A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
FEDEX CORP
FDX
$76.6B
Mkt Cap
$314.96
-0.21%
FEDEX CORP (FDX) has a current P/E ratio of 17.4, compared to its historical median P/E of 14.4. The stock is currently considered Fair based on its historical valuation range.
FEDEX CORP (FDX) has a 5-year average return on invested capital (ROIC) of 11.0%. This indicates solid capital allocation.
FEDEX CORP (FDX) has a market capitalization of $100.2B. It is classified as a large-cap stock.
Yes, FEDEX CORP (FDX) pays a dividend with a trailing twelve-month yield of 1.36%. The company also returns capital through share buybacks, with a buyback yield of 1.29%.
Based on historical P/E analysis, FEDEX CORP (FDX) appears fair. The current P/E of 17.4 is 21% above its historical median of 14.4. The estimated fair value CAGR (P/E method) is 19.3%.
FEDEX CORP (FDX) operates in the Air Courier Services industry, within the Industrials sector.
FEDEX CORP (FDX) reported annual revenue of $87.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
FedEx Corporation is a global transportation and logistics company operating through two major reportable segments: Federal Express, which provides integrated air-ground express package delivery services to more than 220 countries and territories, and FedEx Freight, which offers less-than-truckload freight transportation. Federal Express operates a differentiated network comprising approximately 700 aircraft, over 175,000 motorized vehicles, and approximately 63,000 drop-off locations, serving customers through time-definite and deferred domestic and international services alongside e-commerce solutions. The company generates revenue through a diversified service portfolio spanning overnight and deferred package delivery, international express and economy services, freight services, and specialized offerings such as same-day delivery and customs brokerage. FedEx's competitive moat derives from its decades-long investment in global infrastructure, unmatched air route authorities, proprietary data and digital intelligence capabilities, and the scale of its network connecting over 99% of global GDP, which would be extremely difficult and costly to replicate. The company serves a broad customer base including e-commerce retailers, small and medium-sized businesses, large enterprises, and healthcare organizations across geographies, with particular strategic focus on high-margin B2B verticals and premium services. FedEx is executing a multi-year transformation through initiatives including one FedEx consolidation, Network 2.0 optimization, the DRIVE program for structural cost reduction, and Tricolor international network redesign, while leveraging FedEx Dataworks' digital intelligence and artificial intelligence capabilities to enhance operational efficiency and customer experience.
【Transformation momentum accelerating】 Management expects continued strong execution of its commercial strategy focused on premium, higher-margin verticals and revenue quality, with sustained pricing discipline and yield growth offsetting volume pressures in lower-margin segments. The company anticipates structural cost reductions from Network 2.0 and DRIVE initiatives to drive margin expansion, with transformation-related savings exceeding initial targets and expected to reach approximately $2 billion cumulatively by end of 2027. FedEx expects robust free cash flow generation and disciplined capital allocation, targeting capital intensity of approximately 4% of revenue through 2029 while maintaining balanced deployment across dividends, share repurchases, and strategic investments. The separation of FedEx Freight, completed in June 2026, positions Federal Express as a focused express transportation company to pursue higher-growth opportunities in premium B2B and e-commerce segments, with management confident in achieving its calendar year 2029 financial targets.
| Metric | Target | Period |
|---|---|---|
| Adjusted earnings per diluted share (continuing operations) | $16.90–$18.10 | Calendar year 2026 |
| Revenue growth | approximately 11% | Calendar year 2026 |
| Capital expenditures | approximately $3.9 billion | Calendar year 2026 |
| Capital intensity | approximately 4% of revenue | Calendar year 2029 |
Adjusted earnings per diluted share (continuing operations) (Calendar year 2026): “Based on our current assumptions, we expect calendar year 2026 adjusted earnings from continuing operations to be $16.90- $18.10 per diluted share.”
Revenue growth (Calendar year 2026): “We assume current volume and yield trends continue, supporting revenue growth of approximately 11%, including approximately three percentage points for assumed fuel price-driven surcharge benefit.”
Capital expenditures (Calendar year 2026): “In CY 2026, we expect CapEx to be approximately $3.9 billion.”
