FedEx Corporation (FDX) Income Statement
FDX FY2026 at a glance
Fiscal year ended May 31, 2026 · U.S. dollarsFDX revenue and net income
Where FDX's revenue goes
FY2026Each bar shows an amount and its share of revenue. FDX kept 4.7% of revenue as net income.
FDX profit margins
FDX growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.7% | +1.7% | +2.5% | +4.6% |
| Gross profit | +8.6% | +2.5% | +3.0% | +4.1% |
| Operating income | +8.9% | +7.5% | +1.9% | +2.0% |
| Net income | +8.3% | +3.7% | −3.3% | +4.0% |
| EPS (diluted) | +10.9% | +10.5% | +2.1% | +5.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FDX quarterly EPS vs estimates
FedEx beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 28, 2026 (estimate $3.45).
FDX income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $94.72B | $87.93B | $87.69B | $90.16B | $93.51B | $83.79B | $69.22B | $69.69B | $65.45B | $7.45B |
| Cost of revenue | $74.10B | $68.93B | $68.74B | $70.99B | $73.34B | $66.00B | $55.87B | $54.87B | $51.35B | $1.44B |
| Gross profit | $20.62B | $19.00B | $18.95B | $19.17B | $20.17B | $17.79B | $13.34B | $14.83B | $14.10B | $6.00B |
| Research & development | — | — | — | — | — | — | — | — | $0 | — |
| Sales, general & admin | — | $39.55B | $1.14B | $13.83B | $13.64B | $11.77B | $10.49B | $10.04B | $8.97B | $1.93B |
| Total operating expenses | $14.00B | $12.91B | $12.60B | $13.83B | $13.64B | $11.77B | $10.49B | $10.04B | $8.97B | $0 |
| Operating income | $6.62B | $6.08B | $6.36B | $5.34B | $6.52B | $6.02B | $2.85B | $4.79B | $5.13B | $3.07B |
| Interest income | $437.0M | $363.0M | $370.0M | $496.0M | $53.0M | $741.0M | $55.0M | $59.0M | $48.0M | — |
| Interest expense | $533.0M | $789.0M | $745.0M | $694.0M | $689.0M | $793.0M | $672.0M | $588.0M | $558.0M | $0 |
| Income before taxes | $5.79B | $5.44B | $5.84B | $5.36B | $4.90B | $6.67B | $1.67B | $655.0M | $4.35B | $1.91B |
| Income taxes | $1.36B | $1.35B | $1.50B | $1.39B | $1.07B | $1.44B | $383.0M | $115.0M | −$219.0M | $784.0M |
| Net income | $4.43B | $4.09B | $4.33B | $3.97B | $3.83B | $5.23B | $1.29B | $540.0M | $4.57B | $1.13B |
| EBITDA | $11.13B | $10.49B | $10.87B | $10.23B | $9.55B | $11.26B | $5.96B | $4.60B | $8.01B | — |
| EPS (diluted) | $20.21 | $18.23 | $17.81 | $14.97 | $20.66 | $18.18 | $9.50 | $15.53 | $16.13 | $4.15 |
| Gross margin | 21.8% | 21.6% | 21.6% | 21.3% | 21.6% | 21.2% | 19.3% | 21.3% | 21.5% | 80.6% |
| Operating margin | 7.0% | 6.9% | 7.2% | 5.9% | 7.0% | 7.2% | 4.1% | 6.9% | 7.8% | 41.2% |
| Net margin | 4.7% | 4.7% | 4.9% | 4.4% | 4.1% | 6.2% | 1.9% | 0.8% | 7.0% | 15.1% |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | Aug '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.01B | $24.00B | $23.47B | $22.24B | $22.22B | $22.16B | $21.97B | $21.58B | $22.11B | $21.74B | $22.16B | $21.68B |
| Cost of revenue | $19.33B | $18.88B | $17.27B | $17.55B | $16.91B | $17.43B | $17.39B | $17.20B | $16.99B | $17.20B | $17.59B | $16.97B |
| Gross profit | $5.67B | $5.12B | $6.20B | $4.69B | $5.31B | $4.73B | $4.58B | $4.38B | $5.12B | $4.54B | $4.58B | $4.71B |
| Sales, general & admin | — | $10.82B | $10.49B | $10.10B | $9.63B | $9.84B | $9.88B | $9.78B | $1.02B | $40.0M | $41.0M | $39.0M |
