Canadian National Railway/$CNI
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Capital at risk
About Canadian National Railway
Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2025, CN generated CAD 17.7 billion in revenue by hauling intermodal containers (22% of consolidated revenue), petroleum and chemicals (21%), grain and fertilizers (23%), forest products (10%), metals and minerals (11%), automotive shipments (5%), and coal (5%). Other items constitute the remaining revenue.
- Ticker
- $CNI
- Sector
- Mobility
- Primary listing
- NYSE
- Employees
- 23,825
- Headquarters
- Montreal, Canada
- Website
- www.cn.ca
CNI Metrics
BasicAdvanced
$73B
21.97
$5.49
1.00
$2.63
2.20%
Price and volume
Market cap
$73B
Beta
1
52-week high
$131.55
52-week low
$90.74
Average daily volume
1.2M
Dividend rate
$2.63
Financial strength
Current ratio
0.871
Quick ratio
0.496
Long term debt to equity
1.011
Total debt to equity
1.039
Dividend payout ratio (TTM)
46.15%
Interest coverage (TTM)
7.71%
Profitability
EBITDA (TTM)
6,450.674
Gross margin (TTM)
55.97%
Net profit margin (TTM)
26.92%
Operating margin (TTM)
40.65%
Effective tax rate (TTM)
25.01%
Revenue per employee (TTM)
$528,970
Management effectiveness
Return on assets (TTM)
7.72%
Return on equity (TTM)
22.02%
Valuation
Price to earnings (TTM)
21.974
Price to revenue (TTM)
5.916
Price to book
4.74
Price to tangible book (TTM)
4.86
Price to free cash flow (TTM)
29.613
Free cash flow yield (TTM)
3.38%
Free cash flow per share (TTM)
4.077
Dividend yield (TTM)
2.18%
Forward dividend yield
2.20%
Growth
Revenue change (TTM)
3.60%
Earnings per share change (TTM)
7.45%
3-year revenue growth (CAGR)
0.64%
10-year revenue growth (CAGR)
3.83%
3-year earnings per share growth (CAGR)
-0.12%
10-year earnings per share growth (CAGR)
5.56%
3-year dividend per share growth (CAGR)
5.79%
10-year dividend per share growth (CAGR)
10.12%
What the Analysts think about CNI
Analyst ratings (Buy, Hold, Sell) for Canadian National Railway stock.
Analyst projections of the future price of Canadian National Railway stock.
Bulls say / Bears say
CN raised its 2026 outlook after stronger first-half volumes and execution: it now expects low single-digit revenue-ton-mile growth and mid-to-high single-digit adjusted EPS growth, versus previously flat volumes. Second-quarter adjusted EPS rose 11% and revenue rose 11%, showing the upgrade is backed by delivered results. (CN, The Wall Street Journal)
Productivity is creating operating leverage: CN’s Fast Track programme generated nearly C$100 million of first-half savings, while crew productivity rose 13%, locomotive utilisation 7% and fuel efficiency 3%. Lower, more normalised capital spending should also support free cash flow and shareholder returns. (MarketBeat, CN)
The Union Pacific agreement extends CN’s reach towards Mexico through Memphis and Ferromex, opening a route into a large trade corridor without straining CN’s network. Management describes it as a once-in-a-generation opportunity, while existing western capacity gives the railway room to handle additional volumes. (StockAnalysis, MarketBeat)
Higher diesel prices are eroding the benefit of fuel surcharges: CN’s CFO cut the expected third-quarter EPS tailwind from C$0.15 to about C$0.10 and said the operating ratio could be hit by 50 basis points in the third quarter and 150–200 basis points in the fourth. That leaves earnings and margins exposed to further fuel volatility. (MarketBeat)
Recent volume growth is concentrated in a bumper Canadian grain crop: excluding grain, revenue ton-miles were up only 1% year to date, while lumber and international intermodal remained weak. A normalised harvest or continued weakness in these segments would make the raised outlook harder to deliver. (MarketBeat, Investing.com)
Trade policy remains a direct demand risk because CN ships across Canada, the US and into cross-border supply chains. Management has flagged heightened risk from tariffs, geopolitical conflict and macroeconomic volatility, while its guidance assumes tariff conditions do not worsen; a deterioration could hit export-heavy traffic such as metals, forest products and intermodal. (CN, The Globe and Mail)
Data summarised monthly by Lightyear AI. Last updated on 28 Sept 2026.
CNI Financial Performance
Revenues and expenses
CNI Earnings Performance
Company profitability
Upcoming events
No upcoming events
CNI News
AllArticlesVideos
Funds containing CNI
AllEURGBPUSD
Fund name | Fund size | $CNI weighting |
|---|---|---|
SPDR MSCI World Industrials€WIND | €217M | 0.64% |
Xtrackers MSCI World Ex USA€EXUS | €6.8B | 0.25% |
Xtrackers MSCI World Ex USA£XMWX | £5.9B | 0.25% |
Xtrackers MSCI World Momentum£XDEM | $2.4B | 0.16% |
Amundi MSCI World ESG Broad Transition€LWCR | €1.1B | 0.11% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.