FedEx (FDX) FY2024 results: revenue $87.7 billion, down 2.7% on the year
FedEx Corp. (FDX) reported revenue of $87.7 billion for fiscal 2024, the year ended 31 May 2024, down 2.7% on the year before. Net income was $4.3 billion, up 9.0%, and diluted earnings per share $17.21. The figures are the company's own, from the 10-K it filed with the SEC on 15 July 2024.
Revenue
$87.7 billion
-2.7% on the year
FY2017FY2024
Operating margin
6.3%
5.4% a year earlier
FY2017FY2024
Net income
$4.3 billion
+9.0% on the year
FY2017FY2024
Diluted EPS
$17.21
+11.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
8,312
8,848
9,832
-6.1%
Capital expenditure
5,176
6,174
6,763
-16.2%
Free cash flow
3,136
2,674
3,069
+17.3%
Free cash flow margin
3.6%
3.0%
3.3%
Cash from investing
-5,200
-6,174
-6,816
Cash from financing
-3,426
-2,597
-3,019
Depreciation and amortisation
4,287
4,176
3,970
+2.7%
Share-based compensation
163
182
190
-10.4%
Buybacks
2,500
1,500
2,248
+66.7%
Dividends paid
1,259
1,177
793
+7.0%
Dividend per share
$3.78
$5.86
$3.00
-35.5%
Diluted shares, weighted
251m
256m
266m
-2.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
27,582
26,088
24,939
+5.7%
Debt
19,772
19,779
19,796
-0.0%
Operating lease liabilities
15,053
15,363
14,487
-2.0%
Finance lease liabilities
413
725
436
-43.0%
Other liabilities
24,187
25,188
26,336
-4.0%
Total liabilities and equity
87,007
87,143
85,994
-0.2%
Fixed assets
41,491
40,698
38,091
+1.9%
Goodwill
6,423
6,435
6,544
-0.2%
Intangible assets
181
234
301
-22.6%
Securities held for sale or to maturity
77.0
n/a
n/a
Cash and equivalents
6,501
6,856
6,897
-5.2%
Receivables
10,087
10,188
11,863
-1.0%
Other assets
22,247
22,732
22,298
-2.1%
Total assets
87,007
87,143
85,994
-0.2%
10-K for the year ended 31 May 2024, filed 15 July 2024: the filing.