NYSE : FDX
FedEx Corporation — Financial statements
Industrials · Integrated Freight & Logistics · United States
Last price 315.69 USD (Oct 30, 2026, 12:04 PM EDT) · Market cap 73.93B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
FedEx Corporation (FDX) reported revenue of 94.72B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 94.72B | 94.72B | 87.93B | 87.69B | 90.16B | 93.51B |
| Cost of Revenue | 68.84B | 68.84B | 63.95B | 63.73B | 65.76B | 70.10B |
| Gross Profit | 25.88B | 25.88B | 23.97B | 23.96B | 24.40B | 23.41B |
| Selling, General & Admin | 436.00M | 436.00M | 425.00M | 421.00M | 435.00M | 470.00M |
| Other Operating Expenses | 13.60B | 13.60B | 12.54B | 12.23B | 13.39B | 13.17B |
| Operating Expenses | 18.40B | 18.40B | 17.23B | 16.94B | 18.00B | 17.61B |
| Operating Income | 7.47B | 7.47B | 6.75B | 7.02B | 6.39B | 5.80B |
| Interest Expense | -970.00M | -970.00M | -789.00M | -745.00M | -694.00M | -689.00M |
| Interest & Investment Income | 437.00M | 437.00M | 363.00M | 370.00M | 198.00M | 53.00M |
| Other Non Operating Income (Expenses) | -16.00M | -16.00M | -63.00M | -70.00M | -107.00M | 13.00M |
| EBT Excluding Unusual Items | 6.93B | 6.93B | 6.26B | 6.58B | 5.79B | 5.17B |
| Merger & Restructuring Charges | -366.00M | -366.00M | -756.00M | -582.00M | -309.00M | -278.00M |
| Impairment of Goodwill | -36.00M | |||||
| Asset Writedown | -23.00M | -23.00M | -21.00M | -157.00M | -81.00M | |
| Other Unusual Items | -744.00M | -744.00M | -38.00M | |||
| Pretax Income | 5.79B | 5.79B | 5.44B | 5.84B | 5.36B | 4.90B |
| Income Tax Expense | 1.36B | 1.36B | 1.35B | 1.50B | 1.39B | 1.07B |
| Net Income | 4.43B | 4.43B | 4.09B | 4.33B | 3.97B | 3.83B |
| Preferred Dividends & Other Adjustments | 7.00M | 7.00M | 5.00M | 6.00M | 6.00M | 7.00M |
| Net Income to Common | 4.43B | 4.43B | 4.09B | 4.33B | 3.97B | 3.82B |
| Shares Outstanding (Basic) | 237.00M | 237.00M | 241.00M | 248.00M | 254.00M | 263.00M |
| Shares Outstanding (Diluted) | 239.00M | 239.00M | 243.00M | 251.00M | 256.00M | 266.00M |
| EPS (Basic) | 18.68 | 18.68 | 16.96 | 17.44 | 15.61 | 14.52 |
| EPS (Diluted) | 18.55 | 18.55 | 16.81 | 17.21 | 15.48 | 14.33 |
| Free Cash Flow | 5.12B | 5.12B | 2.98B | 3.14B | 2.67B | 3.07B |
| Free Cash Flow Per Share | 21.41 | 21.41 | 12.27 | 12.49 | 10.45 | 11.54 |
| Dividend Per Share | 5.57 | 5.57 | 5.59 | 5.16 | 4.71 | 3.40 |
| Gross Margin | 27.32% | 27.32% | 27.26% | 27.32% | 27.06% | 25.04% |
| Operating Margin | 7.89% | 7.89% | 7.67% | 8.00% | 7.09% | 6.20% |
| Profit Margin | 4.67% | 4.67% | 4.65% | 4.93% | 4.40% | 4.08% |
| Free Cash Flow Margin | 5.40% | 5.40% | 3.39% | 3.58% | 2.97% | 3.28% |
| EBITDA | 11.84B | 11.84B | 11.01B | 11.31B | 10.57B | 9.77B |
| EBITDA Margin | 12.50% | 12.50% | 12.52% | 12.89% | 11.72% | 10.45% |
| D&A For EBITDA | 4.37B | 4.37B | 4.26B | 4.29B | 4.18B | 3.97B |
| EBIT | 7.47B | 7.47B | 6.75B | 7.02B | 6.39B | 5.80B |
| EBIT Margin | 7.89% | 7.89% | 7.67% | 8.00% | 7.09% | 6.20% |
