CNI vs. CP: Canadian National Railway vs. Canadian Pacific Kansas City Stock Comparison

June 13, 2026

This page compares Canadian National Railway (CNI) with Canadian Pacific Kansas City (CP) using performance and risk, profitability, financial strength, growth, dividends, and valuation metrics.

Performance

Cumulative Growth

CNI

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP). Returns over one year are annualized.

Performance at a Glance

Performance metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
1-Year Return	15.14%	11.72%

Risk

Drawdown

CNI

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Risk metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
1-Year Volatility	21.94%	22.53%
Beta	0.96	1.09
3-Month Avg. Volume	1.51M	2.84M

Company Profile

Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP) are both classified in the Rail Transportation sub-industry within the broader Ground Transportation industry, placing them in the closest GICS peer bucket.

Company profile comparison for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Profile Item	CNI	CP
Name	Canadian National Railway Company	Canadian Pacific Kansas City Limited
Country/Region	Canada	Canada
GICS Sector	Industrials	Industrials
GICS Industry Group	Transportation	Transportation
GICS Industry	Ground Transportation	Ground Transportation
GICS Sub-Industry	Rail Transportation	Rail Transportation
Market Capitalization	72.17 billion USD	79.97 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 26, 1996	December 30, 1983
Security Type	Common Stock	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Both Canadian National Railway (CNI) at 21.87 and Canadian Pacific Kansas City (CP) at 27.98 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CNI

Transportation industry group

21.87

Max: 96.57
Q3: 48.32
Median: 23.00
CNI: 21.87
Q1: 13.51
Min: 0.00

CP

Transportation industry group

27.98

Max: 96.57
Q3: 48.32
CP: 27.98
Median: 23.00
Q1: 13.51
Min: 0.00

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their P/E ratio against the Transportation industry group benchmark.

Price-to-Sales Ratio (TTM)

Both look expensive on sales: Canadian National Railway (CNI) at 4.18 sits in the upper P/S ratio quartile, and Canadian Pacific Kansas City (CP) at 5.34 prices even higher, above its industry range.

CNI

Transportation industry group

4.18

CNI: 4.18
Max: 4.18
Q3: 2.26
Median: 1.11
Q1: 0.60
Min: 0.07

CP

Transportation industry group

5.34

CP: 5.34
Max: 4.18
Q3: 2.26
Median: 1.11
Q1: 0.60
Min: 0.07

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their P/S ratio against the Transportation industry group benchmark.

Price-to-Book Ratio (MRQ)

Canadian Pacific Kansas City (CP) at 2.41 is valued about in line with its industry on P/B ratio, while Canadian National Railway (CNI) at 4.68 carries an above-peer premium to book — CNI is pricier on assets.

CNI

Transportation industry group

4.68

Max: 8.88
CNI: 4.68
Q3: 4.49
Median: 2.15
Q1: 1.24
Min: -2.43

CP

Transportation industry group

2.41

Max: 8.88
Q3: 4.49
CP: 2.41
Median: 2.15
Q1: 1.24
Min: -2.43

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their P/B ratio against the Transportation industry group benchmark.

Valuation at a Glance

Valuation metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
Price-to-Earnings Ratio (TTM)	21.87	27.98
Price-to-Sales Ratio (TTM)	4.18	5.34
Price-to-Book Ratio (MRQ)	4.68	2.41
Free Cash Flow Yield	3.60%	2.38%

Profitability

Return on Equity (TTM)

Canadian National Railway (CNI) at 21.85% sits in the top ROE quartile, while Canadian Pacific Kansas City (CP) at 8.43% is closer to the peer norm — stronger capital efficiency for CNI.

CNI

Transportation industry group

21.85%

Max: 43.37%
CNI: 21.85%
Q3: 20.41%
Median: 10.34%
Q1: 1.88%
Min: -18.53%

CP

Transportation industry group

8.43%

Max: 43.37%
Q3: 20.41%
Median: 10.34%
CP: 8.43%
Q1: 1.88%
Min: -18.53%

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their ROE against the Transportation industry group benchmark.

Net Profit Margin (TTM)

For every dollar of sales, both Canadian National Railway (CNI) at 27.23% and Canadian Pacific Kansas City (CP) at 27.21% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

CNI

Transportation industry group

27.23%

Max: 43.82%
CNI: 27.23%
Q3: 19.14%
Median: 5.11%
Q1: 0.86%
Min: -9.62%

CP

Transportation industry group

27.21%

Max: 43.82%
CP: 27.21%
Q3: 19.14%
Median: 5.11%
Q1: 0.86%
Min: -9.62%

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their net margin against the Transportation industry group benchmark.

