CSX Corp. (CSX) 10-K Red Flags
Risk signals extracted deterministically from CSX Corp.’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (16)
- Free cash flow deteriorating: FCF declined +37.0% YoY (from $2.72B to $1.71B). With OCF at $4.61B and capex at $2.90B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- NEW: Restatement of financial statements in latest filing: The term "restatement of" "previously issued" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- Operating cash flow exceeds net income: OCF is 1.60x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- NEW: Impairment charge: Impairment charge appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 3 new risk-language term(s) detected in filing text: Restatement of financial statements, Impairment charge, Restructuring.
- Revenue declined **+3.1%** YoY to $14.09B.
- 5-year revenue CAGR **+2.4%**; 10y CAGR +2.7%.
- Market cap $93.88B at $50.68 per share.
- Trailing P/E 32.91, P/S 6.66, P/B 11.10.
- Composite risk: Elevated.
- Leverage debt/equity 1.16 (moderate).
- Free cash flow deteriorating: FCF declined +37.0% YoY (from $2.72B to $1.71B). With OCF at $4.61B and capex at $2.90B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- NEW: Restatement of financial statements in latest filing: The term "restatement of" "previously issued" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
Filings & ownership
- Latest annual report (10-K) filed Feb 12, 2026.
- Latest quarterly report (10-Q) filed Jul 22, 2026.
- 14 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference CSX Corp.; broad institutional reporting.
- Recent filers include Axiom Investment Management LLC, Allen Investment Management LLC, Axiom Investment Management LLC.
Full CSX analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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