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Nasdaq · Industrials

CSX CORP (CSX)

As-reported financials and SEC filings for CSX CORP. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CSX CORP

CSX Corporation is a transportation company based in Jacksonville, Florida, that provides rail-based freight transportation services across the eastern United States and parts of Canada. Its main services include traditional rail freight, intermodal container and trailer transport, and trucking through its subsidiary Quality Carriers. CSX serves a diverse range of customers including manufacturers, industrial producers, the automotive industry, construction companies, farmers, wholesalers, retailers, and energy producers.

Snapshot

Revenue
$14.09B
Revenue growth (YoY)
-3.1%
Net income
$2.89B
Diluted EPS
$1.54
Gross margin
Operating margin
32.1%
Net margin
20.5%
FCF margin
12.1%
ROE
22.0%
net income / fiscal-year-end equity
P/E
28.7×
trailing when available, otherwise FY EPS
Market cap
$91.53B
Long-term debt / equity
1.38×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Csx

  • Revenue fell 3.1% to $14.1B in FY2025, after a 0.8% decline the year before.
  • Operating margin is 32.1% in FY2025, -12.6 pp against 44.7% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $3.9B, up 10.1% from Q2 FY2025.
  • Free cash flow was $1.7B in FY2025, 12.1% of revenue.
  • Net income fell 16.7% to $2.9B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Csx’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin32.1%
96th percentile of 605
Net margin20.5%
93rd percentile of 645
FCF margin12.1%
76th percentile of 562
Revenue growth (YoY)-3.1%
25th percentile of 668
ROE22.0%
85th percentile of 600
P/E28.7×
62nd percentile of 435
Long-term debt / equity1.38×
85th percentile of 409
Short interest3.46d
54th percentile of 676

Csx’s operating margin of 32.1% ranks in the 96th percentile of the 605 Industrials companies reporting it. Csx’s net margin of 20.5% ranks in the 93rd percentile of the 645 Industrials companies reporting it. Csx’s return on equity of 22.0% ranks in the 85th percentile of the 600 Industrials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 2 insider sales totaling $2.3M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+7 quant / multi-strat
Initiated / added
7
0 new, 7 added
Reduced / exited
4
3 trimmed, 1 exited
Combined position
$912.5M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$262.1M5.5MAdded
Millennium ManagementquantQ2 2026$215.0M4.5MAdded
AQR Capital ManagementquantQ2 2026$114.2M2.4MAdded
Point72 Asset ManagementquantQ2 2026$112.2M2.4MReduced
Bridgewater AssociatesQ2 2026$106.0M2.2MReduced
Renaissance TechnologiesquantQ2 2026$30.2M634.8KAdded
Gotham Asset ManagementQ2 2026$28.2M593.8KAdded
Markel GroupQ2 2026$27.8M584.5KAdded
D. E. ShawquantQ2 2026$16.2M340.6KAdded
Two Sigma InvestmentsquantQ2 2026$710,95415.0KReduced

No longer held by: Viking Global Investors (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
2
$2.3M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-24
filed 2026-07-27
Williams Angela CVP & Chief Accounting OfficerSell30.0K$53.29$1.6M
2026-07-24
filed 2026-07-27
Burns Michael S.SVP - CLO & Corp SecySell13.0K$52.68$685K
2026-06-03
filed 2026-06-05
Boone Kevin S.EVP & CFOSell136.7K$46.70$6.4M
2026-06-03
filed 2026-06-04
ZILLMER JOHN JDirectorSell10.0K$46.45$465K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
34.3M
settled 2026-08-14
Change vs prior
-5.6%
vs previous settlement
Days to cover
3.46
at avg daily volume
Avg daily volume
9.9M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1434.3M-5.6%3.46
2026-07-3136.4M-1.7%2.25
2026-07-1537.0M-5.1%3.64
2026-06-3039.0M-4.4%2.96
2026-06-1540.8M+6.9%3.58
2026-05-2938.2M+13.1%2.96
2026-05-1533.7M-13.7%2.76
2026-04-3039.1M-7.1%2.94

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$14.09B$14.54B$14.66B$14.85B$12.52B
Gross profit
Operating income$4.52B$5.25B$5.50B$5.95B$5.59B
Net income$2.89B$3.47B$3.67B$4.11B$3.78B
Diluted EPS$1.54$1.79$1.82$1.92$1.68

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$4.61B$5.25B$5.51B$5.53B$5.10B
Capital expenditure$2.90B$2.53B$2.26B$2.11B$1.79B
Free cash flow$1.71B$2.72B$3.26B$3.41B$3.31B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$3.94B10.1%$1.00B$0.54
Q1 FY2026$3.48B1.7%$807.0M$0.43
Q4 FY2025$3.51B-0.9%$720.0M$0.39
Q3 FY2025$3.59B-0.9%$694.0M$0.37
Q2 FY2025$3.57B-3.4%$829.0M$0.44
Q1 FY2025$3.42B-7.0%$646.0M$0.34
Q4 FY2024$3.54B$733.0M$0.38
Q3 FY2024$3.62B1.3%$894.0M$0.46

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorIndustrials
SIC industryRailroads, Line-Haul Operating
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2015
SEC CIK277948

Selected SEC filings

10-K2026-02-12
View on EDGAR →
10-K2025-02-27
View on EDGAR →
10-Q2026-07-22
View on EDGAR →
10-Q2026-04-22
View on EDGAR →
10-Q2025-10-16
View on EDGAR →
10-Q2025-07-23
View on EDGAR →
8-K2026-07-22
View on EDGAR →
8-K2026-05-14
View on EDGAR →

Largest Industrials peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.