Cash flow CSX Corporation Deutsche Boerse AG

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CXR

US1264081035

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Market Closed - Deutsche Boerse AG Other stock markets 02:04:07 2026-07-31 EDT			5-day change	1st Jan Change
43.50 ^EUR	-1.29%		-6.06%	+40.17%

07-31	Rothschild & Co Redburn Adjusts CSX Price Target to $53.24 From $47.50, Maintains Buy Rating	MT
07-31	Argus Research Adjusts CSX Price Target to $56 From $52, Maintains Buy Rating	MT

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Published financial data: CSX CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	12.52B	14.85B	14.66B	14.54B	14.09B
Total Revenues	12.52B	14.85B	14.66B	14.54B	14.09B
Cost of Goods Sold, Total	5.88B	7.46B	7.49B	7.47B	7.67B
Gross Profit	6.64B	7.39B	7.17B	7.07B	6.42B
Depreciation & Amortization - (IS)	1.42B	1.5B	1.61B	1.66B	1.68B
Other Operating Expenses, Total	1.42B	1.5B	1.61B	1.66B	1.68B
Operating Income	5.22B	5.89B	5.56B	5.42B	4.74B
Interest Expense, Total	-722M	-742M	-809M	-832M	-844M
Interest And Investment Income	7M	42M	79M	85M	45M
Net Interest Expenses	-715M	-700M	-730M	-747M	-799M
Income (Loss) On Equity Invest.	-	-	-	-	-
Other Non Operating Income (Expenses)	8M	12M	31M	7M	14M
EBT, Excl. Unusual Items	4.52B	5.2B	4.86B	4.68B	3.96B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-17M	-22M	-	-	-
Impairment of Goodwill	-	-	-	-108M	-164M
Gain (Loss) On Sale Of Assets	454M	238M	34M	11M	-
Asset Writedown	-2M	-4M	-2M	-24M	-26M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	4.95B	5.41B	4.89B	4.56B	3.77B
Income Tax Expense	1.17B	1.25B	1.18B	1.08B	880M
Earnings From Continuing Operations	3.78B	4.17B	3.72B	3.47B	2.89B
Net Income to Company	3.78B	4.17B	3.72B	3.47B	2.89B
Net Income - (IS)	3.78B	4.17B	3.72B	3.47B	2.89B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	3.78B	4.17B	3.72B	3.47B	2.89B
Net Income to Common Excl. Extra Items	3.78B	4.17B	3.72B	3.47B	2.89B
Per Share Items
Net EPS - Basic	1.68	1.95	1.85	1.79	1.54
Basic EPS - Continuing Operations	1.68	1.95	1.85	1.79	1.54
Basic Weighted Average Shares Outstanding	2.25B	2.14B	2.01B	1.94B	1.87B
Net EPS - Diluted	1.68	1.95	1.85	1.79	1.54
Diluted EPS - Continuing Operations	1.68	1.95	1.85	1.79	1.54
Diluted Weighted Average Shares Outstanding	2.26B	2.14B	2.01B	1.94B	1.87B
Normalized Basic EPS	1.25	1.52	1.51	1.51	1.32
Normalized Diluted EPS	1.25	1.52	1.51	1.5	1.32
Dividend Per Share	0.37	0.4	0.44	0.48	0.52
Payout Ratio	22.19	20.45	23.74	26.8	33.64
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	6.64B	7.39B	7.17B	7.07B	6.42B
