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CSX Corporation(CSX)

C

Financial data as of Dec 31, 2025Improving · Industrials

FCF Margin12.1%Free Cash Flow / Revenue
Cash Conversion159.7%Operating CF / Net Income
Free Cash Flow$1.7B
Revenue$14.1B
Net Cash-$18.7BNet debt position
Debt / FCF11.3xElevated debt burden
Current Ratio0.81Tight short-term liquidity
YoY FCF Growth+28.9%4 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-2Very high debt-to-FCF ratio (11.3x)
→
-1Current ratio below 1.0 (0.81)
→
+1Strong YoY FCF growth (28.9% YoY)
→
FinalC

Analysis Summary

Strengths

  • Healthy FCF margin (12.1%)
  • Excellent cash conversion (160%)
  • Strong YoY FCF growth (+28.9%)

Concerns

  • Heavy debt position ($18.7B net debt, 11.3x FCF)
  • High debt-to-FCF ratio (11.3x)
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin12.1%
Net Margin20.5%
Operating CF Margin32.7%
CapEx Ratio20.6%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$18.7BNet debt position
Debt / FCF11.3xElevated debt burden
Current Ratio0.81Tight liquidity
Debt / Equity1.47Moderate leverage

Quarterly FCF Trend

+28.9% YoYImproving (+28.9%)

Free cash flow per quarter

Sector Comparison — Industrials

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameCSX Corporation
SectorIndustrials
Free Cash Flow$1.7B
Revenue$14.1B
Net Income$2.9B
Operating Cash Flow$4.6B
Capital Expenditure$2.9B
FCF Margin12.1%
Cash Conversion Rate159.7%
Net Margin20.5%
Total Debt$19.4B
Total Cash$670.0M
Net Cash-$18.7B
Current Ratio0.81
Debt / Equity1.47
Debt / FCF11.3x
YoY FCF Growth+28.9%
Positive Quarters4 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeC
Data SourceYahoo Finance

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