from 27.7% the prior year.

Altman Z-Score Grey Zone
2.63

Csx Corp scores 2.63, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($83.8B) relative to total liabilities ($30.5B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
5/9

Csx Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.60x

For every $1 of reported earnings, Csx Corp 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.

Interest Coverage Safe
5.4x

Csx Corp earns $5.4 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

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Earnings & Revenue

Revenue
$14.1B
YoY-3.1%
5Y CAGR+5.9%
10Y CAGR+1.8%

Csx Corp generated $14.1B in revenue in fiscal year 2025. This represents a decrease of 3.1% from the prior year.

EBITDA
$6.2B
YoY-10.2%
5Y CAGR+1.5%
10Y CAGR+2.6%

Csx Corp's EBITDA was $6.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.2% from the prior year.

Net Income
$2.9B
YoY-16.7%
5Y CAGR+0.9%
10Y CAGR+3.9%

Csx Corp reported $2.9B in net income in fiscal year 2025. This represents a decrease of 16.7% from the prior year.

EPS (Diluted)
$1.54
YoY-14.0%
5Y CAGR+5.1%
10Y CAGR-2.6%

Csx Corp earned $1.54 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 14.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$1.7B
YoY-37.0%
5Y CAGR-8.3%
10Y CAGR+7.8%

Csx Corp generated $1.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 37.0% from the prior year.

Cash & Debt
$670.0M
YoY-28.2%
5Y CAGR-26.5%
10Y CAGR+0.6%

Csx Corp held $670.0M in cash against $18.2B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.52
YoY+8.3%
5Y CAGR+8.2%
10Y CAGR-2.9%

Csx Corp paid $0.52 per share in dividends in fiscal year 2025. This represents an increase of 8.3% from the prior year.

Shares Outstanding
1.86B
YoY-1.9%
5Y CAGR+19.5%
10Y CAGR+6.8%

Csx Corp had 1.86B shares outstanding in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
32.1%
YoY-4.0pp
5Y CAGR-9.1pp
10Y CAGR+1.7pp

Csx Corp's operating margin was 32.1% in fiscal year 2025, reflecting core business profitability. This is down 4.0 percentage points from the prior year.

Net Margin
20.5%
YoY-3.4pp
5Y CAGR-5.6pp
10Y CAGR+3.8pp

Csx Corp's net profit margin was 20.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.4 percentage points from the prior year.

Return on Equity
21.9%
YoY-5.8pp
5Y CAGR+0.9pp
10Y CAGR+5.1pp

Csx Corp's ROE was 21.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.8 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$1.4B
YoY-37.6%
5Y CAGR+10.0%
10Y CAGR+5.7%

Csx Corp spent $1.4B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 37.6% from the prior year.

Capital Expenditures
$2.9B
YoY+14.7%
5Y CAGR+12.3%
10Y CAGR+1.3%

Csx Corp invested $2.9B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.7% from the prior year.

CSX Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $3.5B-0.7% $3.5B-2.2% $3.6B+0.4% $3.6B+4.4% $3.4B-3.3% $3.5B-2.2% $3.6B-2.2% $3.7B
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $812.0M-2.8% $835.0M+2.5% $815.0M+3.0% $791.0M-3.7% $821.0M+4.2% $788.0M-2.2% $806.0M+5.2% $766.0M
Operating Income $1.3B+12.9% $1.1B+2.1% $1.1B-15.3% $1.3B+23.2% $1.0B-5.9% $1.1B-18.3% $1.4B-6.5% $1.4B
Interest Expense $213.0M0.0% $213.0M+1.4% $210.0M-0.9% $212.0M+1.4% $209.0M+1.0% $207.0M+0.5% $206.0M-1.4% $209.0M
Income Tax $256.0M+28.0% $200.0M-2.0% $204.0M-22.7% $264.0M+24.5% $212.0M+4.4% $203.0M-30.0% $290.0M-4.6% $304.0M
Net Income $807.0M+12.1% $720.0M+3.7% $694.0M-16.3% $829.0M+28.3% $646.0M-11.9% $733.0M-18.0% $894.0M-7.2% $963.0M
EPS (Diluted) $0.43 N/A $0.37-15.9% $0.44+29.4% $0.34 N/A $0.46-6.1% $0.49

CSX Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $44.2B+1.3% $43.7B+0.9% $43.3B+0.8% $42.9B-0.6% $43.2B+1.0% $42.8B-0.7% $43.1B+1.7% $42.4B
Current Assets $3.1B+22.0% $2.5B+1.6% $2.5B+8.9% $2.3B-23.7% $3.0B+7.1% $2.8B-21.2% $3.6B+12.5% $3.2B
Cash & Equivalents $964.0M+43.9% $670.0M+9.5% $612.0M+58.1% $387.0M-66.0% $1.1B+22.1% $933.0M-43.2% $1.6B+32.8% $1.2B
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $1.4B+6.9% $1.3B-5.3% $1.4B-2.8% $1.4B+4.5% $1.3B+1.7% $1.3B-6.2% $1.4B-1.2% $1.4B
Goodwill N/A $80.0M0.0% $80.0M N/A N/A $239.0M N/A N/A
Total Liabilities $30.7B+0.4% $30.5B0.0% $30.5B-0.1% $30.6B-1.5% $31.0B+2.5% $30.3B+0.4% $30.1B+1.3% $29.7B
Current Liabilities $3.2B+2.8% $3.1B+5.6% $3.0B-0.6% $3.0B-12.8% $3.4B+4.4% $3.3B+27.5% $2.6B-6.2% $2.7B
Long-Term Debt $18.2B0.0% $18.2B-2.1% $18.6B0.0% $18.6B+0.2% $18.5B+3.5% $17.9B-3.4% $18.5B+3.3% $18.0B
Total Equity $13.6B+3.2% $13.2B+3.2% $12.8B+3.1% $12.4B+1.7% $12.2B-2.7% $12.5B-3.3% $12.9B+2.5% $12.6B
Retained Earnings $10.9B+3.1% $10.6B+3.6% $10.2B+3.5% $9.8B+2.0% $9.7B-3.3% $10.0B-4.5% $10.5B+2.6% $10.2B