| Effective Tax Rate | 23.48% | 23.48% | 24.79% | 25.79% | 25.94% | 21.86% |
| Advertising Expenses | 436.00M | 436.00M | 425.00M | 421.00M | 435.00M | 470.00M |
Balance sheet
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.31B | 13.31B | 5.50B | 6.50B | 6.86B | 6.90B |
| Short-Term Investments | 236.00M | 236.00M | 70.00M | 77.00M | 302.00M | |
| Trading Asset Securities | 4.00M | 4.00M | ||||
| Cash & Short-Term Investments | 13.55B | 13.55B | 5.57B | 6.58B | 7.16B | 6.90B |
| Receivables | 12.67B | 12.67B | 11.37B | 10.09B | 10.19B | 11.86B |
| Inventory | 669.00M | 669.00M | 602.00M | 614.00M | 604.00M | 637.00M |
| Prepaid Expenses | 990.00M | 990.00M | 831.00M | 920.00M | 660.00M | 968.00M |
| Other Current Assets | 21.00M | 21.00M | 13.00M | 8.00M | ||
| Total Current Assets | 27.90B | 27.90B | 18.39B | 18.21B | 18.61B | 20.36B |
| Property, Plant & Equipment | 58.87B | 58.87B | 58.09B | 58.61B | 58.05B | 54.70B |
| Long-Term Investments | 564.00M | 564.00M | 506.00M | 360.00M | ||
| Goodwill | 6.73B | 6.73B | 6.60B | 6.42B | 6.43B | 6.54B |
| Other Intangible Assets | 153.00M | 153.00M | 205.00M | 181.00M | 234.00M | 301.00M |
| Long-Term Deferred Tax Assets | 1.16B | 1.16B | 1.12B | 1.31B | 1.16B | 1.21B |
| Other Long-Term Assets | 3.56B | 3.56B | 2.72B | 1.92B | 2.66B | 2.87B |
| Total Assets | 98.94B | 98.94B | 87.63B | 87.01B | 87.14B | 85.99B |
| Accounts Payable | 4.33B | 4.33B | 3.69B | 3.19B | 3.85B | 4.03B |
| Accrued Expenses | 9.46B | 9.46B | 7.70B | 7.61B | 7.22B | 7.72B |
| Short-Term Debt | 746.00M | 746.00M | ||||
| Current Portion of Long-Term Debt | 1.51B | 1.51B | 1.37B | 50.00M | 51.00M | 50.00M |
| Current Portion of Leases | 2.85B | 2.85B | 2.62B | 2.48B | 2.46B | 2.48B |
| Current Unearned Revenue | 20.00M | 20.00M | 23.00M | 23.00M | ||
| Other Current Liabilities | 3.00M | 3.00M | 2.00M | |||
| Total Current Liabilities | 18.91B | 18.91B | 15.41B | 13.36B | 13.59B | 14.27B |
| Long-Term Debt | 21.95B | 21.95B | 18.53B | 19.72B | 19.73B | 19.75B |
| Long-Term Leases | 15.89B | 15.89B | 14.89B | 15.47B | 16.09B | 14.92B |
| Pension & Post-Retirement Benefits | 1.62B | 1.62B | 1.70B | 2.01B | 3.13B | 4.45B |
| Long-Term Deferred Tax Liabilities | 3.66B | 3.66B | 4.21B | 4.48B | 4.49B | 4.09B |
| Other Long-Term Liabilities | 5.25B | 5.25B | 4.82B | 4.39B | 4.03B | 3.57B |
| Total Liabilities | 67.29B | 67.29B | 59.55B | 59.42B | 61.05B | 61.05B |
| Common Stock | 32.00M | 32.00M | 32.00M | 32.00M | 32.00M | 32.00M |
| Additional Paid-In Capital | 4.72B | 4.72B | 4.29B | 3.99B | 3.77B | 3.71B |
| Retained Earnings | 44.46B | 44.46B | 41.40B | 38.65B | 35.26B | 32.78B |
| Treasury Stock | -16.34B | -16.34B | -16.29B | -13.73B | -11.64B | -10.48B |
| Comprehensive Income & Other | -1.23B | -1.23B | -1.36B | -1.36B | -1.33B | -1.10B |
| Shareholders' Equity | 31.65B | 31.65B | 28.07B | 27.58B | 26.09B | 24.94B |
| Total Liabilities & Equity | 98.94B | 98.94B | 87.63B | 87.01B | 87.14B | 85.99B |
