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Side-by-side financial comparison of FedEx (FDX) and Coca-Cola Company (The) (KO). Click either name above to swap in a different company.
FedEx is the larger business by last-quarter revenue ($23.5B vs $11.8B, roughly 2.0× Coca-Cola Company (The)). Coca-Cola Company (The) runs the higher net margin — 19.2% vs 4.1%, a 15.1% gap on every dollar of revenue. On growth, FedEx posted the faster year-over-year revenue change (6.8% vs 2.4%). Coca-Cola Company (The) produced more free cash flow last quarter ($2.9B vs $1.2B). Over the past eight quarters, FedEx's revenue compounded faster (3.9% CAGR vs 2.3%).
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.
The Coca-Cola Company is an American multinational corporation founded in 1892 headquartered in Atlanta, Georgia. It manufactures, sells and markets soft drinks including Coca-Cola, other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. Its stock is listed on the New York Stock Exchange and is a component of the DJIA and the S&P 500 and S&P 100 indices.
FDX vs KO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.5B | $11.8B |
| Net Profit | $956.0M | $2.3B |
| Gross Margin | — | 60.0% |
| Operating Margin | 5.9% | 15.6% |
| Net Margin | 4.1% | 19.2% |
| Revenue YoY | 6.8% | 2.4% |
| Net Profit YoY | 29.0% | 3.5% |
| EPS (diluted) | $4.04 | $0.53 |
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.
| Q4 25 | $23.5B | $11.8B | ||
| Q3 25 | $22.2B | $12.5B | ||
| Q2 25 | $22.2B | $12.5B | ||
| Q1 25 | $22.2B | $11.1B | ||
| Q4 24 | $22.0B | $11.5B | ||
| Q3 24 | $21.6B | $11.9B | ||
| Q2 24 | $22.1B | $12.4B | ||
| Q1 24 | $21.7B | $11.3B |
| Q4 25 | $956.0M | $2.3B | ||
| Q3 25 | $824.0M | $3.7B | ||
| Q2 25 | $1.6B | $3.8B | ||
| Q1 25 | $909.0M | $3.3B | ||
| Q4 24 | $741.0M | $2.2B | ||
| Q3 24 | $794.0M | $2.8B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $879.0M | $3.2B |
| Q4 25 | — | 60.0% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 62.4% | ||
| Q1 25 | — | 62.6% | ||
| Q4 24 | — | 60.0% | ||
| Q3 24 | — | 60.7% | ||
| Q2 24 | — | 61.1% | ||
| Q1 24 | — | 62.5% |
| Q4 25 | 5.9% | 15.6% | ||
| Q3 25 | 5.3% | 32.0% | ||
| Q2 25 | 8.1% | 34.1% | ||
| Q1 25 | 5.8% | 32.9% | ||
| Q4 24 | 4.8% | 23.5% | ||
| Q3 24 | 5.0% | 21.2% | ||
| Q2 24 | 7.0% | 21.3% | ||
| Q1 24 | 5.7% | 18.9% |
| Q4 25 | 4.1% | 19.2% | ||
| Q3 25 | 3.7% | 29.7% | ||
| Q2 25 | 7.4% | 30.4% | ||
| Q1 25 | 4.1% | 29.9% | ||
| Q4 24 | 3.4% | 19.0% | ||
| Q3 24 | 3.7% | 24.0% | ||
| Q2 24 | 6.7% | 19.5% | ||
| Q1 24 | 4.0% | 28.1% |
| Q4 25 | $4.04 | $0.53 | ||
| Q3 25 | $3.46 | $0.86 | ||
| Q2 25 | $6.81 | $0.88 | ||
| Q1 25 | $3.76 | $0.77 | ||
| Q4 24 | $3.03 | $0.50 | ||
| Q3 24 | $3.21 | $0.66 | ||
| Q2 24 | $5.92 | $0.56 | ||
| Q1 24 | $3.51 | $0.74 |
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 | $10.3B |
| Total DebtLower is stronger | $20.3B | $42.1B |
| Stockholders' EquityBook value | $28.1B | $32.2B |
