FedEx Corporation (FDX) financial statements: income statement, balance sheet and cash flow
FedEx Corporation's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (May 31, 2026 · FY), FedEx Corporation reported revenue of $94.7B (+7.7% year on year) and net income of $4.4B (+8.3% year on year).
Income statement
FedEx Corporation income statement, fiscal years
Line item
May 31, 2026 · FY
May 31, 2025 · FY
May 31, 2024 · FY
May 31, 2023 · FY
REVENUE
$94.7B
$87.9B
$87.7B
$90.2B
Salaries and employee benefits
$33.8B
$31.2B
$31.0B
$31.0B
Purchased transportation
$23.6B
$21.8B
$20.9B
$21.8B
Rentals and landing fees
$4.9B
$4.6B
$4.6B
$4.7B
Depreciation and amortization
$4.4B
$4.3B
$4.3B
$4.2B
Fuel
$4.1B
$3.8B
$4.7B
$5.9B
Maintenance and repairs
$3.3B
$3.2B
$3.3B
$3.4B
Separation and other costs
$771.0M
—
—
—
Business optimization and realignment costs
$366.0M
$756.0M
$582.0M
$309.0M
Goodwill and other asset impairment charges
$23.0M
$21.0M
$157.0M
$117.0M
Other
$14.0B
$13.0B
$12.7B
$13.8B
Total operating expenses
$89.3B
$82.7B
$82.1B
$85.2B
OPERATING INCOME
$5.5B
$5.2B
$5.6B
$4.9B
Interest expense
($970.0M)
($789.0M)
($745.0M)
($694.0M)
Other retirement plans income
$885.0M
$713.0M
$722.0M
$1.1B
Interest income
$437.0M
$363.0M
$370.0M
$198.0M
Other, net
($22.0M)
($63.0M)
($70.0M)
($107.0M)
Total other (expense) income
$330.0M
$224.0M
$277.0M
$451.0M
INCOME BEFORE INCOME TAXES
$5.8B
$5.4B
$5.8B
$5.4B
PROVISION FOR INCOME TAXES
$1.4B
$1.3B
$1.5B
$1.4B
NET INCOME
$4.4B
$4.1B
$4.3B
$4.0B
Basic (in dollar per share)
$18.71
$16.96
$17.41
$15.60
Diluted (in dollar per share)
$18.55
$16.81
$17.21
$15.48
FedEx Corporation income statement, quarters
Line item
Feb 28, 2026 · Q3
Nov 30, 2025 · Q2
Aug 31, 2025 · Q1
Feb 28, 2025 · Q3
REVENUE
$24.0B
$23.5B
$22.2B
$22.2B
Salaries and employee benefits
$8.8B
$8.4B
$8.1B
$7.9B
Purchased transportation
$6.1B
$5.9B
$5.5B
$5.6B
Rentals and landing fees
$1.2B
$1.2B
$1.2B
$1.2B
Depreciation and amortization
$1.1B
$1.1B
$1.1B
$1.1B
Fuel
$856.0M
$889.0M
$873.0M
$889.0M
Maintenance and repairs
$771.0M
$889.0M
$843.0M
$783.0M
Separation and other costs
$202.0M
$213.0M
$45.0M
—
Business optimization costs
$65.0M
$30.0M
$67.0M
$179.0M
Other
$3.5B
$3.5B
$3.4B
$3.3B
Total operating expenses
$22.7B
$22.1B
$21.1B
$20.9B
OPERATING INCOME
$1.3B
$1.4B
$1.2B
$1.3B
Interest, net
($138.0M)
($135.0M)
($119.0M)
($116.0M)
Other retirement plans, net
$59.0M
$59.0M
$60.0M
$50.0M
Other, net
($6.0M)
($13.0M)
$7.0M
($45.0M)
Total other (expense) income
($85.0M)
($89.0M)
($52.0M)
($111.0M)
INCOME BEFORE INCOME TAXES
$1.3B
$1.3B
$1.1B
$1.2B
PROVISION FOR INCOME TAXES
$207.0M
$333.0M
$310.0M
$272.0M
NET INCOME
$1.1B
$956.0M
$824.0M
$909.0M
Basic (in dollars per share)
$4.46
$4.07
$3.48
$3.79
Diluted (in dollars per share)
$4.41
$4.04
$3.46
$3.76
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)
$1.45
$1.45
$2.90
$1.38
Balance sheet
FedEx Corporation balance sheet, fiscal years
Line item
