Canadian National Railway Company (CNI): Business Model Canvas

Die Canadian National Railway Company (CNI) gilt als Transportriese und webt ein komplexes Netzwerk aus Logistik- und Frachtlösungen, das wie Industrieadern durch ganz Nordamerika pulsiert. Durch die strategische Verbindung verschiedener Branchen über seine umfassende Schieneninfrastruktur verwandelt CNI komplexe Transportherausforderungen in nahtlose, effiziente Reisen, die die wirtschaftliche Konnektivität fördern. Von Agrarrohstoffen bis hin zu Automobilteilen nutzt dieser Eisenbahngigant modernste Technologie, strategische Partnerschaften und ein umfangreiches Transportökosystem, um Werte zu liefern, die weit über die traditionelle Schifffahrt hinausgehen – und schafft so ein dynamisches Geschäftsmodell, das den globalen Handel vorantreibt.

Canadian National Railway Company (CNI) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit großen Hafenbehörden

Canadian National Railway unterhält strategische Partnerschaften mit:

• Hafen von Vancouver (Kanadas größter Hafen)
• Hafen von Prince Rupert
• Hafen von Montreal
• Hafen von New Orleans (USA)

Hafen	Jährliches Containervolumen	Dauer der Partnerschaft
Hafen von Vancouver	3,4 Millionen TEU	20+ Jahre
Hafen von Prince Rupert	1,2 Millionen TEU	15+ Jahre

Intermodale Schifffahrts- und Logistikpartnerschaften

Zu den wichtigsten Logistikkooperationen gehören:

• Maersk-Linie
• Mittelmeer-Reederei
• CMA CGM-Gruppe
• Hapag-Lloyd

Technologieanbieter

Technologiepartner	Technologischer Fokus	Jährliche Investition
Siemens	Lokomotivsteuerungssysteme	42 Millionen Dollar
Wabtec Corporation	Schienenmanagementtechnologien	38 Millionen Dollar

Gerätehersteller

Partnerschaften bei der Herstellung von Primärausrüstung:

• Allgemeine elektrische Transportmittel
• Bombardier Transportation
• Progress Rail Services

Landwirtschaftliche und industrielle Rohstoffpartnerschaften

Rohstoffproduzent	Jährliches Transportaufkommen	Vertragswert
Cargill	2,3 Millionen Tonnen	215 Millionen Dollar
Viterra	1,8 Millionen Tonnen	180 Millionen Dollar

Canadian National Railway Company (CNI) – Geschäftsmodell: Hauptaktivitäten

Langstrecken-Gütertransport in ganz Nordamerika

Die Canadian National Railway betreibt ein 33.331 Kilometer langes Schienennetz, das Kanada und die Vereinigten Staaten umspannt. Im Jahr 2022 transportierte das Unternehmen 302 Millionen Tonnen Fracht.

Frachtkategorie	Volumen (Millionen Tonnen)
Erdöl und Chemikalien	74.2
Getreide und Düngemittel	55.6
Forstprodukte	42.3
Metalle und Mineralien	38.9

Intermodale Güterverkehrsdienste und Schienennetzmanagement

CN Rail verwaltet ein komplexes intermodales Transportsystem mit 23 intermodalen Terminals in ganz Nordamerika.

• Jährlicher intermodaler Verkehr: 2,4 Millionen TEU (Twenty-foot Equivalent Units)
• Intermodaler Umsatz: 3,1 Milliarden US-Dollar im Jahr 2022
• Über 400 fahrplanmäßige Züge pro Tag

Instandhaltung umfangreicher Eisenbahninfrastruktur

Die Investitionen in die Instandhaltung der Infrastruktur beliefen sich im Jahr 2022 auf 2,9 Milliarden US-Dollar und umfassten Gleise, Brücken und Fahrzeuge.

Infrastrukturkomponente	Jährliche Wartungsausgaben
Verfolgen Sie die Infrastruktur	1,2 Milliarden US-Dollar
Rollmaterial	850 Millionen Dollar
Brücken und Tunnel	650 Millionen Dollar

Logistik- und Supply-Chain-Optimierung

CN Rail arbeitet mit Präzisionsfahrplan-Eisenbahnverkehr Methodik, um im Jahr 2022 eine Betriebsquote von 65 % zu erreichen.

• Durchschnittliche Zuglänge: 12.500 Fuß
• Durchschnittliches Zuggewicht: 10.500 Tonnen
• Durchschnittliche Zuggeschwindigkeit: 24,1 Meilen pro Stunde

Entwicklung digitaler Tracking- und Transporttechnologie

Die Technologieinvestitionen im Jahr 2022 beliefen sich auf insgesamt 385 Millionen US-Dollar und konzentrierten sich auf die digitale Transformation und betriebliche Effizienz.

