The significant transformational changes occurring in railway transport within the framework of sustainable development call for a scientific examination of the influencing factors, which is the focus of this research. The authors selected dynamic factors and employed various methods for analyzing time series related to the financial stability of railway transport. The research targets the structural divisions of “Uzbekistan Railways” JSC. Findings indicate that the development of the transport sector plays a crucial role in ensuring strategic financial stability for the railway enterprises and the country. The specifics of the transformation in railway transport are tied to the nature of the transportation process and are influenced by two groups of factors: general (independent of the transportation process) and specific (directly related to the services provided by railway transport enterprises). The research highlights the need to identify three components of financial stability linked to the flow of financial resources in the railway industry: private carriers, state-legal entities, and mixed enterprises. The research concludes that the optimal approach for railway transport involves a transformational division of the transportation process into three sectors: monopoly, competitive, and potentially competitive. In this model, the monopoly sector maintains control over the key areas of safe rolling stock operation.