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Canadian National Railway CompanyNYSE:CNI Stock Report

Market Cap US$74.5b
Share Price
n/a
1Y17.3%
7D2.3%
1D1.4%
Portfolio Value
​
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Canadian National Railway Company

NYSE:CNI Stock Report

Market Cap: US$74.5b

Canadian National Railway (CNI) Stock Overview

Engages in the rail, intermodal, trucking, and related transportation businesses in Canada and the United States. More details

CNI fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance5/6
Financial Health2/6
Dividends5/6

Rewards

Price-To-Earnings ratio (22.7x) is below the Transportation industry average (41.5x)

Earnings are forecast to grow 5.74% per year

Earnings grew by 4.4% over the past year

Pays a reliable dividend of 2.08%

Trading at good value compared to peers and industry

Risk Analysis

Has a high level of debt


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Canadian National Railway Company Competitors

Price History & Performance

Summary of share price highs, lows and changes for Canadian National Railway
Historical stock prices
Current Share PriceCA$124.34
52 Week HighCA$125.04
52 Week LowCA$90.74
Beta1
1 Month Change3.35%
3 Month Change12.94%
1 Year Change17.27%
3 Year Change4.83%
5 Year Change18.28%
Change since IPO3,974.05%

Recent News & Updates

Seeking Alpha • Jun 12

Canadian National Railway: Better Operations, But The Stock Has Already Moved

Summary Canadian National Railway demonstrates improved operational efficiency, strong free cash flow, and strategic resource-export positioning, but trades at a fair valuation after a significant rally. CNI's Q1 showed operational gains—faster cars, longer trains, better network fluidity—yet revenue and adjusted EPS declined, highlighting a disconnect between execution and financial results. Resource exports, especially grain and energy, underpin CNI’s long-term growth, with key projects like ACE and Prince Rupert offering upside, but 2026 guidance remains modest. I rate CNI a hold: quality operations and network, but the current price reflects much of the operational improvement, leaving limited near-term upside. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Jun 12

Canadian National Railway: Better Operations, But The Stock Has Already Moved

Summary Canadian National Railway demonstrates improved operational efficiency, strong free cash flow, and strategic resource-export positioning, but trades at a fair valuation after a significant rally. CNI's Q1 showed operational gains—faster cars, longer trains, better network fluidity—yet revenue and adjusted EPS declined, highlighting a disconnect between execution and financial results. Resource exports, especially grain and energy, underpin CNI’s long-term growth, with key projects like ACE and Prince Rupert offering upside, but 2026 guidance remains modest. I rate CNI a hold: quality operations and network, but the current price reflects much of the operational improvement, leaving limited near-term upside. Read the full article on Seeking Alpha
Seeking Alpha • Mar 02

Canadian National Railway Company: No Margin Of Safety Despite Supposedly Attractive Valuation

Summary Canadian National Railway shares are trading 20% below their all-time high, with a 2.48% dividend yield, making them attractive for dividend growth investors. Despite temporary issues like weak quarterly figures and US-Canada trade tensions, long-term growth prospects remain strong, but short-term downside risks persist. The stock lacks a margin of safety at its current valuation, with an adjusted P/E ratio of 20.3, making it overvalued given its modest growth. The latest dividend increase was below the long-term average, reducing its appeal for dividend growth investors. Read the full article on Seeking Alpha
Seeking Alpha • Jan 27

The Wide-Moat Express: Why Canadian National Is On Track For Unbeatable Value

Summary Canadian National Railway Company offers a wide moat, consistent dividend growth, and strategic investments, making it a strong pick amid economic uncertainty and tech stock headwinds. CNI's critical North American network, with 85% of traffic originating on its system, provides strong pricing power in key markets like grain and energy. Despite labor disputes and economic sensitivity, improving manufacturing surveys and economic indicators suggest a cyclical recovery, positioning Canadian National for strong returns. Trading below its 10-year average P/E ratio, CNI offers an attractive entry point with potential for 14-16% annual returns, especially if upcoming earnings confirm strength. Read the full article on Seeking Alpha
Seeking Alpha • Dec 30

I Bought More Canadian National As 2024 Closes

Summary Canadian National Railway's stock dip presents a long-term buying opportunity, despite a 19% drop in New York due to currency risks and tariff concerns. Railroads, including CNI, are capital-intensive but can yield strong returns through efficiency, fuel-efficiency, and cash returns via buybacks and dividends. Canadian National's Q3 showed mixed results with a slight EPS beat and revenue growth, but challenges in intermodal and automotive sectors impacted performance. Despite short-term headwinds, Canadian National's strong balance sheet, positive traffic trends, and long-term freight transportation importance make it a compelling investment. Read the full article on Seeking Alpha
Seeking Alpha • Dec 20

Canadian National Railway: Total Yield And Valuation Make It A Buy For 2025

Summary I have upgraded Canadian National Railway to a Buy based on its attractive valuation and total yield potential. The company boasts a unique rail network spanning three coasts, has demonstrated strong operational efficiency, and has optimistic growth prospects tied to targeted infrastructure investments. For income- and defensive-minded investors, it offers the highest 5-year dividend CAGR, longest growth streak, and most competitive forward yield among peers, making it an attractive buy-and-hold option. Read the full article on Seeking Alpha
Seeking Alpha • Oct 23

