Canadian National Railway (CNI) Stock Price & Analysis
CNI$122.89-1.42 -1.14%
$74.37B
Market Cap
22.47
P/E
14.87
Forward P/E
42
Score
Canadian National Railway (CNI) Stock Price & Analysis
CNI price $122.89 -1.42 -1.14%
- Ticker
- CNI
- Price
- $122.89
- Change
- -1.42 -1.14%
- Market cap ?
- $74.37B
- P/E ?
- 22.47
- Forward P/E ?
- 14.87
- Dividend yield ?
- 2.08%
- Beta ?
- 0.97
- Sector
- Industrials
- Industry
- Railroads
- Stocklytics score
- 42
- Value
- 32
- Quality
- 58
- Growth
- 36
Stocklytics score rationale: value 32, quality 58, growth 36.
Financials
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| 12037000000 | 13041000000 | 14321000000 | 14917000000 | 13819000000 | 14477000000 | 17107000000 | 16828000000 | 17046000000 | 17289898000 |
Canadian National Railway Company (CNI), together with its subsidiary operations, functions as a key player in the railway and related logistics industry. The firm handles a wide array of freight, including petroleum products and chemicals, agricultural commodities such as grain and fertilizers, various minerals like coal and metals, timber and paper goods, intermodal containers, and finished automobiles. Its…
Fair value
CNI fair value $143.32. Price $122.89. Price is 14% below fair value.
Around fair value, and around its usual valuation.
Fair value is an estimate of what one share is worth if future cash flows arrive as modeled. It is not a forecast of the share price. How discounted cash flow works.
Calculated with a 10-year free-cash-flow discount. Starting free cash flow 3.55B. Growth 4.49%. When analyst earnings forecasts are available, free cash flow in those years is forecast earnings times the company's usual conversion of earnings into free cash flow, kept between 60% and 130%. Years with fewer than 3 analyst estimates are left out. Growth then fades in a straight line to terminal growth by year 10, starting from the last well-covered year's growth, or from the pace across those years when the final year slows sharply, kept between 0% and 20%. Without those forecasts, year-1 growth is analyst revenue growth for the next full fiscal year, or 5-year historical revenue growth when that forecast is missing, held for five years, then fading in a straight line to terminal growth by year 10. Terminal growth 3.00%. Discount rate 9.64% (beta 1.0). Beta is kept between 0.8 and 2.0, which on its own would make the discount rate 8.7% to 15.3%. The rate is then capped at 12%. A cap is used because a discount above 12% pushes higher-beta stocks further from the price. The discount rate stays at least 5 percentage points above terminal growth. Shares 605.15M. Net debt 21.46B. The earnings value is next-12-months earnings per share, or trailing earnings when that forecast is missing, times the median P/E of the company's industry. That median uses listed stocks worth at least $10 billion with a positive P/E of 100 or below, and the industry needs at least eight of them. Otherwise the sector median is used when that group also has at least eight, then the market median of those large companies. The multiple used is the lower of that median and 1.25 times the stock's own 10-year median P/E, then kept between 8 and 30. If the stock has no 10-year median, the peer median is kept between 8 and 30. Fair value is the average of the cash-flow value and the earnings value when both exist. Card and credit companies use the earnings value only, because changes in customer receivables distort free cash flow. Model uncertainty is high when fair value is more than 60% from the price, or when most of the cash-flow value sits after year 10.