• Echtzeit-Sendungsverfolgungssystem
• Vorausschauende Wartungstechnologien
• Forschung zur autonomen Zugsteuerung

Canadian National Railway Company (CNI) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Schienennetz

Gesamtes Schienennetz: 33.000 Streckenkilometer durch Kanada und die Vereinigten Staaten

Netzwerkabdeckung	Kilometer
Kanadisches Netzwerk	22.500 Kilometer
Netzwerk der Vereinigten Staaten	10.500 Kilometer

Lokomotiv- und Triebwagenflotte

Flottenzusammensetzung ab 2023:

Asset-Typ	Gesamteinheiten
Lokomotiven	1.900 Einheiten
Gütertriebwagen	48.600 Einheiten

Digitale Technologien

• Fortschrittliche GPS-Tracking-Systeme
• Echtzeit-Logistikmanagementplattformen
• Vorausschauende Wartungstechnologien

Zusammensetzung der Belegschaft

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Gesamtbelegschaft	24.320 Mitarbeiter
Transportprofis	15.680 Mitarbeiter

Strategische Transportkorridore

Wichtige Korridorverbindungen: Vancouver, Prince Rupert, Toronto, Chicago, New Orleans

Canadian National Railway Company (CNI) – Geschäftsmodell: Wertversprechen

Effizienter und kostengünstiger kontinentalübergreifender Gütertransport

Die Canadian National Railway betreibt ein Netz von 20.300 Streckenmeilen durch Kanada und die Vereinigten Staaten. Im Jahr 2022 transportierte das Unternehmen 21,7 Millionen Tonnen Fracht und erwirtschaftete einen Gesamtumsatz von 16,7 Milliarden US-Dollar.

Frachtsegment	Jährliches Volumen (Tonnen)	Umsatzbeitrag
Intermodal	7,2 Millionen	5,4 Milliarden US-Dollar
Masse	5,9 Millionen	4,2 Milliarden US-Dollar
Ware	4,8 Millionen	4,1 Milliarden US-Dollar
Automobil	3,8 Millionen	3,0 Milliarden US-Dollar

Zuverlässige und konsistente Versanddienste

CN Railway erreichte im Jahr 2022 eine Pünktlichkeit von 92,1 % bei einer durchschnittlichen Zuggeschwindigkeit von 17,3 Meilen pro Stunde.

• Insgesamt gefahrene Zugmeilen: 122,4 Millionen
• Lokomotivpark: 1.900 Einheiten
• Durchschnittliche Zuglänge: 9.500 Fuß

Umweltfreundliche Transportlösung

Im Jahr 2022 reduzierte CN Railway seine Treibhausgasemissionen um 4,2 % im Vergleich zum Basisjahr 2019. Das Unternehmen investierte 350 Millionen US-Dollar in Technologien zur Kraftstoffeffizienz und Emissionsreduzierung.

Metrik zur Emissionsreduzierung	Leistung 2022
Reduzierung der CO2-Emissionen	4.2%
Verbesserung der Kraftstoffeffizienz	2.8%

Integriertes Logistik- und Supply Chain Management

CN Railway bietet branchenübergreifende End-to-End-Logistiklösungen und bedient über 15 Schlüsselsektoren mit spezialisierten Transportdienstleistungen.

• Agrarprodukte: 35 % des gesamten Frachtaufkommens
• Energie und Chemie: 22 % des gesamten Frachtaufkommens
• Forstprodukte: 15 % des gesamten Frachtaufkommens
• Automobil und Metalle: 18 % des gesamten Frachtaufkommens

Umfassendes Transportnetzwerk

CN Railway verbindet wichtige Wirtschaftszentren in ganz Nordamerika und bietet strategischen Zugang zu drei Küsten: Pazifik, Atlantik und Golf von Mexiko.