| Total Debt | 42.94B | 42.94B | 37.42B | 37.72B | 38.33B | 37.19B |
| Net Cash (Debt) | -29.39B | -29.39B | -31.84B | -31.14B | -31.17B | -30.30B |
| Net Cash Per Share | -122.98 | -122.98 | -131.05 | -124.07 | -121.77 | -113.90 |
| Filing Date Shares Outstanding | 236.58M | 236.58M | 235.90M | 244.30M | 251.19M | 259.85M |
| Total Common Shares Outstanding | 240.00M | 240.00M | 238.00M | 244.30M | 251.19M | 259.85M |
| Working Capital | 8.99B | 8.99B | 2.98B | 4.85B | 5.02B | 6.09B |
| Book Value Per Share | 131.86 | 131.86 | 117.96 | 112.90 | 103.86 | 95.98 |
| Tangible Book Value | 24.76B | 24.76B | 21.27B | 20.98B | 19.42B | 18.09B |
| Tangible Book Value Per Share | 103.17 | 103.17 | 89.35 | 85.87 | 77.31 | 69.63 |
| Machinery | 63.07B | 63.07B | 61.41B | 58.97B | 56.14B | 52.61B |
Cash flow statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 4.43B | 4.43B | 4.09B | 4.33B | 3.97B | 3.83B |
| Depreciation & Amortization | 4.37B | 4.37B | 4.26B | 4.29B | 4.18B | 3.97B |
| Asset Writedown & Restructuring Costs | -25.00M | -25.00M | 64.00M | 183.00M | 140.00M | 53.00M |
| Stock-Based Compensation | 177.00M | 177.00M | 154.00M | 163.00M | 182.00M | 190.00M |
| Provision & Write-off of Bad Debts | 946.00M | 946.00M | 521.00M | 421.00M | 696.00M | 403.00M |
| Other Operating Activities | 2.54B | 2.54B | 2.66B | 2.36B | 2.82B | 4.51B |
| Change in Accounts Receivable | -2.25B | -2.25B | -1.78B | -270.00M | 782.00M | -310.00M |
| Change in Accounts Payable | -933.00M | -933.00M | -2.46B | -2.55B | -3.33B | -1.86B |
| Change in Other Net Operating Assets | -333.00M | -333.00M | -475.00M | -608.00M | -591.00M | -948.00M |
| Operating Cash Flow | 8.93B | 8.93B | 7.04B | 8.31B | 8.85B | 9.83B |
| Capital Expenditures | -3.81B | -3.81B | -4.05B | -5.18B | -6.17B | -6.76B |
| Sale of Property, Plant & Equipment | 97.00M | 97.00M | 115.00M | 114.00M | 84.00M | 94.00M |
| Investment in Securities | -199.00M | -199.00M | -152.00M | -138.00M | -84.00M | -147.00M |
| Investing Cash Flow | -3.91B | -3.91B | -4.09B | -5.20B | -6.17B | -6.82B |
| Short-Term Debt Issued | 742.00M | 742.00M | ||||
| Long-Term Debt Issued | 5.29B | 5.29B | ||||
| Total Debt Issued | 6.03B | 6.03B | ||||
| Long-Term Debt Repaid | -2.05B | -2.05B | -157.00M | -147.00M | -152.00M | -161.00M |
| Net Debt Issued (Repaid) | 3.98B | 3.98B | -157.00M | -147.00M | -152.00M | -161.00M |
| Issuance of Common Stock | 992.00M | 992.00M | 524.00M | 491.00M | 231.00M | 184.00M |
| Repurchase of Common Stock | -796.00M | -796.00M | -3.02B | -2.50B | -1.50B | -2.25B |
| Common Dividends Paid | -1.37B | -1.37B | -1.34B | -1.26B | -1.18B | -793.00M |
| Other Financing Activities | -55.00M | -55.00M | -30.00M | -11.00M | 1.00M | -1.00M |
| Financing Cash Flow | 2.75B | 2.75B | -4.02B | -3.43B | -2.60B | -3.02B |
| Foreign Exchange Rate Adjustments | 46.00M | 46.00M | 76.00M | -41.00M | -118.00M | -187.00M |
| Net Cash Flow | 7.81B | 7.81B | -999.00M | -355.00M | -41.00M | -190.00M |
| Free Cash Flow | 5.12B | 5.12B | 2.98B | 3.14B | 2.67B | 3.07B |
| Free Cash Flow Margin | 5.40% | 5.40% | 3.39% | 3.58% | 2.97% | 3.28% |
| Free Cash Flow Per Share | 21.41 | 21.41 | 12.27 | 12.49 | 10.45 | 11.54 |
| Levered Free Cash Flow | 5.66B | 5.66B | 3.49B | 2.77B | 3.08B | 1.06B |
| Unlevered Free Cash Flow | 6.26B | 6.26B | 3.99B | 3.24B | 3.52B | 1.49B |
| Cash Interest Paid | 881.00M | 881.00M | 814.00M | 744.00M | 694.00M | 695.00M |
| Cash Income Tax Paid | 1.91B | 1.91B | 1.25B | 1.43B | 1.04B | 177.00M |
| Change in Working Capital | -3.51B | -3.51B | -4.71B | -3.43B | -3.14B | -3.12B |
Ratios
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 74.94B | 98.25B | 52.26B | 62.49B | 54.79B | 58.21B |
| Enterprise Value | 104.33B | 132.05B | 84.08B | 94.36B | 87.50B | 89.50B |
| Last Close Price | 313.28 | 329.03 | 170.50 | 194.46 | 163.55 | 164.71 |
| PE Ratio | 17.25 | 22.20 | 12.79 | 14.45 | 13.81 | 15.24 |
| Forward PE | 15.96 | 13.09 | 11.12 | 12.61 | 12.37 | 10.01 |
| PS Ratio | 0.77 | 1.04 | 0.59 | 0.71 | 0.61 | 0.62 |
| PB Ratio | 2.38 | 3.10 | 1.86 | 2.27 | 2.10 | 2.33 |
| P/TBV Ratio | 2.96 | 3.97 | 2.46 | 2.98 | 2.82 | 3.22 |
| P/FCF Ratio | 14.34 | 19.20 | 17.53 | 19.93 | 20.49 | 18.97 |
| P/OCF Ratio | 8.22 | 11.01 | 7.43 | 7.52 | 6.19 | 5.92 |
| PEG Ratio | 1.02 | 1.09 | 1.22 | 0.77 | 1.25 | 0.77 |
| EV/Sales Ratio | 1.08 | 1.39 | 0.96 | 1.08 | 0.97 | 0.96 |
| EV/EBITDA Ratio | 8.68 | 11.15 | 7.64 | 8.35 | 8.28 | 9.16 |
| EV/EBIT Ratio | 13.75 | 17.66 | 12.47 | 13.44 | 13.69 | 15.44 |
| EV/FCF Ratio | 20.09 | 25.81 | 28.20 | 30.09 | 32.72 | 29.16 |
| Debt / Equity Ratio | 1.36 | 1.36 | 1.33 | 1.37 | 1.47 | 1.49 |
| Debt / EBITDA Ratio | 2.41 | 2.41 | 2.23 | 2.38 | 2.50 | 2.57 |
| Debt / FCF Ratio | 8.39 | 8.39 | 12.55 | 12.03 | 14.34 | 12.12 |
| Net Debt / Equity Ratio | 0.93 | 0.93 | 1.13 | 1.13 | 1.20 | 1.22 |
| Net Debt / EBITDA Ratio | 2.48 | 2.48 | 2.89 | 2.75 | 2.95 | 3.10 |
| Net Debt / FCF Ratio | 5.75 | 5.75 | 10.68 | 9.93 | 11.66 | 9.87 |
| Asset Turnover | 1.01 | 1.01 | 1.01 | 1.01 | 1.04 | 1.11 |
| Inventory Turnover | 108.33 | 108.33 | 105.19 | 104.65 | 105.98 | 114.54 |
| Quick Ratio | 1.39 | 1.39 | 1.10 | 1.25 | 1.28 | 1.31 |
| Current Ratio | 1.48 | 1.48 | 1.19 | 1.36 | 1.37 | 1.43 |
| Return on Equity (ROE) | 14.85% | 14.85% | 14.70% | 16.14% | 15.57% | 15.58% |
| Return on Assets (ROA) | 5.01% | 5.01% | 4.83% | 5.04% | 4.61% | 4.29% |
| Return on Invested Capital (ROIC) | 9.18% | 9.46% | 8.55% | 8.98% | 8.42% | 8.33% |
| Return on Capital Employed (ROCE) | 9.30% | 9.30% | 9.30% | 9.50% | 8.70% | 8.10% |
| Earnings Yield | 5.80% | 4.51% | 7.83% | 6.93% | 7.25% | 6.57% |
| FCF Yield | 6.97% | 5.21% | 5.71% | 5.02% | 4.88% | 5.27% |
| Dividend Yield | 1.53% | 1.36% | 2.55% | 2.02% | 2.16% | 1.52% |
| Payout Ratio | 28.79% | 31.00% | 32.72% | 29.07% | 29.63% | 20.73% |
| Buyback Yield / Dilution | 1.65% | 1.65% | 3.19% | 1.95% | 3.76% | 0.75% |
| Total Shareholder Return | 3.20% | 3.01% | 5.73% | 3.97% | 5.92% | 2.26% |