FEDEX CORP

FDX 10-K · Q4 2025

FDX Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 22,220 22,109 +0.5%
Show Business Segments breakouts
Federal Express segment · Operating Segments 18,977 18,792 +1.0%
FedEx Freight
Segment · Operating Segments 2,297 2,387 -3.8%
Show — breakouts
Revenue 3,047 3,799 -19.8%
Revenue 1,711 1,988 -13.9%
Revenue -809 -797 -1.5%
Revenue 3,077 1,982 +55.2%
Revenue 11,814 11,436 +3.3%
Revenue -464 -466 +0.4%
Revenue 5,953 6,783 -12.2%
Revenue -1,818 -1,694 -7.3%
Revenue 65,723 64,545 +1.8%
Revenue 2,223 2,255 -1.4%
Revenue 46,630 45,779 +1.9%
Revenue -1,248 -280 -345.7%
Revenue 31,103 30,310 +2.6%
Revenue 7,736 7,872 -1.7%
Revenue 19,303 18,320 +5.4%
Show Consolidation Items breakouts
Corporate, Other, and Eliminations 946 930 +1.7%
Labor And Related Expense 7,689 7,650 +0.5%
Purchased Transportation Costs 5,359 5,145 +4.2%
Rentals And Landing Fees 1,140 1,137 +0.3%
Depreciation & Amortization 1,057 1,104 -4.3%
Fuel Costs 864 1,141 -24.3%
Cost Of Property Repairs And Maintenance 802 809 -0.9%
Other Cost And Expense Operating 3,372 3,193 +5.6%
Total Costs & Expenses 20,427 20,554 -0.6%
Operating Income 1,793 1,555 +15.3%
Show Business Segments breakouts
Federal Express segment · Operating Segments 1,586 1,305 +21.5%
FedEx Freight
Segment · Operating Segments 477 507 -5.9%
Show Consolidation Items breakouts
Corporate, Other, and Eliminations -270 -257 -5.1%
Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component 564 602 -6.3%
Other Non-Operating Income (Expense) -10 -33 +69.7%
Non-Operating Income (Expense) 430 473 -9.1%
Income Before Taxes 2,223 2,028 +9.6%
Income Tax Expense (Benefit) 575 554 +3.8%
Net Income 1,648 1,474 +11.8%
Show Equity Components breakouts
Retained Earnings 1,648 1,474 +11.8%
EPS (Basic) 6.87 5.98 +14.9%
EPS (Diluted) 6.82 5.9 +15.6%
Comprehensive Income 1,785 1,450 +23.1%
Other Comprehensive Income 137 -24 +670.8%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 137 -24 +670.8%
Wtd Avg Shares (Basic) -1 -1 0.0%
Wtd Avg Shares (Diluted) -1 -1 0.0%
Net Income Loss Available To Common Stockholders Basic 1,646 1,472 +11.8%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 5,502 6,501 -15.4%
Receivables Net Current 11,368 10,087 +12.7%
Spare Parts Supplies And Fuel Less Allowances 602 614 -2.0%
Prepaid Expenses & Other Current Assets 914 1,005 -9.1%
Total Current Assets 18,386 18,207 +1.0%
Non-Current Assets
Property, Plant & Equipment 41,642 41,491 +0.4%
Show Property Plant And Equipment By Type breakouts
Facilities and other 8,474 8,324 +1.8%
Information technology 1,568 1,722 -8.9%
Narrow-body and feeder aircraft and related equipment 1,750 1,849 -5.4%
Package handling and ground support equipment 7,573 7,607 -0.4%
Vehicles and trailers 4,075 4,053 +0.5%
Wide-body aircraft and related equipment 18,202 17,936 +1.5%
Operating Lease Right-of-Use Assets 16,453 17,115 -3.9%
Goodwill 6,603 6,423 +2.8%
Show Business Segments breakouts
Federal Express segment · Operating Segments 5,949 5,769 +3.1%
FedEx Freight
Segment · Operating Segments 638 638 0.0%
Show Consolidation Items breakouts
Corporate, Other, and Eliminations 16 16 0.0%
Other Non-Current Assets 4,543 3,771 +20.5%
Total Assets 87,627 87,007 +0.7%
Show Business Segments breakouts
Federal Express segment · Operating Segments 74,154 73,259 +1.2%
FedEx Freight
Segment · Operating Segments 12,899 11,615 +11.1%
Show Consolidation Items breakouts
Corporate, Other, and Eliminations 574 2,133 -73.1%
Intangible Assets 205 181 +13.3%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 126 165 -23.6%
Technology Based Intangible Assets 79 16 +393.8%
Deferred Tax Assets 1,116 1,313 -15.0%
Other Assets
Property Plant And Equipment Gross 87,622 84,391 +3.8%
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment 45,980 42,900 +7.2%
Other Long Term Assets Noncurrent Excluding Property And Equipment 27,599 27,309 +1.1%
Current Liabilities
Long Term Debt And Capital Lease Obligations Current 1,428 68 +2000.0%
Employee Related Liabilities Current 2,731 2,673 +2.2%
Accounts Payable 3,692 3,189 +15.8%
Operating Lease Liability Current 2,565 2,463 +4.1%