Netzwerkkonnektivität	Geografische Reichweite
Kanadische Provinzen bedient	8
US-Bundesstaaten bedient	16
Wichtige Hafenverbindungen	8

Canadian National Railway Company (CNI) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Beziehungen mit wichtigen Industriezweigen

CN Railway unterhält strategische langfristige Verträge mit wichtigen Industriesektoren, darunter:

Industriesektor	Jährlicher Vertragswert	Vertragsdauer
Automobil	385 Millionen Dollar	5-7 Jahre
Chemischer Transport	452 Millionen US-Dollar	3-5 Jahre
Agrarprodukte	678 Millionen US-Dollar	4-6 Jahre

Dedizierter Kundenservice und Kontoverwaltung

CN Railway bietet spezialisierten Kundensupport mit:

• Engagierte Account-Management-Teams rund um die Uhr
• Persönliche Logistikberatung
• Kommunikationskanäle in Echtzeit

Digitale Plattformen zur Sendungsverfolgung und -verwaltung

Digitale Plattformfunktion	Benutzerinteraktion	Jährliche Plattformnutzung
Online-Sendungsverfolgung	92 % Kundenakzeptanz	3,2 Millionen Tracking-Anfragen
Mobile Anwendung	78 % Kundennutzung	1,7 Millionen aktive Benutzer

Maßgeschneiderte Transportlösungen

Zu den Spezialtransportangeboten gehören:

• Intermodale Güterverkehrsdienste
• Temperaturgeführter Transport
• Gefahrstofflogistik

Kontinuierliche Leistungsoptimierung und Kommunikation

Leistungsmetrik	Jährliche Verbesserung	Kundenzufriedenheitsrate
Pünktliche Lieferung	2,5 % Verbesserung im Jahresvergleich	88.6%
Servicezuverlässigkeit	3,1 % jährliche Steigerung	91.2%

Canadian National Railway Company (CNI) – Geschäftsmodell: Kanäle

Direktvertriebsteams

Canadian National Railway beschäftigt im Jahr 2023 24.107 Vollzeitmitarbeiter, davon rund 1.200 engagierte Vertriebsprofis in ganz Nordamerika.

Vertriebskanalkategorie	Anzahl der Vertreter	Geografische Abdeckung
Frachtverkaufsteam	850	Kanada und Vereinigte Staaten
Logistik-Vertriebsmitarbeiter	250	Wichtige Industrieregionen
Key-Account-Manager	100	Strategische Industriekunden

Digitale Online-Plattformen und Buchungssysteme

CNI betreibt eine umfassende digitale Plattform mit den folgenden digitalen Kanalmetriken:

• Online-Frachtbuchungssystem, das 85 % der Kundentransaktionen abwickelt
• Mobile Anwendung mit 125.000 aktiven Geschäftsbenutzern
• Digitale Plattform zur Abwicklung eines jährlichen Transaktionsvolumens von 3,2 Millionen Sendungen

Branchenmessen und Konferenzen

Jährliche Teilnahme an Transport- und Logistikveranstaltungen:

Ereignistyp	Anzahl der Jahreskonferenzen	Geschätzte Netzwerkinteraktionen
Nordamerikanische Transportkonferenzen	18	4.500 direkte Geschäftsinteraktionen
Internationale Logistikmessen	6	2.200 potenzielle Kundenengagements

Strategisches Account Management

CNI verwaltet strategische Kunden mit einem speziellen Ansatz:

• 187 engagierte strategische Account Manager
• Betreuung der 250 größten Unternehmenskunden
• Durchschnittlicher Kontowert: 42,3 Millionen US-Dollar pro Jahr

Digitale Kommunikations- und Kundensupportportale

Details zur Kundensupport-Infrastruktur:

Support-Kanal	Jährliches Kontaktvolumen	Durchschnittliche Reaktionszeit
Online-Support-Portal	1,4 Millionen Interaktionen	2,5 Stunden
Telefonsupport	620.000 Anrufe	12 Minuten
E-Mail-Support	480.000 E-Mail-Kommunikationen	6 Stunden

Canadian National Railway Company (CNI) – Geschäftsmodell: Kundensegmente

Produzenten von Agrarrohstoffen

Die Canadian National Railway transportierte im Jahr 2022 22,4 Millionen Tonnen Getreide. Der Getreideumsatz belief sich im selben Jahr auf 1,85 Milliarden US-Dollar.

Warentyp	Volumen (Millionen Tonnen)	Umsatzbeitrag
Weizen	9.6	792 Millionen US-Dollar
Raps	4.8	456 Millionen US-Dollar
Gerste	3.2	312 Millionen Dollar

Fertigungs- und Industrieunternehmen

CN Railway bediente im Jahr 2022 19.500 Industriekunden.

• Transport von Autoteilen: 1,2 Millionen Wagenladungen
• Chemie- und Erdölprodukte: 1,1 Milliarden US-Dollar Umsatz
• Gesamtumsatz im Industriegüterverkehr: 3,4 Milliarden US-Dollar

Automobilindustrie

CN Railway transportierte im Jahr 2022 435.000 Automobileinheiten.

