CNI vs. FDX: Canadian National Railway vs. FedEx Stock Comparison

July 23, 2026

How do Canadian National Railway (CNI) and FedEx (FDX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Canadian National Railway (CNI) and FedEx (FDX) both fall under the Transportation industry group, but CNI is classified in Ground Transportation while FDX is classified in Air Freight & Logistics.

Company profile comparison for Canadian National Railway (CNI) and FedEx (FDX)
Profile Item	CNI	FDX
Name	Canadian National Railway Company	FedEx Corporation
Country/Region	Canada	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Transportation	Transportation
GICS Industry	Ground Transportation	Air Freight & Logistics
GICS Sub-Industry	Rail Transportation	Air Freight & Logistics
Market Capitalization	77.10 billion USD	74.57 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 26, 1996	April 12, 1978
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CNI

FDX

GSPC

Canadian National Railway (CNI) vs. FedEx (FDX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Canadian National Railway (CNI) and FedEx (FDX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Canadian National Railway (CNI) and FedEx (FDX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
Total Return (1Y)	30.04%	76.66%
Total Return (3Y, Annualized)	4.47%	16.99%
Total Return (5Y, Annualized)	6.11%	7.67%

Risk Profile

Drawdown History

CNI

FDX

GSPC

Canadian National Railway (CNI) vs. FedEx (FDX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Canadian National Railway (CNI) and FedEx (FDX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
Volatility (1Y, Annualized)	21.98%	29.44%
Beta (5Y)	0.96	1.31
Max Drawdown (5Y)	-29.13%	-51.15%
Avg. Volume (3M)	1.51M	2.06M

Risk-Adjusted Performance

Risk-Return Positioning

CNI and FDX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
Sharpe Ratio (1Y)	1.18	2.47
Sortino Ratio (1Y)	1.69	3.79

Profitability

ROE (TTM)

Canadian National Railway (CNI) at 21.85% sits in the top ROE quartile, while FedEx (FDX) at 14.85% is closer to the peer norm — stronger capital efficiency for CNI.

CNI

Transportation industry group

21.85%

Max: 43.37%
CNI: 21.85%
Q3: 19.94%
Median: 10.23%
Q1: 1.86%
Min: -18.53%

FDX

Transportation industry group

14.85%

Max: 43.37%
Q3: 19.94%
FDX: 14.85%
Median: 10.23%
Q1: 1.86%
Min: -18.53%

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their ROE against the Transportation industry group benchmark.

Net Margin (TTM)

Canadian National Railway (CNI) at 27.23% retains a top-quartile share of revenue as profit, ahead of FedEx (FDX) at 4.68%, which keeps about the industry-typical share.

CNI

Transportation industry group

27.23%

Max: 43.82%
CNI: 27.23%
Q3: 18.75%
Median: 5.20%
Q1: 0.62%
Min: -9.62%

FDX

Transportation industry group

4.68%

Max: 43.82%
Q3: 18.75%
Median: 5.20%
FDX: 4.68%
Q1: 0.62%
Min: -9.62%

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their net margin against the Transportation industry group benchmark.

Operating Margin (TTM)

Canadian National Railway (CNI) at 38.41% operates in the top operating margin quartile, ahead of FedEx (FDX) at 11.13%, which runs around its industry’s norm.

CNI

Transportation industry group

38.41%

Max: 54.53%
CNI: 38.41%
Q3: 24.38%
Median: 7.26%
Q1: 1.31%
Min: -33.27%

FDX

Transportation industry group

11.13%

Max: 54.53%
Q3: 24.38%
FDX: 11.13%
Median: 7.26%
Q1: 1.31%
Min: -33.27%

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their operating margin against the Transportation industry group benchmark.

Profitability Metrics

Profitability metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
ROE (TTM)	21.85%	14.85%
ROA (TTM)	7.56%	5.03%
Net Margin (TTM)	27.23%	4.68%
Operating Margin (TTM)	38.41%	11.13%
Gross Margin (TTM)	56.66%	27.32%

Growth

Revenue Growth

Both Canadian National Railway (CNI) at 1.51% and FedEx (FDX) at 0.27% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Canadian National Railway (CNI) at 7.99% and FedEx (FDX) at -2.32% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
Revenue Growth (YoY)	1.51%	0.27%
Revenue Growth (3Y CAGR)	0.38%	-2.03%
EPS Growth (YoY)	7.99%	-2.32%
EPS Growth (3Y CAGR)	0.58%	5.46%

Financial Strength

Current Ratio (MRQ)

FedEx (FDX) at 1.48 keeps current ratio within its industry’s typical mid-range, while Canadian National Railway (CNI) at 0.67 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CNI.

CNI

Transportation industry group

0.67

Max: 2.26
Q3: 1.59
Median: 1.12
Q1: 0.78
CNI: 0.67
Min: 0.30

FDX

Transportation industry group

1.48

Max: 2.26
Q3: 1.59
FDX: 1.48
Median: 1.12
Q1: 0.78
Min: 0.30

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their current ratio against the Transportation industry group benchmark.

Debt / Equity (MRQ)

Both Canadian National Railway (CNI) at 1.06 and FedEx (FDX) at 1.36 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNI

Transportation industry group

1.06

Max: 3.37
Q3: 1.62
CNI: 1.06
Median: 0.84
Q1: 0.36
Min: 0.00

FDX

Transportation industry group

1.36

Max: 3.37
Q3: 1.62
FDX: 1.36
Median: 0.84
Q1: 0.36
Min: 0.00

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their debt-to-equity ratio against the Transportation industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
Current Ratio (MRQ)	0.67	1.48
Debt / Equity (MRQ)	1.06	1.36
Net Debt / EBITDA	2.45	2.49

Dividends

Dividend Yield (TTM)

FedEx (FDX) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Canadian National Railway (CNI) reports a yield of 2.82%, ranking against industry peers normally.

CNI

Transportation industry group

2.82%

Max: 4.23%
CNI: 2.82%
Q3: 1.79%
Median: 0.55%
Q1: 0.00%
Min: 0.00%

FDX

Transportation industry group

0.00%

Max: 4.23%
Q3: 1.79%
Median: 0.55%
FDX: 0.00%
Q1: 0.00%
Min: 0.00%

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their dividend yield against the Transportation industry group benchmark.

Dividend Payout Ratio (TTM)

FedEx (FDX) at 31.27% pays out a band-typical share of earnings, while Canadian National Railway (CNI) at 47.13% distributes more than its industry norm — less retained, thinner cover.

CNI

Transportation industry group

47.13%

Max: 106.15%
CNI: 47.13%
Q3: 44.94%
Median: 20.02%
Q1: 0.00%
Min: 0.00%

FDX

Transportation industry group

31.27%

Max: 106.15%
Q3: 44.94%
FDX: 31.27%
Median: 20.02%
Q1: 0.00%
Min: 0.00%

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their payout ratio against the Transportation industry group benchmark.

Dividend Metrics

Dividend metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
Dividend Yield (TTM)	2.82%	0.00%
Dividend Payout Ratio (TTM)	47.13%	31.27%

Valuation

P/E Ratio (TTM)

Both Canadian National Railway (CNI) at 23.71 and FedEx (FDX) at 16.50 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CNI

Transportation industry group

23.71

Max: 94.71
Q3: 46.51
CNI: 23.71
Median: 23.58
Q1: 14.12
Min: 1.16

FDX

Transportation industry group

16.50

Max: 94.71
Q3: 46.51
Median: 23.58
FDX: 16.50
Q1: 14.12
Min: 1.16

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their P/E ratio against the Transportation industry group benchmark.

P/S Ratio (TTM)

FedEx (FDX) at 0.79 is priced about in line with its industry on P/S ratio, while Canadian National Railway (CNI) at 4.46 sits in the pricier quartile — CNI costs more per dollar of sales.

CNI

Transportation industry group

4.46

CNI: 4.46
Max: 4.46
Q3: 2.30
Median: 1.35
Q1: 0.62
Min: 0.07

FDX

Transportation industry group

0.79

Max: 4.46
Q3: 2.30
Median: 1.35
FDX: 0.79
Q1: 0.62
Min: 0.07

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their P/S ratio against the Transportation industry group benchmark.

P/B Ratio (MRQ)

FedEx (FDX) at 2.40 is valued about in line with its industry on P/B ratio, while Canadian National Railway (CNI) at 5.06 carries an above-peer premium to book — CNI is pricier on assets.

CNI

Transportation industry group

5.06

Max: 9.10
CNI: 5.06
Q3: 4.59
Median: 2.21
Q1: 1.23
Min: -2.48

FDX

Transportation industry group

2.40

Max: 9.10
Q3: 4.59
FDX: 2.40
Median: 2.21
Q1: 1.23
Min: -2.48

Canadian National Railway (CNI) vs. FedEx (FDX): A comparison of their P/B ratio against the Transportation industry group benchmark.

Valuation Metrics

Valuation metrics for Canadian National Railway (CNI) and FedEx (FDX)
Metric	CNI	FDX
P/E Ratio (TTM)	23.71	16.50
P/S Ratio (TTM)	4.46	0.79
P/B Ratio (MRQ)	5.06	2.40
Free Cash Flow Yield (TTM)	3.37%	7.42%