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NSC vs. UAL: Norfolk Southern vs. United Airlines Stock Comparison

How do Norfolk Southern (NSC) and United Airlines (UAL) 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

Norfolk Southern (NSC) and United Airlines (UAL) both fall under the Transportation industry group, but NSC is classified in Ground Transportation while UAL is classified in Passenger Airlines.

Company profile comparison for Norfolk Southern (NSC) and United Airlines (UAL)
Profile ItemNSCUAL
NameNorfolk Southern Corp.United Airlines Holdings, Inc.
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupTransportationTransportation
GICS IndustryGround TransportationPassenger Airlines
GICS Sub-IndustryRail TransportationPassenger Airlines
Market Capitalization71.86 billion USD36.63 billion USD
CurrencyUSDUSD
ExchangeNYSENasdaq
Listing DateJune 2, 1982February 6, 2006
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

NSC
UAL
GSPC
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Norfolk Southern (NSC) vs. United Airlines (UAL), 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 Norfolk Southern (NSC) and United Airlines (UAL). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Norfolk Southern (NSC) and United Airlines (UAL). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
Total Return (1Y)16.63%22.35%
Total Return (3Y, Annualized)21.35%47.27%
Total Return (5Y, Annualized)4.94%17.68%

Risk Profile

Drawdown History

NSC
UAL
GSPC
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Norfolk Southern (NSC) vs. United Airlines (UAL), 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 Norfolk Southern (NSC) and United Airlines (UAL). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
Volatility (1Y, Annualized)21.75%48.88%
Beta (5Y)1.191.32
Max Drawdown (5Y)-35.64%-49.19%
Avg. Volume (3M)1.02M4.24M

Risk-Adjusted Performance

Risk-Return Positioning

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NSC and UAL 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 Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
Sharpe Ratio (1Y)0.570.37
Sortino Ratio (1Y)0.860.59

Profitability

ROE (TTM)

United Airlines (UAL) at 22.31% sits in the top ROE quartile, while Norfolk Southern (NSC) at 16.84% is closer to the peer norm — stronger capital efficiency for UAL.

NSC

Transportation industry group

16.84%

Max
45.08%
Q3
22.02%
NSC
16.84%
Median
13.94%
Q1
2.89%
Min
-10.45%

UAL

Transportation industry group

22.31%

Max
45.08%
UAL
22.31%
Q3
22.02%
Median
13.94%
Q1
2.89%
Min
-10.45%
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their ROE against the Transportation industry group benchmark.

Net Margin (TTM)

Both Norfolk Southern (NSC) at 20.71% and United Airlines (UAL) at 5.46% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

NSC

Transportation industry group

20.71%

Max
50.36%
Q3
21.18%
NSC
20.71%
Median
5.58%
Q1
1.55%
Min
-11.37%

UAL

Transportation industry group

5.46%

Max
50.36%
Q3
21.18%
Median
5.58%
UAL
5.46%
Q1
1.55%
Min
-11.37%
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their net margin against the Transportation industry group benchmark.

Operating Margin (TTM)

Norfolk Southern (NSC) at 35.42% operates in the top operating margin quartile, ahead of United Airlines (UAL) at 7.03%, which runs around its industry’s norm.

NSC

Transportation industry group

35.42%

Max
59.18%
NSC
35.42%
Q3
29.30%
Median
11.50%
Q1
4.62%
Min
-8.91%

UAL

Transportation industry group

7.03%

Max
59.18%
Q3
29.30%
Median
11.50%
UAL
7.03%
Q1
4.62%
Min
-8.91%
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their operating margin against the Transportation industry group benchmark.

Profitability Metrics

Profitability metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
ROE (TTM)16.84%22.31%
ROA (TTM)6.03%3.31%
Net Margin (TTM)20.71%5.46%
Operating Margin (TTM)35.42%7.03%
Gross Margin (TTM)44.68%30.87%

Growth

Revenue Growth

Both Norfolk Southern (NSC) at 0.47% and United Airlines (UAL) at 3.52% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Norfolk Southern (NSC) at 10.20% and United Airlines (UAL) at 7.94% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
Revenue Growth (YoY)0.47%3.52%
Revenue Growth (3Y CAGR)-1.50%9.53%
EPS Growth (YoY)10.20%7.94%
EPS Growth (3Y CAGR)-2.79%66.00%

Financial Strength

Current Ratio (MRQ)

Norfolk Southern (NSC) at 0.90 keeps current ratio within its industry’s typical mid-range, while United Airlines (UAL) at 0.75 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for UAL.