May 31, 2026 · FY
May 31, 2025 · FY
May 31, 2024 · FY
May 31, 2023 · FY
Cash and cash equivalents
$13.3B
$5.5B
$6.5B
$6.9B
Receivables, less allowances of $864 and $773
$12.7B
$11.4B
$10.1B
$10.2B
Spare parts, supplies, and fuel, less allowances of $324 and $308
$669.0M
$602.0M
$614.0M
$604.0M
Prepaid expenses and other
$1.3B
$914.0M
$1.0B
$962.0M
Total current assets
$27.9B
$18.4B
$18.2B
$18.6B
Aircraft and related equipment
$32.1B
$31.6B
$30.5B
$29.1B
Package handling and ground support equipment
$19.8B
$18.9B
$17.9B
$16.8B
Information technology
$9.9B
$9.7B
$9.2B
$8.8B
Vehicles and trailers
$11.2B
$10.9B
$10.6B
$10.2B
Facilities and other
$17.9B
$16.5B
$16.2B
$15.7B
Total property and equipment, at cost
$90.9B
$87.6B
$84.4B
$80.6B
Less accumulated depreciation and amortization
$48.9B
$46.0B
$42.9B
$39.9B
Net property and equipment
$42.0B
$41.6B
$41.5B
$40.7B
Operating lease right-of-use assets, net
$16.8B
$16.5B
$17.1B
$17.3B
Goodwill
$6.7B
$6.6B
$6.4B
$6.4B
Other assets
$5.4B
$4.5B
$3.8B
$4.1B
Total other long-term assets
$29.0B
$27.6B
$27.3B
$27.8B
TOTAL ASSETS
$98.9B
$87.6B
$87.0B
$87.1B
Accrued expenses
$5.7B
$5.0B
$5.0B
$4.7B
Accounts payable
$4.3B
$3.7B
$3.2B
$3.8B
Accrued salaries and employee benefits
$3.8B
$2.7B
$2.7B
$2.5B
Operating lease liabilities
$2.7B
$2.6B
$2.5B
$2.4B
Current portion of long-term debt
$1.7B
$1.4B
$68.0M
$126.0M
Short-term borrowings
$745.0M
—
—
—
Total current liabilities
$18.9B
$15.4B
$13.4B
$13.6B
LONG-TERM DEBT, LESS CURRENT PORTION
$23.3B
$19.2B
$20.1B
$20.5B
Operating lease liabilities
$14.5B
$14.3B
$15.1B
$15.4B
Self-insurance accruals
$4.4B
$4.0B
$3.7B
$3.3B
Deferred income taxes
$3.7B
$4.2B
$4.5B
$4.5B
Pension, postretirement healthcare, and other benefit obligations
$1.6B
$1.7B
$2.0B
$3.1B
Other liabilities
$834.0M
$783.0M
$689.0M
$695.0M
Total other long-term liabilities
$25.1B
$25.0B
$25.9B
$27.0B
Preferred Stock, Value, Issued
$0
—
—
—
Common stock, $0.10 par value; 800 million shares authorized; 318 million shares issued as of May 31, 2026 and 2025
32.0M
32.0M
32.0M
32.0M
Additional paid-in capital
$4.7B
$4.3B
$4.0B
$3.8B
Retained earnings
$44.5B
$41.4B
$38.6B
$35.3B
Accumulated other comprehensive loss
($1.2B)
($1.4B)
($1.4B)
($1.3B)
Treasury stock, at cost; 78 million shares as of May 31, 2026 and 80 million shares as of May 31, 2025
-16.3B
-16.3B
-13.7B
-11.6B
Total common stockholders’ investment
$31.6B
$28.1B
$27.6B
$26.1B
TOTAL LIABILITIES AND COMMON STOCKHOLDERS’ INVESTMENT
$98.9B
$87.6B
$87.0B
$87.1B
FedEx Corporation balance sheet, quarters
Line item
Feb 28, 2026
Nov 30, 2025
Aug 31, 2025
Feb 28, 2025
Cash and cash equivalents
$8.0B
$6.6B
$6.2B
$5.1B
Restricted cash
$3.7B
—
—
—
Receivables, less allowances of $932 and $773
$11.8B
$12.2B
$11.5B
$10.2B
Spare parts, supplies, and fuel, less allowances of $322 and $308
$631.0M
$631.0M
$604.0M
$617.0M
Prepaid expenses and other
$1.4B
$1.3B
$1.1B
$1.2B
Total current assets