Earnings
| Date | EPS actual | EPS estimate | Revenue | Revenue estimate |
|---|---|---|---|---|
| 2026-10-30 | — | 1.49 | — | 3.27B |
| 2026-07-24 | 1.50 | 1.39 | 3.35B | 3.26B |
| 2026-04-29 | 1.31 | 1.31 | 3.15B | 3.15B |
| 2026-01-30 | 1.49 | 1.43 | 3.25B | 3.25B |
| 2025-10-31 | 1.33 | 1.28 | 2.99B | 2.99B |
| 2025-07-22 | 1.35 | 1.37 | 3.14B | 4.17B |
| 2025-05-01 | 1.29 | 1.26 | 3.09B | 4.36B |
| 2025-01-30 | 1.30 | 1.37 | 3.03B | 4.37B |
| 2024-10-22 | 1.26 | 1.28 | 3.03B | 2.98B |
| 2024-07-23 | 1.35 | 1.41 | 3.17B | 3.21B |
| 2024-04-23 | 1.28 | 1.27 | 3.04B | 3.11B |
| 2024-01-23 | 1.48 | 1.46 | 3.37B | 3.25B |
| 2023-10-24 | 1.26 | 1.29 | 2.94B | 3.06B |
| 2023-07-25 | 1.31 | 1.37 | 3.06B | 3.17B |
| 2023-04-24 | 1.35 | 1.26 | 3.19B | 3.16B |
| 2023-01-24 | 1.55 | 1.56 | 3.39B | 3.31B |
| 2022-10-25 | 1.63 | 1.51 | 3.30B | 3.13B |
| 2022-07-26 | 1.93 | 1.76 | 3.37B | 3.18B |
| 2022-04-26 | 1.32 | 1.39 | 2.97B | 2.94B |
| 2022-01-25 | 1.71 | 1.52 | 2.94B | 2.21B |
| 2021-10-19 | 1.52 | 1.43 | 2.83B | 2.39B |
| 2021-07-20 | 1.49 | 1.48 | 2.90B | 2.98B |
| 2021-04-26 | 1.23 | 1.24 | 2.81B | 2.89B |
| 2021-01-26 | 1.43 | 1.41 | 2.86B | 2.84B |
| 2020-10-20 | 1.04 | 1.09 | 2.56B | 2.73B |
| 2020-07-21 | 0.92 | 0.92 | 2.37B | 2.34B |
| 2020-04-27 | 0.91 | 0.76 | 2.51B | 2.26B |
| 2020-01-28 | 0.95 | 0.91 | 2.69B | 2.60B |
| 2019-10-22 | 1.26 | 1.22 | 2.88B | 2.84B |
| 2019-07-23 | 1.29 | 1.26 | 3.02B | 2.87B |
| 2019-04-29 | 0.88 | 0.89 | 2.65B | 2.66B |
| 2019-01-29 | 1.13 | 1.11 | 3.01B | 2.86B |
| 2018-10-23 | 1.15 | 1.12 | 2.84B | 2.76B |
| 2018-07-24 | 1.51 | 1.38 | 2.74B | 2.54B |
| 2018-04-23 | 1.00 | 1.00 | 2.48B | 2.49B |
| 2018-01-23 | 0.94 | 0.98 | 2.58B | 2.72B |
| 2017-10-24 | 1.31 | 1.33 | 2.59B | 2.55B |
| 2017-07-25 | 1.00 | 1.00 | 2.55B | 2.60B |
| 2017-04-24 | 0.88 | 0.84 | 2.40B | 2.35B |
| 2017-01-24 | 0.93 | 0.92 | 2.38B | 2.43B |
Dividends
Yield 2.14%. Payout ratio 46.15%. Frequency Quarterly.
Safety score 88/100 · Safe. Payout ratio is 46% of earnings. Dividends use a moderate share of free cash flow. Dividends were paid in 31 separate years. Yield is 2.1%, in a range that is usually sustainable.
| Ex-date | Dividend | Record | Payment | Frequency |
|---|---|---|---|---|
| 2026-09-08 | $0.66 | 2026-09-08 | 2026-09-29 | Quarterly |
| 2026-06-09 | $0.66 | 2026-06-09 | 2026-06-30 | Quarterly |
| 2026-03-10 | $0.67 | 2026-03-10 | 2026-03-31 | Quarterly |
| 2025-12-09 | $0.64 | 2025-12-09 | 2025-12-30 | Quarterly |
| 2025-09-08 | $0.64 | 2025-09-08 | 2025-09-29 | Quarterly |
| 2025-06-09 | $0.65 | 2025-06-09 | 2025-06-30 | Quarterly |
| 2025-03-10 | $0.61 | 2025-03-10 | 2025-03-31 | Quarterly |
| 2024-12-09 | $0.60 | 2024-12-09 | 2024-12-30 | Quarterly |
| 2024-09-06 | $0.62 | 2024-09-06 | 2024-09-27 | Quarterly |
| 2024-06-07 | $0.62 | 2024-06-07 | 2024-06-28 | Quarterly |
| 2024-03-06 | $0.62 | 2024-03-07 | 2024-03-28 | Quarterly |
| 2023-12-06 | $0.58 | 2023-12-07 | 2023-12-28 | Quarterly |
| 2023-09-07 | $0.58 | 2023-09-08 | 2023-09-29 | Quarterly |
