Liquidity ratios measure the company ability to meet its short-term obligations.

Norfolk Southern Corp., liquidity ratios (quarterly data)

	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Current ratio	0.96	0.86	1.13	1.08	1.02	1.07	1.29	1.21	0.90	0.90	0.73	0.78	0.67	0.72	0.86	0.81	1.04	0.84	0.83	0.83	0.95
Quick ratio	0.84	0.72	1.00	0.93	0.86	0.91	1.12	1.02	0.67	0.65	0.52	0.54	0.51	0.53	0.73	0.62	0.86	0.65	0.70	0.67	0.80
Cash ratio	0.50	0.33	0.61	0.60	0.44	0.52	0.68	0.59	0.27	0.25	0.16	0.11	0.14	0.14	0.30	0.18	0.45	0.27	0.30	0.27	0.39

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Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Norfolk Southern Corp. current ratio deteriorated from Q3 2021 to Q4 2021 but then slightly improved from Q4 2021 to Q1 2022.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Norfolk Southern Corp. quick ratio deteriorated from Q3 2021 to Q4 2021 but then slightly improved from Q4 2021 to Q1 2022.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Norfolk Southern Corp. cash ratio deteriorated from Q3 2021 to Q4 2021 but then improved from Q4 2021 to Q1 2022 not reaching Q3 2021 level.

Norfolk Southern Corp., current ratio calculation (quarterly data)

	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Selected Financial Data (US$ in millions)
Current assets	3,015)	2,167)	2,722)	3,012)	2,303)	2,318)	2,579)	2,350)	2,002)	2,081)	2,016)	1,914)	1,922)	1,862)	2,109)	1,904)	2,479)	2,149)	1,999)	1,936)	2,327)
Current liabilities	3,147)	2,521)	2,410)	2,796)	2,249)	2,160)	2,005)	1,935)	2,236)	2,300)	2,761)	2,451)	2,885)	2,591)	2,441)	2,352)	2,388)	2,545)	2,413)	2,343)	2,443)
Liquidity Ratio
Current ratio¹	0.96	0.86	1.13	1.08	1.02	1.07	1.29	1.21	0.90	0.90	0.73	0.78	0.67	0.72	0.86	0.81	1.04	0.84	0.83	0.83	0.95
Benchmarks
Current Ratio, Competitors²
FedEx Corp.	1.51	1.51	1.60	1.76	1.69	1.58	1.21	1.25	1.31	1.45	1.46	1.42	1.32	—	—	—	—	—	—	—	—
Uber Technologies Inc.	1.00	0.98	1.19	1.01	1.14	1.44	1.36	1.64	1.68	2.47	2.82	2.57	1.68	—	—	—	—	—	—	—	—
Union Pacific Corp.	0.71	0.62	0.75	0.86	0.76	1.01	1.06	0.96	0.82	0.79	0.89	0.72	0.75	—	—	—	—	—	—	—	—
United Parcel Service Inc.	1.52	1.42	1.48	1.39	1.29	1.19	1.29	1.24	1.22	1.11	1.11	1.09	1.13	—	—	—	—	—	—	—	—

¹ Q1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,015 ÷ 3,147 = 0.96

² Click competitor name to see calculations.

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Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Norfolk Southern Corp. current ratio deteriorated from Q3 2021 to Q4 2021 but then slightly improved from Q4 2021 to Q1 2022.

Norfolk Southern Corp., quick ratio calculation (quarterly data)

	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Selected Financial Data (US$ in millions)
Cash and cash equivalents	1,571)	839)	1,465)	1,670)	998)	1,115)	1,359)	1,143)	608)	580)	452)	274)	411)	358)	729)	430)	1,072)	690)	724)	642)	955)
Accounts receivable, net	1,070)	976)	945)	941)	944)	848)	883)	822)	889)	920)	973)	1,039)	1,048)	1,009)	1,043)	1,035)	973)	955)	973)	926)	998)
Total quick assets	2,641)	1,815)	2,410)	2,611)	1,942)	1,963)	2,242)	1,965)	1,497)	1,500)	1,425)	1,313)	1,459)	1,367)	1,772)	1,465)	2,045)	1,645)	1,697)	1,568)	1,953)

