CSX Corp (CSX) operating KPIs

CSXNasdaqRailroads, Line-Haul OperatingFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 21, 2026Score 9/3050% above fair value

$51.99−0.25 (-0.48%)

Close on Oct 30, 2026Market cap $96.31BP/E 30.1Yield 1.00%

KPIs

Operating metrics that drive CSX's business · fiscal year ends December 31

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Metric	Q3 2026 2026-09-30	Q2 2026 2026-06-30	Q1 2026 2026-03-31	Q4 2025 2025-12-31	Q3 2025 2025-09-30	Q2 2025 2025-06-30	Q1 2025 2025-03-31	Q4 2024 2024-12-31	Q3 2024 2024-09-30	Q2 2024 2024-06-30	Q1 2024 2024-03-31	Q4 2023 2023-12-31

Total volume (carloads & intermodal units)3	1,687,000	1,676,000	1,559,000	1,597,000	1,612,000	1,580,000	1,518,000	1,575,000	1,590,000	1,578,000	1,534,000	1,560,000
Merchandise7	679,000	695,000	631,000	634,000	660,000	670,000	630,000	650,000	670,000	683,000	645,000	648,000
Chemicals	176,000	177,000	168,000	161,000	164,000	164,000	166,000	171,000	176,000	174,000	167,000	161,000
Agricultural & food products	114,000	119,000	116,000	115,000	110,000	117,000	115,000	116,000	118,000	115,000	114,000	120,000
Minerals	103,000	105,000	82,000	93,000	104,000	99,000	79,000	88,000	96,000	97,000	80,000	85,000
Automotive	97,000	102,000	87,000	91,000	99,000	103,000	87,000	96,000	98,000	105,000	94,000	98,000
Metals & equipment	75,000	72,000	65,000	63,000	67,000	70,000	65,000	63,000	64,000	68,000	70,000	67,000
Forest products	72,000	70,000	64,000	64,000	68,000	70,000	70,000	72,000	73,000	74,000	73,000	70,000
Fertilizers	42,000	50,000	49,000	47,000	48,000	47,000	48,000	44,000	45,000	50,000	47,000	47,000
Intermodal	820,000	792,000	757,000	782,000	768,000	729,000	716,000	746,000	730,000	716,000	701,000	720,000
Coal	188,000	189,000	171,000	181,000	184,000	181,000	172,000	179,000	190,000	179,000	188,000	192,000
Coal tonnage (millions of tons)(M)2	21.3	21.3	19.4	20.4	20.9	20.3	19.4	20.1	21.3	20.1	21.2	21.7
Domestic coal tonnage(M)	10.7	10	9.30	10.2	11	10.2	9.20	9.60	10.2	9.50	9.60	10.9
Export coal tonnage(M)	10.6	11.3	10.1	10.2	9.90	10.1	10.2	10.5	11.1	10.6	11.6	10.8
Revenue ton-miles (billions)(M)3	50.7	51.4	48.6	48.4	50.4	50	47.8	48.3	48.8	48.7	48.5	49
Merchandise(M)	33.4	34.4	32.6	31.9	32.8	33.2	32.3	32.6	32.5	32.7	32	32.1
Coal(M)	9.30	9.10	8.50	9	9.90	9.30	8.40	8.40	9.10	8.80	9.40	9.60
Intermodal(M)	8	7.90	7.50	7.50	7.70	7.50	7.10	7.30	7.20	7.20	7.10	7.30
Total gross ton-miles (billions)(M)	98.9	99.7	93.5	94.6	98.8	99.6	93.9	96.1	95.7	96.8	95.8	96.7

