CNI Industrials

Canadian National Railway Company

$126.30-0.39%

Price as of close on Nov 3, 2026 · Financials updated Nov 2, 2026

Basics

Sector: Industrials
Industry: Railroads
Country: Canada
Market cap: 75.7B USD
Enterprise value: 89.7B USD
Full-time employees: 23,822

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.95 vs a peer median of 0.64), though less than the overall market, less short-term liquidity (current ratio 0.67 vs a peer median of 1.62) and more debt relative to equity (0.99× vs a peer median of 0.40×)higher risk: bigger price swings (beta 0.95 vs peers 0.64), less liquidity (current ratio 0.67 vs peers 1.62) and more debt vs equity (0.99× vs peers 0.40×)
About average: valuation

Ranks #1,308 of 2,308 industrials companies (bottom 44%)

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Wide margins. Operating margin 38% (12 months to Dec 2025) vs a peer median of 7.7%.Operating margin 38% vs peers 7.7%.
Canadian National Railway keeps 38% of revenue as operating profit, more than 95% of peers (median 7.7%).

StockQuotient Score

48/ 100

Oct 5 49 → Nov 4 48 (-1)

Valuation

Is the price right?

47/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.3%

SEC filings · 12 months to Dec 2025 · CAD→USD at the current rateReported value30% base weight · Z-score 0.18Sector median: 0.0377 · MAD: 0.0294

EBITDA yield6.5%

SEC filings · 12 months to Dec 2025 · CAD→USD at the current rateReported value50% base weight · Z-score -0.10Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield3.1%

SEC filings · 12 months to Dec 2025 · CAD→USD at the current rate · operating cash flow − capital spendingReported value20% base weight · Z-score -0.16Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield19.7%

SEC filings · latest balance sheet · CAD→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

39/100

Weak

3/3 inputs reported · High confidence

Since last year: No major change

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth8.6%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score 0.06Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth0.4%

SEC filings · 3 years to Dec 2025Reported value33% base weight · Z-score -0.61Sector median: 0.0421 · MAD: 0.0625

Revenue growth1.5%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score -0.38Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

91/100

Strong

3/3 inputs reported · High confidence

Since last year: No major change

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin38.1%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.02Sector median: 0.0773 · MAD: 0.0507

Return on assets8.1%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score 2.06Sector median: 0.0311 · MAD: 0.0241

Return on invested capital12.2%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score 0.91Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin55.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity21.9%

SEC filings · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 14 → 15

Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.95

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.13Sector median: 0.6440 · MAD: 0.2745

Current ratio0.67×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -1.77Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.99×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.74Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Canadian National Railway

Is Canadian National Railway getting weaker?: Its latest SEC filing (Feb 4, 2026) showed no major changes. Its overall score is unchanged at 48/100 since Oct 28, 2026.
How is Canadian National Railway valued vs its peers?: Priced about in line with its peers. Valuation scores 47/100 against 2,459 industrials peers.
Is Canadian National Railway growing?: More slowly than most of its peers. Growth scores 39/100 against 2,459 industrials peers. 3-year revenue growth 0.4% vs a peer median of 4.2% (weaker than 67% of peers).3-year revenue growth 0.4% vs peers 4.2% (weaker than 67% of peers).
How profitable is Canadian National Railway?: More profitable than most of its peers. Profitability scores 91/100 against 2,459 industrials peers. Operating margin 38.1% vs a peer median of 7.7% (stronger than 95% of peers).Operating margin 38.1% vs peers 7.7% (stronger than 95% of peers).
How risky is Canadian National Railway?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 0.67× vs a peer median of 1.62× (weaker than 100% of peers).Current ratio 0.67× vs peers 1.62× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Feb 4, 2026 · compared with the year ended Dec 31, 2024

No major changes

	Previous year	Latest year	Change
Revenue (12 months)	17.0B CAD	17.3B CAD	+1.5%
Net income (12 months)	4.4B CAD	4.7B CAD	+6.1%
Operating margin	36.6%	38.1%	+1.4 pts
Free cash flow (12 months)	3.1B CAD	3.4B CAD	+7.7%
Debt	21.6B CAD	21.3B CAD	−1.3%
Cash	389.0M CAD	350.0M CAD	−10.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Detailed annual statements come from structured SEC filing data, which most US companies and some foreign filers provide. They aren’t available for this company yet.

CNI price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.95 vs a peer median of 0.64), though less than the overall market, less short-term liquidity (current ratio 0.67 vs a peer median of 1.62) and more debt relative to equity (0.99× vs a peer median of 0.40×)higher risk: bigger price swings (beta 0.95 vs peers 0.64), less liquidity (current ratio 0.67 vs peers 1.62) and more debt vs equity (0.99× vs peers 0.40×)

About average: valuation

Ranks #1,308 of 2,308 industrials companies (bottom 44%)

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Wide margins. Operating margin 38% (12 months to Dec 2025) vs a peer median of 7.7%.Operating margin 38% vs peers 7.7%.

Canadian National Railway keeps 38% of revenue as operating profit, more than 95% of peers (median 7.7%).

Questions investors ask about Canadian National Railway

Is Canadian National Railway getting weaker?

Its latest SEC filing (Feb 4, 2026) showed no major changes. Its overall score is unchanged at 48/100 since Oct 28, 2026.

How is Canadian National Railway valued vs its peers?

Priced about in line with its peers. Valuation scores 47/100 against 2,459 industrials peers.

Is Canadian National Railway growing?

More slowly than most of its peers. Growth scores 39/100 against 2,459 industrials peers. 3-year revenue growth 0.4% vs a peer median of 4.2% (weaker than 67% of peers).3-year revenue growth 0.4% vs peers 4.2% (weaker than 67% of peers).

How profitable is Canadian National Railway?

More profitable than most of its peers. Profitability scores 91/100 against 2,459 industrials peers. Operating margin 38.1% vs a peer median of 7.7% (stronger than 95% of peers).Operating margin 38.1% vs peers 7.7% (stronger than 95% of peers).

How risky is Canadian National Railway?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 0.67× vs a peer median of 1.62× (weaker than 100% of peers).Current ratio 0.67× vs peers 1.62× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

17.0B CAD

17.3B CAD

+1.5%

Net income (12 months)

4.4B CAD

4.7B CAD

+6.1%

Operating margin

36.6%

38.1%

+1.4 pts

Free cash flow (12 months)

3.1B CAD

3.4B CAD

+7.7%

Debt

21.6B CAD

21.3B CAD

−1.3%

Cash

389.0M CAD

350.0M CAD

−10.0%