FedEx (FDX) stock
Industrials · Air Freight & Logistics
FedEx (FDX) is an Air Freight & Logistics company in the Industrials sector, headquartered in Memphis, Tennessee. As of October 23, 2026, FDX closed at $298.72, a market capitalization of $70.70 billion, the 178th largest company in the S&P 500. Over the last twelve months it generated $94.72 billion in revenue (+12% year over year) and $5.12 billion in free cash flow. The stock trades at 16.1x trailing earnings and 14.4x forward earnings.
- 1-year total return: +58.3% (dividends reinvested)
- 5-year return: +11.9% a year
- 52-week range: $196.86 – $345.37
- Gross margin 27.3%, operating margin 11.1%
- Dividend yield: 1.63%, 5 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 30th largest of 83 Industrials stocks in the S&P 500
FDX price chart
1Y price change: +55.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| FDX | +2.5% | +29.8% | +58.3% | +18.3% | +11.9% | +9.8% | +13.6% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1978.
FDX key statistics
- Market cap
- $70.7B
- #178 in S&P 500
- P/E (TTM)
- 16.1x
- Forward P/E
- 14.4x
- EPS (TTM)
- $18.55
- Revenue (TTM)
- $94.7B
- +13%
- Free cash flow
- $5.1B
- Gross margin
- 27.3%
- Operating margin
- 11.1%
- Return on equity
- 14.8%
- Dividend yield
- 1.63%
- 52-week range
- $196.86 – $345.37
- Beta
- 1.33
- Price / sales
- 0.7x
- EV / EBITDA
- 8.4x
- Debt / equity
- 1.36x
- Employees
- 300,000
FDX report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth12.5%B
- Gross margin27.3%C
- Operating margin11.1%C
- FCF margin5.4%D
- Return on equity14.8%C
- Net debt / EBITDA2.5xD
- Forward P/E14.4xA
- PEG ratio1.3xB
- Shareholder yield2.8%C
- Share count change / yr-6.4%A
FedEx financials
Revenue went from $60.3B in fiscal 2017 to $94.7B in fiscal 2026, growing 5.1% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $60.3B | $65.5B | $69.7B | $69.2B | $84.0B | $93.5B | $90.2B | $87.7B | $87.9B | $94.7B |
| Gross profit | $46.7B | $50.3B | $53.0B | — | — | — | — | — | — | — |
| Operating income | $4.6B | $4.3B | $4.5B | $2.4B | $5.9B | $6.2B | $4.9B | $5.6B | $5.2B | $5.5B |
| Net income | $3.0B | $4.6B | $540.0M | $1.3B | $5.2B | $3.8B | $4.0B | $4.3B | $4.1B | $4.4B |
| EPS (diluted) | $8.92 | $13.53 | $1.64 | $3.95 | $15.67 | $11.55 | $12.47 | $17.21 | $16.81 | $18.55 |
| Free cash flow | -$186.0M | -$989.0M | $123.0M | -$771.0M | $4.3B | $3.1B | $2.7B | $3.1B | $3.0B | $5.1B |
| Buybacks | $509.0M | $1.0B | $1.5B | $3.0M | — | $2.2B | $1.5B | $2.5B | $3.0B | $796.0M |
| Dividends paid | $426.0M | $535.0M | $683.0M | $679.0M | $686.0M | $793.0M | $1.2B | $1.3B | $1.3B | $1.4B |
| Diluted shares | 335.1M | 337.6M | 328.9M | 325.1M | 332.6M | 330.1M | 317.7M | 251.0M | 243.0M | 239.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into FDX?
A reverse DCF asks what growth the current price requires. With an enterprise value of $100.1B and $5.1B of trailing free cash flow, FedEx needs to grow free cash flow about 10.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 3.8% a year over the last five years.
P/E ratio history
Current 16.1x vs. median 18.8x (10th–90th percentile 11.9x–64.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
FDX dividend
- Dividend yield
- 1.63%
- Annual dividend
- $4.88
- Years of increases
- 5
- 5-yr dividend growth
- 17.1%
- per year
- Payout ratio
- 31%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
FDX analyst price targets
26 analysts' average 12-month target is $356.27 (+19% vs. $298.72). Targets range from $160.00 to $479.00. 71% rate it a buy.
FDX earnings
Next report: October 12, 2026. FedEx has beaten EPS estimates 5 quarters in a row. Last quarter's revenue was $25.0B (+13% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jun 23, 2026 | $5.92 | $6.31 | +6.5% |
| Mar 19, 2026 | $4.18 | $5.25 | +25.5% |
| Dec 18, 2025 | $4.11 | $4.82 | +17.2% |
| Sep 18, 2025 | $3.61 | $3.83 | +6.0% |
| Jun 24, 2025 | $5.80 | $6.07 | +4.6% |
| Mar 20, 2025 | $4.63 | $4.51 | -2.6% |
| Dec 19, 2024 | $3.97 | $4.05 | +2.1% |
| Sep 19, 2024 | $4.77 | $3.60 | -24.5% |
Stocks like FDX
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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FDX news
- Leaner Machine, Heavier Costs: Can FedEx Deliver Margin Growth on Oct. 28 After Freight Spinoff? · Oct 24, 2026
- Where Did UPS Fall Behind FedEx? · Oct 23, 2026
- FedEx (FDX) Is Leaner After Its Freight Spin, but Can Earnings Catch Up? · Oct 21, 2026
- Broadcom Announces Continued Infrastructure Agreement with FedEx to Support Global Operations · Oct 20, 2026
- FedEx Freight (FDXF) Collects More per Shipment as Volume Shrinks, Can Margins Recover? · Oct 21, 2026
FDX stock FAQ
What is FDX's market cap?
FedEx's market capitalization is $70.70 billion as of October 23, 2026, ranking 178th in the S&P 500.
What is FDX's P/E ratio?
FDX trades at a trailing price-to-earnings ratio of 16.1x and a forward P/E of 14.4x. Its median P/E over the period we track is 18.8x.
Does FDX pay a dividend?
Yes. FedEx pays $4.88 per share a year, a 1.63% yield. It has raised its dividend 5 years in a row. Dividends grew 17.1% a year over the last five years.
How much has FDX stock returned?
Including reinvested dividends, FDX returned +58.3% over one year, +11.9% a year over five years, +9.8% a year over ten years through October 23, 2026.
Is FDX stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies FedEx must grow free cash flow about 10% a year for the next decade. Its free cash flow grew 4% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the FDX price target?
26 analysts cover FDX with an average 12-month price target of $356.27, +19% from the current price. 71% of them rate it a buy.
When does FDX report earnings?
FedEx is expected to report earnings on October 12, 2026. It has beaten EPS estimates 5 quarters in a row.
How many employees does FedEx have?
FedEx has about 300,000 full-time employees, or $315,733 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology