CANADIAN NATL RAILWAY CO (CNI) Fundamental Analysis & Valuation

NYSE:CNI • CA1363751027

Current stock price

101.43 USD
-0.16 (-0.16%)
At close:
101.43 USD
0 (0%)
After Hours:

This CNI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. CNI Profitability Analysis

1.1 Basic Checks

  • In the past year CNI was profitable.
  • In the past year CNI had a positive cash flow from operations.
  • Each year in the past 5 years CNI has been profitable.
  • Each year in the past 5 years CNI had a positive operating cash flow.
CNI Yearly Net Income VS EBIT VS OCF VS FCFCNI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

1.2 Ratios

  • CNI has a better Return On Assets (8.06%) than 83.33% of its industry peers.
  • CNI has a Return On Equity of 21.88%. This is amongst the best in the industry. CNI outperforms 88.10% of its industry peers.
  • CNI has a Return On Invested Capital of 9.07%. This is amongst the best in the industry. CNI outperforms 85.71% of its industry peers.
  • CNI had an Average Return On Invested Capital over the past 3 years of 9.35%. This is above the industry average of 7.14%.
Industry RankSector Rank
ROA 8.06%
ROE 21.88%
ROIC 9.07%
ROA(3y)8.85%
ROA(5y)9.34%
ROE(3y)23.66%
ROE(5y)23.28%
ROIC(3y)9.35%
ROIC(5y)9.63%
CNI Yearly ROA, ROE, ROICCNI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • CNI's Profit Margin of 27.28% is amongst the best of the industry. CNI outperforms 90.48% of its industry peers.
  • CNI's Profit Margin has been stable in the last couple of years.
  • With an excellent Operating Margin value of 38.07%, CNI belongs to the best of the industry, outperforming 97.62% of the companies in the same industry.
  • CNI's Operating Margin has been stable in the last couple of years.
  • CNI has a better Gross Margin (76.35%) than 88.10% of its industry peers.
  • CNI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 38.07%
PM (TTM) 27.28%
GM 76.35%
OM growth 3Y-1.62%
OM growth 5Y-0.01%
PM growth 3Y-3.03%
PM growth 5Y1.14%
GM growth 3Y1.75%
GM growth 5Y0.07%
CNI Yearly Profit, Operating, Gross MarginsCNI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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3

2. CNI Health Analysis

2.1 Basic Checks

  • CNI has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • CNI has less shares outstanding than it did 1 year ago.
  • CNI has less shares outstanding than it did 5 years ago.
  • CNI has a better debt/assets ratio than last year.
CNI Yearly Shares OutstandingCNI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
CNI Yearly Total Debt VS Total AssetsCNI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • An Altman-Z score of 2.49 indicates that CNI is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • CNI has a Altman-Z score of 2.49. This is comparable to the rest of the industry: CNI outperforms 54.76% of its industry peers.
  • CNI has a debt to FCF ratio of 6.25. This is a slightly negative value and a sign of low solvency as CNI would need 6.25 years to pay back of all of its debts.
  • CNI has a Debt to FCF ratio of 6.25. This is in the better half of the industry: CNI outperforms 69.05% of its industry peers.
  • A Debt/Equity ratio of 0.95 indicates that CNI is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.95, CNI is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 6.25
Altman-Z 2.49
ROIC/WACC0.97
WACC9.3%
CNI Yearly LT Debt VS Equity VS FCFCNI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.3 Liquidity

  • A Current Ratio of 0.67 indicates that CNI may have some problems paying its short term obligations.
  • CNI has a Current ratio of 0.67. This is amonst the worse of the industry: CNI underperforms 85.71% of its industry peers.
  • CNI has a Quick Ratio of 0.67. This is a bad value and indicates that CNI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • CNI has a worse Quick ratio (0.47) than 90.48% of its industry peers.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.47
CNI Yearly Current Assets VS Current LiabilitesCNI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. CNI Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.46% over the past year.
  • CNI shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.52% yearly.
  • Looking at the last year, CNI shows a small growth in Revenue. The Revenue has grown by 1.51% in the last year.
  • CNI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.60% yearly.
EPS 1Y (TTM)7.46%
EPS 3Y0.66%
EPS 5Y7.52%
EPS Q2Q%14.29%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.38%
Revenue growth 5Y4.6%
Sales Q2Q%2.43%

