Railroad Trends · Indexed comparison

Compare quarterly trends.

See how selected measures changed from the same starting quarter. Exact values and annual traffic remain separate.

Norfolk Southern3 measures · 2025 Q1–2026 Q2

Quarterly · relative movement

Your comparison

Index: first selected quarter = 100.

Average employeesOperating revenueTotal capital expenditures
Norfolk Southern · solid
Indexed quarterly comparison: Norfolk Southern Average employees, Norfolk Southern Operating revenue, Norfolk Southern Total capital expendituresFrom 2025 Q1 to 2026 Q2. Every available line starts at 100. Exact values are in the following table. Similar movement does not establish causation.256211165119742025 Q12025 Q22025 Q32025 Q42026 Q12026 Q2Norfolk Southern · Average employees, 2025 Q1: index 100.0; 19,587Norfolk Southern · Average employees, 2025 Q2: index 99.2; 19,434Norfolk Southern · Average employees, 2025 Q3: index 99.8; 19,548Norfolk Southern · Average employees, 2025 Q4: index 100.3; 19,653Norfolk Southern · Average employees, 2026 Q1: index 98.4; 19,267Norfolk Southern · Average employees, 2026 Q2: index 97.8; 19,159Norfolk Southern · Operating revenue, 2025 Q1: index 100.0; $2,993,257,249Norfolk Southern · Operating revenue, 2025 Q2: index 103.9; $3,109,359,833Norfolk Southern · Operating revenue, 2025 Q3: index 103.7; $3,103,715,887Norfolk Southern · Operating revenue, 2025 Q4: index 99.4; $2,973,976,906Norfolk Southern · Operating revenue, 2026 Q1: index 100.1; $2,997,671,752Norfolk Southern · Operating revenue, 2026 Q2: index 115.8; $3,465,342,211Norfolk Southern · Total capital expenditures, 2025 Q1: index 100.0; $328,471,510Norfolk Southern · Total capital expenditures, 2025 Q2: index 145.0; $476,389,448Norfolk Southern · Total capital expenditures, 2025 Q3: index 178.0; $584,837,356Norfolk Southern · Total capital expenditures, 2025 Q4: index 232.1; $762,402,613Norfolk Southern · Total capital expenditures, 2026 Q1: index 100.1; $328,916,790Norfolk Southern · Total capital expenditures, 2026 Q2: index 170.6; $560,485,408
Indexed lines compare relative movement, not railroad size or absolute performance. Co-movement does not establish causation.
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2 · Quarterly timeline
STB reportedRailStats calculatedIndexed comparison

120 means 20% higher. Color identifies the measure; line style identifies the railroad.

Quarter readout

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2026 Q2 · change from 2025 Q1

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All selected lines at 2026 Q2. Changes are RailStats.org calculations relative to the starting quarter.
Railroad / measureExact valueIndexChange from start
Norfolk Southern · Average employeesRailStats calculated19,15997.8-2.2%
Norfolk Southern · Operating revenueRailStats calculated$3,465,342,211115.8+15.8%
Norfolk Southern · Total capital expendituresRailStats calculated$560,485,408170.6+70.6%

100 is the starting value. Percentage change = index − 100; for a percentage-valued measure, this is relative change, not percentage points. A dash means unavailable.

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Annual traffic

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Exact quarterly values and calculated indexes

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Source-unit values · index from 2025 Q1. A dash means unavailable, never zero.
Railroad / measure2025 Q12025 Q22025 Q32025 Q42026 Q12026 Q2
Norfolk Southern · Average employeesRailStats calculated19,587Index 100.019,434Index 99.219,548Index 99.819,653Index 100.319,267Index 98.419,159Index 97.8
Norfolk Southern · Operating revenueRailStats calculated$2,993,257,249Index 100.0$3,109,359,833Index 103.9$3,103,715,887Index 103.7$2,973,976,906Index 99.4$2,997,671,752Index 100.1$3,465,342,211Index 115.8
Norfolk Southern · Total capital expendituresRailStats calculated$328,471,510Index 100.0$476,389,448Index 145.0$584,837,356Index 178.0$762,402,613Index 232.1$328,916,790Index 100.1$560,485,408Index 170.6

Separate period · annual traffic

2025 full-year traffic

Only one annual year is available, so these are snapshots, not trend lines. Annual totals are not repeated across quarters or plotted on the quarterly index. Timeline controls above do not change this full-year view.

Carloads

STB reported · carloads

Norfolk Southern7,012,990

Tons

STB reported · tons

Norfolk Southern321,734,261

Gross freight revenue

STB reported · nominal USD

Norfolk Southern$12,047,639,815

Each measure has its own bar scale. Larger totals reflect scale of operations; they do not by themselves indicate efficiency or better performance.

Sources, formulas, and limits

Average employees

RailStats calculated · Quarterly Wage A&B

Sum of the six STB-reported occupational-group average-employee values. Quarterly average. Not a point-in-time headcount.

Operating revenue

RailStats calculated · Quarterly Revenue, Expenses & Income

Sum of five STB-reported operating-revenue line items. Quarterly nominal dollars.

Total capital expenditures

RailStats calculated · Quarterly Condensed Balance Sheet

STB-reported road expenditures plus STB-reported equipment expenditures. Quarter-only nominal dollars.

Index = selected-quarter value ÷ first-quarter value × 100. A zero, negative, or missing starting value cannot be indexed and is marked unavailable; later missing values break the line. Annual traffic uses the reported annual Freight Commodity Statistics totals.

Read methodology · Review official sources

How to read this view

Patterns can guide questions, not prove causes.

Reported facts, RailStats.org-calculated totals, and indexed values remain labeled separately. Annual traffic stays outside the quarterly overlay because its reporting period does not align.