CANADIAN NATL RAILWAY CO (CNI) Stock Fundamental Analysis

NYSE:CNI • CA1363751027

107.6 USD
+0.3 (+0.28%)
At close: Feb 13, 2026
107.5 USD
-0.1 (-0.09%)
After Hours: 2/13/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Taking everything into account, CNI scores 5 out of 10 in our fundamental rating. CNI was compared to 42 industry peers in the Ground Transportation industry. While CNI has a great profitability rating, there are quite some concerns on its financial health. CNI has a correct valuation and a medium growth rate. CNI also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • CNI had positive earnings in the past year.
  • CNI had a positive operating cash flow in the past year.
  • In the past 5 years CNI has always been profitable.
  • CNI had a positive operating cash flow in each of the past 5 years.
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 Return On Assets of 8.06%. This is amongst the best in the industry. CNI outperforms 80.95% of its industry peers.
  • With an excellent Return On Equity value of 21.88%, CNI belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 9.09%, CNI belongs to the top of the industry, outperforming 88.10% of the companies in the same industry.
  • CNI had an Average Return On Invested Capital over the past 3 years of 9.36%. This is above the industry average of 7.14%.
Industry RankSector Rank
ROA 8.06%
ROE 21.88%
ROIC 9.09%
ROA(3y)8.85%
ROA(5y)9.34%
ROE(3y)23.66%
ROE(5y)23.28%
ROIC(3y)9.36%
ROIC(5y)9.64%
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

  • Looking at the Profit Margin, with a value of 27.28%, CNI belongs to the top of the industry, outperforming 92.86% of the companies in the same industry.
  • In the last couple of years the Profit Margin of CNI has remained more or less at the same level.
  • CNI has a better Operating Margin (38.07%) than 97.62% of its industry peers.
  • In the last couple of years the Operating Margin of CNI has remained more or less at the same level.
  • CNI's Gross Margin of 76.35% is amongst the best of the industry. CNI outperforms 88.10% of its industry peers.
  • In the last couple of years the Gross Margin of CNI has remained more or less at the same level.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

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.
  • The number of shares outstanding for CNI has been reduced compared to 1 year ago.
  • The number of shares outstanding for CNI has been reduced compared to 5 years ago.
  • The debt/assets ratio for CNI has been reduced compared to a year ago.
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 2.55 indicates that CNI is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • CNI has a Altman-Z score (2.55) which is in line with 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.
  • With a decent Debt to FCF ratio value of 6.25, CNI is doing good in the industry, outperforming 73.81% of the companies in the same industry.
  • CNI has a Debt/Equity ratio of 0.94. This is a neutral value indicating CNI is somewhat dependend on debt financing.
  • The Debt to Equity ratio of CNI (0.94) is worse than 61.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.94
Debt/FCF 6.25
Altman-Z 2.55
ROIC/WACC1.02
WACC8.93%
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

  • CNI has a Current 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 Current ratio of 0.67. This is amonst the worse of the industry: CNI underperforms 88.10% 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.
  • With a Quick ratio value of 0.47, CNI is not doing good in the industry: 90.48% of the companies in the same industry are doing better.
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. Growth

3.1 Past

  • CNI shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.46%.
  • 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.
  • The Revenue has been growing slightly by 4.60% on average over the past years.
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

  • Based on estimates for the next years, CNI will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.64% on average per year.
  • The Revenue is expected to grow by 5.10% on average over the next years.
EPS Next Y7.13%
EPS Next 2Y8.7%
EPS Next 3Y10.11%
EPS Next 5Y10.64%
Revenue Next Year3.85%
Revenue Next 2Y4.52%
Revenue Next 3Y5.06%
Revenue Next 5Y5.1%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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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6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 19.15, the valuation of CNI can be described as rather expensive.
  • Based on the Price/Earnings ratio, CNI is valued cheaply inside the industry as 83.33% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of CNI to the average of the S&P500 Index (27.97), we can say CNI is valued slightly cheaper.
  • CNI is valuated rather expensively with a Price/Forward Earnings ratio of 17.88.
  • Based on the Price/Forward Earnings ratio, CNI is valued cheaper than 83.33% of the companies in the same industry.
  • CNI's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.96.
Industry RankSector Rank
PE 19.15
Fwd PE 17.88
CNI Price Earnings VS Forward Price EarningsCNI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CNI is valued a bit cheaper than the industry average as 61.90% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, CNI is valued cheaply inside the industry as 83.33% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 26.57
EV/EBITDA 12.99
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 CNI does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of CNI may justify a higher PE ratio.
PEG (NY)2.69
PEG (5Y)2.55
EPS Next 2Y8.7%
EPS Next 3Y10.11%

