# Norfolk Southern (NSC.US)

Canonical: https://gigainvestors.com/s/NSC

Analysis as of: 2026-10-16T07:30:40.488Z. Financial observations: FY1996–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $324.83 per share; close as of 2026-10-15.

Estimated value: low $114.98 per share, central $130.33 per share, high $150.77 per share. Buy at or below the central value $130.33 per share. Valuation as of 2026-10-16T07:30:40.488Z; scenarios are not confidence intervals.

Expected annual return: 5.7% at the stated quote. About 5.7% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 4 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 4

- Years with a net loss: 0

- Operating margin variation: 0.12×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.33×

- FY2018: 0.35×

- FY2019: 0.34×

- FY2020: 0.35×

- FY2021: 0.39×

- FY2022: 0.37×

- FY2023: 0.23×

- FY2024: 0.31×

- FY2025: 0.33×

- LTM to Jun 2026: 0.32×

### moat: fail

- ROIC median below threshold

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 10.6%

- ROIC, second-lowest year: 9.2%

- Typical minus recent gross margin: -7.8 pp

- Typical gross margin (annual median): 34.6%

- Recent gross margin (lower of latest and 3-year median): 42.4%

- Years with nonpositive capital: 0

- Capital spending / revenue: 17.5%

- ROIC including acquisitions, ten-year median: 6.9%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 9.2%

- FY2017: 13.8%

- FY2018: 11.6%

- FY2019: 11.1%

- FY2020: 10.1%

- FY2021: 12.5%

- FY2022: 13.4%

- FY2023: 7.8%

- FY2024: 9.8%

- FY2025: 10.1%

### economics: fail

- owner earnings cash conversion below threshold

- Owner earnings / net income, 5-yr: 0.80×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $11B

- Net income, five-year total: $14B

- Return on incremental invested capital: 20.3%

- Working capital / revenue, annual change: -0.6 pp

- Working capital / revenue, change between three-year averages: -3.6 pp

- Working capital / revenue, final three-year average: 0.5%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.00×

- FY2022: 1.00×

- FY2023: 0.42×

- FY2024: 0.61×

- FY2025: 0.77×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 11.6% vs 9.8%

- Per-share earnings: 5.64 to 11.58 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -3.0%

- Ordinary dilution, 5-year annual growth: -2.6%

- Market cap gain: $33B

- Cumulative retained earnings: $2.8B

- Diluted shares, 10-year annual growth: -3.0%

- Diluted shares, 5-year annual growth: -2.6%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 9.4%

- Per-share value change: $5.95

- Per-share value, starting three-year median: $5.64

- Per-share value, ending three-year median: $11.58

- Buybacks concentrated in cheaper years (correlation): 0.53

- Average buyback yield: 3.4%

- Buyback history: 9 years

- Debt-funded buybacks: Yes

- Acquisition spending: $491M

- Cumulative net income, 10 years: $28B

- ROIC, first three-year median: 11.6%

- ROIC, last three-year median: 9.8%

Chart: Earnings per share; fiscal year observations.

- FY2016: $5.64

- FY2017: $18.62

- FY2018: $9.51

- FY2019: $10.25

- FY2020: $7.84

- FY2021: $12.11

- FY2022: $13.88

- FY2023: $8.03

- FY2024: $11.58

- FY2025: $12.75

### accounting: pass

- Sloan accruals: -3.3%

- Receivables to sales index (DSRI): 0.92×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 0.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.52×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 0.00×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -3.9%

- FY2017: 6.0%

- FY2018: -2.9%

- FY2019: -3.1%

- FY2020: -4.3%

- FY2021: -3.2%

- FY2022: -2.4%

- FY2023: -3.2%

- FY2024: -3.3%

- FY2025: -3.3%

## Holders

- [David Hoeft](https://gigainvestors.com/DAC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Thomas Gayner](https://gigainvestors.com/MKL): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andrew Adams](https://gigainvestors.com/MPF): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Daniel Loeb](https://gigainvestors.com/tp): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Price needs cash profits to grow 12.6% a year for ten years · "Norfolk Southern Posts Record Revenue as Freight Demand Strengthens" (finance.yahoo.com, Jul 2026) · sales +3%

Story as of 2026-10-16T09:59:16.501Z; price observation 2026-10-15.