$25.5B
$20.7B
$19.3B
$17.2B
PROPERTY AND EQUIPMENT, AT COST
$90.1B
$88.9B
$88.1B
$86.6B
Less accumulated depreciation and amortization
$48.6B
$47.5B
$46.7B
$45.6B
Net property and equipment
$41.5B
$41.3B
$41.4B
$41.0B
Operating lease right-of-use assets, net
$16.4B
$16.2B
$16.4B
$16.5B
Goodwill
$6.8B
$6.6B
$6.7B
$6.3B
Other assets
$4.6B
$4.4B
$4.6B
$4.1B
Total other long-term assets
$27.7B
$27.2B
$27.7B
$26.9B
ASSETS
$94.7B
$89.2B
$88.4B
$85.0B
Current portion of long-term debt
$2.4B
$901.0M
$883.0M
$611.0M
Accrued salaries and employee benefits
$3.1B
$2.7B
$2.3B
$2.6B
Accounts payable
$4.2B
$4.7B
$4.2B
$3.6B
Operating lease liabilities
$2.6B
$2.6B
$2.6B
$2.5B
Accrued expenses
$5.0B
$5.3B
$5.5B
$4.6B
Total current liabilities
$17.3B
$16.2B
$15.5B
$13.9B
LONG-TERM DEBT, LESS CURRENT PORTION
$22.8B
$20.3B
$20.3B
$19.5B
Deferred income taxes
$3.8B
$3.9B
$4.0B
$4.3B
Pension, postretirement healthcare, and other benefit obligations
$1.7B
$1.7B
$1.7B
$1.7B
Self-insurance accruals
$4.3B
$4.2B
$4.1B
$3.9B
Operating lease liabilities
$14.1B
$13.9B
$14.1B
$14.4B
Other liabilities
$823.0M
$790.0M
$817.0M
$657.0M
Total other long-term liabilities
$24.8B
$24.5B
$24.8B
$24.9B
Common stock, $0.10 par value; 800 million shares authorized; 318 million shares issued as of February 28, 2026 and May 31, 2025
32.0M
32.0M
32.0M
32.0M
Additional paid-in capital
$4.6B
$4.4B
$4.3B
$4.2B
Retained earnings
$42.9B
$42.2B
$41.5B
$39.8B
Accumulated other comprehensive loss
($1.2B)
($1.4B)
($1.4B)
($1.5B)
Treasury Stock, Value
($16.5B)
($17.0B)
($16.8B)
($15.8B)
Total common stockholders’ investment
$29.8B
$28.1B
$27.8B
$26.7B
TOTAL LIABILITIES AND COMMON STOCKHOLDERS' INVESTMENT
$94.7B
$89.2B
$88.4B
$85.0B
Cash flow statement
FedEx Corporation cash flow statement, fiscal years
Line item
May 31, 2026 · FY
May 31, 2025 · FY
May 31, 2024 · FY
May 31, 2023 · FY
Net income
$4.4B
$4.1B
$4.3B
$4.0B
Depreciation and amortization
$4.4B
$4.3B
$4.3B
$4.2B
Provision for uncollectible accounts
$946.0M
$521.0M
$421.0M
$696.0M
Other noncash items including leases and deferred income taxes
$2.9B
$3.2B
$2.9B
—
Stock-based compensation
$177.0M
$154.0M
$163.0M
$182.0M
Retirement plans mark-to-market adjustments
($647.0M)
($515.0M)
($561.0M)
($650.0M)
Goodwill and other asset impairment charges
$23.0M
$21.0M
$157.0M
$117.0M
Separation and other costs, net of payments
$248.0M
—
—
—
Business optimization and realignment costs, net of payments
($48.0M)
$43.0M
$26.0M
$23.0M
Receivables
($2.2B)
($1.8B)
($270.0M)
$782.0M
Other current assets
($121.0M)
$90.0M
($43.0M)
$48.0M
Pension and postretirement healthcare assets and liabilities, net
($169.0M)
($553.0M)
($522.0M)
($623.0M)
Accounts payable and other liabilities
($933.0M)
($2.4B)
($2.6B)
($3.3B)
Other, net
($43.0M)
($12.0M)
($43.0M)
($16.0M)
Cash provided by operating activities
$8.9B
$7.0B
$8.3B
$8.8B
Capital expenditures
($3.8B)
($4.1B)
($5.2B)
($6.2B)
Purchase of investments
($682.0M)