| 2023-06-08 | $0.59 | 2023-06-09 | 2023-06-30 | Quarterly |
| 2023-03-09 | $0.57 | 2023-03-10 | 2023-03-31 | Quarterly |
| 2022-12-07 | $0.54 | 2022-12-08 | 2022-12-29 | Quarterly |
| 2022-09-07 | $0.56 | 2022-09-08 | 2022-09-29 | Quarterly |
| 2022-06-08 | $0.58 | 2022-06-09 | 2022-06-30 | Quarterly |
| 2022-03-09 | $0.57 | 2022-03-10 | 2022-03-31 | Quarterly |
| 2021-12-08 | $0.48 | 2021-12-09 | 2021-12-30 | Quarterly |
| 2021-09-07 | $0.49 | 2021-09-08 | 2021-09-29 | Quarterly |
| 2021-06-08 | $0.51 | 2021-06-09 | 2021-06-30 | Quarterly |
| 2021-03-09 | $0.49 | 2021-03-10 | 2021-03-31 | Quarterly |
| 2020-12-08 | $0.45 | 2020-12-09 | 2020-12-30 | Quarterly |
| 2020-09-08 | $0.44 | 2020-09-09 | 2020-09-30 | Quarterly |
| 2020-06-08 | $0.43 | 2020-06-09 | 2020-06-30 | Quarterly |
| 2020-03-09 | $0.42 | 2020-03-10 | 2020-03-31 | Quarterly |
| 2019-12-06 | $0.41 | 2019-12-09 | 2019-12-30 | Quarterly |
| 2019-09-06 | $0.41 | 2019-09-09 | 2019-09-30 | Quarterly |
| 2019-06-06 | $0.40 | 2019-06-07 | 2019-06-28 | Quarterly |
| 2019-03-07 | $0.40 | 2019-03-08 | 2019-03-29 | Quarterly |
| 2018-12-06 | $0.34 | 2018-12-07 | 2018-12-28 | Quarterly |
| 2018-09-06 | $0.35 | 2018-09-07 | 2018-09-28 | Quarterly |
| 2018-06-07 | $0.35 | 2018-06-08 | 2018-06-29 | Quarterly |
| 2018-03-07 | $0.35 | 2018-03-08 | 2018-03-29 | Quarterly |
| 2017-12-07 | $0.32 | 2017-12-08 | 2017-12-29 | Quarterly |
| 2017-09-07 | $0.34 | 2017-09-08 | 2017-09-29 | Quarterly |
| 2017-06-07 | $0.31 | 2017-06-09 | 2017-06-30 | Quarterly |
| 2017-03-08 | $0.31 | 2017-03-10 | 2017-03-31 | Quarterly |
| 2016-12-07 | $0.28 | 2016-12-09 | 2016-12-30 | Quarterly |
| 2016-09-07 | $0.29 | 2016-09-09 | 2016-09-30 | Quarterly |
| 2016-06-07 | $0.29 | 2016-06-09 | 2016-06-30 | Quarterly |
| 2016-03-08 | $0.28 | 2016-03-10 | 2016-03-31 | Quarterly |
| 2015-12-08 | $0.23 | 2015-12-10 | 2015-12-31 | Quarterly |
| 2015-09-04 | $0.24 | 2015-09-09 | 2015-09-30 | Quarterly |
| 2015-06-05 | $0.25 | 2015-06-09 | 2015-06-30 | Quarterly |
| 2015-03-06 | $0.25 | 2015-03-10 | 2015-03-31 | Quarterly |
| 2014-12-08 | $0.22 | 2014-12-10 | 2014-12-31 | Quarterly |
| 2014-09-05 | $0.23 | 2014-09-09 | 2014-09-30 | Quarterly |
| 2014-06-05 | $0.23 | 2014-06-09 | 2014-06-30 | Quarterly |
| 2014-03-06 | $0.23 | 2014-03-10 | 2014-03-31 | Quarterly |
| 2013-12-06 | $0.20 | 2013-12-10 | 2013-12-31 | Quarterly |
| 2013-09-05 | $0.20 | 2013-09-09 | 2013-09-30 | Quarterly |
| 2013-06-05 | $0.21 | 2013-06-07 | 2013-06-28 | Quarterly |
| 2013-03-05 | $0.21 | 2013-03-07 | 2013-03-28 | Quarterly |
| 2012-12-06 | $0.19 | 2012-12-10 | 2012-12-31 | Quarterly |
| 2012-09-05 | $0.19 | 2012-09-07 | 2012-09-28 | Quarterly |
| 2012-06-06 | $0.18 | 2012-06-08 | 2012-06-29 | Quarterly |
| 2012-03-07 | $0.19 | 2012-03-09 | 2012-03-30 | Quarterly |
| 2011-12-07 | $0.16 | 2011-12-09 | 2011-12-30 | Quarterly |
| 2011-09-07 | $0.16 | 2011-09-09 | 2011-09-30 | Quarterly |
| 2011-06-07 | $0.17 | 2011-06-09 | 2011-06-30 | Quarterly |
