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Fedex vs Walmart: revenue, profit, margins and growth compared

Fedex brought in $94.7B of revenue in fiscal 2026, Walmart $713.2B in fiscal 2026. Revenue changed by +7.7% at Fedex and +4.7% at Walmart on the year before, so Fedex grew faster. Fedex kept 4.7% of its revenue as net profit, Walmart 3.1%. Free cash flow was $5.1B at Fedex and $14.9B at Walmart.

Side by side, latest fiscal year

FDXWMT
Fiscal year endedFY2026 (May 31, 2026)FY2026 (January 31, 2026)
Revenue$94.7B$713.2B
Revenue growth+7.7%+4.7%
Net income$4.4B$21.9B
Net margin4.7%3.1%
Free cash flow$5.1B$14.9B
Free cash flow margin5.4%2.1%
Earnings per share (diluted)$18.55$2.73
Cash$13.3B$10.7B
Debt$23.5B$38.2B
Price to earnings15.439.5
Market value$67.6B$859.3B
Dividend yield2.03%0.87%
Rank by revenue in sector#6 of 778 · Consumer discretionary#2 of 778 · Consumer discretionary

Over the years

Revenue
FDX FY2019: $69.7BFDX FY2020: $69.2BFDX FY2021: $84BFDX FY2022: $93.5BFDX FY2023: $90.2BFDX FY2024: $87.7BFDX FY2025: $87.9BFDX FY2026: $94.7BWMT FY2019: $514.4BWMT FY2020: $524BWMT FY2021: $559.2BWMT FY2022: $572.8BWMT FY2023: $611.3BWMT FY2024: $648.1BWMT FY2025: $681BWMT FY2026: $713.2BFY19FY20FY21FY22FY23FY24FY25FY26
FDX $94.7BWMT $713.2B
Net income
FDX FY2019: $540MFDX FY2020: $1.3BFDX FY2021: $5.2BFDX FY2022: $3.8BFDX FY2023: $4BFDX FY2024: $4.3BFDX FY2025: $4.1BFDX FY2026: $4.4BWMT FY2019: $6.7BWMT FY2020: $14.9BWMT FY2021: $13.5BWMT FY2022: $13.7BWMT FY2023: $11.7BWMT FY2024: $15.5BWMT FY2025: $19.4BWMT FY2026: $21.9BFY19FY20FY21FY22FY23FY24FY25FY26
FDX $4.4BWMT $21.9B
Net margin
FDX FY2019: 0.8%FDX FY2020: 1.9%FDX FY2021: 6.2%FDX FY2022: 4.1%FDX FY2023: 4.4%FDX FY2024: 4.9%FDX FY2025: 4.7%FDX FY2026: 4.7%WMT FY2019: 1.3%WMT FY2020: 2.8%WMT FY2021: 2.4%WMT FY2022: 2.4%WMT FY2023: 1.9%WMT FY2024: 2.4%WMT FY2025: 2.9%WMT FY2026: 3.1%FY19FY20FY21FY22FY23FY24FY25FY26
FDX 4.7%WMT 3.1%
Revenue growth
FDX FY2020: -0.7%FDX FY2021: +21.3%FDX FY2022: +11.4%FDX FY2023: -3.6%FDX FY2024: -2.7%FDX FY2025: +0.3%FDX FY2026: +7.7%WMT FY2020: +1.9%WMT FY2021: +6.7%WMT FY2022: +2.4%WMT FY2023: +6.7%WMT FY2024: +6.0%WMT FY2025: +5.1%WMT FY2026: +4.7%FY20FY21FY22FY23FY24FY25FY26
FDX +7.7%WMT +4.7%
Free cash flow
FDX FY2019: $123MFDX FY2020: -$771MFDX FY2021: $4.3BFDX FY2022: $3.1BFDX FY2023: $2.7BFDX FY2024: $3.1BFDX FY2025: $3BFDX FY2026: $5.1BWMT FY2019: $17.4BWMT FY2020: $14.6BWMT FY2021: $25.8BWMT FY2022: $11.1BWMT FY2023: $12BWMT FY2024: $15.1BWMT FY2025: $12.7BWMT FY2026: $14.9BFY19FY20FY21FY22FY23FY24FY25FY26
FDX $5.1BWMT $14.9B

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

Questions about Fedex and Walmart

Which is bigger by revenue, Fedex or Walmart?

Walmart is bigger by revenue: $713.2B in fiscal 2026, against $94.7B for Fedex in fiscal 2026.

Which keeps more of its revenue as profit, Fedex or Walmart?

Fedex had a net margin of 4.7% in fiscal 2026; Walmart had 3.1% in fiscal 2026.

Which grew revenue faster, Fedex or Walmart?

In their latest fiscal years revenue changed by +7.7% at Fedex and +4.7% at Walmart.

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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