CNI vs. CSX: Canadian National Railway vs. CSX Stock Comparison

July 23, 2026

How do Canadian National Railway (CNI) and CSX (CSX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Canadian National Railway (CNI) and CSX (CSX) 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 CSX (CSX)
Profile Item	CNI	CSX
Name	Canadian National Railway Company	CSX Corporation
Country/Region	Canada	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Transportation	Transportation
GICS Industry	Ground Transportation	Ground Transportation
GICS Sub-Industry	Rail Transportation	Rail Transportation
Market Capitalization	77.10 billion USD	92.70 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	November 26, 1996	November 3, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CNI

CSX

GSPC

Canadian National Railway (CNI) vs. CSX (CSX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Canadian National Railway (CNI) and CSX (CSX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Canadian National Railway (CNI) and CSX (CSX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
Total Return (1Y)	30.04%	47.25%
Total Return (3Y, Annualized)	4.47%	17.07%
Total Return (5Y, Annualized)	6.11%	11.08%

Risk Profile

Drawdown History

CNI

CSX

GSPC

Canadian National Railway (CNI) vs. CSX (CSX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Canadian National Railway (CNI) and CSX (CSX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
Volatility (1Y, Annualized)	21.98%	22.35%
Beta (5Y)	0.96	1.21
Max Drawdown (5Y)	-29.13%	-29.44%
Avg. Volume (3M)	1.51M	12.62M

Risk-Adjusted Performance

Risk-Return Positioning

CNI and CSX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
Sharpe Ratio (1Y)	1.18	1.93
Sortino Ratio (1Y)	1.69	3.04

Profitability

ROE (TTM)

Both Canadian National Railway (CNI) at 21.85% and CSX (CSX) at 23.68% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

CNI

Transportation industry group

21.85%

Max: 43.37%
CNI: 21.85%
Q3: 19.94%
Median: 10.23%
Q1: 1.86%
Min: -18.53%

CSX

Transportation industry group

23.68%

Max: 43.37%
CSX: 23.68%
Q3: 19.94%
Median: 10.23%
Q1: 1.86%
Min: -18.53%

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

Net Margin (TTM)

For every dollar of sales, both Canadian National Railway (CNI) at 27.23% and CSX (CSX) at 21.55% 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: 18.75%
Median: 5.20%
Q1: 0.62%
Min: -9.62%

CSX

Transportation industry group

21.55%

Max: 43.82%
CSX: 21.55%
Q3: 18.75%
Median: 5.20%
Q1: 0.62%
Min: -9.62%

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

Operating Margin (TTM)

Both Canadian National Railway (CNI) at 38.41% and CSX (CSX) at 36.16% 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: 24.38%
Median: 7.26%
Q1: 1.31%
Min: -33.27%

CSX

Transportation industry group

36.16%

Max: 54.53%
CSX: 36.16%
Q3: 24.38%
Median: 7.26%
Q1: 1.31%
Min: -33.27%

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

Profitability Metrics

Profitability metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
ROE (TTM)	21.85%	23.68%
ROA (TTM)	7.56%	7.08%
Net Margin (TTM)	27.23%	21.55%
Operating Margin (TTM)	38.41%	36.16%
Gross Margin (TTM)	56.66%	46.82%

Growth

Revenue Growth

Canadian National Railway (CNI) at 1.51% is around its peer norm for revenue growth, while CSX (CSX) at -3.08% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Canadian National Railway (CNI) vs. CSX (CSX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Canadian National Railway (CNI) at 7.99% and CSX (CSX) at -13.97% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Canadian National Railway (CNI) vs. CSX (CSX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
Revenue Growth (YoY)	1.51%	-3.08%
Revenue Growth (3Y CAGR)	0.38%	-1.74%
EPS Growth (YoY)	7.99%	-13.97%
EPS Growth (3Y CAGR)	0.58%	-7.57%

Financial Strength

Current Ratio (MRQ)

CSX (CSX) at 0.97 keeps current ratio within its industry’s typical mid-range, while Canadian National Railway (CNI) at 0.67 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CNI.