Capital intensity (Calendar year 2029): “we target CY 2029 capital intensity to remain at approximately 4% of revenue.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 91.9B | 87.9B | 87.7B | 90.2B | 93.5B | 84.0B |
| Net Income | 4.5B | 4.1B | 4.3B | 4.0B | 3.8B | 5.2B |
| EPS | $14.08 | $16.81 | $17.21 | $15.48 | $14.33 | $19.45 |
| Free Cash Flow | 4.4B | 3.0B | 3.1B | 2.7B | 3.1B | 4.3B |
| ROIC | 8.8% | 9.3% | 10.3% | 9.5% | 13.1% | 12.8% |
| Gross Margin | - | 47.2% | 47.4% | 45.3% | 45.9% | 48.4% |
| Debt/Equity | 0.91 | 0.76 | 0.72 | 0.76 | 0.80 | 0.81 |
| Dividends/Share | $4.27 | $5.52 | $3.78 | $5.86 | $3.00 | $2.60 |
| Operating Income | 5.7B | 5.2B | 5.6B | 4.9B | 6.2B | 5.9B |
| Operating Margin | 6.2% | 5.9% | 6.3% | 5.4% | 6.7% | 7.0% |
| ROE | 15.0% | 14.7% | 16.1% | 15.5% | 15.6% | 24.6% |
| Shares Outstanding | 318M | 243M | 251M | 256M | 267M | 268M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 45.6B | 47.5B | 50.4B | 60.3B | 65.5B | 69.7B | 69.2B | 84.0B | 93.5B | 90.2B | 87.7B | 87.9B | 91.9B |
| Gross Margin | 49.5% | 46.0% | 48.9% | 77.4% | 76.9% | 76.1% | 45.8% | 48.4% | 45.9% | 45.3% | 47.4% | 47.2% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 16.2B | 17.1B | 18.6B | 22.0B | 23.8B | 24.8B | 25.0B | 30.2B | 32.1B | 31.0B | 31.0B | 31.2B | 33.0B |
| EBIT | 3.8B | 1.9B | 3.1B | 4.6B | 4.3B | 4.5B | 2.4B | 5.9B | 6.2B | 4.9B | 5.6B | 5.2B | 5.7B |
| Op. Margin | 8.4% | 3.9% | 6.1% | 7.6% | 6.5% | 6.4% | 3.5% | 7.0% | 6.7% | 5.4% | 6.3% | 5.9% | 6.2% |
| Net Income | 2.3B | 1.0B | 1.8B | 3.0B | 4.6B | 539M | 1.3B | 5.2B | 3.8B | 4.0B | 4.3B | 4.1B | 4.5B |
| Net Margin | 5.1% | 2.2% | 3.6% | 5.0% | 7.0% | 0.8% | 1.9% | 6.2% | 4.1% | 4.4% | 4.9% | 4.6% | 4.9% |
| Non-Recurring | 0 | 276M | 76M | 103M | 714M | 8.0M | 358M | 0 | 0 | 36M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 15.0% | 6.3% | 9.6% | 11.7% | 14.0% | 11.8% | 5.5% | 12.8% | 13.1% | 9.5% | 10.3% | 9.3% | 8.8% |
| ROE | 14.2% | 6.9% | 12.6% | 20.0% | 25.7% | 2.9% | 7.1% | 24.6% | 15.6% | 15.5% | 16.1% | 14.7% | 15.0% |
| ROA | 7.0% | 3.0% | 4.4% | 6.3% | 9.1% | 1.0% | 2.0% | 6.7% | 4.5% | 4.6% | 5.0% | 4.7% | 4.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 4.3B | 5.4B | 5.7B | 4.9B | 4.7B | 5.6B | 5.1B | 10.1B | 9.8B | 8.8B | 8.3B | 7.0B | 8.2B |
| Free Cash Flow | 731M | 1.0B | 890M | -186M | -989M | 123M | -771M | 4.3B | 3.1B | 2.7B | 3.1B | 3.0B | 4.4B |
| Owner Earnings | 1.6B | 2.6B | 2.9B | 1.8B | 1.4B | 2.1B | 1.3B | 6.1B | 5.7B | 4.5B | 3.9B | 2.6B | 3.7B |
| CapEx | 3.5B | 4.3B | 4.8B | 5.1B | 5.7B | 5.5B | 5.9B | 5.9B | 6.8B | 6.2B | 5.2B | 4.1B | 3.8B |
| Maint. CapEx | 2.6B | 2.6B | 2.6B | 3.0B | 3.1B | 3.4B | 3.6B | 3.8B | 4.0B | 4.2B | 4.3B | 4.3B | 4.3B |
| Growth CapEx | 946M | 1.7B | 2.2B | 2.1B | 2.6B | 2.1B | 2.3B | 2.1B | 2.8B | 2.0B | 889M | 0 | 0 |
| D&A | 2.6B | 2.6B | 2.6B | 3.0B | 3.1B | 3.4B | 3.6B | 3.8B | 4.0B | 4.2B | 4.3B | 4.3B | 4.3B |
| CapEx/OCF | 82.9% | 81.0% | 84.4% | 103.8% | 121.2% | 97.8% | 115.1% | 58.1% | 68.8% | 69.8% | 62.3% | 57.6% | 46.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 187M | 227M | 277M | 426M | 535M | 683M | 679M | 686M | 793M | 1.2B | 1.3B | 1.3B | 1.4B |