EBITA	5.22B	5.9B	5.57B	5.43B	4.76B
EBIT	5.22B	5.89B	5.56B	5.42B	4.74B
EBITDAR	6.73B	7.5B	7.28B	7.19B	6.54B
Effective Tax Rate - (Ratio)	23.63	23.05	24.04	23.82	23.35
Current Domestic Taxes	1B	1.13B	1.04B	1.07B	686M
Total Current Taxes	1B	1.13B	1.04B	1.07B	686M
Deferred Domestic Taxes	167M	117M	140M	12M	194M
Total Deferred Taxes	167M	117M	140M	12M	194M
Normalized Net Income	2.82B	3.25B	3.04B	2.92B	2.47B
Interest on Long-Term Debt	6M	6M	6M	6M	6M
Non-Cash Pension Expense	-58M	-73M	-24M	-44M	-28M
Supplemental Operating Expense Items
Net Rental Expense, Total	89M	109M	109M	117M	112M
Imputed Operating Lease Interest Expense	30.14M	36.32M	37.21M	40.58M	39.09M
Imputed Operating Lease Depreciation	58.86M	72.68M	71.79M	76.42M	72.91M
Stock-Based Comp., COGS (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	107M	74M	60M	40M	54M
Total Stock-Based Compensation	107M	74M	60M	40M	54M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.24B	1.96B	1.35B	933M	670M
Short Term Investments	77M	129M	83M	72M	5M
Total Cash And Short Term Investments	2.32B	2.09B	1.44B	1B	675M
Accounts Receivable, Total	1.15B	1.31B	1.39B	1.33B	1.3B
Total Receivables	1.15B	1.31B	1.39B	1.33B	1.3B
Inventory	339M	341M	446M	414M	390M
Other Current Assets, Total	70M	108M	109M	75M	187M
Total Current Assets	3.87B	3.85B	3.38B	2.82B	2.55B
Gross Property Plant And Equipment	47.01B	48.61B	50.82B	52.68B	54.28B
Accumulated Depreciation	-13.49B	-13.86B	-15.38B	-16.53B	-17B
Net Property Plant And Equipment	33.52B	34.75B	35.43B	36.14B	37.28B
Long-term Investments	2.28B	2.49B	2.56B	2.67B	2.82B
Goodwill	276M	319M	325M	239M	80M
Other Intangibles, Total	175M	183M	181M	194M	187M
Other Long-Term Assets, Total	414M	328M	523M	697M	765M
Total Assets	40.53B	41.91B	42.41B	42.76B	43.68B
Liabilities
Accounts Payable, Total	963M	1.13B	1.24B	1.29B	1.15B
Accrued Expenses, Total	711M	810M	610M	575M	647M
Current Portion of Long-Term Debt	181M	151M	558M	606M	708M
Current Portion of Leases	64M	69M	68M	73M	67M
Current Income Taxes Payable	134M	111M	525M	508M	118M
Other Current Liabilities	180M	200M	226M	224M	444M
Total Current Liabilities	2.23B	2.47B	3.22B	3.28B	3.13B
Long-Term Debt	16.14B	17.98B	18.06B	18.01B	18.24B
Long-Term Leases	525M	517M	508M	496M	494M
Pension & Other Post Retirement Benefits	313M	188M	182M	169M	169M
Deferred Tax Liability Non Current	7.38B	7.57B	7.75B	7.72B	7.91B
Other Non Current Liabilities	439M	557M	550M	581M	575M
Total Liabilities	27.03B	29.29B	30.28B	30.26B	30.52B
Common Stock, Total	2.2B	2.07B	1.96B	1.9B	1.86B