Dividends On Track: Why I'm Bullish On Canadian National's Long-Term Potential

Summary Canadian National Railway Company demonstrates operational resilience, maintaining strong service levels despite labor strikes and wildfires, supporting its status as a reliable dividend growth stock. Canadian National's strategic network and critical supply chain role provide a wide moat, ensuring long-term growth opportunities, especially in international intermodal and grain demand. Despite cyclical headwinds and paused buybacks, CNI's strong balance sheet and consistent dividend growth make it a compelling pick for dividend investors. Read the full article on Seeking Alpha
Seeking Alpha • Aug 28

Canadian National: When The Train Slows Down, It's Time To Seize The Opportunity

Summary Canadian National Railway has been trending lower for some months due to labor disputes. In the meantime, rail traffic data paints a promising picture for Canadian National's business. In this article, I update my research on the company, explaining why I remain bullish despite temporary headwinds. Read the full article on Seeking Alpha
Seeking Alpha • Aug 18

Canadian National Railway: Strong Fundamentals Amid Short-Term Challenges

Summary Canadian National Railway is a core holding in my portfolio, with strong growth prospects in the railroad industry. Despite a recent share price dip, the company continues to deliver consistent financial performance and shareholder returns. Q2 results show revenue growth, with potential disruptions and labor issues impacting short-term guidance, but long-term prospects remain strong. Read the full article on Seeking Alpha
Seeking Alpha • Jul 24

Off The Rails? Not Quite. Buying Canadian National On Weakness

Summary Canadian National Railway Company reported a 7% increase in 2Q24 revenues, supported by pricing, volumes, and exchange rates. Labor uncertainties and operational disruptions led to a revision of full-year EPS growth guidance for CNI. Despite challenges, CNI remains an attractive investment with a strong dividend yield, buyback record, and promising growth projections. Read the full article on Seeking Alpha
Seeking Alpha • Jul 14

Canadian National Railway: My Top Railroad For Dividend Growth Investors

Summary I compare the major railroad companies from the perspective of a dividend-focused investor. The “big five” are highly correlated by many growth and profitability metrics, but not all. Canadian National outshines the others with its efficiency and consistent performance. Read the full article on Seeking Alpha
Seeking Alpha • Jul 02

Canadian National: Easing Comps, Growth Initiatives And Reasonable Valuation

Summary Canadian National Railway Company is expected to see growth acceleration, with revenue benefiting from easing Y/Y comparisons and company-specific initiatives. Margins to benefit from operating leverage, network optimization, and pricing increases offsetting wage inflation. Stock trading discounted to historical averages, with potential for re-rating as volume recovers and wage negotiations complete. Read the full article on Seeking Alpha
Seeking Alpha • Apr 29

Canadian National: Where Dividend Investors Go For Income And Growth

Summary Canadian National Railway is a dividend growth stock with a history of consistent dividend hikes. The company faced challenges in the first quarter, including weak demand in certain sectors and margin pressures from inflation. CNI remains resilient through its diversified revenue streams, strategic investments, and commitment to shareholder value. Read the full article on Seeking Alpha
Seeking Alpha • Mar 14

Canadian National Railway: Dividend Increases, Transformation, And M&A Imply Undervaluation

Summary Canadian National Railway Company reported better-than-expected earnings, increased its dividend, and made meaningful acquisitions. The company's focus on long-term agreements and its transformation efforts are expected to drive future free cash flow growth. The actions of activists in the industry may enhance the valuation of CNI and lead to an increase in the stock price. Read the full article on Seeking Alpha
Seeking Alpha • Mar 02

Canadian National Is My Top Pick Among Class 1 Railroads

Summary Canadian National Railway is a top pick in the rail industry due to macroeconomic trends and its strong financial performance. CNR has a conservative balance sheet and focuses on efficiency, leading to steady dividend growth and high return on invested capital. Despite a challenging year in 2023, CNR's net income increased and the company expects growth in 2024. Read the full article on Seeking Alpha
Seeking Alpha • Jan 24

Canadian National Railway: A Bright Future Ahead

Summary Canadian National Railway shares have risen by 15% since my last article. 2023 was a tough year for railroads, but the future looks bright. CNI expects 10% EPS growth in 2024. Canadian National Railway also raised its dividend by 7%. Read the full article on Seeking Alpha
Seeking Alpha • Dec 19

Canadian National Railway: Better To Wait For The Next Train

Summary CNR is the most competitively-advantaged railroad. An attractive footprint, unique access to some ports and fluidity advantage are few examples of its strength. Current valuations are not attractive enough to be a buyer. Read the full article on Seeking Alpha
Seeking Alpha • Nov 27

Why Canadian National Railway Is The Only Railroad Able To Increase Buybacks

Summary Canadian National Railway Company's Q3 revenues decreased by 12% YoY, but the company expects flat to slightly negative growth going forward. The decrease in revenues was mainly due to lower fuel surcharge revenues resulting from lower fuel prices. Canadian National has the healthiest balance sheet in the industry and has been able to increase its share buyback program. Read the full article on Seeking Alpha
Seeking Alpha • Oct 25

