FEDEX CORP
FDX · Air Courier Services · 238.6M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $1.3B (gross $1.5B, SBC $182M)
Reference price $363.61 · est. market cap ~$86.8B — last insider sale, 2026-04-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B73Scaled, hard-to-replicate global express network with above-average returns but thin, cyclical margins.
Strengths
- ROE 14.6% (71st pct) and ROA 77th pct with the world's largest all-cargo air fleet as a moat
- Strong absolute cash and DRIVE cost program supporting returns
Risks
- Low net/operating margins in a highly cyclical, fuel- and trade-sensitive business
- Pending Freight spin-off adds execution risk and leaves a less-diversified core
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $5.5B cash & investments
- China exposureAdditional changes to global trade policies could lead to increased tariffs, export controls, quotas, embargoes, or sanctions, which may lead to increased prices or trade limitations for goods transpo
- Insider sellingInsider selling — 8 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$19M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
5.9%
Net margin
4.7%
Return on equity
14.6%
Return on assets
4.7%
ROIC
8.6%
Revenue growth (QoQ)
2.3%
Net-income growth
-5.5%
Debt / equity
0.7×
Net debt / EBITDA
1.5×
Current ratio
1.2×
EBITDA
$9.5B
Tangible book value
$21.3B
Cash & investments
$5.5B
Stock comp / revenue
0.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-25 | Smith Richard W | Grant | 4.7K | — |
| 2026-06-25 | Talwar Vishal | Grant | 4.7K | — |
| 2026-06-25 | MARTIN R BRAD | Grant | 8.7K | — |
| 2026-06-25 | Preet Kawal | Grant | 4.7K | — |
| 2026-06-25 | Ray Scott L | Grant | 4.7K | — |
| 2026-06-25 | Russ Claude F | Grant | 1.6K | — |
| 2026-06-25 | Carere Brie | Grant | 4.7K | — |
| 2026-06-25 | Brightman Tracy B | Grant | 4.7K | — |
| 2026-06-25 | ADAMS GINA F. | Grant | 4.7K | — |
| 2026-06-25 | Subramaniam Rajesh | Grant | 15K | — |
| 2026-06-25 | EDMUNDS MARK A | Grant | 187 | — |
| 2026-06-01 | FEDEX CORP | Other | 119.8M | — |
| 2026-05-05 | Griffith Susan Patricia | Option exercise | 2.8K | $244.88 |
| 2026-05-05 | Griffith Susan Patricia | Option exercise | 1.3K | $247.07 |
| 2026-05-05 | Griffith Susan Patricia | Tax withheld | 2.8K | $361.27 |
| 2026-04-27 | GORMAN STEPHEN E | Option exercise | 4.7K | $146.62 |
| 2026-04-27 | GORMAN STEPHEN E | Tax withheld | 1.8K | $388.46 |
| 2026-04-20 | Subramaniam Rajesh | Option exercise | 9.2K | $261.78 |
| 2026-04-20 | Subramaniam Rajesh | Tax withheld | 16K | $392.44 |
| 2026-04-20 | Subramaniam Rajesh | Option exercise | 12K | $207.31 |
| 2026-04-15 | Brightman Tracy B | Option exercise | 2.8K | $292.13 |
| 2026-04-15 | Brightman Tracy B | Sell | 5.1K | $363.33 |
| 2026-04-15 | Brightman Tracy B | Sell | 9.1K | $363.61 |
| 2026-04-15 | Brightman Tracy B | Option exercise | 7.7K | $229.60 |
| 2026-04-15 | Brightman Tracy B | Option exercise | 1.4K | $294.61 |
| 2026-04-15 | SCHWAB SUSAN C | Sell | 5.8K | $369.00 |
| 2026-04-15 | SCHWAB SUSAN C | Option exercise | 2.8K | $244.88 |
| 2026-04-15 | SCHWAB SUSAN C | Option exercise | 3.0K | $219.26 |
| 2026-04-15 | Brightman Tracy B | Sell | 2.8K | $363.30 |
