Mapping Data

The Largest and Most Profitable Railroads In The US

Map of top 5 biggest railroads in North America
Top 5 Class I Railroads

Now, categorized by operating revenue, this is the 2018 North American biggest railroads map. The USA rail network is dominated by 5 railroad companies. Read below to see how the 2022 railroad revenue’s compared.

The Largest US Railroads

Union Pacific is mapped in pink throughout the western United States against BNSF which is mapped in blue. Over in the east CSX mapped in green competes with Norfolk Southern. Canadian National cuts throw the mid west and spanning east to west throughout Canada. The top railroads dominate the rail market with a market cap in the tens of billions.

In the center of this mess, connecting it all, is Chicago: the largest US rail gateway. The Harbor Belt Railroad and the Belt Railway of Chicago are deserving of a shout out. Without them, traffic would come to a halt. Both switching railroads sort this mess out every day and keep traffic moving. There is another major rail center located in East St. Louis.

The seven “Class I” major railroads dominate the US and Canadian railroad industry. Included above, are 5. Most of which formed as a result of a wave of consolidation in the 1980s and 1990s.

All said and done, the “Class I” railroad track miles totals about 92,000. The track managed and owned by these companies are crucial to moving goods to and from our ports for importing and exporting goods.

How do the 2018 railroad revenues compare to 2022?

Short answer:

Decent. In 2022 the seven Class I freight railroad companies generated $90.8 billion in operating revenue. However, in 2018 the railroads generated $93.3 billion. Railroads experienced a hit in overall operating revenues between 2018 and 2022 but have almost caught back up.

Missing from the maps above are:

Canadian Pacific Railway and Kansas City Southern. When combined, they generated less than $10 billion in revenue.

Top 5 2023 Railroads

1. Union Pacific Railroad$24.1 Billion Revenue

  • Number of employees: 32,124
  • Rail network: 32,100 route miles
Union Pacific Train
A Union Pacific train parked at a stop.

A famous American railroad and a big competitor to BNSF, Union Pacific extended the American railway system to the Pacific coast. It was financed largely in part by federal loans and land grants.

With its acquisition of Southern Pacific rail in 1996, Union Pacific became the largest railroad in Northern America. It relies heavily on commodities such as coal, automobiles, foods, forest and agricultural products, and chemicals and is one of the largest intermodal shippers in the country.

In 2023, Union Pacific reported an operating revenue of $24.1 billion, down 3% from last year, driven by lower fuel surcharge revenue, business mix, and volume declines partially offset by core pricing gains.

2. BNSF Railway $23.876 Billion Revenue

  • Number of employees: ~35,000
  • Rail network: 32,500 route miles
BNSF Train
A BNSF train waiting for departure.

Now Warren Buffet’s locomotive gem, BNSF’s history dates back 170 years to 1849, when the 12-mile Aurora Branch Railroad was founded in Illinois. With a rail network of 32,500 route miles in 28 states and three Canadian provinces, BNSF is one of North America’s leading freight transportation companies.

On Feb. 12 2010, BNSF became a subsidiary of Berkshire Hathaway, Inc which owns it to this day and continues to haul many different commodities, most notable coal and grain, as well as intermodal freight.

Warren Buffet said this year at the Berkshire Hathaway shareholder meeting that it would likely cost $500 billion to replace BNSF’s infrastructure.

In 2023, BNSF railway reported a $23.876 billion in operating revenue, down 8% compared to 2022, primarily due to a decrease in average revenue per car / unit.

3. CSX Transportation – $14.66 Billion Revenue

  • Number of employees: ~25,000
  • Rail network: 20,000 route miles
CSX train heads to its next destination
A CSX train heads to its next destination. (Photo: CSX)

Founded in 1827, CSX serves nearly two-thirds of the American population. The CSX story begins with America’s first common carrier, The Baltimore and Ohio railroad (B&O), ringing a bell from Monopoly the board game.

An interesting piece of history to note:

When the B&O operation began in 1830, its trains were pulled by horses. Several years later, the term “horsepower” was created to convince potential buyers of the value of the steam engine by comparing it to the work done by horses.

In 2023, CSX reported $14.66 billion revenue decreasing 1% year-over-year as the impacts of a decline in intermodal storage revenue, reduced fuel surcharge, lower global benchmark coal prices, and a decrease in intermodal volume more than offset contributions from stronger merchandise pricing and higher merchandise and coal volume.

4. Canadian National Railway$12.3 Billion Revenue

  • Number of employees: 24,000
  • Rail network: ~20,000 route miles
Canadian national railway group
Montreal-based Canadian National is Canada’s largest railway group by revenue © Bloomberg

Canadian National’s overall rail network covers approximately 20,000 route miles. In 2022, Canadian National reported $12.4 billion (C$17.1 billion) in annual revenue.

The Canadian National Railways (CNR) was incorporated on June 6, 1919, comprising several railways that had become bankrupt and fallen into federal government hands, along with some railways already owned by the government. On November 17, 1995, the federal government privatized CN.

Canadian National reported a record $12.3 billion operating revenue in 2023, down 2% from 2022.

5. Norfolk Southern Railway – $12.2 Billion Revenue

  • Number of employees: 20,200
  • Rail network: 21,300 miles
Norfolk Southern freight train rolls through Pittsburgh
A Norfolk Southern freight train rolls through downtown Pittsburgh on Monday, March 26, 2018. (Gene J. Puskar / AP)

Turns out, Norfolk Southern has served the freight transportation for nearly two centuries. The company operated 21,300 miles serving in 22 states and the District of Columbia.

The primary business function of Norfolk Southern Corporation is the rail transportation of raw materials, intermediate products, and finished goods across the Southeast, East, and Midwest United States. Norfolk Southern is a major transporter of domestic and export coal.

Norfolk Southern reported a record $12.2 billion operating revenue in 2023, down 5% from 2022, primarily due to the East Ohio incident.

Sources and Tools Used

On a final note, this map was made using the sources listed below as well as QGIS which is completely open source and free. Rail data was pulled from The Rail Network. If this map is of interest to you and you read this far, please check out our map on the largest natural gas pipelines in the us.


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