FedEx Corporation (FDX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2026, filed Jul 20, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FDX SEC filings page.
FedEx Corporation (FDX) reported $94.7B in revenue for fiscal year 2026, up 7.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FedEx’s rebound is cash-generative, but its capital-intensive model still converts scale into only modest operating margins.
Operating margin was5.8% in FY2026 versus6.7% in FY2022, even as revenue reached a new high; this indicates the latest growth restored volume faster than operating efficiency.
Operating cash flow rose to
The current ratio improved to 1.5 in FY2026, giving short-term obligations more coverage. Yet liabilities expanded to
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of FedEx Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FedEx Corporation has an operating margin of 5.8%, meaning the company retains $6 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is down from 5.9% the prior year.
FedEx Corporation's revenue grew 7.7% year-over-year to $94.7B, a solid pace of expansion. This earns a growth score of 45/100.
FedEx Corporation has a moderate D/E ratio of 0.74. This balance of debt and equity financing earns a leverage score of 47/100.
FedEx Corporation's current ratio of 1.48 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
FedEx Corporation has a free cash flow margin of 5.4%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.
FedEx Corporation earns a strong 0.0% return on equity (ROE), meaning it generates less than $1 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 67/100. This is unchanged from the prior year.
FedEx Corporation scores 2.49, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
FedEx Corporation passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
FedEx Corporation reported $4K of net income while generating $8.9B in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
FedEx Corporation earns $5.63 in operating income for every $1 of interest expense ($5.5B vs $970.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
FedEx Corporation generated $25.0B in revenue in Q4 2026. This represents an increase of 12.5% from the same quarter a year earlier. Against the prior quarter it is up 4.2%.
FedEx Corporation's EBITDA was $2.6B in Q4 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.1% from the same quarter a year earlier. Against the prior quarter it is up 7.6%.
FedEx Corporation reported -$2.8B in net income in Q4 2026. This represents a decrease of 16.0% from the same quarter a year earlier. Against the prior quarter it is down 368.6%.
FedEx Corporation earned $6.64 per diluted share (EPS) in Q4 2026. This represents a decrease of 2.6% from the same quarter a year earlier. Against the prior quarter it is up 50.6%.
Cash & Balance Sheet
FedEx Corporation generated $1.8B in free cash flow in Q4 2026, representing cash available after capex. This represents an increase of 71.2% from the same quarter a year earlier. Against the prior quarter it is up 72.5%.
FedEx Corporation held $13.3B in cash against $23.3B in long-term debt as of Q4 2026.
FedEx Corporation paid $0.00 per share in dividends in Q4 2026. Against the prior quarter it is down 100.0%.
Margins & Returns
FedEx Corporation's operating margin was 6.2% in Q4 2026, reflecting core business profitability. This is down 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
FedEx Corporation's net profit margin was -11.3% in Q4 2026, showing the share of revenue converted to profit. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 15.7 percentage points.
FedEx Corporation's ROE was -9.0% in Q4 2026, measuring profit generated per dollar of shareholder equity. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 12.5 percentage points.
Not reported for Q4 2026.
Capital Allocation
FedEx Corporation repurchased no shares in Q4 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
FedEx Corporation invested $1.5B in capex in Q4 2026, funding long-term assets and infrastructure. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 54.3%.
Not reported for Q4 2026.
