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). Explore Norfolk Southern Corporation capex to cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
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. For the full cash flow conversion analysis, see Norfolk Southern Corporation (NSC) cash flow conversion.
Annual Free Cash Flow Generation for Norfolk Southern Corporation (1989–2025)
Year-by-year Free Cash Flow Generation Index for Norfolk Southern Corporation. Check NSC total capital reinvestment ratio to assess the company's total reinvestment commitment from operating cash flow.
| 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 | — |