Canadian National Railway Co (CNR) - Net Assets
Based on the latest financial reports, Canadian National Railway Co (CNR) has net assets worth CA$21.57 Billion CAD (≈ $15.60 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$58.55 Billion ≈ $42.36 Billion USD) and total liabilities (CA$36.99 Billion ≈ $26.76 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Explore CNR cash flow metrics to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$21.57 Billion |
| % of Total Assets | 36.83% |
| Annual Growth Rate | 7.74% |
| 5-Year Change | -5.17% |
| 10-Year Change | 45.33% |
| Growth Volatility | 12.21 |
Canadian National Railway Co - Net Assets Trend (1995–2025)
This chart illustrates how Canadian National Railway Co's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see market cap of Canadian National Railway Co.
Annual Net Assets for Canadian National Railway Co (1995–2025)
The table below shows the annual net assets of Canadian National Railway Co from 1995 to 2025. Read total liabilities of Canadian National Railway Co for a breakdown of total debt and financial obligations.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$21.57 Billion ≈ $15.60 Billion |
+2.46% |
| 2024-12-31 | CA$21.05 Billion ≈ $15.23 Billion |
+4.64% |
| 2023-12-31 | CA$20.12 Billion ≈ $14.55 Billion |
-5.92% |
| 2022-12-31 | CA$21.38 Billion ≈ $15.47 Billion |
-5.98% |
| 2021-12-31 | CA$22.74 Billion ≈ $16.45 Billion |
+15.74% |
| 2020-12-31 | CA$19.65 Billion ≈ $14.22 Billion |
+8.92% |
| 2019-12-31 | CA$18.04 Billion ≈ $13.05 Billion |
+2.27% |
| 2018-12-31 | CA$17.64 Billion ≈ $12.76 Billion |
+5.91% |
| 2017-12-31 | CA$16.66 Billion ≈ $12.05 Billion |
+12.23% |
| 2016-12-31 | CA$14.84 Billion ≈ $10.74 Billion |
-0.73% |
| 2015-12-31 | CA$14.95 Billion ≈ $10.81 Billion |
+10.99% |
| 2014-12-31 | CA$13.47 Billion ≈ $9.74 Billion |
+3.99% |
| 2013-12-31 | CA$12.95 Billion ≈ $9.37 Billion |
+17.56% |
| 2012-12-31 | CA$11.02 Billion ≈ $7.97 Billion |
+3.16% |
| 2011-12-31 | CA$10.68 Billion ≈ $7.73 Billion |
-5.35% |
| 2010-12-31 | CA$11.28 Billion ≈ $8.16 Billion |
+0.45% |
| 2009-12-31 | CA$11.23 Billion ≈ $8.13 Billion |
+6.38% |
| 2008-12-31 | CA$10.56 Billion ≈ $7.64 Billion |
+3.75% |
| 2007-12-31 | CA$10.18 Billion ≈ $7.36 Billion |
+3.59% |
| 2006-12-31 | CA$9.82 Billion ≈ $7.11 Billion |
+6.22% |
| 2005-12-31 | CA$9.25 Billion ≈ $6.69 Billion |
-0.38% |
| 2004-12-31 | CA$9.28 Billion ≈ $6.72 Billion |
+10.10% |
| 2003-12-31 | CA$8.43 Billion ≈ $6.10 Billion |
+0.75% |
| 2002-12-31 | CA$8.37 Billion ≈ $6.05 Billion |
+11.77% |
| 2001-12-31 | CA$7.49 Billion ≈ $5.42 Billion |
+13.49% |
| 2000-12-31 | CA$6.60 Billion ≈ $4.77 Billion |
+1.88% |
| 1999-12-31 | CA$6.48 Billion ≈ $4.68 Billion |
+29.38% |
| 1998-12-31 | CA$5.01 Billion ≈ $3.62 Billion |
+46.35% |
| 1997-12-31 | CA$3.42 Billion ≈ $2.47 Billion |
+43.69% |
| 1996-12-31 | CA$2.38 Billion ≈ $1.72 Billion |
+3.23% |
| 1995-12-31 | CA$2.31 Billion ≈ $1.67 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Canadian National Railway Co's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 18090.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$18.92 Billion | 87.71% |
| Common Stock | CA$3.45 Billion | 16.01% |
| Other Comprehensive Income | CA$-1.07 Billion | -4.95% |
| Other Components | CA$263.00 Million | 1.22% |
| Total Equity | CA$21.57 Billion | 100.00% |
Canadian National Railway Co Competitors by Market Cap
The table below lists competitors of Canadian National Railway Co ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DoorDash, Inc. Class A Common Stock
NASDAQ:DASH
|
$69.45 Billion |
|
NetEase Inc
NASDAQ:NTES
|
$70.02 Billion |
|
Münchener Rück AG
XETRA:MUV2
|
$70.09 Billion |
|
Hyundai Motor Co. Ltd.
