FEDEX CORP Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| Basic earnings per common share: | |||||||||||||||||
Net earnings allocable to common shares(1) | $ | 4,087 | $ | 4,325 | $ | 3,966 | |||||||||||
| Weighted-average common shares | 241 | 248 | 254 | ||||||||||||||
| Basic earnings per common share | $ | 16.96 | $ | 17.41 | $ | 15.60 | |||||||||||
| Diluted earnings per common share: | |||||||||||||||||
Net earnings allocable to common shares(1) | $ | 4,087 | $ | 4,325 | $ | 3,966 | |||||||||||
| Weighted-average common shares | 241 | 248 | 254 | ||||||||||||||
| Dilutive effect of share-based awards | 2 | 3 | 2 | ||||||||||||||
| Weighted-average diluted shares | 243 | 251 | 256 | ||||||||||||||
| Diluted earnings per common share | $ | 16.81 | $ | 17.21 | $ | 15.48 | |||||||||||
| Anti-dilutive options excluded from diluted earnings per common share | 4.9 | 5.8 | 7.4 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 21, 2025 | Showing above |
| 2024 | Jul 15, 2024 | |
| 2023 | Jul 17, 2023 | |
| 2022 | Jul 18, 2022 | |
| 2021 | Jul 19, 2021 | |
| 2020 | Jul 20, 2020 | |
| 2019 | Jul 16, 2019 | |
| 2018 | Jul 16, 2018 | |
| 2017 | Jul 17, 2017 | |
| 2016 | Jul 18, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.