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Side-by-side financial comparison of FedEx (FDX) and Procter & Gamble (PG). Click either name above to swap in a different company.
FedEx is the larger business by last-quarter revenue ($23.5B vs $22.2B, roughly 1.1× Procter & Gamble). Procter & Gamble runs the higher net margin — 19.4% vs 4.1%, a 15.4% gap on every dollar of revenue. On growth, FedEx posted the faster year-over-year revenue change (6.8% vs 1.5%). Procter & Gamble produced more free cash flow last quarter ($3.8B vs $1.2B). Over the past eight quarters, Procter & Gamble's revenue compounded faster (4.9% CAGR vs 3.9%).
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 Procter & Gamble Company (P&G) is an American multinational consumer goods corporation incorporated and headquartered in Cincinnati, Ohio.
FDX vs PG — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $23.5B | $22.2B |
| Net Profit | $956.0M | $4.3B |
| Gross Margin | — | 51.2% |
| Operating Margin | 5.9% | 24.2% |
| Net Margin | 4.1% | 19.4% |
| Revenue YoY | 6.8% | 1.5% |
| Net Profit YoY | 29.0% | -6.7% |
| EPS (diluted) | $4.04 | $1.78 |
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 | $22.2B | ||
| Q3 25 | $22.2B | $22.4B | ||
| Q2 25 | $22.2B | $20.9B | ||
| Q1 25 | $22.2B | $19.8B | ||
| Q4 24 | $22.0B | $21.9B | ||
| Q3 24 | $21.6B | $21.7B | ||
| Q2 24 | $22.1B | $20.5B | ||
| Q1 24 | $21.7B | $20.2B |
| Q4 25 | $956.0M | $4.3B | ||
| Q3 25 | $824.0M | $4.8B | ||
| Q2 25 | $1.6B | $3.6B | ||
| Q1 25 | $909.0M | $3.8B | ||
| Q4 24 | $741.0M | $4.6B | ||
| Q3 24 | $794.0M | $4.0B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $879.0M | $3.8B |
| Q4 25 | — | 51.2% | ||
| Q3 25 | — | 51.4% | ||
| Q2 25 | — | 49.1% | ||
| Q1 25 | — | 51.0% | ||
| Q4 24 | — | 52.4% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 49.6% | ||
| Q1 24 | — | 51.2% |
| Q4 25 | 5.9% | 24.2% | ||
| Q3 25 | 5.3% | 26.2% | ||
| Q2 25 | 8.1% | 20.8% | ||
| Q1 25 | 5.8% | 23.0% | ||
| Q4 24 | 4.8% | 26.2% | ||
| Q3 24 | 5.0% | 26.7% | ||
| Q2 24 | 7.0% | 18.9% | ||
| Q1 24 | 5.7% | 22.1% |
| Q4 25 | 4.1% | 19.4% | ||
| Q3 25 | 3.7% | 21.2% | ||
| Q2 25 | 7.4% | 17.3% | ||
| Q1 25 | 4.1% | 19.1% | ||
| Q4 24 | 3.4% | 21.2% | ||
| Q3 24 | 3.7% | 18.2% | ||
| Q2 24 | 6.7% | 15.3% | ||
| Q1 24 | 4.0% | 18.6% |
| Q4 25 | $4.04 | $1.78 | ||
| Q3 25 | $3.46 | $1.95 | ||
| Q2 25 | $6.81 | $1.48 | ||
| Q1 25 | $3.76 | $1.54 | ||
| Q4 24 | $3.03 | $1.88 | ||
| Q3 24 | $3.21 | $1.61 | ||
| Q2 24 | $5.92 | $1.27 | ||
| Q1 24 | $3.51 | $1.52 |
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 | $20.3B | — |
| Stockholders' EquityBook value | $28.1B | $53.3B |
| Total Assets | $89.2B | $127.3B |
