+10.6% from 2025 Q2
Revenue and Expenses · Quarterly RE&I
Railroad revenue and expenses
Compare quarterly Class I railroad revenue, expenses and operating ratios from Surface Transportation Board filings. Operating totals are calculated from reported line items; the expense-to-revenue ratio is reported directly.
Six reporting railroads · Quarterly RE&I
2026 Q2 · Revenue and expenses
Each line has its own scale; compare exact values across railroads. Select a dot to inspect that quarter across all six railroads. Ratio changes use percentage points (pp).
| Reporting railroad | Operating revenueU.S. dollars · Calculated | Operating expensesU.S. dollars · Calculated | Expense-to-revenue ratioPercent · STB reported |
|---|---|---|---|
 STB: CSXTAmended filing: No | $3,602,994,984+13.3% vs previous quarterExplore this trend → | $2,265,124,237+6.5% vs previous quarterExplore this trend → | 62.9%-4.0 pp vs previous quarterExplore this trend → |
 STB: NSAmended filing: No | $3,465,342,211+15.6% vs previous quarterExplore this trend → | $2,492,538,455+7.9% vs previous quarterExplore this trend → | 71.9%-5.1 pp vs previous quarterExplore this trend → |
 STB: UPAmended filing: No | $6,845,490,000+10.4% vs previous quarterExplore this trend → | $4,104,182,000+9.4% vs previous quarterExplore this trend → | 60.0%-0.6 pp vs previous quarterExplore this trend → |
 STB: BNSFAmended filing: No | $6,670,262,000+10.1% vs previous quarterExplore this trend → | $4,429,384,000+9.8% vs previous quarterExplore this trend → | 66.4%-0.2 pp vs previous quarterExplore this trend → |
 STB: GTCAmended filing: No | $1,024,534,542+12.1% vs previous quarterExplore this trend → | $711,733,510-4.1% vs previous quarterExplore this trend → | 69.5%-11.7 pp vs previous quarterExplore this trend → |
 STB: CPKCAmended filing: No | $1,003,712,258+12.7% vs previous quarterExplore this trend → | $749,712,446+11.6% vs previous quarterExplore this trend → | 74.7%-0.7 pp vs previous quarterExplore this trend → |
How to read this
Operating revenue and expense totals are calculated from reported line items. The expense-to-revenue ratio is reported by the STB filing. Comparisons use the same form, quarter and component definitions.
Each dot represents one quarter. The filled dot marks the selected quarter, and the number above each line is its exact value. Click or tap a dot, use the quarter selector, or focus a chart and use the arrow keys to move through time. Home and End select the first and last quarters.
Percentages compare the selected value with either the previous quarter or the same quarter last year: (selected value − comparison value) ÷ comparison value × 100. A positive or negative change does not, by itself, mean better or worse performance.
History begins in 2025 Q1, so prior-year values are unavailable for 2025. Changes are also unavailable when the comparison crosses a reporting-series transition. Lines use their own vertical scales to reveal patterns, so similar slopes can represent different amounts of change.
Expense-to-revenue ratio changes are percentage-point differences, calculated from the reported ratios before display rounding. They are not relative percentage changes.
The revised STB template does not require carriers to report subtotals or totals. RailStats.org calculates operating revenue and operating expense totals from the reported component lines and labels them as calculations.
The expense-to-revenue ratio is not a complete measure of profitability, service quality or railroad performance. Amendment status refers to the selected quarter’s filing.
GTC is Canadian National’s U.S. reporting scope. Each form describes the STB reporting entity, which may differ from the full corporate railroad. Amounts are nominal, not adjusted for inflation. Railroad size differs, so totals are not performance rankings.
CSX example: latest quarter and prior-year context
Featured example
Latest quarter at a glance
2026 Q2, compared with the same quarter one year earlier. Dollar totals and changes are RailStats.org calculations from reported line items.
+6.0% from 2025 Q2
65.5% in 2025 Q2
Definition and provenance
Reported components, disclosed calculations
The revised STB template does not require carriers to report subtotals or totals. RailStats.org calculates operating revenue and operating expense totals from the reported component lines and labels them as calculations.
The source covers the reporting entity named in each STB filing. GTC is presented as Canadian National’s U.S. reporting scope. Values are nominal dollars and no causal explanation is inferred.
Data, coverage and citation
RailStats.org normalized STB Revenue, Expense & Income data
Reported line items and reported expense-to-revenue ratios for six Class I railroads, plus clearly labeled RailStats.org totals calculated from the reported line items. Revenue and expense totals are calculated from reported components. The reported ratio alone does not establish service quality or overall performance.
Reporting coverage: 2025-01-01/2026-06-30. Official sources retrieved/reviewed: 2026-08-23. This is distinct from the website publication date.
Measures and units: Operating revenue · nominal US dollars; Operating expenses · nominal US dollars; Expenses to revenues · percent.
Official STB collection · Source provenance · Methodology and limitations
- Download JSON · 48035 bytes
SHA-256:63dafd0542e07c56b20469e5cda5bf7089ff3d7b9474724521f576f7c3417fca - Download CSV · 11122 bytes
SHA-256:65177532fd9b077cbbac3791c7f2eedfbe64fd9b36a94e9f5dabdb840c260aec
Suggested citation: RailStats.org, “RailStats.org normalized STB Revenue, Expense & Income data”, reporting coverage 2025-01-01/2026-06-30, official sources retrieved/reviewed 2026-08-23. Based on Surface Transportation Board records. Cite the entity, reporting period, measure, units and linked original; identify calculated values and withheld observations. Download SHA-256: 63dafd0542e07c56b20469e5cda5bf7089ff3d7b9474724521f576f7c3417fca.
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