FedEx Freight vs Knight-Swift
FedEx Freight reported revenue of $8.8 billion in fiscal 2026, 1.2 times Knight-Swift's $7.5 billion in fiscal 2025. FedEx Freight's revenue fell 1.1% in its latest year, and Knight-Swift's grew 0.8%. FedEx Freight had an operating margin of 6.1%, against 2.9% at Knight-Swift. Free cash flow was −$212 million at FedEx Freight and $1.3 billion at Knight-Swift. Their fiscal years end in different months (May 31 and December 31), so the periods don't line up exactly.
Side by side
| FedEx Freight | Knight-Swift | |
|---|---|---|
| Latest fiscal year | FY2026, May 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $8.8B | $7.5B |
| Revenue growth | −1.1% | 0.8% |
| Revenue growth a year, last 5 years | — | 9.8% |
| Gross margin | — | — |
| Operating margin | 6.1% | 2.9% |
| Net margin | 7.5% | 0.9% |
| Free cash flow | −$212M | $1.3B |
| Free cash flow margin | −2.4% | 16.9% |
| Return on capital | 13.0% | 1.6% |
| Net debt to EBITDA | 4.1x | 2.1x |
| Dividends and buybacks | $48M | $117M |
| Change in diluted share count | 0.0% | 0.3% |
| Last close | $109.45 | $60.43 |
| P/E at the last close | 25.0× | — |
| Insider trades, last 12 months | — | sold $25.7 million |
| Piotroski F-score | — | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
FedEx FreightKnight-Swift
Operating margin
Percent of revenue
FedEx FreightKnight-Swift
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
FedEx FreightKnight-Swift
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the FedEx Freight and Knight-Swift pages.