| Dividend Yield | 0.6% | 0.6% | 0.7% | 1.0% | 1.0% | 1.4% | 2.0% | 1.2% | 1.3% | 2.4% | 2.1% | 2.1% | 1.4% |
| Share Buybacks | 4.9B | 1.3B | 2.7B | 509M | 1.0B | 1.5B | 3.0M | 0 | 2.2B | 1.5B | 2.5B | 3.0B | 1.3B |
| Buyback Yield | 12.9% | 2.9% | 6.9% | 1.1% | 1.7% | 4.0% | 0.0% | N/A | 4.2% | 2.8% | 4.2% | 5.8% | 1.3% |
| Stock-Based Comp | 117M | 133M | 144M | 154M | 167M | 174M | 168M | 200M | 190M | 182M | 163M | 154M | 174M |
| Debt Repayment | 254M | 5.0M | 41M | 82M | 38M | 1.4B | 2.5B | 6.3B | 161M | 152M | 147M | 157M | 157M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.8B | 3.5B | 10.2B | 10.9B | 14.6B | 16.2B | 16.7B | 12.5B | 13.0B | 13.0B | 13.3B | 15.8B | 19.2B |
| Cash & Equiv. | 2.9B | 3.8B | 3.5B | 4.0B | 3.3B | 2.3B | 4.9B | 7.1B | 6.9B | 6.9B | 6.5B | 5.5B | 8.0B |
| Long-Term Debt | 4.7B | 7.2B | 13.7B | 14.9B | 16.5B | 17.5B | 21.5B | 19.4B | 19.8B | 19.8B | 19.8B | 19.9B | 24.8B |
| Debt/Equity | 0.31 | 0.48 | 1.00 | 0.93 | 0.92 | 1.04 | 1.18 | 0.81 | 0.80 | 0.76 | 0.72 | 0.76 | 0.91 |
| Interest Coverage | 23.8 | 7.9 | 9.2 | 8.9 | 7.7 | 7.6 | 3.6 | 7.4 | 9.1 | 7.1 | 7.5 | 6.6 | 6.6 |
| Equity | 15.3B | 15.0B | 13.8B | 16.1B | 19.4B | 17.8B | 18.3B | 24.2B | 24.9B | 26.1B | 27.6B | 28.1B | 29.8B |
| Total Assets | 33.1B | 36.5B | 46.0B | 48.6B | 52.3B | 54.4B | 73.5B | 82.8B | 86.0B | 87.1B | 87.0B | 87.6B | 94.7B |
| Total Liabilities | 17.8B | 21.5B | 32.2B | 32.5B | 32.9B | 36.6B | 55.2B | 58.6B | 61.1B | 61.1B | 59.4B | 59.6B | -2.1B |
| Intangibles | 57M | 207M | 1.0B | 529M | 480M | 416M | 322M | 322M | 301M | 234M | 181M | 205M | 205M |
| Retained Earnings | 16.2B | 16.9B | 18.4B | 20.8B | 24.8B | 24.6B | 25.2B | 29.8B | 32.8B | 35.3B | 38.6B | 41.4B | 42.9B |
| Working Capital | 4.4B | 4.4B | 4.0B | 4.7B | 3.7B | 4.1B | 6.0B | 6.9B | 6.1B | 5.0B | 4.9B | 3.0B | 8.2B |
| Current Assets | 9.7B | 10.3B | 12.0B | 12.6B | 13.3B | 13.1B | 16.4B | 20.6B | 20.4B | 18.6B | 18.2B | 18.4B | 25.5B |
| Current Liabilities | 5.3B | 6.0B | 8.0B | 7.9B | 9.6B | 9.0B | 10.3B | 13.7B | 14.3B | 13.6B | 13.4B | 15.4B | 17.3B |
| Per Share Data | |||||||||||||
| EPS | 7.48 | 3.65 | 6.51 | 11.07 | 16.79 | 2.03 | 4.90 | 19.45 | 14.33 | 15.48 | 17.21 | 16.81 | 14.08 |
| Owner EPS | 5.03 | 9.13 | 10.50 | 6.59 | 5.19 | 7.86 | 5.01 | 22.89 | 21.28 | 17.53 | 15.37 | 10.77 | 11.56 |
| Book Value | 49.26 | 52.22 | 49.36 | 59.45 | 71.40 | 66.88 | 69.82 | 90.05 | 93.58 | 101.83 | 109.75 | 115.47 | 93.72 |
| Cash Flow/Share | 13.75 | 18.69 | 20.44 | 18.23 | 17.19 | 21.14 | 19.45 | 37.76 | 36.89 | 34.54 | 33.08 | 28.94 | 27.69 |
| Dividends/Share | 0.60 | 0.80 | 1.00 | 1.60 | 2.00 | 2.60 | 2.60 | 2.60 | 3.00 | 5.86 | 3.78 | 5.52 | 4.27 |
| Shares Out. | 310.2M | 287.1M | 279.3M | 270.4M | 271.9M | 265.5M | 262.0M | 268.4M | 266.5M | 256.2M | 251.3M | 243.1M | 318.0M |
| Valuation | |||||||||||||
| P/E Ratio | 16.3 | 40.9 | 21.7 | 15.2 | 13.1 | 69.0 | 24.1 | 14.7 | 14.1 | 13.7 | 13.9 | 12.7 | 22.4 |
| P/FCF | 51.6 | 42.1 | 44.3 | N/A | N/A | 302.4 | N/A | 18.1 | 17.6 | 20.2 | 19.1 | 17.4 | 22.9 |
| EV/EBIT | N/A | N/A | 16.1 | 12.3 | 17.1 | 10.2 | 18.3 | 14.9 | 10.7 | 13.8 | 13.2 | 13.2 | 20.9 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | 2.1 | 1.7 | 3.2 | 2.2 | 2.1 | 2.2 | 1.8 | 3.4 |
