Latest revenue
$3.48B
as of 2026-03-31
Latest net income
$807.0M
as of 2026-03-31
Net margin
23.2%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $84.58B
- Enterprise value
- $101.93B
- P/E (trailing)
- 29.3×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 1.2%
- 52-wk high
- $46.73
- 52-wk low
- $30.85
- Beta
- —
- Shares out
- 1.86B
5-year trend
What this company does
CSX operates one of the largest freight railroads in the eastern U.S., running roughly 20,000 route-miles across 26 states, plus Canadian links into Ontario and Quebec. The company earns revenue hauling bulk commodities, intermodal containers, and merchandise freight by rail, supplemented by trucking, terminal, and drayage services through subsidiaries like Quality Carriers and Transflo. Q1 2026 results show a sharp margin recovery, with operating income jumping 20% to $1.25 billion on roughly flat revenue as purchased services costs dropped meaningfully.
Generated from CSX's filing dated 2026-02-12
Key risks
- Heavy leverage: $18.2B long-term debt vs $13.6B equity; Q1 interest expense $213M consumes ~17% of operating income.
- Capital intensity: $543M Q1 capex against $1.27B operating cash flow limits free cash for $260M dividends and buybacks.
- Fuel cost exposure: Q1 fuel expense rose 10% to $302M YoY despite flat volumes, pressuring margins if diesel prices climb.
Generated from CSX's filing dated 2026-02-12
Profitability
Operating margin
32.1%
11.1%Net margin
20.5%
14.1%Return on assets
6.6%
18.5%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $3.48B | +1.7% | $807.0M | +24.9% | 23.2% |
Q4 2025 2025-12-31 | $3.51B | — | $720.0M | — | 20.5% |
Q3 2025 2025-09-30 | $3.59B | -0.9% | $694.0M | -22.4% | 19.3% |
Q2 2025 2025-06-30 | $3.57B | -3.4% | $829.0M | -13.9% | 23.2% |
Q1 2025 2025-03-31 | $3.42B | -7.0% | $646.0M | -26.6% | 18.9% |
Q3 2024 2024-09-30 | $3.62B | +1.3% | $894.0M | +8.0% | 24.7% |
Q2 2024 2024-06-30 | $3.70B | +0.1% | $963.0M | -2.1% | 26.0% |
Q1 2024 2024-03-31 | $3.68B | — | $880.0M | — | 23.9% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Railroads, Line-Haul Operating · SIC 4011
Your notes
Keep private notes on CSX — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$3.0M
Insider selling
$9.5M
Net activity
−$6.4M
Distinct insiders
5
Open-market trades over the last 365 days.
Recent transactions
| Date | Insider | Type | Shares | Price | Value | |
|---|---|---|---|---|---|---|
| 2026-03-06 | Stephen F Angel President & CEO | Purchase | 25,000 | $40.27 | $1.0M | |
| 2026-02-19 | Diana B Sorfleet EVP & CAO | Sale | 90,000 | $41.56 | $3.7M |
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns CSX
Institutional value
$19.36B
Total shares held
486.3M
Distinct holders
777
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 120.8M | $4.96B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 36.6M | $1.50B | — | New |
| 3 | Bank of New York Mellon Corp | 28.6M | $1.17B | — | New |
| 4 | Fisher Asset Management, LLC | 27.2M | $1.12B | — | New |
| 5 | DIMENSIONAL FUND ADVISORS LP | 23.9M | $981.5M | — | New |
| 6 | Invesco Ltd. | 19.4M | $798.2M | — | New |
| 7 | Legal & General Group Plc | 16.5M | $675.4M | — | New |
| 8 | DEUTSCHE BANK AG\ | 14.2M | $583.7M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 10.5M | $429.8M | — | New |
| 10 | UBS Group AG | 10.0M | $409.0M | — | New |
| 11 | Nuveen, LLC | 8.1M | $331.5M | — | New |
| 12 | Mitsubishi UFJ Trust & Banking Corp | 5.7M | $233.3M | — | New |
| 13 | National Pension Service | 5.5M | $226.7M | — | New |
| 14 | Swiss National Bank | 5.5M | $224.3M | — | New |
| 15 | HSBC HOLDINGS PLC | 4.6M | $186.9M | — | New |
| 16 | Sumitomo Mitsui Trust Group, Inc. | 4.5M | $186.3M | — | New |
| 17 | WELLS FARGO & COMPANY/MN | 4.4M | $179.6M | — | New |
| 18 | Mitsubishi UFJ Asset Management Co., Ltd. | 4.4M | $179.0M | — | New |
| 19 | Vanguard Global Advisers, LLC | 4.1M | $167.4M | — | New |
| 20 | California Public Employees Retirement System | 3.4M | $141.1M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Revenue grew only 1.7% YoY yet Purchased Services dropped $158M—how much of the 20% operating income jump is sustainable versus one-time cost relief?
- 2
Share repurchases collapsed from $751M to $222M YoY despite higher cash—are you signaling M&A, an STB-driven Eastern merger response, or balance sheet caution?
- 3
With BNSF-NSC consolidation pressure mounting, what specific volume or pricing concessions are you making to defend Eastern intermodal share?
Refreshed when CSX files a new report · last from 2026-02-12