Automotive-Segment	Lautstärke	Einnahmen
Fertige Fahrzeuge	285.000 Einheiten	612 Millionen Dollar
Automobilteile	150.000 Einheiten	348 Millionen US-Dollar

Energie- und natürliche Ressourcensektoren

CN Railway transportierte im Jahr 2022 29,7 Millionen Tonnen Energieprodukte.

• Rohöltransport: 12,4 Millionen Barrel
• Kohletransport: 8,2 Millionen Tonnen
• Gesamtumsatz des Energiesektors: 2,3 Milliarden US-Dollar

Einzelhandels- und Konsumgüterunternehmen

CN Railway hat im Jahr 2022 1,6 Millionen intermodale Container umgeschlagen.

Kategorie „Konsumgüter“.	Behältervolumen	Einnahmen
Verpackte Konsumgüter	780.000 Container	1,2 Milliarden US-Dollar
Einzelhandelsware	520.000 Container	892 Millionen US-Dollar

Canadian National Railway Company (CNI) – Geschäftsmodell: Kostenstruktur

Treibstoff- und Energiekosten

Im Jahr 2022 beliefen sich die Treibstoffkosten der Canadian National Railway auf insgesamt 2,1 Milliarden US-Dollar. Der Dieselkraftstoffverbrauch betrug etwa 475 Millionen Gallonen pro Jahr. Die durchschnittlichen Dieselkraftstoffkosten pro Gallone betrugen 4,42 US-Dollar.

Jahr	Gesamte Treibstoffkosten	Dieselverbrauch	Durchschnittliche Kraftstoffkosten pro Gallone
2022	2,1 Milliarden US-Dollar	475 Millionen Gallonen	$4.42

Wartung und Entwicklung der Infrastruktur

Die Infrastrukturinvestitionen für 2022 erreichten 1,8 Milliarden US-Dollar. Die Kosten für die Gleiswartung beliefen sich auf 712 Millionen US-Dollar, die Investitionsausgaben für den Netzausbau beliefen sich auf 1,088 Milliarden US-Dollar.

• Gleiswartung: 712 Millionen US-Dollar
• Investitionen in den Netzwerkausbau: 1,088 Milliarden US-Dollar
• Gesamtausgaben für die Infrastruktur: 1,8 Milliarden US-Dollar

Arbeits- und Personalkosten

Die Gesamtkosten für die Belegschaft beliefen sich im Jahr 2022 auf 2,5 Milliarden US-Dollar. Die Mitarbeiterzahl betrug 24.795 mit einer durchschnittlichen Jahresvergütung von 101.000 US-Dollar pro Mitarbeiter.

Gesamter Arbeitsaufwand	Gesamtzahl der Mitarbeiter	Durchschnittliche Vergütung
2,5 Milliarden US-Dollar	24,795	$101,000

Investitionen in Technologie und digitale Systeme

Die Technologieinvestitionen für 2022 beliefen sich auf insgesamt 385 Millionen US-Dollar. Die Ausgaben für digitale Transformation und Cybersicherheit beliefen sich auf 142 Millionen US-Dollar.

• Gesamtinvestitionen in die Technologie: 385 Millionen US-Dollar
• Ausgaben für die digitale Transformation: 142 Millionen US-Dollar

Flottenbeschaffung und -wartung

Die Kosten für die Flottenwartung beliefen sich im Jahr 2022 auf 673 Millionen US-Dollar. Die Anschaffung neuer Lokomotiven belief sich auf 412 Millionen US-Dollar.

Kosten für die Flottenwartung	Investitionen in neue Lokomotiven
673 Millionen US-Dollar	412 Millionen Dollar

Canadian National Railway Company (CNI) – Geschäftsmodell: Einnahmequellen

Frachttransportgebühren

Im Jahr 2022 meldete die Canadian National Railway einen Gesamtumsatz im Güterverkehr von 14,54 Milliarden US-Dollar. Aufschlüsselung der Frachteinnahmen nach Waren:

Rohstoffsegment	Umsatz (Mio. USD)	Prozentsatz
Erdöl und Chemikalien	3,212	22.1%
Getreide und Düngemittel	2,987	20.5%
Intermodal	2,756	19.0%
Forstprodukte	1,894	13.0%
Metalle und Mineralien	1,645	11.3%
Automobil	1,042	7.2%

Intermodale Versanddienste

Die intermodale Schifffahrt erwirtschaftete im Jahr 2022 einen Umsatz von 2,756 Milliarden US-Dollar, was 19 % des gesamten Frachtumsatzes entspricht.

