FDX

MKT CAP:$92B

FedEx Corporation

Market Cap

$92B

Industrials·Integrated Freight & Logistics·🇺🇸 United States·NYSE

Industrials·Integrated·🇺🇸·NYSE

Stock Price

$387.44+$94.31 (+32.18%)

Apr 24, 2026

Company Details

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportat...

CEO

Rajesh Subramaniam

IPO Date

Apr 12, 1978

Website

www.fedex.com

Key Metrics TTM

Revenue

$91.9B

+4.7% YoY

Net Income

$4.5B

EPS (Diluted)

$18.62

Free Cash Flow

$4.4B

Revenue / Share

$378.33

Gross Margin

24.4%

Operating Margin

6.5%

Net Margin

4.9%

FCF Margin

4.8%

P/S

1.0x

P/E

20.6x

Earnings Reports

Q3 2026

Mar 19, 2026

$24.0B+8.3%EPS $4.35

Q2 2026

Dec 18, 2025

$23.5B+6.8%EPS $3.93

Q1 2026

Sep 18, 2025

$22.2B+3.1%EPS $3.46

FY 2025

Jul 21, 2025

$87.9B+0.3%EPS $16.81

Q4 2025

Jul 21, 2025

$22.2B+0.5%EPS $6.88

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$24.4B	$5.7B	$1.9B
Q1 23	$23.2B	$4.7B	$1.2B
Q2 23	$22.8B	$4.6B	$1.2B
Q3 23	$22.2B	$4.6B	$1.2B
Q4 23	$21.9B	$5.2B	$1.8B
Q1 24	$21.7B	$4.7B	$1.6B
Q2 24	$22.2B	$4.6B	$1.4B
Q3 24	$21.7B	$4.5B	$1.4B
Q4 24	$22.1B	$5.1B	$2.0B
Q1 25	$21.6B	$4.4B	$1.2B
Q2 25	$22.0B	$4.6B	$1.4B
Q3 25	$22.2B	$4.7B	$1.5B
Q4 25	$22.2B	$5.3B	$2.0B
Q1 26	$22.2B	$4.7B	$1.3B
Q2 26	$23.5B	$6.2B	$1.4B
Q3 26	$24.0B	$6.2B	$1.3B

Valuation

Quarter	P/S	P/E
Q4 22	0.6x	15.1x
Q1 23	0.6x	15.6x
Q2 23	0.5x	13.3x
Q3 23	0.6x	17.1x
Q4 23	0.6x	14.0x
Q1 24	0.7x	15.5x
Q2 24	0.7x	14.8x
Q3 24	0.7x	13.6x
Q4 24	0.7x	14.2x
Q1 25	0.8x	18.2x
Q2 25	0.8x	18.3x
Q3 25	0.7x	15.7x
Q4 25	0.6x	12.9x
Q1 26	0.6x	13.7x
Q2 26	0.7x	15.3x
Q3 26	1.0x	21.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$3.5B	$1.1B
Q1 23	$1.6B	$323M
Q2 23	$1.5B	-$340M
Q3 23	$2.3B	$998M
Q4 23	$3.4B	$1.7B
Q1 24	$2.2B	$940M
Q2 24	$1.8B	$469M
Q3 24	$1.6B	$231M
Q4 24	$2.7B	$1.5B
Q1 25	$1.2B	$420M
Q2 25	$1.3B	$500M
Q3 25	$2.0B	$1.0B
Q4 25	$2.5B	$1.0B
Q1 26	$1.7B	$1.1B
Q2 26	$2.0B	$1.2B
Q3 26	$2.0B	$1.0B

Capital Expenditures

Quarter	CapEx
Q4 22	$2.4B
Q1 23	$1.3B
Q2 23	$1.9B
Q3 23	$1.3B
Q4 23	$1.8B
Q1 24	$1.3B
Q2 24	$1.3B
Q3 24	$1.4B
Q4 24	$1.2B
Q1 25	$767M
Q2 25	$818M
Q3 25	$997M
Q4 25	$1.5B
Q1 26	$623M
Q2 26	$757M
Q3 26	$955M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+8.1%	+9.2%
Q1 23	+5.9%	+7.3%
Q2 23	-2.5%	-1.1%
Q3 23	-6.2%	-5.3%
Q4 23	-10.1%	-10.4%
Q1 24	-6.7%	-8.7%
Q2 24	-2.8%	-4.0%
Q3 24	-1.9%	-3.0%
Q4 24	+0.8%	-0.2%
Q1 25	-0.5%	+1.4%
Q2 25	-0.9%	-0.7%
Q3 25	+1.9%	+1.5%
Q4 25	+0.5%	+0.6%
Q1 26	+3.1%	+2.8%
Q2 26	+6.8%	+7.3%
Q3 26	+8.3%	+9.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$39M	0.2%
Q1 23	$68M	0.3%
Q2 23	$40M	0.2%
Q3 23	$34M	0.2%
Q4 23	$40M	0.2%
Q1 24	$56M	0.3%
Q2 24	$40M	0.2%
Q3 24	$34M	0.2%
Q4 24	$33M	0.1%
Q1 25	$48M	0.2%
Q2 25	$36M	0.2%
Q3 25	$32M	0.1%
Q4 25	$38M	0.2%
Q1 26	$56M	0.3%
Q2 26	$43M	0.2%
Q3 26	$37M	0.2%