Price needs cash profits to grow 12.6% a year for ten years

- 2025-05-17: Norfolk Southern (NYSE:NSC) Reports Q1 2025 Net Income Surge to US$750 Million ([finance.yahoo.com](https://finance.yahoo.com/news/norfolk-southern-nyse-nsc-reports-172807513.html))

- 2025-07-24: Norfolk Southern stock rises after confirming merger talks with Union Pacific ([finance.yahoo.com](https://finance.yahoo.com/news/norfolk-southern-stock-rises-confirming-133818537.html))

- 2026-02-16: Norfolk Southern Weighs Safety Costs And Merger Attention As Valuation Stretches ([finance.yahoo.com](https://finance.yahoo.com/news/norfolk-southern-weighs-safety-costs-030953351.html))

- 2026-03-16: Norfolk Southern Balances Flat Sales With Rising Costs And Heavy Investment ([finance.yahoo.com](https://finance.yahoo.com/news/norfolk-southern-balances-flat-sales-211032147.html))

- 2026-04-25: Norfolk Southern earnings slip as winter weather impacts rail volume ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/norfolk-southern-earnings-slip-winter-011156278.html))

- 2026-07-23: Norfolk Southern Q2 Earnings Beat on Record Revenue and Volume Growth ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/norfolk-southern-q2-earnings-beat-174300631.html))

### Sales · FY2025–2026

sales +3%; source https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm; observed 2026-02-09.

- FY2017: $11B 

- FY2018: $11B 

- FY2019: $11B 

- FY2020: $9.8B 

- FY2021: $11B 

- FY2022: $13B 

- FY2023: $12B 

- FY2024: $12B 

- FY2025: $12B 

- FY2026: $13B 

### Gross margin · FY2025

gross margin 42.4%; source https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm; observed 2026-02-09.

- FY2016: 31.0% 

- FY2017: 33.4% 

- FY2018: 34.6% 

- FY2019: 34.5% 

- FY2020: 34.7% 

- FY2021: 39.2% 

- FY2022: 37.1% 

- FY2023: 50.2% 

- FY2024: 31.0% 

- FY2025: 42.4% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in railroads; annual sales are USD 12.2 billion.

- Source: https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm (filed 2026-02-09); FY2025: revenue 12180000000; grossProfit 5168000000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 31% to 50.2% during 2023–25; it earns 10.6% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2023: grossProfit / revenue = 50.2%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2024: grossProfit / revenue = 31%.

- Source: https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm (filed 2026-02-09); FY2025: grossProfit / revenue = 42.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); 10-year return on capital observations [[2016,0.09210708516039695],[2017,0.13809057047637718],[2018,0.11635532456133901],[2019,0.11103398748312997],[2020,0.10088952724085885],[2021,0.12501824021111846],[2022,0.13446610338910941],[2023,0.07800036478599222],[2024,0.09835173676547518],[2025,0.10101203408956932]]; median 0.10602301078634965. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Spends 7.2% of cash earnings on expansion; earns 20.3% on new investment.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2016: growth capex 0; upkeep 1887000000; owner earnings 842000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2017: growth capex 668000000; upkeep 1055000000; owner earnings 5404000000. Growth capex / owner earnings = 0.1236121391561806.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2018: growth capex 849000000; upkeep 1102000000; owner earnings 2666000000. Growth capex / owner earnings = 0.3184546136534134.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2019: growth capex 0; upkeep 2019000000; owner earnings 1841000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2020: growth capex 0; upkeep 1494000000; owner earnings 1673000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2021: growth capex 289000000; upkeep 1181000000; owner earnings 3005000000. Growth capex / owner earnings = 0.0961730449251248.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2022: growth capex 727000000; upkeep 1221000000; owner earnings 3270000000. Growth capex / owner earnings = 0.22232415902140673.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2023: growth capex 0; upkeep 2349000000; owner earnings 776000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); FY2024: growth capex 0; upkeep 2381000000; owner earnings 1594000000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm (filed 2026-02-09); FY2025: growth capex 160238869.3055501; upkeep 2043761130.69445; owner earnings 2222238869.30555. Growth capex / owner earnings = 0.07210695102080757.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); Incremental return on capital 0.20325200901007268, from the economics test's unchanged annual inputs.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); Dividend observations: [[2016,695000000],[2017,703000000],[2018,844000000],[2019,949000000],[2020,960000000],[2021,1028000000],[2022,1167000000],[2023,1225000000],[2024,1221000000],[2025,1215000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm (filed 2026-02-09); FY2025: cash repurchases 534000000 USD.