Canadian National Has Entered Buy Zone: Navigating Challenges, Embracing Opportunity

Summary Canadian National Railway Company faced challenges in Q3 2023 due to economic headwinds and temporary disruptions. Despite setbacks, Canadian National Railway remains a stable company with a strong commitment to shareholders, including share buybacks and dividend growth. Canadian National Railway's focus on efficiency, diversified operations, and growth initiatives make it an appealing long-term investment. Read the full article on Seeking Alpha
Seeking Alpha • Oct 13

Canadian National Railway: Why I've Been Buying This Wide Moat Compounder

Summary Over time, I've shifted my stock selection philosophy towards quality over value, focusing on companies with moats that reliably compound their bottom lines. Class-1 railroads, such as Canadian National Railway, are highlighted as having wide competitive moats and predictable growth due to consolidation and high barriers to entry. I've been buying shares of CNI during its recent sell-off, believing that it has the potential to generate a 20% total return CAGR over the next few years. Read the full article on Seeking Alpha
Seeking Alpha • Sep 08

Riding Canadian National Railway

Summary I review my investment in Canadian National Railway and decide not to buy more or sell due to available alternatives. The company's revenue, operating income, and net income have increased, but debt has also increased by nearly 18%. The stock is currently cheaper than when I last purchased, but the analyst community's optimistic forecast and lower dividend yield concern me. Read the full article on Seeking Alpha
Seeking Alpha • Aug 08

Canadian National Railway: Faces Short-Term Challenges But Long-Term Growth Intact

Summary Canadian National Railway reported lower-than-expected financial results for 2Q23, but long-term growth potential remains strong. Short-term challenges include weak intermodal demand and lower Canadian grain yield, but CNR's strengths can counterbalance these challenges. Upside is attractive as long as CNR can grow EPS at mid-single digits for the coming decade. Read the full article on Seeking Alpha
Seeking Alpha • Jul 26

Canadian National: Despite Challenges, This Stock Is A Buy On Weakness

Summary Canadian National Railway reported disappointing 2Q23 results, primarily due to weaker demand for consumer-related products and intermodal shipments, and the impact of wildfires. The company expects the economic recovery to be delayed until 2024, but has reiterated its long-term guidance, projecting at least 10% compounding EPS growth between 2024 and 2026. Despite the challenges, CNI remains a stable company with a strong commitment to shareholders, including an active buyback program and a track record of annual dividend hikes. Read the full article on Seeking Alpha
Seeking Alpha • Jul 06

Boarding Canadian National Railway

Summary I plan to increase my position in Canadian National Railway due to its financial momentum and reasonable share price. The company's financial performance has been strong, with revenue and net income up 16% and 33% respectively, but its capital structure has deteriorated due to high levels of debt. I believe the shares are neither cheap nor expensive compared to its peers, and plan to invest more if the valuation compensates for the risk. Read the full article on Seeking Alpha

Shareholder Returns

CNIUS TransportationUS Market
7D2.3%0.3%-0.4%
1Y17.3%8.8%18.4%

Return vs Industry: CNI exceeded the US Transportation industry which returned 8.8% over the past year.

Return vs Market: CNI underperformed the US Market which returned 18.4% over the past year.

Price Volatility

Is CNI's price volatile compared to industry and market?
CNI volatility
CNI Average Weekly Movement3.4%
Transportation Industry Average Movement6.1%
Market Average Movement7.3%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: CNI has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: CNI's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
191923,541Tracy Robinsonwww.cn.ca

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and related transportation businesses in Canada and the United States. The company provides rail services, which include equipment, customs brokerage, transloading and warehousing, business development, dimensional loads, and private railcar storage, less-than-truckload, and mexico services; intermodal services, such as temperature controlled multimodal, mobile transport trays, port partnerships, transloading and distribution, logistics parks, trucking, and supply chain services. It also offers connecting to rail, short lines, maps and network services.

Canadian National Railway Company Fundamentals Summary

How do Canadian National Railway's earnings and revenue compare to its market cap?
CNI fundamental statistics
Market capUS$74.52b
Earnings (TTM)US$3.32b
Revenue (TTM)US$12.19b
22.7x
P/E Ratio
6.2x
P/S Ratio

Is CNI overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CNI income statement (TTM)
RevenueCA$17.28b
Cost of RevenueCA$7.49b
Gross ProfitCA$9.79b
Other ExpensesCA$5.09b
EarningsCA$4.71b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Jul 24, 2026

Earnings per share (EPS)7.74
Gross Margin56.66%
Net Profit Margin27.23%
Debt/Equity Ratio103.7%

How did CNI perform over the long term?

See historical performance and comparison

Dividends

2.1%
Current Dividend Yield
47%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/09 22:36
End of Day Share Price 2026/07/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Canadian National Railway Company is covered by 44 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Will ChienAccountability Research Corporation
John EadeArgus Research Company
Christopher MurrayATB Cormark