FDX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25.0B+12.5% | $24.0B+8.3% | $23.5B+6.8% | $22.2B+3.1% | $22.2B+0.5% | $22.2B+1.9% | $22.0B-0.9% | $21.6B-0.5% |
| SG&A Expenses | $8.6B+11.4% | $8.8B+11.9% | $8.4B+6.5% | $8.1B+3.6% | $7.7B+0.5% | $7.9B+2.4% | $7.9B+0.6% | $7.8B0.0% |
| Operating Income | $1.6B-13.5% | $1.3B+4.3% | $1.4B+31.0% | $1.2B+9.8% | $1.8B+15.3% | $1.3B+3.9% | $1.1B-17.6% | $1.1B-27.3% |
| EBITDA | $2.6B-7.1% | $2.5B+4.3% | $2.4B+15.7% | $2.3B+5.6% | $2.9B+7.2% | $2.4B+1.9% | $2.1B-8.7% | $2.2B-15.6% |
| Interest Expense | $578.0M+18.7% | $138.0M+19.0% | $135.0M+32.4% | $119.0M+41.7% | $487.0M+4.5% | $116.0M+27.5% | $102.0M+5.2% | $84.0M-7.7% |
| Income Tax | $510.0M-11.3% | $207.0M-23.9% | $333.0M+38.8% | $310.0M+18.3% | $575.0M+3.8% | $272.0M-10.5% | $240.0M-20.5% | $262.0M-24.1% |
| Net Income | -$2.8B-16.0% | $1.1B+16.2% | $956.0M+29.0% | $824.0M+3.8% | -$2.4B+14.5% | $909.0M+3.4% | $741.0M-17.7% | $794.0M-26.3% |
| EPS (Basic) | $6.70-2.5% | $4.46+17.7% | $4.07+33.0% | $3.48+7.4% | $6.87+14.9% | $3.79+6.8% | $3.06-14.8% | $3.24-24.3% |
| EPS (Diluted) | $6.64-2.6% | $4.41+17.3% | $4.04+33.3% | $3.46+7.8% | $6.82+15.6% | $3.76+7.1% | $3.03-14.6% | $3.21-24.1% |
| Diluted Shares (Avg) | N/A | 239M-1.2% | 236M-3.3% | 238M-3.6% | N/A | 242M-3.2% | 244M-3.6% | 247M-2.8% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
FDX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $98.9B+12.9% | $94.7B+11.4% | $89.2B+4.3% | $88.4B+2.0% | $87.6B+0.7% | $85.0B-1.2% | $85.5B-2.9% | $86.7B-1.0% |
| Current Assets | $27.9B+51.8% | $25.5B+48.0% | $20.7B+16.5% | $19.3B+6.9% | $18.4B+1.0% | $17.2B-1.2% | $17.7B-7.3% | $18.1B-4.2% |
| Cash & Equivalents | $13.3B+141.9% | $8.0B+55.9% | $6.6B+30.6% | $6.2B+3.8% | $5.5B-15.4% | $5.1B-9.0% | $5.0B-25.3% | $5.9B-15.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $6.7B+2.0% | $6.8B+6.7% | $6.6B+5.3% | $6.7B+2.5% | $6.6B+2.8% | $6.3B-1.4% | $6.3B-2.8% | $6.5B+1.4% |
| Total Liabilities | $67.3B+13.0% | $64.9B+11.3% | $61.0B+3.4% | $60.6B+1.9% | $59.6B+0.2% | $58.3B-2.4% | $59.0B-3.7% | $59.5B-2.5% |
| Current Liabilities | $18.9B+22.7% | $17.3B+24.4% | $16.2B+12.7% | $15.5B+10.0% | $15.4B+15.4% | $13.9B+4.4% | $14.4B+1.0% | $14.1B+2.2% |
| Non-Current Liabilities | $48.4B+9.6% | $47.6B+7.2% | $44.8B+0.4% | $45.1B-0.7% | $44.1B-4.2% | $44.4B-4.3% | $44.6B-5.1% | $45.4B-3.8% |
| Long-Term Debt | $23.3B+21.6% | $22.8B+16.9% | $20.3B+4.4% | $20.3B+3.2% | $19.2B-4.9% | $19.5B-2.9% | $19.4B-3.8% | $19.7B-2.4% |
| Total Equity | $31.6B+12.7% | $29.8B+11.6% | $28.1B+6.3% | $27.8B+2.2% | $28.1B+1.8% | $26.7B+1.3% | $26.5B-1.1% | $27.2B+2.4% |
| Retained Earnings | $44.5B+7.4% | $42.9B+7.8% | $42.2B+7.6% | $41.5B+7.1% | $41.4B+7.1% | $39.8B+6.9% | $39.2B+7.0% | $38.8B+7.6% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
FDX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.3B+29.6% | $2.0B-0.9% | $2.0B+48.0% | $1.7B+44.6% | $2.5B-6.6% | $2.0B+25.0% | $1.3B-25.7% | $1.2B-46.8% |
