FDX Financials FedEx

15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 55 d ago Overview →

Growth & profitability

Revenue has grown 2.4% per year over the past 5 years.
Net income has grown slower than revenue (-3.3% vs 2.4% per year).
Operating margin has contracted, at 5.8% in the latest year.
Free cash flow has grown 3.8% per year over the past 5 years.

Financial health

Total debt ($24.2B) exceeds cash ($13.3B); net debt is $10.9B.
Total debt has grown in line with revenue (4.5% vs 2.4% per year).
Operating income covered interest expense 5.6× in the latest year.
Total debt is 2.5× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 31.0% of earnings and 26.9% of free cash flow.
The dividend has grown 14.9% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2026	$94.7B	$4.4B	0.0%	5.8%	14.0%	4.5%	$5.1B	$24.2B	$13.3B
2025	$87.9B	$4.1B	0.0%	5.9%	14.6%	4.7%	$3.0B	$19.9B	$5.5B
2024	$87.7B	$4.3B	0.0%	6.3%	15.7%	5.0%	$3.1B	$19.8B	$6.5B
2023	$90.2B	$4.0B	0.0%	5.4%	15.2%	4.6%	$2.7B	$19.8B	$6.9B
2022	$93.5B	$3.8B	0.0%	6.7%	15.3%	4.4%	$3.1B	$19.8B	$6.9B
2021	$84.0B	$5.2B	0.0%	7.0%	21.6%	6.3%	$4.3B	$19.4B	$7.1B
2020	$69.2B	$1.3B	0.0%	3.5%	7.0%	1.7%	-$771M	$21.5B	$4.9B
2019	$69.7B	$540M	76.1%	6.4%	3.0%	1.0%	$123M	$17.5B	$2.3B
2018	$65.5B	$4.6B	76.9%	6.5%	23.5%	8.7%	-$989M	$16.5B	$3.3B
2017	$60.3B	$3.0B	77.4%	7.6%	18.6%	6.2%	-$186M	$14.9B	$4.0B
2016	—	$1.8B	—	—	13.2%	4.0%	$890M	$13.7B	$3.5B
2015	—	$1.1B	—	—	7.0%	2.9%	$1.0B	$7.2B	$3.8B
2014	—	$2.3B	—	—	15.2%	7.0%	$731M	$4.7B	$2.9B
2013	—	$2.7B	—	—	15.6%	8.1%	$1.3B	$3.0B	$4.9B
2012	—	$2.0B	—	—	13.8%	6.8%	$828M	—	$2.8B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
May '26	$25.0B	$1.6B	0.0%	6.2%	5.0%	1.6%	$1.8B	$24.2B	$13.3B
Feb '26	$24.0B	$1.1B	0.0%	5.6%	3.5%	1.1%	$1.0B	—	$8.0B
Nov '25	$23.5B	$956M	0.0%	5.9%	3.4%	1.1%	$1.2B	—	$6.6B
Aug '25	$22.2B	$824M	0.0%	5.3%	3.0%	0.9%	$1.1B	—	$6.2B
May '25	$22.2B	$1.6B	0.0%	8.1%	5.9%	1.9%	$1.0B	$19.9B	$5.5B
Feb '25	$22.2B	$909M	0.0%	5.8%	3.4%	1.1%	$1.0B	—	$5.1B
Nov '24	$22.0B	$741M	0.0%	4.8%	2.8%	0.9%	$500M	—	$5.0B
Aug '24	$21.6B	$794M	0.0%	5.0%	2.9%	0.9%	$420M	—	$5.9B
May '24	$22.1B	$1.5B	0.0%	7.0%	5.3%	1.7%	$1.5B	$19.8B	$6.5B
Feb '24	$21.7B	$879M	0.0%	5.7%	3.3%	1.0%	$231M	—	$5.6B
Nov '23	$22.2B	$900M	0.0%	5.8%	3.4%	1.0%	$469M	—	$6.7B
Aug '23	$21.7B	$1.1B	0.0%	6.8%	4.1%	1.2%	$940M	—	$7.1B
May '23	$21.9B	$1.5B	0.0%	6.9%	5.9%	1.8%	$1.7B	$19.8B	$6.9B
Feb '23	$22.2B	$771M	0.0%	4.7%	3.1%	0.9%	$998M	—	$5.4B
Nov '22	$22.8B	$788M	0.0%	5.2%	3.3%	0.9%	-$340M	—	$4.6B
Aug '22	$23.2B	$875M	0.0%	5.1%	3.5%	1.0%	$323M	—	$6.8B
May '22	$24.4B	$558M	0.0%	7.9%	2.2%	0.6%	$1.1B	$19.8B	$6.9B
Feb '22	$23.6B	$1.1B	0.0%	5.6%	4.5%	1.3%	$1.0B	—	$6.1B
Nov '21	$23.5B	$1.0B	0.0%	6.8%	4.2%	1.2%	$425M	—	$6.8B
Aug '21	$22.0B	$1.1B	0.0%	6.4%	4.6%	1.4%	$514M	—	$6.9B

Valuation over time

How the market has priced FDX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 14.1× (Mar '23) to 17.3× (Sep '26).
The price-to-sales ratio has risen from 0.6× (Mar '23) to 0.8× (Sep '26).
The dividend yield has risen from 1.5% (Mar '23) to 1.8% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is FDX growing its revenue and profit?

Over the past 5 years, FedEx's revenue has grown 2.4% per year, and net income declined 3.3% per year. These are computed facts, not advice.

How much debt does FDX have?

As of FY2026, FedEx reported $24.2B of total debt against $13.3B of cash; operating income covered interest expense 5.6×.

What is FDX's profit margin?

In FY2026, gross margin was —, operating margin 5.8%, and net margin 4.7%.

What is FDX's P/E ratio?

As of Sep '26, FedEx traded at a price-to-earnings ratio of about 17.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.