TTM
24.4%
YoY change
−0.01pp
Trough year (2020)
19.3%
Peak year (1998)
91.9%
Latest annual
21.6%
Gross Margin history chart for FedEx (FDX) from 1986 to 2025
Latest: 21.6%
Gross Margin change chart for FedEx (FDX) from 1986 to 2025
Latest: −0.01pp
Gross Margin history table for FedEx (FDX) from 1986 to 2025
| 2025 | 21.6% | -0.01pp | ||
| 2024 | 21.6% | +0.35pp | ||
| 2023 | 21.3% | -0.31pp | ||
| 2022 | 21.6% | +0.34pp | ||
| 2021 | 21.2% | +1.95pp | ||
| 2020 | 19.3% | -2.00pp | ||
| 2019 | 21.3% | -0.27pp | ||
| 2018 | 21.5% | -1.27pp | ||
| 2017 | 22.8% | -0.66pp | ||
| 2016 | 23.5% | +0.83pp | ||
| 2015 | 22.6% | +2.08pp | ||
| 2014 | 20.6% | +0.51pp | ||
| 2013 | 20.1% | -0.35pp | ||
| 2012 | 20.4% | +0.59pp | ||
| 2011 | 19.8% | +0.12pp | ||
| 2010 | 19.7% | -0.26pp | ||
| 2009 | 20.0% | -1.79pp | ||
| 2008 | 21.7% | -1.06pp | ||
| 2007 | 22.8% | -0.41pp | ||
| 2006 | 23.2% | +0.43pp | ||
| 2005 | 22.8% | -61.69pp | ||
| 2004 | 84.5% | +0.51pp | ||
| 2003 | 84.0% | +1.24pp | ||
| 2002 | 82.7% | -0.46pp | ||
| 2001 | 83.2% | +0.04pp | ||
| 2000 | 83.1% | -8.53pp | ||
| 1999 | 91.7% | -0.23pp | ||
| 1998 | 91.9% | +44.15pp | ||
| 1997 | 47.8% | -0.96pp | ||
| 1996 | 48.7% | -2.93pp | ||
| 1995 | 51.6% | -10.10pp | ||
| 1994 | 61.7% | +0.87pp | ||
| 1993 | 60.9% | +1.38pp | ||
| 1992 | 59.5% | +2.60pp | ||
| 1991 | 56.9% | +0.75pp | ||
| 1990 | 56.1% | -9.66pp | ||
| 1989 | 65.8% | +21.54pp | ||
| 1988 | 44.3% | -25.34pp | ||
| 1987 | 69.6% | -4.34pp | ||
| 1986 | 73.9% | — |
- 202521.6%-0.01pp
- 202421.6%+0.35pp
- 202321.3%-0.31pp
- 202221.6%+0.34pp
- 202121.2%+1.95pp
- 202019.3%-2.00pp
- 201921.3%-0.27pp
- 201821.5%-1.27pp
- 201722.8%-0.66pp
- 201623.5%+0.83pp
- 201522.6%+2.08pp
- 201420.6%+0.51pp
- 201320.1%-0.35pp
- 201220.4%+0.59pp
- 201119.8%+0.12pp
- 201019.7%-0.26pp
- 200920.0%-1.79pp
- 200821.7%-1.06pp
- 200722.8%-0.41pp
- 200623.2%+0.43pp
- 200522.8%-61.69pp
- 200484.5%+0.51pp
- 200384.0%+1.24pp
- 200282.7%-0.46pp
- 200183.2%+0.04pp
- 200083.1%-8.53pp
- 199991.7%-0.23pp
- 199891.9%+44.15pp
- 199747.8%-0.96pp
- 199648.7%-2.93pp
- 199551.6%-10.10pp
- 199461.7%+0.87pp
- 199360.9%+1.38pp
- 199259.5%+2.60pp
- 199156.9%+0.75pp
- 199056.1%-9.66pp
- 198965.8%+21.54pp
- 198844.3%-25.34pp
- 198769.6%-4.34pp
- 198673.9%—
Gross Margin values are taken from FedEx's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Gross Margin at FedEx (FDX)
According to FedEx's latest reported financial statements, the company's latest reported gross margin is 24.4%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual gross margin for FedEx (FDX) came in at 21.60% – contracted 0.0 percentage points year-over-year.
91.90% stands as the all-time-high annual gross margin, posted in 1998, against a low of 19.28% during 2020.
FedEx Gross Margin by Year
FedEx Gross Margin 2025: 21.6%
FedEx gross margin in 2025 was 21.60%, contracted 0.0 percentage points from 2024.
FedEx Gross Margin 2024: 21.6%
2024's gross margin for FedEx came in at 21.61%, expanded 0.4 percentage points from 2023.
FedEx Gross Margin 2023: 21.3%
FedEx posted gross margin of 21.26% in 2023, contracted 0.3 percentage points from 2022.
FedEx Gross Margin 2022: 21.6%
In 2022, FedEx reported gross margin of 21.57%, expanded 0.3 percentage points from 2021.
FedEx Gross Margin 2021: 21.2%
FedEx gross margin in 2021 was 21.23%.
See more financial history for FedEx (FDX).
Sector peers by Gross Margin
Industrials peers of FedEx (FDX), ranked by their latest gross margin
| 45.7% | |
| 36.9% | |
| 36.9% | |
| 35.1% | |
| 34.8% | |
| 32.5% | |
| 20.2% | |
| 4.8% |
- 45.7%
- 35.1%
- 34.8%
- 32.5%
- 20.2%
- 4.8%
Frequently asked questions
FedEx (FDX) Key Financials
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