F

FedEx Corporation

FDX · CIK 0001048911

18 fiscal years · 68 SEC filings · every number carries its receipt

Revenue (FY)
$87.93B0.3%
FY2025
Net income (FY)
$4.09B5.5%
FY2025
Free cash flow (FY)
$2.98B4.9%
FY2025
Diluted EPS (FY)
$16.812.3%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$50B$100BFY2008 · Revenue $37.95B · Net income $1.13B · 0000950123-10-065730 · filed 2010-07-15FY08Revenue $37.95BNet income $1.13B0000950123-10-065730 · filed 2010-07-15FY2009 · Revenue $35.50B · Net income $98.0M · 0000950123-11-065246 · filed 2011-07-12FY09Revenue $35.50BNet income $98.0M0000950123-11-065246 · filed 2011-07-12FY2010 · Revenue $34.73B · Net income $1.18B · 0001193125-12-303558 · filed 2012-07-16FY10Revenue $34.73BNet income $1.18B0001193125-12-303558 · filed 2012-07-16FY2011 · Revenue $39.30B · Net income $1.45B · 0001193125-13-290858 · filed 2013-07-15FY11Revenue $39.30BNet income $1.45B0001193125-13-290858 · filed 2013-07-15FY2012 · Revenue $42.68B · Net income $2.03B · 0001193125-14-267851 · filed 2014-07-14FY12Revenue $42.68BNet income $2.03B0001193125-14-267851 · filed 2014-07-14FY2013 · Revenue $44.29B · Net income $2.72B · 0001193125-15-252494 · filed 2015-07-14FY13Revenue $44.29BNet income $2.72B0001193125-15-252494 · filed 2015-07-14FY2014 · Revenue $45.57B · Net income $2.32B · 0001193125-16-650267 · filed 2016-07-18FY14Revenue $45.57BNet income $2.32B0001193125-16-650267 · filed 2016-07-18FY2015 · Revenue $47.45B · Net income $1.05B · 0000950123-17-006152 · filed 2017-07-17FY15Revenue $47.45BNet income $1.05B0000950123-17-006152 · filed 2017-07-17FY2016 · Revenue $50.37B · Net income $1.82B · 0001564590-18-016877 · filed 2018-07-16FY16Revenue $50.37BNet income $1.82B0001564590-18-016877 · filed 2018-07-16FY2017 · Revenue $60.32B · Net income $3.00B · 0001564590-19-025065 · filed 2019-07-16FY17Revenue $60.32BNet income $3.00B0001564590-19-025065 · filed 2019-07-16FY2018 · Revenue $65.45B · Net income $4.57B · 0001564590-20-032775 · filed 2020-07-20FY18Revenue $65.45BNet income $4.57B0001564590-20-032775 · filed 2020-07-20FY2019 · Revenue $69.69B · Net income $540.0M · 0001564590-21-037031 · filed 2021-07-19FY19Revenue $69.69BNet income $540.0M0001564590-21-037031 · filed 2021-07-19FY2020 · Revenue $69.22B · Net income $1.29B · 0000950170-22-012762 · filed 2022-07-18FY20Revenue $69.22BNet income $1.29B0000950170-22-012762 · filed 2022-07-18FY2021 · Revenue $83.96B · Net income $5.23B · 0000950170-23-033201 · filed 2023-07-17FY21Revenue $83.96BNet income $5.23B0000950170-23-033201 · filed 2023-07-17FY2022 · Revenue $93.51B · Net income $3.83B · 0000950170-24-083577 · filed 2024-07-15FY22Revenue $93.51BNet income $3.83B0000950170-24-083577 · filed 2024-07-15FY2023 · Revenue $90.16B · Net income $3.97B · 0001048911-25-000011 · filed 2025-07-21FY23Revenue $90.16BNet income $3.97B0001048911-25-000011 · filed 2025-07-21FY2024 · Revenue $87.69B · Net income $4.33B · 0001048911-25-000011 · filed 2025-07-21FY24Revenue $87.69BNet income $4.33B0001048911-25-000011 · filed 2025-07-21FY2025 · Revenue $87.93B · Net income $4.09B · 0001048911-25-000011 · filed 2025-07-21FY25Revenue $87.93BNet income $4.09B0001048911-25-000011 · filed 2025-07-21FY25Revenue $87.93BNet income $4.09B0001048911-25-000011 · filed 2025-07-21FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 2.3× since FY2008 · net margin 3.0% → 4.7%

