FedEx (FDX) FY2018 results: revenue $65.5 billion, up 8.5% on the year
FedEx Corp. (FDX) reported revenue of $65.5 billion for fiscal 2018, the year ended 31 May 2018, up 8.5% on the year before. Net income was $4.6 billion, up 52.6%, and diluted earnings per share $16.79. The figures are the company's own, from the 10-K it filed with the SEC on 16 July 2018.
Revenue
$65.5 billion
+8.5% on the year
FY2011FY2018
Operating margin
6.5%
7.6% a year earlier
FY2011FY2018
Net income
$4.6 billion
+52.6% on the year
FY2011FY2018
Diluted EPS
$16.79
+51.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
65,450
60,319
50,365
+8.5%
Cost of revenue
15,101
13,630
n/a
+10.8%
Gross profit
50,349
46,689
n/a
+7.8%
Gross margin
76.9%
77.4%
n/a
Operating income
4,272
4,566
3,077
-6.4%
Operating margin
6.5%
7.6%
6.1%
Interest expense
558
512
336
+9.0%
Pre-tax income
4,353
4,579
2,740
-4.9%
Income tax
-219
1,582
920
Effective tax rate
-5.0%
34.5%
33.6%
Net income
4,572
2,997
1,820
+52.6%
Net margin
7.0%
5.0%
3.6%
Diluted EPS
$16.79
$11.07
$6.51
+51.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
4,674
4,930
5,708
-5.2%
Capital expenditure
5,663
5,116
4,818
+10.7%
Free cash flow
-989
-186
890
Free cash flow margin
-1.5%
-0.3%
1.8%
Cash from investing
-5,677
-4,981
-9,446
Cash from financing
227
528
3,611
-57.0%
Depreciation and amortisation
3,095
2,995
2,631
+3.3%
Share-based compensation
167
154
144
+8.4%
Buybacks
1,017
509
2,722
+99.8%
Dividends paid
535
426
277
+25.6%
Dividend per share
$2.00
$1.60
$1.00
+25.0%
Diluted shares, weighted
272m
270m
279m
+0.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
19,416
16,073
13,784
+20.8%
Debt
16,510
14,878
13,762
+11.0%
Other liabilities
16,404
17,601
18,413
-6.8%
Total liabilities and equity
52,330
48,552
45,959
+7.8%
Fixed assets
28,154
25,981
24,284
+8.4%
Goodwill
6,973
7,154
6,747
-2.5%
Intangible assets
480
529
1,008
-9.3%
Cash and equivalents
3,265
3,969
3,534
-17.7%
Receivables
8,481
7,599
7,252
+11.6%
Other assets
4,977
3,320
3,134
+49.9%
Total assets
52,330
48,552
45,959
+7.8%
10-K for the year ended 31 May 2018, filed 16 July 2018: the filing.