The development is certainly not encouraging. I am also invested in CNR and am sitting on a high purchase price. I think it is difficult to blame everything on the new management. At least 10% of the price loss is due to the fall in the CAN$ exchange rate. Ynnxs wrote a good article on this 3 months ago. You don't know beforehand that you buy shares at the high. If you do, I would like to have a crystal ball. One should also not forget that Donald T. is working his way through Canada in terms of customs. Obviously the YoY development at CN is about worse than at CP. I haven't looked at all the balance sheets yet, but as of 9/30/2025, liabilities are up only slightly compared to 12/31/2024. Liabilities up CAD 4B from 2023 to 2024, with fixed assets up CAD 5B. That looks like investment. A railroad is capital intensive. Nevertheless, I will keep an eye on the management, even if it is difficult to understand from here.
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@userc7b02065b8a7407b Thank you for your feedback, very interesting.
Maybe you misunderstood me a bit, I didn't just want to blame the management for everything.
Of course the business is cost-intensive, the K-economy is not looking good at the moment, the tariffs are also putting pressure on Canadian values, the currency etc. is all correct.
I'm still of the opinion that $CNR is still a great company and I think that it can all be sat out without stress. The dividend is decent and I hope they won't cut it.
I originally wanted to buy more - but for me the key point here was simply how the management handles the money.
High or higher CAPEX would not be a problem for me either if there is a profit in the future. The buybacks were absolutely unacceptable. And the outlook even from the management is rather subdued to poor.
Unfortunately, I have already experienced for myself that everything can stand or fall with the management. Personally, I am not satisfied with $CNR in this respect and have therefore sold.
Of course, I could be massively wrong, so be it. But if you've seen it, I've already invested in this sector again $CP. So I think it will go up again in the next few years.
Maybe you misunderstood me a bit, I didn't just want to blame the management for everything.
Of course the business is cost-intensive, the K-economy is not looking good at the moment, the tariffs are also putting pressure on Canadian values, the currency etc. is all correct.
I'm still of the opinion that $CNR is still a great company and I think that it can all be sat out without stress. The dividend is decent and I hope they won't cut it.
I originally wanted to buy more - but for me the key point here was simply how the management handles the money.
High or higher CAPEX would not be a problem for me either if there is a profit in the future. The buybacks were absolutely unacceptable. And the outlook even from the management is rather subdued to poor.
Unfortunately, I have already experienced for myself that everything can stand or fall with the management. Personally, I am not satisfied with $CNR in this respect and have therefore sold.
Of course, I could be massively wrong, so be it. But if you've seen it, I've already invested in this sector again $CP. So I think it will go up again in the next few years.
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@Stocktective Yes, I agree that management is crucial. I also think that prices may have bottomed out.
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