FEDEX CORP

Listed Company

FDXCIK 0001048911NYSELarge AcceleratedAir Courier ServicesDelawareFY ends May 31

Period

FY 2025

Revenue

$87.93B

Net Income

$4.09B

Total Assets

$87.63B

Equity

$28.07B

Shares Out

238.61M

Op. Cash Flow

$7.04B

+ Insider

Business

FEDEX CORP provides global transportation, e-commerce, and business services through an integrated air-ground network that connects shippers, retailers, and consumers. It offers time- and day-definite express and deferred package delivery, freight and LTL services, customs brokerage, global ocean and air forwarding, supply-chain and fulfillment solutions, retail print and pack-and-ship services, and data-driven digital and analytics platforms. Key business segments include Federal Express (air-ground express), FedEx Freight, FedEx Dataworks, FedEx Office, and FedEx Logistics (including FedEx Supply Chain). The company serves more than 220 countries and territories via its global air and road networks, retail locations, drop-off partners, online platforms, and independent service providers.

Summary from filing dated 2025-07-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
REVENUE	87,926	87,693	90,155	93,512	83,959
Salaries and employee benefits	31,232	30,961	31,019	32,058	30,173
Purchased transportation	21,768	20,921	21,790	24,118	21,674
Rentals and landing fees	4,647	4,571	4,738	4,712	4,155
Depreciation and amortization	4,300	4,300	4,200	4,000	3,793
Fuel	3,775	4,710	5,909	5,115	2,882
Maintenance and repairs	3,245	3,291	3,357	3,372	3,328
Goodwill and other asset impairment charges	21	157	117	—	—
Business optimization and realignment costs	756	582	309	278	116
Other	13,001	12,654	13,828	13,644	11,981
TOTAL OPERATING EXPENSES	82,709	82,134	85,243	87,267	78,102
OPERATING INCOME	5,217	5,559	4,912	6,245	5,857
Interest expense	−789	−745	−694	—	—
Interest income	363	370	198	53	52
Other retirement plans income	713	722	1,054	−726	1,983
Other, net	−63	−70	−107	13	−32
TOTAL OTHER INCOME (EXPENSE)	224	277	451	−1,349	817
INCOME BEFORE INCOME TAXES	5,441	5,836	5,363	4,896	6,674
PROVISION FOR INCOME TAXES	1,349	1,505	1,391	1,070	1,443
NET INCOME	4,092	4,331	3,972	3,826	5,231
BASIC EARNINGS PER COMMON SHARE (in dollar per share)	16.96	17.41	15.6	14.54	19.79
DILUTED EARNINGS PER COMMON SHARE (in dollar per share)	16.81	17.21	15.48	14.33	19.45

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Cash and cash equivalents	5,502	6,501	6,856	6,897	7,087
Receivables, less allowances of $773 and $775	11,368	10,087	10,188	11,863	12,069
Spare parts, supplies, and fuel, less allowances of $308 and $288	602	614	604	637	587
Prepaid expenses and other	914	1,005	962	968	837
Total current assets	18,386	18,207	18,610	20,365	20,580
Aircraft and related equipment	31,584	30,525	—	—	—
Package handling and ground support equipment	18,878	17,880	16,839	14,930	13,012
Information technology	9,706	9,203	8,792	8,098	7,486
Vehicles and trailers	10,949	10,568	10,191	9,806	9,282
Facilities and other	16,505	16,215	15,694	14,567	14,029
Total property and equipment, at cost	87,622	84,391	80,624	75,275	70,077
Less accumulated depreciation and amortization	45,980	42,900	39,926	37,184	34,325
Net property and equipment	41,642	41,491	40,698	38,091	35,752
Operating lease right-of-use assets, net	16,453	17,115	17,347	16,613	15,383
Goodwill	6,603	6,423	6,435	6,544	6,992
Other assets	4,543	3,771	4,053	4,381	4,070
Total other long-term assets	27,599	27,309	27,835	27,538	26,445
TOTAL ASSETS	87,627	87,007	87,143	85,994	82,777
Current portion of long-term debt	1,428	68	126	82	146
Accrued salaries and employee benefits	2,731	2,673	2,475	2,531	2,903
Accounts payable	3,692	3,189	3,848	4,030	3,841
Operating lease liabilities	2,565	2,463	2,390	2,443	2,208
Accrued expenses	4,995	4,962	4,747	5,188	4,562
Total current liabilities	15,411	13,355	13,586	14,274	13,660
LONG-TERM DEBT, LESS CURRENT PORTION	19,151	20,135	20,453	20,182	20,733
Deferred income taxes	4,205	4,482	4,489	4,093	3,927
Pension, postretirement healthcare, and other benefit obligations	1,698	2,010	3,130	4,448	3,501
Self-insurance accruals	4,033	3,701	—	—	—
Operating lease liabilities	14,272	15,053	15,363	14,487	13,375
Other liabilities	783	689	695	682	983
Total other long-term liabilities	24,991	25,935	27,016	26,599	24,216
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Common stock, $0.10 par value; 800 million shares authorized; 318 million shares issued as of May 31, 2025 and 2024	32	32	32	32	32
Additional paid-in capital	4,290	3,988	3,769	3,712	3,481
Retained earnings	41,402	38,649	35,259	32,782	29,817
Accumulated other comprehensive loss	−1,362	−1,359	−1,327	−1,103	−732
Treasury stock, at cost; 80 million shares as of May 31, 2025 and 72 million shares as of May 31, 2024	−16,288	−13,728	−11,645	−10,484	−8,430
Total common stockholders investment	28,074	27,582	26,088	24,939	24,168
TOTAL LIABILITIES AND COMMON STOCKHOLDERS INVESTMENT	87,627	87,007	87,143	85,994	82,777

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Provision for uncollectible accounts	521	421	696	403	577
Other noncash items including leases and deferred income taxes	3,156	2,919	3,472	2,931	—
Stock-based compensation	154	163	182	190	200
Retirement plans mark-to-market adjustments	−515	−561	−650	1,578	−1,176
Business optimization and realignment costs, net of payments	43	26	23	53	102
Receivables	−1,780	−270	782	−310	−1,389
Other current assets	90	−43	48	—	—
Pension and postretirement healthcare assets and liabilities, net	−553	−522	−623	−697	−317
Accounts payable and other liabilities	−2,445	−2,553	−3,331	—	—
Other, net	−12	−43	−16	−93	−197
Cash provided by operating activities	7,036	8,312	8,848	9,832	10,135
Capital expenditures	−4,055	−5,176	−6,174	−6,763	−5,884
Purchase of investments	−262	−176	−84	−147	—
Proceeds from sale of investments	110	38	0	—	—
Proceeds from asset dispositions, and other investing activities, net	115	114	84	94	—
Cash used in investing activities	−4,092	−5,200	−6,174	−6,816	−6,010
Principal payments on debt	−157	−147	−152	−161	−6,318
Proceeds from stock issuances	524	491	231	184	740
Dividends paid	−1,339	−1,259	−1,177	−793	−686
Purchase of common stock	−3,017	−2,500	−1,500	−2,248	—
Other, net	−30	−11	1	−1	−38
Cash used in financing activities	−4,019	−3,426	−2,597	−3,019	−2,090
Effect of exchange rate changes on cash	76	−41	−118	−187	171
Net decrease in cash and cash equivalents	−999	−355	−41	−190	2,206

Filings

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Insider Activity

Person — FEDEX CORP

CIK: 0001048911
Insider filer: Yes

Positions

Company	Ticker	Role	Title	Tenure
FedEx Freight Holding Company, Inc.	FDXF	ten_percent	—	2026-05-11