FedEx Corporation

FDX · NYSE · USD

Financials

Annual
StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line itemFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015FY2014FY2013FY2012FY2011FY2010FY2009FY2008FY2007FY2006FY2005FY2004FY2003FY2002FY2001FY2000FY1999FY1998FY1997FY1996FY1995FY1994FY1993FY1992FY1991FY1990FY1989FY1988FY1987FY1986
Valuation
Market cap$98,246$52,654$62,495$54,790$58,206$83,415$34,594$40,879$66,009$51,362$43,712$45,898–––––––––––$15,327$12,959$7,508$6,720$10,946$6,083$4,954$2,815$2,177$2,783$1,749$1,451$1,280$1,581$1,592$1,405$2,248$2,027
Enterprise value$127,878$84,498$93,713$86,266$88,503$112,790$65,834$56,141$79,329$62,324$54,045$49,403–––––––––––$16,806$14,434$9,508$8,434$11,995$7,496$6,748$4,055$3,399$4,220$3,609$3,326$3,192$3,701$3,643$2,257$3,032$2,477
P/E (TTM) at period end22.20×12.88×14.45×13.81×15.24×15.98×26.94×75.84×14.46×17.16×24.04×43.80×–––––––––––18.47×18.25×12.85×9.76×17.34×12.09×13.72×9.14×7.31×13.61×32.44×–217.00×13.65×9.56×7.48×–15.38×
P/S (TTM) at period end1.04×0.60×0.71×0.61×0.62×0.99×0.50×0.59×1.01×0.85×0.87×0.97×–––––––––––0.68×0.63×0.38×0.37×0.65×0.38×0.43×0.27×0.23×0.33×0.22×0.19×0.17×0.23×0.31×0.36×0.71×0.78×
P/B at period end3.10×1.88×2.27×2.10×2.33×3.45×1.89×2.30×3.40×3.20×3.17×3.06×–––––––––––2.10×1.98×1.27×1.40×2.35×1.54×1.42×1.09×0.97×1.45×1.05×0.92×0.77×0.96×1.07×1.06×2.08×1.86×
EV / EBITDA (TTM)13.01×8.91×9.52×9.49×8.66×11.69×10.91×7.18×10.77×8.24×9.47×11.03×–––––––––––5.96×5.38×4.05×3.55×5.46×3.80×––––3.82×2.99×2.87×4.11×––––
EV / Sales (TTM)1.35×0.96×1.07×0.96×0.95×1.34×0.95×0.81×1.21×1.03×1.07×1.04×–––––––––––0.75×0.70×0.48×0.46×0.72×0.47×0.59×0.39×0.36×0.50×0.46×0.44×0.42×0.53×0.71×0.58×0.95×0.95×
Returns
Return on equity14.0%14.6%15.7%15.2%15.3%21.6%7.0%3.0%23.5%18.6%13.2%7.0%15.2%15.6%13.8%9.5%8.6%0.7%7.7%15.9%15.7%15.1%10.4%11.4%10.8%9.9%14.4%13.5%12.7%10.3%11.9%13.3%10.6%3.2%(7.2%)0.4%7.0%11.1%14.1%(6.1%)12.1%
Return on invested capital6.8%6.5%7.0%6.3%8.8%8.6%3.8%11.2%13.0%11.1%8.5%6.5%14.2%17.9%15.2%10.5%9.1%0.8%7.6%15.0%15.6%13.6%8.6%10.4%10.3%8.5%11.4%12.1%10.4%(25.7%)(30.2%)(27.0%)2.2%23.3%37.9%6.6%19.4%6.9%10.8%10.7%10.1%
Dividend yield1.4%2.5%2.0%2.1%1.4%0.8%2.0%1.7%0.8%0.8%0.6%0.5%–––––––––––0.4%––––0.1%0.7%1.9%––––––––––
Financial health
Current ratio1.48×1.19×1.36×1.37×1.43×1.51×1.58×1.45×1.39×1.59×1.50×1.74×1.82×1.96×1.69×1.70×1.57×1.57×1.35×1.22×1.18×1.11×1.03×1.18×1.28×1.06×1.14×1.13×1.03×1.07×1.15×1.13×1.21×0.99×0.87×0.86×1.06×1.01×1.10×1.01×1.42×
Debt / equity0.76×0.73×0.73×0.79×0.81×0.86×1.20×0.99×0.85×0.93×1.00×0.48×0.31×0.17×0.11×0.11×0.14×0.19×0.14×0.21×0.21×0.29×0.45×0.28×0.28×0.36×0.37×0.29×0.41×0.56×0.52×0.70×0.95×1.21×1.24×1.22×1.35×1.48×0.68×0.75×0.58×