Retained Earnings	11.63B	10.36B	9.79B	9.99B	10.56B
Comprehensive Income and Other	-342M	186M	379M	614M	735M
Total Common Equity	13.49B	12.62B	12.13B	12.5B	13.16B
Minority Interest	10M	10M	5M	5M	5M
Total Equity	13.5B	12.62B	12.13B	12.51B	13.16B
Total Liabilities And Equity	40.53B	41.91B	42.41B	42.76B	43.68B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.19B	2.06B	1.96B	1.89B	1.86B
ECS Total Common Shares Outstanding	2.2B	2.07B	1.96B	1.9B	1.86B
Book Value / Share	6.13	6.1	6.19	6.58	7.07
Tangible Book Value	13.04B	12.11B	11.62B	12.07B	12.89B
Tangible Book Value Per Share	5.92	5.86	5.93	6.35	6.93
Total Debt	16.91B	18.72B	19.2B	19.18B	19.51B
Net Debt	14.59B	16.64B	17.76B	18.18B	18.83B
Debt Equivalent of Unfunded Proj. Benefit Obligation	6M	-2.33B	-79M	-217M	-261M
Debt Equivalent Oper. Leases	712M	872M	872M	936M	896M
Minority Interest, Total (Incl. Fin. Div)	10M	10M	5M	5M	5M
Equity Method Investments, Total	2.1B	2.29B	2.4B	2.52B	2.63B
Account Code - Inventory Valuation	6	6	6	6	6
Land - (BS)	1.88B	2.27B	2.27B	2.28B	2.29B
Buildings, Total	1.39B	1.42B	1.53B	1.5B	1.58B
Machinery, Total	10.12B	10.3B	10.64B	11.16B	11.26B
Full Time Employees	20.9K	22.5K	23K	23.5K	23K
Accumulated Allowance for Doubtful Accounts (Supple)	28M	33M	32M	29M	38M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	3.78B	4.17B	3.72B	3.47B	2.89B
Depreciation & Amortization - CF	1.42B	1.49B	1.6B	1.65B	1.67B
Amortization of Goodwill and Intangible Assets - (CF)	-	10M	10M	12M	12M
Depreciation & Amortization, Total	1.42B	1.5B	1.61B	1.66B	1.68B
(Gain) Loss From Sale Of Asset	-454M	-238M	-34M	-11M	-
Asset Writedown & Restructuring Costs	-	-	-	108M	164M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Other Operating Activities, Total	179M	100M	135M	-52M	124M
Change In Accounts Receivable	-141M	-101M	-51M	82M	88M
Change In Accounts Payable	128M	140M	83M	-5M	40M
Change In Income Taxes	72M	-39M	431M	-19M	-399M
Change in Other Net Operating Assets	114M	91M	-341M	16M	27M
Cash from Operations	5.1B	5.62B	5.55B	5.25B	4.61B
Capital Expenditure	-1.79B	-2.13B	-2.28B	-2.53B	-2.9B
Sale of Property, Plant, and Equipment	529M	246M	52M	66M	78M
Cash Acquisitions	-541M	-227M	-31M	-70M	-16M
Investment in Marketable and Equity Securities, Total	-70M	-50M	49M	25M	80M
Other Investing Activities, Total	-4M	33M	-76M	-97M	-91M
Cash from Investing	-1.88B	-2.13B	-2.29B	-2.6B	-2.85B
Long-Term Debt Issued, Total	-	2B	600M	550M	900M
Total Debt Issued	-	2B	600M	550M	900M
Long-Term Debt Repaid, Total	-426M	-186M	-153M	-558M	-613M
Total Debt Repaid	-426M	-186M	-153M	-558M	-613M