| Depreciation & Amortization | $1.1B+3.8% | $1.1B+4.3% | $1.1B+0.5% | $1.1B+1.3% | $1.1B-4.3% | $1.1B-0.6% | $1.1B+2.2% | $1.1B+0.7% |
| Stock-Based Compensation | N/A | $38.0M+22.6% | $43.0M+19.4% | $56.0M+16.7% | N/A | $31.0M-8.8% | $36.0M-10.0% | $48.0M-14.3% |
| Capital Expenditures | $1.5B+0.1% | $955.0M-4.2% | $757.0M-7.5% | $623.0M-18.8% | $1.5B+22.5% | $997.0M-27.7% | $818.0M-37.3% | $767.0M-40.5% |
| Free Cash Flow | $1.8B+71.2% | $1.0B+2.3% | $1.2B+138.8% | $1.1B+160.2% | $1.0B-30.1% | $1.0B+339.4% | $500.0M+6.6% | $420.0M-55.3% |
| Investing Cash Flow | -$1.5B-3.1% | -$955.0M+9.4% | -$861.0M-7.1% | -$619.0M+22.8% | -$1.4B-16.0% | -$1.1B+22.4% | -$804.0M+39.5% | -$802.0M+37.3% |
| Financing Cash Flow | -$127.0M+85.0% | $4.0B+559.8% | -$632.0M+52.8% | -$460.0M+52.5% | -$847.0M-43.1% | -$863.0M+34.4% | -$1.3B-69.4% | -$969.0M-33.3% |
| Dividends Paid | $346.0M+4.5% | $341.0M+2.7% | $342.0M+1.5% | $345.0M+1.8% | $331.0M+6.8% | $332.0M+5.7% | $337.0M+6.3% | $339.0M+6.6% |
| Share Buybacks | $0-100.0% | $0-100.0% | $296.0M-71.0% | $500.0M-50.0% | $500.0M0.0% | $497.0M-50.3% | $1.0B+104.0% | $1.0B+100.0% |
FDX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 6.2%-1.9pp | 5.6%-0.2pp | 5.9%+1.1pp | 5.3%+0.3pp | 8.1%+1.0pp | 5.8%+0.1pp | 4.8%-1.0pp | 5.0%-1.9pp |
| Net Margin | -11.3%-0.3pp | 4.4%+0.3pp | 4.1%+0.7pp | 3.7%0.0pp | -11.0%+1.9pp | 4.1%+0.1pp | 3.4%-0.7pp | 3.7%-1.3pp |
| Return on Equity | -9.0%-0.3pp | 3.5%+0.1pp | 3.4%+0.6pp | 3.0%+0.1pp | -8.7%+1.7pp | 3.4%+0.1pp | 2.8%-0.6pp | 2.9%-1.1pp |
| Return on Assets | -2.9%-0.1pp | 1.1%0.0pp | 1.1%+0.2pp | 0.9%0.0pp | -2.8%+0.5pp | 1.1%0.0pp | 0.9%-0.2pp | 0.9%-0.3pp |
| Current Ratio | 1.48+0.3x | 1.47+0.2x | 1.270.0x | 1.250.0x | 1.19-0.2x | 1.24-0.1x | 1.23-0.1x | 1.28-0.1x |
| Debt-to-Equity | 0.74+0.1x | 0.770.0x | 0.720.0x | 0.730.0x | 0.680.0x | 0.730.0x | 0.730.0x | 0.720.0x |
| Asset Turnover | 0.250.0x | 0.250.0x | 0.260.0x | 0.250.0x | 0.250.0x | 0.260.0x | 0.260.0x | 0.250.0x |
| FCF Margin | 7.2%+2.4pp | 4.3%-0.3pp | 5.1%+2.8pp | 4.9%+3.0pp | 4.7%-2.1pp | 4.6%+3.5pp | 2.3%+0.2pp | 1.9%-2.4pp |
Not reported in any period shown, so not listed: Gross Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| FedEx Corporation FDX | FY2026 | $94.7B | $4K | 0.0% | $68.7B | 51/100 |
| United Parcel Service, Inc. UPS | FY2025 | $88.7B | $5.6B | 6.3% | $79.1B | 49/100 |
| Expeditors International of Washington, Inc. EXPD | FY2025 | $11.1B | $810.3M | 7.3% | $25.0B | 65/100 |
| C.H. Robinson Worldwide, Inc. CHRW | FY2025 | $16.2B | $587.1M | 3.6% | $18.4B | 48/100 |
| JB Hunt Transport Services Inc JBHT | FY2025 | $12.0B | $598.3M | 5.0% | $22.0B | 48/100 |
| ZTO Express (Cayman) Inc. ZTO | FY2025 | $7.0B | $1.3B | 18.5% | $14.6B | 72/100 |
Where FedEx Corporation Ranks
Frequently Asked Questions
What is FedEx Corporation's annual revenue?
