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FedEx financials
On 30 September 2026 FedEx held 11.22B USD in cash and short-term investments against total debt of 34.13B USD. Its current ratio is 1.33: what falls due within a year against what turns into cash within a year.
- Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.
- 94.72B USD
- Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.
- 4.43B USD
- Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
- 5.12B USD
- Cash and short-term investments
- 11.22B USD
- Total debt
- 34.13B USD
- Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.
- 34.57B USD
Cash, debt and equity as of 30 Sept 2026.
FedEx earnings
Next earnings · Q2 FY2027
EPS estimate
6.45 USD
Revenue estimate
25.50B USD
Last quarter · Q1 FY2027
EPS3.74Beat +12.0%Revenue22.86BBeat +0.5%
Revenue
ReportedEstimate
EPS
ReportedEstimate
| Period | Report date | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|---|
| Q1 FY2029 | 5.34 | — | — | — | 24.60B | — | — | — | |
| Q4 FY2028 | 5.95 | — | — | — | 24.29B | — | — | — | |
| Q3 FY2028 | 4.34 | — | — | +25.00% | 22.69B | — | — | -2.26% | |
| Q2 FY2027 | 6.45 | — | — | +33.82% | 25.50B | — | — | +8.53% | |
| Q1 FY2027 | 3.34 | 3.74 | +11.98% | -2.35% | 22.73B | 22.86B | +0.54% | +2.95% | |
| Q4 FY2026 | 5.96 | 6.31 | +5.87% | +3.95% | 24.04B | 25.00B | +3.99% | +12.61% | |
| Q3 FY2026 | 3.34 | 5.25 | +57.19% | +16.41% | 22.78B | 24.00B | +5.34% | +8.11% | |
| Q2 FY2026 | 4.07 | 4.82 | +18.43% | +19.01% | 22.78B | 23.50B | +3.15% | +6.82% | |
| Q1 FY2026 | 3.60 | 3.83 | +6.39% | +6.39% | 21.65B | 22.20B | +2.55% | +2.78% | |
| Q4 FY2025 | 5.82 | 6.07 | +4.30% | +12.20% | 21.74B | 22.20B | +2.11% | +0.45% |
| Period | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|
| FY2028 | 21.10 | — | — | +15.06% | 95.96B | — | — | +3.94% |
| FY2027 | 18.34 | — | — | -9.25% | 92.32B | — | — | -2.51% |
| FY2026 | 14.94 | 20.21 | +35.28% | +10.86% | 92.58B | 94.70B | +2.28% | +7.61% |
| FY2025 | 14.47 | 18.23 | +26.01% | +2.36% | 87.41B | 88.00B | +0.67% | +0.34% |
| FY2024 | 16.41 | 17.81 | +8.53% | +18.97% | 87.59B | 87.70B | +0.12% | -2.66% |
| FY2023 | 11.92 | 14.97 | +25.59% | -27.54% | 90.88B | 90.10B | -0.86% | -3.47% |
FedEx growth and profitability
Full income statementRevenue / Net income
Revenue Net income Net margin
How FedEx makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.
Federal Express82.27B 86.9%
FedEx Freight8.80B 9.3%
Corporate, Other, and Eliminations3.65B 3.9%
Revenue94.72B 100.0%
Cost of revenue74.10B 78.2%
Gross profit20.62B 21.8%
Other operating expenses14.00B 14.8%
Operating income6.62B 7.0%
Tax1.36B 1.4%
Other expense830.00M 0.9%
Net income4.43B 4.7%
FY2026, in USD. Each band is as wide as its money; the percentage is its share of revenue.
FY2026, in USD. Each band is as wide as its money; the percentage is its share of revenue.