| 2011-03-08 | $0.17 | 2011-03-10 | 2011-03-31 | Quarterly |
| 2010-12-08 | $0.13 | 2010-12-10 | 2010-12-31 | Quarterly |
| 2010-09-07 | $0.13 | 2010-09-09 | 2010-09-30 | Quarterly |
| 2010-06-07 | $0.13 | 2010-06-09 | 2010-06-30 | Quarterly |
| 2010-03-08 | $0.13 | 2010-03-10 | 2010-03-31 | Quarterly |
| 2009-12-08 | $0.13 | 2009-12-10 | 2009-12-31 | Quarterly |
| 2009-09-04 | $0.13 | 2009-09-09 | 2009-09-30 | Quarterly |
| 2009-06-05 | $0.13 | 2009-06-09 | 2009-06-30 | Quarterly |
| 2009-03-06 | $0.13 | 2009-03-10 | 2009-03-31 | Quarterly |
| 2008-12-08 | $0.12 | 2008-12-10 | 2008-12-31 | Quarterly |
| 2008-09-05 | $0.11 | 2008-09-09 | 2008-09-30 | Quarterly |
| 2008-06-05 | $0.12 | 2008-06-09 | 2008-06-30 | Quarterly |
| 2008-03-06 | $0.12 | 2008-03-10 | 2008-03-31 | Quarterly |
| 2007-12-06 | $0.10 | 2007-12-10 | 2007-12-31 | Quarterly |
| 2007-09-05 | $0.10 | 2007-09-07 | 2007-09-28 | Quarterly |
| 2007-06-06 | $0.10 | 2007-06-08 | 2007-06-29 | Quarterly |
| 2007-03-07 | $0.10 | 2007-03-09 | 2007-03-30 | Quarterly |
| 2006-12-06 | $0.08 | 2006-12-08 | 2006-12-29 | Quarterly |
Insider trades
| Date | Insider | Action | Shares | Price | Value |
|---|---|---|---|---|---|
| No data yet. | |||||
Institutional holders
Latest filed quarter: Q2 2026.
Institutions holding: 876. Ownership 66.39%.
| Holder | Shares | Change | Change % | Value |
|---|---|---|---|---|
| GATES FOUNDATION TRUST | 51.83M | New | New | 6.18B |
| ROYAL BANK OF CANADA | 31.16M | New | New | 3.72B |
| FIL LTD | 19.13M | New | New | 2.28B |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 18.96M | New | New | 2.26B |
| 1832 ASSET MANAGEMENT L.P. | 16.52M | New | New | 1.97B |
| VANGUARD CAPITAL MANAGEMENT LLC | 15.92M | New | New | 1.90B |
| BANK OF MONTREAL /CAN/ | 14.84M | New | New | 1.77B |
| MACKENZIE FINANCIAL CORP | 8.94M | New | New | 1.51B |
| TD ASSET MANAGEMENT INC | 9.91M | New | New | 1.18B |
| TCI FUND MANAGEMENT LTD | 9.43M | New | New | 1.12B |
| WELLINGTON MANAGEMENT GROUP LLP | 8.54M | New | New | 1.02B |
| CIBC ASSET MANAGEMENT INC | 6.86M | New | New | 819.90M |
| NATIONAL BANK OF CANADA /FI/ | 6.76M | New | New | 805.31M |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 1.42M | New | New | 784.11M |
| DEUTSCHE BANK AG\ | 6.06M | New | New | 722.85M |
| PRICE T ROWE ASSOCIATES INC /MD/ | 6.05M | New | New | 721.68M |
| CLEARBRIDGE INVESTMENTS, LLC | 5.96M | New | New | 711.20M |
| GEODE CAPITAL MANAGEMENT, LLC | 5.83M | New | New | 706.75M |
| NORGES BANK | 5.70M | New | New | 678.97M |
| CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. | 5.67M | New | New | 676.36M |
| HARDING LOEVNER LP | 5.39M | New | New | 648.39M |
| FIERA CAPITAL CORP | 5.41M | New | New | 643.97M |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 5.30M | New | New | 631.68M |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 5.15M | New | New | 614.36M |
| CIBC WORLD MARKET INC. | 5.03M | New | New | 602.20M |
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