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FedEx Corp (FDX): Financial Statements and Key Figures
FedEx Corp (ticker FDX) is classified by the SEC under industry code 4513, Air Courier Services, and is listed on NYSE. It files its annual report with the U.S. Securities and Exchange Commission (SEC) on Form 10-K and reports in US dollars. Its fiscal 2026 ended on 31 May 2026; the annual report for that year was filed on 20 July 2026. For that year it reported revenue of US$ 94,720 million, net income of US$ 4,433 million and total assets of US$ 98,937 million at the year end. Fiscal years 2017 to 2026 are shown below.
The figures are as the company filed them, standardised by reporting tag; the filing is the authority. For education and analysis, not investment advice.
Key Figures
Money in US$ millions; earnings per share in US dollars. Free cash flow is the cash from operating activities less capital expenditures. Total debt is short-term plus long-term debt, or the total the company itself tags when that is larger. A margin is the profit line divided by revenue; return on equity is net income divided by the average of shareholders' equity at the start and the end of the year. A blank cell means the company does not report the line under a standard tag; it does not mean zero.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Last 12 months to 30 Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| year ended on | 31 May | 31 May | 31 May | 31 May | 31 May | 31 May | 31 May | 31 May | 31 May | 31 May | not a fiscal year |
| Revenue (US$ millions) | 60,319 | 65,450 | 69,693 | 69,217 | 83,959 | 93,512 | 90,155 | 87,693 | 87,926 | 94,720 | 98,468 |
| Net income (US$ millions) | 2,997 | 4,572 | 540 | 1,286 | 5,231 | 3,826 | 3,972 | 4,331 | 4,092 | 4,433 | 8,627 |
| Earnings per share, diluted (US$) | 11.07 | 16.79 | 2.03 | 4.90 | 19.45 | 14.33 | 15.48 | 17.21 | 16.81 | 18.55 | 35.98 |
| Cash from operating activities (US$ millions) | 4,930 | 4,674 | 5,613 | 5,097 | 10,135 | 9,832 | 8,848 | 8,312 | 7,036 | 8,925 | 8,933 |
| Free cash flow (US$ millions) | −186 | −989 | 123 | −771 | 4,251 | 3,069 | 2,674 | 3,136 | 2,981 | 5,116 | 4,904 |
| Total assets (US$ millions) | 48,552 | 52,330 | 54,403 | 73,537 | 82,777 | 85,994 | 87,143 | 87,007 | 87,627 | 98,937 | 92,926 |
| Total debt (US$ millions) | 14,931 | 16,585 | 17,581 | 22,003 | 20,879 | 20,264 | 20,579 | 20,203 | 20,579 | 25,714 | 19,355 |
| Shareholders' equity (US$ millions) | 16,073 | 19,416 | 17,757 | 18,295 | 24,168 | 24,939 | 26,088 | 27,582 | 28,074 | 31,647 | 34,568 |
| Gross margin | 77.4 % | 76.9 % | 76.1 % | ||||||||
| Operating margin | 7.6 % | 6.5 % | 6.4 % | 3.5 % | 7.0 % | 6.7 % | 5.4 % | 6.3 % | 5.9 % | 5.8 % | 6.0 % |
| Net margin | 5.0 % | 7.0 % | 0.8 % | 1.9 % | 6.2 % | 4.1 % | 4.4 % | 4.9 % | 4.7 % | 4.7 % | 8.8 % |
| Return on equity | 20.1 % | 25.8 % | 2.9 % | 7.1 % | 24.6 % | 15.6 % | 15.6 % | 16.1 % | 14.7 % | 14.8 % |
The last column is not a fiscal year. It is the last twelve months to 30 September 2026: the last fiscal year, plus the year to date in the latest quarterly report (Form 10-Q, filed 28 October 2026), less the same year-to-date period a year before; total assets, total debt and equity are those of the quarterly balance sheet. Quarterly reports are unaudited interim data. The column enters no growth rate and no chart.