More info and screens

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

7

5. Dividend

5.1 Amount

  • CNI has a Yearly Dividend Yield of 2.67%. Purely for dividend investing, there may be better candidates out there.
  • CNI's Dividend Yield is rather good when compared to the industry average which is at 0.68. CNI pays more dividend than 100.00% of the companies in the same industry.
  • CNI's Dividend Yield is a higher than the S&P500 average which is at 1.79.
Industry RankSector Rank
Dividend Yield 2.67%

5.2 History

  • The dividend of CNI is nicely growing with an annual growth rate of 9.13%!
  • CNI has been paying a dividend for at least 10 years, so it has a reliable track record.
  • CNI has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
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.
  • CNI's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP46.78%
EPS Next 2Y8.7%
EPS Next 3Y10.11%
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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CANADIAN NATL RAILWAY CO

NYSE:CNI (2/13/2026, 8:04:00 PM)

After market: 107.5 -0.1 (-0.09%)

107.6

+0.3 (+0.28%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)01-30
Earnings (Next)04-29
Inst Owners73.16%
Inst Owner Change-1.41%
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap66.34B
Revenue(TTM)17.30B
Net Income(TTM)4.72B
Analysts72.14
Price Target116.03 (7.83%)
Short Float %0.67%
Short Ratio2.85
Dividend
Industry RankSector Rank
Dividend Yield 2.67%
Yearly Dividend2.6
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)-0.21%
PT rev (3m)2.7%
EPS NQ rev (1m)-4.76%
EPS NQ rev (3m)-5.75%
EPS NY rev (1m)0.36%
EPS NY rev (3m)-0.84%
Revenue NQ rev (1m)-3.34%
Revenue NQ rev (3m)-3.76%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.17%
Valuation
Industry RankSector Rank
PE 19.15
Fwd PE 17.88
P/S 5.21
P/FCF 26.57
P/OCF 12.78
P/B 4.18
P/tB 4.18
EV/EBITDA 12.99
EPS(TTM)5.62
EY5.22%
EPS(NY)6.02
Fwd EY5.59%
FCF(TTM)4.05
FCFY3.76%
OCF(TTM)8.42
OCFY7.82%
SpS20.66
BVpS25.76
TBVpS25.76
PEG (NY)2.69
PEG (5Y)2.55
Graham Number57.07
Profitability
Industry RankSector Rank
ROA 8.06%
ROE 21.88%
ROCE 12.01%
ROIC 9.09%
ROICexc 9.15%
ROICexgc 9.15%
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)9.36%
ROIC(5y)9.64%
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-5.95%
ROICexgc growth 5Y-1.3%
ROICexc growth 3Y-5.81%
ROICexc growth 5Y-1.19%
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 0.94
Debt/FCF 6.25
Debt/EBITDA 2.38
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 2.55
F-Score7
WACC8.93%
ROIC/WACC1.02
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 Y7.13%
EPS Next 2Y8.7%
EPS Next 3Y10.11%
EPS Next 5Y10.64%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.38%
Revenue growth 5Y4.6%
Sales Q2Q%2.43%
Revenue Next Year3.85%
Revenue Next 2Y4.52%
Revenue Next 3Y5.06%
Revenue Next 5Y5.1%
EBIT growth 1Y4.14%
EBIT growth 3Y-1.25%
EBIT growth 5Y4.59%
EBIT Next Year38.79%
EBIT Next 3Y15.61%
EBIT Next 5Y12.92%
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 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 6 / 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 19.15 and the Price/Book (PB) ratio is 4.18.


How financially healthy is CANADIAN NATL RAILWAY CO?

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