CNI

Transportation industry group

0.67

Max: 2.26
Q3: 1.59
Median: 1.12
Q1: 0.78
CNI: 0.67
Min: 0.30

CSX

Transportation industry group

0.97

Max: 2.26
Q3: 1.59
Median: 1.12
CSX: 0.97
Q1: 0.78
Min: 0.30

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

Debt / Equity (MRQ)

Both Canadian National Railway (CNI) at 1.06 and CSX (CSX) at 1.43 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNI

Transportation industry group

1.06

Max: 3.37
Q3: 1.62
CNI: 1.06
Median: 0.84
Q1: 0.36
Min: 0.00

CSX

Transportation industry group

1.43

Max: 3.37
Q3: 1.62
CSX: 1.43
Median: 0.84
Q1: 0.36
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
Current Ratio (MRQ)	0.67	0.97
Debt / Equity (MRQ)	1.06	1.43
Net Debt / EBITDA	2.45	2.77

Dividends

Dividend Yield (TTM)

Canadian National Railway (CNI) at 2.82% delivers top-quartile income for its industry, while CSX (CSX) at 1.06% pays a more typical yield — both are credible income propositions, CNI the richer one.

CNI

Transportation industry group

2.82%

Max: 4.23%
CNI: 2.82%
Q3: 1.79%
Median: 0.55%
Q1: 0.00%
Min: 0.00%

CSX

Transportation industry group

1.06%

Max: 4.23%
Q3: 1.79%
CSX: 1.06%
Median: 0.55%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

CSX (CSX) at 32.52% 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: 44.94%
Median: 20.02%
Q1: 0.00%
Min: 0.00%

CSX

Transportation industry group

32.52%

Max: 106.15%
Q3: 44.94%
CSX: 32.52%
Median: 20.02%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
Dividend Yield (TTM)	2.82%	1.06%
Dividend Payout Ratio (TTM)	47.13%	32.52%

Valuation

P/E Ratio (TTM)

Both Canadian National Railway (CNI) at 23.71 and CSX (CSX) at 30.80 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

23.71

Max: 94.71
Q3: 46.51
CNI: 23.71
Median: 23.58
Q1: 14.12
Min: 1.16

CSX

Transportation industry group

30.80

Max: 94.71
Q3: 46.51
CSX: 30.80
Median: 23.58
Q1: 14.12
Min: 1.16

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

P/S Ratio (TTM)

Both look expensive on sales: Canadian National Railway (CNI) at 4.46 sits in the upper P/S ratio quartile, and CSX (CSX) at 6.55 prices even higher, above its industry range.

CNI

Transportation industry group

4.46

CNI: 4.46
Max: 4.46
Q3: 2.30
Median: 1.35
Q1: 0.62
Min: 0.07

CSX

Transportation industry group

6.55

CSX: 6.55
Max: 4.46
Q3: 2.30
Median: 1.35
Q1: 0.62
Min: 0.07

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

P/B Ratio (MRQ)

Both Canadian National Railway (CNI) at 5.06 and CSX (CSX) at 6.83 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CNI

Transportation industry group

5.06

Max: 9.10
CNI: 5.06
Q3: 4.59
Median: 2.21
Q1: 1.23
Min: -2.48

CSX

Transportation industry group

6.83

Max: 9.10
CSX: 6.83
Q3: 4.59
Median: 2.21
Q1: 1.23
Min: -2.48

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

Valuation Metrics

Valuation metrics for Canadian National Railway (CNI) and CSX (CSX)
Metric	CNI	CSX
P/E Ratio (TTM)	23.71	30.80
P/S Ratio (TTM)	4.46	6.55
P/B Ratio (MRQ)	5.06	6.83
Free Cash Flow Yield (TTM)	3.37%	1.22%