Repurchase of Common Stock	-2.89B	-4.73B	-3.48B	-2.24B	-1.4B
Common Dividends Paid	-839M	-852M	-882M	-930M	-972M
Common & Preferred Stock Dividends Paid	-839M	-852M	-882M	-930M	-972M
Other Financing Activities, Total	39M	-	50M	113M	56M
Cash from Financing	-4.11B	-3.77B	-3.87B	-3.06B	-2.02B
Net Change in Cash	-890M	-281M	-605M	-420M	-263M
Supplemental Items
Cash Interest Paid	718M	729M	806M	850M	870M
Cash Income Tax Paid (Refund)	931M	1.17B	630M	1.08B	1.1B
Levered Free Cash Flow	2.72B	2.72B	2.52B	2.14B	970M
Unlevered Free Cash Flow	3.17B	3.18B	3.02B	2.66B	1.5B
Change In Net Working Capital	-168M	-58M	-161M	-108M	299M
Net Debt Issued / Repaid	-426M	1.81B	447M	-8M	287M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	8.13	8.93	8.24	7.97	6.86
Return on Total Capital	10.75	11.92	11.08	10.77	9.21
Return On Equity %	28.42	31.89	30.01	28.34	22.51
Return on Common Equity	28.44	31.92	30.03	28.35	22.52
Margin Analysis
Gross Profit Margin %	53.05	49.75	48.91	48.65	45.59
EBITDA Margin %	53.05	49.75	48.91	48.65	45.59
EBITA Margin %	41.71	39.72	37.99	37.33	33.75
EBIT Margin %	41.71	39.66	37.92	37.25	33.66
Income From Continuing Operations Margin %	30.19	28.05	25.35	23.87	20.5
Net Income Margin %	30.19	28.05	25.35	23.87	20.5
Net Avail. For Common Margin %	30.19	28.05	25.35	23.87	20.5
Normalized Net Income Margin	22.54	21.89	20.72	20.1	17.56
Levered Free Cash Flow Margin	21.7	18.29	17.19	14.73	6.89
Unlevered Free Cash Flow Margin	25.3	21.41	20.64	18.31	10.63
Asset Turnover
Asset Turnover	0.31	0.36	0.35	0.34	0.33
Fixed Assets Turnover	0.38	0.44	0.42	0.41	0.38
Receivables Turnover (Average Receivables)	12.16	12.07	10.83	10.7	10.74
Inventory Turnover (Average Inventory)	18.34	21.95	19.03	17.48	19.07
Short Term Liquidity
Current Ratio	1.73	1.56	1.05	0.86	0.81
Quick Ratio	1.55	1.38	0.88	0.71	0.63
Operating Cash Flow to Current Liabilities	2.28	2.27	1.72	1.6	1.47
Days Sales Outstanding (Average Receivables)	30.02	30.24	33.69	34.22	33.98
Days Outstanding Inventory (Average Inventory)	19.9	16.63	19.18	20.93	19.14
Average Days Payable Outstanding	54.66	51.17	56.89	62.16	54.12
Cash Conversion Cycle (Average Days)	-4.74	-4.3	-4.02	-7	-1.01
Long Term Solvency
Total Debt/Equity	125.24	148.29	158.24	153.39	148.22
Total Debt / Total Capital	55.6	59.72	61.28	60.54	59.71
LT Debt/Equity	123.43	146.55	153.08	147.97	142.33
Long-Term Debt / Total Capital	54.8	59.02	59.28	58.39	57.34
Total Liabilities / Total Assets	66.69	69.88	71.39	70.75	69.87
EBIT / Interest Expense	7.23	7.94	6.87	6.51	5.62
EBITDA / Interest Expense	9.32	10.11	9	8.64	7.74
