FDX Financials FedEx

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 29 h ago Overview →

Growth & profitability

Revenue has grown 4.9% per year over the past 5 years.
Net income has grown faster than revenue (26.0% vs 4.9% per year).
Operating margin has expanded, at 5.9% in the latest year.

Financial health

Total debt ($19.9B) exceeds cash ($5.5B); net debt is $14.4B.
Total debt has grown slower than revenue (-1.6% vs 4.9% per year).
Operating income covered interest expense 6.6× in the latest year.
Total debt is 2.1× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 32.7% of earnings and 44.9% of free cash flow.
The dividend has grown 14.5% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
2025	$87.9B	$4.1B	0.0%	5.9%	$3.0B	$19.9B	$5.5B
2024	$87.7B	$4.3B	0.0%	6.3%	$3.1B	$19.8B	$6.5B
2023	$90.2B	$4.0B	0.0%	5.4%	$2.7B	$19.8B	$6.9B
2022	$93.5B	$3.8B	0.0%	6.7%	$3.1B	$19.8B	$6.9B
2021	$84.0B	$5.2B	0.0%	7.0%	$4.3B	$19.4B	$7.1B
2020	$69.2B	$1.3B	0.0%	3.5%	-$771M	$21.5B	$4.9B
2019	$69.7B	$540M	76.1%	6.4%	$123M	$17.5B	$2.3B
2018	$65.5B	$4.6B	76.9%	6.5%	-$989M	$16.5B	$3.3B
2017	$60.3B	$3.0B	77.4%	7.6%	-$186M	$14.9B	$4.0B
2016	—	$1.8B	—	—	$890M	$13.7B	$3.5B
2015	—	$1.1B	—	—	$1.0B	$7.2B	$3.8B
2014	—	$2.3B	—	—	$731M	$4.7B	$2.9B
2013	—	$2.7B	—	—	$1.3B	$3.0B	$4.9B
2012	—	$2.0B	—	—	$828M	—	$2.8B
2011	—	$1.5B	—	—	$607M	$1.5B	$2.3B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Feb '26	$24.0B	$1.1B	0.0%	5.6%	$1.0B	—	$8.0B
Nov '25	$23.5B	$956M	0.0%	5.9%	$1.2B	—	$6.6B
Aug '25	$22.2B	$824M	0.0%	5.3%	$1.1B	—	$6.2B
May '25	$22.2B	$1.6B	0.0%	8.1%	$1.0B	$19.9B	$5.5B
Feb '25	$22.2B	$909M	0.0%	5.8%	$1.0B	—	$5.1B
Nov '24	$22.0B	$741M	0.0%	4.8%	$500M	—	$5.0B
Aug '24	$21.6B	$794M	0.0%	5.0%	$420M	—	$5.9B
May '24	$22.1B	$1.5B	0.0%	7.0%	$1.5B	$19.8B	$6.5B
Feb '24	$21.7B	$879M	0.0%	5.7%	$231M	—	$5.6B
Nov '23	$22.2B	$900M	0.0%	5.8%	$469M	—	$6.7B
Aug '23	$21.7B	$1.1B	0.0%	6.8%	$940M	—	$7.1B
May '23	$21.9B	$1.5B	0.0%	6.9%	$1.7B	$19.8B	$6.9B
Feb '23	$22.2B	$771M	0.0%	4.7%	$998M	—	$5.4B
Nov '22	$22.8B	$788M	0.0%	5.2%	-$340M	—	$4.6B
Aug '22	$23.2B	$875M	0.0%	5.1%	$323M	—	$6.8B
May '22	$24.4B	$558M	0.0%	7.9%	$1.1B	$19.8B	$6.9B
Feb '22	$23.6B	$1.1B	0.0%	5.6%	$1.0B	—	$6.1B
Nov '21	$23.5B	$1.0B	0.0%	6.8%	$425M	—	$6.8B
Aug '21	$22.0B	$1.1B	0.0%	6.4%	$514M	—	$6.9B
May '21	$22.6B	$1.9B	0.0%	8.0%	$1.1B	$19.4B	$7.1B

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 14.2× (Mar '23) to 19.2× (Jun '26).
The price-to-sales ratio has risen from 0.6× (Mar '23) to 0.9× (Jun '26).
The dividend yield has risen from 1.5% (Mar '23) to 1.7% (Jun '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 4.9% per year, and net income grown 26.0% per year. These are computed facts, not advice.

How much debt does FDX have?

As of FY2025, FedEx reported $19.9B of total debt against $5.5B of cash; operating income covered interest expense 6.6×.

What is FDX's profit margin?

In FY2025, gross margin was —, operating margin 5.9%, and net margin 4.7%.

What is FDX's P/E ratio?

As of Jun '26, FedEx traded at a price-to-earnings ratio of about 19.2× (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.