3.2 Future

  • The Earnings Per Share is expected to grow by 10.48% on average over the next years. This is quite good.
  • Based on estimates for the next years, CNI will show a small growth in Revenue. The Revenue will grow by 4.93% on average per year.
EPS Next Y3.97%
EPS Next 2Y7.28%
EPS Next 3Y8.19%
EPS Next 5Y10.48%
Revenue Next Year1.89%
Revenue Next 2Y3.44%
Revenue Next 3Y4.02%
Revenue Next 5Y4.93%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
CNI Yearly Revenue VS EstimatesCNI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B
CNI Yearly EPS VS EstimatesCNI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8 10

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5

4. CNI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 18.38, the valuation of CNI can be described as rather expensive.
  • Based on the Price/Earnings ratio, CNI is valued cheaper than 80.95% of the companies in the same industry.
  • CNI's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.88.
  • The Price/Forward Earnings ratio is 17.69, which indicates a rather expensive current valuation of CNI.
  • Based on the Price/Forward Earnings ratio, CNI is valued cheaper than 88.10% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of CNI to the average of the S&P500 Index (22.19), we can say CNI is valued slightly cheaper.
Industry RankSector Rank
PE 18.38
Fwd PE 17.69
CNI Price Earnings VS Forward Price EarningsCNI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • CNI's Enterprise Value to EBITDA is on the same level as the industry average.
  • Based on the Price/Free Cash Flow ratio, CNI is valued a bit cheaper than 73.81% of the companies in the same industry.
Industry RankSector Rank
P/FCF 25.3
EV/EBITDA 12.51
CNI Per share dataCNI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of CNI may justify a higher PE ratio.
PEG (NY)4.63
PEG (5Y)2.44
EPS Next 2Y7.28%
EPS Next 3Y8.19%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. CNI Dividend Analysis

5.1 Amount

  • CNI has a Yearly Dividend Yield of 2.60%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 0.75, CNI pays a better dividend. On top of this CNI pays more dividend than 100.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.90, CNI pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.6%

5.2 History

  • On average, the dividend of CNI grows each year by 9.13%, which is quite nice.
  • CNI has paid a dividend for at least 10 years, which is a reliable track record.
  • CNI has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.13%
Div Incr Years27
Div Non Decr Years27
CNI Yearly Dividends per shareCNI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • CNI pays out 46.78% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of CNI is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP46.78%
EPS Next 2Y7.28%
EPS Next 3Y8.19%
CNI Yearly Income VS Free CF VS DividendCNI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
CNI Dividend Payout.CNI Dividend Payout, showing the Payout Ratio.CNI Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

CNI Fundamentals: All Metrics, Ratios and Statistics

CANADIAN NATL RAILWAY CO

NYSE:CNI (3/27/2026, 8:09:04 PM)

After market: 101.43 0 (0%)

