# CANADIAN NATIONAL RAILWAY CO (CNI) Informational only - not investment advice. CIK: 0000016868 SIC: 4011 Railroads, Line-Haul Operating SIC breadcrumb: [Transportation, Communications, Electric, Gas, And Sanitary Services](/division/E/) > [Railroad Transportation](/major-group/40/) > [SIC 4011 Railroads, Line-Haul Operating](/industry/4011/) Latest 10-K filed: 2026-02-04 SEC page: https://www.sec.gov/edgar/browse/?CIK=16868 Filing source: https://www.sec.gov/Archives/edgar/data/16868/000110465926010352/tm261145d1_40f.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-02-04 · accession 0000016868-26-000011 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000016868.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 17,304,000,000 CAD | 2025 | verified | | Net income | 4,720,000,000 CAD | 2025 | verified | | Assets | 58,555,000,000 CAD | 2025 | verified | | Free cash flow | 3,391,000,000 CAD | 2025 | computed | | Net margin | 27.28% | 2025 | computed | | Operating margin | 38.07% | 2025 | computed | | Revenue YoY | +1.51% | 2025 | computed | | ROE | 21.88% | 2025 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. Peer groups: [North American Class I railroads](/compare/railroads/) · SIC 4011 Railroads, Line-Haul Operating No market price, no rating, no forecast on this site. Not investment advice. ## Peer comparisons including CNI - North American Class I railroads: [peer review](/compare/railroads/) · [market-risk page](/compare/railroads/risk/) ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 17304000000 | CAD | 2025 | 2026-02-04 | | Net income | 4720000000 | CAD | 2025 | 2026-02-04 | | Assets | 58555000000 | CAD | 2025 | 2026-02-04 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-04. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000016868.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | | 12,037,000,000 | 13,041,000,000 | 14,321,000,000 | 14,917,000,000 | 13,819,000,000 | | 17,107,000,000 | 16,828,000,000 | 17,046,000,000 | 17,304,000,000 | | Net income | | 3,538,000,000 | 3,640,000,000 | 5,484,000,000 | 4,328,000,000 | 4,216,000,000 | 3,562,000,000 | | 5,118,000,000 | 5,625,000,000 | 4,448,000,000 | 4,720,000,000 | | Operating income | | 5,266,000,000 | 5,032,000,000 | 5,243,000,000 | 5,493,000,000 | 5,593,000,000 | 4,777,000,000 | | 6,840,000,000 | 6,597,000,000 | 6,247,000,000 | 6,587,000,000 | | Diluted EPS | | 4.39 | 4.67 | 7.24 | 5.87 | 5.83 | 5.00 | | 7.44 | 8.53 | 7.01 | 7.57 | | Operating cash flow | | 5,140,000,000 | 5,202,000,000 | 5,516,000,000 | 5,918,000,000 | 5,923,000,000 | 6,165,000,000 | | 6,667,000,000 | 6,965,000,000 | 6,699,000,000 | 7,049,000,000 | | Capital expenditures | | 2,706,000,000 | 2,695,000,000 | 2,673,000,000 | 3,531,000,000 | 3,865,000,000 | 2,863,000,000 | | 2,750,000,000 | 3,187,000,000 | 3,549,000,000 | 3,658,000,000 | | Dividends paid | | 996,000,000 | 1,159,000,000 | 1,239,000,000 | 1,333,000,000 | 1,544,000,000 | 1,634,000,000 | | 2,004,000,000 | 2,071,000,000 | 2,138,000,000 | 2,208,000,000 | | Share buybacks | | 1,742,000,000 | 1,992,000,000 | 2,016,000,000 | 2,000,000,000 | 1,700,000,000 | 379,000,000 | | 4,709,000,000 | 4,551,000,000 | 2,600,000,000 | 2,059,000,000 | | Assets | 31,687,000,000 | 36,402,000,000 | 37,057,000,000 | 37,629,000,000 | 41,214,000,000 | 43,784,000,000 | 44,804,000,000 | | | 52,666,000,000 | 57,067,000,000 | 58,555,000,000 | | Liabilities | | | | | | | | | | 32,549,000,000 | 36,016,000,000 | 36,987,000,000 | | Stockholders' equity | | | 14,841,000,000 | 16,656,000,000 | 17,641,000,000 | 18,041,000,000 | 19,651,000,000 | 22,744,000,000 | 21,384,000,000 | 20,117,000,000 | 21,051,000,000 | 21,568,000,000 | | Cash and cash equivalents | | 153,000,000 | 176,000,000 | 70,000,000 | 266,000,000 | 64,000,000 | 569,000,000 | | 328,000,000 | 475,000,000 | 389,000,000 | 350,000,000 | | Free cash flow | | 2,434,000,000 | 2,507,000,000 | 2,843,000,000 | 2,387,000,000 | 2,058,000,000 | 3,302,000,000 | | 3,917,000,000 | 3,778,000,000 | 3,150,000,000 | 3,391,000,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | | 30.24% | 42.05% | 30.22% | 28.26% | 25.78% | | 29.92% | 33.43% | 26.09% | 27.28% | | Operating margin | | | 41.80% | 40.20% | 38.36% | 37.49% | 34.57% | | 39.98% | 39.20% | 36.65% | 38.07% | | Return on equity | | | 24.53% | 32.93% | 24.53% | 23.37% | 18.13% | | 23.93% | 27.96% | 21.13% | 21.88% | | Return on assets | | 9.72% | 9.82% | 14.57% | 10.50% | 9.63% | 7.95% | | | 10.68% | 7.79% | 8.06% | | Liabilities / equity | | | | | | | | | | 1.62 | 1.71 | 1.71 | | Current ratio | 0.91 | 0.72 | 0.70 | 0.55 | 0.78 | 0.66 | 0.95 | | | 0.61 | 0.66 | 0.67 | ## As-reported value updates 2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/CNI/revisions/ ## Quarterly No clean discrete quarterly SEC companyfacts metrics were extracted for this company. ## Filed narrative (10-K & 10-Q) ## Latest quarter (10-Q) No recent 10-Q filing was found in the SEC submissions feed for this filer. ## Latest 10-K MD&A MD&A text quarantined because Item 7 boundaries were low-confidence, or no Item 7 text was extracted. No filing narrative is emitted for this company until the parser has a clean span. All MD&A years: /company/CNI/mda/ ## Macro cross-references Indicators mapped to this company's SIC classification (industry 4011 Railroads, Line-Haul Operating) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product - [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index - [BOPGSTB](/indicator/BOPGSTB/): U.S. International Trade in Goods and Services: Balance - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity Macro-to-micro threads including this sector: [Money & trade](/thread/money-trade/), [Trade & external](/thread/trade-external/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/CNI.md · JSON record: /company/CNI.json · verified financials: /company/CNI/financials.json / /company/CNI/financials.csv · machine TOC for the whole site: /llms.txt