### Are managers owners

Insiders own <0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); NSC.US SharesStats.PercentInsiders = 0.045 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits grow 12.6% yearly over ten years; actual growth was 29.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-09); Ten-year compound average after fade. Initial solved rate 0.16926719376557886. Price 324.83; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 0.7555847568988173 → FY2025 9.863465909034844. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $93.00 per share

- 2016-11: $106.46 per share

- 2016-12: $108.07 per share

- 2017-01: $117.46 per share

- 2017-02: $121.03 per share

- 2017-03: $111.97 per share

- 2017-04: $117.49 per share

- 2017-05: $124.03 per share

- 2017-06: $121.70 per share

- 2017-07: $112.58 per share

- 2017-08: $120.52 per share

- 2017-09: $132.24 per share

- 2017-10: $131.42 per share

- 2017-11: $138.63 per share

- 2017-12: $144.90 per share

- 2018-01: $150.88 per share

- 2018-02: $139.08 per share

- 2018-03: $135.78 per share

- 2018-04: $143.47 per share

- 2018-05: $151.65 per share

- 2018-06: $150.87 per share

- 2018-07: $169.00 per share

- 2018-08: $173.84 per share

- 2018-09: $180.50 per share

- 2018-10: $167.83 per share

- 2018-11: $170.74 per share

- 2018-12: $149.54 per share

- 2019-01: $167.74 per share

- 2019-02: $179.30 per share

- 2019-03: $186.89 per share

- 2019-04: $204.02 per share

- 2019-05: $195.14 per share

- 2019-06: $199.33 per share

- 2019-07: $191.12 per share

- 2019-08: $174.05 per share

- 2019-09: $179.66 per share

- 2019-10: $182.00 per share

- 2019-11: $193.50 per share

- 2019-12: $194.13 per share

- 2020-01: $208.21 per share

- 2020-02: $182.35 per share

- 2020-03: $146.00 per share

- 2020-04: $171.10 per share

- 2020-05: $178.29 per share

- 2020-06: $175.57 per share

- 2020-07: $192.21 per share

- 2020-08: $212.53 per share

- 2020-09: $213.99 per share

- 2020-10: $209.12 per share

- 2020-11: $237.02 per share

- 2020-12: $237.61 per share

- 2021-01: $236.62 per share

- 2021-02: $252.06 per share

- 2021-03: $268.52 per share

- 2021-04: $279.24 per share

- 2021-05: $280.90 per share

- 2021-06: $265.41 per share

- 2021-07: $257.83 per share

- 2021-08: $253.54 per share

- 2021-09: $239.25 per share

- 2021-10: $293.05 per share

- 2021-11: $265.27 per share

- 2021-12: $297.71 per share

- 2022-01: $271.99 per share

- 2022-02: $256.52 per share

- 2022-03: $285.22 per share

- 2022-04: $257.88 per share

- 2022-05: $239.66 per share

- 2022-06: $227.29 per share

- 2022-07: $251.17 per share

- 2022-08: $243.13 per share

- 2022-09: $209.65 per share

- 2022-10: $228.07 per share

- 2022-11: $256.50 per share

- 2022-12: $246.42 per share

- 2023-01: $245.81 per share

- 2023-02: $224.82 per share

- 2023-03: $212.00 per share

- 2023-04: $203.03 per share

- 2023-05: $208.18 per share

- 2023-06: $226.76 per share

- 2023-07: $233.59 per share

- 2023-08: $205.01 per share

- 2023-09: $196.93 per share

- 2023-10: $190.79 per share

- 2023-11: $218.16 per share

- 2023-12: $236.38 per share

- 2024-01: $235.24 per share

- 2024-02: $253.38 per share

- 2024-03: $254.87 per share

