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Side-by-side financial comparison of Knight-Swift Transportation Holdings Inc. (KNX) and RXO, Inc. (RXO). 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 $1.5B, roughly 1.3× RXO, Inc.). Knight-Swift Transportation Holdings Inc. runs the higher net margin — 0.0% vs -3.1%, a 3.1% gap on every dollar of revenue. On growth, Knight-Swift Transportation Holdings Inc. posted the faster year-over-year revenue change (1.4% vs -11.9%). Knight-Swift Transportation Holdings Inc. produced more free cash flow last quarter ($56.9M vs $-9.0M). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% CAGR vs 0.1%).
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.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
KNX vs RXO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.5B |
| Net Profit | $96.0K | $-46.0M |
| Gross Margin | — | — |
| Operating Margin | 1.5% | -2.9% |
| Net Margin | 0.0% | -3.1% |
| Revenue YoY | 1.4% | -11.9% |
| Net Profit YoY | -76.6% | -84.0% |
| EPS (diluted) | $-0.01 | $-0.28 |
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 | $1.5B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.8B | $1.4B | ||
| Q4 24 | $1.9B | $1.7B | ||
| Q3 24 | $1.9B | $1.0B | ||
| Q2 24 | $1.8B | $930.0M |
| Q1 26 | $96.0K | — | ||
| Q4 25 | $-6.8M | $-46.0M | ||
| Q3 25 | $7.9M | $-14.0M | ||
| Q2 25 | $34.2M | $-9.0M | ||
| Q1 25 | $30.6M | $-31.0M | ||
| Q4 24 | $69.5M | $-25.0M | ||
| Q3 24 | $30.5M | $-243.0M | ||
| Q2 24 | $20.3M | $-7.0M |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 1.4% | -2.9% | ||
| Q3 25 | 2.6% | -0.5% | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 3.7% | -2.1% | ||
| Q4 24 | 4.2% | -1.4% | ||
| Q3 24 | 4.3% | -1.9% | ||
| Q2 24 | 3.4% | — |
| Q1 26 | 0.0% | — | ||
| Q4 25 | -0.4% | -3.1% | ||
| Q3 25 | 0.4% | -1.0% | ||
| Q2 25 | 1.8% | -0.6% | ||
| Q1 25 | 1.7% | -2.2% | ||
| Q4 24 | 3.7% | -1.5% | ||
| Q3 24 | 1.6% | -23.4% | ||
| Q2 24 | 1.1% | -0.8% |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.04 | $-0.28 | ||
| Q3 25 | $0.05 | $-0.08 | ||
| Q2 25 | $0.21 | $-0.05 | ||
| Q1 25 | $0.19 | $-0.18 | ||
| Q4 24 | $0.43 | $-0.17 | ||
| Q3 24 | $0.19 | $-1.81 | ||
| Q2 24 | $0.13 | $-0.06 |
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 | $17.0M |
| Total DebtLower is stronger | — | $387.0M |
| Stockholders' EquityBook value | $7.1B | $1.5B |
| Total Assets | $11.9B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.8M | — | ||
| Q4 25 | $220.4M | $17.0M | ||
| Q3 25 | $192.7M | $25.0M | ||
| Q2 25 | $216.3M | $18.0M | ||
| Q1 25 | $209.5M | $16.0M | ||
| Q4 24 | $218.3M | $35.0M | ||
| Q3 24 | $166.3M | $55.0M | ||
| Q2 24 | $186.5M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $387.0M | ||
| Q3 25 | $1.9B | $387.0M | ||
| Q2 25 | $1.8B | $387.0M | ||
| Q1 25 | $1.8B | $387.0M | ||
| Q4 24 | $1.8B | $351.0M | ||
| Q3 24 | $1.9B | $352.0M | ||
| Q2 24 | $1.6B | $370.0M |
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.1B | $1.5B | ||
| Q3 25 | $7.1B | $1.6B | ||
| Q2 25 | $7.1B | $1.6B | ||
| Q1 25 | $7.1B | $1.6B | ||
| Q4 24 | $7.1B | $1.6B | ||
| Q3 24 | $7.1B | $1.7B | ||
| Q2 24 | $7.1B | $579.0M |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $12.0B | $3.3B | ||
| Q3 25 | $12.6B | $3.2B | ||
| Q2 25 | $12.5B | $3.2B | ||
| Q1 25 | $12.6B | $3.3B | ||
| Q4 24 | $12.7B | $3.4B | ||
| Q3 24 | $12.8B | $3.4B | ||
| Q2 24 | $12.6B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.25× | 0.25× | ||
| Q3 25 | 0.26× | 0.24× | ||
| Q2 25 | 0.26× | 0.24× | ||
| Q1 25 | 0.26× | 0.24× | ||
| Q4 24 | 0.26× | 0.22× | ||
| Q3 24 | 0.26× | 0.21× | ||
| Q2 24 | 0.23× | 0.64× |
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 | $7.0M |
| Free Cash FlowOCF − Capex | $56.9M | $-9.0M |
| FCF MarginFCF / Revenue | 3.1% | -0.6% |
| Capex IntensityCapex / Revenue | 4.6% | 1.1% |
| Cash ConversionOCF / Net Profit | 1484.79× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.5M | — | ||
| Q4 25 | $723.2M | $7.0M | ||
| Q3 25 | $217.5M | $23.0M | ||
| Q2 25 | $216.5M | $23.0M | ||
| Q1 25 | $109.4M | $-2.0M | ||
| Q4 24 | $274.3M | $-7.0M | ||
| Q3 24 | $214.0M | $-7.0M | ||
| Q2 24 | $273.4M | $-5.0M |
| Q1 26 | $56.9M | — | ||
| Q4 25 | — | $-9.0M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | — | $-18.0M | ||
| Q2 24 | — | $-16.0M |
| Q1 26 | 3.1% | — | ||
| Q4 25 | — | -0.6% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | — | -1.7% |
| Q1 26 | 4.6% | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% |
| Q1 26 | 1484.79× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 27.67× | — | ||
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