Average revenue per unit (RPU)($)3	2,381	2,348	2,233	2,197	2,225	2,262	2,255	2,247	2,276	2,345	2,400	2,359
Merchandise($)7	3,613	3,519	3,468	3,401	3,345	3,369	3,416	3,371	3,330	3,362	3,388	3,367
Chemicals($)	4,489	4,373	4,298	4,224	4,250	4,274	4,205	4,140	4,131	4,149	4,150	4,106
Agricultural & food products($)	3,772	3,731	3,526	3,565	3,473	3,573	3,548	3,578	3,525	3,530	3,570	3,575
Minerals($)	2,388	2,305	2,341	2,226	2,173	2,202	2,291	2,148	2,104	2,134	2,175	2,106
Automotive($)	3,351	3,255	3,161	3,132	3,091	3,107	3,115	3,083	3,071	3,200	3,117	3,204
Metals & equipment($)	3,560	3,556	3,385	3,365	3,343	3,200	3,215	3,190	3,250	3,382	3,143	3,179
Forest products($)	3,847	3,800	3,578	3,578	3,632	3,571	3,557	3,569	3,548	3,635	3,589	3,586
Fertilizers($)	2,810	2,640	2,878	2,830	2,625	2,681	2,833	2,841	2,622	2,520	2,894	2,872
Intermodal($)	773	783	684	719	686	674	689	705	697	707	722	767
Coal($)	2,856	2,751	2,678	2,608	2,663	2,635	2,680	2,788	2,911	3,145	3,362	3,229
Revenue by line of business & commodity($M)5	4,017	3,935	3,482	3,508	3,587	3,574	3,423	3,539	3,619	3,701	3,681	3,680
Merchandise($M)7	2,453	2,446	2,188	2,156	2,208	2,257	2,152	2,191	2,231	2,296	2,185	2,182
Chemicals($M)	790	774	722	680	697	701	698	708	727	722	693	661
Agricultural & food products($M)	430	444	409	410	382	418	408	415	416	406	407	429
Minerals($M)	246	242	192	207	226	218	181	189	202	207	174	179
Automotive($M)	325	332	275	285	306	320	271	296	301	336	293	314
Metals & equipment($M)	267	256	220	212	224	224	209	201	208	230	220	213
Forest products($M)	277	266	229	229	247	250	249	257	259	269	262	251
Fertilizers($M)	118	132	141	133	126	126	136	125	118	126	136	135
Intermodal($M)	634	620	518	562	527	491	493	526	509	506	506	552
Coal($M)	537	520	458	472	490	477	461	499	553	563	632	620
Trucking (Quality Carriers, acquired Q3 2021)($M)	227	226	202	196	207	211	202	194	214	221	215	204
Other revenue (demurrage, storage, accessorial & switching)($M)	166	123	116	122	155	138	115	129	112	115	143	122
Fuel surcharge revenue($M)1	466	410	231	243	234	222	217	221	245	275	277	334
Fuel lag (positive / negative surcharge timing impact)($M)	-36	-54	-39	1	-11	4	-5	6	9	15	6	22

Operating margin(%)1	39.1%	38.3%	36.0%	31.6%	30.3%	35.9%	30.4%	31.3%	37.4%	39.1%	36.3%	35.7%
Operating ratio (legacy headline metric, to Q4 2023)(%)												64.1%
Train velocity (mph)	19	18	19	20	19	18	18	18	19	18	18	18
Terminal dwell (hours)	11	11	11	10	10	10	12	11	10	10	10	10
Cars online	128,828	131,642	123,804	118,497	121,278	129,738	132,200	131,618	126,623	126,164	124,720	123,757
On-time originations(%)	69.0%	70.0%	73.0%	78.0%	75.0%	69.0%	68.0%	71.0%	72.0%	74.0%	75.0%	71.0%
On-time arrivals(%)	56.0%	54.0%	61.0%	67.0%	64.0%	55.0%	55.0%	61.0%	66.0%	64.0%	70.0%	69.0%
Carload trip plan performance(%)	73.0%	71.0%	74.0%	83.0%	83.0%	75.0%	69.0%	76.0%	80.0%	80.0%	82.0%	85.0%
Intermodal trip plan performance(%)	83.0%	88.0%	88.0%	92.0%	93.0%	90.0%	90.0%	85.0%	92.0%	94.0%	94.0%	95.0%
Fuel efficiency (gallons per 1,000 GTMs)	1	1	1	1	1	1	1	1	1	1	1	1
Locomotive fuel consumption (millions of gallons)(M)4	91	94	91	91	93	97	93	94	91	94	97	97
Locomotive fuel price per gallon($)	4.24	4.05	2.76	2.48	2.54	2.33	2.42	2.38	2.52	2.66	2.85	3.08
Total locomotive fuel expense($M)	384	379	251	226	237	226	225	224	229	249	276	298
Non-locomotive fuel expense($M)	67	67	51	44	44	43	50	42	47	52	49	54
Total fuel expense (consolidated)($M)	451	446	302	270	281	269	275	266	276	301	325	352
FRA personal injury frequency index (per 200,000 man-hours)	1	1	1	1	1	1	1	1	1	1	1	1
FRA train accident rate (per million train-miles)	3	3	2	2	3	4	4	4	3	3	4	2