- 2024-04: $230.32 per share

- 2024-05: $224.80 per share

- 2024-06: $214.69 per share

- 2024-07: $249.56 per share

- 2024-08: $256.16 per share

- 2024-09: $248.50 per share

- 2024-10: $250.43 per share

- 2024-11: $275.85 per share

- 2024-12: $234.70 per share

- 2025-01: $255.30 per share

- 2025-02: $245.75 per share

- 2025-03: $236.85 per share

- 2025-04: $224.05 per share

- 2025-05: $247.12 per share

- 2025-06: $255.97 per share

- 2025-07: $278.00 per share

- 2025-08: $279.98 per share

- 2025-09: $300.41 per share

- 2025-10: $283.38 per share

- 2025-11: $292.09 per share

- 2025-12: $288.72 per share

- 2026-01: $291.24 per share

- 2026-02: $314.74 per share

- 2026-03: $287.00 per share

- 2026-04: $315.83 per share

- 2026-05: $304.96 per share

- 2026-06: $314.59 per share

- 2026-07: $335.48 per share

- 2026-08: $342.79 per share

- 2026-09: $309.00 per share

- 2026-10: $321.14 per share

## Annual estimated value (USD per share)

- FY2016: low $33.65 per share, central $37.94 per share, high $43.65 per share

- FY2017: low $49.70 per share, central $56.32 per share, high $65.14 per share

- FY2018: low $74.09 per share, central $93.90 per share, high $109.60 per share

- FY2019: low $93.14 per share, central $129.00 per share, high $151.11 per share

- FY2020: low $74.85 per share, central $84.67 per share, high $97.75 per share

- FY2021: low $116.70 per share, central $132.44 per share, high $153.41 per share

- FY2022: low $155.54 per share, central $199.91 per share, high $233.52 per share

- FY2023: low $105.69 per share, central $119.45 per share, high $137.78 per share

- FY2024: low $112.58 per share, central $135.37 per share, high $156.74 per share

- FY2025: low $113.52 per share, central $128.38 per share, high $148.17 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:36:24.221Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/702165/000162828026006268/nsc-20251231.htm); period 2025-12-31, filed 2026-02-09.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [David Hoeft](https://gigainvestors.com/DAC): 2,508,128 NSC shares; USD 789,032,000 reported position value; 0.41% of portfolio; reduce; quarter 2026 Q2.
- [Thomas Gayner](https://gigainvestors.com/MKL): 282,500 NSC shares; USD 88,872,000 reported position value; 0.68% of portfolio; hold; quarter 2026 Q2.
- [Andrew Adams](https://gigainvestors.com/MPF): 2,590 NSC shares; USD 815,000 reported position value; 0.01% of portfolio; reduce; quarter 2026 Q2.
- [Daniel Loeb](https://gigainvestors.com/tp): 600,000 NSC shares; USD 188,754,000 reported position value; 4.13% of portfolio; add; quarter 2026 Q2.

# NSC — Norfolk Southern Corp.

Held by 4 investors · USD 1,067,473,000 total · 2026 Q2 · reported price USD 314.59 (split-adjusted).
Page: https://gigainvestors.com/s/NSC

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| David Hoeft (https://gigainvestors.com/DAC) | USD 789,032,000 | 0.4% | reduce -59.92% |
| Daniel Loeb (https://gigainvestors.com/tp) | USD 188,754,000 | 4.1% | add +500% |
| Thomas Gayner (https://gigainvestors.com/MKL) | USD 88,872,000 | 0.7% | hold |
| Andrew Adams (https://gigainvestors.com/MPF) | USD 815,000 | <0.1% | reduce -4.6% |

