Norfolk Southern (HAM:NFS) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Norfolk Southern Forward PE Ratio Related Terms
Norfolk Southern Forward PE Ratio Historical Data
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The historical data trend for Norfolk Southern's Forward PE Ratio 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.
Norfolk Southern Forward PE Ratio Chart
Norfolk Southern Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
15.27
17.42
20.53
14.49
17.04
20.58
21.19
17.09
18.15
17.64
22.01
Norfolk Southern Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
15.27
13.61
15.36
15.34
17.42
18.55
19.05
18.98
20.53
15.46
17.15
18.05
14.49
17.89
18.15
15.36
17.04
13.55
19.84
20.08
20.58
23.98
23.15
18.18
21.19
20.16
15.97
14.16
17.09
15.24
17.24
14.18
18.15
21.37
17.67
18.21
17.64
16.99
19.44
20.93
22.01
23.95
HAM:NFS vs CSX, WAB, TRN: Forward PE Ratio Comparison
For the Railroads subindustry, Norfolk Southern's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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 Forward PE Ratio vs Transportation Industry
For the Transportation industry and Industrials sector, Norfolk Southern's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Norfolk Southern's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Norfolk Southern (HAM:NFS) has a Forward PE Ratio of 26.28 as of Jul. 11, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Norfolk Southern and its competitors. According to the industry distribution chart, Norfolk Southern ranks #403 out of 490 companies in the Transportation industry, placing it in the top 82.2%.
Is Norfolk Southern's Forward PE Ratio too high?
Norfolk Southern's current Forward PE Ratio is 26.28. The Transportation industry median Forward PE Ratio is 13.36. Norfolk Southern's value of 26.28 is 96.8% above this industry median. Based on the distribution chart, Norfolk Southern ranks #403 out of 490 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 Forward PE Ratio compare to CSX and WAB?
According to the Transportation industry distribution chart, Norfolk Southern ranks #403 out of 490 companies for Forward PE Ratio. This places Norfolk Southern in the lower half of its industry. The industry median Forward PE Ratio is 13.36. Norfolk Southern's value of 26.28 is 96.8% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Transportation company?
The median Forward PE Ratio among Transportation companies is 13.36, based on 490 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norfolk Southern's current Forward PE Ratio of 26.28 is 96.8% 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Norfolk Southern and its competitors. For the Transportation industry, the median Forward PE Ratio is 13.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norfolk Southern's current Forward PE Ratio is 26.28. 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 (HAM:NFS) is currently considered Modestly Overvalued. The stock's GF Value™ is €220.84, compared to a current price of €285.60 — trading 29.3% above its estimated fair value. The current Forward PE Ratio is 26.28 and 96.8% above the Transportation industry median of 13.36. 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 Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Norfolk Southern (HAM:NFS), the current Forward PE Ratio is 26.28 as of Jul. 11, 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 (HAM:NFS) Overvalued in 2026?
Based on GuruFocus' analysis, Norfolk Southern stock appears to be overvalued.
The current stock price of €285.60 is trading 29.3% above its estimated GF Value™ of €220.84.
GuruFocus considers Norfolk Southern to be Modestly Overvalued.
Key valuation signals for HAM:NFS:
Forward PE Ratio: 26.28
GF Value™: €220.84 vs. price of €285.60 (29.3% above fair value)
Industry Position: 96.8% above the Transportation median (#403 of 490)
No single metric tells the full story. See the HAM: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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Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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