Canadian National Railway (CNI)
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Fiscal Year End Date: 12/31
(Values in U.S. thousands)
| 03-2026 | 12-2025 | 09-2025 | 06-2025 | 03-2025 | |
| Cash Flows From Operating Activities | |||||
| Net Income | 835,319 | 3,378,104 | 2,520,325 | 1,686,759 | 808,520 |
| Depreciation Amortization | 352,788 | 1,387,027 | 1,075,784 | 709,986 | 343,325 |
| Income taxes - deferred | 32,801 | 239,044 | 137,921 | 70,854 | 14,624 |
| Accounts receivable | -91,113 | 65,844 | -29,036 | 31,089 | -61,283 |
| Other Working Capital | -185,141 | 118,091 | -108,159 | -255,942 | -316,862 |
| Other Operating Activity | -22,596 | -143,141 | -96,545 | -139,539 | 22,285 |
| Operating Cash Flow | $922,059 | $5,044,969 | $3,500,290 | $2,103,207 | $810,610 |
| Cash Flows From Investing Activities | |||||
| PPE Investments | -258,760 | -2,618,031 | -1,763,211 | -957,252 | -361,432 |
| Other Investing Activity | -7,289 | -39,363 | -37,747 | -26,751 | -13,232 |
| Investing Cash Flow | $-266,049 | $-2,657,394 | $-1,800,958 | $-984,003 | $-374,663 |
| Cash Flows From Financing Activities | |||||
| Change In Short Term Borrowing | 1,083,145 | -438,008 | 18,873 | -501,039 | -73,122 |
| Debt Issued | N/A | 1,406,350 | 722,271 | 719,385 | N/A |
| Debt Repayment | -513,875 | -319,202 | -304,878 | -35,427 | -16,714 |
| Common Stock Issued | 28,427 | 40,079 | 33,391 | 31,812 | 27,160 |
| Common Stock Repurchased | -653,094 | -1,517,284 | -1,094,657 | -338,364 | -114,210 |
| Dividend Paid | -406,726 | -1,580,266 | -1,207,172 | -804,699 | -387,895 |
| Other Financing Activity | -32,071 | -4,294 | 7,259 | -15,183 | 19,499 |
| Financing Cash Flow | $-494,194 | $-2,412,625 | $-1,824,913 | $-943,515 | $-545,281 |
| Exchange Rate Effect | 729 | -2,147 | -1,452 | -2,892 | N/A |
| Beginning Cash Position | 264,591 | 286,996 | 291,086 | 289,923 | 279,256 |
| End Cash Position | 427,135 | 259,799 | 164,053 | 462,720 | 169,922 |
| Net Cash Flow | $162,545 | $-27,197 | $-127,033 | $172,797 | $-109,335 |
| Free Cash Flow | |||||
| Operating Cash Flow | 922,059 | 5,044,969 | 3,500,290 | 2,103,207 | 810,610 |
| Capital Expenditure | -319,987 | -2,618,031 | -1,763,211 | -957,252 | -361,432 |
| Free Cash Flow | 602,071 | 2,426,938 | 1,737,079 | 1,145,955 | 449,178 |