Rail segment — revenue($M)10	3,790	3,709	3,482	3,312	3,380	3,363	3,423	3,345	3,405	3,480	3,466
Rail segment — operating income($M)	1,569	1,493	1,255	1,118	1,256	1,277	1,038	1,223	1,351	1,441	1,331
Labor & fringe (Rail)($M)	782	782	763	781	758	736	774	736	756	719	760
Purchased services & other (Rail)($M)	548	535	549	693	624	605	662	645	556	577	602
Depreciation & amortization (Rail)($M)	398	396	399	388	408	410	410	407	401	396	395
Locomotive fuel (Rail)($M)	384	379	251	226	237	226	225	224	229	249	276
Non-locomotive fuel (Rail)($M)	33	34	28	24	23	23	30	24	26	27	25
Equipment & other rents (Rail)($M)	87	92	79	84	80	90	82	90	86	80	78
Gain on property disposition (Rail)($M)	-11	-2	-44	-2	-6	-4		-4	0	-9	-1
Rail segment — capital expenditures($M)	581	561	537	727	717	766	691	869	610	524	498
Rail segment — reportable assets (billions)(M)	45	44.6	44.1	43.5	43.1	42.7	43	42.6				42
Trucking segment (Quality Carriers) — gross revenue($M)4	230	229	205	198	215	219	207	196	216	223	217
Trucking revenue (external / net of intersegment)($M)	227	226	202	196	207	211	202	194	214	221	215	204
Trucking segment (Quality Carriers) — gross operating expenses($M)	229	216	207	206	384	213	204	313	213	216	211
Intersegment revenue elimination($M)	-3	-3	-3	-2	-8	-8	-5	-2	-2	-2	-2
Intersegment expense elimination($M)	-3	-3	-3	-2	-8	-8	-5	-2	-2	-2	-2

Average employees — Total CSX2	21,955	22,167	22,328	22,995	23,275	23,510	23,425	23,464	23,316	23,312	23,382	23,183
Rail	19,842	20,063	20,253	20,889	21,068	21,300	21,430	21,498	21,336	21,390	23,382	23,183
Trucking (Quality Carriers)	2,113	2,104	2,075	2,106	2,207	2,210	1,995	1,966	1,980	1,922
Ending employees — Total CSX2	21,870	22,151	22,249	22,935	23,221	23,543	23,414	23,536	23,355	23,275	23,396	23,232
Rail	19,745	20,046	20,177	20,845	21,053	21,310	21,384	21,574	21,356	21,329	23,396	23,232
Trucking (Quality Carriers)	2,125	2,105	2,072	2,090	2,168	2,233	2,030	1,962	1,999	1,946

Executives, officials & staff assistants3		837	858	890	877	890	904	916	907	899	925	926
Professional & administrative3		1,600	1,617	1,727	1,737	1,818	1,839	1,843	1,823	1,821	1,781	1,752
Maintenance of way & structures3		4,990	5,049	5,032	5,063	5,121	5,112	5,141	5,167	5,158	5,173	5,114
Maintenance of equipment & stores3		2,591	2,654	2,700	2,743	2,791	2,768	2,800	2,791	2,773	2,753	2,694
Transportation (other than train & engine)3		839	863	856	870	876	903	870	850	850	883	865
Transportation (train & engine)6		7,487	7,476	7,862	7,949	7,921	7,997	8,012	7,896	7,924	7,927	7,865

