FedEx (FDX) FY2017 results: revenue $60.3 billion, up 19.8% on the year
FedEx Corp. (FDX) reported revenue of $60.3 billion for fiscal 2017, the year ended 31 May 2017, up 19.8% on the year before. Net income was $3.0 billion, up 64.7%, and diluted earnings per share $11.07. The figures are the company's own, from the 10-K it filed with the SEC on 17 July 2017.
Revenue
$60.3 billion
+19.8% on the year
FY2010FY2017
Operating margin
7.6%
6.1% a year earlier
FY2010FY2017
Net income
$3.0 billion
+64.7% on the year
FY2010FY2017
Diluted EPS
$11.07
+70.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
60,319
50,365
47,453
+19.8%
Cost of revenue
13,630
n/a
n/a
Gross profit
46,689
n/a
n/a
Gross margin
77.4%
n/a
n/a
Operating income
4,566
3,077
1,867
+48.4%
Operating margin
7.6%
6.1%
3.9%
Interest expense
512
336
235
+52.4%
Pre-tax income
4,579
2,740
1,627
+67.1%
Income tax
1,582
920
577
+72.0%
Effective tax rate
34.5%
33.6%
35.5%
Net income
2,997
1,820
1,050
+64.7%
Net margin
5.0%
3.6%
2.2%
Diluted EPS
$11.07
$6.51
$3.65
+70.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,930
5,708
5,366
-13.6%
Capital expenditure
5,116
4,818
4,347
+6.2%
Free cash flow
-186
890
1,019
Free cash flow margin
-0.3%
1.8%
2.1%
Cash from investing
-4,981
-9,446
-5,752
Cash from financing
528
3,611
1,349
-85.4%
Depreciation and amortisation
2,995
2,631
2,611
+13.8%
Share-based compensation
154
144
133
+6.9%
Buybacks
509
2,722
1,254
-81.3%
Dividends paid
426
277
227
+53.8%
Dividend per share
$1.60
$1.00
$0.80
+60.0%
Diluted shares, weighted
270m
279m
287m
-3.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
16,073
13,784
14,993
+16.6%
Debt
14,878
13,762
7,268
+8.1%
Other liabilities
17,601
18,413
14,208
-4.4%
Total liabilities and equity
48,552
45,959
36,469
+5.6%
Fixed assets
25,981
24,284
20,875
+7.0%
Goodwill
7,154
6,747
3,810
+6.0%
Intangible assets
529
1,008
207
-47.5%
Cash and equivalents
3,969
3,534
3,763
+12.3%
Receivables
7,599
7,252
5,719
+4.8%
Other assets
3,320
3,134
2,095
+5.9%
Total assets
48,552
45,959
36,469
+5.6%
10-K for the year ended 31 May 2017, filed 17 July 2017: the filing.