So... is Rail Wars! finished or not?
NO, it is not finished.
Why?
The anime finished before the manga:
Anime finished: September 19, 2014
Manga finished: December 14, 2020
MangaUpdates contains information about the anime adaptation and indicates that it is incomplete.
Watching Order (by release date)
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Synopsis
Rail Wars! is set in an alternate Japan where the national railway system is thriving under government control.
Naoto Takayama dreams of a comfortable life working for the railways and enters a rigorous training program.
He joins a team with Aoi Sakura, Sho Iwaizumi, and Haruka Komi, facing numerous challenges during their training.
They tackle daily incidents like theft and bomb threats while also opposing a group that wants to privatize the railway, threatening its stability.
The series focuses on their training and efforts to protect the railway system from various dangers.