FedEx (FDX) FY2025 results: revenue $87.9 billion, up 0.3% on the year
FedEx Corp. (FDX) reported revenue of $87.9 billion for fiscal 2025, the year ended 31 May 2025, up 0.3% on the year before. Net income was $4.1 billion, down 5.5%, and diluted earnings per share $16.81. The figures are the company's own, from the 10-K it filed with the SEC on 21 July 2025.
Revenue
$87.9 billion
+0.3% on the year
FY2018FY2025
Operating margin
5.9%
6.3% a year earlier
FY2018FY2025
Net income
$4.1 billion
-5.5% on the year
FY2018FY2025
Diluted EPS
$16.81
-2.3% on the year
FY2018FY2025
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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
7,036
8,312
8,848
-15.4%
Capital expenditure
4,055
5,176
6,174
-21.7%
Free cash flow
2,981
3,136
2,674
-4.9%
Free cash flow margin
3.4%
3.6%
3.0%
Cash from investing
-4,092
-5,200
-6,174
Cash from financing
-4,019
-3,426
-2,597
Depreciation and amortisation
4,264
4,287
4,176
-0.5%
Share-based compensation
154
163
182
-5.5%
Buybacks
3,017
2,500
1,500
+20.7%
Dividends paid
1,339
1,259
1,177
+6.4%
Dividend per share
$5.52
$3.78
$5.86
+46.0%
Diluted shares, weighted
243m
251m
256m
-3.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
28,074
27,582
26,088
+1.8%
Short-term borrowings
0.0
n/a
n/a
Debt
19,899
19,772
19,779
+0.6%
Operating lease liabilities
14,272
15,053
15,363
-5.2%
Finance lease liabilities
621
413
725
+50.4%
Other liabilities
24,761
24,187
25,188
+2.4%
Total liabilities and equity
87,627
87,007
87,143
+0.7%
Fixed assets
41,642
41,491
40,698
+0.4%
Goodwill
6,603
6,423
6,435
+2.8%
Intangible assets
205
181
234
+13.3%
Securities held for sale or to maturity
70.0
77.0
n/a
-9.1%
Cash and equivalents
5,502
6,501
6,856
-15.4%
Receivables
11,368
10,087
10,188
+12.7%
Other assets
22,237
22,247
22,732
-0.0%
Total assets
87,627
87,007
87,143
+0.7%
10-K for the year ended 31 May 2025, filed 21 July 2025: the filing.