MarginsNet marginFCF margin
0%5%FY2008 · Net margin 3.0% · FCF margin 1.4%FY08Net margin 3.0%FCF margin 1.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 0.3% · FCF margin 0.8%FY09Net margin 0.3%FCF margin 0.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 3.4% · FCF margin 0.9%FY10Net margin 3.4%FCF margin 0.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 3.7% · FCF margin 1.5%FY11Net margin 3.7%FCF margin 1.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 4.8% · FCF margin 1.9%FY12Net margin 4.8%FCF margin 1.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 6.1% · FCF margin 3.0%FY13Net margin 6.1%FCF margin 3.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 5.1% · FCF margin 1.6%FY14Net margin 5.1%FCF margin 1.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 2.2% · FCF margin 2.1%FY15Net margin 2.2%FCF margin 2.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 3.6% · FCF margin 1.8%FY16Net margin 3.6%FCF margin 1.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 5.0% · FCF margin -0.3%FY17Net margin 5.0%FCF margin -0.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 7.0% · FCF margin -1.5%FY18Net margin 7.0%FCF margin -1.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 0.8% · FCF margin 0.2%FY19Net margin 0.8%FCF margin 0.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 1.9% · FCF margin -1.1%FY20Net margin 1.9%FCF margin -1.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 6.2% · FCF margin 5.1%FY21Net margin 6.2%FCF margin 5.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 4.1% · FCF margin 3.3%FY22Net margin 4.1%FCF margin 3.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 4.4% · FCF margin 3.0%FY23Net margin 4.4%FCF margin 3.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 4.9% · FCF margin 3.6%FY24Net margin 4.9%FCF margin 3.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 4.7% · FCF margin 3.4%FY25Net margin 4.7%FCF margin 3.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 4.7%FCF margin 3.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 4.7% · free cash flow 3.4% of revenue

Cash engineOperating cash flowFree cash flow
$0$5B$10BFY2008 · OCF $3.46B · FCF $518.0M · 0000950123-10-065730 · filed 2010-07-15FY08OCF $3.46BFCF $518.0M0000950123-10-065730 · filed 2010-07-15FY2009 · OCF $2.75B · FCF $294.0M · 0000950123-11-065246 · filed 2011-07-12FY09OCF $2.75BFCF $294.0M0000950123-11-065246 · filed 2011-07-12FY2010 · OCF $3.14B · FCF $322.0M · 0001193125-12-303558 · filed 2012-07-16FY10OCF $3.14BFCF $322.0M0001193125-12-303558 · filed 2012-07-16FY2011 · OCF $4.04B · FCF $607.0M · 0001193125-13-290858 · filed 2013-07-15FY11OCF $4.04BFCF $607.0M0001193125-13-290858 · filed 2013-07-15FY2012 · OCF $4.83B · FCF $828.0M · 0001193125-14-267851 · filed 2014-07-14FY12OCF $4.83BFCF $828.0M0001193125-14-267851 · filed 2014-07-14FY2013 · OCF $4.69B · FCF $1.31B · 0001193125-15-252494 · filed 2015-07-14FY13OCF $4.69BFCF $1.31B0001193125-15-252494 · filed 2015-07-14FY2014 · OCF $4.26B · FCF $731.0M · 0001193125-15-252494 · filed 2015-07-14FY14OCF $4.26BFCF $731.0M0001193125-15-252494 · filed 2015-07-14FY2015 · OCF $5.37B · FCF $1.02B · 0001193125-15-252494 · filed 2015-07-14FY15OCF $5.37BFCF $1.02B0001193125-15-252494 · filed 2015-07-14FY2016 · OCF $5.71B · FCF $890.0M · 0001564590-18-016877 · filed 2018-07-16FY16OCF $5.71BFCF $890.0M0001564590-18-016877 · filed 2018-07-16FY2017 · OCF $4.93B · FCF −$186.0M · 0001564590-19-025065 · filed 2019-07-16FY17OCF $4.93BFCF −$186.0M0001564590-19-025065 · filed 2019-07-16FY2018 · OCF $4.67B · FCF −$989.0M · 0001564590-20-032775 · filed 2020-07-20FY18OCF $4.67BFCF −$989.0M0001564590-20-032775 · filed 2020-07-20FY2019 · OCF $5.61B · FCF $123.0M · 0001564590-21-037031 · filed 2021-07-19FY19OCF $5.61BFCF $123.0M0001564590-21-037031 · filed 2021-07-19FY2020 · OCF $5.10B · FCF −$771.0M · 0000950170-22-012762 · filed 2022-07-18FY20OCF $5.10BFCF −$771.0M0000950170-22-012762 · filed 2022-07-18FY2021 · OCF $10.13B · FCF $4.25B · 0000950170-23-033201 · filed 2023-07-17FY21OCF $10.13BFCF $4.25B0000950170-23-033201 · filed 2023-07-17FY2022 · OCF $9.83B · FCF $3.07B · 0000950170-24-083577 · filed 2024-07-15FY22OCF $9.83BFCF $3.07B0000950170-24-083577 · filed 2024-07-15FY2023 · OCF $8.85B · FCF $2.67B · 0001048911-25-000011 · filed 2025-07-21FY23OCF $8.85BFCF $2.67B0001048911-25-000011 · filed 2025-07-21FY2024 · OCF $8.31B · FCF $3.14B · 0001048911-25-000011 · filed 2025-07-21FY24OCF $8.31BFCF $3.14B0001048911-25-000011 · filed 2025-07-21FY2025 · OCF $7.04B · FCF $2.98B · 0001048911-25-000011 · filed 2025-07-21FY25OCF $7.04BFCF $2.98B0001048911-25-000011 · filed 2025-07-21FY25OCF $7.04BFCF $2.98B0001048911-25-000011 · filed 2025-07-21’09’13’17’21’25

