Canadian National Railway stock | Price, analyst rating, price target & growth

Canadian National Ra...

TSX:CNR

C$ 135,78

C$-1,80 (-1,31%)

135,78 C$

C$-1,80 (-1,31%)

End-of-day quote: 12/05/2025

Canadian National Railway Stock Value

Analysts currently give TSX:CNR a rating of Outperform.

Outperform

Canadian National Railway Company Info

EPS Growth 5Y

4,13%

Market Cap

C$83,57 B

Long-Term Debt

C$19,72 B

Short Interest

2,34%

Annual earnings

01/20/2026

Dividend

C$3,50

Dividend Yield

2,58%

Founded

1919

Industry

Industrials

Country

Canada

ISIN Number

CA1363751027

Website

http://www.cn.ca

Analyst Price Target

C$152,50

12.31%

Last Update: 12/06/2025

Analysts: 20

Highest Price Target C$180,00

Average Price Target C$152,50

Lowest Price Target C$135,00

In the last five quarters, Canadian National Railway’s Price Target has fallen from C$200,68 to C$167,71 - a -16,43% decrease. Twenty Seven analysts predict that Canadian National Railway’s share price will increase in the coming year, reaching C$152,50. This would represent an increase of 12,31%.

Top growth stocks in the industrials sector (5Y.)

What does Canadian National Railway do?

Canadian National Railway Company (CN) engages in the rail and related transportation business and powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the Gulf of Mexico, contributing to sustainable trade and th...

With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the Gulf of Mexico, contributing to sustainable trade and the prosperity of the communities.

CN's freight revenues are derived from seven commodity groups representing a diversified and balanced portfolio of goods transported between a wide range of origins and destinations. For the year ended December 31, 2024, CN's largest commodity group, Intermodal, accounted for 22% of total revenues. From a geographic standpoint, 35% of revenues relate to overseas traffic, 32% to transborder traffic, 17% to Canadian domestic traffic, and 16% to U.S. domestic traffic. The company is the originating carrier for over 85%, and the originating and terminating carrier for over 65%, of traffic moving along its network, which allows it both to capitalize on service advantages and build on opportunities to efficiently use assets.

Commodity Groups

Petroleum and chemicals

The petroleum and chemicals commodity group involves a wide range of commodities, including chemicals and plastics, refined petroleum products, natural gas liquids, crude oil, and sulfur. The primary markets for these commodities are within North America, and, as such, the performance of this commodity group is closely correlated with the North American economy, as well as oil and gas production, petroleum refining activity, pipeline capacities, and related petrochemical commodity prices. Most of the company's petroleum and chemicals shipments originate in the Alberta Industrial Heartland, a key oil and gas development area and a major center for natural gas feedstock and world-scale petrochemicals and plastics. In addition to servicing the Louisiana petrochemical corridor between New Orleans and Baton Rouge, as well as the Sarnia-Lambton Petrochemical and Refining Complex in Southwestern Ontario, the company also supplements pipeline capacity by moving petroleum products from facilities in Saskatchewan, British Columbia, Quebec, and Illinois.

Metals and minerals

The metals and minerals commodity group consists primarily of materials related to oil and gas development, such as frac sand, drilling pipe, and large diameter pipe, steel, iron ore, non-ferrous base metals and ores, raw materials, including scrap metal, industrial materials, including aggregates, construction materials, such as roofing and railway equipment, machinery, and dimensional (large) loads. The company provides rail access to base metals, iron ore, and frac sand mining, as well as aluminum and steel producing regions, which are among the most important in North America. The key drivers for this market segment are oil and gas development, automotive production, and non-residential construction.

Forest Products

The forest products commodity group includes various types of lumber, panels, paper, board, wood pulp, and other fibers, such as logs, recycled paper, wood chips, and wood pellets. The company has extensive rail access to the western and eastern Canadian fiber-producing regions, which are among the largest fiber source areas in North America. In the U.S., the company is strategically located to serve both the Midwest and southern U.S. corridors with efficient interline connections to other railroads and a strong network of transloads extending its reach into its customers’ target markets. The key drivers for the various commodities are, for lumber and panels, North American housing starts, repair and renovation activities; for fibers (mainly wood pulp), the demand for paper, paperboard, tissue, and other personal care products in both North American and offshore markets; and for paper and board, the increasing packaging requirements for eCommerce and general consumer purchases, and the replacement of plastics by fiber-based packaging.

