CNI · Intrinsic value
Is Canadian National Railway Company (CNI) overvalued or undervalued?
As of Oct 19, 2026, TickerWorth's valuation lenses put Canadian National Railway Company (CNI) at $40.06 – $140.73, too broad a range to say where the delayed market price of $119.89 sits in it, so we do not call it over- or undervalued. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from market data · Updated Oct 19, 2026 · How these pages are made
What is CNI worth?
- Fair-value range
- $40.06 – $140.73
- Market price
- $119.89
- Gap to fair value
- —
- Verdict
- Too wide to call
Reverse DCF: Today's price implies revenue growth of 11.0% a year for 5 years; our model assumes 7.6% a year on average over the same horizon.
What is CNI's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Industrials companies in US
Its strongest point: a profitable, high-quality business. Its weakest: balance sheet looks stretched.
- Value · 63 of 100
Cheaper than 63% of Industrials companies in US
- Price vs worth · 32 of 100
- Quality · 90 of 100
More profitable than 90% of Industrials companies in US
- Financial health · 22 of 100
Financially stronger than 22% of Industrials companies in US
- Growth · 34 of 100
Growing faster than 34% of Industrials companies in US
- Momentum · 71 of 100
Outperformed 71% of Industrials companies in US over the past year
Confidence: Medium confidence · Scored
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Why CNI gets a range, not one number
At a recent price of $119.89, Canadian National Railway Company (CNI) sits inside a range too wide to call either way: our valuation lenses put the business somewhere between $40.06 and $140.73 per share. They disagree too widely for us to state a single fair value. We publish the range rather than a midpoint because a number that precise would claim more than the methods can support. This is an educational model, not a price target or a recommendation.
Read the full reasoning
The valuation discounts Canadian National Railway Company's projected free cash flows at a weighted-average cost of capital (WACC) of 9.1%, with a long-run terminal growth rate of 2.5%. About 74% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 11.0% annual revenue growth for CNI. Our base case instead compounds to about 7.6% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, CNI's modeled DCF value ranges from about $69.62 to $174.99 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Canadian National Railway Company would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of CNI's intrinsic value. Figures update as new filings and prices come in.
Every input behind CNI's DCF
| Input | Value |
|---|---|
| Base-year revenueLive feed — totalRevenue (TTM) | $12,557,090,000 |
| Base EBIT marginComputed — trailing operatingMargins, held roughly flat | 40.3% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 11% → 9% → 8% → 6% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.2% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 0.99 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesLive feed — sharesOutstanding | 604M |
| Market priceLast known price · as of 2026-10-19 19:22 UTC | $119.89 |
Change CNI's assumptions
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What does Canadian National Railway Company do?
What does it do?
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 operates in the Railroads industry (Industrials sector), headquartered in Canada. The company employs roughly 23,825 people.
How does it make money?
The business turns $17.8B in annual revenue into profit. Out of every $100 of sales, about $40 is left as operating profit (operating margin of 40.3%), after a 56% gross margin on the products/services it sells. After all costs, taxes and interest, 26.9% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries moderate debt (1.0× equity), may struggle to cover its short-term bills (0.9× current ratio), and is currently profitable.
CNI insider trading
We have no recent SEC Form 4 insider filings on file for Canadian National Railway Company. Form 4 covers US-listed companies only.
Common questions
What is CNI's intrinsic value?
TickerWorth's valuation lenses put Canadian National Railway Company (CNI) between $40.06 and $140.73 per share, versus a market price of $119.89. They disagree too widely for us to state a single fair value, so we publish the range.
Is CNI overvalued or undervalued?
At $119.89 the price sits inside a range too wide to call either way. We don't call CNI overvalued or undervalued from a range this wide. This is an educational estimate, not advice.
What discount rate is used for CNI?
A WACC of 9.1% and a terminal growth rate of 2.5%.
Is Canadian National Railway stock undervalued?
TickerWorth's fair-value range for Canadian National Railway Company (CNI) is $40.06 – $140.73 against a market price of $119.89. Too wide to call. We publish a range here, not one number, so we do not call it over- or undervalued. This is a model estimate, not investment advice.
Canadian National Railway (CNI) DCF valuation and fair value
Our fair-value range for Canadian National Railway Company (CNI) is $40.06 – $140.73, built on a 9.1% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Canadian National Railway stock?
Today's price implies revenue growth of 11.0% a year for 5 years; our model assumes 7.6% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $119.89. A model estimate, not investment advice.
Canadian National Railway (CNI) insider trading
We have no recent SEC Form 4 insider filings on file for Canadian National Railway Company (CNI). Form 4 covers US-listed companies only.
Other ways into the coverage
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.