What is FedEx's operating income?

FedEx (FDX) reported operating income of $1.55B in Q1 2026.

How has FedEx's operating income changed year-over-year?

FedEx's operating income decreased by 13.5% year-over-year, from $1.79B to $1.55B.

What is the long-term trend for FedEx's operating income?

Over 5 years (2021 to 2026), FedEx's operating income has grown at a -1.4% compound annual growth rate (CAGR), from $5.86B to $5.46B.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

FedEx FDX Operating Income

Operating Income at other companies

Old Dominion Freight LineODFL

$317.34M-6.1%

ArcBestARCB

$3.43M-48.3%

Forward AirFWRD

$20.44M+329%

AmazonAMZN

$23.85B+29.6%

United Parcel Service, Inc.UPS

$1.27B-23.9%

XPO

XPOXPO

$174M+15.2%

Segments

By segment

See full

Total Federal Express segment$1.65B+4.1%

FedEx Freight segment$158M-66.9%

Other financials

Income statement

See full

Revenue$25.0B+12.5%

Net income$1.6B-3.0%

EPS (diluted)$6.60-3.2%

Balance sheet

See full

Cash & equivalents$13.3B+142%

Total debt$23.3B-38.9%

Total equity$31.6B+12.7%

Total assets$107.19B+22.3%

Cash flow

See full

Operating cash flow$3.3B+29.6%

CapEx$1.5B+0.1%

Free cash flow$1.8B+71.2%

Valuation

See full

Market cap$78.61B+45.1%

Enterprise value$88.59B+2.1%

P/E17.7×+4.5×

P/S0.8×+0.2×

Profitability

See full

Gross margin76%—

Operating margin5.8%-0.2pp

Net margin4.7%0.0pp

FCF margin5.4%+2.0pp

Returns & leverage

See full

Return on equity14.8%+0.1pp

Debt / equity0.7×-0.6×

Current ratio1.5×+0.3×

Where this comes from

Reported directly by FedEx in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The official record: FedEx’s 8-K, filed June 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FedEx's operating income?: FedEx (FDX) reported operating income of $1.55B in Q1 2026.
How has FedEx's operating income changed year-over-year?: FedEx's operating income decreased by 13.5% year-over-year, from $1.79B to $1.55B.
What is the long-term trend for FedEx's operating income?: Over 5 years (2021 to 2026), FedEx's operating income has grown at a -1.4% compound annual growth rate (CAGR), from $5.86B to $5.46B.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.