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Side-by-side financial comparison of American Express (AXP) and FedEx (FDX). Click either name above to swap in a different company.
FedEx is the larger business by last-quarter revenue ($23.5B vs $18.9B, roughly 1.2× American Express). American Express runs the higher net margin — 15.7% vs 4.1%, a 11.6% gap on every dollar of revenue. On growth, American Express posted the faster year-over-year revenue change (11.4% vs 6.8%). Over the past eight quarters, American Express's revenue compounded faster (38.8% CAGR vs 3.9%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
FedEx Corporation, originally known as Federal Express Corporation, is an American multinational conglomerate holding company specializing in transportation, e-commerce, and business services. The company is headquartered in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of its original air division, Federal Express, which operated under this name from 1973 until 1994.
AXP vs FDX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $18.9B | $23.5B |
| Net Profit | $3.0B | $956.0M |
| Gross Margin | — | — |
| Operating Margin | — | 5.9% |
| Net Margin | 15.7% | 4.1% |
| Revenue YoY | 11.4% | 6.8% |
| Net Profit YoY | 15.0% | 29.0% |
| EPS (diluted) | $4.28 | $4.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $18.9B | — | ||
| Q4 25 | $10.9B | $23.5B | ||
| Q3 25 | $10.4B | $22.2B | ||
| Q2 25 | $10.3B | $22.2B | ||
| Q1 25 | $9.6B | $22.2B | ||
| Q4 24 | $10.0B | $22.0B | ||
| Q3 24 | $9.7B | $21.6B | ||
| Q2 24 | $9.8B | $22.1B |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.5B | $956.0M | ||
| Q3 25 | $2.9B | $824.0M | ||
| Q2 25 | $2.9B | $1.6B | ||
| Q1 25 | $2.6B | $909.0M | ||
| Q4 24 | $2.2B | $741.0M | ||
| Q3 24 | $2.5B | $794.0M | ||
| Q2 24 | $3.0B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 5.9% | ||
| Q3 25 | 36.7% | 5.3% | ||
| Q2 25 | 34.4% | 8.1% | ||
| Q1 25 | 34.6% | 5.8% | ||
| Q4 24 | 27.7% | 4.8% | ||
| Q3 24 | 33.0% | 5.0% | ||
| Q2 24 | 38.6% | 7.0% |
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | 4.1% | ||
| Q3 25 | 27.9% | 3.7% | ||
| Q2 25 | 28.0% | 7.4% | ||
| Q1 25 | 26.8% | 4.1% | ||
| Q4 24 | 21.8% | 3.4% | ||
| Q3 24 | 25.8% | 3.7% | ||
| Q2 24 | 30.7% | 6.7% |
| Q1 26 | $4.28 | — | ||
| Q4 25 | $3.52 | $4.04 | ||
| Q3 25 | $4.14 | $3.46 | ||
| Q2 25 | $4.08 | $6.81 | ||
| Q1 25 | $3.64 | $3.76 | ||
| Q4 24 | $3.04 | $3.03 | ||
| Q3 24 | $3.49 | $3.21 | ||
| Q2 24 | $4.15 | $5.92 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $6.6B |
| Total DebtLower is stronger | $60.4M | $20.3B |
| Stockholders' EquityBook value | $34.0M | $28.1B |
| Total Assets | $308.9M | $89.2B |
| Debt / EquityLower = less leverage | 1.78× | 0.72× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $6.6B | ||
| Q3 25 | $1.3B | $6.2B | ||
| Q2 25 | $197.0M | $5.5B | ||
| Q1 25 | $261.0M | $5.1B | ||
| Q4 24 | $221.0M | $5.0B | ||
| Q3 24 | $120.0M | $5.9B | ||
| Q2 24 | $188.0M | $6.5B |
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $20.3B | ||
| Q3 25 | $57.8B | $20.3B | ||
| Q2 25 | $58.2B | $19.2B | ||
| Q1 25 | $51.2B | $19.5B | ||
| Q4 24 | $49.7B | $19.4B | ||
| Q3 24 | $53.5B | $19.7B | ||
| Q2 24 | $51.5B | $20.1B |
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $28.1B | ||
| Q3 25 | $32.4B | $27.8B | ||
| Q2 25 | $32.3B | $28.1B | ||
| Q1 25 | $31.2B | $26.7B | ||
| Q4 24 | $30.3B | $26.5B | ||
| Q3 24 | $29.7B | $27.2B | ||
| Q2 24 | $29.5B | $27.6B |
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $89.2B | ||
| Q3 25 | $297.6B | $88.4B | ||
| Q2 25 | $295.6B | $87.6B | ||
| Q1 25 | $282.2B | $85.0B | ||
| Q4 24 | $271.5B | $85.5B | ||
| Q3 24 | $271.0B | $86.7B | ||
| Q2 24 | $272.2B | $87.0B |
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 0.72× | ||
| Q3 25 | 1.78× | 0.73× | ||
| Q2 25 | 1.80× | 0.68× | ||
| Q1 25 | 1.64× | 0.73× | ||
| Q4 24 | 1.64× | 0.73× | ||
| Q3 24 | 1.80× | 0.72× | ||
| Q2 24 | 1.74× | 0.73× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $2.0B |
| Free Cash FlowOCF − Capex | — | $1.2B |
| FCF MarginFCF / Revenue | — | 5.1% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $6.2B | $1.7B | ||
| Q2 25 | $4.4B | $2.5B | ||
| Q1 25 | $4.8B | $2.0B | ||
| Q4 24 | $5.8B | $1.3B | ||
| Q3 24 | $-1.8B | $1.2B | ||
| Q2 24 | $4.5B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $5.6B | $1.1B | ||
| Q2 25 | $3.7B | $1.0B | ||
| Q1 25 | $4.3B | $1.0B | ||
| Q4 24 | $5.3B | $500.0M | ||
| Q3 24 | $-2.3B | $420.0M | ||
| Q2 24 | $4.0B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | 5.1% | ||
| Q3 25 | 53.6% | 4.9% | ||
| Q2 25 | 36.3% | 4.7% | ||
| Q1 25 | 45.0% | 4.6% | ||
| Q4 24 | 53.1% | 2.3% | ||
| Q3 24 | -23.3% | 1.9% | ||
| Q2 24 | 40.4% | 6.8% |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 3.2% | ||
| Q3 25 | 6.3% | 2.8% | ||
| Q2 25 | 6.0% | 6.6% | ||
| Q1 25 | 4.5% | 4.5% | ||
| Q4 24 | 5.0% | 3.7% | ||
| Q3 24 | 4.7% | 3.6% | ||
| Q2 24 | 5.8% | 5.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | 2.04× | ||
| Q3 25 | 2.15× | 2.08× | ||
| Q2 25 | 1.51× | 1.53× | ||
| Q1 25 | 1.84× | 2.21× | ||
| Q4 24 | 2.66× | 1.78× | ||
| Q3 24 | -0.72× | 1.49× | ||
| Q2 24 | 1.50× | 1.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
Segment breakdown not available.
FDX
| United States Ground | $9.2B | 39% |
| United States Priority | $2.8B | 12% |
| Other | $2.2B | 9% |
| Fedex Freight Segment | $2.1B | 9% |
| International Economy | $1.5B | 6% |
| Freight Revenue | $1.5B | 6% |
| United States Deferred | $1.4B | 6% |
| International Domestic | $1.3B | 5% |
| International Economy Freight | $582.0M | 2% |
| United States Freight | $304.0M | 1% |
| Other International Revenue | $240.0M | 1% |