Coal

The coal commodity group consists of metallurgical coal, thermal grades of bituminous coal, petroleum coke, and metallurgical coke. Canadian metallurgical and thermal coal are largely exported via terminals on the west coast of Canada to offshore markets. In the U.S., thermal coal is transported from mines served in southern Illinois, or from western U.S. mines via interchange with other railroads, to major utilities in the Midwest and Southeast U.S., as well as offshore markets via terminals on the U.S. Gulf Coast and inland river system. Petroleum coke, a byproduct of the oil refining process, is exported to offshore markets via terminals on the west coast of Canada, the U.S. Gulf Coast, and inland river system, as well as shipped to industrial users in domestic markets. The key drivers for this market segment are weather conditions, environmental regulations, global energy, coal and steel supply and demand conditions, and, for U.S. domestic utility coal.

Grain and Fertilizers

The grain and fertilizers commodity group depends primarily on crops grown and fertilizers processed in Western Canada and the U.S. Midwest. The grain segment consists of wheat, oats, barley, flaxseed, rye, peas, lentils, corn, corn meal, ethanol, dried distillers grain, canola seed and processed canola products, soybeans and processed soybean products, sweeteners, and animal fat. Production of grain varies considerably from year to year, affected primarily by weather conditions, seeded and harvested acreage, the mix of grains produced, and crop yields. Grain exports are sensitive to the size and quality of the crop produced, international market conditions, and foreign government policy. The majority of grain produced in Western Canada and moved by CN is exported via the ports of Vancouver, Prince Rupert, and Thunder Bay. The company also serves major producers of potash in Canada, as well as producers of ammonium nitrate, anhydrous ammonia, urea, and other fertilizers across Canada and the U.S., and CN delivers the product for North American and export demand. CN also transports imported products to key markets in North America. The key drivers for fertilizers are input prices, demand, government policies, and international competition.

Intermodal

The intermodal commodity group includes rail and trucking services of two markets: domestic intermodal and international intermodal. Domestic intermodal transports consumer products and manufactured goods, serving retail, wholesale, and logistics provider channels, within domestic Canada, domestic U.S., Mexico, and transborder, while international intermodal handles import and export container traffic, serving the major ports of Vancouver, Prince Rupert, Montreal, Halifax, Saint John, New Orleans, and Mobile. CN's network of inland intermodal terminals, located near ports and large urban centers, and a number of interline partnerships with other Class I railroads, connects customers to major markets in North America and overseas. Domestic intermodal is driven by consumer markets, with growth generally tied to the economy. International intermodal is driven by North American economic and trade conditions, as well as global trade patterns. Revenues for CN owned trucking businesses, including TransX, are included in this commodity group within the domestic market.

Automotive

The automotive commodity group moves both domestic finished vehicles and parts throughout North America, providing service to certain vehicle assembly plants in Ontario, Michigan, and Mississippi. The company also serves vehicle distribution facilities in Canada and the U.S., as well as parts production facilities in Michigan and Ontario. The company serves shippers of finished vehicle imports via the ports of Halifax and Vancouver, and through interchange with other railroads for vehicles produced outside CN’s directly served network, including in Mexico. CN's broad network of auto compounds is used to facilitate the distribution of vehicles throughout Canada and the U.S. Midwest. The primary drivers for this market are automotive sales in North America, which are driven by population growth, age of vehicles, and household spending.

Others

Other revenues are derived from non-rail logistics services that support the company's rail business, including vessels and docks, transloading and distribution, automotive logistics, and freight forwarding and transportation management.

Competition

Specifically, the company faces competition from Canadian Pacific Kansas City Limited (CPKC), which operates the other major rail system in Canada and services most of the same industrial areas, commodity resources, and population centers as the company; major U.S. railroads and other Canadian and U.S. railroads; long-distance trucking companies; transportation via the St. Lawrence-Great Lakes Seaway and the Mississippi River; and transportation via pipelines.

Regulation

Economic Regulation

CN's operations are subject to regulations both in Canada and in the U.S. The company's rail operations in Canada are subject to economic regulation by the Canadian Transportation Agency (CTA) under the Canada Transportation Act. The company's U.S. rail operations are subject to economic regulation by the U.S Surface Transportation Board (STB).

Safety Regulation

In Canada, CN's rail operations are subject to safety regulation by the Minister of Transport (Minister) under the Railway Safety Act (RSA), as well as the rail portions of other safety-related statutes, which are administered by Transport Canada (TC). The company is also subject to additional regulatory oversight in Canada under the Transportation of Dangerous Goods Act (TDGA), which is also administered by TC.

The company's U.S. rail operations are subject to safety regulation by the FRA under the Federal Railroad Safety Act, as well as rail portions of other safety statutes, with the transportation of hazardous commodities also governed by regulations promulgated by the Pipeline and Hazardous Materials Safety Administration (PHMSA).

Other Regulations – Canada and U.S.

Vessels - U.S.

CN's vessel operations are subject to regulation by the U.S. Coast Guard and the Department of Transportation, Maritime Administration, which regulate the ownership and operation of vessels operating on the Great Lakes and in the U.S. coastal waters. In addition, in the U.S., the Environmental Protection Agency regulates air emissions from these vessels.

