Canadian National Railway Company (CNI) Financial Ratios: P/E, ROE & More

Canadian National Railway Company (CNI) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Canadian National Railway Company had a P/E ratio of 17.70 (down from 20.66), return on equity of 22.1% (up from 21.6%), debt-to-equity of 1.00 (down from 1.01) and a current ratio of 0.67 (up from 0.66). A current ratio of 0.67 means current liabilities exceed current assets. Its dividend yield was 2.61% with a payout ratio of 46.8%.

Canadian National Railway Company Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	17.70	20.66	19.12	21.24	22.40	28.04
P/S Ratio	4.83	5.39	6.39	6.36	7.58	7.19
P/B Ratio	3.87	4.37	5.35	5.08	4.83	5.06
Price/Tangible Book	4.25	4.79	5.86	5.53	5.21	5.51
Price/FCF	24.64	29.17	28.46	27.76	26.90	30.10
Price/OCF	11.85	13.72	15.44	16.31	15.74	16.12
Enterprise Value Ratios
EV/Revenue	6.07	6.61	7.48	7.25	8.39	8.20
EV/EBITDA	11.58	12.99	14.15	13.68	15.98	14.81
EV/EBIT	14.73	16.62	17.79	16.91	20.23	18.69
EV/FCF	30.95	35.77	33.31	31.68	29.79	34.32
Profitability & Returns
Return on Equity (ROE)	22.15%	21.61%	27.11%	23.20%	23.11%	18.81%
Return on Assets (ROA)	7.70%	7.72%	8.56%	9.25%	8.05%	8.56%
Return on Invested Capital (ROIC)	12.65%	12.79%	16.26%	15.47%	13.81%	11.60%
Return on Capital Employed (ROCE)	13.00%	12.80%	14.90%	15.70%	13.20%	14.60%
Leverage & Solvency Ratios
Debt/Equity	1.00	1.01	0.94	0.74	0.57	0.68
Debt/EBITDA	2.32	2.40	2.07	1.71	1.65	1.69
Debt/FCF	6.38	6.78	5.00	4.06	3.17	4.04
Liquidity Ratios
Current Ratio	0.67	0.66	0.61	0.84	1.10	0.95
Quick Ratio	0.40	0.43	0.35	0.45	0.61	0.52
Efficiency Ratios
Asset Turnover	0.30	0.31	0.33	0.34	0.31	0.31
Inventory Turnover	10.31	10.90	10.61	11.69	10.86	10.33
Yield & Distribution Ratios
Earnings Yield	5.65%	4.84%	5.23%	4.71%	4.46%	3.57%
FCF Yield	4.06%	3.43%	3.51%	3.60%	3.72%	3.32%
Dividend Yield	2.61%	2.31%	1.89%	1.81%	1.57%	1.82%
Payout Ratio	46.78%	48.07%	36.82%	39.16%	35.52%	46.09%
Buyback Yield	1.70%	3.73%	4.24%	3.10%	0.38%	1.33%
Total Return	4.31%	6.04%	6.13%	4.91%	1.95%	3.15%

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 Ratios

What is Canadian National Railway Company's P/E ratio?

Canadian National Railway Company's P/E ratio was 17.70 for fiscal 2025 (period ended Dec 31, 2025). It was 20.66 a year earlier.

What is Canadian National Railway Company's return on equity?

Canadian National Railway Company's return on equity (ROE) was 22.1% for fiscal 2025 (period ended Dec 31, 2025). It was 21.6% a year earlier.

What is Canadian National Railway Company's debt-to-equity ratio?

Canadian National Railway Company's debt-to-equity ratio was 1.00 for fiscal 2025 (period ended Dec 31, 2025). It was 1.01 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition