Canadian National Railway Company (CNI) Balance Sheet: Assets & Liabilities

Canadian National Railway Company (CNI) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Canadian National Railway Company reported total assets of CAD 58.55B and total liabilities of CAD 36.99B. Shareholders' equity was CAD 21.57B, up 2.5% from CAD 21.05B a year earlier. Total debt stood at CAD 21.21B against CAD 350.00M in cash and short-term investments, a net debt position of CAD 20.86B. That puts debt-to-equity at 0.98, compared with 0.99 a year earlier.

Canadian National Railway Company Balance Sheet Analysis

Values in billions CAD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Canadian National Railway Company (CNI) - 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
Current Assets
Cash and Cash Equivalents	0.35	0.39	0.48	0.33	0.84	0.57	0.06	0.27	0.07
Cash & Short-Term Investments	0.35	0.39	0.48	0.33	0.84	0.57	0.06	0.27	0.07
Accounts Receivable	1.12	1.16	1.30	1.37	1.07	1.14	1.21	1.17	0.98
Inventory	0.73	0.72	0.70	0.69	0.59	0.58	0.61	0.56	0.42
Other Current Assets	0.05	0.35	0.03	0.83	0.93	0.81	0.94	0.74	0.71
Total Current Assets	2.47	2.62	3.09	3.22	3.43	3.10	2.83	2.73	2.19
Non-Current Assets
Property, Plant & Equipment (Net)	49.59	48.45	45.04	44.01	41.62	40.50	40.19	37.77	34.19
Long-Term Investments	0.11	0.43	0.40	0.09	0.12	0.08	0.08	0.07	0.07
Goodwill	0.10	0.07	0.07	0.07	0.07	0.07	0.08	0.00	0.00
Intangible Assets	0.12	1.80	0.13	0.14	0.14	0.15	0.15	0.07	0.06
Other Non-Current Assets	0.05	5.23	0.01	2.41	0.25	0.02	0.02	0.04	0.03
Total Non-Current Assets	56.08	54.45	49.58	47.45	45.11	41.70	40.95	38.49	35.44
Total Assets	58.56	57.07	52.67	50.66	48.54	44.80	43.78	41.21	37.63
Current Liabilities
Accounts Payable	0.89	2.81	0.97	0.95	0.90	0.78	0.87	0.98	0.74
Short-Term Debt	0.91	1.17	2.34	1.18	0.62	1.02	2.05	1.18	2.08
Current Portion of Long-Term Debt	0.91	1.17	2.34	1.06	0.51	-	-	-	-
Accrued Liabilities	0.96	1.08	0.96	1.08	0.95	-	-	-	-
Deferred Revenue	0.01	0.01	0.01	0.01	0.07	0.12	0.05	0.21	0.20
Other Current Liabilities	0.01	0.23	0.06	1.31	1.22	1.14	0.53	0.81	0.67
Total Current Liabilities	3.70	3.98	5.04	3.84	3.12	3.27	4.29	3.50	3.98
Non-Current Liabilities
Long-Term Debt	20.30	19.73	16.13	14.72	12.30	12.31	12.25	11.39	8.75
Deferred Tax Liabilities	11.22	10.87	10.07	9.80	9.30	8.27	7.84	7.48	6.95
Other Non-Current Liabilities	12.68	11.97	11.08	0.91	1.07	1.22	1.21	1.21	1.29
Total Non-Current Liabilities	33.29	32.04	27.51	25.44	22.67	21.88	21.46	20.07	16.99
Total Liabilities	36.99	36.02	32.55	29.28	25.79	25.15	25.74	23.57	20.97
Stockholders' Equity
Common Stock	3.45	3.47	3.51	3.61	3.70	3.70	3.65	3.63	3.78
Retained Earnings	18.92	18.35	18.66	19.53	20.99	19.16	17.63	16.62	15.59
Accumulated Other Comprehensive Income	-1.07	-1.02	-2.28	-1.97	-2.24	-3.47	-3.48	-2.85	-2.78
Treasury Stock	0.15	0.13	0.14	0.17	-	-	-	-	-
Additional Paid-in Capital	0.42	0.37	0.37	0.21	0.29	0.26	0.24	0.23	0.27
Shares Outstanding	0.61	0.63	0.64	0.67	-	-	-	-	-
Total Stockholders' Equity	21.57	21.05	20.12	21.38	22.74	19.65	18.04	17.64	16.66
Total Liabilities & Equity	58.56	57.07	52.67	50.66	48.54	44.80	43.78	41.21	37.63

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 Balance Sheet

How much debt does Canadian National Railway Company have?

Canadian National Railway Company had total debt of CAD 21.21B as of Dec 31, 2025, against CAD 350.00M in cash and short-term investments. Its debt-to-equity ratio was 0.98. Total debt was CAD 20.89B a year earlier.

What are Canadian National Railway Company's total assets?

Canadian National Railway Company reported total assets of CAD 58.55B as of Dec 31, 2025, up 2.6% from CAD 57.07B a year earlier. Total liabilities were CAD 36.99B.

What is Canadian National Railway Company's shareholders' equity?

Canadian National Railway Company's shareholders' equity was CAD 21.57B as of Dec 31, 2025, or about CAD 35.17 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition