FDX vs UAL
FedEx Corp. and United Airlines Holdings, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | FDX | UAL |
|---|---|---|
| Revenue | $94.7B | $59.1B |
| Net income | $4.4B | $3.4B |
| Gross margin | · | · |
| Net margin | 4.7% | 5.7% |
| Return on equity | 14.8% | 24.0% |
| Diluted EPS | $18.55 | $10.20 |
| Dividend / share | $5.80 | · |
| Payout ratio | 31.0% | · |
| Free cash flow | $5.1B | $2.6B |
| Equity | $31.6B | $15.3B |
| Net debt / equity | 0.34× | 1.00× |
| Current ratio | 1.48× | 0.65× |
| Revenue CAGR 5y | 2.4% | 30.9% |
| Profit CAGR 5y | −3.3% | · |
FDX bills 1.6× the revenue of UAL, and UAL keeps more of each dollar of revenue as profit (5.7% against 4.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | FDX | UAL |
|---|---|---|
| FY2025 | $94.7B | $59.1B |
| FY2024 | $87.9B | $57.1B |
| FY2023 | $87.7B | $53.7B |
| FY2022 | $90.2B | $45.0B |
| FY2021 | $93.5B | $24.6B |
| FY2020 | $84.0B | $15.4B |
| FY2019 | $69.2B | $43.3B |
| FY2018 | $69.7B | $41.3B |
| FY2017 | $65.5B | $37.8B |
| FY2016 | $60.3B | $36.6B |
Bottom line
| Fiscal year | FDX | UAL |
|---|---|---|
| FY2025 | $4.4B | $3.4B |
| FY2024 | $4.1B | $3.1B |
| FY2023 | $4.3B | $2.6B |
| FY2022 | $4.0B | $737.0M |
| FY2021 | $3.8B | $-2.0B |
| FY2020 | $5.2B | $-7.1B |
| FY2019 | $1.3B | $3.0B |
| FY2018 | $540.0M | $2.1B |
| FY2017 | $4.6B | $2.1B |
| FY2016 | $3.0B | $2.2B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$35,650,000,000 | FDX |
| FY2024 | +$30,863,000,000 | FDX |
| FY2023 | +$33,976,000,000 | FDX |
| FY2022 | +$45,200,000,000 | FDX |
| FY2021 | +$68,878,000,000 | FDX |
| FY2020 | +$68,604,000,000 | FDX |
| FY2019 | +$25,958,000,000 | FDX |
| FY2018 | +$28,390,000,000 | FDX |
| FY2017 | +$27,666,000,000 | FDX |
| FY2016 | +$23,761,000,000 | FDX |
| FY2015 | +$12,501,000,000 | FDX |
| FY2014 | +$8,552,000,000 | FDX |
| FY2013 | +$7,288,000,000 | FDX |
| FY2012 | +$7,135,000,000 | FDX |
| FY2011 | +$5,570,000,000 | FDX |
| FY2010 | +$15,979,000,000 | FDX |
| FY2009 | +$18,399,000,000 | FDX |
| FY2008 | +$15,303,000,000 | FDX |
FDX has reported the higher revenue in every one of these 18 fiscal years. The gap has widened since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −1.0 pp | UAL |
| FY2024 | −0.9 pp | UAL |
| FY2023 | +0.1 pp | FDX |
| FY2022 | +2.8 pp | FDX |
| FY2021 | +12.1 pp | FDX |
| FY2020 | +52.3 pp | FDX |
| FY2019 | −5.1 pp | UAL |
| FY2018 | −4.4 pp | UAL |
| FY2017 | +1.3 pp | FDX |
| FY2016 | −1.1 pp | UAL |
| FY2015 | −15.8 pp | UAL |
| FY2014 | −0.7 pp | UAL |
| FY2013 | +3.6 pp | FDX |
| FY2012 | +8.1 pp | FDX |
| FY2011 | +2.5 pp | FDX |
| FY2010 | +2.6 pp | FDX |
| FY2009 | +7.4 pp | FDX |
| FY2008 | +27.0 pp | FDX |
The higher net margin has changed hands between FDX and UAL over this period.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UAL's net margin has been more volatile than FDX's over the 18 comparable fiscal years — 14.0 percentage points of standard deviation against 1.8.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between FDX and UAL over these 18 fiscal years — FDX led in 11 and UAL in 7.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UAL's return on equity has been more volatile than FDX's over the 15 comparable fiscal years — 47.5 percentage points of standard deviation against 5.9.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between FDX and UAL over these 15 fiscal years — FDX led in 5 and UAL in 10.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.