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FedEx FDX Operating margin

Operating margin at other companies

Old Dominion Freight Line logo
Old Dominion Freight LineODFL
25.8%+0.4pp
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ArcBestARCB
0.9%-4.5pp
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Forward AirFWRD
2.2%+1.1pp
Amazon logo
AmazonAMZN
12.1%+0.7pp
United Parcel Service, Inc. logo
United Parcel Service, Inc.UPS
7.3%-2.0pp
XPO
XPOXPO
8.8%+0.4pp

Other financials

Income statement

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Revenue$25.0B+12.5%
Operating income$1.6B-13.5%
Net income$1.6B-3.1%
EPS (diluted)$6.64-2.6%

Balance sheet

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Cash & equivalents$13.3B+142%
Total debt$42.8B+16.7%
Total equity$31.6B+12.7%
Total assets$98.9B+12.9%

Cash flow

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Operating cash flow$3.3B+29.6%
CapEx$1.5B+0.1%
Free cash flow$1.8B+71.2%

Valuation

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Market cap$72.73B+41.7%
Enterprise value$102.2B+23.9%
P/E16.4×+3.9×
P/S0.8×+0.2×

Profitability

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Gross margin76%
Net margin4.7%0.0pp
FCF margin5.4%+2.0pp

Returns & leverage

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Return on equity14.8%+0.1pp
Debt / equity1.4×0.0×
Current ratio1.5×+0.3×

Where this comes from

Calculated from FedEx’s reported figures.

Based on trailing twelve months.

The source filing: FedEx’s 10-K, filed July 20, 2026. Open the filing →

Filed
Jul 20, 2026, 4:14 PM EDT
Fiscal year
FY2026
Accession
0001048911-26-000105

FAQ

What is FedEx's operating margin?
FedEx (FDX) reported operating margin of 5.8% in Q1 2026.
How has FedEx's operating margin changed year-over-year?
FedEx's operating margin decreased by 2.8% year-over-year, from 5.9% to 5.8%.
What is the long-term trend for FedEx's operating margin?
Over 5 years (2021 to 2026), FedEx's operating margin has grown at a -3.7% compound annual growth rate (CAGR), from 7% to 5.8%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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