(EBITDA - Capex) / Interest Expense	6.84	7.23	6.18	5.6	4.31
Total Debt / EBITDA	2.51	2.5	2.64	2.67	2.98
Net Debt / EBITDA	2.17	2.22	2.44	2.53	2.88
Total Debt / (EBITDA - Capex)	3.42	3.49	3.84	4.12	5.37
Net Debt / (EBITDA - Capex)	2.95	3.1	3.55	3.9	5.18
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	18.32	18.62	-1.32	-0.8	-3.08
Gross Profit, 1 Yr. Growth %	15.33	11.08	-2.99	-0.41	-9.33
EBITDA, 1 Yr. Growth %	15.33	11.08	-2.99	-0.41	-9.33
EBITA, 1 Yr. Growth %	19.33	12.64	-5.63	-1.42	-12.56
EBIT, 1 Yr. Growth %	19.33	12.55	-5.64	-1.46	-12.59
Earnings From Cont. Operations, 1 Yr. Growth %	36.74	10.18	-10.83	-5.4	-16.74
Net Income, 1 Yr. Growth %	36.74	10.18	-10.83	-5.4	-16.74
Normalized Net Income, 1 Yr. Growth %	23.79	14.94	-6.59	-2.52	-15.53
Diluted EPS Before Extra, 1 Yr. Growth %	40	16.07	-5.13	-1.67	-13.95
Accounts Receivable, 1 Yr. Growth %	25.88	14.37	6.09	-4.81	-2.11
Inventory, 1 Yr. Growth %	12.25	0.59	30.79	-5.91	-5.8
Net Property, Plant and Equip., 1 Yr. Growth %	1.82	3.67	1.97	2.63	3.13
Total Assets, 1 Yr. Growth %	1.85	3.41	1.18	1.31	2.15
Tangible Book Value, 1 Yr. Growth %	0.01	-7.1	-4.05	5.19	6.79
Common Equity, 1 Yr. Growth %	2.97	-6.49	-3.86	4.36	5.22
Cash From Operations, 1 Yr. Growth %	19.61	10.2	-1.25	-4.84	-12.08
Capital Expenditures, 1 Yr. Growth %	10.15	19.1	6.94	12.05	14.75
Levered Free Cash Flow, 1 Yr. Growth %	51.93	-0.25	-7.27	-15.15	-54.84
Unlevered Free Cash Flow, 1 Yr. Growth %	40.22	0.18	-4.89	-12.15	-43.87
Dividend Per Share, 1 Yr. Growth %	7.28	7.53	10	9.09	8.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.42	18.47	8.19	-1.06	-1.95
Gross Profit, 2 Yr. CAGR %	3.28	13.27	3.81	-1.71	-5.13
EBITDA, 2 Yr. CAGR %	3.28	13.27	3.81	-1.71	-5.13
EBITA, 2 Yr. CAGR %	3.47	16.1	3.15	-3.43	-7.26
EBIT, 2 Yr. CAGR %	3.47	16	3.06	-3.54	-7.38
Earnings From Cont. Operations, 2 Yr. CAGR %	6.54	22.75	-0.88	-8.16	-11.25
Net Income, 2 Yr. CAGR %	6.54	22.75	-0.88	-8.16	-11.25
Normalized Net Income, 2 Yr. CAGR %	3.73	19.41	3.61	-4.56	-9.47
Diluted EPS Before Extra, 2 Yr. CAGR %	9.94	27.48	4.94	-3.46	-8.01
Accounts Receivable, 2 Yr. CAGR %	7.9	19.99	10.16	0.49	-3.47
Inventory, 2 Yr. CAGR %	13.97	6.26	14.7	10.19	-5.85
Net Property, Plant and Equip., 2 Yr. CAGR %	1.24	2.74	2.82	1.99	2.88
Total Assets, 2 Yr. CAGR %	2.93	2.63	2.29	1.01	1.73
Tangible Book Value, 2 Yr. CAGR %	4.91	-3.61	-5.59	-0.18	5.98
Common Equity, 2 Yr. CAGR %	6.7	-1.87	-5.18	-0.45	4.79
Cash From Operations, 2 Yr. CAGR %	2.53	14.81	4.32	-2.56	-8.53
Capital Expenditures, 2 Yr. CAGR %	3.96	14.53	12.85	9.4	13.39
