Norfolk Southern (NSC) Stock Looks Expensive On Future Cash Flow

Norfolk Southern has delivered a powerful share price run over the past few years, and that puts a sharper spotlight on one question for investors who care about valuation. Is the current US$338.23 price being supported by the cash the railroad is expected to generate over time, or has the share price moved ahead of the underlying cash flows? Norfolk Southern has returned 94.5% over the past 3 years, which raises the stakes on whether that jump lines up with the cash its rail network can...