Charts
Figure 1: Revenue and net income by fiscal year (US$ millions)
Figure 2: Cash from operating activities and free cash flow by fiscal year (US$ millions)
Compound Growth
The compound annual growth rate is the single yearly rate that, applied every year, takes the first value to the last one: the last value divided by the first, raised to the power of one over the number of years, less one. It uses only the two end values, so an unusual first or last year moves it a great deal.
- Revenue: 50,365 in fiscal 2016 to 94,720 in fiscal 2026 (US$ millions), 10 years: 6.5 % a year.
- Diluted earnings per share: 6.51 in fiscal 2016 to 18.55 in fiscal 2026 (US dollars per share), 10 years: 11.0 % a year.
Analyse This Company
Each link opens a calculator with FedEx Corp loaded from the same data.
- Company Financial Statements: The full income statement, balance sheet and cash flow statement of each fiscal year, with common-size and growth views.
- Capital Allocation History: Where the cash from operations went each year: capital expenditures, dividends, share repurchases, debt.
- Dividend Sustainability: How the dividends paid compare with earnings and with free cash flow, year by year.
- Earnings Quality Trend: How much of reported earnings arrived as cash, and how accruals moved over the years.
- Reverse DCF: The growth in free cash flow that a share price you type would assume.
- Financial Quality Scores: The Piotroski F-score and the DuPont breakdown of return on equity, worked step by step.
- Valuation Range: What a share price you type corresponds to as multiples of earnings, cash flow and book value, against the company's own history.
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Source
The annual report first filed for each fiscal year, with a link to its index page on EDGAR, the SEC's filing system. A later annual report repeats earlier years for comparison and sometimes restates them; where a value was taken from a later report, the last column gives the date of the latest one used.
| Fiscal year | Year ended | Form | Filed | On EDGAR | Later report used, filed |
|---|---|---|---|---|---|
| 2026 | 31 May 2026 | Form 10-K | 20 Jul 2026 | filing index | |
| 2025 | 31 May 2025 | Form 10-K | 21 Jul 2025 | filing index | 20 Jul 2026 |
| 2024 | 31 May 2024 | Form 10-K | 15 Jul 2024 | filing index | 20 Jul 2026 |
| 2023 | 31 May 2023 | Form 10-K | 17 Jul 2023 | filing index | 21 Jul 2025 |
| 2022 | 31 May 2022 | Form 10-K | 18 Jul 2022 | filing index | 15 Jul 2024 |
| 2021 | 31 May 2021 | Form 10-K | 19 Jul 2021 | filing index | 17 Jul 2023 |
| 2020 | 31 May 2020 | Form 10-K | 20 Jul 2020 | filing index | 18 Jul 2022 |
| 2019 | 31 May 2019 | Form 10-K | 16 Jul 2019 | filing index | 19 Jul 2021 |
| 2018 | 31 May 2018 | Form 10-K | 16 Jul 2018 | filing index | 20 Jul 2020 |
| 2017 | 31 May 2017 | Form 10-K | 17 Jul 2017 | filing index | 16 Jul 2019 |
- The figures are as filed with the SEC and standardised by reporting tag. The filing is the authority: check it before relying on a number.
- A blank cell means the company does not tag that line, or the tagged figure is withheld as incomplete. It does not mean zero.
- Currency: every figure is in the currency the company reported that year (US dollars here). Nothing is converted.
- Per-share figures are adjusted for stock splits detected from the company's own restated figures, except where a year is flagged; the as-filed values are in the filings.
- For a bank, broker, insurer or other financial company (SIC codes 6000 to 6799) net debt, EBITDA, the current ratio and debt to equity are not meaningful and the tools show them as n/m.
- A fiscal year is named after the calendar year in which it ends. The data is updated from time to time, not daily; this company's figures were loaded on 13 November 2026.
For education and analysis, not investment advice.