Norfolk Southern Corp (NSC)

Railroads, Line-Haul Operating

Latest Price

$342.19

TTM P/E

28.68

Normalized P/E

29.30

TTM Div Yield

1.58%

Fwd Div Yield

1.58%

Book Value

74.48

P/B Ratio

4.59

Valuation metrics

EPS: $12.75

Book value / share: $69.28

Formula: √(22.5 × EPS × BVPS)

Graham Number

$140.97

59% downside

Norm. op. income: $4.1B (median of 7yr)

Tax rate: 21%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$73.53

79% downside

Base FCF: $2.2B (median of recent 5yr)

Growth: 20%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$417.75

+22% upside

EPS: $12.75

Target P/E: 29×

Formula: EPS × P/E

P/E Fair Value

$369.75

+8% upside

74.7% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	16.00M	$5.03B	7.12%	+724.2K	2026-06-30
Vanguard Capital Management LLC	14.67M	$4.61B	6.53%	+79.5K	2026-06-30
State Street Corp	10.24M	$3.22B	4.56%	+408.8K	2026-06-30
Vanguard Portfolio Management LLC	7.22M	$2.27B	3.21%	+3.19M	2026-06-30
Millennium Management LLC	5.20M	$1.64B	2.32%	+612.6K	2026-06-30
Geode Capital Management, LLC	5.11M	$1.60B	2.28%	+38.1K	2026-06-30
Bank of America Corp	3.11M	$978.0M	1.39%	-89.2K	2026-06-30
Norges Bank	3.04M	$956.0M	1.35%	-716.3K	2026-06-30
Northern Trust Corp	2.61M	$822.0M	1.16%	-23.3K	2026-06-30
Morgan Stanley	2.61M	$821.0M	1.16%	-15.4K	2026-06-30