Operating Income
FedEx Operating Income decreased by 2.2% to $1.35B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 4.3%, from $1.29B to $1.35B. Over 4 years (FY 2021 to FY 2025), Operating Income shows a downward trend with a -2.9% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
Growth in operating income suggests that the core business is becoming more profitable and efficient.
Detailed definition
The profit realized from a business's own operations after deducting operating expenses like wages, depreciation, and co...
Peer comparison
This is a key metric for comparing the fundamental business performance of companies with different tax or debt structures.
operating_incomeHistorical Data
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.80B | $1.40B | $1.60B | $1.33B | $1.92B | $1.19B | $1.18B | $1.04B | $1.50B | $1.49B | $1.28B | $1.24B | $1.56B | $1.08B | $1.05B | $1.29B | $1.79B | $1.19B | $1.38B | $1.35B |
| QoQ Change | — | -22.2% | +14.2% | -17.0% | +45.1% | -38.1% | -1.3% | -11.4% | +44.2% | -1.2% | -14.1% | -2.6% | +25.1% | -30.5% | -2.6% | +22.8% | +38.8% | -33.9% | +16.2% | -2.2% |
| YoY Change | — | — | — | — | +7.1% | -14.8% | -26.4% | -21.4% | -21.9% | +24.7% | +8.5% | +19.3% | +3.5% | -27.3% | -17.6% | +3.9% | +15.3% | +9.8% | +31.0% | +4.3% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Federal Express | — | $953.00M | $1.05B | $1.29B | $1.59B | $1.14B | $1.55B | $1.57B |
| Fedex Freight | — | $439.00M | $312.00M | $261.00M | $477.00M | $360.00M | $90.00M | $8.00M |
| Fedex Express | $201.00M | — | — | — | — | — | — | — |
| Fedex Ground | $1.10B | — | — | — | — | — | — | — |
| Total | $1.56B | $1.08B | $1.05B | $1.29B | $1.79B | $1.19B | $1.38B | $1.35B |
Fedex Express, Fedex Ground were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Operating Income at Other Companies
Frequently Asked Questions
- What is FedEx's operating income?
- FedEx (FDX) reported operating income of $1.35B in Q4 2025.
- How has FedEx's operating income changed year-over-year?
- FedEx's operating income increased by 4.3% year-over-year, from $1.29B to $1.35B.
- What is the long-term trend for FedEx's operating income?
- Over 4 years (2021 to 2025), FedEx's operating income has grown at a -2.9% compound annual growth rate (CAGR), from $5.86B to $5.22B.
- What does operating income mean?
- The profit earned from core business activities, before accounting for interest and taxes.