Effective tax rate23.5%24.8%25.8%25.9%21.9%21.6%22.9%17.6%(5.0%)34.5%33.6%35.5%36.5%37.4%35.3%35.9%37.5%85.5%44.2%37.3%37.7%37.4%36.5%38.0%37.5%37.0%39.5%40.5%44.6%42.5%43.0%43.0%46.0%46.1%22.5%85.6%47.0%44.2%37.9%46.5%19.7%
Share count
Diluted shares outstanding239243251256266268262265272270279287310317317317314312312311310307304303303293297301298294229226224216215197211208211211200
StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line itemTTMFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016FY2015FY2014FY2013FY2012FY2011FY2010FY2009FY2008FY2007FY2006FY2005FY2004FY2003FY2002FY2001FY2000FY1999FY1998FY1997FY1996FY1995FY1994FY1993FY1992FY1991FY1990FY1989FY1988FY1987FY1986
Revenue and gross profit
Revenue$94,720$94,720$87,926$87,693$90,155$93,512$83,959$69,217$69,693$65,450$60,319$50,365$47,453$45,567$44,287$42,680$39,304$34,734$35,497$37,953$35,214$32,294$29,363$24,710$22,487$20,607$19,629$18,257$16,773$15,873$11,520$10,274$9,392$8,480$7,808$7,550$7,688$7,015$5,167$3,883$3,178$2,606
Cost of revenue($74,098)($74,098)($68,931)($68,741)($70,989)($73,345)($66,005)($55,873)($16,654)($15,101)($13,630)($38,539)($36,705)($36,194)($35,404)($33,970)($31,515)($27,893)($28,414)($29,700)($27,183)($24,795)($22,671)($3,836)($3,606)($3,560)($3,300)($3,077)($1,397)($1,286)($6,019)($5,269)($4,542)($3,245)($3,056)($3,059)($3,315)($3,077)($1,767)($2,164)($966)($679)
Gross profit$20,622$20,622$18,995$18,952$19,166$20,167$17,789$13,344$53,039$50,349$46,689$11,826$10,748$9,373$8,883$8,710$7,789$6,841$7,083$8,253$8,031$7,499$6,692$20,874$18,881$17,047$16,329$15,180$15,377$14,587$5,501$5,004$4,850$5,235$4,752$4,491$4,374$3,938$3,400$1,719$2,212$1,927
Operating expenses
Research and development––––––––––––––––––––––––––––––––––––––––––
Selling, general and administrative($33,844)($33,844)($31,232)($30,961)($31,019)($32,058)($30,173)($25,031)($24,776)($23,795)($22,017)($18,581)($17,110)($16,171)($16,055)($16,099)($15,276)($14,027)($5,132)($5,296)($4,755)($4,485)($4,221)($12,646)($11,581)($10,879)($9,913)($9,137)($8,484)($7,933)($6,166)($5,579)($5,244)($4,105)($3,808)($3,637)($3,438)($3,045)($2,588)($1,050)($1,608)($1,502)
Total operating expenses($15,159)($15,159)($13,778)($13,393)($14,254)($13,922)($11,932)($10,927)($48,573)($46,077)($42,123)($8,749)($8,881)($5,558)($4,449)($5,524)($5,411)($4,843)($6,336)($6,178)($4,755)($4,485)($4,221)($19,434)($17,410)($15,726)($15,258)($13,958)($14,214)($13,576)($7,871)($7,026)($6,495)($5,100)($3,227)($2,800)($2,726)($2,559)($2,965)($1,340)($1,841)($1,732)
Total costs and expenses($89,257)($89,257)($82,709)($82,134)($85,243)($87,267)($78,102)($66,800)($65,227)($61,178)($55,753)($47,288)($45,586)($41,752)($39,853)($39,494)($36,926)($32,736)($34,750)($35,878)($31,938)($29,280)($26,892)($23,270)($21,016)($19,286)($18,558)($17,036)($15,610)($14,862)($13,890)($12,296)($11,038)($8,345)($6,283)($5,859)($6,041)($5,636)($4,732)($3,504)($2,807)($2,412)
