Canadian National Railway Company (CNI) Financial Statements & Analysis

Canadian National Railway Company (CNI) Income Statement

Canadian National Railway Company reported revenue of CAD 17.30B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 1.5% from CAD 17.05B a year earlier. Net income was CAD 4.72B, up 6.1% year over year, a net margin of 27.3%. Gross margin was 53.6% and operating margin 38.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CAD 4.75B, up 11.3% from the same quarter a year earlier.

Canadian National Railway Company Income Statement Analysis

Values in billions CAD

Income Statement Balance Sheet Cash Flow Ratios

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Canadian National Railway Company income statement - Annual data in billions CAD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	17.30	17.05	16.83	17.11	14.48	13.82	14.92	14.32	13.04
Cost of Revenue	7.50	10.08	9.68	9.71	6.36	6.17	6.92	6.73	5.77
Gross Profit	9.27	6.97	7.15	7.40	8.11	7.65	8.00	7.59	7.27
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	1.18	0.00	-0.48	-0.50	0.00	0.00	0.00	0.00	0.00
Operating Expenses	2.68	0.64	0.55	0.56	2.50	2.88	2.41	2.10	2.03
Operating Income	6.59	6.33	6.60	6.84	5.62	4.78	5.59	5.49	5.24
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	-0.91	0.89	0.72	0.55	0.61	0.55	0.54	0.49	0.48
Other Income/Expense	-0.32	0.42	0.61	0.47	0.73	-0.26	-0.16	0.19	-0.15
Income
Income Before Tax	6.26	5.85	6.49	6.76	6.34	4.52	5.43	5.68	5.09
Income Tax Expense	1.54	1.40	0.86	1.65	1.44	0.98	1.21	1.35	-0.40
Net Income	4.72	4.45	5.63	5.12	4.90	3.55	4.22	4.33	5.48
Net Income - Continuous Operations	4.72	4.45	5.63	5.12	4.90	3.55	4.22	4.33	5.48
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	9.06	8.64	9.03	9.04	7.61	7.65	8.00	7.12	6.84
EBIT	7.12	6.74	7.21	7.31	6.01	-	-	-	-
Depreciation & Amortization	1.94	1.89	1.82	1.73	1.60	1.59	1.56	1.33	1.28
Earnings Per Share
Basic EPS	8.00	7.00	9.00	7.00	7.00	5.00	6.00	6.00	7.00
Diluted EPS	8.00	7.00	9.00	7.00	7.00	5.00	6.00	6.00	7.00
Basic Shares Outstanding	0.62	0.63	0.66	0.69	0.71	0.71	0.72	0.73	0.75
Diluted Shares Outstanding	0.62	0.63	0.66	0.69	0.71	0.71	0.72	0.74	0.76

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Canadian National Railway Company Financial Statements

What was Canadian National Railway Company's revenue in fiscal 2025?

Canadian National Railway Company reported revenue of CAD 17.30B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 1.5% from CAD 17.05B a year earlier.

Is Canadian National Railway Company profitable?

Yes. Canadian National Railway Company earned net income of CAD 4.72B in fiscal 2025, a net margin of 27.3%. In fiscal 2024 it earned CAD 4.45B.

What is Canadian National Railway Company's operating margin?

Canadian National Railway Company's operating income was CAD 6.59B on revenue of CAD 17.30B in fiscal 2025, an operating margin of 38.1%, compared with 37.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition