NSC
Norfolk Southern Corporation
NSC has slightly lower modeled downside risk, despite its lower overall score.
VRT
Vertiv Holdings Co
VRT has the edge over NSC overall, supported by stronger valuation and stronger fundamentals.
NSC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Stable |
NSC's revenue and profitability are currently healthy, and its cash flow and balance sheet are stable.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
NSC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $216 | -35% |
| Fair | 22x | $268 | -20% |
| Forward | 23x | $333 | — |
| Current | 28x | $333 | — |
| Expensive | 30x | $362 | +8.7% |
Historical ranges are pointers, not guarantees.
NSC's PE is in its expensive range at 28x. If earnings grow as analysts expect, today's price would be 23x next year's earnings, in its fair range.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over NSC in the historical PE scenario, which offers more potential upside but is not a forecast.
NSC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NSC, with profitability improving.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for VRT, with profitability improving.
NSC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.19 | +19% |
| Q3 2026 | $11.93 | -9.1% |
| Q2 2026 | $11.72 | -21% |
| Q1 2026 | $11.87 | -19% |
| Q4 2025 | $12.75 | +10% |
| Q3 2025 | $13.12 | +23% |
| Q2 2025 | $14.81 | +87% |
| Q1 2025 | $14.65 | +136% |
| Q4 2024 | $11.57 | +44% |
NSC earned $11.93 per share over the past year, down 9.1% from the year before.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over NSC on earnings, with more consistent year-over-year improvement.
NSC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.5B | +14% |
| Q2 2026 | $3.5B | +11% |
| Q1 2026 | $3B | +0.2% |
| Q4 2025 | $3B | -1.7% |
| Q3 2025 | $3.1B | +1.7% |
| Q2 2025 | $3.1B | +2.2% |
| Q1 2025 | $3B | -0.4% |
| Q4 2024 | $3B | -1.6% |
NSC's revenue has picked up after three years of holding roughly level: $3.5B last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 33% | -2.8 points |
| Q2 2026 | 32% | -5.3 points |
| Q1 2026 | 29% | -9 points |
| Q4 2025 | 32% | -5.9 points |
| Q3 2025 | 35% | -17 points |
| Q2 2025 | 38% | +0.6 points |
| Q1 2025 | 38% | +31 points |
| Q4 2024 | 37% | +11 points |
NSC has the edge over VRT on profitability, with a higher operating margin.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over NSC on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT's operating margin was 23% last quarter, up 3.5 points from the same quarter a year ago, near the top of its range since 2020.
NSC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $736M | +2.2% |
| Q2 2026 | $615M | +2.2% |
| Q1 2026 | -$38M | -108% |
| Q4 2025 | $334M | +21% |
| Q3 2025 | $720M | +12% |
| Q2 2025 | $602M | +29% |
| Q1 2025 | $501M | +78% |
| Q4 2024 | $276M | +$456M |
NSC still generates free cash flow, though less than at its 2022 peak: $1.6B over the past year.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT generated $3.1B in free cash flow over the past year, up 127% from the year before.
NSC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +200K shares |
| 1 year | +0.2% | +500K shares |
| 3 years | -0.8% | -1.8M shares |
| 5 years | -8.6% | -21.2M shares |
| Available history | -15% | -40.4M shares |
NSC has the edge over VRT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $5M |
| Q4 2025 | — |
| Q3 2025 | $78M |
| Q2 2025 | $208M |
| Q1 2025 | $248M |
| Q4 2024 | — |
NSC has spent almost nothing on buybacks in the past year.
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
NSC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.7x | Moderate |
| Q2 2026 | 2.9x | Moderate |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 2.6x | Moderate |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 2.6x | Moderate |
| Q4 2024 | 2.9x | Moderate |
NSC's net debt is about 2.7 years of its operating earnings (EBITDA), about the same as a year ago.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has the edge over NSC on leverage, with a lower net debt burden relative to earnings.
NSC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.6 | Neutral |
| Stochastic | 52.4 | Neutral |
NSC's weekly RSI is 55 (neutral) and its Stochastic is 52 (neutral).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
NSC PE vs Industrials Sector
| Metric | NSC | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 24x | 16% above |
| PE % | 77 | 58 | 19 pts above |
NSC has the edge over VRT on valuation relative to its sector.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
NSC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $325.1 | 2.5% above |
| 20 week MA | $330.5 | 0.8% above |
| 50 week MA | $312.9 | 6.5% above |
| 100 week MA | $285.5 | 17% above |
| 200 week MA | $257.8 | 29% above |
NSC has the edge over VRT on trend strength, trading above more of its moving averages.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
NSC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $195.2 | $234.4 | +20% |
| 2021 | $234.4 | $287.5 | +23% |
| 2022 | $287.5 | $247.5 | -14% |
| 2023 | $247.5 | $236.4 | -4.5% |
| 2024 | $236.4 | $235.3 | -0.5% |
| 2025 | $235.3 | $291.0 | +24% |
| 2026 YTD | $291.0 | $333.2 | +15% |
NSC has finished lower in three of the last six years. It's up 15% so far in 2026.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over NSC on returns for 2026, with the stronger performance.