FY2025: $7.04B operating cash − $4.05B capex = $2.98B free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%FY2009 · ROE 0.7% · ROA 0.4%FY09ROE 0.7%ROA 0.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 8.6% · ROA 4.8%FY10ROE 8.6%ROA 4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 9.5% · ROA 5.3%FY11ROE 9.5%ROA 5.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 13.8% · ROA 6.8%FY12ROE 13.8%ROA 6.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 15.6% · ROA 8.1%FY13ROE 15.6%ROA 8.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 15.2% · ROA 7.0%FY14ROE 15.2%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 7.0% · ROA 2.9%FY15ROE 7.0%ROA 2.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 13.2% · ROA 4.0%FY16ROE 13.2%ROA 4.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 18.6% · ROA 6.2%FY17ROE 18.6%ROA 6.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 23.5% · ROA 8.7%FY18ROE 23.5%ROA 8.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 3.0% · ROA 1.0%FY19ROE 3.0%ROA 1.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 7.0% · ROA 1.7%FY20ROE 7.0%ROA 1.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 21.6% · ROA 6.3%FY21ROE 21.6%ROA 6.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 15.3% · ROA 4.4%FY22ROE 15.3%ROA 4.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 15.2% · ROA 4.6%FY23ROE 15.2%ROA 4.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 15.7% · ROA 5.0%FY24ROE 15.7%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 14.6% · ROA 4.7%FY25ROE 14.6%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 14.6%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 1% (FY2009) → 15% (FY2025) · on assets 4.7%

The receipts

Financial statements

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millionsQ3 2026Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024Q3 2023Q2 2023Q1 2023
Revenue24,00023,46922,24422,16021,96721,57921,73822,16521,68122,16922,81423,242
Net income1,0569568249097417948799001,078771788875
Diluted EPS4.414.043.463.763.033.213.513.554.233.053.073.33
Diluted shares239236238242244247250253254253256262
Operating cash flow1,7161,1872,2301,607
Capital expenditures6237671,2901,284
Free cash flow1,093420940323
Cash & equivalents8,0086,5706,1665,1355,0295,9435,6446,7297,0555,3734,6466,850
Total assets94,73389,18188,41685,04385,48186,71186,11488,05187,57685,77585,59185,826
Shareholders' equity29,80428,14027,77126,70826,46027,17626,37526,76626,53424,73324,11525,140

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.