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FedEx Corporation, together with its subsidiaries, provides transportation, e-commerce, and business services in the United States and internationally. It operates through Federal Express and FedEx Freight segments. The company offers transportation services, including express, freight, less-than-truckload freight, and time-specific freight-shipping; and small-package ground delivery services. It also provides e-commerce and digital solutions; dataworks; printing and shipping management, including digital printing, professional finishing, document creation, design solutions, direct mail, signs and graphics, custom-branded boxes, copying, computer rental, free Wi-Fi, corporate print solutions, shredding, expedited U.S. passport processing and renewal, and digital notarization; packing services, as well as packing supplies and boxes; document and business services; and retail access for package transportation. In addition, the company offers logistics services, air and ocean freight-forwarding and cargo transportation, specialty transportation, customs brokerage and clearance, trade management tools and data, and door-to-door solutions; and third party logistics and supply chain management solutions, such as inbound logistics, warehousing and distribution, fulfillment, contract packaging and product configuration, systems integration, returns process and disposition, test, repair, refurbishment, and product liquidation. Further, it provides sales, marketing, administrative, information technology, and back-office support services. FedEx Corporation was founded in 1971 and is headquartered in Memphis, Tennessee.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $87.9B | $10.5B | $4.1B | $3.0B | 14.6% | 0.3% | -5.5% |
| 2024 | $87.7B | $10.9B | $4.3B | $3.1B | 15.7% | -2.7% | 9.0% |
| 2023 | $90.2B | $10.2B | $4.0B | $2.7B | 15.2% | -3.6% | 3.8% |
| 2022 | $93.5B | $9.6B | $3.8B | $3.1B | 15.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 93,512 | 90,155 | 87,693 | 87,926 |
| Cost Of Revenue | - | 73,345 | 70,989 | 68,741 | 68,931 |
| Gross Profit | - | 20,167 | 19,166 | 18,952 | 18,995 |
| Operating Expense | - | 13,644 | 13,828 | 12,654 | 13,001 |
| Operating Income | - | 6,523 | 5,338 | 6,298 | 5,994 |
| EBITDA | - | 9,555 | 10,233 | 10,868 | 10,494 |
| EBIT | - | 5,585 | 6,057 | 6,581 | 6,230 |
| Pretax Income | - | 4,896 | 5,363 | 5,836 | 5,441 |
| Tax Provision | - | 1,070 | 1,391 | 1,505 | 1,349 |
| Net Income | - | 3,826 | 3,972 | 4,331 | 4,092 |
| Net Income Common Stockholders | - | 3,819 | 3,966 | 4,325 | 4,087 |
| Total Expenses | - | 86,989 | 84,817 | 81,395 | 81,932 |
| Interest Expense | - | 689 | 694 | 745 | 789 |
| Interest Income | - | 53 | 198 | 370 | 363 |
| Selling General And Administration | -1,983 | 726 | -1,054 | -722 | - |
| Normalized EBITDA | - | 9,833 | 10,659 | 11,607 | 11,271 |
| Normalized Income | - | 4,043.12 | 4,287.67 | 4,879.34 | 4,676.30 |
| Market Cap | 92,574.65 | 92,574.65 | 92,574.65 | 92,574.65 | 92,574.65 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FedEx Corporationthis co. | FDX | $94.3B | 22.62↓ discount | 3.30 | 14.6% | 11.86 |
| Howmet Aerospace Inc. | HWM | $98.0B | 64.46 | 18.16 | 28.2% | 43.83 |
| Quanta Services, Inc. | PWR | $93.0B | 91.17 | 10.49 | 11.5% | 38.94 |
| Johnson Controls International plc | JCI | $92.7B | 26.39 | 6.72 | 25.5% | 31.48 |
| Waste Management, Inc. | WM | $92.5B |
| - |
| - |
| - |
| - |
| - |
| 34.19 |
| 9.27 |
| 27.1% |
| 16.01 |
| Cummins Inc. | CMI | $91.1B | 32.13 | 7.40 | 23.0% | 17.90 |
| United Parcel Service, Inc. | UPS | $90.9B | 16.32 | 5.60 | 34.3% | 9.53 |
| CSX Corporation | CSX | $84.4B | 29.21 | 6.41 | 22.0% | 16.38 |
| General Dynamics Corporation | GD | $84.2B | 20.15 | 3.31 | 16.4% | 14.35 |
| Peer Median | - | 30.67 | 7.06 | 24.2% | 17.14 | |