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.

Enterprise Value to EBITDA (EV/EBITDA)

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Norfolk Southern Corp., EBITDA calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income 3,005 2,013 2,722 2,666 5,404
Add: Income tax expense 873 517 769 803 (2,276)
Earnings before tax (EBT) 3,878 2,530 3,491 3,469 3,128
Add: Interest expense on debt 646 625 604 557 550
Earnings before interest and tax (EBIT) 4,524 3,155 4,095 4,026 3,678
Add: Depreciation 1,181 1,154 1,139 1,104 1,059
Earnings before interest, tax, depreciation and amortization (EBITDA) 5,705 4,309 5,234 5,130 4,737

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Norfolk Southern Corp. EBITDA decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Enterprise Value to EBITDA Ratio, Current

Norfolk Southern Corp., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 75,570
Earnings before interest, tax, depreciation and amortization (EBITDA) 5,705
Valuation Ratio
EV/EBITDA 13.25
Benchmarks
EV/EBITDA, Competitors1
FedEx Corp. 7.74
Uber Technologies Inc. 39.50
Union Pacific Corp. 14.56
United Parcel Service Inc. 10.13
EV/EBITDA, Sector
Transportation 12.15
EV/EBITDA, Industry
Industrials 19.16

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Norfolk Southern Corp., historical EV/EBITDA 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)
Enterprise value (EV)1 77,842 73,428 66,454 56,645 48,511
Earnings before interest, tax, depreciation and amortization (EBITDA)2 5,705 4,309 5,234 5,130 4,737
Valuation Ratio
EV/EBITDA3 13.64 17.04 12.70 11.04 10.24
Benchmarks
EV/EBITDA, Competitors4
FedEx Corp. 8.22 10.09 12.96
Uber Technologies Inc. 227.40
Union Pacific Corp. 15.46 15.65 13.73
United Parcel Service Inc. 9.55 30.22 12.80
EV/EBITDA, Sector
Transportation 12.42 30.99 22.19
EV/EBITDA, Industry
Industrials 16.21 26.87 17.56

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 See details »

2 See details »

3 2021 Calculation
EV/EBITDA = EV ÷ EBITDA
= 77,842 ÷ 5,705 = 13.64

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Norfolk Southern Corp. EV/EBITDA ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.