vs
Side-by-side financial comparison of Knight-Swift Transportation Holdings Inc. (KNX) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
SHOPIFY INC. is the larger business by last-quarter revenue ($3.7B vs $1.9B, roughly 2.0× Knight-Swift Transportation Holdings Inc.). SHOPIFY INC. runs the higher net margin — 20.2% vs 0.0%, a 20.2% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 1.4%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $56.9M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% 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.
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
KNX vs SHOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $3.7B |
| Net Profit | $96.0K | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | 1.5% | 17.2% |
| Net Margin | 0.0% | 20.2% |
| Revenue YoY | 1.4% | 30.6% |
| Net Profit YoY | -76.6% | -42.5% |
| EPS (diluted) | $-0.01 | $0.58 |
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 | $3.7B | ||
| Q3 25 | $1.9B | $2.8B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.8B | $2.4B | ||
| Q4 24 | $1.9B | $2.8B | ||
| Q3 24 | $1.9B | $2.2B | ||
| Q2 24 | $1.8B | $2.0B |
| Q1 26 | $96.0K | — | ||
| Q4 25 | $-6.8M | $743.0M | ||
| Q3 25 | $7.9M | $264.0M | ||
| Q2 25 | $34.2M | $906.0M | ||
| Q1 25 | $30.6M | $-682.0M | ||
| Q4 24 | $69.5M | $1.3B | ||
| Q3 24 | $30.5M | $828.0M | ||
| Q2 24 | $20.3M | $171.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.1% | ||
| Q3 25 | — | 48.9% | ||
| Q2 25 | — | 48.6% | ||
| Q1 25 | — | 49.5% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | — | 51.7% | ||
| Q2 24 | — | 51.1% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 1.4% | 17.2% | ||
| Q3 25 | 2.6% | 12.1% | ||
| Q2 25 | 3.9% | 10.9% | ||
| Q1 25 | 3.7% | 8.6% | ||
| Q4 24 | 4.2% | 16.5% | ||
| Q3 24 | 4.3% | 13.1% | ||
| Q2 24 | 3.4% | 11.8% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | -0.4% | 20.2% | ||
| Q3 25 | 0.4% | 9.3% | ||
| Q2 25 | 1.8% | 33.8% | ||
| Q1 25 | 1.7% | -28.9% | ||
| Q4 24 | 3.7% | 46.0% | ||
| Q3 24 | 1.6% | 38.3% | ||
| Q2 24 | 1.1% | 8.4% |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.04 | $0.58 | ||
| Q3 25 | $0.05 | $0.20 | ||
| Q2 25 | $0.21 | $0.69 | ||
| Q1 25 | $0.19 | $-0.53 | ||
| Q4 24 | $0.43 | $0.99 | ||
| Q3 24 | $0.19 | $0.64 | ||
| Q2 24 | $0.13 | $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 | $5.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.1B | $13.5B |
| Total Assets | $11.9B | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.8M | — | ||
| Q4 25 | $220.4M | $5.8B | ||
| Q3 25 | $192.7M | $6.3B | ||
| Q2 25 | $216.3M | $5.8B | ||
| Q1 25 | $209.5M | $5.5B | ||
| Q4 24 | $218.3M | $5.5B | ||
| Q3 24 | $166.3M | — | ||
| Q2 24 | $186.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.9B | — | ||
| 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 | $13.5B | ||
| Q3 25 | $7.1B | $12.5B | ||
| Q2 25 | $7.1B | $12.1B | ||
| Q1 25 | $7.1B | $11.1B | ||
| Q4 24 | $7.1B | $11.6B | ||
| Q3 24 | $7.1B | $10.1B | ||
| Q2 24 | $7.1B | $9.2B |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $12.0B | $15.2B | ||
| Q3 25 | $12.6B | $15.0B | ||
| Q2 25 | $12.5B | $14.6B | ||
| Q1 25 | $12.6B | $13.4B | ||
| Q4 24 | $12.7B | $13.9B | ||
| Q3 24 | $12.8B | — | ||
| Q2 24 | $12.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.25× | — | ||
| Q3 25 | 0.26× | — | ||
| 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 | $725.0M |
| Free Cash FlowOCF − Capex | $56.9M | $715.0M |
| FCF MarginFCF / Revenue | 3.1% | 19.5% |
| Capex IntensityCapex / Revenue | 4.6% | 0.3% |
| Cash ConversionOCF / Net Profit | 1484.79× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.5M | — | ||
| Q4 25 | $723.2M | $725.0M | ||
| Q3 25 | $217.5M | $513.0M | ||
| Q2 25 | $216.5M | $428.0M | ||
| Q1 25 | $109.4M | $367.0M | ||
| Q4 24 | $274.3M | $615.0M | ||
| Q3 24 | $214.0M | $423.0M | ||
| Q2 24 | $273.4M | $340.0M |
| Q1 26 | $56.9M | — | ||
| Q4 25 | — | $715.0M | ||
| Q3 25 | — | $507.0M | ||
| Q2 25 | — | $422.0M | ||
| Q1 25 | — | $363.0M | ||
| Q4 24 | — | $611.0M | ||
| Q3 24 | — | $421.0M | ||
| Q2 24 | — | $333.0M |
| Q1 26 | 3.1% | — | ||
| Q4 25 | — | 19.5% | ||
| Q3 25 | — | 17.8% | ||
| Q2 25 | — | 15.7% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 16.3% |
| Q1 26 | 4.6% | — | ||
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | 1484.79× | — | ||
| Q4 25 | — | 0.98× | ||
| Q3 25 | 27.67× | 1.94× | ||
| Q2 25 | 6.32× | 0.47× | ||
| Q1 25 | 3.57× | — | ||
| Q4 24 | 3.95× | 0.48× | ||
| Q3 24 | 7.03× | 0.51× | ||
| Q2 24 | 13.47× | 1.99× |
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% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
