CANADIAN NATL RAILWAY CO (CNR.CA) Fundamental Analysis & Valuation

TSX:CNR • CA1363751027

Current stock price

152.19 CAD
-0.38 (-0.25%)
Last:

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

8

1. CNR.CA Profitability Analysis

1.1 Basic Checks

  • CNR had positive earnings in the past year.
  • CNR had a positive operating cash flow in the past year.
  • Each year in the past 5 years CNR has been profitable.
  • Each year in the past 5 years CNR had a positive operating cash flow.
CNR.CA Yearly Net Income VS EBIT VS OCF VS FCFCNR.CA 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

  • Looking at the Return On Assets, with a value of 8.06%, CNR belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
  • CNR has a better Return On Equity (21.88%) than 83.33% of its industry peers.
  • The Return On Invested Capital of CNR (9.07%) is better than 100.00% of its industry peers.
  • CNR had an Average Return On Invested Capital over the past 3 years of 9.35%. This is above the industry average of 6.97%.
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%
CNR.CA Yearly ROA, ROE, ROICCNR.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • The Profit Margin of CNR (27.28%) is better than 83.33% of its industry peers.
  • CNR's Profit Margin has been stable in the last couple of years.
  • Looking at the Operating Margin, with a value of 38.07%, CNR belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • CNR's Operating Margin has been stable in the last couple of years.
  • CNR has a better Gross Margin (76.35%) than 83.33% of its industry peers.
  • In the last couple of years the Gross Margin of CNR 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%
CNR.CA Yearly Profit, Operating, Gross MarginsCNR.CA 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. CNR.CA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CNR is destroying value.
  • Compared to 1 year ago, CNR has less shares outstanding
  • Compared to 5 years ago, CNR has less shares outstanding
  • The debt/assets ratio for CNR has been reduced compared to a year ago.
CNR.CA Yearly Shares OutstandingCNR.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
CNR.CA Yearly Total Debt VS Total AssetsCNR.CA 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 2.60 indicates that CNR is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • CNR's Altman-Z score of 2.60 is amongst the best of the industry. CNR outperforms 83.33% of its industry peers.
  • The Debt to FCF ratio of CNR is 6.25, which is on the high side as it means it would take CNR, 6.25 years of fcf income to pay off all of its debts.
  • CNR's Debt to FCF ratio of 6.25 is on the low side compared to the rest of the industry. CNR is outperformed by 66.67% of its industry peers.
  • CNR has a Debt/Equity ratio of 0.95. This is a neutral value indicating CNR is somewhat dependend on debt financing.
  • The Debt to Equity ratio of CNR (0.95) is worse than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.95
Debt/FCF 6.25
Altman-Z 2.6
ROIC/WACC0.96
WACC9.49%
CNR.CA Yearly LT Debt VS Equity VS FCFCNR.CA 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 CNR may have some problems paying its short term obligations.
  • CNR's Current ratio of 0.67 is in line compared to the rest of the industry. CNR outperforms 50.00% of its industry peers.
  • A Quick Ratio of 0.47 indicates that CNR may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.47, CNR perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.47
CNR.CA Yearly Current Assets VS Current LiabilitesCNR.CA 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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4

3. CNR.CA Growth Analysis

3.1 Past

  • CNR shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.73%.
  • Measured over the past 5 years, CNR shows a small growth in Earnings Per Share. The EPS has been growing by 7.52% on average per year.
  • Looking at the last year, CNR shows a small growth in Revenue. The Revenue has grown by 1.51% in the last year.
  • CNR shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.60% yearly.
EPS 1Y (TTM)4.73%
EPS 3Y0.66%
EPS 5Y7.52%
EPS Q2Q%-3.12%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.38%
Revenue growth 5Y4.6%
Sales Q2Q%-0.81%

3.2 Future

  • Based on estimates for the next years, CNR will show a small growth in Earnings Per Share. The EPS will grow by 7.77% on average per year.
  • CNR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.37% yearly.
EPS Next Y3.96%
EPS Next 2Y7.3%
EPS Next 3Y8.26%
EPS Next 5Y7.77%
Revenue Next Year3.17%
Revenue Next 2Y3.84%
Revenue Next 3Y4.26%
Revenue Next 5Y4.37%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same 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.
CNR.CA Yearly Revenue VS EstimatesCNR.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 5B 10B 15B 20B
CNR.CA Yearly EPS VS EstimatesCNR.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2 4 6 8 10

