CSX Corporation (CSX) FY2025 10-K Annual Report

Filed: Feb 12, 2026
Industrials
Railroads, Line-Haul OperatingSEC EDGAR

CSX Corporation (CSX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

CSX Corporation FY2025 10-K Analysis

Business Overview

  • Core business: Rail-based freight transportation including traditional rail, intermodal, trucking, serving diverse markets east of Mississippi River
  • New emphasis: Integration of trucking through Quality Carriers, comprising 6% of 2025 revenue at $816 million
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Management Discussion & Analysis

  • Revenue $14.1B, down 3% YoY ($448M decline) due to lower export coal revenue and merchandise volume, partially offset by merchandise pricing and intermodal volume gains
  • Operating margin 32.1% vs 36.1% (down 400 bps); net earnings $2.9B vs $3.5B (down 17%), EPS $1.54 vs $1.79 (down 14%)
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Risk Factors

  • Regulatory risk from potential new environmental and intermodal transportation rules affecting rail industry compliance costs
  • Macroeconomic threat from tariffs and international trade agreements impacting rail and trucking investment values
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CSX Corporation FY2025 Key Financial Metrics
XBRL

Revenue

$14.1B

-3.1% YoY

Net Income

$2.9B

-16.7% YoY

Operating Margin

32.1%

-399bp YoY

Net Margin

20.5%

-336bp YoY

ROE

22.0%

-579bp YoY

Total Assets

$43.7B

+2.1% YoY

EPS (Diluted)

$1.54

-14.0% YoY

Operating Cash Flow

$4.6B

-12.1% YoY

Source: XBRL data from CSX Corporation FY2025 10-K filing on SEC EDGAR. All figures in USD.

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