financial statements

The full income statement, balance sheet, and cash-flow statement for FedEx Corporation (FDX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
Revenue	87.9B YoY+0.3%	87.7B YoY-2.7%	90.2B YoY-3.6%	93.5B YoY+11.4%	84.0B YoY+21.3%
Amortization of intangibles	48.0M YoY+2.1%	47.0M YoY-9.6%	52.0M YoY+0.0%	52.0M YoY+6.1%	49.0M YoY-25.8%
Provision for credit losses	521M YoY+23.8%	421M YoY-39.5%	696M YoY+72.7%	403M YoY-30.2%	577M YoY+30.5%
Operating income	5.22B YoY-6.2%	5.56B YoY+13.2%	4.91B YoY-21.3%	6.25B YoY+6.6%	5.86B YoY+142.3%
Interest expense	789M YoY+5.9%	745M YoY+7.3%	694M YoY+0.7%	689M YoY-13.1%	793M YoY+18.0%
Interest & investment income	363M YoY-1.9%	370M YoY+86.9%	198M YoY+273.6%	53.0M YoY+1.9%	52.0M YoY-5.5%
Other non-operating income	-63.0M YoY+10.0%	-70.0M YoY+34.6%	-107M YoY-923.1%	13.0M YoY+140.6%	-32.0M YoY-255.6%
Pre-tax income	5.44B YoY-6.8%	5.84B YoY+8.8%	5.36B YoY+9.5%	4.90B YoY-26.6%	6.67B YoY+299.9%
Income tax	1.35B YoY-10.4%	1.50B YoY+8.2%	1.39B YoY+30.0%	1.07B YoY-25.8%	1.44B YoY+276.8%
	4.09B YoY-5.5%	4.33B YoY+9.0%	3.97B YoY+3.8%	3.83B YoY-26.9%	5.23B YoY+306.8%
Net income to common	4.09B YoY-5.5%	4.33B YoY+9.1%	3.97B YoY+3.8%	3.82B YoY-26.8%	5.22B YoY+306.5%
	$16.81 YoY-2.3%	$17.21 YoY+11.2%	$15.48 YoY+8.0%	$14.33 YoY-26.3%	$19.45 YoY+296.9%
EPS (basic)	$16.96 YoY-2.6%	$17.41 YoY+11.6%	$15.60 YoY+7.3%	$14.54 YoY-26.5%	$19.79 YoY+302.2%
Weighted-avg shares (basic)	241M YoY-2.8%	248M YoY-2.4%	254M YoY-3.4%	263M YoY-0.4%	264M YoY+1.1%
Weighted-avg shares (diluted)	243M YoY-3.2%	251M YoY-2.0%	256M YoY-3.8%	266M YoY-0.7%	268M YoY+2.3%
Dividends per share	$5.52 YoY+46.0%	$3.78 YoY-35.5%	$5.86 YoY+95.3%	$3.00 YoY+15.4%	$2.60 YoY+0.0%
Balance Sheet	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
	18.4B YoY+1.0%	18.2B YoY-2.2%	18.6B YoY-8.6%	20.4B YoY-1.0%	20.6B YoY+25.6%
Cash & equivalents	5.50B YoY-15.4%	6.50B YoY-5.2%	6.86B YoY-0.6%	6.90B YoY-2.7%	7.09B YoY+45.2%
Accounts receivable	11.4B YoY+12.7%	10.1B YoY-1.0%	10.2B YoY-14.1%	11.9B YoY-1.7%	12.1B YoY+19.5%
Prepaid expenses	914M YoY-9.1%	1.00B YoY+4.5%	962M YoY-0.6%	968M YoY+15.7%	837M YoY+1.1%
	87.6B YoY+0.7%	87.0B YoY-0.2%	87.1B YoY+1.3%	86.0B YoY+3.9%	82.8B YoY+12.6%
Property, plant & equipment	41.6B YoY+0.4%	41.5B YoY+1.9%	40.7B YoY+6.8%	38.1B YoY+6.5%	35.8B YoY+6.4%
Operating lease right-of-use	16.5B YoY-3.9%	17.1B YoY-1.3%	17.3B YoY+4.4%	16.6B YoY+8.0%	15.4B YoY+10.5%
