Stock Analysis on Net

Norfolk Southern Corp. (NYSE:NSC)

This company has been moved to the archive! The financial data has not been updated since April 27, 2022.

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Norfolk Southern Corp., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 0.35 0.31 0.36 0.37 0.35
Net fixed asset turnover (including operating lease, right-of-use asset) 0.35 0.31 0.35 0.37 0.35
Total asset turnover 0.29 0.26 0.30 0.32 0.30
Equity turnover 0.82 0.66 0.74 0.75 0.64

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Norfolk Southern Corp. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Norfolk Southern Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Norfolk Southern Corp. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Norfolk Southern Corp. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover

Norfolk Southern Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Railway operating revenues 11,142 9,789 11,296 11,458 10,551
Properties less accumulated depreciation 31,653 31,345 31,614 31,091 30,330
Long-term Activity Ratio
Net fixed asset turnover1 0.35 0.31 0.36 0.37 0.35
Benchmarks
Net Fixed Asset Turnover, Competitors2
FedEx Corp. 2.35 2.06 2.29
Uber Technologies Inc. 9.42 6.14 8.17
Union Pacific Corp. 0.40 0.36 0.40
United Parcel Service Inc. 2.91 2.62 2.43
Net Fixed Asset Turnover, Sector
Transportation 1.75 1.51 1.54
Net Fixed Asset Turnover, Industry
Industrials 3.04 2.41 2.76

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover = Railway operating revenues ÷ Properties less accumulated depreciation
= 11,142 ÷ 31,653 = 0.35

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Norfolk Southern Corp. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Norfolk Southern Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Railway operating revenues 11,142 9,789 11,296 11,458 10,551
 
Properties less accumulated depreciation 31,653 31,345 31,614 31,091 30,330
Operating lease ROU assets (classified in Other assets) 411 433 539
Properties less accumulated depreciation (including operating lease, right-of-use asset) 32,064 31,778 32,153 31,091 30,330
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 0.35 0.31 0.35 0.37 0.35
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
FedEx Corp. 1.64 1.46 2.29
Uber Technologies Inc. 5.39 3.61 4.25
Union Pacific Corp. 0.38 0.35 0.39
United Parcel Service Inc. 2.63 2.40 2.22
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Transportation 1.49 1.30 1.46
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.62 2.13 2.57

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Railway operating revenues ÷ Properties less accumulated depreciation (including operating lease, right-of-use asset)
= 11,142 ÷ 32,064 = 0.35

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Norfolk Southern Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Total Asset Turnover

Norfolk Southern Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Railway operating revenues 11,142 9,789 11,296 11,458 10,551
Total assets 38,493 37,962 37,923 36,239 35,711
Long-term Activity Ratio
Total asset turnover1 0.29 0.26 0.30 0.32 0.30
Benchmarks
Total Asset Turnover, Competitors2
FedEx Corp. 1.01 0.94 1.28
Uber Technologies Inc. 0.45 0.33 0.45
Union Pacific Corp. 0.34 0.31 0.35
United Parcel Service Inc. 1.40 1.36 1.28
Total Asset Turnover, Sector
Transportation 0.87 0.80 0.87
Total Asset Turnover, Industry
Industrials 0.60 0.51 0.61

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Total asset turnover = Railway operating revenues ÷ Total assets
= 11,142 ÷ 38,493 = 0.29

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Norfolk Southern Corp. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Equity Turnover

Norfolk Southern Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Railway operating revenues 11,142 9,789 11,296 11,458 10,551
Stockholders’ equity 13,641 14,791 15,184 15,362 16,359
Long-term Activity Ratio
Equity turnover1 0.82 0.66 0.74 0.75 0.64
Benchmarks
Equity Turnover, Competitors2
FedEx Corp. 3.47 3.78 3.92
Uber Technologies Inc. 1.21 0.91 1.00
Union Pacific Corp. 1.54 1.15 1.20
United Parcel Service Inc. 6.83 128.81 22.68
Equity Turnover, Sector
Transportation 3.29 3.83 3.37
Equity Turnover, Industry
Industrials 2.58 2.75 3.53

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Equity turnover = Railway operating revenues ÷ Stockholders’ equity
= 11,142 ÷ 13,641 = 0.82

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Norfolk Southern Corp. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.