Saturday 10 October 2026
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FedEx Corporation
FDX Industrials Integrated Freight & Logistics
FedEx Corporation’s revenue for fiscal 2026 (year ended May 2026) was $94.7 billion, up 7.73% from fiscal 2025. In the quarter to May 2026, revenue grew 12.5%, EPS fell 4.07%, free cash flow grew 62.2% and total debt rose 25.0%, each against the same quarter a year earlier. Member of the S&P 500.
291.71
0.02
−0.01%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to May
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 2027e | 2028e | 2029e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 147.37 | 121.63 | 111.02 | 71.47 | 174.33 | 114.36 | 140.64 | 188.92 | 156.57 | 231.87 |
Analyst estimates 2027–2029 Powerpack |
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| High | 205.57 | 221.32 | 160.61 | 246.30 | 257.78 | 214.98 | 230.08 | 252.89 | 239.32 | 345.37 | |||||
| People | |||||||||||||||
| People | Employees | 169,000 | 227,000 | 239,000 | 245,000 | 289,000 | 249,000 | 529,000 | 430,000 | 440,000 | 530,000 | ||||
| Revenue/emp, $m | 0.36 | 0.29 | 0.29 | 0.28 | 0.29 | 0.38 | 0.17 | 0.20 | 0.20 | 0.18 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 60,319 | 65,450 | 69,693 | 69,217 | 83,959 | 93,512 | 90,155 | 87,693 | 87,926 | 94,720 | ||||
| Gross margin, % | 72.81 | 71.77 | 70.52 | 70.21 | 70.75 | 68.74 | 69.28 | 70.77 | 70.95 | 70.79 | |||||
| EBT | 4,579 | 4,353 | 655 | 1,669 | 6,674 | 4,896 | 5,363 | 5,836 | 5,441 | 5,793 | |||||
| EBT margin, % | 7.59 | 6.65 | 0.94 | 2.41 | 7.95 | 5.24 | 5.95 | 6.66 | 6.19 | 6.12 | |||||
| Net income | 2,997 | 4,572 | 540 | 1,286 | 5,231 | 3,826 | 3,972 | 4,331 | 4,092 | 4,433 | |||||
| Depreciation | 2,995 | 3,475 | 3,353 | 4,050 | 3,793 | 3,970 | 4,293 | 4,444 | 4,285 | 4,392 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 226.76 | 245.13 | 266.00 | 265.20 | 318.03 | 355.56 | 354.94 | 353.60 | 364.84 | 399.66 | ||||
| Earnings | 11.27 | 17.12 | 2.06 | 4.93 | 19.81 | 14.55 | 15.64 | 17.46 | 16.98 | 18.70 | |||||
| Cash flow | 18.53 | 17.51 | 21.42 | 19.53 | 38.39 | 37.38 | 34.83 | 33.52 | 29.20 | 37.66 | |||||
| Capex | (18.73) | (21.05) | (20.64) | (22.40) | (21.90) | (25.36) | (23.98) | (20.41) | (16.35) | (15.66) | |||||
| Free cash flow | (0.19) | (3.55) | 0.79 | (2.87) | 16.49 | 12.03 | 10.86 | 13.10 | 12.85 | 22.00 | |||||
| Book value | 60.42 | 72.72 | 67.77 | 70.10 | 91.55 | 94.83 | 102.71 | 111.22 | 116.49 | 133.53 | |||||
| Shares, m | 266 | 267 | 262 | 261 | 264 | 263 | 254 | 248 | 241 | 237 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 13.96 | 11.81 | 62.44 | 21.17 | 12.75 | 12.47 | 11.27 | 11.77 | 10.34 | 18.17 | ||||
| P/S | 0.69 | 0.82 | 0.47 | 0.39 | 0.79 | 0.51 | 0.49 | 0.58 | 0.48 | 0.84 | |||||
| P/B | 2.59 | 2.76 | 1.83 | 1.49 | 2.74 | 1.91 | 1.71 | 1.84 | 1.51 | 2.52 | |||||
| EV/Sales | 0.87 | 1.02 | 0.69 | 0.64 | 0.95 | 0.65 | 0.65 | 0.74 | 0.65 | 0.97 | |||||
| EV/FCF | 17,503.73 | (32.52) | (244.05) | (22.92) | 11.80 | 14.75 | 21.13 | 13.65 | 14.17 | 12.23 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 4,930 | 4,674 | 5,613 | 5,097 | 10,135 | 9,832 | 8,848 | 8,312 | 7,036 | 8,925 | ||||
| Capex | (4,981) | (5,621) | (5,407) | (5,846) | (5,782) | (6,669) | (6,090) | (5,062) | (3,940) | (3,712) | |||||
