Overview Dividends

(CNI) Canadian National Railway - Ratings and Ratios

Exchange: NYSE • Country: Canada • Currency: USD • Type: Common Stock • ISIN: CA1363751027

Rail, Intermodal, Trucking, Transloading, Logistics

CNI EPS (Earnings per Share)

EPS Growth (3Y CAGR): -4.88%
EPS Trend (3Y Correlation): -19.0%

CNI Revenue

Revenue Growth (3Y CAGR): -14.10%
Revenue Trend (3Y Correlation): -44.6%

Risk via 10d forecast
Volatility	20.1%
Value at Risk 5%th	32.9%

Reward
Sharpe Ratio	-0.55
Alpha Jensen	-24.04

Character
Hurst Exponent	0.584
Beta	0.907

Drawdowns 3y
Max DD	28.69%
Mean DD	12.66%

Description: CNI Canadian National Railway September 26, 2025

Canadian National Railway Company (NYSE:CNI) operates a North-American transportation network that spans Canada and the United States, offering rail, intermodal, trucking, and related logistics services. Its portfolio includes equipment leasing, customs brokerage, transloading, door-to-door freight, temperature-controlled cargo, and specialized services such as flatbed and overweight permits, serving sectors ranging from automotive and grain to chemicals and third-party logistics.

Key performance indicators from the most recent fiscal year show revenue of roughly $16.2 billion and an operating ratio of about 58 percent, indicating efficient cost control relative to peers. Intermodal volumes grew double-digit year-over-year, driven by sustained e-commerce demand and a shift of high-value goods from truck to rail. Meanwhile, coal and fertilizer shipments remain material contributors, exposing CN to commodity price cycles and seasonal weather patterns.

Strategic drivers for the business include continued infrastructure investment-CN has earmarked over $15 billion through 2028 for track upgrades, signal modernization, and capacity expansion in high-traffic corridors such as the Midwest grain belt. Macroeconomic factors such as U.S. agricultural export volumes, North-American oil demand, and cross-border trade policies directly affect freight volumes, while regulatory trends around emissions are prompting CN to expand its low-carbon initiatives.

For a deeper quantitative dive into CN’s valuation metrics and scenario analysis, the ValueRay platform offers a useful toolkit.

CNI Stock Overview

Market Cap in USD	58,171m
Sub-Industry	Rail Transportation
IPO / Inception	1996-11-26
Return 12m vs S&P 500	-22.4%
Analyst Rating	3.69 of 5

CNI Dividends

Dividend Yield	2.56%
Yield on Cost 5y	2.53%
Yield CAGR 5y	9.00%
Payout Consistency	100.0%
Payout Ratio	34.7%

CNI Growth Ratios

CAGR	-5.32%
CAGR/Max DD Calmar Ratio	-0.19
CAGR/Mean DD Pain Ratio	-0.42
Current Volume	995.8k
Average Volume	1329.2k

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (4.30b TTM) > 0 and > 6% of Revenue (6% = 961.4m TTM)

FCFTA 0.06 (>2.0%) and ΔFCFTA -0.59pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -10.37% (prev -9.77%; Δ -0.60pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.12 (>3.0%) and CFO 6.82b > Net Income 4.30b (YES >=105%, WARN >=100%)

Net Debt (20.91b) to EBITDA (8.35b) ratio: 2.50 <= 3.0 (WARN <= 3.5)

Current Ratio 0.60 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (622.4m) change vs 12m ago -1.28% (target <= -2.0% for YES)

Gross Margin 42.16% (prev 41.53%; Δ 0.63pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 28.58% (prev 31.50%; Δ -2.92pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 7.71 (EBITDA TTM 8.35b / Interest Expense TTM 846.0m) >= 6 (WARN >= 3)

Altman Z'' 2.20

(A) -0.03 = (Total Current Assets 2.51b - Total Current Liabilities 4.17b) / Total Assets 57.65b

(B) 0.33 = Retained Earnings (Balance) 18.79b / Total Assets 57.65b

(D) 0.52 = Book Value of Equity 18.79b / Total Liabilities 36.38b

Total Rating: 2.20 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 61.68

1. Piotroski 6.0pt = 1.0

2. FCF Yield 3.35% = 1.68

3. FCF Margin 21.49% = 5.37

4. Debt/Equity 1.00 = 2.02

5. Debt/Ebitda 2.50 = -0.96

6. ROIC - WACC (= 4.15)% = 5.19

7. RoE 20.11% = 1.68

8. Rev. Trend -44.57% = -3.34

9. EPS Trend -19.05% = -0.95

What is the price of CNI shares?