Operating Profit Margin (TTM)

Both Canadian National Railway (CNI) at 38.41% and Canadian Pacific Kansas City (CP) at 37.56% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

CNI

Transportation industry group

38.41%

Max: 54.53%
CNI: 38.41%
Q3: 24.85%
Median: 6.34%
Q1: 1.12%
Min: -33.27%

CP

Transportation industry group

37.56%

Max: 54.53%
CP: 37.56%
Q3: 24.85%
Median: 6.34%
Q1: 1.12%
Min: -33.27%

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their operating margin against the Transportation industry group benchmark.

Profitability at a Glance

Profitability metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
Return on Equity (TTM)	21.85%	8.43%
Return on Assets (TTM)	7.56%	4.30%
Net Profit Margin (TTM)	27.23%	27.21%
Operating Profit Margin (TTM)	38.41%	37.56%
Gross Profit Margin (TTM)	56.66%	53.85%

Growth

Revenue Growth

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their Revenue Growth across different time periods.

Revenue Growth at a Glance

Revenue growth metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
1-Year Revenue Growth	1.51%	3.66%
3-Year Revenue CAGR	0.38%	19.60%

EPS Growth

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their EPS Growth across different time periods.

EPS Growth at a Glance

EPS growth metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
1-Year EPS Growth	7.99%	13.32%
3-Year EPS CAGR	0.58%	6.16%

Financial Strength

Current Ratio (MRQ)

Both Canadian National Railway (CNI) at 0.67 and Canadian Pacific Kansas City (CP) at 0.67 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

CNI

Transportation industry group

0.67

Max: 2.26
Q3: 1.61
Median: 1.16
Q1: 0.84
CNI: 0.67
Min: 0.42

CP

Transportation industry group

0.67

Max: 2.26
Q3: 1.61
Median: 1.16
Q1: 0.84
CP: 0.67
Min: 0.42

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their current ratio against the Transportation industry group benchmark.

Debt-to-Equity Ratio (MRQ)

Both Canadian National Railway (CNI) at 1.06 and Canadian Pacific Kansas City (CP) at 0.51 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNI

Transportation industry group

1.06

Max: 3.37
Q3: 1.64
CNI: 1.06
Median: 0.80
Q1: 0.36
Min: 0.00

CP

Transportation industry group

0.51

Max: 3.37
Q3: 1.64
Median: 0.80
CP: 0.51
Q1: 0.36
Min: 0.00

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their debt-to-equity ratio against the Transportation industry group benchmark.

Financial Strength at a Glance

Financial strength metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
Current Ratio (MRQ)	0.67	0.67
Debt-to-Equity Ratio (MRQ)	1.06	0.51
Net Debt / EBITDA	2.45	2.96

Dividends

Dividend Yield (TTM)

Both Canadian National Railway (CNI) at 2.21% and Canadian Pacific Kansas City (CP) at 0.77% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CNI

Transportation industry group

2.21%

Max: 6.07%
Q3: 2.46%
CNI: 2.21%
Median: 0.94%
Q1: 0.00%
Min: 0.00%

CP

Transportation industry group

0.77%

Max: 6.07%
Q3: 2.46%
Median: 0.94%
CP: 0.77%
Q1: 0.00%
Min: 0.00%

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their dividend yield against the Transportation industry group benchmark.

Dividend Payout Ratio (TTM)

Canadian Pacific Kansas City (CP) at 20.36% pays out a band-typical share of earnings, while Canadian National Railway (CNI) at 47.13% distributes more than its industry norm — less retained, thinner cover.

CNI

Transportation industry group

47.13%

Max: 106.15%
CNI: 47.13%
Q3: 45.72%
Median: 20.46%
Q1: 0.00%
Min: 0.00%

CP

Transportation industry group

20.36%

Max: 106.15%
Q3: 45.72%
Median: 20.46%
CP: 20.36%
Q1: 0.00%
Min: 0.00%

Canadian National Railway (CNI) vs. Canadian Pacific Kansas City (CP): A comparison of their payout ratio against the Transportation industry group benchmark.

Dividends at a Glance

Dividend metrics for Canadian National Railway (CNI) and Canadian Pacific Kansas City (CP)
Metric	CNI	CP
Dividend Yield (TTM)	2.21%	0.77%
Dividend Payout Ratio (TTM)	47.13%	20.36%