FedEx (FDX) FY2020 results: revenue $69.2 billion, down 0.7% on the year
FedEx Corp. (FDX) reported revenue of $69.2 billion for fiscal 2020, the year ended 31 May 2020, down 0.7% on the year before. Net income was $1.3 billion, up 138.1%, and diluted earnings per share $4.90. The figures are the company's own, from the 10-K it filed with the SEC on 20 July 2020.
Revenue
$69.2 billion
-0.7% on the year
FY2013FY2020
Operating margin
3.5%
6.4% a year earlier
FY2013FY2020
Net income
$1.3 billion
+138.1% on the year
FY2013FY2020
Diluted EPS
$4.90
+141.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
69,217
69,693
65,450
-0.7%
Cost of revenue
n/a
16,654
15,101
Gross profit
n/a
53,039
50,349
Gross margin
n/a
76.1%
76.9%
Operating income
2,417
4,466
4,272
-45.9%
Operating margin
3.5%
6.4%
6.5%
Interest expense
672
588
558
+14.3%
Pre-tax income
1,669
655
4,353
+154.8%
Income tax
383
115
-219
+233.0%
Effective tax rate
22.9%
17.6%
-5.0%
Net income
1,286
540
4,572
+138.1%
Net margin
1.9%
0.8%
7.0%
Diluted EPS
$4.90
$2.03
$16.79
+141.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
5,097
5,613
4,674
-9.2%
Capital expenditure
5,868
5,490
5,663
+6.9%
Free cash flow
-771
123
-989
Free cash flow margin
-1.1%
0.2%
-1.5%
Cash from investing
-5,846
-5,473
-5,677
Cash from financing
3,381
-1,039
227
Depreciation and amortisation
3,615
3,353
3,095
+7.8%
Share-based compensation
168
174
167
-3.4%
Buybacks
3.0
1,480
1,017
-99.8%
Dividends paid
679
683
535
-0.6%
Dividend per share
$2.60
$2.60
$2.00
0.0%
Diluted shares, weighted
262m
265m
272m
-1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
18,295
17,757
19,416
+3.0%
Debt
21,518
17,518
16,510
+22.8%
Operating lease liabilities
12,195
n/a
n/a
Finance lease liabilities
434
n/a
n/a
Other liabilities
21,095
19,128
16,404
+10.3%
Total liabilities and equity
73,537
54,403
52,330
+35.2%
Fixed assets
33,608
30,429
28,154
+10.4%
Goodwill
6,372
6,884
6,973
-7.4%
Intangible assets
322
416
480
-22.6%
Cash and equivalents
4,881
2,319
3,265
+110.5%
Receivables
10,102
9,116
8,481
+10.8%
Other assets
18,252
5,239
4,977
+248.4%
Total assets
73,537
54,403
52,330
+35.2%
10-K for the year ended 31 May 2020, filed 20 July 2020: the filing.