| Total operating expenses | $3.58B | $3.51B | $4.82B | $3.40B | $3.32B | $3.26B | $3.20B | $3.17B | $3.14B | $3.18B | $3.16B | $3.12B |
| Operating income | $2.09B | $1.61B | $1.38B | $1.30B | $1.99B | $1.47B | $1.38B | $1.21B | $1.99B | $1.36B | $1.42B | $1.59B |
| Interest income | — | $138.0M | $135.0M | $119.0M | $124.0M | $116.0M | $102.0M | $84.0M | — | — | — | $91.0M |
| Interest expense | $140.0M | $138.0M | $135.0M | $119.0M | $124.0M | $116.0M | $102.0M | $84.0M | $96.0M | $91.0M | $97.0M | $91.0M |
| Income before taxes | $2.11B | $1.26B | $1.29B | $1.13B | $2.22B | $1.18B | $981.0M | $1.06B | $2.03B | $1.18B | $1.20B | $1.42B |
| Income taxes | $510.0M | $207.0M | $333.0M | $310.0M | $575.0M | $272.0M | $240.0M | $262.0M | $554.0M | $304.0M | $302.0M | $345.0M |
| Net income | $1.60B | $1.06B | $956.0M | $824.0M | $1.65B | $909.0M | $741.0M | $794.0M | $1.47B | $879.0M | $900.0M | $1.08B |
| EBITDA | $3.19B | $2.73B | $2.36B | $2.35B | $3.40B | $2.36B | $2.15B | $2.22B | $3.23B | $2.35B | $2.34B | $2.58B |
| EPS (diluted) | $6.31 | $5.25 | $4.82 | $3.83 | $6.07 | $4.51 | $4.05 | $3.60 | $5.41 | $3.86 | $3.99 | $4.55 |
| Gross margin | 22.7% | 21.3% | 26.4% | 21.1% | 23.9% | 21.3% | 20.8% | 20.3% | 23.2% | 20.9% | 20.6% | 21.7% |
| Operating margin | 8.4% | 6.7% | 5.9% | 5.8% | 8.9% | 6.6% | 6.3% | 5.6% | 9.0% | 6.2% | 6.4% | 7.3% |
| Net margin | 6.4% | 4.4% | 4.1% | 3.7% | 7.4% | 4.1% | 3.4% | 3.7% | 6.7% | 4.0% | 4.1% | 5.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FDX's financial statements (latest annual report filed July 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FDX financial results
In fiscal year 2026 (ended May 31, 2026), FedEx reported revenue of $94.7 billion, up 7.7% from the year before. It had net income of $4.4 billion (up 8.3%), a net profit margin of 4.7%. Diluted earnings per share came to $20.21. Over five years revenue grew at an average rate of 2.5% a year.
See the FDX stock overview for the latest quote and news, or the FDX chart for price history and technical indicators.
FDX income statement FAQ
What is FedEx's annual revenue?
FedEx reported total revenue of $94.7 billion for fiscal year 2026, which ended on May 31, 2026. That was up 7.7% from $87.9 billion the previous year.
Is FedEx profitable?
Yes. FedEx reported net income of $4.4 billion in fiscal 2026, a net profit margin of 4.7%; its operating margin was 7.0%.
What is FedEx's gross margin?
FedEx's gross margin was 21.8% in fiscal 2026: for every $100 of revenue, FedEx kept $22 after the direct cost of its products and services.
How fast is FedEx growing?
Revenue grew 2.5% a year on average over the last five fiscal years, from $83.8 billion to $94.7 billion.
What are FedEx's earnings per share?
FedEx earned $20.21 per diluted share in fiscal 2026, compared with $18.23 a year earlier.
When will FedEx report its next earnings?
FedEx is expected to report results for the quarter ending August 31, 2026 on October 28, 2026 after the market closes.
When does FedEx's fiscal year end?
FedEx's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 20, 2026.