Canadian National Railway CoCNI +0.17%90 Pretax Margin % is 34.73% as of Mar. 2026, which is 10% below its 10-year median of 38.79. GuruFocus rates CNI with a GF Score™ of 90/100 and a GF Value™ of $113.15 (Fairly Valued). The stock has 8 warning signs investors should review. Among 997 Transportation companies, Canadian National Railway Co ranks better than 91.88% on this metric.
The historical rank and industry rank for Canadian National Railway Co's Pretax Margin % or its related term are showing as below:
CNI'
s Pretax Margin % Range Over the Past 10 Years
Min: 32.72 Med: 38.79 Max: 43.81
Current: 36.22
CNI's Pretax Margin % is ranked better than 91.88% of 997
companies
in the Transportation industry
Industry Median: 6.77
vs CNI: 36.22
Canadian National Railway Co (NYSE:CNI) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Canadian National Railway Co Pretax Margin % Related Terms
Canadian National Railway Co Pretax Margin % 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.
Canadian National Railway Co Pretax Margin % Chart
For the Railroads subindustry, Canadian National Railway Co's Pretax Margin %, along with its competitors' market caps and Pretax 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 Pretax Margin % vs Transportation Industry
For the Transportation industry and Industrials sector, Canadian National Railway Co's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Canadian National Railway Co's Pretax Margin % 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.
Canadian National Railway Co (CNI) has a Pretax Margin % of 34.73% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Canadian National Railway Co and its competitors. This is 10% below median its historical median of 38.79. Over the past decade, Canadian National Railway Co's Pretax Margin % has ranged from 32.72 to 43.81. According to the industry distribution chart, Canadian National Railway Co ranks #81 out of 997 companies in the Transportation industry, placing it in the top 8.1%.
Is Canadian National Railway Co's Pretax Margin % too high?
Canadian National Railway Co's current Pretax Margin % of 34.73% is 10% below median its 10-year median of 38.79. Over the past 10 years, this metric has ranged from a low of 32.72 to a high of 43.81. The Transportation industry median Pretax Margin % is 6.77. Canadian National Railway Co's value of 34.73% is 413% above this industry median. Based on the distribution chart, Canadian National Railway Co ranks #81 out of 997 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 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Canadian National Railway Co's Pretax Margin % compare to UNP and CSX?
According to the Transportation industry distribution chart, Canadian National Railway Co ranks #81 out of 997 companies for Pretax Margin %. This places Canadian National Railway Co in the top 8% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 6.77. Canadian National Railway Co's value of 34.73% is 413% above this benchmark. Historically, Canadian National Railway Co's own Pretax Margin % has ranged from 32.72 to 43.81 over the past decade. While the company's 10-year median is 38.79 vs. the industry median of 6.77, 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 Pretax Margin % for a Transportation company?
The median Pretax Margin % among Transportation companies is 6.77, based on 997 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Canadian National Railway Co's current Pretax Margin % of 34.73% is 413% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Canadian National Railway Co and its competitors. For the Transportation industry, the median Pretax Margin % is 6.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian National Railway Co's current Pretax Margin % is 34.73%, which is 10% below median its own 10-year median of 38.79. 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 $113.15, compared to a current price of $120.56 — trading 6.5% above its estimated fair value. The current Pretax Margin % is 34.73%, which is 10% below median its 10-year median of 38.79 and 413% above the Transportation industry median of 6.77. Canadian National Railway Co's overall GF Score™ is 90/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Canadian National Railway Co (CNI), the current Pretax Margin % is 34.73% 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 $120.56 is trading 6.5% above its estimated GF Value™ of $113.15.
GuruFocus considers Canadian National Railway Co to be Fairly Valued.
Key valuation signals for CNI:
Pretax Margin %: 34.73% (10% below median its 10-year median of 38.79)
GF Value™: $113.15 vs. price of $120.56 (6.5% above fair value)
Industry Position: 413% above the Transportation median (#81 of 997)
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.
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