Goodwill	6.60B YoY+2.8%	6.42B YoY-0.2%	6.43B YoY-1.7%	6.54B YoY-6.4%	6.99B YoY+9.7%
Intangible assets	205M YoY+13.3%	181M YoY-22.6%	234M YoY-22.3%	301M YoY-6.5%	322M YoY+0.0%
Deferred tax assets	1.12B YoY-15.0%	1.31B YoY+12.9%	1.16B YoY-3.6%	1.21B YoY-14.9%	1.42B YoY+5.3%
Other non-current assets	4.54B YoY+20.5%	3.77B YoY-7.0%	4.05B YoY-7.5%	4.38B YoY+7.6%	4.07B YoY+25.0%
Total non-current assets	69.2B YoY+0.6%	68.8B YoY+0.4%	68.5B YoY+4.4%	65.6B YoY+5.5%	62.2B YoY+8.8%
	15.4B YoY+15.4%	13.4B YoY-1.7%	13.6B YoY-4.8%	14.3B YoY+4.5%	13.7B YoY+32.1%
Accounts payable	3.69B YoY+15.8%	3.19B YoY-17.1%	3.85B YoY-4.5%	4.03B YoY+4.9%	3.84B YoY+17.5%
Accrued liabilities	5.00B YoY+0.7%	4.96B YoY+4.5%	4.75B YoY-8.5%	5.19B YoY+13.7%	4.56B YoY+29.2%
Deferred revenue	23.0M YoY+0.0%	23.0M YoY+21.1%	19.0M YoY+137.5%	8.00M YoY-11.1%	9.00M YoY-10.0%
Short-term & current debt	300M YoY+0.0%	300M YoY+0.0%	300M YoY+0.0%	300M YoY+0.0%	300M YoY+0.0%
Current lease liability	2.56B YoY+4.1%	2.46B YoY+3.1%	2.39B YoY-2.2%	2.44B YoY+10.6%	2.21B YoY+14.8%
Long-term debt	19.9B YoY+0.6%	19.8B YoY-0.0%	19.8B YoY-0.1%	19.8B YoY+1.9%	19.4B YoY-9.7%
Non-current lease liability	14.3B YoY-5.2%	15.1B YoY-2.0%	15.4B YoY+6.0%	14.5B YoY+8.3%	13.4B YoY+9.7%
Deferred tax liabilities	4.21B YoY-6.2%	4.48B YoY-0.2%	4.49B YoY+9.7%	4.09B YoY+4.2%	3.93B YoY+24.2%
Other non-current liabilities	783M YoY+13.6%	689M YoY-0.9%	695M YoY+1.9%	682M YoY-30.6%	983M YoY+110.9%
Total non-current liabilities	4.46B YoY+0.0%	4.46B YoY+0.0%	4.46B YoY+0.0%	4.46B YoY+0.0%	4.46B YoY+0.0%
	28.1B YoY+1.8%	27.6B YoY+5.7%	26.1B YoY+4.6%	24.9B YoY+3.2%	24.2B YoY+32.1%
Common stock	32.0M YoY+0.0%	32.0M YoY+0.0%	32.0M YoY+0.0%	32.0M YoY+0.0%	32.0M YoY+0.0%
Additional paid-in capital	4.29B YoY+7.6%	3.99B YoY+5.8%	3.77B YoY+1.5%	3.71B YoY+6.6%	3.48B YoY+3.7%
Retained earnings	41.4B YoY+7.1%	38.6B YoY+9.6%	35.3B YoY+7.6%	32.8B YoY+9.9%	29.8B YoY+18.2%
Treasury stock	16.3B YoY+18.6%	13.7B YoY+17.9%	11.6B YoY+11.1%	10.5B YoY+24.4%	8.43B YoY-8.0%
Accumulated other comprehensive income	-1.36B YoY-0.2%	-1.36B YoY-2.4%	-1.33B YoY-20.3%	-1.10B YoY-50.7%	-732M YoY+36.2%
Total liabilities & equity	87.6B YoY+0.7%	87.0B YoY-0.2%	87.1B YoY+1.3%	86.0B YoY+3.9%	82.8B YoY+12.6%
Common shares issued	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%
Shares outstanding (cover)	240M YoY-2.6%	246M YoY-2.1%	251M YoY-3.0%	259M YoY-2.3%	265M YoY+1.6%
Cash Flow	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
