FedEx (FDX) FY2019 results: revenue $69.7 billion, up 6.5% on the year
FedEx Corp. (FDX) reported revenue of $69.7 billion for fiscal 2019, the year ended 31 May 2019, up 6.5% on the year before. Net income was $540 million, down 88.2%, and diluted earnings per share $2.03. The figures are the company's own, from the 10-K it filed with the SEC on 16 July 2019.
Revenue
$69.7 billion
+6.5% on the year
FY2012FY2019
Operating margin
6.4%
6.5% a year earlier
FY2012FY2019
Net income
$540 million
-88.2% on the year
FY2012FY2019
Diluted EPS
$2.03
-87.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
69,693
65,450
60,319
+6.5%
Cost of revenue
16,654
15,101
13,630
+10.3%
Gross profit
53,039
50,349
46,689
+5.3%
Gross margin
76.1%
76.9%
77.4%
Operating income
4,466
4,272
4,566
+4.5%
Operating margin
6.4%
6.5%
7.6%
Interest expense
588
558
512
+5.4%
Pre-tax income
655
4,353
4,579
-85.0%
Income tax
115
-219
1,582
Effective tax rate
17.6%
-5.0%
34.5%
Net income
540
4,572
2,997
-88.2%
Net margin
0.8%
7.0%
5.0%
Diluted EPS
$2.03
$16.79
$11.07
-87.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,613
4,674
4,930
+20.1%
Capital expenditure
5,490
5,663
5,116
-3.1%
Free cash flow
123
-989
-186
Free cash flow margin
0.2%
-1.5%
-0.3%
Cash from investing
-5,473
-5,677
-4,981
Cash from financing
-1,039
227
528
Depreciation and amortisation
3,353
3,095
2,995
+8.3%
Share-based compensation
174
167
154
+4.2%
Buybacks
1,480
1,017
509
+45.5%
Dividends paid
683
535
426
+27.7%
Dividend per share
$2.60
$2.00
$1.60
+30.0%
Diluted shares, weighted
265m
272m
270m
-2.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
17,757
19,416
16,073
-8.5%
Debt
17,518
16,510
14,878
+6.1%
Other liabilities
19,128
16,404
17,601
+16.6%
Total liabilities and equity
54,403
52,330
48,552
+4.0%
Fixed assets
30,429
28,154
25,981
+8.1%
Goodwill
6,884
6,973
7,154
-1.3%
Intangible assets
416
480
529
-13.3%
Cash and equivalents
2,319
3,265
3,969
-29.0%
Receivables
9,116
8,481
7,599
+7.5%
Other assets
5,239
4,977
3,320
+5.3%
Total assets
54,403
52,330
48,552
+4.0%
10-K for the year ended 31 May 2019, filed 16 July 2019: the filing.