As of November 13, 2025, the stock is trading at USD 97.87 with a total of 995,761 shares traded.
Over the past week, the price has changed by +1.93%, over one month by +1.81%, over three months by +5.05% and over the past year by -10.10%.

Is Canadian National Railway a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Canadian National Railway is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 61.68 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CNI is around 89.62 USD . This means that CNI is currently overvalued and has a potential downside of -8.43%.

Is CNI a buy, sell or hold?

Canadian National Railway has received a consensus analysts rating of 3.69. Therefor, it is recommend to hold CNI.

Strong Buy: 9
Buy: 7
Hold: 14
Sell: 1
Strong Sell: 1

What are the forecasts/targets for the CNI price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	109	11.3%
Analysts Target Price	109	11.3%
ValueRay Target Price	99.1	1.2%

CNI Fundamental Data Overview November 11, 2025

Market Cap CAD = 81.63b (58.17b USD * 1.4032 USD.CAD)
P/E Trailing = 18.0363
P/E Forward = 16.2866
P/S = 3.3824
P/B = 3.8428
P/EG = 2.0481
Beta = 0.907
Revenue TTM = 16.02b CAD
EBIT TTM = 6.52b CAD
EBITDA TTM = 8.35b CAD
Long Term Debt = 19.55b CAD (from longTermDebt, last quarter)
Short Term Debt = 1.57b CAD (from shortLongTermDebt, last quarter)
Debt = 21.37b CAD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 20.91b CAD (from netDebt column, last quarter)
Enterprise Value = 102.78b CAD (81.63b + Debt 21.37b - CCE 214.0m)
Interest Coverage Ratio = 7.71 (Ebit TTM 6.52b / Interest Expense TTM 846.0m)
FCF Yield = 3.35% (FCF TTM 3.44b / Enterprise Value 102.78b)
FCF Margin = 21.49% (FCF TTM 3.44b / Revenue TTM 16.02b)
Net Margin = 26.82% (Net Income TTM 4.30b / Revenue TTM 16.02b)
Gross Margin = 42.16% ((Revenue TTM 16.02b - Cost of Revenue TTM 9.27b) / Revenue TTM)
Gross Margin QoQ = 44.90% (prev 42.77%)
Tobins Q-Ratio = 1.78 (Enterprise Value 102.78b / Total Assets 57.65b)
Interest Expense / Debt = 0.76% (Interest Expense 163.0m / Debt 21.37b)
Taxrate = 24.42% (264.2m / 1.08b)
NOPAT = 4.93b (EBIT 6.52b * (1 - 24.42%))
Current Ratio = 0.60 (Total Current Assets 2.51b / Total Current Liabilities 4.17b)
Debt / Equity = 1.00 (Debt 21.37b / totalStockholderEquity, last quarter 21.27b)
Debt / EBITDA = 2.50 (Net Debt 20.91b / EBITDA 8.35b)
Debt / FCF = 6.07 (Net Debt 20.91b / FCF TTM 3.44b)
Total Stockholder Equity = 21.37b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.45% (Net Income 4.30b / Total Assets 57.65b)
RoE = 20.11% (Net Income TTM 4.30b / Total Stockholder Equity 21.37b)
RoCE = 15.94% (EBIT 6.52b / Capital Employed (Equity 21.37b + L.T.Debt 19.55b))
RoIC = 11.69% (NOPAT 4.93b / Invested Capital 42.18b)
WACC = 7.54% (E(81.63b)/V(103.00b) * Re(9.36%) + D(21.37b)/V(103.00b) * Rd(0.76%) * (1-Tc(0.24)))
Discount Rate = 9.36% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.96%
[DCF Debug] Terminal Value 73.06% ; FCFE base≈3.50b ; Y1≈3.39b ; Y5≈3.37b
Fair Price DCF = 77.60 (DCF Value 47.76b / Shares Outstanding 615.5m; 5y FCF grow -4.34% → 3.0% )
EPS Correlation: -19.05 | EPS CAGR: -4.88% | SUE: 0.97 | # QB: 1
Revenue Correlation: -44.57 | Revenue CAGR: -14.10% | SUE: -0.80 | # QB: 0

Additional Sources for CNI Stock

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