Operating revenues (USOA, CSXT)4
Freight (Account 101)($M)		3,584	3,162	3,190	3,229	3,221	3,100	3,192	3,293	3,362	3,321	3,351
Passenger (Account 102)($M)		0	0	0	0	0	0	0	0	0	0	0
All other operating revenues($M)		18.7	19	20.4	53.4	38.3	20.2	24.4	16.9	21.9	46.7	25.2
Joint facility (Account 120)($M)		0	0	0	0	0	0	0	0	0	0	0
Operating expenses (USOA, CSXT)5
Way & structures2
Depreciation — road($M)		282	265	256	273	271	264	260	251	254	252	257
All other way & structures($M)		155	220	225	200	200	228	225	134	219	224	213
Equipment2
Depreciation — equipment($M)		70.6	94.1	93.3	96.2	97.9	102	102	100	100	100	101
All other equipment($M)		239	240	271	250	262	259	265	254	242	247	249
Transportation — train, yard & yard common($M)		876	714	728	746	709	736	730	773	673	768	797
Transportation — specialized services & administration($M)		245	238	226	225	229	236	229	207	205	214	205
General & administrative($M)		397	357	431	395	368	396	356	387	362	399	401
Expenses to revenues ratio (CSXT statutory operating ratio)(%)2		62.9%	66.9%	69.5%	66.6%	65.6%	71.2%	67.4%	63.6%	60.7%	65.5%	65.8%
Total maintenance to revenues(%)		20.7%	25.7%	26.4%	24.9%	25.5%	27.3%	26.5%	22.4%	24.1%	24.5%	24.3%
Transportation to revenues(%)		31.1%	29.9%	29.7%	29.6%	28.8%	31.2%	29.8%	29.6%	26.0%	29.2%	29.7%
Revenue tons carried (millions, CBS)(M)1		91	83.5	84.6	86.8	86.6	82.4	84.5	87.3	86.6	84.6	85.5
Revenue ton-miles (millions, CBS)(M)		52,106	48,891	48,910	51,215	51,554	48,707	49,293	49,491	49,796	49,796	49,368
Gross additions & betterments (CBS)2
Road($M)		405	369	569	883	366	426	432	470	447	404	513
Equipment($M)		22.3	121	259	35.7	38.3	90.9	310	93.2	15.1	163	61.1
Transportation property — net (CBS)($M)2		33,966	33,838	33,826	33,578	33,305	32,938	32,761	32,418	32,199	32,104	31,945
Materials & supplies($M)		395	428	378	403	408	427	403	404	406	434	430
Investments in affiliated companies($M)		1,688	1,696	1,701	1,671	1,645	2,324	2,327	2,395	2,350	2,393	2,396
Locomotive fuel cost (Ex Parte 661)($M)3		402	271	243	252	242	246	241	248	269	293	317
Fuel consumed (millions of gallons)(M)		99.2	98.1	97.7	99	104	102	101	98.2	101	103	103
Fuel surcharge revenue — all traffic($M)		410	231	243	234	222	217	221	245	275	277	334
Fuel surcharge revenue — STB-regulated traffic($M)		2.20	0.30	0.10	0.40	0.40	0.30	0.90	0.60	0.70	0.80	0.60

Total casualty, environmental & other reserves (period-end)($M)5	479	482	479	479	470	462	465	462	456	447	448	440
Current portion($M)	185	182	179	184	159	158	146	149	147	148	140	144
Long-term portion($M)	294	300	300	295	311	304	319	313	309	299	308	296
Total casualty reserves($M)4	220	221	213	213	208	210	210	208	211	200	201	195
Current portion($M)	66	66	66	66	61	61	58	58	62	62	52	52
Long-term portion($M)	154	155	147	147	147	149	152	150	149	138	149	143
Personal injury reserves($M)2	161	163	154	154	148	149	144	142	142	133	132	128
Current portion($M)	60	60	60	60	54	54	51	51	51	51	45	45
Long-term portion($M)	101	103	94	94	94	95	93	91	91	82	87	83
Occupational reserves($M)2	59	58	59	59	60	61	66	66	69	67	69	67
Current portion($M)	6	6	6	6	7	7	7	7	11	11	7	7
Long-term portion($M)	53	52	53	53	53	54	59	59	58	56	62	60
Environmental reserves($M)2	142	148	154	156	149	149	151	151	147	149	154	154
Current portion($M)	50	50	49	49	39	39	37	37	36	36	41	41
Long-term portion($M)	92	98	105	107	110	110	114	114	111	113	113	113
Other reserves($M)2	117	113	112	110	113	103	104	103	98	98	93	91
Current portion($M)	69	66	64	69	59	58	51	54	49	50	47	51
Long-term portion($M)	48	47	48	41	54	45	53	49	49	48	46	40

Shares repurchased (millions, QFR)(M)2	11	6	6	3	3	14	24	30	12	16	7	18
Cost of shares repurchased($M)	543	284	222	112	112	401	751	992	402	563	247	581
Average cost per share repurchased($)	48.75	45.30	39.02	35.37	33.07	28.28	31.66	33.60	33.66	34.51	36.46	30.78

Free cash flow before dividends (Non-GAAP)($M)2	1,031	824	793	723	622	-115	559	566	1,068	590	560	801
Property additions (cash capital expenditures)($M)	593	576	543	677	730	776	719	838	625	549	517	5
Proceeds & advances from property dispositions($M)	7	73	64	14	15	26	23	16	7	32	11	6

Total operating expense($M)5	2,447	2,429	2,229	2,398	2,500	2,291	2,382	2,433	2,265	2,253	2,344	2,365
Labor & fringe($M)	834	831	812	835	815	791	821	788	806	766	805	814
Purchased services & other($M)	657	644	616	799	730	710	774	754	676	691	720	714
Depreciation & amortization($M)	413	411	415	404	424	427	425	422	416	410	410	405
Fuel($M)	451	446	302	270	281	269	275	266	276	301	325	352
Equipment & other rents($M)	92	97	84	90	86	94	87	95	91	85	84	88

Revenue($M)	4,017	3,935	3,482	3,508	3,587	3,574	3,423	3,539	3,619	3,701	3,681	3,680
Operating income($M)	1,570	1,506	1,253	1,110	1,087	1,283	1,041	1,106	1,354	1,448	1,337	1,315
Net income($M)	1,052	1,002	807	720	694	829	646	733	894	963	880	882
Diluted EPS($)	0.57	0.54	0.43	0.39	0.37	0.44	0.34	0.38	0.46	0.49	0.45	0.45
Depreciation & amortization($M)	413	411	415	404	424	427	425	422	416	410	410	405
Operating cash flow($M)	1,617	1,327	1,272	1,386	1,337	635	1,255	1,388	1,686	1,107	1,066	1,489
Capital expenditures($M)	593	576	543	677	730	776	719	838	625	549	517	686

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics

Calendar fiscal year. CSX Corporation's principal rail operating subsidiary is CSX Transportation, Inc. (CSXT, reporting mark CSX / CSXT); its chemical bulk trucking subsidiary is Quality Carriers, Inc. (acquired July 1, 2021).
Volume, revenue, revenue per unit (RPU), domestic/export coal tonnage, fuel surcharge, fuel lag, Rail/Trucking headcount, locomotive fuel consumption, and network/safety statistics come from CSX's Quarterly Financial Reports (8-K EX-99.2 QFR, Q4 2016 – Q3 2026).
Track & terminal infrastructure, locomotive & freight car/container fleet, capital expenditures by category, properties by asset class, casualty/personal injury/occupational/environmental reserves, Conrail (42% owned) & TTX (~20% owned) affiliate disclosures, purchase commitments, operating leases, Rail vs. Trucking segment reporting, and monthly share repurchases come from the Form 10-K and Form 10-Q filings.
STB data (Surface Transportation Board): monthly employment by job group (Form C / STB-1246) is filed through September 2026; CSXT's quarterly statutory reports (Form RE&I, Form CBS, Form A&B wage statistics, Ex Parte 661 fuel & surcharge) lag the 10-Q by one quarter (through Q2 2026) and follow the Uniform System of Accounts for CSXT.
All figures are as published by CSX or the STB; no ratios, totals or estimates are added. The only arithmetic is splitting reported cumulative totals into individual quarters: Q4 = full year (10-K) − nine months (10-Q) for Rail/Trucking segment disclosures, and quarterly cash flows / FCF = year-to-date − previous year-to-date (shown in italics).
CSX Corporation is a U.S. GAAP holding company exempt from parent-only financial statements (Schedule I), so there is no consolidated − parent split.