KO:005380
|
$70.23 Billion |
|
Ross Stores Inc
NASDAQ:ROST
|
$69.00 Billion |
|
Kinder Morgan Inc
NYSE:KMI
|
$68.95 Billion |
|
Aon PLC
NYSE:AON
|
$68.88 Billion |
|
Barrick Mining Corporation
NYSE:B
|
$68.85 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Canadian National Railway Co's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 21,051,000,000 to 21,568,000,000, a change of 517,000,000 (2.5%).
- Net income of 4,720,000,000 contributed positively to equity growth.
- Dividend payments of 2,208,000,000 reduced retained earnings.
- Share repurchases of 2,120,000,000 reduced equity.
- Other comprehensive income decreased equity by 47,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$4.72 Billion | +21.88% |
| Dividends Paid | CA$2.21 Billion | -10.24% |
| Share Repurchases | CA$2.12 Billion | -9.83% |
| Other Comprehensive Income | CA$-47.00 Million | -0.22% |
| Other Changes | CA$172.00 Million | +0.8% |
| Total Change | CA$- | 2.46% |
Book Value vs Market Value Analysis
This analysis compares Canadian National Railway Co's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.53x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 69.27x to 4.53x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | CA$2.26 | CA$156.71 | x |
| 1996-12-31 | CA$2.35 | CA$156.71 | x |
| 1997-12-31 | CA$3.04 | CA$156.71 | x |
| 1998-12-31 | CA$4.56 | CA$156.71 | x |
| 1999-12-31 | CA$5.38 | CA$156.71 | x |
| 2000-12-31 | CA$5.48 | CA$156.71 | x |
| 2001-12-31 | CA$6.28 | CA$156.71 | x |
| 2002-12-31 | CA$6.92 | CA$156.71 | x |
| 2003-12-31 | CA$7.26 | CA$156.71 | x |
| 2004-12-31 | CA$8.01 | CA$156.71 | x |
| 2005-12-31 | CA$8.23 | CA$156.71 | x |
| 2006-12-31 | CA$9.20 | CA$156.71 | x |
| 2007-12-31 | CA$10.02 | CA$156.71 | x |
| 2008-12-31 | CA$11.00 | CA$156.71 | x |
| 2009-12-31 | CA$11.86 | CA$156.71 | x |
| 2010-12-31 | CA$12.00 | CA$156.71 | x |
| 2011-12-31 | CA$11.75 | CA$156.71 | x |
| 2012-12-31 | CA$12.59 | CA$156.71 | x |
| 2013-12-31 | CA$15.31 | CA$156.71 | x |
| 2014-12-31 | CA$16.36 | CA$156.71 | x |
| 2015-12-31 | CA$18.57 | CA$156.71 | x |
| 2016-12-31 | CA$19.05 | CA$156.71 | x |
| 2017-12-31 | CA$21.99 | CA$156.71 | x |
| 2018-12-31 | CA$23.91 | CA$156.71 | x |
| 2019-12-31 | CA$24.97 | CA$156.71 | x |
| 2020-12-31 | CA$27.56 | CA$156.71 | x |
| 2021-12-31 | CA$32.02 | CA$156.71 | x |
| 2022-12-31 | CA$31.07 | CA$156.71 | x |
| 2023-12-31 | CA$30.52 | CA$156.71 | x |
| 2024-12-31 | CA$33.18 | CA$156.71 | x |
| 2025-12-31 | CA$34.58 | CA$156.71 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Canadian National Railway Co utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 21.88%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.28%
- • Asset Turnover: 0.30x
- • Equity Multiplier: 2.71x
- Recent ROE (21.88%) is above the historical average (16.70%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | -47.05% | -26.48% | 0.66x | 2.69x | CA$-1.32 Billion |