	7.04B YoY-15.4%	8.31B YoY-6.1%	8.85B YoY-10.0%	9.83B YoY-3.0%	10.1B YoY+98.8%
Depreciation & amortization	4.26B YoY-0.5%	4.29B YoY+2.7%	4.18B YoY+5.2%	3.97B YoY+4.7%	3.79B YoY+4.9%
Share-based compensation	154M YoY-5.5%	163M YoY-10.4%	182M YoY-4.2%	190M YoY-5.0%	200M YoY+19.0%
Deferred income taxes	-47.0M YoY+71.0%	-162M YoY-136.3%	446M YoY+38.5%	322M YoY-59.9%	802M YoY+130.5%
	-4.09B YoY+21.3%	-5.20B YoY+15.8%	-6.17B YoY+9.4%	-6.82B YoY-13.4%	-6.01B YoY-2.8%
Capital expenditure	4.05B YoY-21.7%	5.18B YoY-16.2%	6.17B YoY-8.7%	6.76B YoY+14.9%	5.88B YoY+0.3%
Acquisitions	—	—	—	—	228M
Purchases of investments	262M YoY+48.9%	176M YoY+109.5%	84.0M YoY-42.9%	147M	—
Sales/maturities of investments	—	38.0M	—	—	—
Proceeds from sale of PP&E	115M YoY+0.9%	114M YoY+35.7%	84.0M YoY-10.6%	94.0M	—
	-4.02B YoY-17.3%	-3.43B YoY-31.9%	-2.60B YoY+14.0%	-3.02B YoY-44.4%	-2.09B YoY-161.8%
Long-term debt issued	—	—	—	—	4.21B YoY-35.8%
Common stock repurchased	3.02B YoY+20.7%	2.50B YoY+66.7%	1.50B YoY-33.3%	2.25B	—
Dividends paid	1.34B YoY+6.4%	1.26B YoY+7.0%	1.18B YoY+48.4%	793M YoY+15.6%	686M YoY+1.0%
Other financing activities	-30.0M YoY-172.7%	-11.0M YoY-1200.0%	1.00M YoY+200.0%	-1.00M YoY+97.4%	-38.0M YoY-322.2%
Net change in cash	-999M YoY-181.4%	-355M YoY-765.9%	-41.0M YoY+78.4%	-190M YoY-108.6%	2.21B YoY-13.9%
Interest paid	814M YoY+9.4%	744M YoY+7.2%	694M YoY-0.1%	695M YoY-15.1%	819M YoY+28.2%
Income taxes paid	1.25B YoY-12.8%	1.43B YoY+37.4%	1.04B YoY+489.3%	177M YoY-86.6%	1.32B YoY+3563.9%
Valuation Ratios	as ofMay 31 ’25	as ofMay 31 ’24	as ofMay 31 ’23	as ofMay 31 ’22	as ofMay 31 ’21
Market cap	42.1B YoY-16.4%	50.4B YoY+14.1%	44.1B YoY-5.9%	46.9B YoY-30.3%	67.3B YoY+144.9%
P/E	10.8× YoY-7.1%	11.6× YoY+4.6%	11.1× YoY-9.3%	12.3× YoY-44.8%	22.2×
P/S	0.5× YoY-16.1%	0.6× YoY+17.3%	0.5× YoY-2.4%	0.5× YoY-41.3%	0.9× YoY+116.5%
P/B	1.6× YoY-13.2%	1.8× YoY+7.9%	1.7× YoY-10.0%	1.9× YoY-38.5%	3.1× YoY+109.7%
P/FCF	12.3× YoY-23.2%	16.1× YoY-2.7%	16.5× YoY+8.0%	15.3× YoY-12.6%	17.5×
Earnings yield	9.3% YoY+7.6%	8.6% YoY-4.4%	9.0% YoY+10.3%	8.2% YoY+81.1%	4.5%
FCF yield	8.1% YoY+30.2%	6.2% YoY+2.8%	6.1% YoY-7.4%	6.5% YoY+14.4%	5.7%
Dividend yield	3.1% YoY+70.0%	1.8% YoY-44.6%	3.3% YoY+101.2%	1.7% YoY+61.7%	1.0% YoY-58.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: FDX's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all FDX filings on SEC EDGAR → Not investment advice.

FDX▼ financial statements

About this data

financial statements