CANADIAN NATL RAILWAY CO (CNR.CA) Stock Fundamental Analysis
TSX:CNR • CA1363751027
153.07 CAD
+2.21 (+1.46%)
Last: Feb 27, 2026, 07:00 PM
CNR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 6 industry peers in the Ground Transportation industry. CNR scores excellent on profitability, but there are concerns on its financial health. CNR has a decent growth rate and is not valued too expensively. Finally CNR also has an excellent dividend rating.
1. Profitability
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.
- In the past 5 years CNR always reported a positive cash flow from operatings.
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.
- With an excellent Return On Equity value of 21.88%, CNR belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
- CNR has a Return On Invested Capital of 9.07%. This is amongst the best in the industry. CNR outperforms 100.00% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for CNR is above the industry average of 6.96%.
| Industry Rank | Sector 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%
1.3 Margins
- With an excellent Profit Margin value of 27.28%, CNR belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
- In the last couple of years the Profit Margin of CNR has remained more or less at the same level.
- CNR's Operating Margin of 38.07% is amongst the best of the industry. CNR outperforms 100.00% of its industry peers.
- CNR's Operating Margin has been stable in the last couple of years.
- CNR has a Gross Margin of 76.35%. This is amongst the best in the industry. CNR outperforms 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 Rank | Sector 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%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CNR is destroying value.
- Compared to 1 year ago, CNR has less shares outstanding
- The number of shares outstanding for CNR has been reduced compared to 5 years ago.
- Compared to 1 year ago, CNR has an improved debt to assets ratio.
2.2 Solvency
- CNR has an Altman-Z score of 2.61. This is not the best score and indicates that CNR is in the grey zone with still only limited risk for bankruptcy at the moment.
- CNR has a better Altman-Z score (2.61) than 83.33% of its industry peers.
- CNR has a debt to FCF ratio of 6.25. This is a slightly negative value and a sign of low solvency as CNR would need 6.25 years to pay back of all of its debts.
- CNR has a Debt to FCF ratio of 6.25. This is in the lower half of the industry: CNR underperforms 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.
- CNR's Debt to Equity ratio of 0.95 is on the low side compared to the rest of the industry. CNR is outperformed by 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.95 | ||
| Debt/FCF | 6.25 | ||
| Altman-Z | 2.61 |
ROIC/WACC0.95
WACC9.53%
2.3 Liquidity
- CNR has a Current Ratio of 0.67. This is a bad value and indicates that CNR is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 0.67, CNR is in line with its industry, outperforming 50.00% of the companies in the same industry.
- CNR has a Quick Ratio of 0.67. This is a bad value and indicates that CNR is not financially healthy enough and could expect problems in meeting its short term obligations.
- The Quick ratio of CNR (0.47) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.67 | ||
| Quick Ratio | 0.47 |
3. Growth
3.1 Past
- CNR shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.46%.
- 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.
- The Revenue has been growing slightly by 1.51% in the past 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
- The Earnings Per Share is expected to grow by 10.30% on average over the next years. This is quite good.
- CNR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.76% yearly.
EPS Next Y7.13%
EPS Next 2Y8.7%
EPS Next 3Y10.11%
EPS Next 5Y10.3%
Revenue Next Year1.88%
Revenue Next 2Y3.43%
Revenue Next 3Y4.01%
Revenue Next 5Y4.76%
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.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 20.06, which indicates a rather expensive current valuation of CNR.
- Compared to the rest of the industry, the Price/Earnings ratio of CNR indicates a somewhat cheap valuation: CNR is cheaper than 66.67% of the companies listed in the same industry.
- CNR is valuated rather cheaply when we compare the Price/Earnings ratio to 27.07, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 18.73 indicates a rather expensive valuation of CNR.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of CNR indicates a somewhat cheap valuation: CNR is cheaper than 66.67% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 28.05, CNR is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.06 | ||
| Fwd PE | 18.73 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CNR is on the same level as its industry peers.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of CNR is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 27.6 | ||
| EV/EBITDA | 13.41 |
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)2.81
PEG (5Y)2.67
EPS Next 2Y8.7%
EPS Next 3Y10.11%
5. Dividend
5.1 Amount
- CNR has a Yearly Dividend Yield of 2.43%.
- Compared to an average industry Dividend Yield of 1.60, 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 1.82, CNR pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.43% |
5.2 History
- On average, the dividend of CNR grows each year by 9.13%, which is quite nice.
- CNR has paid a dividend for at least 10 years, which is a reliable track record.
- CNR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.13%
Div Incr Years28
Div Non Decr Years28
5.3 Sustainability
- 46.78% of the earnings are spent on dividend by CNR. This is a bit on the high side, but may be sustainable.
- The dividend of CNR is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP46.78%
EPS Next 2Y8.7%
EPS Next 3Y10.11%
TSX:CNR (2/27/2026, 7:00:00 PM)
153.07
+2.21 (+1.46%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)01-30 2026-01-30/dmh
Earnings (Next)04-29 2026-04-29/amc
Inst Owners73.16%
Inst Owner ChangeN/A
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap93.59B
Revenue(TTM)17.30B
Net Income(TTM)4.72B
Analysts72.86
Price Target158.81 (3.75%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.43% |
Yearly Dividend3.56
Dividend Growth(5Y)9.13%
DP46.78%
Div Incr Years28
Div Non Decr Years28
Ex-Date03-10 2026-03-10 (0.915)
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)-1.46%
PT rev (3m)-0.29%
EPS NQ rev (1m)-4.12%
EPS NQ rev (3m)-5.2%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.84%
Revenue NQ rev (1m)-3.35%
Revenue NQ rev (3m)-5.29%
Revenue NY rev (1m)-1.8%
Revenue NY rev (3m)-1.97%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.06 | ||
| Fwd PE | 18.73 | ||
| P/S | 5.41 | ||
| P/FCF | 27.6 | ||
| P/OCF | 13.28 | ||
| P/B | 4.34 | ||
| P/tB | 4.38 | ||
| EV/EBITDA | 13.41 |
EPS(TTM)7.63
EY4.98%
EPS(NY)8.17
Fwd EY5.34%
FCF(TTM)5.55
FCFY3.62%
OCF(TTM)11.53
OCFY7.53%
SpS28.3
BVpS35.28
TBVpS34.92
PEG (NY)2.81
PEG (5Y)2.67
Graham Number77.82
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 2.61 |
F-Score7
WACC9.53%
ROIC/WACC0.95
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 5Y10.3%
Revenue 1Y (TTM)1.51%
Revenue growth 3Y0.38%
Revenue growth 5Y4.6%
Sales Q2Q%2.43%
Revenue Next Year1.88%
Revenue Next 2Y3.43%
Revenue Next 3Y4.01%
Revenue Next 5Y4.76%
EBIT growth 1Y4.14%
EBIT growth 3Y-1.25%
EBIT growth 5Y4.59%
EBIT Next Year35.09%
EBIT Next 3Y14.62%
EBIT Next 5Y12.3%
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 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.
How profitable is CANADIAN NATL RAILWAY CO (CNR.CA) stock?
CANADIAN NATL RAILWAY CO (CNR.CA) has a profitability rating of 8 / 10.
Can you provide the expected EPS growth for CNR stock?
The Earnings per Share (EPS) of CANADIAN NATL RAILWAY CO (CNR.CA) is expected to grow by 7.13% in the next year.
Is the dividend of CANADIAN NATL RAILWAY CO sustainable?
The dividend rating of CANADIAN NATL RAILWAY CO (CNR.CA) is 7 / 10 and the dividend payout ratio is 46.78%.