• Gesamtes intermodales Verkehrsaufkommen: 2,4 Millionen TEU (20-Fuß-Äquivalent-Einheiten)
• Grenzüberschreitender intermodaler Umsatz: 1,2 Milliarden US-Dollar
• Inländischer intermodaler Umsatz: 1,556 Milliarden US-Dollar

Logistik und Supply Chain Management

Die Logistikdienstleistungen von CN erwirtschafteten im Jahr 2022 Nebeneinnahmen in Höhe von rund 387 Millionen US-Dollar.

Logistikdienstleistung	Umsatz (Mio. USD)
Spedition	156
Lagerhaltung	124
Supply-Chain-Lösungen	107

Langfristige Transportverträge

Langfristige Verträge stellten einen garantierten Umsatz von 3,8 Milliarden US-Dollar für den Zeitraum 2022–2024 dar.

• Verträge im Agrarsektor: 1,2 Milliarden US-Dollar
• Verträge im Energiesektor: 1,5 Milliarden US-Dollar
• Verträge im verarbeitenden Gewerbe: 1,1 Milliarden US-Dollar

Mehrwert-Logistikdienstleistungen

Mehrwertdienste generierten im Jahr 2022 zusätzliche Einnahmen in Höhe von 276 Millionen US-Dollar.

Servicetyp	Umsatz (Mio. USD)
Spezialausrüstungsleasing	112
Maßgeschneiderte Logistiklösungen	86
Tracking- und Technologiedienste	78

Canadian National Railway Company (CNI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why shippers choose Canadian National Railway Company (CNI) over other options, and honestly, the network geography is the first thing that jumps out.

The unique access to three coasts is a massive differentiator. It's not just about having tracks; it's about where those tracks end up, connecting you to global trade lanes seamlessly.

• Vast rail network spanning close to 32,000 km (or nearly 20,000 miles) of track across Canada and the United States.
• The only transcontinental rail network in North America connecting to the Atlantic, Pacific, and Gulf of Mexico coasts.
• This reach provides unparalleled access to major West Coast ports like Vancouver and Prince Rupert, which serve as primary gateways to Asia.

For high-volume shippers, the value proposition centers on economies of scale, which is where rail beats trucking over long distances. Canadian National Railway Company moves a staggering amount of freight, powering the economy by safely transporting more than 300 million tons of goods annually.

The operational discipline shows up directly in the cost structure. Here's a quick look at the Q3 2025 performance that underpins that cost-effectiveness:

Metric	Value (Q3 2025)	Context/Unit
Operating Ratio	61.4%	Operating expenses as a percentage of revenues.
Revenues	C$4,165 million	Increase of 1% year-over-year.
Operating Income	C$1,606 million	Increase of 6% year-over-year.
Diluted EPS	C$1.83	Increase of 6% year-over-year.
Through Dwell	7.0	Decreased 1% (hours, entire railroad).
Locomotive Fuel Efficiency	0.833	US gallons per 1,000 GTMs, 2% more efficient.

The improvement in the operating ratio to 61.4% from 63.1% the prior year shows management is actively focused on making the firm more profitable through productivity, even with modest volume growth. Also, the intermodal segment, a key part of integrated logistics, saw revenues rise 11%, fueled by a 15% increase in carloads in Q3 2025.

Canadian National Railway Company provides integrated logistics solutions, meaning you can use their services for end-to-end supply chain simplicity. They offer a unique combination of rail service, warehousing, and distribution, often using well-established partnerships for seamless offline service into major North American markets. This helps shippers convert road freight to rail for the long haul, which is the core of cost-effective, high-volume transport.

Finally, the commitment to safety and environmental sustainability is quantified through ongoing investment and goal setting. You can count on their focus on network fluidity, which is intrinsically linked to safety.

• Locomotive fleet availability reached 92.2% year-to-date in 2025.
• The company consumes approximately 15% less locomotive fuel per gross ton mile than the industry average.
• Canadian National Railway Company received approval for its science-based net-zero goal from the Science Based Targets initiative in 2024.

The 2025 capital program, which includes nearly $2.48 billion dedicated to tracks, yards, and rolling stock, directly supports maintaining service performance and network resiliency.

Canadian National Railway Company (CNI) - Canvas Business Model: Customer Relationships

Canadian National Railway Company emphasizes deep, ongoing collaboration with its B2B freight customers, which is foundational to its scheduled operating model. The company's commitment to service excellence is quantified through specific performance metrics and significant capital deployment aimed at network reliability.

High service quality, evidenced by a 95% local service commitment performance.

While the target of 95% is the stated goal, Canadian National Railway Company reported that performance under its Local Service Commitment Plan (LSCP) improved to 94% in 2024, measuring if customers received the right cars in the committed switch window. This focus on reliability is supported by investments designed to enhance network fluidity and capacity.