($262.0M)
($176.0M)
($84.0M)
Proceeds from sale of investments
$483.0M
$110.0M
$38.0M
—
Proceeds from asset dispositions, and other investing activities, net
$97.0M
$115.0M
$114.0M
—
Cash used in investing activities
($3.9B)
($4.1B)
($5.2B)
($6.2B)
Proceeds from debt issuances
$5.3B
—
—
—
Short-term borrowings, net
$742.0M
—
—
—
Principal payments on debt
($2.0B)
($157.0M)
($147.0M)
($152.0M)
Proceeds from stock issuances
$992.0M
$524.0M
$491.0M
$231.0M
Dividends paid
($1.4B)
($1.3B)
($1.3B)
($1.2B)
Purchase of common stock
($796.0M)
($3.0B)
($2.5B)
($1.5B)
Other, net
($55.0M)
($30.0M)
($11.0M)
$1.0M
Cash provided by (used in) financing activities
$2.7B
($4.0B)
($3.4B)
($2.6B)
Effect of exchange rate changes on cash
$46.0M
$76.0M
($41.0M)
($118.0M)
Net increase (decrease) in cash and cash equivalents
$7.8B
($999.0M)
($355.0M)
($41.0M)
Cash and cash equivalents at beginning of period
$5.5B
$6.5B
$6.9B
$6.9B
Cash and cash equivalents at end of period
$13.3B
$5.5B
$6.5B
$6.9B
FedEx Corporation cash flow statement, quarters
Line item
Feb 28, 2026 · YTD
Nov 30, 2025 · YTD
Aug 31, 2025 · Q1
Feb 28, 2025 · YTD
Net Income
$2.8B
$1.8B
$824.0M
$2.4B
Depreciation and amortization
$3.3B
$2.2B
$1.1B
$3.2B
Provision for uncollectible accounts
$694.0M
$469.0M
$219.0M
$382.0M
Other noncash items including leases and deferred income taxes
$2.2B
$1.4B
$718.0M
$2.4B
Stock-based compensation
$136.0M
$99.0M
$56.0M
$116.0M
Separation and other costs, net of payments
$129.0M
$146.0M
$27.0M
—
Business optimization costs, net of payments
($129.0M)
($130.0M)
($110.0M)
$114.0M
Receivables
($1.1B)
($1.3B)
($336.0M)
($692.0M)
Other assets
($241.0M)
($253.0M)
($160.0M)
($68.0M)
Accounts payable and other liabilities
($2.1B)
($725.0M)
($571.0M)
($3.4B)
Other, net
$0
($1.0M)
($43.0M)
$44.0M
Cash provided by operating activities
$5.7B
$3.7B
$1.7B
$4.5B
Capital expenditures
($2.3B)
($1.4B)
($623.0M)
($2.6B)
Purchase of investments
($427.0M)
($326.0M)
($34.0M)
($197.0M)
Proceeds from sale of investments
$254.0M
$177.0M
$30.0M
$77.0M
Proceeds from asset dispositions and other investing activities, net
$73.0M
$49.0M
$8.0M
$42.0M
Cash used in investing activities
($2.4B)
($1.5B)
($619.0M)
($2.7B)
Proceeds from debt issuances
$4.7B
$997.0M
$997.0M
—
Principal payments on debt
($714.0M)
($647.0M)
($625.0M)
($89.0M)
Proceeds from stock issuances
$774.0M
$50.0M
$18.0M
$472.0M
Dividends paid
($1.0B)
($687.0M)
($345.0M)
($1.0B)
Purchases of common stock
($796.0M)
($796.0M)
($500.0M)
($2.5B)
Other
($49.0M)
($9.0M)
($5.0M)
($30.0M)
Cash provided by (used in) financing activities
$2.9B
($1.1B)
($460.0M)
($3.2B)
Effect of exchange rate changes on cash
$85.0M
($27.0M)
$27.0M
($51.0M)
Net increase (decrease) in cash, cash equivalents, and restricted cash
$6.2B
$1.1B
$664.0M
($1.4B)
Cash, cash equivalents, and restricted cash at beginning of period
$5.5B
$5.5B
$5.5B
$6.5B
Cash, cash equivalents, and restricted cash at end of period