Csx Corp
CSX
Railroads, Line-Haul Operating
Mkt Cap
$65.45BPE
18.08Debt
$18.5BCash
$1.483BEV
$82.47BFCF
$3.02BP/E Ratio
18.08Debt
$18.5BCash
$1.483BEV
$82.47BFCF
$3.02BCharts data: {"Earnings":[{"time":"2014-12-25","value":1927000000},{"time":"2015-12-24","value":1968000000},{"time":"2016-12-29","value":1714000000},{"time":"2017-12-30","value":5471000000},{"time":"2018-12-30","value":3309000000},{"time":"2019-12-30","value":3331000000},{"time":"2020-12-30","value":2765000000},{"time":"2021-12-30","value":3781000000},{"time":"2022-12-30","value":4166000000},{"time":"2023-12-30","value":3715000000}],"Sales":[{"time":"2014-12-25","value":12669000000},{"time":"2015-12-24","value":11811000000},{"time":"2016-12-29","value":11069000000},{"time":"2017-12-30","value":11408000000},{"time":"2018-12-30","value":12250000000},{"time":"2019-12-30","value":11937000000},{"time":"2020-12-30","value":10583000000},{"time":"2021-12-30","value":12522000000},{"time":"2022-12-30","value":14853000000},{"time":"2023-12-30","value":14657000000}],"Net Margins":[{"time":"2014-12-25","value":0.15210355987055016},{"time":"2015-12-24","value":0.1666243332486665},{"time":"2016-12-29","value":0.15484686963592015},{"time":"2017-12-30","value":0.4795757363253857},{"time":"2018-12-30","value":0.2701224489795918},{"time":"2019-12-30","value":0.2790483371031247},{"time":"2020-12-30","value":0.26126807143532077},{"time":"2021-12-30","value":0.301948570515892},{"time":"2022-12-30","value":0.280482057496802},{"time":"2023-12-30","value":0.25346250938118303}],"Assets":[{"time":"2014-12-25","value":33053000000},{"time":"2015-12-24","value":35039000000},{"time":"2016-12-29","value":35414000000},{"time":"2017-12-30","value":35739000000},{"time":"2018-12-30","value":36729000000},{"time":"2019-12-30","value":38257000000},{"time":"2020-12-30","value":39793000000},{"time":"2021-12-30","value":40531000000},{"time":"2022-12-30","value":41912000000},{"time":"2023-12-30","value":42408000000}],"Stockholders Equity":[{"time":"2014-12-25","value":11176000000},{"time":"2015-12-24","value":11668000000},{"time":"2016-12-29","value":11694000000},{"time":"2017-12-30","value":14721000000},{"time":"2018-12-30","value":12580000000},{"time":"2019-12-30","value":11863000000},{"time":"2020-12-30","value":13110000000},{"time":"2021-12-30","value":13500000000},{"time":"2022-12-30","value":12625000000},{"time":"2023-12-30","value":12133000000}],"ROE":[{"time":"2014-12-25","value":0.17242304939155334},{"time":"2015-12-24","value":0.16866643812135756},{"time":"2016-12-29","value":0.14657089105524201},{"time":"2017-12-30","value":0.3716459479654915},{"time":"2018-12-30","value":0.26303656597774244},{"time":"2019-12-30","value":0.28078900783950095},{"time":"2020-12-30","value":0.21090770404271547},{"time":"2021-12-30","value":0.2800740740740741},{"time":"2022-12-30","value":0.329980198019802},{"time":"2023-12-30","value":0.3061897304871013}],"ROA":[{"time":"2014-12-25","value":0.10930929113847457},{"time":"2015-12-24","value":0.10228602414452467},{"time":"2016-12-29","value":0.09569661715705653},{"time":"2017-12-30","value":0.10260499734183945},{"time":"2018-12-30","value":0.1325655476598873},{"time":"2019-12-30","value":0.12978017094910735},{"time":"2020-12-30","value":0.1096172693689845},{"time":"2021-12-30","value":0.13801781352544965},{"time":"2022-12-30","value":0.14370585989692689},{"time":"2023-12-30","value":0.13113091869458593}]}
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities. The company also offers intermodal transportation services through a network of approximately 30 terminals transporting manufactured consumer goods in containers; and drayage services, including the pickup and delivery of intermodal shipments. It serves the automotive industry with distribution centers and storage locations, as well as connects non-rail served customers through transferring products, such as plastics and ethanol from rail to trucks. The company operates approximately 20,000 route mile rail network, which serves various population centers in 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec, as well as owns and leases approximately 3,600 locomotives. It also serves production and distribution facilities through track connections. CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida.
![CP Logo](data:image/svg+xml,<svg xmlns='http://www.w3.org/2000/svg' width='18' height='18'><defs><linearGradient id="a" x1="3.349" x2="21.904" y1="3.122" y2="24.434" gradientUnits="userSpaceOnUse"><stop stop-color="%231A1E21"/><stop offset="1" stop-color="%2306060A"/></linearGradient></defs><path fill="url(%23a)" d="M0 0h18v18H0z"/><text x='50%' y='52%' dominant-baseline='middle' text-anchor='middle' font-size='5' font-family='sans-serif' fill='gray'>CP</text></svg>){kind=small}
DCF
Discounted Cash Flow Valuation of Csx Corp
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $3.02B | $3.662B | $4.373B | $5.145B | $5.959B | $6.795B | $7.625B | $8.419B | $9.144B | $9.766B | $10.25B | $102.5B |
| DCF | $3.184B | $3.307B | $3.383B | $3.407B | $3.378B | $3.297B | $3.165B | $2.989B | $2.776B | $2.535B | $25.35B | |
| Value | $56.77B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 8.8%
Earnings Stability 32%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 17% | 15% | 48% | 27% | 28% | 26% | 30% | 28% | 25% | 25% |
| ROA | 10% | 9.6% | 10% | 13% | 13% | 11% | 14% | 14% | 13% | 13% |
| ROE | 17% | 15% | 37% | 26% | 28% | 21% | 28% | 33% | 31% | 29% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +27.44%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -0.11%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +13.08%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +0.18%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +27.85%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +1.24%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 13.25 | 17.56 | 8.25 | 5.10 | 5.09 | 6.33 | 4.95 | 5.18 | 5.67 | 6.13 |
| Debt Equity | 0.92 | 0.97 | 0.80 | 1.17 | 1.37 | 1.27 | 1.21 | 1.43 | 1.53 | 1.47 |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 100% | 95% | 68% | 100% | 100% | 100% | 68% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 6.13.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 0.05.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.68.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 4.1% | 3.7% | 11% | -1.3% | 1.8% |
| Net Income | 12% | 2.3% | 10% | -11% | -5.4% |
| Stockholders Equity | 0.53% | -0.72% | -2.5% | -3.9% | -1.2% |
| FCF | 26% | 2.4% | 7.4% | -6.3% | -3.7% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +3.65%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +1.8%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +2.34%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -5.42%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -0.72%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -1.23%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +2.45%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -3.72%.