The investments in 2025 directly support the service quality promised to customers:

Metric/Program	2025 Planned Amount/Scope	Context/Purpose
Total Capital Program (Net of Customer Reimbursements)	Approximately C$3.4 billion CAD	Strengthening resilience, efficiency, and sustainability of operations.
Rolling Stock Upgrade & Expansion Allocation	Over $500 million CAD	Reinforcing safe, reliable, and efficient service delivery.
New Rail Installation (Projects Underway)	Over 225 miles	Alleviating congestion and improving throughput.
Capacity Building Projects in Western Canada	Approximately 8 projects scheduled to come online	Building capacity to meet growing demands.

Dedicated account management for large B2B freight customers.

Canadian National Railway Company maintains a focus on customer collaboration, as highlighted by the President and Chief Executive Officer in Q1 2025. The company recognizes over 30 customers, suppliers, and supply chain partners through its EcoConnexions Partnership Program for their leadership in sustainability, demonstrating a formalized structure for deep engagement with key stakeholders.

Consultative approach to supply chain optimization.

The company works with customers on operational alignment, such as blocking trains to reduce switching time for commodities like propane, which is a form of supply chain optimization. This consultative effort is part of the broader strategy to enhance service and convert road traffic to rail. The industry context shows that companies are losing an estimated $1.5 trillion annually due to supply chain inefficiencies, driving the demand for such optimization guidance.

Digital self-service tools for tracking and booking shipments.

Canadian National Railway Company invests in data analytic systems, including artificial intelligence, to support data-driven decision-making for customers. The company utilizes robust supply chain visibility tools to improve data quality and responsiveness. While specific adoption rates are not public, the general industry benchmark for strong digital service adoption, which Canadian National Railway Company likely targets, typically exceeds 70%.

Long-term contracts with major shippers for stable volume and pricing.

The stability in the market is leading shippers to lengthen their bid cycles and secure longer contracts with trusted carriers for stable rates. Historically, the rail sector has been able to raise prices at a CAGR of about +5.7%, which is quicker than the rate of inflation, suggesting the value derived from these stable, long-term agreements.

• The company utilizes a Voice of the Customer Survey to gather direct insights. [cite: 10 from first search]
• Customer-focused reporting includes the Efficient Receiver Report and the Winter Situation Report. [cite: 4 from third search]

Canadian National Railway Company (CNI) - Canvas Business Model: Channels

You're looking at how Canadian National Railway Company (CNI) gets its services-from bulk commodities to intermodal containers-to the customer. It's a massive physical network supported by direct sales engagement.

Direct sales force targeting large industrial and resource companies.

CNI deploys a direct sales approach to secure high-volume, long-term contracts with major players in sectors like energy, automotive, and agriculture. This team works to integrate CNI's services directly into the customer's supply chain planning. For the third quarter ending September 30, 2025, Canadian National Railway Company reported sales revenues of $\text{C\$4.17 billion}$. This revenue base is directly influenced by the success of these direct engagements across their core commodity groups.

Intermodal terminals and ports (e.g., Vancouver, Prince Rupert, New Orleans).

The physical reach of CNI is defined by its network connecting three coasts: the Atlantic, the Pacific, and the Gulf of Mexico, spanning approximately $\text{20,000-mile}$ across Canada and Mid-America. This network is the backbone for intermodal traffic, which moves containers and trailers. While overall Class I intermodal volume growth moderated in early 2025 after a strong January, Canadian National's year-to-date grain volumes showed significant strength, up $\text{17%}$ compared to 2024. The company's Q2 2025 revenues were $\text{C\$4,272 million}$, with Revenue Ton Miles (RTMs) at $\text{59,215 million}$.

Transload and distribution centers for converting freight modes.

To bridge the gap between rail and local trucking, Canadian National Railway Company operates a significant network of facilities designed for seamless commodity exchange. They maintain $\text{31}$ strategically located distribution centers across Canada and the United States. These centers support various commodities, including specialized facilities for forest products, metals, and automotive. Specifically, there are $\text{18}$ bulk distribution facilities dedicated to liquid and dry bulk transloading through the CargoFlo service. Furthermore, the automotive segment utilizes $\text{18}$ automotive facilities, which handle over $\text{2 million}$ vehicles annually. A recent example of channel enhancement was the opening of a $\text{20,000}$ sq. ft. transload logistics facility in Flat Rock, Michigan, in 2024.

Third-party logistics (3PL) providers for end-to-end solutions.