| 2026-04-14 | ADAMS GINA F. | Option exercise | 7.7K | $130.96 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 350 | $261.78 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 177 | $130.96 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 350 | $294.61 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 1.0K | $227.47 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 1.5K | $226.95 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 1.3K | $229.60 |
| 2026-04-14 | Erwin Guy M II | Option exercise | 552 | $292.13 |
| 2026-04-14 | Erwin Guy M II | Tax withheld | 3.9K | $366.90 |
| 2026-04-14 | MARTIN R BRAD | Option exercise | 4.0K | $174.64 |
| 2026-04-14 | MARTIN R BRAD | Option exercise | 3.0K | $219.26 |
| 2026-04-14 | MARTIN R BRAD | Option exercise | 2.8K | $244.88 |
| 2026-04-14 | MARTIN R BRAD | Option exercise | 5.3K | $147.28 |
| 2026-04-14 | MARTIN R BRAD | Tax withheld | 10K | $366.90 |
| 2026-04-14 | ADAMS GINA F. | Sell | 14K | $366.02 |
| 2026-04-14 | ADAMS GINA F. | Sell | 6.4K | $367.37 |
| 2026-04-14 | Smith Richard W | Gift | 600 | — |
| 2026-04-14 | Smith Richard W | Gift | 600 | — |
| 2026-04-14 | Smith Richard W | Option exercise | 3.8K | $162.82 |
| 2026-04-14 | Smith Richard W | Tax withheld | 2.2K | $366.90 |
| 2026-04-14 | Preet Kawal | Option exercise | 3.4K | $207.31 |
| 2026-04-14 | Preet Kawal | Option exercise | 1.5K | $214.00 |
| 2026-04-14 | Preet Kawal | Sell | 4.9K | $367.89 |
| 2026-04-14 | Carere Brie | Sell | 2.7K | $370.03 |
| 2026-04-14 | ADAMS GINA F. | Option exercise | 5.7K | $162.82 |
| 2026-04-14 | ADAMS GINA F. | Option exercise | 7.1K | $161.85 |
| 2026-03-23 | MARTIN R BRAD | Grant | 4.2K | — |
| 2026-02-18 | Subramaniam Rajesh | Tax withheld | 8.3K | $379.31 |
| 2026-02-18 | Subramaniam Rajesh | Option exercise | 13K | $162.82 |
| 2026-01-07 | Smith Richard W | Gift | 2.3K | — |
| 2025-09-29 | Davila Silvia | Grant | 295 | $236.88 |
| 2025-09-29 | Griffith Susan Patricia | Grant | 823 | — |
| 2025-09-29 | Griffith Susan Patricia | Grant | 591 | $236.88 |
| 2025-09-29 | WALSH PAUL S | Grant | 823 | — |
| 2025-09-29 | Norton Nancy A | Grant | 823 | — |
| 2025-09-29 | SCHWAB SUSAN C | Grant | 823 | — |
| 2025-09-29 | SCHWAB SUSAN C | Grant | 295 | $236.88 |
| 2025-09-29 | Ramo Joshua Cooper | Grant | 823 | — |
| 2025-09-29 | Ramo Joshua Cooper | Grant | 591 | $236.88 |
| 2025-09-29 | Perpall Frederick | Grant | 823 | — |
| 2025-09-29 | GORMAN STEPHEN E | Grant | 823 | — |
| 2025-09-29 | MARTIN R BRAD | Grant | 6.4K | — |
| 2025-09-29 | LANE AMY B | Grant | 823 | — |
| 2025-09-29 | Ellison Marvin R | Grant | 823 | — |
| 2025-09-29 | Davila Silvia | Grant | 823 | — |
| 2025-09-29 | Ellison Marvin R | Grant | 295 | $236.88 |
| 2025-09-22 | Talwar Vishal | Grant | 9.3K | — |
| 2025-07-23 | Ramo Joshua Cooper | Sell | 3.6K | $232.23 |
| 2025-07-23 | Ramo Joshua Cooper | Option exercise | 3.6K | $142.11 |
| 2025-07-09 | Ellison Marvin R | Sell | 3.6K | $236.94 |
| 2025-07-09 | Ellison Marvin R | Option exercise | 3.6K | $142.11 |
| 2025-07-08 | WALSH PAUL S | Option exercise | 3.6K | $142.11 |
| 2025-07-08 | WALSH PAUL S | Sell | 3.6K | $238.29 |
| 2025-07-07 | MARTIN R BRAD | Option exercise | 3.6K | $142.11 |
| 2025-07-07 | MARTIN R BRAD | Sell | 2.1K | $241.75 |
