NORFOLK SOUTHERN CORP

Railroads, Line-Haul Operating·ATLANTA, GA·FY end 12/31·CIK 702165

CEO Pay Ratio

137:1

CEO Total Comp

—

Median Employee

$118,895

Revenue

$12.2B

FY 2025

Net Income

$2.9B

FY 2025

Free Cash Flow

$2.2B

FY 2025

Net Margin

23.6%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

—

Not enough data to compute.

CEO comp as % of buybacks

—

No buyback data for the most recent fiscal year.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$12.2B	$12.1B	$12.2B	$12.7B	$11.1B
Gross Profit	—	—	—	—	—	—
Operating Income	$4.4B	$4.1B	$2.9B	$4.8B	$4.4B
Net Income	$2.9B	$2.6B	$1.8B	$3.3B	$3.0B
Operating CF	$4.4B	$4.1B	$3.2B	$4.2B	$4.3B
Capex	$2.2B	$2.4B	$2.3B	$1.9B	$1.5B
Free Cash Flow	$2.2B	$1.7B	$830.0M	$2.3B	$2.8B
Buybacks	$534.0M	$0	$622.0M	$3.1B	$3.4B
Dividends	$1.2B	$1.2B	$1.2B	$1.2B	$1.0B

Gross Margin	—	—	—	—	—	—
Operating Margin	35.8%	33.6%	23.5%	37.7%	39.9%
Net Margin	23.6%	21.6%	15.0%	25.7%	27.0%
FCF Margin	17.7%	13.8%	6.8%	17.8%	25.0%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	21.6%	21.2%	21.3%	20.8%	22.5%
Debt / Equity	—	—	—	—	—	—
Buybacks / FCF	24.8%	0.0%	74.9%	136.8%	121.7%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Anil BhattExecutive Vice President &	$650.0K	$495.0K	$1.2M	$2.1M	$4.4M	—
Claude E. ElkinsExecutive Vice President &	$675.0K	$600.0K	$1.2M	$4.4M	$6.9M	—
Jason A. ZampiExecutive Vice President &	$650.0K	$520.0K	$1.2M	$2.5M	$4.9M	—
John F. OrrExecutive Vice President &	$750.0K	$620.0K	$1.3M	$2.8M	$5.7M	—
Mark R. GeorgePresident & Chief	$1.1M	$2.3M	$2.9M	$9.7M	$16.4M	—