| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 31 | 28.3x | 17.8x | Bottom tier | |
Growth | 27 | 2.5% | 7.1% | Bottom tier | |
Quality | 80 | 12.1% | 4.5% | Top tier | |
Safety | 64 | 2.7x | 2.6x | Around median | |
Capital Return | 28 | 1.10% | 2.12% | Bottom tier | |
Momentum | 92 | 54.5% | 2.9% | Top tier | |
Sentiment | 62 | 15 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
CSX Corporation operates a rail transportation network and generates revenue by hauling freight across three primary markets: merchandise, intermodal, and coal. Its growth depends on higher freight volumes, pricing, fuel surcharges, and shipment mix, while management aims to add business that increases operating income, expands margins, and delivers good returns on invested capital, rather than pursuing market share alone.
In fiscal 2026 quarter 2, volumes rose 6% and revenue increased 10% to a quarterly record of $3.9 billion, according to the financial statements and earnings call. Net income was $1.0 billion and earnings per share were $0.54, while operating income grew 17% and earnings per share increased 23% year over year. Operating margin expanded by 240 basis points despite a 160-basis-point negative impact from fuel prices, as total expenses rose 6% but non-fuel expenses declined 2%.
Growth was broad-based across the businesses, with merchandise revenue up 8% on a 4% volume increase, intermodal revenue up 26% on a 9% volume increase, and coal revenue up 9% on a 4% volume increase. Intermodal was the largest contributor to unit growth, and its revenue per unit rose 16%, driven primarily by fuel surcharges, while merchandise revenue per unit increased 4%, including fuel. For the twelve months ended in 2026, revenue was $14.5 billion, net income was $3.2 billion, and earnings per share were approximately $1.73, compared with revenue of $14.1 billion and net income of $2.9 billion in fiscal 2025.
The average analyst target is $51.06, compared with a high target of $60 and a low target of $32, with an overall consensus Buy rating. The average is below the 52-week range high of $53.6, while the targets' span from near the range low of $31.8 to above its high reveals wide disagreement about the extent of sustainable operating improvement. No P/E ratio is available in the data, so the valuation assessment is based on the target range and its breadth and on CSX's ability to achieve its fiscal 2026 margin and free cash flow guidance.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue was $3.9 billion, up 10% and at a quarterly record, while volumes rose 6%. The company reported net income of $1.0 billion and earnings per share of $0.54. Operating income grew 17% and earnings per share increased 23%, while operating margin expanded by 240 basis points despite a 160-basis-point negative impact from fuel.
On the July 22, 2026 call, management raised its revenue growth outlook to a mid-to-high single-digit percentage. It expects operating margin expansion of more than 350 basis points and free cash flow growth of more than 80%. The company maintained its capital expenditure plan below $2.4 billion, supported by volume growth, improved financial performance and productivity, and cost control.
Intermodal revenue rose 26% and volumes increased 9% in fiscal 2026 quarter 2, making it the largest contributor to unit growth. Howard Street Tunnel supports service speed and capacity expansion, while the SMX service with CPKC expands connectivity through additional routes. Management stated on July 22, 2026 that these two drivers added approximately two points to domestic intermodal growth during the weeks preceding the call, with available capacity remaining on many trains.
Automated analysis for informational purposes only — not investment advice.
Stronger-than-expected demand and seasonally lower crew availability increased dwell time and weakened some service metrics, despite a 3% improvement in average velocity. The network handled 6% volume growth while headcount was 6% lower than the prior year, pressuring fluidity at some locations. The company plans a limited increase in operations and transportation headcount and targets sequential improvement in service indicators without giving back productivity gains.
Management expects plastic volumes to moderate after some activity was pulled forward into the first half of fiscal 2026. The automotive segment may also slow due to normal or elevated inventories and summer shutdowns, with North American light vehicle production expected to decline by slightly less than 2% for the year. In contrast, the company expects continued support from domestic intermodal, metals, infrastructure, coal, and corn exports through Chesapeake.
Non-fuel expenses declined 2% in fiscal 2026 quarter 2, despite a 6% increase in total expenses due to a $177 million increase in fuel costs. The company reduced headcount by 6%, spending on third-party services in operations by $23 million, and lift costs at intermodal terminals by 12%. At the annual guidance level, CSX targets free cash flow growth of more than 80% during fiscal 2026, with capital expenditures below $2.4 billion.
