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Canadian National Railway Valuation Multiples

Discover revenue and EBITDA valuation multiples for Canadian National Railway and similar public comparables like Titagarh Rail Systems, Indian Railway Catering and Tourism, and Bangkok Expressway.

Canadian National Railway Overview

About Canadian National Railway

Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2024, CN generated CAD 17 billion in revenue by hauling intermodal containers (22% of consolidated revenue), petroleum and chemicals (20%), grain and fertilizers (20%), forest products (11%), metals and minerals (12%), automotive shipments (5%), and coal (5%). Other items constitute the remaining revenue.


Founded

1919

HQ

Canada
Employees

24.7K+

Website

cn.ca

Sectors

Railways

Financials

LTM Revenue $12.5B

LTM EBITDA $6.1B

EV

$80.4B

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Canadian National Railway Financials

Canadian National Railway has a last 12-month revenue (LTM) of $12.5B and a last 12-month EBITDA of $6.1B.

In the most recent fiscal year, Canadian National Railway achieved revenue of $12.3B and an EBITDA of $6.2B.

Canadian National Railway expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Canadian National Railway P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $12.5B XXX $12.3B XXX XXX XXX
Gross Profit $6.3B XXX $5.0B XXX XXX XXX
Gross Margin 50% XXX 41% XXX XXX XXX
EBITDA $6.1B XXX $6.2B XXX XXX XXX
EBITDA Margin 49% XXX 51% XXX XXX XXX
EBIT $4.7B XXX $4.6B XXX XXX XXX
EBIT Margin 38% XXX 37% XXX XXX XXX
Net Profit $3.4B XXX $3.2B XXX XXX XXX
Net Margin 27% XXX 26% XXX XXX XXX
Net Debt XXX XXX $14.8B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Canadian National Railway Stock Performance

As of May 30, 2025, Canadian National Railway's stock price is CAD 144 (or $104).

Canadian National Railway has current market cap of CAD 90.5B (or $65.3B), and EV of CAD 111B (or $80.4B).

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Canadian National Railway Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$80.4B $65.3B XXX XXX XXX XXX $5.33

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Canadian National Railway Valuation Multiples

As of May 30, 2025, Canadian National Railway has market cap of $65.3B and EV of $80.4B.

Canadian National Railway's trades at 6.5x EV/Revenue multiple, and 12.9x EV/EBITDA.

Equity research analysts estimate Canadian National Railway's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Canadian National Railway has a P/E ratio of 19.5x.

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Canadian National Railway Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $65.3B XXX $65.3B XXX XXX XXX
EV (current) $80.4B XXX $80.4B XXX XXX XXX
EV/Revenue 6.4x XXX 6.5x XXX XXX XXX
EV/EBITDA 13.2x XXX 12.9x XXX XXX XXX
EV/EBIT 17.1x XXX 17.6x XXX XXX XXX
EV/Gross Profit 12.9x XXX n/a XXX XXX XXX
P/E 19.5x XXX 20.4x XXX XXX XXX
EV/FCF 33.7x XXX 35.4x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Canadian National Railway Margins & Growth Rates

Canadian National Railway's last 12 month revenue growth is 4%

Canadian National Railway's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $19K for the same period.

Canadian National Railway's rule of 40 is 58% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Canadian National Railway's rule of X is 60% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Canadian National Railway Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 4% XXX 5% XXX XXX XXX
EBITDA Margin 49% XXX 51% XXX XXX XXX
EBITDA Growth 8% XXX -1% XXX XXX XXX
Rule of 40 58% XXX 55% XXX XXX XXX
Bessemer Rule of X XXX XXX 60% XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $19K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 4% XXX XXX XXX

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Canadian National Railway Public Comps

See public comps and valuation multiples for Railways comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Aurizon Holdings XXX XXX XXX XXX XXX XXX
Bangkok Expressway XXX XXX XXX XXX XXX XXX
Container Corporation of India XXX XXX XXX XXX XXX XXX
Titagarh Rail Systems XXX XXX XXX XXX XXX XXX
Indian Railway Catering and Tourism XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Canadian National Railway M&A and Investment Activity

Canadian National Railway acquired  XXX companies to date.

Last acquisition by Canadian National Railway was  XXXXXXXX, XXXXX XXXXX XXXXXX . Canadian National Railway acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Canadian National Railway

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Canadian National Railway

When was Canadian National Railway founded? Canadian National Railway was founded in 1919.
Where is Canadian National Railway headquartered? Canadian National Railway is headquartered in Canada.
How many employees does Canadian National Railway have? As of today, Canadian National Railway has 24.7K+ employees.
Who is the CEO of Canadian National Railway? Canadian National Railway's CEO is Ms. Tracy Robinson.
Is Canadian National Railway publicy listed? Yes, Canadian National Railway is a public company listed on TSE.
What is the stock symbol of Canadian National Railway? Canadian National Railway trades under CNR ticker.
When did Canadian National Railway go public? Canadian National Railway went public in 1995.
Who are competitors of Canadian National Railway? Similar companies to Canadian National Railway include e.g. Aurizon Holdings, Bangkok Expressway, Container Corporation of India, Titagarh Rail Systems.
What is the current market cap of Canadian National Railway? Canadian National Railway's current market cap is $65.3B
What is the current revenue of Canadian National Railway? Canadian National Railway's last 12 months revenue is $12.5B.
What is the current revenue growth of Canadian National Railway? Canadian National Railway revenue growth (NTM/LTM) is 4%.
What is the current EV/Revenue multiple of Canadian National Railway? Current revenue multiple of Canadian National Railway is 6.4x.
Is Canadian National Railway profitable? Yes, Canadian National Railway is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Canadian National Railway? Canadian National Railway's last 12 months EBITDA is $6.1B.
What is Canadian National Railway's EBITDA margin? Canadian National Railway's last 12 months EBITDA margin is 49%.
What is the current EV/EBITDA multiple of Canadian National Railway? Current EBITDA multiple of Canadian National Railway is 13.2x.
What is the current FCF of Canadian National Railway? Canadian National Railway's last 12 months FCF is $2.4B.
What is Canadian National Railway's FCF margin? Canadian National Railway's last 12 months FCF margin is 19%.
What is the current EV/FCF multiple of Canadian National Railway? Current FCF multiple of Canadian National Railway is 33.7x.

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