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Companies / Industrials / Rail Transportation

Norfolk Southern stock buybacks

NSC
$5Mbought back in the 12 months to Sep 30, 2026

Norfolk Southern bought back $5M of its stock in the last twelve months, but paid out $78M more than that in stock compensation. Its share count is up 0.2% from a year earlier.

Stock repurchases by quarter
$0$500M$1BQ4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q3 '26
Show as table
PeriodValue
Q4 '20$479M
Q1 '21$591M
Q2 '21$934M
Q3 '21$935M
Q4 '21$930M
Q1 '22$600M
Q2 '22$854M
Q3 '22$830M
Q4 '22$826M
Q1 '23$163M
Q2 '23$140M
Q3 '23$200M
Q4 '23$119M
Q1 '24$0
Q2 '24$0
Q3 '24$0
Q4 '24$0
Q1 '25$248M
Q2 '25$208M
Q3 '25$78M
Q4 '25$0
Q1 '26$5M
Q2 '26$0
Q3 '26$0
Diluted shares outstanding
226.1M239.8M253.5MQ4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25Q3 '26
Show as table
PeriodValue
Q4 '20254.9M
Q1 '21252.6M
Q2 '21250.0M
Q3 '21246.4M
Q4 '21243.4M
Q1 '22240.2M
Q2 '22237.5M
Q3 '22234.0M
Q4 '22230.7M
Q1 '23228.3M
Q2 '23228.0M
Q3 '23227.0M
Q4 '23226.3M
Q1 '24226.2M
Q2 '24226.4M
Q3 '24226.5M
Q4 '24226.5M
Q1 '25226.5M
Q2 '25225.2M
Q3 '25224.7M
Q4 '25224.8M
Q1 '26225.0M
Q2 '26225.0M
Q3 '26225.2M
$0last quarter (Q3 2026)
−$78Mnet of stock compensation ($83M)
+0.2%diluted shares, 1 year
−12.2%diluted shares, 5 years
$1.2Bdividends, 12 months
0%of free cash flow ($1.6B) spent on buybacks
$0raised by issuing stock, 12 months
$6.3Bleft under its authorization as of Dec 31, 2025

By fiscal year

Fiscal yearBuybacksDividendsStock payFree cash flowDiluted sharesFiling
2025$534M$1.2B$63M$2.2B225.3M10-K
2024$0$1.2B$40M$1.7B226.4M10-K
2023$622M$1.2B$40M$852M227.4M10-K
2022$3.1B$1.2B$53M$2.3B235.6M10-K
2021$3.4B$1.0B$54M$2.8B248.1M10-K
2020$1.4B$960M$28M$2.1B256.6M10-K
2019$2.1B$949M$53M$1.9B265.6M10-K
2018$2.8B$844M$47M$1.8B280.2M10-K
2017$1.0B$703M$45M$1.5B290.3M10-K
2016$803M$695M$42M$1.1B296.0M10-K

Questions

Does Norfolk Southern buy back its stock?
Norfolk Southern bought back $5M of its stock in the last twelve months, but paid out $78M more than that in stock compensation. Its share count is up 0.2% from a year earlier.
How much did Norfolk Southern spend on buybacks in fiscal 2025?
$534M, according to its 10-K for the fiscal year ending Dec 31, 2025.
Is Norfolk Southern's share count going down?
Its diluted share count changed −12.2% over five fiscal years and +0.2% over the last year.
Does Norfolk Southern have a buyback authorization?
Its filings show $6.3B remaining under its repurchase authorization as of Dec 31, 2025.

Latest filing used: 10-Q for the period ending Sep 30, 2026, filed Oct 22, 2026 · open on SEC.gov

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