Norfolk Southern Corporation (NSC) — Free Cash Flow Generation Index
Norfolk Southern Corporation (NSC) has a Free Cash Flow Generation Index of 2.39x as of December 2025. Free cash flow of $2.54 Billion represents 2% of operating cash flow ($1.06 Billion). Read Norfolk Southern Corporation (NSC) financial obligations for a breakdown of total debt and financial obligations.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Norfolk Southern Corporation Free Cash Flow Generation Index (1989–2025)
Historical FCF Generation Index trend for Norfolk Southern Corporation across 37 annual periods. Explore Norfolk Southern Corporation capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for Norfolk Southern Corporation (1989–2025)
Year-by-year Free Cash Flow Generation Index for Norfolk Southern Corporation. For the full company profile including market capitalisation, see Norfolk Southern Corporation (NSC) total market value.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.49x | $2.16 Billion | $4.36 Billion | $2.20 Billion | ▲ +19.9% |
| 2024 | 0.41x | $1.67 Billion | $4.05 Billion | $2.38 Billion | ▲ +57.9% |
| 2023 | 0.26x | $830.00 Million | $3.18 Billion | $2.35 Billion | ▼ -51.5% |
| 2022 | 0.54x | $2.27 Billion | $4.22 Billion | $1.95 Billion | ▼ -17.7% |
| 2021 | 0.65x | $2.79 Billion | $4.25 Billion | $1.47 Billion | ▲ +11.1% |
| 2020 | 0.59x | $2.14 Billion | $3.64 Billion | $1.49 Billion | ▲ +22.4% |
| 2019 | 0.48x | $1.87 Billion | $3.89 Billion | $2.02 Billion | ▲ +1.0% |
| 2018 | 0.48x | $1.77 Billion | $3.73 Billion | $1.95 Billion | ▲ +1.3% |
| 2017 | 0.47x | $1.53 Billion | $3.25 Billion | $1.72 Billion | ▲ +24.4% |
| 2016 | 0.38x | $1.15 Billion | $3.03 Billion | $1.89 Billion | ▲ +121.1% |
| 2015 | 0.17x | $492.00 Million | $2.88 Billion | $2.38 Billion | ▼ -33.6% |
| 2014 | 0.26x | $734.00 Million | $2.85 Billion | $2.12 Billion | ▼ -28.4% |
| 2013 | 0.36x | $1.11 Billion | $3.08 Billion | $1.97 Billion | ▲ +33.8% |
| 2012 | 0.27x | $824.00 Million | $3.06 Billion | $2.24 Billion | ▼ -18.7% |
| 2011 | 0.33x | $1.07 Billion | $3.23 Billion | $2.16 Billion | ▼ -27.9% |
| 2010 | 0.46x | $1.24 Billion | $2.71 Billion | $1.47 Billion | ▲ +52.0% |
| 2009 | 0.30x | $561.00 Million | $1.86 Billion | $1.30 Billion | ▼ -29.2% |
| 2008 | 0.43x | $1.16 Billion | $2.71 Billion | $1.56 Billion | ▲ +0.2% |
| 2007 | 0.43x | $992.00 Million | $2.33 Billion | $1.34 Billion | ▼ -8.8% |
| 2006 | 0.47x | $1.03 Billion | $2.21 Billion | $1.18 Billion | ▼ -9.2% |
| 2005 | 0.51x | $1.08 Billion | $2.10 Billion | $1.02 Billion | ▲ +37.5% |
| 2004 | 0.37x | $620.00 Million | $1.66 Billion | $1.04 Billion | ▲ +17.8% |
| 2003 | 0.32x | $334.00 Million | $1.05 Billion | $720.00 Million | ▲ +123.2% |
| 2002 | 0.14x | $114.00 Million | $803.00 Million | $689.00 Million | ▲ +200.9% |
| 2001 | -0.14x | $-92.00 Million | $654.00 Million | $746.00 Million | ▼ -130.9% |
| 2000 | 0.46x | $611.00 Million | $1.34 Billion | $731.00 Million | ▲ +164.0% |
| 1999 | -0.71x | $-379.00 Million | $533.00 Million | $912.00 Million | ▼ -858.9% |
| 1998 | -0.07x | $-66.00 Million | $890.00 Million | $956.00 Million | ▼ -131.0% |
| 1997 | 0.24x | $275.00 Million | $1.15 Billion | $875.00 Million | ▼ -44.2% |
| 1996 | 0.43x | $516.50 Million | $1.20 Billion | $688.20 Million | ▼ -8.3% |
| 1995 | 0.47x | $578.50 Million | $1.24 Billion | $658.90 Million | ▲ +24.0% |
| 1994 | 0.38x | $431.40 Million | $1.14 Billion | $712.90 Million | ▲ +60.5% |
| 1993 | 0.23x | $205.40 Million | $874.60 Million | $669.20 Million | ▼ -7.0% |
| 1992 | 0.25x | $242.10 Million | $958.20 Million | $716.10 Million | ▲ +87.0% |
| 1991 | 0.14x | $103.00 Million | $762.40 Million | $659.40 Million | ▼ -58.7% |
| 1990 | 0.33x | $325.00 Million | $994.70 Million | $669.70 Million | ▼ -20.6% |
| 1989 | 0.41x | $455.60 Million | $1.11 Billion | $651.60 Million | — |