Operating income$5,463$5,463$5,217$5,559$4,912$6,245$5,857$2,417$4,466$4,272$4,566$3,077$1,867$3,815$4,434$3,186$2,378$1,998$747$2,075$3,276$3,014$2,471$1,440$1,471$1,321$1,071$1,221$1,163$1,011($2,370)($2,022)($1,645)$135$1,525$1,691$1,648$1,379$435$379$371$194
Earnings
EBITDA$9,832$9,832$9,481$9,846$9,088$10,215$9,650$6,032$7,819$7,367$7,561$5,708$4,478$6,402$6,820$5,299$4,351$3,956$2,722$4,021$5,018$4,562$3,933$2,815$2,822$2,685$2,347$2,376$2,198$1,974($3,147)($2,742)($2,298)($464)$945$1,114$1,113$900––––
Interest income$437$437$363$370$198$53$52$55$59$48$33$21$14$18$21$13$9$8$26$44$83$38$21–––––––––––––––––––
Interest expense($970)($970)($789)($745)($694)($689)($793)($672)($588)($558)($512)($336)($235)($160)($82)($52)($86)($79)($85)($98)($136)($142)($160)–––––––––––––––––––
Pre-tax income$5,793$5,793$5,441$5,836$5,363$4,896$6,674$1,669$655$4,353$4,579$2,740$1,627$3,658$4,338$3,141$2,265$1,894$677$2,016$3,215$2,899$2,313$1,319$1,338$1,160$928$1,138$1,061$900$628$540$522$378$204($147)$41$218$298$302$312$164
Income tax expense($1,360)($1,360)($1,349)($1,505)($1,391)($1,070)($1,443)($383)($115)$219($1,582)($920)($577)($1,334)($1,622)($1,109)($813)($710)($579)($891)($1,199)($1,093)($864)($481)($508)($435)($343)($449)($430)($401)($267)($232)($224)($174)($94)$33($35)($103)($132)($115)($145)($32)
Net income$4,433$4,433$4,092$4,331$3,972$3,826$5,231$1,286$540$4,572$2,997$1,820$1,050$2,324$2,716$2,032$1,452$1,184$98$1,125$2,016$1,806$1,449$838$830$710$584$688$631$503$361$308$298$204$54($114)$6$116$166$188($66)$132
Per share
Diluted EPS (GAAP)$18.55$18.55$16.81$17.21$15.48$14.33$19.45$4.90$2.03$16.79$11.07$6.51$3.65$7.48$8.55$6.41$4.57$3.76$0.31$3.60$6.48$5.83$4.72$2.76$2.74$2.34$1.99$2.32$2.10$1.69$0.67$1.35$1.32$0.92$0.25($0.53)$0.03$0.55$0.80$0.89($0.31)$0.66
Basic EPS (GAAP)$18.71$18.71$16.96$17.41$15.60$14.54$19.79$4.92$2.06$17.08$11.24$6.59$3.70$7.56$8.61$6.44$4.61$3.78$0.31$3.64$6.57$5.94$4.81$2.80$2.79$2.38$2.02$2.36$2.13$1.72$0.68$1.35$1.32$0.92$0.25($0.53)$0.03$0.55$0.80$0.89($0.31)$0.66
Basic shares outstanding237237241248254263264261262267266276283307315315315312311309307304301299297298289292296292291226224224216215197211208211211200
Margins
Gross margin21.8%21.8%21.6%21.6%21.3%21.6%21.2%19.3%76.1%76.9%77.4%23.5%22.6%20.6%20.1%20.4%19.8%19.7%20.0%21.7%22.8%23.2%22.8%84.5%84.0%82.7%83.2%83.1%91.7%91.9%47.8%48.7%51.6%61.7%60.9%59.5%56.9%56.1%65.8%44.3%69.6%73.9%
Operating margin5.8%5.8%5.9%6.3%5.4%6.7%7.0%3.5%6.4%6.5%7.6%6.1%3.9%8.4%10.0%7.5%6.1%5.8%2.1%5.5%9.3%9.3%8.4%5.8%6.5%6.4%5.5%6.7%6.9%6.4%(20.6%)(19.7%)(17.5%)1.6%19.5%22.4%21.4%19.7%8.4%9.8%11.7%7.5%
Net margin4.7%4.7%4.7%4.9%4.4%4.1%6.2%1.9%0.8%7.0%5.0%3.6%2.2%5.1%6.1%4.8%3.7%3.4%0.3%3.0%5.7%5.6%4.9%3.4%3.7%3.4%3.0%3.8%3.8%3.2%3.1%3.0%3.2%2.4%0.7%(1.5%)0.1%1.7%3.2%4.8%(2.1%)5.1%