# CSX (CSX) Forecast Calculator

Interactive five-year financial forecast and DCF for CSX. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/csx/forecast
- Industry: Industrials
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 11937000000 | 3193000000 | 6314000000 | 3331000000 |
| 2022 | 10583000000 | 2637000000 | 5745000000 | 2765000000 |
| 2023 | 12522000000 | 3308000000 | 7014000000 | 3781000000 |
| 2024 | 14853000000 | 3413000000 | 7456000000 | 4114000000 |
| 2025 | 14657000000 | 3257000000 | 7106000000 | 3668000000 |

## Frequently asked questions

### What does CSX Corporation do?

CSX Corporation is a premier Class I freight railroad operating a 20,000 route-mile network across the eastern United States and parts of Canada. It transports a broad spectrum of commodities and provides rail-to-truck transload services, connecting major population centers and industrial markets.

### How does CSX Corporation generate revenue?

CSX generates revenue primarily from its Merchandise segment, contributing 64%, followed by Intermodal at 15%, and Coal at 14%, with a smaller 7% from Trucking and Other. Its business model relies on forecasting freight volumes and pricing yields across its extensive rail network.

### What is CSX Corporation's typical capital expenditure as a percentage of revenue?

CSX Corporation historically allocates 15% to 18% of its revenue to capital expenditures, amounting to $2.3 billion to $2.5 billion annually. A significant portion, 70% to 80%, is dedicated to maintenance capex for track infrastructure and rolling stock, while the remainder supports growth initiatives.

### What are the key assets considered in CSX Corporation's financial valuation?

In CSX Corporation's financial valuation, Properties (PP&E) are the dominant asset category, representing over 80% of its approximately $42 billion to $43 billion in total assets. These assets, including track structure, locomotives, and terminal facilities, have very long useful lives and are central to its asset-heavy business model.

### Can I download an Excel financial model for CSX Corporation?

Yes, an Excel financial model for CSX Corporation is available for download, covering a forecast horizon from FY2026 to FY2030. This general corporate model is designed to evaluate the company's equity valuation and credit profile by forecasting key operational and financial metrics.

### What are the primary competitive factors for CSX Corporation?

CSX Corporation operates in a duopoly in the eastern United States alongside Norfolk Southern, which is a primary competitive factor for rail freight. The company also competes broadly with the trucking industry for intermodal and merchandise freight, influencing its market strategies.