| 1996 | 5.97% | 3.59% | 0.64x | 2.62x | CA$-96.04 Million |
| 1997 | 11.79% | 9.26% | 0.62x | 2.07x | CA$61.36 Million |
| 1998 | 5.27% | 6.45% | 0.34x | 2.37x | CA$-236.70 Million |
| 1999 | 11.63% | 14.34% | 0.32x | 2.54x | CA$105.74 Million |
| 2000 | 14.20% | 17.26% | 0.31x | 2.62x | CA$277.20 Million |
| 2001 | 13.89% | 18.40% | 0.27x | 2.83x | CA$291.20 Million |
| 2002 | 9.56% | 13.09% | 0.28x | 2.60x | CA$-36.90 Million |
| 2003 | 12.03% | 17.23% | 0.29x | 2.41x | CA$170.80 Million |
| 2004 | 13.55% | 19.21% | 0.29x | 2.41x | CA$329.60 Million |
| 2005 | 16.82% | 21.49% | 0.33x | 2.40x | CA$631.10 Million |
| 2006 | 21.24% | 26.32% | 0.33x | 2.44x | CA$1.10 Billion |
| 2007 | 21.20% | 27.33% | 0.34x | 2.31x | CA$1.14 Billion |
| 2008 | 17.95% | 22.34% | 0.32x | 2.53x | CA$839.10 Million |
| 2009 | 16.50% | 25.17% | 0.29x | 2.24x | CA$730.70 Million |
| 2010 | 18.65% | 25.36% | 0.33x | 2.23x | CA$975.60 Million |
| 2011 | 23.01% | 27.22% | 0.35x | 2.44x | CA$1.39 Billion |
| 2012 | 24.32% | 27.02% | 0.37x | 2.42x | CA$1.58 Billion |
| 2013 | 20.17% | 24.70% | 0.35x | 2.33x | CA$1.32 Billion |
| 2014 | 23.51% | 26.10% | 0.38x | 2.36x | CA$1.82 Billion |
| 2015 | 23.67% | 28.05% | 0.35x | 2.43x | CA$2.04 Billion |
| 2016 | 24.53% | 30.24% | 0.32x | 2.50x | CA$2.16 Billion |
| 2017 | 32.93% | 42.05% | 0.35x | 2.26x | CA$3.82 Billion |
| 2018 | 24.53% | 30.22% | 0.35x | 2.34x | CA$2.56 Billion |
| 2019 | 23.37% | 28.26% | 0.34x | 2.43x | CA$2.41 Billion |
| 2020 | 18.04% | 25.65% | 0.31x | 2.28x | CA$1.58 Billion |
| 2021 | 21.54% | 33.84% | 0.30x | 2.13x | CA$2.62 Billion |
| 2022 | 23.93% | 29.92% | 0.34x | 2.37x | CA$2.98 Billion |
| 2023 | 27.96% | 33.43% | 0.32x | 2.62x | CA$3.61 Billion |
| 2024 | 21.13% | 26.09% | 0.30x | 2.71x | CA$2.34 Billion |
| 2025 | 21.88% | 27.28% | 0.30x | 2.71x | CA$2.56 Billion |
Industry Comparison
This section compares Canadian National Railway Co's net assets metrics with peer companies in the Railroads industry.
Industry Context
- Industry: Railroads
- Average net assets among peers: $1,789,699,463
- Average return on equity (ROE) among peers: 19.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Canadian National Railway Co (CNR) | CA$21.57 Billion | -47.05% | 1.71x | $69.31 Billion |
| Canadian Pacific Railway Ltd (CP) | $3.56 Billion | 14.94% | 1.47x | $77.10 Billion |
| Kelso Technologies Inc (KLS) | $16.60 Million | 24.25% | 0.25x | $5.99 Million |
About Canadian National Railway Co
Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and related transportation businesses in Canada and the United States. The company provides rail services, which include equipment, customs brokerage, transloading and warehousing, business development, dimensional loads, and private railcar storage, less-than-truckload, and mexico servic… Read more