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Norfolk SouthernFRA:NFS +0.51%83 EV-to-OCF is 24.52 as of Jul. 22, 2026, which is 45% above its 10-year median of 16.95. GuruFocus rates FRA:NFS with a GF Score™ of 83/100 and a GF Value™ of €228.49 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 1,008 Transportation companies, Norfolk Southern ranks worse than 87.9% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Norfolk Southern's Enterprise Value is €78,996 Mil.
Norfolk Southern's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was €3,222 Mil. Therefore, Norfolk Southern's EV-to-OCF for today is 24.52.
The historical rank and industry rank for Norfolk Southern's EV-to-OCF or its related term are showing as below:
FRA:NFS'
s EV-to-OCF Range Over the Past 10 Years
Min: 11.44 Med: 16.95 Max: 25.83
Current: 24.01
During the past 13 years, the highest EV-to-OCF of Norfolk Southern was 25.83. The lowest was 11.44. And the median was 16.95.
FRA:NFS's EV-to-OCF is ranked worse than 87.9% of 1008
companies
in the Transportation industry
Industry Median: 7.89
vs FRA:NFS: 24.01
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Norfolk Southern's PE Ratio (TTM) for today is calculated as:
Norfolk Southern's share price for today is €294.90.
Norfolk Southern's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €10.201.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Norfolk Southern EV-to-OCF Related Terms
Norfolk Southern EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Norfolk Southern's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Railroads subindustry, Norfolk Southern's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Norfolk Southern EV-to-OCF vs Transportation Industry
For the Transportation industry and Industrials sector, Norfolk Southern's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Norfolk Southern's EV-to-OCF falls into.
Norfolk Southern's current Enterprise Value is €78,996 Mil.
Norfolk Southern's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €3,222 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Norfolk Southern (FRA:NFS) has a EV-to-OCF of 24.52 as of Jul. 22, 2026. This is 45% above median its historical median of 16.95. Over the past decade, Norfolk Southern's EV-to-OCF has ranged from 11.44 to 25.83. According to the industry distribution chart, Norfolk Southern ranks #886 out of 1008 companies in the Transportation industry, placing it in the top 87.9%.
Is Norfolk Southern's EV-to-OCF too high?
Norfolk Southern's current EV-to-OCF of 24.52 is 45% above median its 10-year median of 16.95. Over the past 10 years, this metric has ranged from a low of 11.44 to a high of 25.83. The Transportation industry median EV-to-OCF is 7.89. Norfolk Southern's value of 24.52 is 210.8% above this industry median. Based on the distribution chart, Norfolk Southern ranks #886 out of 1008 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Norfolk Southern has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Norfolk Southern's EV-to-OCF compare to CSX and WAB?
According to the Transportation industry distribution chart, Norfolk Southern ranks #886 out of 1008 companies for EV-to-OCF. This places Norfolk Southern in the lower half of its industry. The industry median EV-to-OCF is 7.89. Norfolk Southern's value of 24.52 is 210.8% above this benchmark. Historically, Norfolk Southern's own EV-to-OCF has ranged from 11.44 to 25.83 over the past decade. While the company's 10-year median is 16.95 vs. the industry median of 7.89, Norfolk Southern has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Transportation company?
The median EV-to-OCF among Transportation companies is 7.89, based on 1,008 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norfolk Southern's current EV-to-OCF of 24.52 is 210.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median EV-to-OCF is 7.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norfolk Southern's current EV-to-OCF is 24.52, which is 45% above median its own 10-year median of 16.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norfolk Southern stock overvalued right now?
Based on GuruFocus' analysis, Norfolk Southern (FRA:NFS) is currently considered Modestly Overvalued. The stock's GF Value™ is €228.49, compared to a current price of €294.90 — trading 29.1% above its estimated fair value. The current EV-to-OCF is 24.52, which is 45% above median its 10-year median of 16.95 and 210.8% above the Transportation industry median of 7.89. Norfolk Southern's overall GF Score™ is 83/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Norfolk Southern (FRA:NFS), the current EV-to-OCF is 24.52 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Norfolk Southern (FRA:NFS) Overvalued in 2026?
Based on GuruFocus' analysis, Norfolk Southern stock appears to be overvalued.
The current stock price of €294.90 is trading 29.1% above its estimated GF Value™ of €228.49.
GuruFocus considers Norfolk Southern to be Modestly Overvalued.
Key valuation signals for FRA:NFS:
EV-to-OCF: 24.52 (45% above median its 10-year median of 16.95)
GF Value™: €228.49 vs. price of €294.90 (29.1% above fair value)
Industry Position: 210.8% above the Transportation median (#886 of 1008)
No single metric tells the full story. See the FRA:NFS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Class I railroad Norfolk Southern operates in the Eastern United States. On more than 20,000 miles of track, the rail hauls shipments of coal, intermodal traffic, and a diverse mix of automotive, agricultural, metal, chemical, and forest products.
83GF Score
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