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Side-by-side financial comparison of FedEx (FDX) and T-Mobile US (TMUS). Click either name above to swap in a different company.
FedEx is the larger business by last-quarter revenue ($23.5B vs $23.1B, roughly 1.0× T-Mobile US). T-Mobile US runs the higher net margin — 10.8% vs 4.1%, a 6.8% gap on every dollar of revenue. On growth, T-Mobile US posted the faster year-over-year revenue change (10.6% vs 6.8%). T-Mobile US produced more free cash flow last quarter ($4.6B vs $1.2B). Over the past eight quarters, T-Mobile US's revenue compounded faster (8.1% 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.
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its majority shareholder and namesake is the German telecommunications company Deutsche Telekom. T-Mobile is the second largest wireless carrier in the United States, with 140 million subscribers as of September 30, 2025.
FDX vs TMUS — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $23.5B | $23.1B |
| Net Profit | $956.0M | $2.5B |
| Gross Margin | — | — |
| Operating Margin | 5.9% | 20.8% |
| Net Margin | 4.1% | 10.8% |
| Revenue YoY | 6.8% | 10.6% |
| Net Profit YoY | 29.0% | -15.2% |
| EPS (diluted) | $4.04 | $2.27 |
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 | — | $23.1B | ||
| Q4 25 | $23.5B | $24.3B | ||
| Q3 25 | $22.2B | $22.0B | ||
| Q2 25 | $22.2B | $21.1B | ||
| Q1 25 | $22.2B | $20.9B | ||
| Q4 24 | $22.0B | $21.9B | ||
| Q3 24 | $21.6B | $20.2B | ||
| Q2 24 | $22.1B | $19.8B |
| Q1 26 | — | $2.5B | ||
| Q4 25 | $956.0M | $2.1B | ||
| Q3 25 | $824.0M | $2.7B | ||
| Q2 25 | $1.6B | $3.2B | ||
| Q1 25 | $909.0M | $3.0B | ||
| Q4 24 | $741.0M | $3.0B | ||
| Q3 24 | $794.0M | $3.1B | ||
| Q2 24 | $1.5B | $2.9B |
| Q1 26 | — | 20.8% | ||
| Q4 25 | 5.9% | 15.4% | ||
| Q3 25 | 5.3% | 20.6% | ||
| Q2 25 | 8.1% | 24.7% | ||
| Q1 25 | 5.8% | 23.0% | ||
| Q4 24 | 4.8% | 21.0% | ||
| Q3 24 | 5.0% | 23.8% | ||
| Q2 24 | 7.0% | 23.4% |
| Q1 26 | — | 10.8% | ||
| Q4 25 | 4.1% | 8.6% | ||
| Q3 25 | 3.7% | 12.4% | ||
| Q2 25 | 7.4% | 15.2% | ||
| Q1 25 | 4.1% | 14.1% | ||
| Q4 24 | 3.4% | 13.6% | ||
| Q3 24 | 3.7% | 15.2% | ||
| Q2 24 | 6.7% | 14.8% |
| Q1 26 | — | $2.27 | ||
| Q4 25 | $4.04 | $1.89 | ||
| Q3 25 | $3.46 | $2.41 | ||
| Q2 25 | $6.81 | $2.84 | ||
| Q1 25 | $3.76 | $2.58 | ||
| Q4 24 | $3.03 | $2.56 | ||
| Q3 24 | $3.21 | $2.61 | ||
| Q2 24 | $5.92 | $2.49 |
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 | $3.5B |
| Total DebtLower is stronger | $20.3B | $86.0B |
| Stockholders' EquityBook value | $28.1B | $55.9B |
| Total Assets | $89.2B | $214.7B |
| Debt / EquityLower = less leverage | 0.72× | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.5B | ||
