Income StatementBalance SheetCash FlowSegments
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FedEx Business Segments

Business, geographic, and product segment breakdowns

FedEx generates $91.9B in annual revenue across 2 key segments: FedEx Freight segment ($8.7B), and Total Federal Express segment ($79.7B). The company-wide operating margin is 6.21%. Based on the Q1 2026 filing.

FedEx Freight segment (TTM)$8.7BTotal Federal Express segment (TTM)$79.7B
Latest FilingQ1 2026
Report Date2026-03-19
Market Cap$94.1B
P/E Ratio20.98
ROE15.87%

Products & Services

Number of aircraft to be permanently retired from service

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Airbus A300-600 aircraft1.751.751.75———
Boeing 757-200 aircraft0.500.500.50———
Boeing MD-11F aircraft0.750.750.75———

Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment, Period Increase (Decrease)

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Boeing MD-11F aircraft-$4.8M-$4.8M-$4.8M———

REVENUE

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
U.S. ground$8.3B$9.0B$8.6B$8.7B$9.2B$9.9B
U.S. priority$2.6B$2.6B$2.7B$2.8B$2.8B$2.9B
International priority$2.2B$2.1B$2.2B$2.3B$2.4B$2.4B
U.S. deferred$1.2B$1.4B$1.3B$1.3B$1.4B$1.6B
International economy$1.6B$1.5B$1.4B$1.4B$1.5B$1.5B
International domestic$1.2B$1.1B$1.1B$1.1B$1.3B$1.2B
Other$262.0M$216.0M$217.0M$249.0M$367.0M$339.0M
U.S.$383.0M$286.0M$298.0M$303.0M$304.0M$297.0M

Revenue

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
International priority$640.0M$551.0M$603.0M$595.0M$617.0M$627.0M
International economy$529.0M$470.0M$513.0M$528.0M$582.0M$538.0M

Geographic

REVENUE

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
U.S. Plans$15.4B$16.1B$15.9B$16.0B$16.7B$17.4B
International$6.6B$6.0B$6.3B$6.3B$6.7B$6.6B

Business Segments

Loss on legal matter

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Federal Express For International Regulatory And Legacy FedEx Ground$22.0M$22.0M$22.0M———

Asset impairment charges

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Federal Express segment$5.3M$5.3M$5.3M———
FedEx Freight
Segment$0.0$0.0$0.0———

Business optimization and realignment costs

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Federal Express segment$96.0M$96.0M$96.0M———
FedEx Freight
Segment$0.0$0.0$0.0———

Goodwill

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Federal Express segment——$5.9B———
FedEx Freight
Segment——$638.0M———

Goodwill acquired

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Federal Express segment$9.5M$9.5M$9.5M———
FedEx Freight
Segment$0.0$0.0$0.0———

Goodwill, Impaired, Accumulated Impairment Loss

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Federal Express segment——$0.0———
FedEx Freight
Segment——$133.0M———

Other

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$2.9B$3.0B$3.1B$3.1B$3.3B$3.3B
FedEx Freight
Segment$166.0M$163.0M$166.0M$172.0M$176.0M$190.0M
Federal Express segment$35.5M$35.5M$35.5M———

CapEx

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$598.0M$844.0M$1.4B$568.0M$640.0M$782.0M
FedEx Freight segment$195.0M$129.0M$78.0M$32.0M$100.0M$152.0M

Costs and Expenses

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$17.8B$17.9B$17.4B$18.0B$18.9B$19.6B
FedEx Freight segment$1.9B$1.8B$1.8B$1.9B$2.0B$2.0B

Debt issuance costs

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
FedEx Freight
Segment$4.5M$4.5M$4.5M———

D&A

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$918.0M$926.0M$943.0M$954.0M$931.0M$971.0M
FedEx Freight segment$112.0M$113.0M$81.0M$110.0M$113.0M$112.0M

Fuel

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$835.0M$777.0M$750.0M$760.0M$779.0M$751.0M
FedEx Freight segment$111.0M$112.0M$113.0M$113.0M$110.0M$104.0M

Intercompany allocations

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment-$205.0M-$199.0M-$200.0M-$233.0M-$229.0M-$206.0M
FedEx Freight segment$143.0M$142.0M$140.0M$162.0M$153.0M$134.0M

Maintenance and repairs

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$715.0M$672.0M$693.0M$737.0M$773.0M$670.0M
FedEx Freight segment$88.0M$85.0M$77.0M$81.0M$89.0M$73.0M

Operating Income (Loss)

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$1.1B$1.3B$1.6B$1.1B$1.6B$1.6B
FedEx Freight segment$312.0M$261.0M$477.0M$360.0M$90.0M$8.0M

Purchased transportation

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$5.1B$5.2B$4.9B$5.1B$5.5B$5.7B
FedEx Freight segment$197.0M$202.0M$205.0M$201.0M$197.0M$193.0M

Rentals and landing fees

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$987.0M$1.0B$964.0M$1.0B$1.0B$1.1B
FedEx Freight segment$72.0M$72.0M$72.0M$74.0M$76.0M$74.0M

REVENUE

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$18.8B$19.2B$19.0B$19.1B$20.4B$21.2B
FedEx Freight segment$2.2B$2.1B$2.3B$2.3B$2.1B$2.0B

Salaries and employee benefits

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$6.3B$6.4B$6.2B$6.5B$6.8B$7.2B
FedEx Freight segment$976.0M$939.0M$966.0M$975.0M$983.0M$977.0M

Separation and other costs

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
FedEx Freight segment$0.0$0.0—$9.0M$152.0M$126.0M
Total Federal Express segment$0.0$0.0—$5.0M$18.0M$37.0M

Business optimization costs

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Total Federal Express segment$206.0M$92.0M—$21.0M$7.0M$67.0M