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FedEx FDX Net margin

Net margin at other companies

Old Dominion Freight Line logo
Old Dominion Freight LineODFL
18.5%-1.6pp
Amazon logo
AmazonAMZN
10.6%+0.5pp
United Parcel Service, Inc. logo
United Parcel Service, Inc.UPS
5.9%-0.5pp
XPO
XPOXPO
4.2%-0.7pp
Expeditors International of Washington logo
Expeditors International of WashingtonEXPD
7.5%-0.2pp
JB Hunt Transport Services logo
JB Hunt Transport ServicesJBHT
5.1%+0.5pp

Other financials

Income statement

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Revenue$24.0B+8.3%
Operating income$1.3B+4.3%
Net income$1.1B+16.2%
EPS (diluted)$4.41+17.3%

Balance sheet

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Cash & equivalents$8.0B+56.0%
Total debt$43.2B+14.9%
Total equity$29.8B+11.6%
Total assets$94.7B+11.4%

Cash flow

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Operating cash flow$2.0B-0.9%
CapEx$955.0M-4.2%
Free cash flow$1.0B+2.3%

Valuation

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Market cap$77.77B+43.7%
Enterprise value$112.96B+31.7%
P/E17.3×+3.5×
P/S0.9×+0.2×

Profitability

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Gross margin76%
Operating margin6.2%+0.5pp

Returns & leverage

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Return on equity15.9%+1.1pp
Debt / equity1.4×0.0×
Current ratio1.5×+0.2×

Where this comes from

Calculated from FedEx’s reported figures.

Based on trailing twelve months.

The official record: FedEx’s 10-Q, filed March 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FedEx's net margin?
FedEx (FDX) reported net margin of 4.9% in Q4 2025.
How has FedEx's net margin changed year-over-year?
FedEx's net margin increased by 9.3% year-over-year, from 4.5% to 4.9%.
What is the long-term trend for FedEx's net margin?
Over 4 years (2021 to 2025), FedEx's net margin has grown at a 3.5% compound annual growth rate (CAGR), from 15.9% to 18.2%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.