Canadian National Railway Co.
Canadian National Railway Co. is a North American freight transportation and logistics company. Canadian National Railway Co. operates an integrated rail network that moves a broad mix of goods across Canada and the United States, serving industries such as automotive, agriculture, energy, forestry, metals, minerals, chemicals, and consumer products. Its services extend beyond rail freight to intermodal transportation, trucking, customs brokerage, transloading, warehousing, and supply-chain support. The company also provides specialized solutions for temperature-controlled cargo, dimensional loads, private railcar storage, and connections to short-line rail partners. Canadian National Railway Co. plays a central role in continental commerce by linking ports, industrial hubs, and inland markets through a large multimodal transportation platform. Headquartered in Montreal, Canada, the company is recognized as one of the major rail operators supporting long-distance freight movement and logistics across the region.
$123.14
-$1.79 (-1.43%)
EOD Oct 23, 2026
37.55% operating margin is above average. ROIC at 13.35%.
Revenue grew 38.2% in the fiscal year ended Dec 2025, still solid.
Net debt of C$21.28B represents 6.0x FCF, leverage limits flexibility.
22.14x earnings, 29.53x FCF. A middle-of-the-range multiple: the price assumes roughly the current trajectory.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
C$17.76B
▲ +38.2% YoY
Net Income (TTM)
C$4.78B
▲ +44.4% YoY
Op. Margin
37.55%
▲ +1.0pp YoY
ROIC
13.35%
▲ +3.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
C$3.55B
▲ +46.5% YoY
Op. Cash Flow (TTM)
C$7.02B
▲ +37.0% YoY
Net Debt
C$21.28B
Cash & Equiv.
C$350M
3Y CAGR: +0.4%
3Y CAGR: -4.7%
Continue Research
Is Canadian National Railway (CNI) overvalued?
At a P/E of 22.1 and a price-to-free-cash-flow of 29.5, Canadian National Railway (CNI) trades above a two-stage DCF intrinsic value of about C$66.18 per share, so at C$123.14 the stock looks overvalued (46.3% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Canadian National Railway scores 33/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.2%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Canadian National Railway's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about C$66.18 per share for CNI, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around C$49.64. At today's C$123.14, that puts the stock about 46.3% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Canadian National Railway a high-quality business?+
Canadian National Railway scores 33 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 37.5% operating margin and a 13.3% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Canadian National Railway (CNI) pay a dividend, and how much?+
Yes, Canadian National Railway pays a regular dividend of about C$1.99 per share per year (typically in quarterly installments), a yield of roughly 1.2% at the current price. That is a payout ratio of about 25.3% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For CNI's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Canadian National Railway a good stock to buy right now?+
That depends on valuation and quality together, not either alone. CNI currently trades above its estimated intrinsic value and scores 33/100 on quality (lower-quality). It also yields about 1.2%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Railroads
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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