The historical rank and industry rank for Canadian National Railway Co's PB Ratio or its related term are showing as below:
CNI'
s PB Ratio Range Over the Past 10 Years
Min: 3.7 Med: 4.85 Max: 5.73
Current: 4.67
During the past 13 years, Canadian National Railway Co's highest PB Ratio was 5.73. The lowest was 3.70. And the median was 4.85.
CNI's PB Ratio is ranked worse than 90.53% of 971
companies
in the Transportation industry
Industry Median: 1.25
vs CNI: 4.67
During the past 12 months, Canadian National Railway Co's average Book Value Per Share Growth Rate was 2.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 3.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 6.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Canadian National Railway Co was 24.40% per year. The lowest was 1.10% per year. And the median was 8.60% per year.
Back to Basics: PB Ratio
Canadian National Railway Co (NYSE:CNI) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Canadian National Railway Co PB Ratio Related Terms
Canadian National Railway Co PB Ratio Historical Data
* 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, Canadian National Railway Co's PB Ratio, along with its competitors' market caps and PB 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.
Canadian National Railway Co PB Ratio vs Transportation Industry
For the Transportation industry and Industrials sector, Canadian National Railway Co's PB Ratio distribution charts can be found below:
* The bar in red indicates where Canadian National Railway Co's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Canadian National Railway Co (CNI) has a PB Ratio of 4.50 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Canadian National Railway Co and its competitors. This is near median its historical median of 4.85. Over the past decade, Canadian National Railway Co's PB Ratio has ranged from 3.70 to 5.73. According to the industry distribution chart, Canadian National Railway Co ranks #879 out of 971 companies in the Transportation industry, placing it in the top 90.5%.
Is Canadian National Railway Co's PB Ratio too high?
Canadian National Railway Co's current PB Ratio of 4.50 is near median its 10-year median of 4.85. Over the past 10 years, this metric has ranged from a low of 3.70 to a high of 5.73. The Transportation industry median PB Ratio is 1.25. Canadian National Railway Co's value of 4.50 is 260% above this industry median. Based on the distribution chart, Canadian National Railway Co ranks #879 out of 971 companies in the Transportation industry, which is in the bottom quartile 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 PB Ratio compare to UNP and CSX?
According to the Transportation industry distribution chart, Canadian National Railway Co ranks #879 out of 971 companies for PB Ratio. This places Canadian National Railway Co in the lower half of its industry. The industry median PB Ratio is 1.25. Canadian National Railway Co's value of 4.50 is 260% above this benchmark. Historically, Canadian National Railway Co's own PB Ratio has ranged from 3.70 to 5.73 over the past decade. While the company's 10-year median is 4.85 vs. the industry median of 1.25, 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 PB Ratio for a Transportation company?
The median PB Ratio among Transportation companies is 1.25, based on 971 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian National Railway Co's current PB Ratio of 4.50 is 260% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Canadian National Railway Co and its competitors. For the Transportation industry, the median PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian National Railway Co's current PB Ratio is 4.50, which is near median its own 10-year median of 4.85. 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 PB Ratio is 4.50, which is near median its 10-year median of 4.85 and 260% above the Transportation industry median of 1.25. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Canadian National Railway Co (CNI), the current PB Ratio is 4.50 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 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:
PB Ratio: 4.50 (near median its 10-year median of 4.85)
GF Value™: $114.56 vs. price of $115.91 (1.2% above fair value)
Industry Position: 260% above the Transportation median (#879 of 971)
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'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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