Wide-moat Canadian National's second-quarter revenue was up 7% as total volume and yield (revenue per carload) flipped positive. Revenue was mostly in line with our expectations as a jump in international intermodal activity offset marked weakness in coal and domestic intermodal, which continues to struggle with heavy competition from the trucking sector.
Over the past year, CN has reinvigorated its precision railroading roots, narrowing the margin gap with peers.
Organic grain carload-volume growth will likely take a breather in 2024 on a less-robust late-2023 harvest and tough export comparisons.
|
Metric
|
CNI
|
UNP
|
CP
|
|---|---|---|---|
Price/Earnings (Normalized) | 21.52 | 22.57 | 29.48 |
Price/Book Value | 5.14 | 8.89 | 2.48 |
Price/Sales | 5.93 | 6.08 | 7.70 |
Price/Cash Flow | 14.55 | 16.47 | 23.40 |
|
Metric
|
CNI
|
UNP
|
CP
|
|---|---|---|---|
Quick Ratio | 0.32 | 0.76 | 0.38 |
Current Ratio | 0.63 | 1.05 | 0.49 |
Interest Coverage | 8.69 | 7.41 | −2.62 |
|
Metric
|
CNI
|
UNP
|
CP
|
|---|---|---|---|
Return on Assets (Normalized) | 9.80% | 9.70% | 10.38% |
Return on Equity (Normalized) | 25.86% | 43.80% | 19.99% |
Return on Invested Capital (Normalized) | 15.02% | 15.24% | 13.57% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| Union Pacific Corp
UNP
| Yfnfmsgpz | Cmxln | $146.6 Bil | |||
| Canadian Pacific Kansas City Ltd
CP
| Hbhwhdf | Sfrzr | $76.8 Bil | |||
| CSX Corp
CSX
| Ktvkdtgn | Nrl | $67.1 Bil | |||
| Norfolk Southern Corp
NSC
| Khyxycd | Plz | $55.9 Bil | |||
| Westinghouse Air Brake Technologies Corp
WAB
| — | Gyfnhr | $28.0 Bil | |||
| Central Japan Railway Co
CJPRF
| — | Bxlwg | $21.8 Bil | |||
| Central Japan Railway Co ADR
CJPRY
| — | Xmvzp | $21.8 Bil | |||
| MTR Corp Ltd ADR
MTCPY
| — | Lzpvqgc | $20.0 Bil | |||
| MTR Corp Ltd
MTRJF
| — | Dbzrb | $20.0 Bil |
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