| Debt / EquityLower = less leverage | 0.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $5.5B | — | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $6.5B | — | ||
| Q1 24 | $5.6B | — |
| Q4 25 | $20.3B | — | ||
| Q3 25 | $20.3B | — | ||
| Q2 25 | $19.2B | — | ||
| Q1 25 | $19.5B | — | ||
| Q4 24 | $19.4B | — | ||
| Q3 24 | $19.7B | — | ||
| Q2 24 | $20.1B | — | ||
| Q1 24 | $20.1B | — |
| Q4 25 | $28.1B | $53.3B | ||
| Q3 25 | $27.8B | $53.6B | ||
| Q2 25 | $28.1B | $52.3B | ||
| Q1 25 | $26.7B | $52.5B | ||
| Q4 24 | $26.5B | $51.4B | ||
| Q3 24 | $27.2B | $52.1B | ||
| Q2 24 | $27.6B | $50.6B | ||
| Q1 24 | $26.4B | $50.3B |
| Q4 25 | $89.2B | $127.3B | ||
| Q3 25 | $88.4B | $127.6B | ||
| Q2 25 | $87.6B | $125.2B | ||
| Q1 25 | $85.0B | $123.0B | ||
| Q4 24 | $85.5B | $122.6B | ||
| Q3 24 | $86.7B | $126.5B | ||
| Q2 24 | $87.0B | $122.4B | ||
| Q1 24 | $86.1B | $119.6B |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 0.73× | — | ||
| Q1 24 | 0.76× | — |
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 | $5.0B |
| Free Cash FlowOCF − Capex | $1.2B | $3.8B |
| FCF MarginFCF / Revenue | 5.1% | 17.1% |
| Capex IntensityCapex / Revenue | 3.2% | 5.3% |
| Cash ConversionOCF / Net Profit | 2.04× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $14.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $5.0B | ||
| Q3 25 | $1.7B | $5.4B | ||
| Q2 25 | $2.5B | $5.0B | ||
| Q1 25 | $2.0B | $3.7B | ||
| Q4 24 | $1.3B | $4.8B | ||
| Q3 24 | $1.2B | $4.3B | ||
| Q2 24 | $2.7B | $5.8B | ||
| Q1 24 | $1.6B | $4.1B |
| Q4 25 | $1.2B | $3.8B | ||
| Q3 25 | $1.1B | $4.2B | ||
| Q2 25 | $1.0B | $4.0B | ||
| Q1 25 | $1.0B | $2.8B | ||
| Q4 24 | $500.0M | $3.9B | ||
| Q3 24 | $420.0M | $3.3B | ||
| Q2 24 | $1.5B | $5.0B | ||
| Q1 24 | $231.0M | $3.3B |
| Q4 25 | 5.1% | 17.1% | ||
| Q3 25 | 4.9% | 18.8% | ||
| Q2 25 | 4.7% | 19.1% | ||
| Q1 25 | 4.6% | 14.4% | ||
| Q4 24 | 2.3% | 17.8% | ||
| Q3 24 | 1.9% | 15.2% | ||
| Q2 24 | 6.8% | 24.2% | ||
| Q1 24 | 1.1% | 16.3% |
| Q4 25 | 3.2% | 5.3% | ||
| Q3 25 | 2.8% | 5.4% | ||
| Q2 25 | 6.6% | 4.8% | ||
| Q1 25 | 4.5% | 4.3% | ||
| Q4 24 | 3.7% | 4.2% | ||
| Q3 24 | 3.6% | 4.6% | ||
| Q2 24 | 5.4% | 3.8% | ||
| Q1 24 | 6.3% | 3.9% |
| Q4 25 | 2.04× | 1.15× | ||
| Q3 25 | 2.08× | 1.14× | ||
| Q2 25 | 1.53× | 1.38× | ||
| Q1 25 | 2.21× | 0.98× | ||
| Q4 24 | 1.78× | 1.04× | ||
| Q3 24 | 1.49× | 1.09× | ||
| Q2 24 | 1.83× | 1.83× | ||
| Q1 24 | 1.83× | 1.09× |
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% |
PG
| Fabric Home Care Segment | $7.7B | 35% |
| Baby Feminine Family Care Segment | $5.1B | 23% |
| Beauty Segment | $4.0B | 18% |
| Health Care Segment | $3.4B | 15% |
| Grooming Segment | $1.8B | 8% |