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4

4. CNR.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 20.10, which indicates a rather expensive current valuation of CNR.
  • CNR's Price/Earnings ratio is rather cheap when compared to the industry. CNR is cheaper than 83.33% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.64. CNR is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 17.32, CNR is valued on the expensive side.
  • CNR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. CNR is cheaper than 66.67% of the companies in the same industry.
  • CNR is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.36, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 20.1
Fwd PE 17.32
CNR.CA Price Earnings VS Forward Price EarningsCNR.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • CNR's Enterprise Value to EBITDA is on the same level as the industry average.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as CNR.
Industry RankSector Rank
P/FCF 27.44
EV/EBITDA 13.35
CNR.CA Per share dataCNR.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CNR does not grow enough to justify the current Price/Earnings ratio.
  • CNR has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)5.08
PEG (5Y)2.67
EPS Next 2Y7.3%
EPS Next 3Y8.26%

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7

5. CNR.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.40%, CNR has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 1.47, CNR pays a better dividend. On top of this CNR pays more dividend than 83.33% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, CNR pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.4%

5.2 History

  • On average, the dividend of CNR grows each year by 9.13%, which is quite nice.
  • CNR has been paying a dividend for at least 10 years, so it has a reliable track record.
  • CNR 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 Years29
Div Non Decr Years29
CNR.CA Yearly Dividends per shareCNR.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • CNR pays out 46.78% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of CNR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP46.78%
EPS Next 2Y7.3%
EPS Next 3Y8.26%
CNR.CA Yearly Income VS Free CF VS DividendCNR.CA 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
CNR.CA Dividend Payout.CNR.CA Dividend Payout, showing the Payout Ratio.CNR.CA Dividend Payout.PayoutRetained Earnings

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CNR.CA Fundamentals: All Metrics, Ratios and Statistics

CANADIAN NATL RAILWAY CO

TSX:CNR (5/1/2026, 7:00:00 PM)

152.19

-0.38 (-0.25%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Industry Strength61.72
Industry Growth50.75
Earnings (Last)04-29
Earnings (Next)07-22
Inst Owners74.19%
Inst Owner ChangeN/A
Ins Owners0.11%
Ins Owner ChangeN/A
Market Cap93.05B
Revenue(TTM)17.30B
Net Income(TTM)4.72B
Analysts72.14
Price Target160.51 (5.47%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.4%
Yearly Dividend3.56
Dividend Growth(5Y)9.13%
DP46.78%
Div Incr Years29
Div Non Decr Years29
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)-0.03%
PT rev (3m)-0.4%
EPS NQ rev (1m)0.73%
EPS NQ rev (3m)-3.09%
EPS NY rev (1m)-0.02%
EPS NY rev (3m)-2.96%
Revenue NQ rev (1m)1.17%
Revenue NQ rev (3m)-1.73%
Revenue NY rev (1m)0.86%
Revenue NY rev (3m)-0.56%
Valuation
Industry RankSector Rank
PE 20.1
Fwd PE 17.32
P/S 5.38
P/FCF 27.44
P/OCF 13.2
P/B 4.31
P/tB 4.36
EV/EBITDA 13.35
EPS(TTM)7.57
EY4.97%
EPS(NY)8.78
Fwd EY5.77%
FCF(TTM)5.55
FCFY3.64%
OCF(TTM)11.53
OCFY7.58%
SpS28.3
BVpS35.28
TBVpS34.92
PEG (NY)5.08
PEG (5Y)2.67
Graham Number77.5142 (-49.07%)
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 2.6
F-Score7
WACC9.49%
ROIC/WACC0.96
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)4.73%
EPS 3Y0.66%
EPS 5Y7.52%
EPS Q2Q%-3.12%
EPS Next Y3.96%
EPS Next 2Y7.3%
EPS Next 3Y8.26%
EPS Next 5Y7.77%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.38%
Revenue growth 5Y4.6%
Sales Q2Q%-0.81%
Revenue Next Year3.17%
Revenue Next 2Y3.84%
Revenue Next 3Y4.26%
Revenue Next 5Y4.37%
EBIT growth 1Y4.14%
EBIT growth 3Y-1.25%
EBIT growth 5Y4.59%
EBIT Next Year35.03%
EBIT Next 3Y14.59%
EBIT Next 5Y12.4%
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 / CNR.CA Fundamental Analysis FAQ

What is the fundamental rating for CNR stock?

ChartMill assigns a fundamental rating of 5 / 10 to CNR.CA.


What is the valuation status of CANADIAN NATL RAILWAY CO (CNR.CA) stock?

ChartMill assigns a valuation rating of 4 / 10 to CANADIAN NATL RAILWAY CO (CNR.CA). This can be considered as Fairly Valued.


Can you provide the profitability details for CANADIAN NATL RAILWAY CO?

CANADIAN NATL RAILWAY CO (CNR.CA) 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 (CNR.CA) is 20.1 and the Price/Book (PB) ratio is 4.31.


What is the earnings growth outlook for CANADIAN NATL RAILWAY CO?

The Earnings per Share (EPS) of CANADIAN NATL RAILWAY CO (CNR.CA) is expected to grow by 3.96% in the next year.