Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

CSX Corporation

CSX stock analysis · Industrials · Rail Transportation

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$47.53HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$88B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$14.03

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -70.5% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

37.2%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

4.0%

76 sector peers · median 31.7×

How this is calculated ↗
Valuation

Historical multiples

19.4×

7 annual observations · snapshot P/E 30.5× · 56.8% versus history

How this is calculated ↗
Valuation

Free cash flow yield

1.9%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

11.6%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

41/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

2.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-4.0%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

-3.5%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 5.5B2020-12-31: cfo $4,263,000,000.002020-12-31: capex $1,626,000,000.0020202021-12-31: cfo $5,099,000,000.002021-12-31: capex $1,791,000,000.0020212022-12-31: cfo $5,526,000,000.002022-12-31: capex $2,113,000,000.0020222023-12-31: cfo $5,514,000,000.002023-12-31: capex $2,257,000,000.0020232024-12-31: cfo $5,247,000,000.002024-12-31: capex $2,529,000,000.0020242025-12-31: cfo $4,613,000,000.002025-12-31: capex $2,902,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$17.60$19.20$20.92
10.0%$12.89$14.03$15.25
12.0%$10.17$11.04$11.97

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3114.1B2.9B4.6B2.9B43.7B
2024-12-3114.5B3.5B5.2B2.5B42.8B
2023-12-3114.7B3.7B5.5B2.3B42.2B
2022-12-3114.9B4.1B5.5B2.1B41.7B
2021-12-3112.5B3.8B5.1B1.8B40.5B
2020-12-3110.6B2.8B4.3B1.6B39.8B
2019-12-3111.9B3.3B4.9B1.7B38.3B
2018-12-3112.3B3.3B4.6B1.7B36.7B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue14.1BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-12
netIncome2.9BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent/common earnings proxy2.9BNetIncomeLoss2026-02-12
cfo4.6BNetCashProvidedByUsedInOperatingActivities2026-02-12
capex2.9BPaymentsToAcquirePropertyPlantAndEquipment2026-02-12
operatingIncome4.5BOperatingIncomeLoss2026-02-12
assets43.7BAssets2026-02-12
equity13.2BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-12
Parent book equity proxy13.2BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest − MinorityInterest
Parent stockholders' equity derived by removing explicitly reported noncontrolling interests; preferred equity may remain included.
2026-02-12
debt18.9BLongTermDebtAndCapitalLeaseObligationsCurrent + LongTermDebtAndCapitalLeaseObligations2026-02-12
shortDebtNot reported under a supported tag
cash670MCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-12
shares1.9BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividends972MPaymentsOfDividendsCommonStock2026-02-12
buybacks1.4BPaymentsForRepurchaseOfCommonStock2026-02-12
issuanceNot reported under a supported tag