Accrued Liabilities 4,995 4,962 +0.7%
Total Current Liabilities 15,411 13,355 +15.4%
Deferred Revenue (Current) 23 23 0.0%
Non-Current Liabilities
Deferred Tax Liabilities 4,205 4,482 -6.2%
Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent 1,698 2,010 -15.5%
Self Insurance Reserve Noncurrent 4,033 3,701 +9.0%
Operating Lease Liabilities 14,272 15,053 -5.2%
Other Non-Current Liabilities 783 689 +13.6%
Liabilities Other Than Longterm Debt Noncurrent 24,991 25,935 -3.6%
Long-Term Debt 19,899
Show Debt Instrument breakouts
Euro Senior Unsecured Debt Due 2026 0.45% 569 542 +5.0%
Euro Senior Unsecured Debt Due 2027 1.625% 1,422 1,353 +5.1%
Euro Senior Unsecured Debt Due 2029 0.45% 679 647 +4.9%
Euro Senior Unsecured Debt Due 2032 1.30% 566 539 +5.0%
Euro Senior Unsecured Debt Due 2033 0.95% 734 699 +5.0%
Senior Secured Debt Due 2034 1.875% 729 780 -6.5%
Senior Unsecured Debt 19,170 18,992 +0.9%
Senior Unsecured Debt Due 2026 3.25% 749 748 +0.1%
Senior Unsecured Debt Due 2028 3.40% 498 498 0.0%
Senior Unsecured Debt Due 2029 4.20% 398 398 0.0%
Senior Unsecured Debt Due 2030 3.10-4.25% 1,738 1,739 -0.1%
Senior Unsecured Debt Due 2031 2.40% 992 992 0.0%
Senior Unsecured Debt Due 2034 4.90% 496 497 -0.2%
Senior Unsecured Debt Due 2035 3.90% 495 495 0.0%
Senior Unsecured Debt Due 2041 3.25% 740 740 0.0%
Senior Unsecured Debt Due 2043 3.875-4.10% 985 986 -0.1%
Senior Unsecured Debt Due 2044 5.10% 742 743 -0.1%
Senior Unsecured Debt Due 2045 4.10% 641 642 -0.2%
Senior Unsecured Debt Due 2046 4.55-4.75% 2,462 2,464 -0.1%
Senior Unsecured Debt Due 2047 4.40% 736 737 -0.1%
Senior Unsecured Debt Due 2048 4.05% 986 987 -0.1%
Senior Unsecured Debt Due 2049 4.95% 835 836 -0.1%
Senior Unsecured Debt Due 2050 5.25% 1,225 1,227 -0.2%
Senior Unsecured Debt Due 2065 4.50% 245 246 -0.4%
Senior Unsecured Debt Due 2098 7.60% 237 237 0.0%
Other Liabilities
Long Term Debt And Capital Lease Obligations 19,151 20,135 -4.9%
Stockholders' Equity
Common Stock 32 32 0.0%
Additional Paid In Capital Common Stock 4,290 3,988 +7.6%
Retained Earnings 41,402 38,649 +7.1%
Accumulated Other Comprehensive Income -1,362 -1,359 -0.2%
Treasury Stock Value -16,288 -13,728 -18.6%
Total Stockholders' Equity 28,074 27,582 +1.8%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 58 63 -7.9%
Accumulated Other Comprehensive Income -1,362 -1,359 -0.2%
Accumulated Translation Adjustment -1,420 -1,422 +0.1%
Additional Paid In Capital 4,290 3,988 +7.6%
Common Stock 32 32 0.0%
Retained Earnings 41,402 38,649 +7.1%
Treasury Stock Common -16,288 -13,728 -18.6%
Total Liabilities & Equity 87,627 87,007 +0.7%
Aircraft And Related Equipment 31,584 30,525 +3.5%
Package Handling And Ground Support Equipment 18,878 17,880 +5.6%
Information Technology 9,706 9,203 +5.5%
Vehicles And Trailers 10,949 10,568 +3.6%
Facilities And Other 16,505 16,215 +1.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Provision For Doubtful Accounts 139 98 +41.8%
Other Non-Cash Items 803 778 +3.2%
Stock-Based Compensation 38 33 +15.2%
Increase Decrease In Receivables -1,088 -160 -580.0%
Increase Decrease In Other Operating Capital Net -56 -13 -330.8%
Net Cash from Operations 2,519 2,698 -6.6%
Investing Activities
Payments To Acquire Productive Assets -1,473 -1,202 -22.5%
Payments To Acquire Investments -65 -66 +1.5%
Proceeds From Sale Of Property Plant And Equipment 73 20 +265.0%
Net Cash from Investing -1,432 -1,234 -16.0%
Financing Activities
Repayments Of Long Term Debt And Capital Securities -68 -4 -1600.0%
Proceeds From Issuance Or Sale Of Equity 52 226 -77.0%
Payments Of Dividends -331 -310 -6.8%
Share Repurchases -500 -500 0.0%
Proceeds From Payments For Other Financing Activities 0 -4 +100.0%
Net Cash from Financing -847 -592 -43.1%
Supplemental
Income Taxes Paid 53 265 -80.0%
Interest Paid 232 206 +12.6%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 127 -15 +946.7%
Net Change in Cash 367 857 -57.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 5,502 6,501 -15.4%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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