## Total held by quarter

- 2007 Q2: USD 52,570,000 · 1 holder · USD 52.57
- 2007 Q3: USD 51,910,000 · 1 holder · USD 51.91
- 2007 Q4: USD 40,352,000 · 1 holder · USD 50.44
- 2008 Q1: USD 43,456,000 · 1 holder · USD 54.32
- 2008 Q2: USD 50,136,000 · 1 holder · USD 62.67
- 2008 Q3: USD 52,968,000 · 1 holder · USD 66.21
- 2008 Q4: USD 0 · 0 holders
- 2009 Q1: USD 0 · 0 holders
- 2009 Q2: USD 0 · 0 holders
- 2009 Q3: USD 0 · 0 holders
- 2009 Q4: USD 0 · 0 holders
- 2010 Q1: USD 0 · 0 holders
- 2010 Q2: USD 0 · 0 holders
- 2010 Q3: USD 0 · 0 holders
- 2010 Q4: USD 0 · 0 holders
- 2011 Q1: USD 0 · 0 holders
- 2011 Q2: USD 0 · 0 holders
- 2011 Q3: USD 0 · 0 holders
- 2011 Q4: USD 0 · 0 holders
- 2012 Q1: USD 0 · 0 holders
- 2012 Q2: USD 0 · 0 holders
- 2012 Q3: USD 1,361,896 · 1 holder · USD 63.64
- 2012 Q4: USD 4,458,664 · 1 holder · USD 61.84
- 2013 Q1: USD 7,253,228 · 1 holder · USD 77.08
- 2013 Q2: USD 6,858,160 · 1 holder · USD 72.65
- 2013 Q3: USD 7,301,840 · 1 holder · USD 77.35
- 2013 Q4: USD 8,763,152 · 1 holder · USD 92.83
- 2014 Q1: USD 8,939,640 · 1 holder · USD 97.17
- 2014 Q2: USD 9,478,760 · 1 holder · USD 103.03
- 2014 Q3: USD 10,267,200 · 1 holder · USD 111.60
- 2014 Q4: USD 10,084,120 · 1 holder · USD 109.61
- 2015 Q1: USD 9,468,640 · 1 holder · USD 102.92
- 2015 Q2: USD 8,561,280 · 1 holder · USD 87.36
- 2015 Q3: USD 23,988,760 · 2 holders · USD 76.40
- 2015 Q4: USD 17,510,130 · 1 holder · USD 84.59
- 2016 Q1: USD 17,357,625 · 1 holder · USD 83.25
- 2016 Q2: USD 19,537,335 · 1 holder · USD 85.13
- 2016 Q3: USD 22,275,270 · 1 holder · USD 97.06
- 2016 Q4: USD 24,802,065 · 1 holder · USD 108.07
- 2017 Q1: USD 25,697,115 · 1 holder · USD 111.97
- 2017 Q2: USD 62,371,250 · 2 holders · USD 121.70
- 2017 Q3: USD 97,593,120 · 2 holders · USD 132.24
- 2017 Q4: USD 119,252,700 · 2 holders · USD 144.90
- 2018 Q1: USD 111,746,940 · 2 holders · USD 135.78
- 2018 Q2: USD 416,037,302 · 2 holders · USD 150.87
- 2018 Q3: USD 718,923,197 · 2 holders · USD 180.50
- 2018 Q4: USD 34,319,430 · 1 holder · USD 149.54
- 2019 Q1: USD 42,891,255 · 1 holder · USD 186.89
- 2019 Q2: USD 45,746,235 · 1 holder · USD 199.33
- 2019 Q3: USD 41,231,970 · 1 holder · USD 179.66
- 2019 Q4: USD 44,552,835 · 1 holder · USD 194.13
- 2020 Q1: USD 33,507,000 · 1 holder · USD 146.00
- 2020 Q2: USD 40,293,315 · 1 holder · USD 175.57
- 2020 Q3: USD 49,110,705 · 1 holder · USD 213.99
- 2020 Q4: USD 54,531,495 · 1 holder · USD 237.61
- 2021 Q1: USD 61,625,340 · 1 holder · USD 268.52
- 2021 Q2: USD 60,911,595 · 1 holder · USD 265.41
- 2021 Q3: USD 54,907,875 · 1 holder · USD 239.25
- 2021 Q4: USD 68,324,445 · 1 holder · USD 297.71
- 2022 Q1: USD 65,457,990 · 1 holder · USD 285.22
- 2022 Q2: USD 52,163,055 · 1 holder · USD 227.29
- 2022 Q3: USD 48,114,675 · 1 holder · USD 209.65
- 2022 Q4: USD 56,553,390 · 1 holder · USD 246.42
- 2023 Q1: USD 48,654,000 · 1 holder · USD 212.00
- 2023 Q2: USD 52,041,420 · 1 holder · USD 226.76
- 2023 Q3: USD 47,499,399 · 2 holders · USD 196.93
- 2023 Q4: USD 64,886,310 · 2 holders · USD 236.38
- 2024 Q1: USD 2,141,727,626 · 4 holders · USD 254.87
- 2024 Q2: USD 2,367,478,364 · 3 holders · USD 214.69
- 2024 Q3: USD 2,757,191,236 · 3 holders · USD 248.50
- 2024 Q4: USD 2,563,336,011 · 3 holders · USD 234.70
- 2025 Q1: USD 2,581,481,393 · 3 holders · USD 236.85
- 2025 Q2: USD 2,840,928,114 · 3 holders · USD 255.97
- 2025 Q3: USD 3,840,381,801 · 4 holders · USD 300.41
- 2025 Q4: USD 3,139,950,989 · 4 holders · USD 288.72
- 2026 Q1: USD 1,906,530,738 · 4 holders · USD 287.00
- 2026 Q2: USD 1,067,473,000 · 4 holders · USD 314.59