NORFOLK SOUTHERN CORP (NSC) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: April 24, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 0.22% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

220M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

NSC currently has 225M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 0.22% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Apr 24, 2026	10-Q filing \| 224.5M shares outstanding	220M
Oct 23, 2025	10-Q filing \| 224.4M shares outstanding	220M
Apr 23, 2025	10-Q filing \| 226.1M shares outstanding	230M
Feb 10, 2025	10-K filing \| 226.4M shares outstanding	230M
Oct 22, 2024	10-Q filing \| 226.2M shares outstanding	230M
Jul 26, 2024	10-Q filing \| 226.0M shares outstanding	230M
Apr 24, 2024	10-Q filing \| 225.8M shares outstanding	230M
Feb 05, 2024	10-K filing \| 226.9M shares outstanding	230M
Oct 25, 2023	10-Q filing \| 226.4M shares outstanding	230M
Jul 27, 2023	10-Q filing \| 227.5M shares outstanding	230M
Apr 26, 2023	10-Q filing \| 227.7M shares outstanding	230M
Feb 03, 2023	10-K filing \| 234.8M shares outstanding	230M
Oct 26, 2022	10-Q filing \| 233.2M shares outstanding	230M
Jul 27, 2022	10-Q filing \| 236.7M shares outstanding	240M
Apr 27, 2022	10-Q filing \| 239.3M shares outstanding	240M
Feb 04, 2022	10-K filing \| 246.9M shares outstanding	250M
Oct 27, 2021	10-Q filing \| 245.3M shares outstanding	250M
Jul 28, 2021	10-Q filing \| 248.9M shares outstanding	250M
Apr 28, 2021	10-Q filing \| 251.4M shares outstanding	250M
Feb 04, 2021	10-K filing \| 255.1M shares outstanding	260M
Oct 28, 2020	10-Q filing \| 254.6M shares outstanding	250M
Jul 29, 2020	10-Q filing \| 255.4M shares outstanding	260M
Apr 29, 2020	10-Q filing \| 257.3M shares outstanding	260M
Feb 06, 2020	10-K filing \| 263.3M shares outstanding	260M

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