FedEx (FDX) FY2023 results: revenue $90.2 billion, down 3.6% on the year
FedEx Corp. (FDX) reported revenue of $90.2 billion for fiscal 2023, the year ended 31 May 2023, down 3.6% on the year before. Net income was $4.0 billion, up 3.8%, and diluted earnings per share $15.48. The figures are the company's own, from the 10-K it filed with the SEC on 17 July 2023.
Revenue
$90.2 billion
-3.6% on the year
FY2016FY2023
Operating margin
5.4%
6.7% a year earlier
FY2016FY2023
Net income
$4.0 billion
+3.8% on the year
FY2016FY2023
Diluted EPS
$15.48
+8.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,848
9,832
10,135
-10.0%
Capital expenditure
6,174
6,763
5,884
-8.7%
Free cash flow
2,674
3,069
4,251
-12.9%
Free cash flow margin
3.0%
3.3%
5.1%
Cash from investing
-6,174
-6,816
-6,010
Cash from financing
-2,597
-3,019
-2,090
Depreciation and amortisation
4,176
3,970
3,793
+5.2%
Share-based compensation
182
190
200
-4.2%
Buybacks
1,500
2,248
n/a
-33.3%
Dividends paid
1,177
793
686
+48.4%
Dividend per share
$5.86
$3.00
$2.60
+95.3%
Diluted shares, weighted
256m
266m
268m
-3.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
26,088
24,939
24,168
+4.6%
Debt
19,779
19,796
20,879
-0.1%
Operating lease liabilities
15,363
14,487
13,375
+6.0%
Finance lease liabilities
725
436
429
+66.3%
Other liabilities
25,188
26,336
23,926
-4.4%
Total liabilities and equity
87,143
85,994
82,777
+1.3%
Fixed assets
40,698
38,091
35,752
+6.8%
Goodwill
6,435
6,544
6,992
-1.7%
Intangible assets
234
301
322
-22.3%
Cash and equivalents
6,856
6,897
7,087
-0.6%
Receivables
10,188
11,863
12,069
-14.1%
Other assets
22,732
22,298
20,555
+1.9%
Total assets
87,143
85,994
82,777
+1.3%
10-K for the year ended 31 May 2023, filed 17 July 2023: the filing.