| Free cash flow | (51) | (947) | 206 | (749) | 4,353 | 3,163 | 2,758 | 3,250 | 3,096 | 5,213 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 4,710 | 3,714 | 4,073 | 6,039 | 6,920 | 6,091 | 5,024 | 4,852 | 2,975 | 8,991 | ||||
| Total debt | 14,931 | 16,585 | 17,581 | 22,003 | 20,879 | 20,264 | 20,579 | 20,203 | 20,579 | 25,714 | |||||
| Net debt | 10,962 | 13,320 | 15,262 | 17,122 | 13,792 | 13,367 | 13,723 | 13,702 | 15,077 | 12,403 | |||||
| Shareholders’ equity | 16,073 | 19,416 | 17,757 | 18,295 | 24,168 | 24,939 | 26,088 | 27,582 | 28,074 | 31,647 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 6.34 | 9.06 | 1.01 | 2.01 | 6.69 | 4.53 | 4.59 | 4.97 | 4.69 | 4.75 | ||||
| ROIC | 10.56 | 8.16 | 8.45 | 4.27 | 9.64 | 10.19 | 7.71 | 8.42 | 7.56 | 7.75 | |||||
| ROE | 20.08 | 25.77 | 2.91 | 7.13 | 24.64 | 15.58 | 15.57 | 16.14 | 14.70 | 14.85 | |||||
Negative figures in brackets.
Fiscal years to May 2026 · latest quarter May 2026
Charts ten years each
FedEx Corporation vs peers in Integrated Freight & Logistics (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| UPS United Parcel Service, Inc. | $80.1B | 17.5× | 15.3× | +7.60% (above 0%: growing) | −52.98% (below 0%: shrinking) | +137.65% (above 0%: growing) | 75.16% | 4.07% | Compare |
| FDX FedEx Corporation | $69.0B | 15.7× | 15.5× | +12.54% (above 0%: growing) | −4.07% (below 0%: shrinking) | +62.20% (above 0%: growing) | 69.62% | 6.20% | |
| CHRW C.H. Robinson Worldwide, Inc. | $25.3B | 26.8× | 30.2× | +19.28% (above 0%: growing) | +24.41% (above 0%: growing) | −91.47% (below 0%: shrinking) | 14.96% | 5.18% | Compare |
| EXPD Expeditors International of Washington, Inc. | $25.2B | 28.0× | 23.6× | +32.07% (above 0%: growing) | +50.37% (above 0%: growing) | +2.03% (above 0%: growing) | 30.99% | 9.98% | Compare |
| JBHT J.B. Hunt Transport Services, Inc. | $21.5B | 32.5× | 38.8× | +19.37% (above 0%: growing) | +45.80% (above 0%: growing) | +29.82% (above 0%: growing) | 41.31% | 7.42% | Compare |
| ZTO ZTO Express (Cayman) Inc. | $10.9B | 10.6× | 11.3× | +29.83% (above 0%: growing) | +73.53% (above 0%: growing) | +121.35% (above 0%: growing) | 25.66% | 22.19% | Compare |
| LSTR Landstar System, Inc. | $5.8B | 43.8× | 38.6× | +18.09% (above 0%: growing) | +20.00% (above 0%: growing) | −950.32% (below 0%: shrinking) | 21.71% | 4.62% | Compare |
| GXO GXO Logistics, Inc. | $5.3B | 40.5× | 26.3× | +4.30% (above 0%: growing) | −4.35% (below 0%: shrinking) | +127.91% (above 0%: growing) | 14.76% | 2.24% | Compare |
| PBI Pitney Bowes Inc. | $2.3B | 13.4× | 11.1× | −2.25% (below 0%: shrinking) | +117.65% (above 0%: growing) | +37.11% (above 0%: growing) | 53.66% | 23.66% | Compare |
| Median of peers | $16.2B | 27.4× | 25.0× | +18.69% | +35.11% | +33.47% | 28.33% | 6.30% |
FDX metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
FedEx Corporation (FDX) key facts
- Strength: FedEx Corporation’s revenue for fiscal 2026 (year ended May 2026) was $94.7 billion, up 7.73% from fiscal 2025.
- FedEx Corporation (FDX) is an Integrated Freight & Logistics company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 9, 2026, FDX traded at $291.71, a market capitalization of $69.0 billion.
- FedEx Corporation pays an annual dividend of $5.34 per share, a yield of 1.83%, with a payout ratio of 28.8%.
- Return on equity was 14.9% and debt-to-equity 0.81.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.58 (grey zone) for fiscal 2026.