101.43

-0.16 (-0.16%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)01-30
Earnings (Next)04-29
Inst Owners74.37%
Inst Owner Change0.23%
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap62.01B
Revenue(TTM)17.30B
Net Income(TTM)4.72B
Analysts72.14
Price Target115.95 (14.32%)
Short Float %1.06%
Short Ratio3.65
Dividend
Industry RankSector Rank
Dividend Yield 2.6%
Yearly Dividend2.57
Dividend Growth(5Y)9.13%
DP46.78%
Div Incr Years27
Div Non Decr Years27
Ex-Date03-10
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.03%
Min EPS beat(2)2.21%
Max EPS beat(2)3.84%
EPS beat(4)3
Avg EPS beat(4)1.97%
Min EPS beat(4)-0.91%
Max EPS beat(4)3.84%
EPS beat(8)3
Avg EPS beat(8)-1.07%
EPS beat(12)5
Avg EPS beat(12)-0.84%
EPS beat(16)7
Avg EPS beat(16)-0.07%
Revenue beat(2)0
Avg Revenue beat(2)-0.9%
Min Revenue beat(2)-1.16%
Max Revenue beat(2)-0.65%
Revenue beat(4)0
Avg Revenue beat(4)-1.21%
Min Revenue beat(4)-2.53%
Max Revenue beat(4)-0.5%
Revenue beat(8)0
Avg Revenue beat(8)-1.59%
Revenue beat(12)2
Avg Revenue beat(12)-1.52%
Revenue beat(16)5
Avg Revenue beat(16)-0.54%
PT rev (1m)-0.07%
PT rev (3m)1.5%
EPS NQ rev (1m)0.03%
EPS NQ rev (3m)-5.87%
EPS NY rev (1m)-2.94%
EPS NY rev (3m)-2.84%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.29%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)-1.84%
Valuation
Industry RankSector Rank
PE 18.38
Fwd PE 17.69
P/S 4.96
P/FCF 25.3
P/OCF 12.17
P/B 3.98
P/tB 4.02
EV/EBITDA 12.51
EPS(TTM)5.52
EY5.44%
EPS(NY)5.73
Fwd EY5.65%
FCF(TTM)4.01
FCFY3.95%
OCF(TTM)8.33
OCFY8.22%
SpS20.46
BVpS25.5
TBVpS25.24
PEG (NY)4.63
PEG (5Y)2.44
Graham Number56.28
Profitability
Industry RankSector Rank
ROA 8.06%
ROE 21.88%
ROCE 12.01%
ROIC 9.07%
ROICexc 9.12%
ROICexgc 9.16%
OM 38.07%
PM (TTM) 27.28%
GM 76.35%
FCFM 19.6%
ROA(3y)8.85%
ROA(5y)9.34%
ROE(3y)23.66%
ROE(5y)23.28%
ROIC(3y)9.35%
ROIC(5y)9.63%
ROICexc(3y)9.43%
ROICexc(5y)9.73%
ROICexgc(3y)9.46%
ROICexgc(5y)9.77%
ROCE(3y)12.59%
ROCE(5y)12.93%
ROICexgc growth 3Y-5.89%
ROICexgc growth 5Y-1.26%
ROICexc growth 3Y-5.88%
ROICexc growth 5Y-1.24%
OM growth 3Y-1.62%
OM growth 5Y-0.01%
PM growth 3Y-3.03%
PM growth 5Y1.14%
GM growth 3Y1.75%
GM growth 5Y0.07%
F-Score7
Asset Turnover0.3
Health
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 6.25
Debt/EBITDA 2.4
Cap/Depr 188.75%
Cap/Sales 21.14%
Interest Coverage 6.73
Cash Conversion 82.69%
Profit Quality 71.84%
Current Ratio 0.67
Quick Ratio 0.47
Altman-Z 2.49
F-Score7
WACC9.3%
ROIC/WACC0.97
Cap/Depr(3y)183.91%
Cap/Depr(5y)178.34%
Cap/Sales(3y)20.3%
Cap/Sales(5y)19.39%
Profit Quality(3y)69.94%
Profit Quality(5y)73.95%
High Growth Momentum
Growth
EPS 1Y (TTM)7.46%
EPS 3Y0.66%
EPS 5Y7.52%
EPS Q2Q%14.29%
EPS Next Y3.97%
EPS Next 2Y7.28%
EPS Next 3Y8.19%
EPS Next 5Y10.48%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.38%
Revenue growth 5Y4.6%
Sales Q2Q%2.43%
Revenue Next Year1.89%
Revenue Next 2Y3.44%
Revenue Next 3Y4.02%
Revenue Next 5Y4.93%
EBIT growth 1Y4.14%
EBIT growth 3Y-1.25%
EBIT growth 5Y4.59%
EBIT Next Year35.09%
EBIT Next 3Y14.62%
EBIT Next 5Y12.45%
FCF growth 1Y7.65%
FCF growth 3Y-4.69%
FCF growth 5Y0.53%
OCF growth 1Y5.22%
OCF growth 3Y1.87%
OCF growth 5Y2.72%

CANADIAN NATL RAILWAY CO / CNI Fundamental Analysis FAQ

What is the fundamental rating for CNI stock?

ChartMill assigns a fundamental rating of 5 / 10 to CNI.


What is the valuation status for CNI stock?

ChartMill assigns a valuation rating of 5 / 10 to CANADIAN NATL RAILWAY CO (CNI). This can be considered as Fairly Valued.


What is the profitability of CNI stock?

CANADIAN NATL RAILWAY CO (CNI) has a profitability rating of 8 / 10.


What is the valuation of CANADIAN NATL RAILWAY CO based on its PE and PB ratios?

The Price/Earnings (PE) ratio for CANADIAN NATL RAILWAY CO (CNI) is 18.38 and the Price/Book (PB) ratio is 3.98.


How financially healthy is CANADIAN NATL RAILWAY CO?

The financial health rating of CANADIAN NATL RAILWAY CO (CNI) is 3 / 10.