The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

CNR.TO

Concerning the House

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and related transportation businesses in Canada and the United States. The company provides rail services, which include equipment, customs brokerage, transloading and warehousing, business development, dimensional loads, and private railcar storage, less-than-truckload, and mexico services; intermodal services, such as temperature controlled multimodal, mobile transport trays, port partnerships, transloading and distribution, logistics parks, trucking, and supply chain services. It also offers connecting to rail, short lines, maps and network services. The company serves automotive, coal, fertilizers, temperature controlled cargo, forest products, dimensional, grain, metal and minerals, petroleum and chemicals, consumer goods, and third party logistics applications. Canadian National Railway Company was incorporated in 1919 and is headquartered in Montreal, Canada.

Canada · www.cn.ca

The Ledger
LineJun 2025Sep 2025Dec 2025Mar 2026
Revenue$4.27B$4.17B$4.46B$4.38B
Gross profit$1.83B$1.77B$1.96B$1.76B
Operating income$1.64B$1.61B$1.73B$1.55B
Net income$1.17B$1.14B$1.25B$1.15B
Diluted EPS1.872.031.87
Free cash flow$940.00M$808.00M$998.00M$826.00M
CapEx-$805.00M-$1.10B-$1.23B-$439.00M
Quotation

$177.78

+1.77 (+1.0%)

52w hi$183.92
52w lo$124.88
Vol1.50M
As ofAug 13
The Verdict

Buy

Our score +0.57

Short+0.67
Medium+0.61
Long+0.28

computed 2026-08-13

By the Numbers

Canadian National Railway Company

Industrials · Railroads

Market cap$107.54B
Enterprise value$128.77B
Trailing P/E22.79x
Forward P/E19.76x
EV / EBITDA14.08x
P / S (ttm)6.05x
Profit margin26.9%
Return on equity22.0%
Revenue growth+11.3%
Earnings growth+10.2%
Debt / equity103.89
Risk Metrics
Beta vs SPX0.48
Corr SPX0.37
Annual vol21.4%
Annual ret+9.4%
Sharpe0.44
Max DD-23.0%

Window: 504 trading days (493 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.21
Sector+0.07
Technical+0.44
Earnings+0.00
Sentiment+0.05

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$177.09$178.54$177.08$177.781.50M
Aug 12$175.51$176.60$175.16$176.011.10M
Aug 11$174.52$176.07$174.44$175.721.58M
Aug 10$175.82$177.46$173.84$174.342.39M
Aug 7$176.70$177.95$175.73$176.521.86M