| 2025-06-26 | Erwin Guy M II | Grant | 1.2K | — |
| 2025-06-26 | Smith Richard W | Grant | 6.3K | — |
| 2025-06-26 | Subramaniam Rajesh | Grant | 18K | — |
| 2025-06-26 | Smith John Alan | Grant | 6.3K | — |
| 2025-06-26 | Krishnasamy Sriram | Grant | 6.3K | — |
| 2025-06-26 | DIETRICH JOHN W | Grant | 6.6K | — |
| 2025-06-26 | Carere Brie | Grant | 6.3K | — |
| 2025-06-26 | Brightman Tracy B | Grant | 6.3K | — |
| 2025-06-26 | ADAMS GINA F. | Grant | 6.3K | — |
| 2025-06-23 | Smith Richard W | Inherited | 254K | — |
| 2025-04-11 | SMITH FREDERICK W | Sell | 22K | $201.71 |
| 2025-04-11 | SMITH FREDERICK W | Sell | 850 | $207.25 |
| 2025-04-11 | SMITH FREDERICK W | Sell | 45K | $202.68 |
| 2025-04-11 | SMITH FREDERICK W | Sell | 55K | $203.37 |
| 2025-04-11 | SMITH FREDERICK W | Option exercise | 133K | $180.82 |
| 2025-03-27 | Smith John Alan | Option exercise | 2.8K | $180.82 |
| 2025-03-27 | Smith John Alan | Sell | 2.8K | $243.55 |
| 2025-03-27 | Smith John Alan | Option exercise | 3.3K | $162.82 |
| 2025-03-27 | Smith John Alan | Sell | 3.3K | $243.55 |
| 2025-03-24 | ADAMS GINA F. | Sell | 4.8K | $241.85 |
| 2025-03-24 | ADAMS GINA F. | Option exercise | 4.8K | $180.82 |
| 2025-01-14 | SCHWAB SUSAN C | Option exercise | 4.0K | $174.63 |
| 2025-01-14 | SCHWAB SUSAN C | Sell | 4.0K | $276.45 |
| 2025-01-08 | Smith Richard W | Gift | 130 | — |
| 2025-01-08 | Smith Richard W | Gift | 130 | — |
| 2025-01-07 | Smith Richard W | Sell | 2.6K | $276.93 |
| 2025-01-07 | Smith Richard W | Gift | 20K | — |
| 2025-01-07 | Smith Richard W | Gift | 20K | — |
| 2025-01-07 | Smith Richard W | Gift | 130 | — |
| 2025-01-07 | Smith Richard W | Gift | 130 | — |
| 2025-01-07 | DIETRICH JOHN W | Buy | 1.0K | $273.98 |
| 2025-01-07 | Smith Richard W | Option exercise | 3.2K | $180.82 |
| 2025-01-02 | SMITH FREDERICK W | Gift | 225K | — |
| 2025-01-02 | Smith Richard W | Gift | 24K | — |
| 2025-01-02 | SMITH FREDERICK W | Gift | 225K | — |
| 2025-01-02 | SMITH FREDERICK W | Gift | 223K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (3)
- Dollar General
- Walgreens
- AIR T INC
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-25 | OtherExhibits | filing ↗ |
| 2026-06-23 | ResultsExhibits | filing ↗ |
| 2026-06-08 | Exec/director changeExhibits | filing ↗ |
| 2026-06-01 | Material agreementAcquisition/dispositionExec/director changeOtherExhibits | filing ↗ |
| 2026-05-22 | Other | filing ↗ |
| 2026-05-18 | Exec/director change | filing ↗ |
| 2026-05-13 | OtherExhibits | filing ↗ |
| 2026-05-08 | Exec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-25 | 0001104659-26-077558 ↗ |
| 8-K | 2026-06-23 | 2026-06-23 | 0001048911-26-000050 ↗ |
| 8-K | 2026-06-08 | 2026-06-08 | 0001104659-26-071411 ↗ |
| 8-K | 2026-06-01 | 2026-05-28 | 0001104659-26-068519 ↗ |
| 8-K | 2026-05-22 | 2026-05-22 | 0001104659-26-065767 ↗ |
| 8-K | 2026-05-18 | 2026-05-14 | 0001104659-26-063198 ↗ |
| 8-K | 2026-05-13 | 2026-05-11 | 0001104659-26-060233 ↗ |
| 8-K/A | 2026-05-08 | 2026-04-13 | 0001104659-26-058006 ↗ |
| 8-K | 2026-04-13 | 2026-04-13 | 0001104659-26-042617 ↗ |
| 10-Q | 2026-03-19 | 2026-02-28 | 0001048911-26-000011 ↗ |
| 8-K | 2026-03-19 | 2026-03-19 | 0001048911-26-000010 ↗ |
| 8-K | 2026-03-12 | 2026-03-09 | 0001104659-26-027156 ↗ |