FedEx CorporationFDX
NYSE•Industrials•Integrated Freight & Logistics
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.
FedEx Corporation (FDX) reported trailing twelve months revenue of $91.93B as of February 2026, a 4.7% increase year-over-year. Quarterly revenue reached $24.00B, reflecting continued top-line momentum.
FedEx Corporation generated $4.48B in TTM net income, with quarterly EBITDA of $2.46B. The operating margin contracted from 5.8% to 5.6%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (5.6%) and net margin (4.4%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 4.1% a year ago, signaling stronger bottom-line efficiency.
FDX trades at a P/E of 16.4x (in line with broad market averages) and a P/S of 0.8x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company generated $1.04B in free cash flow over the trailing twelve months, a 2.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $94.73B in total assets with $22.83B in long-term debt against $29.80B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~5.9% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~15.0% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~6.2% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.3% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation