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Side-by-side financial comparison of Knight-Swift Transportation Holdings Inc. (KNX) and Qnity Electronics, Inc. (Q). Click either name above to swap in a different company.
Knight-Swift Transportation Holdings Inc. is the larger business by last-quarter revenue ($1.9B vs $1.3B, roughly 1.5× Qnity Electronics, Inc.). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 0.0%, a 16.5% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (11.1% vs 1.4%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $56.9M).
Swift Transportation is an American truckload motor shipping carrier based in Phoenix, Arizona. In 2017, Swift merged with Knight Transportation, also of Phoenix, forming Knight-Swift.
KNX vs Q — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.3B |
| Net Profit | $96.0K | $211.0M |
| Gross Margin | — | 45.1% |
| Operating Margin | 1.5% | 21.3% |
| Net Margin | 0.0% | 16.5% |
| Revenue YoY | 1.4% | 11.1% |
| Net Profit YoY | -76.6% | 6.0% |
| EPS (diluted) | $-0.01 | $1.01 |
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 | $1.9B | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | $1.8B | — |
| Q1 26 | $96.0K | — | ||
| Q4 25 | $-6.8M | — | ||
| Q3 25 | $7.9M | $211.0M | ||
| Q2 25 | $34.2M | — | ||
| Q1 25 | $30.6M | — | ||
| Q4 24 | $69.5M | — | ||
| Q3 24 | $30.5M | $199.0M | ||
| Q2 24 | $20.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 45.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | — |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 1.4% | — | ||
| Q3 25 | 2.6% | 21.3% | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 4.3% | 21.8% | ||
| Q2 24 | 3.4% | — |
| Q1 26 | 0.0% | — | ||
| Q4 25 | -0.4% | — | ||
| Q3 25 | 0.4% | 16.5% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 1.6% | 17.3% | ||
| Q2 24 | 1.1% | — |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.04 | — | ||
| Q3 25 | $0.05 | $1.01 | ||
| Q2 25 | $0.21 | — | ||
| Q1 25 | $0.19 | — | ||
| Q4 24 | $0.43 | — | ||
| Q3 24 | $0.19 | $0.95 | ||
| Q2 24 | $0.13 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $222.8M | $128.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $7.1B | $9.1B |
| Total Assets | $11.9B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.8M | — | ||
| Q4 25 | $220.4M | — | ||
| Q3 25 | $192.7M | $128.0M | ||
| Q2 25 | $216.3M | — | ||
| Q1 25 | $209.5M | — | ||
| Q4 24 | $218.3M | — | ||
| Q3 24 | $166.3M | — | ||
| Q2 24 | $186.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.6B | — |
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.1B | — | ||
| Q3 25 | $7.1B | $9.1B | ||
| Q2 25 | $7.1B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.1B | — | ||
| Q3 24 | $7.1B | $11.1B | ||
| Q2 24 | $7.1B | — |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $12.0B | — | ||
| Q3 25 | $12.6B | $12.5B | ||
| Q2 25 | $12.5B | — | ||
| Q1 25 | $12.6B | — | ||
| Q4 24 | $12.7B | — | ||
| Q3 24 | $12.8B | — | ||
| Q2 24 | $12.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.25× | — | ||
| Q3 25 | 0.26× | 0.19× | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.26× | — | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 0.23× | — |
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 | $142.5M | $782.0M |
| Free Cash FlowOCF − Capex | $56.9M | $568.0M |
| FCF MarginFCF / Revenue | 3.1% | 44.5% |
| Capex IntensityCapex / Revenue | 4.6% | 16.8% |
| Cash ConversionOCF / Net Profit | 1484.79× | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.5M | — | ||
| Q4 25 | $723.2M | — | ||
| Q3 25 | $217.5M | $782.0M | ||
| Q2 25 | $216.5M | — | ||
| Q1 25 | $109.4M | — | ||
| Q4 24 | $274.3M | — | ||
| Q3 24 | $214.0M | — | ||
| Q2 24 | $273.4M | — |
| Q1 26 | $56.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $568.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 3.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 44.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 4.6% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 16.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 1484.79× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 27.67× | 3.71× | ||
| Q2 25 | 6.32× | — | ||
| Q1 25 | 3.57× | — | ||
| Q4 24 | 3.95× | — | ||
| Q3 24 | 7.03× | — | ||
| Q2 24 | 13.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KNX
| Revenue, excluding truckload and LTL fuel surcharge | $1.6B | 89% |
| Truckload and LTL fuel surcharge | $212.2M | 11% |
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