NSC

Transportation industry group

0.90

Max
2.58
Q3
1.62
Median
1.16
NSC
0.90
Q1
0.78
Min
0.22

UAL

Transportation industry group

0.75

Max
2.58
Q3
1.62
Median
1.16
Q1
0.78
UAL
0.75
Min
0.22
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their current ratio against the Transportation industry group benchmark.

Debt / Equity (MRQ)

Norfolk Southern (NSC) at 1.02 carries an industry-typical debt-to-equity mix, while United Airlines (UAL) at 1.93 uses more debt funding than most peers.

NSC

Transportation industry group

1.02

Max
2.75
Q3
1.37
NSC
1.02
Median
0.78
Q1
0.35
Min
0.00

UAL

Transportation industry group

1.93

Max
2.75
UAL
1.93
Q3
1.37
Median
0.78
Q1
0.35
Min
0.00
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their debt-to-equity ratio against the Transportation industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
Current Ratio (MRQ)0.900.75
Debt / Equity (MRQ)1.021.93
Net Debt / EBITDA2.682.79

Dividends

Dividend Yield (TTM)

United Airlines (UAL) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Norfolk Southern (NSC) reports a yield of 1.65%, ranking against industry peers normally.

NSC

Transportation industry group

1.65%

Max
4.68%
Q3
1.99%
NSC
1.65%
Median
0.74%
Q1
0.00%
Min
0.00%

UAL

Transportation industry group

0.00%

Max
4.68%
Q3
1.99%
Median
0.74%
UAL
0.00%
Q1
0.00%
Min
0.00%
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their dividend yield against the Transportation industry group benchmark.

Dividend Payout Ratio (TTM)

United Airlines (UAL) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Norfolk Southern (NSC) reports a payout of 45.26%, ranking against industry peers normally.

NSC

Transportation industry group

45.26%

Max
100.89%
NSC
45.26%
Q3
41.68%
Median
20.43%
Q1
0.00%
Min
0.00%

UAL

Transportation industry group

0.00%

Max
100.89%
Q3
41.68%
Median
20.43%
UAL
0.00%
Q1
0.00%
Min
0.00%
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their payout ratio against the Transportation industry group benchmark.

Dividend Metrics

Dividend metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
Dividend Yield (TTM)1.65%0.00%
Dividend Payout Ratio (TTM)45.26%0.00%

Valuation

P/E Ratio (TTM)

United Airlines (UAL) at 10.32 sits in the cheaper P/E ratio quartile, while Norfolk Southern (NSC) at 26.82 is closer to its industry’s usual earnings multiple — a discount for UAL, though growth and earnings durability still matter.

NSC

Transportation industry group

26.82

Max
46.76
Q3
30.87
NSC
26.82
Median
20.58
Q1
10.44
Min
0.00

UAL

Transportation industry group

10.32

Max
46.76
Q3
30.87
Median
20.58
Q1
10.44
UAL
10.32
Min
0.00
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their P/E ratio against the Transportation industry group benchmark.

P/S Ratio (TTM)

United Airlines (UAL) at 0.56 prices around its industry’s typical P/S ratio, while Norfolk Southern (NSC) at 5.54 clears its benchmark range — NSC looks notably rich on sales.

NSC

Transportation industry group

5.54

NSC
5.54
Max
4.35
Q3
2.07
Median
0.93
Q1
0.53
Min
0.04

UAL

Transportation industry group

0.56

Max
4.35
Q3
2.07
Median
0.93
UAL
0.56
Q1
0.53
Min
0.04
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their P/S ratio against the Transportation industry group benchmark.

P/B Ratio (MRQ)

United Airlines (UAL) at 2.06 is valued about in line with its industry on P/B ratio, while Norfolk Southern (NSC) at 4.30 carries an above-peer premium to book — NSC is pricier on assets.

NSC

Transportation industry group

4.30

Max
6.29
NSC
4.30
Q3
3.39
Median
1.90
Q1
1.03
Min
-2.07

UAL

Transportation industry group

2.06

Max
6.29
Q3
3.39
UAL
2.06
Median
1.90
Q1
1.03
Min
-2.07
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Norfolk Southern (NSC) vs. United Airlines (UAL): A comparison of their P/B ratio against the Transportation industry group benchmark.

Valuation Metrics

Valuation metrics for Norfolk Southern (NSC) and United Airlines (UAL)
MetricNSCUAL
P/E Ratio (TTM)26.8210.32
P/S Ratio (TTM)5.540.56
P/B Ratio (MRQ)4.302.06
Free Cash Flow Yield (TTM)2.25%-1.57%