FDXFedEx
FedEx Corporation (“FedEx”) was incorporated in Delaware on October 2, 1997 to serve as the parent holding company and provide strategic direction to the FedEx portfolio of companies. 10-K, Item 1
- Employees
- 12,000
- Headquarters
- Memphis, TN
- CEO
- Rajesh Subramaniam
- Next results
- around Dec 17, 2026
The biggest changes in the 10-K filed 2026-07-20, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Cash from operations
+26.8% Big change FY to 2026-05-31 vs 2025-05-31“Cash flows from operating activities increased $1.9 billion in 2026 primarily due to higher net income, net of non-cash adjustments, and favorable working capital changes driven by increases in accruals for variable incentive compensation, self-insurance, and professional fees, partially offset by an increase in accounts receivable.”
Read it in the 10-K ↗
Net income
+8.3% FY to 2026-05-31 vs 2025-05-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
+7.7% FY to 2026-05-31 vs 2025-05-31“Revenue increased 8% in 2026 primarily due to improved base yields for our package services, increased U.S. domestic package volumes, higher fuel surcharges, and favorable exchange rates, partially offset by the negative impacts from the expiration of our contract with the U.S.”
Read it in the 10-K ↗
“Federal Express segment revenue increased 9% in 2026 primarily due to improved package base yields, increased U.S. domestic package volumes, higher fuel surcharges, favorable exchange rates, and growth in international freight volumes, partially offset by negative impacts from the expiration of our contract with the U.S.”
Read it in the 10-K ↗
Operating margin
5.9% → 5.8% (-0.2 pts) FY to 2026-05-31 vs 2025-05-31“Operating income increased in 2026 primarily due to improved base yields for our package services, increased U.S. domestic package volumes and higher fuel surcharges, combined with the continued structural cost reductions from business optimization initiatives, including from DRIVE initiatives commenced in prior years.”
Read it in the 10-K ↗
“Other operating expenses increased 8% in 2026 primarily due to increased credit losses, higher outside service contracts and professional fees, and unfavorable exchange rates.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on FDX in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/FDX/export.csv") into a cell.