| Total Assets | $89.2B | $104.8B |
| Debt / EquityLower = less leverage | 0.72× | 1.31× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.6B | $10.3B | ||
| Q3 25 | $6.2B | $12.7B | ||
| Q2 25 | $5.5B | $9.6B | ||
| Q1 25 | $5.1B | $8.4B | ||
| Q4 24 | $5.0B | $10.8B | ||
| Q3 24 | $5.9B | $13.9B | ||
| Q2 24 | $6.5B | $13.7B | ||
| Q1 24 | $5.6B | $10.4B |
| Q4 25 | $20.3B | $42.1B | ||
| Q3 25 | $20.3B | $43.2B | ||
| Q2 25 | $19.2B | $45.0B | ||
| Q1 25 | $19.5B | $43.5B | ||
| Q4 24 | $19.4B | $42.4B | ||
| Q3 24 | $19.7B | $43.0B | ||
| Q2 24 | $20.1B | $38.1B | ||
| Q1 24 | $20.1B | $36.5B |
| Q4 25 | $28.1B | $32.2B | ||
| Q3 25 | $27.8B | $31.2B | ||
| Q2 25 | $28.1B | $28.6B | ||
| Q1 25 | $26.7B | $26.2B | ||
| Q4 24 | $26.5B | $24.9B | ||
| Q3 24 | $27.2B | $26.5B | ||
| Q2 24 | $27.6B | $25.9B | ||
| Q1 24 | $26.4B | $26.4B |
| Q4 25 | $89.2B | $104.8B | ||
| Q3 25 | $88.4B | $106.0B | ||
| Q2 25 | $87.6B | $104.3B | ||
| Q1 25 | $85.0B | $101.7B | ||
| Q4 24 | $85.5B | $100.5B | ||
| Q3 24 | $86.7B | $106.3B | ||
| Q2 24 | $87.0B | $101.2B | ||
| Q1 24 | $86.1B | $99.4B |
| Q4 25 | 0.72× | 1.31× | ||
| Q3 25 | 0.73× | 1.38× | ||
| Q2 25 | 0.68× | 1.57× | ||
| Q1 25 | 0.73× | 1.66× | ||
| Q4 24 | 0.73× | 1.70× | ||
| Q3 24 | 0.72× | 1.62× | ||
| Q2 24 | 0.73× | 1.47× | ||
| Q1 24 | 0.76× | 1.38× |
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 | $3.8B |
| Free Cash FlowOCF − Capex | $1.2B | $2.9B |
| FCF MarginFCF / Revenue | 5.1% | 24.3% |
| Capex IntensityCapex / Revenue | 3.2% | 7.5% |
| Cash ConversionOCF / Net Profit | 2.04× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $5.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $3.8B | ||
| Q3 25 | $1.7B | $5.0B | ||
| Q2 25 | $2.5B | $3.8B | ||
| Q1 25 | $2.0B | $-5.2B | ||
| Q4 24 | $1.3B | $4.0B | ||
| Q3 24 | $1.2B | $-1.3B | ||
| Q2 24 | $2.7B | $3.6B | ||
| Q1 24 | $1.6B | $528.0M |
| Q4 25 | $1.2B | $2.9B | ||
| Q3 25 | $1.1B | $4.6B | ||
| Q2 25 | $1.0B | $3.4B | ||
| Q1 25 | $1.0B | $-5.5B | ||
| Q4 24 | $500.0M | $3.1B | ||
| Q3 24 | $420.0M | $-1.7B | ||
| Q2 24 | $1.5B | $3.2B | ||
| Q1 24 | $231.0M | $158.0M |
| Q4 25 | 5.1% | 24.3% | ||
| Q3 25 | 4.9% | 36.6% | ||
| Q2 25 | 4.7% | 26.9% | ||
| Q1 25 | 4.6% | -49.5% | ||
| Q4 24 | 2.3% | 27.3% | ||
| Q3 24 | 1.9% | -14.6% | ||
| Q2 24 | 6.8% | 25.6% | ||
| Q1 24 | 1.1% | 1.4% |
| Q4 25 | 3.2% | 7.5% | ||
| Q3 25 | 2.8% | 3.8% | ||
| Q2 25 | 6.6% | 3.5% | ||
| Q1 25 | 4.5% | 2.8% | ||
| Q4 24 | 3.7% | 7.0% | ||
| Q3 24 | 3.6% | 4.0% | ||
| Q2 24 | 5.4% | 3.4% | ||
| Q1 24 | 6.3% | 3.3% |
| Q4 25 | 2.04× | 1.65× | ||
| Q3 25 | 2.08× | 1.36× | ||
| Q2 25 | 1.53× | 1.00× | ||
| Q1 25 | 2.21× | -1.56× | ||
| Q4 24 | 1.78× | 1.80× | ||
| Q3 24 | 1.49× | -0.44× | ||
| Q2 24 | 1.83× | 1.49× | ||
| Q1 24 | 1.83× | 0.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
KO
| Other | $7.0B | 59% |
| Finished Product Operations | $2.4B | 21% |
| Concentrate Operations | $2.4B | 20% |