Security - Canada

In Canada, the company is subject to border security regulation by the Canada Border Services Agency (CBSA). In particular, the company is subject to border security arrangements pursuant to an agreement between the company, Canadian Pacific Kansas City Limited (formerly known as Canadian Pacific Railway), and the CBSA.

The company is also required to comply with regulations on agriculture-related shipments crossing the Canada/U.S. border, which are mandated by the Canadian Food Inspection Agency in Canada.

Security - U.S.

The company is subject to statutory and regulatory directives in the U.S. addressing homeland security concerns. In the U.S., the TSA regulates transportation security, which is part of the U.S. Department of Homeland Security (DHS) and PHMSA, which, like the FRA, is part of the U.S. Department of Transportation. Border security falls under the jurisdiction of U.S. Customs and Border Protection (CBP), which is part of the DHS. In particular, the company is subject to regulations against terrorism, regulations imposed by the CBP requiring advance notification by all modes of transportation for all shipments into the U.S., potential security inspections at the Canada/U.S. border, and gamma ray screening of cargo entering the U.S. from Canada, among others.

The company is also required to comply with regulations on agriculture-related shipments crossing the Canada/U.S. border, including inspection requirements for imported fruits and vegetables grown in Canada and an agricultural quarantine and inspection user fee for all traffic entering the U.S. from Canada, which are mandated by the U.S. Department of Agriculture and the Food and Drug Administration.

History

Canadian National Railway Company was founded in 1919. The company was incorporated in 1919.

Canadian National Railway Questions and Answers

Which sectors generate sales and which are the top 3 markets?

Revenue distribution by industry: Intermodal: approx. 25% Raw materials (including oil and gas): approx. 20% Forest products: approx. 15% Metals and minerals: approx. 15% Coal: approx. 10% Automotive: approx. 10% Chemicals and fertilizers: approx. 5% TOP 3 markets and their percentage shares: USA...

At which locations are the company’s products manufactured?

Production Sites: Mainly in Canada and the USA Canadian National Railway Company (CNR) is primarily a transportation and logistics company and does not produce physical products in the traditional sense. The company operates an extensive rail network that spans Canada and the central USA. CNR's focu...

What strategy does Canadian National Railway pursue for future growth?

Revenue growth: 8.5% (2024) Investments in infrastructure: 3.6 billion CAD (2024) Expansion of the route network: 5% (2024) Canadian National Railway Company (CNR) pursues a strategy aimed at sustainable growth through investments in infrastructure and technology. In 2024, the company invested 3.6 b...

Which raw materials are imported and from which countries?

Main imported raw materials: Coal, petroleum, chemicals, grains, fertilizers Countries of origin: Coal: USA Petroleum: USA Chemicals: USA, China Grains: USA Fertilizers: Russia, USA Canadian National Railway Company (CNR) is a significant player in North American rail freight transportation and ca...

How strong is the company’s competitive advantage?

Market share in Canada: 53% (2024) Network length: Over 32,000 kilometers (2024) Operating margin: 38% (2024) Canadian National Railway Company (CNR) possesses a significant competitive advantage that is composed of several factors. Firstly, CNR holds a dominant market share of 53% in the Canadian...

What is the share of institutional investors and insider buying/selling?

Institutional investor share: approx. 70% (estimated for 2025 based on historical data) Insider purchases/sales: No significant changes in recent months (estimated for 2025) The institutional investor share in Canadian National Railway Company traditionally stands at around 70%, indicating the trust...

What percentage market share does Canadian National Railway have?

Market share of Canadian National Railway (CNR): approx. 33% (estimated for 2025) Main competitors and their market shares: Canadian Pacific Kansas City (CPKC): approx. 31% Union Pacific Railroad: approx. 15% BNSF Railway: approx. 12% Norfolk Southern: approx. 5% CSX Transportation: approx. 4% Moa...

Is Canadian National Railway stock currently a good investment?

Revenue growth: 6.5% (2024) Profit growth: 5.2% (2024) Dividend yield: 2.0% (2024) Return on equity (ROE): 23.4% (2024) Canadian National Railway Company (CNR) shows solid revenue and profit growth, indicating a stable business development. The company benefits from a strong market position in North...

Does Canadian National Railway pay a dividend – and how reliable is the payout?

Dividend yield: 1.8% (2025, estimated) Dividend growth: 7% annually (average of the last 5 years) Canadian National Railway Company (CNR) is known for its reliable dividend policy. In recent years, the company has consistently paid dividends and increased them regularly. The current dividend yield i...

Canadian National Railway Stock Value

Canadian National Railway Company Info

Analyst Price Target

Top growth stocks in the industrials sector (5Y.)

What does Canadian National Railway do?

Canadian National Railway Questions and Answers

Offer & Services

Service & Collaboration

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