Dilution profile // every instrument, one screen, from SEC filings

CANADIAN NATIONAL RAILWAY CO (CNI)

CIK 16868 · all EDGAR filings →

Overall dilution risk
LOWworst of 2 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
LOWno live registration found
= is there a registration (S-1/S-3 family) on file without a later withdrawal
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
LOW-9% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
NOT COMPUTEDrunway not computable from latest facts
= cash vs trailing operating burn

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2009-06-302025-12-31

Latest: 614.4M shares as of Dec 31, 2025 (40-F). Share count fell from 468954.31B to 470.0M between Jun 30, 2009 and Sep 30, 2009, a pattern consistent with a reverse split (roughly 1-for-997696); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Not enough filing data

can’t compute a runway

Full breakdown: cash runway tool

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

The latest 10-Q/10-K instance document could not be checked just now, so nothing is shown rather than guessed. Try again shortly.

Registrations and offerings

Last 12 months: 0 executed · 0 registered.

MARKETINGMay 7, 2026Free-writing prospectus — offering being marketedFWP
EFFECTIVEMay 4, 2026SEC declared a registration effective — selling can beginEFFECT
MARKETINGNov 6, 2025Free-writing prospectus — offering being marketedFWP
MARKETINGSep 16, 2024Free-writing prospectus — offering being marketedFWP
EFFECTIVEApr 4, 2024SEC declared a registration effective — selling can beginEFFECT
MARKETINGOct 30, 2023Free-writing prospectus — offering being marketedFWP
MARKETINGAug 3, 2022Free-writing prospectus — offering being marketedFWP
EFFECTIVEMay 6, 2022SEC declared a registration effective — selling can beginEFFECT
UPDATEJul 7, 2021Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEJul 7, 2021SEC declared a registration effective — selling can beginEFFECT
MARKETINGApr 29, 2020Free-writing prospectus — offering being marketedFWP
EFFECTIVEFeb 19, 2020SEC declared a registration effective — selling can beginEFFECT

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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