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Air T vs FedEx Freight: revenue, profit, margins and growth compared

Air T brought in $327.1M of revenue in fiscal 2026, FedEx Freight $8.8B in fiscal 2026. Revenue changed by +12.1% at Air T and -1.1% at FedEx Freight on the year before, so Air T grew faster. Air T kept 23.8% of its revenue as net profit, FedEx Freight 7.4%. Free cash flow was -$41.5M at Air T and -$212M at FedEx Freight.

Side by side, latest fiscal year

AIRTFDXF
Fiscal year endedFY2026 (March 31, 2026)FY2026 (May 31, 2026)
Revenue$327.1M$8.8B
Revenue growth+12.1%-1.1%
Net income$78M$655M
Net margin23.8%7.4%
Free cash flow-$41.5M-$212M
Free cash flow margin-12.7%-2.4%
Earnings per share (diluted)$28.85$4.38
Cash$20.3M$251M
Debt$208.2M$4.3B
Price to earningsn/a25.8
Market valuen/a$16.9B
Dividend yieldn/an/a
Rank by revenue in sector#609 of 778 · Consumer discretionary#127 of 778 · Consumer discretionary

Over the years

Revenue
AIRT FY2019: $215.5MAIRT FY2019: $236.8MAIRT FY2020: $175.1MAIRT FY2022: $177.1MAIRT FY2023: $247.3MAIRT FY2024: $286.8MAIRT FY2025: $291.9MAIRT FY2026: $327.1MFDXF FY2024: $9.4BFDXF FY2026: $8.9BFDXF FY2026: $8.8BFY19FY20FY22FY23FY24FY25FY26
AIRT $327.1MFDXF $8.8B
Net income
AIRT FY2019: $1.3MAIRT FY2019: $7.7MAIRT FY2020: -$7.3MAIRT FY2022: $10.9MAIRT FY2023: -$12.3MAIRT FY2024: -$6.8MAIRT FY2025: -$6.1MAIRT FY2026: $78MFDXF FY2024: $1.6BFDXF FY2026: $1.3BFDXF FY2026: $655MFY19FY20FY22FY23FY24FY25FY26
AIRT $78MFDXF $655M
Net margin
AIRT FY2019: 0.6%AIRT FY2019: 3.2%AIRT FY2020: -4.2%AIRT FY2022: 6.2%AIRT FY2023: -5.0%AIRT FY2024: -2.4%AIRT FY2025: -2.1%AIRT FY2026: 23.8%FDXF FY2024: 16.7%FDXF FY2026: 15.1%FDXF FY2026: 7.4%FY19FY20FY22FY23FY24FY25FY26
AIRT 23.8%FDXF 7.4%
Revenue growth
AIRT FY2019: +9.9%AIRT FY2020: -26.0%AIRT FY2022: +1.1%AIRT FY2023: +39.7%AIRT FY2024: +16.0%AIRT FY2025: +1.7%AIRT FY2026: +12.1%FDXF FY2026: -5.6%FDXF FY2026: -1.1%FY19FY20FY22FY23FY24FY25FY26
AIRT +12.1%FDXF -1.1%
Free cash flow
AIRT FY2019: $19.8MAIRT FY2019: -$27.5MAIRT FY2020: -$5.7MAIRT FY2022: -$34.6MAIRT FY2023: $15.7MAIRT FY2024: $16.1MAIRT FY2025: $22.4MAIRT FY2026: -$41.5MFDXF FY2024: $1.1BFDXF FY2026: $1.1BFDXF FY2026: -$212MFY19FY20FY22FY23FY24FY25FY26
AIRT -$41.5MFDXF -$212M

Fiscal years as each company reports them; the two may end in different months.

Questions about Air T and FedEx Freight

Which is bigger by revenue, Air T or FedEx Freight?

FedEx Freight is bigger by revenue: $8.8B in fiscal 2026, against $327.1M for Air T in fiscal 2026.

Which keeps more of its revenue as profit, Air T or FedEx Freight?

Air T had a net margin of 23.8% in fiscal 2026; FedEx Freight had 7.4% in fiscal 2026.

Which grew revenue faster, Air T or FedEx Freight?

In their latest fiscal years revenue changed by +12.1% at Air T and -1.1% at FedEx Freight.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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