# CSX Corporation (CSX) — Stock CV

CSX Corporation is a $87.7B industrial company. Revenue grew 2.5% over the last year, it keeps 22¢ of every dollar of sales as profit, and its net debt equals ~6.7 years of free cash flow. It trades at 27.2× earnings — near the highest of its own history.

> Operating in the Eastern United States, Class I railroad CSX generated revenue of nearly $14 billion in 2025.

## Identity

- **Ticker**: CSX
- **Sector**: Industrials
- **Industry**: Railroads, Line-Haul Operating
- **Headquarters**: JACKSONVILLE, FL
- **Employees**: 22 200
- **Website**: https://www.csx.com
- **Market cap**: $87.7B
- **Last price**: $47.34
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $14.5B
- **Net income**: $3.22B
- **Free cash flow**: $2.80B
- **Net debt**: $18.9B
- **P/E**: 27.2
- **Revenue growth (YoY)**: 2.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 36 |
| Growth | 38 |
| Profitability | 82 |
| Health | 29 |
| Quality | 77 |
| Moat | 90 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +2.5% YoY
- [x] Profitable — $3.22B TTM
- [ ] Profit growing — -7.5% YoY
- [x] Generates cash — $2.80B TTM
- [ ] Debt under control — ~6.7y of cash flow to repay
- [x] Established company — $87.7B market cap
- [x] Not printing shares — -18.7% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 24/100
- [x] Pays a dividend — yield 1.15%
- [x] Valuation not extreme — P/E 27.2

## Experience (career milestones)

- **FY2017** — Best year on record: $5.47B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $11.1B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2008** — The company introduced its current slogan, "How Tomorrow Moves", in 2008
- **2003** — Previously based in Richmond, Virginia after the merger, the corporation moved its headquarters to Jacksonville,…
- **1986** — The various railroads of the former Chessie System and Seaboard Coast Line Industries that are now owned by CSX…
- **1980** — The company was established in 1980 as part of the Chessie System and Seaboard Coast Line Industries merger
- **Nov 14, 1978** — CSX Corporation was organized on November 14, 1978, as a vehicle for the future merger of Chessie System and…

## Strengths

- High gross margin (71.5%)
- Strongly profitable — 22.2% net margin
- Strong cash conversion — FCF is 19.3% of revenue
- Interest covered 5.7× by operating earnings

## Watch-outs

- Net debt equals ~6.7 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $12.5B | $3.78B | $3.31B |
| FY2022 | $14.9B | $4.17B | $3.49B |
| FY2023 | $14.7B | $3.71B | $3.27B |
| FY2024 | $14.5B | $3.47B | $2.72B |
| FY2025 | $14.1B | $2.89B | $1.71B |

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Source: https://stockcv.com/CSX — derived from company filings; may be delayed or incomplete. Information, not investment advice.