FedEx revenue breakdown
By product
FY2026
86.9%Federal Express9.3%FedEx Freight3.9%Corporate, Other, and Eliminations
| Segment | Revenue | Share of revenue | Change on the year |
|---|---|---|---|
| Federal Express | 82.27B | 86.9% | +246.9% |
| FedEx Freight | 8.80B | 9.3% | +3,460.7% |
| Corporate, Other, and Eliminations | 3.65B | 3.9% | — |
By region
FY2026
71.7%United States28.3%Non Us
| Region | Revenue | Share of revenue | Change on the year |
|---|---|---|---|
| United States | 67.94B | 71.7% | +8.0% |
| Non Us | 26.78B | 28.3% | +7.1% |
Operating and free cash flow
Full cash flow statementOperating cash flow Free cash flow
FedEx financial health
Full balance sheet- Cash and short-term investments
- 11.22B USD
- Total debt
- 34.13B USD
- Net cash
- -22.91B USD
- Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.
- 1.33
- Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
- 0.99
- Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.
- 7 / 9
- Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.
- 2.83
Cash, debt and free cash flow
Cash and short-term investments Total debt Free cash flow
Assets, liabilities and equity
Total assets Total liabilities Shareholders' equity
FedEx valuation
- Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 17.53
- Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.
- 2.18
Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.
Market capitalization
75.27B USD
+
Total debt
34.13B USD
−
Cash and short-term investments
11.22B USD
=
Enterprise value
98.19B USD
Valuation over time
P/EForward P/EForward P/E · Estimate
FedEx against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.
Each figure in the latest fiscal year against the same figure from FY2022 to FY2026: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.
Its peers: United Parcel Service, Expeditors International of Washington, J.B. Hunt Transport Services, FedEx Freight Holding Company, and C.H. Robinson Worldwide, the US Integrated Freight & Logistics companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.
- P/E (today)Above its median17.58.318.5
- Gross marginHighest in 5 years21.8%21.3%21.8%Against its peers: 2 of 6Peers' median 15.3%
- Operating marginAbove its median7.0%5.9%7.2%Against its peers: 4 of 6Peers' median 7.2%
- Net marginAbove its median4.7%4.1%4.9%Against its peers: 5 of 6Peers' median 6.3%
- Return on equityLowest in 5 years14.0%14.0%15.7%Against its peers: 5 of 5Peers' median 33.1%
- Free cash flow marginHighest in 5 years5.4%2.9%5.4%Against its peers: 4 of 6Peers' median 5.5%
- Revenue growthAbove its median7.7%-3.6%11.6%Against its peers: 1 of 6Peers' median -1.1%
- EPS growthAbove its median10.4%-26.3%11.1%Against its peers: 2 of 6Peers' median 4.0%
- Debt to EBITDAAbove its median3.86×3.47×3.89×Against its peers: 5 of 6Peers' median 1.83×
- Current ratioHighest in 5 years1.481.191.48Against its peers: 4 of 6Peers' median 1.52
Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.
FedEx dividends
- Annual dividend
- 4.88 USD
- Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.
- 1.52%
- Years of dividend growthWhat are years of dividend growth? The years in a row a company has raised its dividend per share. 25 years make an S&P 500 company a Dividend Aristocrat; 50 make a Dividend King.
- 6
- Frequency
- Quarterly
- Last payment
- 1.22 USD
- Last ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.
- 14 Sept 2026
- Last payment date
- 1 Oct 2026
Dividends per share
FedEx ownership
- InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.
- 80.86%
- Institutional holders
- 2,045 (-85)
- Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.
- 93.18%
Who owns the shares
Institutions 80.9% Others 19.1%
As of 30 Jun 2026
Shares free to trade
Free float 218.23M shares ·93.2% Closely held 15.97M shares ·6.8%
Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.
Insider trading
| Quarter | Purchases | Sales | Shares acquired | Shares disposed of |
|---|---|---|---|---|
| Q4 2026 | 0 | 5 | 42.74K | 84.95K |
| Q3 2026 | 0 | 0 | 11.57K | 268.54K |
| Q2 2026 | 0 | 9 | 233.89K | 195.89K |
| Q1 2026 | 0 | 0 | 19.64K | 21.56K |
Shares outstanding
Basic shares Diluted shares Change in diluted shares
Common questions about FedEx's financials
Source: Financial Modeling Prep