What are FedEx's profit margins?

FedEx (FDX) runs a 76.0% gross margin and a 6.2% operating margin, with a 4.9% net margin.

Where do FedEx's ratios come from?

Every ratio is computed from FedEx's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

FedEx FDX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q3 '26	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25
Profitability
Operating margin	24.4%+0.9pp	23.9%-0.3pp	23.3%-1.3pp	23.1%-1.4pp	23.5%-0.1pp
Net margin	19%+0.5pp	18.6%-0.4pp	18.2%-1.2pp	18.2%-1.4pp	18.5%-0.5pp
EBITDA margin	43.6%+0.4pp	43.2%-0.5pp	42.8%-1.2pp	42.7%-1.1pp	43.2%+0.5pp
Free cash flow margin	17.1%+3.6pp	16.2%+2.8pp	14.5%-0.6pp	13.3%-2.4pp	13.5%-1.7pp
Returns
Return on equity	61.5%+0.9pp	60.4%-2.7pp	59.1%-6.2pp	59.1%-7.2pp	60.6%-5.2pp
Return on assets	19.3%+0.7pp	18.9%-0.3pp	18.5%-1.2pp	18.4%-1.5pp	18.7%-0.8pp
Return on invested capital	27.2%+1.2pp	26.5%-0.1pp	25.7%-1.5pp	25.5%-1.9pp	26%-0.8pp
Efficiency
Asset turnover	4.1×0.0×	4.1×0.0×	4.1×0.0×	4×0.0×	4×0.0×
Liquidity
Current ratio	5.2×+0.1×	5×-0.2×	4.9×-0.4×	4.9×-0.4×	5.1×-0.3×
Quick ratio	5.2×+0.1×	5×-0.2×	4.9×-0.4×	4.9×-0.4×	5.1×-0.3×
Cash ratio	1.6×0.0×	1.5×-0.2×	1.5×-0.3×	1.5×-0.4×	1.6×-0.3×
Leverage
Debt-to-equity	5.6×0.0×	5.5×-0.1×	5.6×-0.1×	5.6×-0.1×	5.6×-0.2×
Debt-to-assets	1.8×0.0×	1.7×0.0×	1.8×0.0×	1.8×0.0×	1.8×0.0×
Net debt / EBITDA	13.6×-0.1×	13.5×+0.1×	13.9×+0.5×	13.9×+0.6×	13.7×0.0×
Interest coverage	29.7×+1.9×	28.4×+0.7×	27.2×-0.8×	27×-1.2×	27.8×+0.1×
Valuation
Market capitalization	$263.22B-3.6%	$235.54B-13.4%	$244.44B-7.0%	$263.11B+3.0%	$272.95B+10.2%
Enterprise value	$395.61B-1.6%	$365.2B-8.9%	$374.7B-4.3%	$393.07B+2.5%	$401.97B+6.8%
Price / earnings	61.4×-6.3×	57.3×-8.4×	61.3×-0.6×	66.1×+6.6×	67.7×+8.8×
Price / sales	2.9×-0.2×	2.7×-0.4×	2.8×-0.2×	3×+0.1×	3.1×+0.3×
Price / book	9.2×-0.9×	8.5×-1.6×	9×-0.7×	9.7×+0.2×	10.1×+0.8×
EV / EBITDA	40.4×-2.1×	38.1×-3.8×	39.9×-0.7×	42×+2.2×	42.6×+2.7×
EV / sales	4.4×-0.2×	4.1×-0.5×	4.3×-0.2×	4.5×+0.1×	4.6×+0.3×
Free cash flow yield	23.9%+6.3pp	24.5%+6.9pp	21.4%+1.1pp	18.2%-3.5pp	17.6%-4.0pp
Earnings yield	26.9%+3.0pp	28.2%+3.4pp	26.8%+0.7pp	24.7%-2.2pp	23.9%-3.4pp
Dividend yield	8.6%+1.0pp	9.2%+1.7pp	8.8%+1.2pp	8.1%+0.4pp	7.6%-0.2pp

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Questions, answered.

What are FedEx's profit margins?: FedEx (FDX) runs a 76.0% gross margin and a 6.2% operating margin, with a 4.9% net margin.
Where do FedEx's ratios come from?: Every ratio is computed from FedEx's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.