Norfolk SouthernMEX:NSC 84 Piotroski F-Score is 6 as of Jun. 24, 2026, which is at its 10-year median of 6.00. GuruFocus rates MEX:NSC with a GF Score™ of 84/100 and a GF Value™ of MXN4,464.90. The stock has 10 warning signs investors should review. Among 980 Transportation companies, Norfolk Southern ranks better than 72.24% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Norfolk Southern has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Norfolk Southern's Piotroski F-Score or its related term are showing as below:
MEX:NSC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of Norfolk Southern was 8. The lowest was 4. And the median was 6.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Norfolk Southern Piotroski F-Score Related Terms
Norfolk Southern Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Norfolk Southern's Piotroski F-Score 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.
MEX:NSC vs CSX, WAB, TRN: Piotroski F-Score Comparison
For the Railroads subindustry, Norfolk Southern's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Norfolk Southern's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Norfolk Southern's Piotroski F-Score falls into.
* 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 14460.826 + 13042.726 + 11595.671 + 9863.887 = MXN48,963 Mil. Cash Flow from Operations was 20279.048 + 23315.478 + 19140.059 + 6203.249 = MXN68,938 Mil. Revenue was 58558.812 + 56922.053 + 53548.952 + 54062.035 = MXN223,092 Mil. Gross Profit was 23254.062 + 21224.239 + 17447.523 + 18645.812 = MXN80,572 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(896069.161 + 831403.326 + 817784.436 + 814505.846 + 813509.196) / 5 = MXN834654.393 Mil. Total Assets at the begining of this year (Mar25) was MXN896,069 Mil. Long-Term Debt & Capital Lease Obligation was MXN297,395 Mil. Total Current Assets was MXN54,531 Mil. Total Current Liabilities was MXN60,139 Mil.
Net Income was 13501.916 + 21639.64 + 15287.228 + 15343.65 = MXN65,772 Mil.
Revenue was 55766.394 + 60075.105 + 63067.637 + 61231.393 = MXN240,141 Mil. Gross Profit was 20958.198 + 23884.334 + 24296.89 + 21808.441 = MXN90,948 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(699167.031 + 779666.944 + 851703.927 + 911018.687 + 896069.161) / 5 = MXN827525.15 Mil. Total Assets at the begining of last year (Mar24) was MXN699,167 Mil. Long-Term Debt & Capital Lease Obligation was MXN340,834 Mil. Total Current Assets was MXN55,258 Mil. Total Current Liabilities was MXN70,581 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Norfolk Southern's current Net Income (TTM) was 48,963.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Norfolk Southern's return on assets of this year was 0.05464211. Norfolk Southern's return on assets of last year was 0.09407256.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Norfolk Southern's gearing of this year was 0.3563095. Norfolk Southern's gearing of last year was 0.411871.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Norfolk Southern's current ratio of this year was 0.90674662. Norfolk Southern's current ratio of last year was 0.78289855.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Norfolk Southern's number of shares in issue this year was 225. Norfolk Southern's number of shares in issue last year was 226.5.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Norfolk Southern's gross margin of this year was 0.36115903. Norfolk Southern's gross margin of last year was 0.37872767.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Norfolk Southern's asset turnover of this year was 0.24896722. Norfolk Southern's asset turnover of last year was 0.34346661.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Norfolk Southern has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Norfolk Southern (MEX:NSC) has a Piotroski F-Score of 6 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Norfolk Southern and its competitors. This is near median its historical median of 6.00. Over the past decade, Norfolk Southern's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Norfolk Southern ranks #272 out of 980 companies in the Transportation industry, placing it in the top 27.8%.
Is Norfolk Southern's Piotroski F-Score too high?
Norfolk Southern's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Transportation industry median Piotroski F-Score is 6.00. Norfolk Southern's value of 6 is 0% at this industry median. Based on the distribution chart, Norfolk Southern ranks #272 out of 980 companies in the Transportation industry, which is above the industry midpoint. Overall, Norfolk Southern has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does Norfolk Southern's Piotroski F-Score compare to CSX and WAB?
According to the Transportation industry distribution chart, Norfolk Southern ranks #272 out of 980 companies for Piotroski F-Score. This puts Norfolk Southern in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Norfolk Southern's value of 6 is 0% at this benchmark. Historically, Norfolk Southern's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Norfolk Southern has consistently been at 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 Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 980 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norfolk Southern's current Piotroski F-Score of 6 is 0% at 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Norfolk Southern and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norfolk Southern's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. 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?
Norfolk Southern (MEX:NSC) has a current Piotroski F-Score of 6. The stock's GF Value™ is MXN4,464.90, compared to a current price of MXN5,332.88 — trading 19.4% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 0% at the Transportation industry median of 6.00. Norfolk Southern's overall GF Score™ is 84/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Norfolk Southern (MEX:NSC), the current Piotroski F-Score is 6 as of Jun. 24, 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 (MEX:NSC) Overvalued in 2026?
Based on GuruFocus' analysis, Norfolk Southern stock appears to be overvalued.
The current stock price of MXN5,332.88 is trading 19.4% above its estimated GF Value™ of MXN4,464.90.
Key valuation signals for MEX:NSC:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: MXN4,464.90 vs. price of MXN5,332.88 (19.4% above fair value)
Industry Position: 0% at the Transportation median (#272 of 980)
No single metric tells the full story. See the MEX:NSC 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.
84GF Score
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