Not shown because recent periods are missing (21)

Network operations, service performance, fuel & safety › Operating margin › Adjusted operating margin (Non-GAAP)
CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661) › Operating revenues (USOA, CSXT)
CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661) › Operating expenses (USOA, CSXT) › Way & structures
CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661) › Operating expenses (USOA, CSXT) › Equipment
CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661) › Operating expenses (USOA, CSXT)
CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661) › Gross additions & betterments (CBS)
CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661) › Transportation property — net (CBS) › Total assets (CSXT)
Cars loaded & terminated by car type and ownership (STB Form 54, annual) › Cars loaded › Railroad-owned cars (all types)
Cars loaded & terminated by car type and ownership (STB Form 54, annual) › Cars loaded › Private (shipper-owned) cars (all types)
Cars loaded & terminated by car type and ownership (STB Form 54, annual) › Cars loaded
Cars loaded & terminated by car type and ownership (STB Form 54, annual) › Cars terminated on line › Railroad-owned cars (all types)
Cars loaded & terminated by car type and ownership (STB Form 54, annual) › Cars terminated on line › Private (shipper-owned) cars (all types)
Cars loaded & terminated by car type and ownership (STB Form 54, annual) › Cars terminated on line
Network, terminals, locomotives & freight car fleet (10-K, year-end) › Top 10 yards & terminals — annual volume (cars / containers processed) › Louisville, KY (in top 10 through FY2024)
Network, terminals, locomotives & freight car fleet (10-K, year-end) › Top 10 yards & terminals — annual volume (cars / containers processed) › Cumberland, MD (entered top 10 in FY2025)
Non-GAAP measures — Economic Profit & Free Cash Flow (as published) › Adjusted operating income (Non-GAAP, quarters with special items)
Non-GAAP measures — Economic Profit & Free Cash Flow (as published) › Adjusted net earnings (Non-GAAP, quarters with special items)
Non-GAAP measures — Economic Profit & Free Cash Flow (as published) › Adjusted diluted EPS (Non-GAAP, quarters with special items)
Class I railroad benchmarks (STB) › CSX Transportation — STB return on investment › Kansas City Southern (to 2022)
Class I railroad benchmarks (STB) › CSX Transportation — STB return on investment › Soo Line (to 2022)
Operating expenses by category (earnings release) › Total operating expense › Gains on property dispositions

Data updated 2026-10-27.

Every KPI on its own page

Full history, chart, sources and a citation for each metric

CSX Corp (CSX) operating KPIs

KPIs

Every KPI on its own page

Freight volume, coal tonnage & ton-miles

Pricing — revenue per unit (RPU), freight revenue & fuel surcharge

Network operations, service performance, fuel & safety

Operating segments — Rail vs. Trucking / Quality Carriers (10-K Note 17 & 10-Q Note 11)

Workforce — Rail & Trucking headcount, union membership, proxy pay & monthly STB

Workforce — hours, overtime & compensation by job group (STB, quarterly)

CSX Transportation (CSXT) — statutory STB reports (Form RE&I, Form CBS, Ex Parte 661)

Cars loaded & terminated by car type and ownership (STB Form 54, annual)

Network, terminals, locomotives & freight car fleet (10-K, year-end)

Capital expenditures & properties by asset class (10-K)

Casualty, personal injury & environmental reserves (10-K & 10-Q)

Affiliates (Conrail & TTX), purchase commitments & operating leases (10-K)

Share repurchases (quarterly, annual & monthly)

Non-GAAP measures — Economic Profit & Free Cash Flow (as published)

Class I railroad benchmarks (STB)

Operating expenses by category (earnings release)

Financial context (database)