Levered Free Cash Flow, 2 Yr. CAGR %	5.6	23.25	-3.82	-10.85	-38.26
Unlevered Free Cash Flow, 2 Yr. CAGR %	4.57	18.63	-2.39	-8.2	-29.93
Dividend Per Share, 2 Yr. CAGR %	13.46	6.9	9.05	9.54	8.71
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.73	7.56	11.47	5.11	-1.74
Gross Profit, 3 Yr. CAGR %	1.99	5.87	7.57	2.07	-4.27
EBITDA, 3 Yr. CAGR %	1.99	5.87	7.57	2.07	-4.27
EBITA, 3 Yr. CAGR %	1.94	6.54	8.35	1.23	-6.51
EBIT, 3 Yr. CAGR %	1.94	6.48	8.29	1.15	-6.59
Earnings From Cont. Operations, 3 Yr. CAGR %	4.54	7.74	10.35	-2.82	-11.12
Net Income, 3 Yr. CAGR %	4.54	7.74	10.35	-2.82	-11.12
Normalized Net Income, 3 Yr. CAGR %	1.43	7.42	10.03	1.09	-8.29
Diluted EPS Before Extra, 3 Yr. CAGR %	9.49	11.95	15.52	2.13	-7.09
Accounts Receivable, 3 Yr. CAGR %	4.36	10.02	15.16	4.92	-0.38
Inventory, 3 Yr. CAGR %	8.83	9.32	13.88	6.89	4.58
Net Property, Plant and Equip., 3 Yr. CAGR %	1.56	2.04	2.49	2.55	2.37
Total Assets, 3 Yr. CAGR %	3.34	3.09	2.14	1.8	1.39
Tangible Book Value, 3 Yr. CAGR %	1.25	0.74	-3.76	-2.54	2.09
Common Equity, 3 Yr. CAGR %	2.4	2.11	-2.54	-2.5	1.41
Cash From Operations, 3 Yr. CAGR %	3.19	5.03	9.19	0.96	-5.84
Capital Expenditures, 3 Yr. CAGR %	0.87	8.78	11.94	12.19	11.16
Levered Free Cash Flow, 3 Yr. CAGR %	4.46	3.69	12.1	-7.69	-28.86
Unlevered Free Cash Flow, 3 Yr. CAGR %	4.42	3.15	10.21	-5.7	-22.02
Dividend Per Share, 3 Yr. CAGR %	8.37	11.32	7.93	9.06	9.14
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.5	5.42	3.65	4.02	5.89
Gross Profit, 5 Yr. CAGR %	7.44	7.64	2.74	2.58	2.21
EBITDA, 5 Yr. CAGR %	7.44	7.64	2.74	2.58	2.21
EBITA, 5 Yr. CAGR %	9.36	9.21	2.46	2.16	1.67
EBIT, 5 Yr. CAGR %	9.36	9.17	2.42	2.11	1.62
Earnings From Cont. Operations, 5 Yr. CAGR %	17.14	-5.3	2.34	0.82	0.88
Net Income, 5 Yr. CAGR %	17.14	-5.3	2.34	0.82	0.88
Normalized Net Income, 5 Yr. CAGR %	9.6	8.3	2.34	2.18	1.65
Diluted EPS Before Extra, 5 Yr. CAGR %	22.75	-0.47	7.64	5.18	5.12
Accounts Receivable, 5 Yr. CAGR %	4.12	6.24	6.64	6.1	7.31
Inventory, 5 Yr. CAGR %	-3.59	-1.73	11.14	9.67	5.25
Net Property, Plant and Equip., 5 Yr. CAGR %	1.47	1.81	2.06	2.02	2.52
Total Assets, 5 Yr. CAGR %	2.74	3.24	2.92	2.25	1.88
Tangible Book Value, 5 Yr. CAGR %	2.34	-3.8	-1.55	0.37	-0.23
Common Equity, 5 Yr. CAGR %	2.93	-3.02	-0.7	1.08	0.08
Cash From Operations, 5 Yr. CAGR %	10.89	10.11	3.64	1.59	1.59
Capital Expenditures, 5 Yr. CAGR %	-5.67	0.9	5.5	8.82	12.28
Levered Free Cash Flow, 5 Yr. CAGR %	48.44	12.12	1.11	-2.55	-11.51
Unlevered Free Cash Flow, 5 Yr. CAGR %	33.8	11.15	1.68	-1.68	-7.89
Dividend Per Share, 5 Yr. CAGR %	9.24	9	8.45	10.6	8.24