OpEx Breakdown

Quarter	SG&A
Q4 22	$3.9B
Q1 23	$3.5B
Q2 23	$3.4B
Q3 23	$3.4B
Q4 23	$3.5B
Q1 24	$3.1B
Q2 24	$3.2B
Q3 24	$3.2B
Q4 24	$3.1B
Q1 25	$3.2B
Q2 25	$3.2B
Q3 25	$3.3B
Q4 25	$3.3B
Q1 26	$3.4B
Q2 26	$4.8B

Revenue Segments

Quarter	Corporate Reconciling Items And Eliminations	Fedex Express Segment	Fedex Freight Segment	Fedex Ground Segment	Fedex Services Segment	Federal Express Segment
Q1 23	$1.2B	$11.1B	$2.7B	$8.2B	$70M	—
Q2 23	$1.0B	$10.9B	$2.5B	$8.4B	$68M	—
Q3 23	$893M	$10.3B	$2.2B	$8.7B	$87M	—
Q1 24	$813M	$10.1B	$2.3B	$8.4B	$72M	—
Q2 24	$847M	$10.3B	$2.4B	$8.6B	$65M	—
Q3 24	$745M	$10.1B	$2.1B	$8.7B	$64M	—
Q1 25	$945M	—	$2.3B	—	—	$18.3B
Q2 25	$949M	—	$2.2B	—	—	$18.8B
Q3 25	$890M	—	$2.1B	—	—	$19.2B

Revenue by Geography

Quarter	Non Us	United States
Q1 26	$6.3B	$16.0B
Q2 26	$6.7B	$16.7B
Q3 26	$6.6B	$17.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$6.9B	$0	$6.9B
Q1 23	$6.8B	$0	$6.8B
Q2 23	$4.6B	$0	$4.6B
Q3 23	$5.4B	$0	$5.4B
Q4 23	$6.9B	$0	$6.9B
Q1 24	$7.1B	$0	$7.1B
Q2 24	$6.7B	$0	$6.7B
Q3 24	$5.6B	$0	$5.6B
Q4 24	$6.5B	$0	$6.5B
Q1 25	$5.9B	$76M	$6.0B
Q2 25	$5.0B	$77M	$5.1B
Q3 25	$5.1B	$72M	$5.2B
Q4 25	$5.5B	$70M	$5.6B
Q1 26	$6.2B	$71M	$6.2B
Q2 26	$6.6B	$0	$6.6B
Q3 26	$8.0B	$0	$8.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	262M	-1.1%	-3.5%
Q1 23	262M	+0.0%	-3.3%
Q2 23	256M	-2.3%	-4.5%
Q3 23	253M	-1.2%	-4.5%
Q4 23	254M	+0.4%	-3.0%
Q1 24	254M	0.0%	-3.1%
Q2 24	253M	-0.4%	-1.2%
Q3 24	250M	-1.2%	-1.2%
Q4 24	248M	-0.8%	-2.4%
Q1 25	247M	-0.3%	-2.6%
Q2 25	244M	-1.4%	-3.6%
Q3 25	244M	0.0%	-2.4%
Q4 25	238M	-2.5%	-4.0%
Q1 26	243M	+2.1%	-1.8%
Q2 26	243M	0.0%	-0.4%
Q3 26	243M	0.0%	-0.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$127.7K	191K
Q1 23	$121.7K	191K
Q2 23	$119.4K	191K
Q3 23	$116.1K	191K
Q4 23	$116.6K	188K
Q1 24	$115.3K	188K
Q2 24	$117.9K	188K
Q3 24	$115.6K	188K
Q4 24	$91.7K	241K
Q1 25	$89.5K	241K
Q2 25	$91.1K	241K
Q3 25	$92.0K	241K
Q4 25	$50.5K	440K
Q1 26	$50.6K	440K
Q2 26	$53.3K	440K
Q3 26	$54.5K	440K

Revenue / Employee