NSC vs. CMI

Last updated Apr 1, 2026

Compare and contrast key facts about Norfolk Southern Corporation (NSC) and Cummins Inc. (CMI).

Performance

NSC vs. CMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Norfolk Southern Corporation (NSC) and Cummins Inc. (CMI). The values are adjusted to include any dividend payments, if applicable.

NSC vs. CMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NSC Norfolk Southern Corporation	-0.16%	25.65%	1.55%	-1.63%	-15.59%	27.26%	24.76%	32.39%	5.22%	36.85%
CMI Cummins Inc.	5.76%	49.36%	48.92%	1.72%	14.09%	-1.68%	30.50%	38.04%	-22.06%	32.74%

Fundamentals

Market Cap NSC : $64.52B CMI : $74.78B
EPS NSC : $12.78 CMI : $20.50
PE Ratio NSC : 22.46 CMI : 26.24
PEG Ratio NSC : 3.41 CMI : 0.29
PS Ratio NSC : 5.30 CMI : 2.22
PB Ratio NSC : 4.15 CMI : 6.06
Total Revenue (TTM) NSC : $12.18B CMI : $33.67B
Gross Profit (TTM) NSC : $5.17B CMI : $8.52B
EBITDA (TTM) NSC : $5.85B CMI : $5.06B

Returns By Period

In the year-to-date period, NSC achieves a -0.16% return, which is significantly lower than CMI's 5.76% return. Over the past 10 years, NSC has underperformed CMI with an annualized return of 15.58%, while CMI has yielded a comparatively higher 20.32% annualized return.

NSC

• 1D: 1.65%
• 1M: -8.81%
• YTD: -0.16%
• 6M: -3.58%
• 1Y: 23.64%
• 3Y*: 13.15%
• 5Y*: 3.27%
• 10Y*: 15.58%

CMI

• 1D: 5.14%
• 1M: -7.85%
• YTD: 5.76%
• 6M: 28.36%
• 1Y: 74.84%
• 3Y*: 34.10%
• 5Y*: 18.65%
• 10Y*: 20.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NSC vs. CMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NSC

NSC Risk / Return Rank: 76
NSC Sharpe Ratio Rank: 77
NSC Sortino Ratio Rank: 71
NSC Omega Ratio Rank: 72
NSC Calmar Ratio Rank: 78
NSC Martin Ratio Rank: 81

CMI

CMI Risk / Return Rank: 92
CMI Sharpe Ratio Rank: 93
CMI Sortino Ratio Rank: 90
CMI Omega Ratio Rank: 90
CMI Calmar Ratio Rank: 93
CMI Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NSC vs. CMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Norfolk Southern Corporation (NSC) and Cummins Inc. (CMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NSC	CMI	Difference
Sharpe ratio Return per unit of total volatility	1.06	2.21	-1.16
Sortino ratio Return per unit of downside risk	1.61	2.81	-1.21
Omega ratio Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio Return relative to maximum drawdown	2.00	4.51	-2.51
Martin ratio Return relative to average drawdown	6.08	15.15	-9.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NSC vs. CMI - Sharpe Ratio Comparison

The current NSC Sharpe Ratio is 1.06, which is lower than the CMI Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of NSC and CMI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NSC	CMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	2.21	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.69	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.73	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.36	+0.05

Correlation

The correlation between NSC and CMI is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NSC vs. CMI - Dividend Comparison

NSC's dividend yield for the trailing twelve months is around 1.88%, more than CMI's 1.45% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NSC Norfolk Southern Corporation	1.88%	1.87%	2.30%	2.28%	2.01%	1.40%	1.58%	1.85%	2.03%	1.68%	2.18%	2.79%
CMI Cummins Inc.	1.45%	1.50%	2.01%	2.71%	2.49%	2.57%	2.33%	2.74%	3.32%	2.38%	2.93%	3.99%

Drawdowns

NSC vs. CMI - Drawdown Comparison

The maximum NSC drawdown since its inception was -67.74%, smaller than the maximum CMI drawdown of -75.66%. Use the drawdown chart below to compare losses from any high point for NSC and CMI.

Drawdown Indicators

	NSC	CMI	Difference
Max Drawdown Largest peak-to-trough decline	-67.74%	-75.66%	+7.92%
Max Drawdown (1Y) Largest decline over 1 year	-13.51%	-16.52%	+3.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.64%	-30.48%	-5.16%
Max Drawdown (10Y) Largest decline over 10 years	-44.42%	-44.05%	-0.37%
Current Drawdown Current decline from peak	-9.70%	-10.86%	+1.16%
Average Drawdown Average peak-to-trough decline	-15.19%	-22.31%	+7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.44%	4.92%	-0.48%

Volatility

NSC vs. CMI - Volatility Comparison

The current volatility for Norfolk Southern Corporation (NSC) is 5.69%, while Cummins Inc. (CMI) has a volatility of 11.07%. This indicates that NSC experiences smaller price fluctuations and is considered to be less risky than CMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NSC	CMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	11.07%	-5.38%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	25.11%	-12.62%
Volatility (1Y) Calculated over the trailing 1-year period	22.63%	34.02%	-11.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.71%	27.09%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	27.88%	-0.24%

Financials

NSC vs. CMI - Profitability Comparison

The chart below illustrates the profitability comparison between Norfolk Southern Corporation and Cummins Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NSC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported a gross profit of 2.10B and revenue of 2.97B. Therefore, the gross margin over that period was 70.5%.

CMI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Cummins Inc. reported a gross profit of 1.95B and revenue of 8.54B. Therefore, the gross margin over that period was 22.9%.

NSC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported an operating income of 937.00M and revenue of 2.97B, resulting in an operating margin of 31.5%.

CMI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Cummins Inc. reported an operating income of 670.00M and revenue of 8.54B, resulting in an operating margin of 7.9%.

NSC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Norfolk Southern Corporation reported a net income of 644.00M and revenue of 2.97B, resulting in a net margin of 21.7%.

CMI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Cummins Inc. reported a net income of 593.00M and revenue of 8.54B, resulting in a net margin of 7.0%.