FedEx Corporation (FDX) reported $94.7B in total revenue for fiscal year 2026. This represents a 7.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is FedEx Corporation's revenue growing?
FedEx Corporation (FDX) revenue grew by 7.7% year-over-year, from $87.9B to $94.7B in fiscal year 2026.
Is FedEx Corporation profitable?
Yes, FedEx Corporation (FDX) reported a net income of $4K in fiscal year 2026, with a net profit margin of 0.0%.
What is FedEx Corporation's EBITDA?
FedEx Corporation (FDX) had EBITDA of $9.8B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does FedEx Corporation have?
As of fiscal year 2026, FedEx Corporation (FDX) had $13.3B in cash and equivalents against $23.3B in long-term debt.
What is FedEx Corporation's operating margin?
FedEx Corporation (FDX) had an operating margin of 5.8% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is FedEx Corporation's net profit margin?
FedEx Corporation (FDX) had a net profit margin of 0.0% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Does FedEx Corporation pay dividends?
Yes, FedEx Corporation (FDX) paid $5.80 per share in dividends during fiscal year 2026.
What is FedEx Corporation's return on equity (ROE)?
FedEx Corporation (FDX) has a return on equity of 0.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is FedEx Corporation's free cash flow?
FedEx Corporation (FDX) generated $5.1B in free cash flow during fiscal year 2026. This represents a 71.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is FedEx Corporation's operating cash flow?
FedEx Corporation (FDX) generated $8.9B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are FedEx Corporation's total assets?
FedEx Corporation (FDX) had $98.9B in total assets as of fiscal year 2026, including both current and long-term assets.
What are FedEx Corporation's capital expenditures?
FedEx Corporation (FDX) invested $3.8B in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is FedEx Corporation's current ratio?
FedEx Corporation (FDX) had a current ratio of 1.48 as of fiscal year 2026, which is considered adequate.
What is FedEx Corporation's debt-to-equity ratio?
FedEx Corporation (FDX) had a debt-to-equity ratio of 0.74 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is FedEx Corporation's return on assets (ROA)?
FedEx Corporation (FDX) had a return on assets of 0.0% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is FedEx Corporation's P/E ratio?
FedEx Corporation (FDX) has no price-to-earnings ratio at the moment: outside the range published as a multiple (on $4K net income, FY2026). The market capitalization is $68.7B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is FedEx Corporation's price-to-sales ratio?
FedEx Corporation (FDX) trades at 0.7x sales, its market capitalization divided by revenue of $94.7B revenue, FY2026. The market capitalization is $68.7B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is FedEx Corporation's Altman Z-Score?
FedEx Corporation (FDX) has an Altman Z-Score of 2.49, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is FedEx Corporation's Piotroski F-Score?
FedEx Corporation (FDX) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are FedEx Corporation's earnings high quality?
FedEx Corporation (FDX) reported $4K of net income while generating $8.9B in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can FedEx Corporation cover its interest payments?
FedEx Corporation (FDX) has an interest coverage ratio of 5.63x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is FedEx Corporation?
FedEx Corporation (FDX) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.