Canadian National Railway Company partners with trusted Top Tier partners to extend its reach, offering shippers end-to-end solutions that go beyond the rail line. This collaboration is essential for providing the flexibility of short-haul truck delivery alongside long-distance rail economy. The company also offers dedicated services like Customs Brokerage, which handles over $\text{250,000}$ clearances annually, supporting the international flow through these channel partners. The Distribution Services Team, consisting of nearly $\text{300}$ employees, coordinates these logistics, including equipment operation and transloading.

Here is a snapshot of the operational scale supporting these channels as of mid-to-late 2025 financial reporting periods:

Channel/Metric Category	Specific Data Point	Value/Amount	Reporting Period/Context
Overall Network Reach	Miles in Network	$\text{20,000-mile}$	As of 2025
Revenue Channel Scale	Q3 2025 Sales Revenues	$\text{C\$4.17 billion}$	Quarter ended September 30, 2025
Intermodal Channel Activity	Year-to-Date Grain Volume Growth (CN)	$\text{17%}$ increase	Compared to 2024
Transload Channel Footprint	Total Distribution Centers	$\text{31}$ facilities	Across Canada and the U.S.
Transload Channel Specialization	Bulk Distribution Facilities (CargoFlo)	$\text{18}$ facilities	For liquid and dry bulk transloading
Logistics Channel Support	Annual Customs Clearances	Over $\text{250,000}$	Via Customs Brokerage Services
Operational Efficiency	Q2 2025 Operating Ratio	$\text{61.7%}$	Q2 2025

The company's Q1 2025 results showed Revenue Ton Miles (RTMs) at $\text{60,049 million}$, representing a $\text{1%}$ increase year-over-year, with revenues of $\text{C\$4,403 million}$. This demonstrates the transactional throughput moving through these various channels.

• Direct Sales Target Segments: Industrial, Resource, Agricultural.
• Key Port Access Points: Vancouver, Prince Rupert, New Orleans.
• Transload Services: CargoFlo for liquid/dry bulk, specialized handling for forest products and metals.
• Logistics Support: Access to approximately $\text{1,000}$ trucks network-wide for first and last mile delivery.

Finance: review Q3 $\text{2025}$ operating ratio against Q2 $\text{2025}$ to assess channel cost effectiveness by end of next week.

Canadian National Railway Company (CNI) - Canvas Business Model: Customer Segments

You're looking at the core customers Canadian National Railway Company (CNI) serves, the businesses that rely on its nearly 20,000-mile network to move massive volumes across North America. This isn't about individual consumers; it's strictly B2B, moving raw materials and finished goods that power the continent's economy.

The customer base is highly concentrated in bulk commodities and high-volume container traffic. For instance, Intermodal shippers, which include major shipping lines and large retailers moving containers, accounted for a significant chunk of the business in 2024. Honestly, understanding this concentration is key to seeing where CNI focuses its operational muscle.

Here's a look at the financial weight of the top segments based on 2024 revenue, which totaled C$17,046 million:

Customer Segment	2024 Revenue Share (as provided)	Approximate 2024 Revenue (CAD)
Intermodal shippers (e.g., shipping lines, retailers)	22%	C$3,750.12 million
Energy and chemical producers	20%	C$3,409.2 million

The math on that is simple: 42% of the total 2024 revenue came from just those two groups. Still, the agricultural sector is arguably the most strategically vital, especially given the seasonal demands and the sheer scale of Canadian resource exports.

For the Agricultural sector, which includes grain and fertilizer, CNI is a market leader. The company has stated it holds a dominant 50% market share in grain transportation, connecting producers to global markets. You see their performance in the latest operational reports; for example, Canadian National Railway Company set a new all-time monthly record for grain movement in October 2025, moving over 3.4 million metric tonnes of grain from Western Canada. This segment is mandated to account for 70% of Canadian grain exports, making their network performance directly tied to national trade balances.

Beyond these top revenue drivers, Canadian National Railway Company serves several other critical industrial customer groups. These are the other pillars of their freight volume:

• Forest products.
• Metals and minerals.
• Automotive manufacturers.

To be fair, the network's utility extends beyond direct end-to-end shipping for these major commodity movers. Canadian National Railway Company also serves other Class I railroads, which is essential for maintaining a seamless continental rail network. This interline traffic exchange ensures cargo can move smoothly across competitor lines when necessary, keeping the entire system fluid.

You can see the breadth of their customer engagement through the commodities they handle, which total over 300 million tons of goods annually. This diverse portfolio helps mitigate risk when one specific commodity market slows down.

Finance: draft 13-week cash view by Friday.

Canadian National Railway Company (CNI) - Canvas Business Model: Cost Structure

The Cost Structure for Canadian National Railway Company is heavily weighted toward maintaining its extensive physical network, which involves significant fixed and capital costs. You'll see a clear commitment to infrastructure investment alongside variable cost management, especially concerning labor and fuel.