| Q4 25 | $6.6B | $5.6B | ||
| Q3 25 | $6.2B | $3.3B | ||
| Q2 25 | $5.5B | $10.3B | ||
| Q1 25 | $5.1B | $12.0B | ||
| Q4 24 | $5.0B | $5.4B | ||
| Q3 24 | $5.9B | $9.8B | ||
| Q2 24 | $6.5B | $6.4B |
| Q1 26 | — | $86.0B | ||
| Q4 25 | $20.3B | $86.3B | ||
| Q3 25 | $20.3B | — | ||
| Q2 25 | $19.2B | — | ||
| Q1 25 | $19.5B | — | ||
| Q4 24 | $19.4B | $78.3B | ||
| Q3 24 | $19.7B | — | ||
| Q2 24 | $20.1B | — |
| Q1 26 | — | $55.9B | ||
| Q4 25 | $28.1B | $59.2B | ||
| Q3 25 | $27.8B | $60.5B | ||
| Q2 25 | $28.1B | $61.1B | ||
| Q1 25 | $26.7B | $61.1B | ||
| Q4 24 | $26.5B | $61.7B | ||
| Q3 24 | $27.2B | $64.3B | ||
| Q2 24 | $27.6B | $62.6B |
| Q1 26 | — | $214.7B | ||
| Q4 25 | $89.2B | $219.2B | ||
| Q3 25 | $88.4B | $217.2B | ||
| Q2 25 | $87.6B | $212.6B | ||
| Q1 25 | $85.0B | $214.6B | ||
| Q4 24 | $85.5B | $208.0B | ||
| Q3 24 | $86.7B | $210.7B | ||
| Q2 24 | $87.0B | $208.6B |
| Q1 26 | — | 1.54× | ||
| Q4 25 | 0.72× | 1.46× | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.73× | 1.27× | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 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 | $7.2B |
| Free Cash FlowOCF − Capex | $1.2B | $4.6B |
| FCF MarginFCF / Revenue | 5.1% | 19.9% |
| Capex IntensityCapex / Revenue | 3.2% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.04× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $18.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.2B | ||
| Q4 25 | $2.0B | $6.7B | ||
| Q3 25 | $1.7B | $7.5B | ||
| Q2 25 | $2.5B | $7.0B | ||
| Q1 25 | $2.0B | $6.8B | ||
| Q4 24 | $1.3B | $5.5B | ||
| Q3 24 | $1.2B | $6.1B | ||
| Q2 24 | $2.7B | $5.5B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $1.2B | $4.2B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | $1.0B | $4.6B | ||
| Q1 25 | $1.0B | $4.4B | ||
| Q4 24 | $500.0M | $3.3B | ||
| Q3 24 | $420.0M | $4.2B | ||
| Q2 24 | $1.5B | $3.5B |
| Q1 26 | — | 19.9% | ||
| Q4 25 | 5.1% | 17.2% | ||
| Q3 25 | 4.9% | 21.9% | ||
| Q2 25 | 4.7% | 21.7% | ||
| Q1 25 | 4.6% | 21.0% | ||
| Q4 24 | 2.3% | 15.3% | ||
| Q3 24 | 1.9% | 20.7% | ||
| Q2 24 | 6.8% | 17.6% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 3.2% | 10.1% | ||
| Q3 25 | 2.8% | 12.0% | ||
| Q2 25 | 6.6% | 11.3% | ||
| Q1 25 | 4.5% | 11.7% | ||
| Q4 24 | 3.7% | 10.1% | ||
| Q3 24 | 3.6% | 9.7% | ||
| Q2 24 | 5.4% | 10.3% |
| Q1 26 | — | 2.88× | ||
| Q4 25 | 2.04× | 3.16× | ||
| Q3 25 | 2.08× | 2.75× | ||
| Q2 25 | 1.53× | 2.17× | ||
| Q1 25 | 2.21× | 2.32× | ||
| Q4 24 | 1.78× | 1.86× | ||
| Q3 24 | 1.49× | 2.01× | ||
| Q2 24 | 1.83× | 1.89× |
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% |
TMUS
| Postpaid service revenues | $15.6B | 68% |
| Other | $7.5B | 32% |