CSX Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $1.3B-8.2% $1.4B+3.7% $1.3B+110.6% $635.0M-49.4% $1.3B-9.6% $1.4B-17.7% $1.7B+52.3% $1.1B
Capital Expenditures $543.0M-19.8% $677.0M-7.3% $730.0M-5.9% $776.0M+7.9% $719.0M-14.2% $838.0M+34.1% $625.0M+13.8% $549.0M
Free Cash Flow $729.0M+2.8% $709.0M+16.8% $607.0M+530.5% -$141.0M-126.3% $536.0M-2.5% $550.0M-48.2% $1.1B+90.1% $558.0M
Investing Cash Flow -$567.0M+19.7% -$706.0M-2.2% -$691.0M+14.4% -$807.0M-24.7% -$647.0M+26.7% -$883.0M-31.0% -$674.0M-19.9% -$562.0M
Financing Cash Flow -$411.0M+33.9% -$622.0M-47.7% -$421.0M+27.4% -$580.0M-44.3% -$402.0M+66.9% -$1.2B-100.7% -$606.0M+23.3% -$790.0M
Dividends Paid $260.0M+7.4% $242.0M0.0% $242.0M-0.4% $243.0M-0.8% $245.0M+6.5% $230.0M-0.9% $232.0M-0.4% $233.0M
Share Buybacks $222.0M+98.2% $112.0M0.0% $112.0M-73.4% $421.0M-43.9% $751.0M-26.7% $1.0B+155.0% $402.0M-28.6% $563.0M

CSX Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 36.0%+4.3pp 31.6%+1.3pp 30.3%-5.6pp 35.9%+5.5pp 30.4%-0.8pp 31.3%-6.2pp 37.4%-1.7pp 39.1%
Net Margin 23.2%+2.7pp 20.5%+1.2pp 19.4%-3.9pp 23.2%+4.3pp 18.9%-1.8pp 20.7%-4.0pp 24.7%-1.3pp 26.0%
Return on Equity 5.9%+0.5pp 5.5%+0.0pp 5.4%-1.3pp 6.7%+1.4pp 5.3%-0.5pp 5.9%-1.0pp 6.9%-0.7pp 7.6%
Return on Assets 1.8%+0.2pp 1.7%+0.1pp 1.6%-0.3pp 1.9%+0.4pp 1.5%-0.2pp 1.7%-0.4pp 2.1%-0.2pp 2.3%
Current Ratio 0.97+0.2 0.81-0.0 0.85+0.1 0.77-0.1 0.88+0.0 0.86-0.5 1.39+0.2 1.16
Debt-to-Equity 1.34-0.0 1.38-0.1 1.45-0.0 1.50-0.0 1.52+0.1 1.430.0 1.43+0.0 1.42
FCF Margin 20.9%+0.7pp 20.2%+3.3pp 16.9%+20.9pp -4.0%-19.6pp 15.7%+0.1pp 15.5%-13.8pp 29.3%+14.2pp 15.1%

Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Csx Corp (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.

Csx Corp (CSX) revenue declined by 3.1% year-over-year, from $14.5B to $14.1B in fiscal year 2025.

Yes, Csx Corp (CSX) reported a net income of $2.9B in fiscal year 2025, with a net profit margin of 20.5%.

Csx Corp (CSX) reported diluted earnings per share of $1.54 for fiscal year 2025. This represents a -14.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Csx Corp (CSX) had EBITDA of $6.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Csx Corp (CSX) had $670.0M in cash and equivalents against $18.2B in long-term debt.

Csx Corp (CSX) had an operating margin of 32.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Csx Corp (CSX) had a net profit margin of 20.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Csx Corp (CSX) paid $0.52 per share in dividends during fiscal year 2025.

Csx Corp (CSX) has a return on equity of 21.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Csx Corp (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.

Csx Corp (CSX) generated $4.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Csx Corp (CSX) had $43.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Csx Corp (CSX) invested $2.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Csx Corp (CSX) spent $1.4B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Csx Corp (CSX) had 1.86B shares outstanding as of fiscal year 2025.

Csx Corp (CSX) had a current ratio of 0.81 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Csx Corp (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.

Csx Corp (CSX) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Csx Corp (CSX) has an Altman Z-Score of 2.63, 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.

Csx Corp (CSX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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.

Csx Corp (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.

Csx Corp (CSX) has an interest coverage ratio of 5.4x, 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.

Csx Corp (CSX) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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