| Price/Sales | 0.7 | 0.8 | 0.7 | 0.7 | 0.8 | 0.7 | 0.5 | 0.7 | 0.6 | 0.5 | 0.7 | 0.7 | 1.1 |
| FCF Yield | 1.9% | 2.4% | 2.3% | -0.4% | -1.7% | 0.3% | -2.5% | 5.5% | 5.7% | 4.9% | 5.2% | 5.7% | 4.4% |
| Market Cap | 37.7B | 42.9B | 39.4B | 45.5B | 59.7B | 37.3B | 31.0B | 77.1B | 54.0B | 54.2B | 60.1B | 51.9B | 100.2B |
| Avg. Price | 105.34 | 139.56 | 133.22 | 154.69 | 201.46 | 184.55 | 131.90 | 220.27 | 226.13 | 188.28 | 242.54 | 258.15 | 314.96 |
| Year-End Price | 121.70 | 149.27 | 141.13 | 168.20 | 219.71 | 140.10 | 117.96 | 286.71 | 202.43 | 211.31 | 238.63 | 213.29 | 314.96 |
FEDEX CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
FEDEX CORP trades at 17.4x trailing earnings, compared to its 15-year median P/E of 14.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.0x vs a median of 18.6x. The company's 5-year average ROIC is 11.0% with a gross margin of 46.8%. Total shareholder yield (dividends + buybacks) is 2.7%. At current prices, the estimated annualized return to fair value is +30.0%.
FEDEX CORP (FDX) has a net profit margin of 4.6%. This is a modest margin.
FEDEX CORP (FDX) generated $3.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FEDEX CORP (FDX) has a debt-to-equity ratio of 0.76. This indicates moderate leverage.
FEDEX CORP (FDX) reported earnings per share (EPS) of $16.81 in its most recent fiscal year.
FEDEX CORP (FDX) has a return on equity (ROE) of 14.7%. This indicates moderate shareholder returns.
FEDEX CORP (FDX) has a 5-year average gross margin of 46.8%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for FEDEX CORP (FDX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FEDEX CORP (FDX) has a book value per share of $115.47, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued strong execution of its commercial strategy focused on premium, higher-margin verticals and revenue quality, with sustained pricing discipline and yield growth offsetting volume pressures in lower-margin segments. The company anticipates structural cost reductions from Network 2.0 and DRIVE initiatives to drive margin expansion, with transformation-related savings exceeding initial targets and expected to reach approximately $2 billion cumulatively by end of 2027. FedEx expects robust free cash flow generation and disciplined capital allocation, targeting capital intensity of approximately 4% of revenue through 2029 while maintaining balanced deployment across dividends, share repurchases, and strategic investments. The separation of FedEx Freight, completed in June 2026, positions Federal Express as a focused express transportation company to pursue higher-growth opportunities in premium B2B and e-commerce segments, with management confident in achieving its calendar year 2029 financial targets.
Based on recent SEC filings and earnings calls, FEDEX CORP (FDX) has provided the following forward guidance: Adjusted earnings per diluted share (continuing operations): $16.90–$18.10 (Calendar year 2026); Revenue growth: approximately 11% (Calendar year 2026); Capital expenditures: approximately $3.9 billion (Calendar year 2026); Capital intensity: approximately 4% of revenue (Calendar year 2029).