Current liabilities	3,147)	2,521)	2,410)	2,796)	2,249)	2,160)	2,005)	1,935)	2,236)	2,300)	2,761)	2,451)	2,885)	2,591)	2,441)	2,352)	2,388)	2,545)	2,413)	2,343)	2,443)
Liquidity Ratio
Quick ratio¹	0.84	0.72	1.00	0.93	0.86	0.91	1.12	1.02	0.67	0.65	0.52	0.54	0.51	0.53	0.73	0.62	0.86	0.65	0.70	0.67	0.80
Benchmarks
Quick Ratio, Competitors²
FedEx Corp.	1.39	1.40	1.50	1.63	1.56	1.45	1.07	1.11	1.18	1.27	1.29	1.23	1.15	—	—	—	—	—	—	—	—
Uber Technologies Inc.	0.83	0.82	1.01	0.85	0.96	1.19	1.20	1.45	1.49	2.24	2.58	2.36	1.48	—	—	—	—	—	—	—	—
Union Pacific Corp.	0.53	0.47	0.57	0.65	0.59	0.81	0.87	0.79	0.62	0.57	0.65	0.52	0.53	—	—	—	—	—	—	—	—
United Parcel Service Inc.	1.41	1.32	1.36	1.27	1.12	1.00	1.18	1.13	1.11	0.99	0.97	0.94	0.96	—	—	—	—	—	—	—	—

¹ Q1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 2,641 ÷ 3,147 = 0.84

² Click competitor name to see calculations.

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Liquidity ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Norfolk Southern Corp. quick ratio deteriorated from Q3 2021 to Q4 2021 but then slightly improved from Q4 2021 to Q1 2022.

Norfolk Southern Corp., cash ratio calculation (quarterly data)

	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Selected Financial Data (US$ in millions)
Cash and cash equivalents	1,571)	839)	1,465)	1,670)	998)	1,115)	1,359)	1,143)	608)	580)	452)	274)	411)	358)	729)	430)	1,072)	690)	724)	642)	955)
Total cash assets	1,571)	839)	1,465)	1,670)	998)	1,115)	1,359)	1,143)	608)	580)	452)	274)	411)	358)	729)	430)	1,072)	690)	724)	642)	955)

Current liabilities	3,147)	2,521)	2,410)	2,796)	2,249)	2,160)	2,005)	1,935)	2,236)	2,300)	2,761)	2,451)	2,885)	2,591)	2,441)	2,352)	2,388)	2,545)	2,413)	2,343)	2,443)
Liquidity Ratio
Cash ratio¹	0.50	0.33	0.61	0.60	0.44	0.52	0.68	0.59	0.27	0.25	0.16	0.11	0.14	0.14	0.30	0.18	0.45	0.27	0.30	0.27	0.39
Benchmarks
Cash Ratio, Competitors²
FedEx Corp.	0.53	0.52	0.65	0.69	0.62	0.47	0.17	0.19	0.24	0.26	0.31	0.22	0.25	—	—	—	—	—	—	—	—
Uber Technologies Inc.	0.55	0.55	0.85	0.69	0.81	1.03	1.08	1.34	1.39	2.02	2.36	2.13	1.25	—	—	—	—	—	—	—	—
Union Pacific Corp.	0.17	0.18	0.24	0.27	0.26	0.45	0.55	0.52	0.26	0.20	0.29	0.20	0.21	—	—	—	—	—	—	—	—
United Parcel Service Inc.	0.74	0.60	0.68	0.63	0.50	0.37	0.60	0.57	0.60	0.37	0.35	0.35	0.39	—	—	—	—	—	—	—	—

¹ Q1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 1,571 ÷ 3,147 = 0.50

² Click competitor name to see calculations.

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Liquidity ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Norfolk Southern Corp. cash ratio deteriorated from Q3 2021 to Q4 2021 but then improved from Q4 2021 to Q1 2022 not reaching Q3 2021 level.

Norfolk Southern Corp. (NYSE:NSC)

Analysis of Liquidity Ratios
Quarterly Data