The network maintenance component is substantial, with a planned expenditure of C$2.9 billion for 2025 maintenance. This is separate from the broader capital program, which Canadian National Railway Company continues to plan at approximately C$3.35 billion for the full year 2025, net of amounts reimbursed by customers. This focus on infrastructure is a core, non-negotiable cost of running a Class I railroad.

Variable costs are managed actively, particularly fuel expenses. For instance, in the second quarter of 2025, fuel expenses decreased by 25% compared to the prior year period, driven partly by a 23% decrease in the price per gallon. Labor costs are another major area of focus, especially following recent contract negotiations. Engineers and conductors secured a wage hike of 3% per year under a contract retroactive to January 1, 2024. To offset this and other pressures, Canadian National Railway Company is pursuing productivity efforts, which included an additional C$75 million in labor cost reductions reported in the third quarter of 2025. The company has also reduced its workforce, with a total of 1200 layoffs since October 2024.

Debt servicing costs are managed against a stated financial target. Canadian National Railway Company continues to manage to its adjusted debt-to-adjusted EBITDA target of 2.5x. As of the twelve months ended September 30, 2025, the actual leverage ratio stood at 2.54x. This leverage management guides capital allocation decisions, including future spending plans.

Here's a look at the planned capital spending trajectory:

Year	Planned Capital Expenditure (C$)	Notes
2025	C$3.35 billion	Net of amounts reimbursed by customers
2026	C$2.8 billion	Down nearly C$600 million from 2025 levels

The cost base is also influenced by ongoing productivity and workforce adjustments:

• Total workforce reductions since October 2024: 1200
• Q3 2025 productivity savings from labor costs: C$75 million
• Wage increase for engineers/conductors: 3% per year
• Leverage ratio as of Q2 2025: 2.5x

Canadian National Railway Company (CNI) - Canvas Business Model: Revenue Streams

You're looking at the revenue engine for Canadian National Railway Company as of late 2025, and it's clear the business relies on a highly diversified freight base, even while navigating sector-specific tariff headwinds.

Canadian National Railway Company's revenue streams are fundamentally built upon moving vast quantities of goods across its network, segmented into distinct commodity groups. The company reported total revenues for Q3 2025 were C$4.2 billion, reflecting a 1% increase year-over-year, according to their latest filings. This modest top-line growth, despite volume pressures in certain areas, was achieved through strong cost control, which improved the operating ratio to 61.4% in the quarter.

The Intermodal segment remains a critical component, often cited as the largest revenue contributor. This stream comes from transporting shipping containers and trailers, and it showed significant strength in Q3 2025, with revenues rising 11% year-over-year, partly recovering from prior year disruptions.

Bulk commodity revenue is another pillar, primarily driven by essential resources. For the third quarter, the Coal segment saw revenue growth of 3%, and the Petroleum & Chemicals segment grew by 1%. Grain shipments experienced a dip last quarter due to a late harvest, but expectations are for record highs to boost volumes in the coming months.

Merchandise revenue covers a range of industrial goods. Here, the impact of sector-specific tariffs was more noticeable. Forest products revenue decreased by -4%, and Metals & Minerals revenue fell by -6%. Chemicals, which is often grouped with petroleum, saw a 1% revenue increase.

Here's a quick look at how some of the key freight segments performed in Q3 2025 compared to the prior year:

Revenue Stream Segment	Q3 Revenue Change (Year-over-Year)	Key Driver/Impact
Intermodal	+11%	Container and trailer transport recovery
Coal	+3%	On us growth initiatives
Petroleum & Chemicals	+1%	Higher crude oil shipments
Forest Products	-4%	Sector-specific tariffs
Metals & Minerals	-6%	Sector-specific tariffs

To be fair, the seven diversified commodity groups that make up freight revenue include more than just the above, but these represent the key areas showing movement in the latest report. The company's ability to generate cash flow is strong, with net cash provided by operating activities reaching C$4,822 million for the first nine months of 2025. Plus, Canadian National Railway Company demonstrated a commitment to shareholder returns, repurchasing close to 8 million shares in the third quarter for approximately C$1 billion.

You can see the revenue generation broken down by the major components that drive the business:

• Freight revenue from seven diversified commodity groups.
• Intermodal revenue, the largest segment, from container and trailer transport.
• Bulk commodity revenue from grain, coal, and petroleum.
• Merchandise revenue from forest products, metals, and chemicals.
• Q3 2025 total revenue was C$4.2 billion.

Finance: draft 13-week cash view by Friday.