CNI (Canadian National Railway Co) FCF Margin %: 18.86% (As of Mar. 2026) — 12% Below Median


CNI Canadian National Railway Co CNI
91 GF Score
Price $115.91
GF Value $114.56
Valuation Fairly Valued
! 6 Warning Signs
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What is Canadian National Railway Co FCF Margin %?

Canadian National Railway Co CNI +0.88% 91 FCF Margin % is 18.86% as of Mar. 2026, which is 12% below its 10-year median of 21.32. GuruFocus rates CNI with a GF Score™ of 91/100 and a GF Value™ of $114.56 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,006 Transportation companies, Canadian National Railway Co ranks better than 86.18% on this metric.

FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Canadian National Railway Co's Free Cash Flow for the three months ended in Mar. 2026 was $602 Mil. Canadian National Railway Co's Revenue for the three months ended in Mar. 2026 was $3,192 Mil. Therefore, Canadian National Railway Co's FCF Margin % for the quarter that ended in Mar. 2026 was 18.86%.

As of today, Canadian National Railway Co's current FCF Yield % is 3.68%.

The historical rank and industry rank for Canadian National Railway Co's FCF Margin % or its related term are showing as below:

CNI' s FCF Margin % Range Over the Past 10 Years
Min: 13.8   Med: 21.32   Max: 28.18
Current: 20.67


During the past 13 years, the highest FCF Margin % of Canadian National Railway Co was 28.18%. The lowest was 13.80%. And the median was 21.32%.

CNI's FCF Margin % is ranked better than
86.18% of 1006 companies
in the Transportation industry
Industry Median: 4.38 vs CNI: 20.67


Canadian National Railway Co FCF Margin % Related Terms


Canadian National Railway Co FCF Margin % Historical Data

* Premium members only.

The historical data trend for Canadian National Railway Co's FCF Margin % 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.

Canadian National Railway Co FCF Margin % Chart

Canadian National Railway Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
FCF Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 28.18 22.90 22.45 18.48 19.60

Canadian National Railway Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
FCF Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 14.65 22.00 19.40 22.36 18.86

CNI vs UNP, CSX, NSC: FCF Margin % Comparison

For the Railroads subindustry, Canadian National Railway Co's FCF Margin %, along with its competitors' market caps and FCF Margin % 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.


Canadian National Railway Co FCF Margin % vs Transportation Industry

For the Transportation industry and Industrials sector, Canadian National Railway Co's FCF Margin % distribution charts can be found below:

* The bar in red indicates where Canadian National Railway Co's FCF Margin % falls into.


CNI
91GF Score
Canadian National Railway Co CNI
FCF Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Canadian National Railway Co FCF Margin % Calculation

FCF margin is the ratio of Free Cash Flow divided by net sales or Revenue, usually presented in percent.

Canadian National Railway Co's FCF Margin for the fiscal year that ended in Dec. 2025 is calculated as

FCF Margin=Free Cash Flow (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=2458.137/12543.675
=19.60 %

Canadian National Railway Co's FCF Margin for the quarter that ended in Mar. 2026 is calculated as

FCF Margin=Free Cash Flow (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=602.041/3191.691
=18.86 %

* 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.

Frequently Asked Questions Learn more about FCF Margin % →
What does a FCF Margin % of 18.86% mean?
Canadian National Railway Co (CNI) has a FCF Margin % of 18.86% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Canadian National Railway Co and its competitors. This is 12% below median its historical median of 21.32. Over the past decade, Canadian National Railway Co's FCF Margin % has ranged from 13.80 to 28.18. According to the industry distribution chart, Canadian National Railway Co ranks #139 out of 1006 companies in the Transportation industry, placing it in the top 13.8%.
Is Canadian National Railway Co's FCF Margin % too high?
Canadian National Railway Co's current FCF Margin % of 18.86% is 12% below median its 10-year median of 21.32. Over the past 10 years, this metric has ranged from a low of 13.80 to a high of 28.18. The Transportation industry median FCF Margin % is 4.38. Canadian National Railway Co's value of 18.86% is 330.6% above this industry median. Based on the distribution chart, Canadian National Railway Co ranks #139 out of 1006 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Canadian National Railway Co has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Canadian National Railway Co's FCF Margin % compare to UNP and CSX?
According to the Transportation industry distribution chart, Canadian National Railway Co ranks #139 out of 1006 companies for FCF Margin %. This places Canadian National Railway Co in the top 14% of its industry — outperforming the majority of peers. The industry median FCF Margin % is 4.38. Canadian National Railway Co's value of 18.86% is 330.6% above this benchmark. Historically, Canadian National Railway Co's own FCF Margin % has ranged from 13.80 to 28.18 over the past decade. While the company's 10-year median is 21.32 vs. the industry median of 4.38, Canadian National Railway Co 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 FCF Margin % for a Transportation company?
The median FCF Margin % among Transportation companies is 4.38, based on 1,006 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian National Railway Co's current FCF Margin % of 18.86% is 330.6% 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 FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Canadian National Railway Co and its competitors. For the Transportation industry, the median FCF Margin % is 4.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian National Railway Co's current FCF Margin % is 18.86%, which is 12% below median its own 10-year median of 21.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Canadian National Railway Co stock overvalued right now?
Based on GuruFocus' analysis, Canadian National Railway Co (CNI) is currently considered Fairly Valued. The stock's GF Value™ is $114.56, compared to a current price of $115.91 — trading 1.2% above its estimated fair value. The current FCF Margin % is 18.86%, which is 12% below median its 10-year median of 21.32 and 330.6% above the Transportation industry median of 4.38. Canadian National Railway Co's overall GF Score™ is 91/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Canadian National Railway Co (CNI), the current FCF Margin % is 18.86% as of Mar. 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 Canadian National Railway Co (CNI) Overvalued in 2026?

Based on GuruFocus' analysis, Canadian National Railway Co stock appears to be overvalued. The current stock price of $115.91 is trading 1.2% above its estimated GF Value™ of $114.56. GuruFocus considers Canadian National Railway Co to be Fairly Valued.

Key valuation signals for CNI:

  • FCF Margin %: 18.86% (12% below median its 10-year median of 21.32)
  • GF Value™: $114.56 vs. price of $115.91 (1.2% above fair value)
  • GF Score™: 91/100 with 6 warning signs
  • Industry Position: 330.6% above the Transportation median (#139 of 1006)

No single metric tells the full story. See the CNI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Canadian National Railway Co Business Description

Address 935 de La Gauchetiere Street West, Montreal, QC, CAN, H3B 2M9
Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2025, CN generated CAD 17.7 billion in revenue by hauling intermodal containers (22% of consolidated revenue), petroleum and chemicals (21%), grain and fertilizers (23%), forest products (10%), metals and minerals (11%), automotive shipments (5%), and coal (5%). Other items constitute the remaining revenue.
91GF Score

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FCF Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$115.91
Price
$114.56
GF Value