Added to YB: 2026-02-24
Pitch date: 2026-02-20
CNR.TO [neutral]
Canadian National Railway Company
-0.8%
current return
Author Info
Company Info
Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and related transportation businesses in Canada and the United States.
Market Cap
CAD 92.4B
Pitch Price
CAD 152.00
Price Target
N/A
Dividend
2.42%
EV/EBITDA
12.20
P/E
19.97
EV/Sales
6.57
Sector
Ground Transportation
Category
dividend
CNR: a quality railway in an ugly 2025
CNR.TO (overview): 2025 rev +2% to C$17.3B, adj EPS +7% to C$7.63 (top of guidance), OR improved 1.2pts to 61.7%, Q4 OR hit 60.1%. ROIC stable ~13% despite tariffs/mix headwinds (C$350M revenue impact). Completed C$3.3B capex cycle, 2026 capex cut C$500M to C$2.8B. Buybacks C$2B in 2025, new 24M share authorization. 2026 guidance: flat RTMs, EPS growth slightly above volumes. Mgmt sees path to double-digit EPS growth post-2026 when volumes normalize. Quality rail asset w/ optionality but cycle/regulation-constrained near-term.
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