TTM
6.5%
YoY change
−0.33pp
Trough year (1997)
-20.6%
Peak year (1992)
22.4%
Latest annual
6.9%
Operating Margin history chart for FedEx (FDX) from 1986 to 2025
Latest: 6.9%
Operating Margin change chart for FedEx (FDX) from 1986 to 2025
Latest: −0.33pp
Operating Margin history table for FedEx (FDX) from 1986 to 2025
| 2025 | 6.9% | -0.33pp | ||
| 2024 | 7.2% | +1.33pp | ||
| 2023 | 5.9% | -1.05pp | ||
| 2022 | 7.0% | -0.21pp | ||
| 2021 | 7.2% | +3.06pp | ||
| 2020 | 4.1% | -2.75pp | ||
| 2019 | 6.9% | -0.97pp | ||
| 2018 | 7.8% | -1.16pp | ||
| 2017 | 9.0% | +2.01pp | ||
| 2016 | 7.0% | +2.05pp | ||
| 2015 | 4.9% | -2.63pp | ||
| 2014 | 7.6% | +0.31pp | ||
| 2013 | 7.3% | -0.53pp | ||
| 2012 | 7.8% | +1.50pp | ||
| 2011 | 6.3% | +0.47pp | ||
| 2010 | 5.8% | +0.31pp | ||
| 2009 | 5.5% | -2.29pp | ||
| 2008 | 7.8% | -1.51pp | ||
| 2007 | 9.3% | -0.03pp | ||
| 2006 | 9.3% | +0.92pp | ||
| 2005 | 8.4% | +2.59pp | ||
| 2004 | 5.8% | -0.71pp | ||
| 2003 | 6.5% | +0.13pp | ||
| 2002 | 6.4% | +0.95pp | ||
| 2001 | 5.5% | -1.23pp | ||
| 2000 | 6.7% | -0.25pp | ||
| 1999 | 6.9% | +0.57pp | ||
| 1998 | 6.4% | +26.94pp | ||
| 1997 | -20.6% | -0.89pp | ||
| 1996 | -19.7% | -2.16pp | ||
| 1995 | -17.5% | -19.11pp | ||
| 1994 | 1.6% | -17.94pp | ||
| 1993 | 19.5% | -2.87pp | ||
| 1992 | 22.4% | +0.96pp | ||
| 1991 | 21.4% | +1.78pp | ||
| 1990 | 19.7% | +11.23pp | ||
| 1989 | 8.4% | -1.33pp | ||
| 1988 | 9.8% | -1.91pp | ||
| 1987 | 11.7% | +4.21pp | ||
| 1986 | 7.5% | — |
- 20256.9%-0.33pp
- 20247.2%+1.33pp
- 20235.9%-1.05pp
- 20227.0%-0.21pp
- 20217.2%+3.06pp
- 20204.1%-2.75pp
- 20196.9%-0.97pp
- 20187.8%-1.16pp
- 20179.0%+2.01pp
- 20167.0%+2.05pp
- 20154.9%-2.63pp
- 20147.6%+0.31pp
- 20137.3%-0.53pp
- 20127.8%+1.50pp
- 20116.3%+0.47pp
- 20105.8%+0.31pp
- 20095.5%-2.29pp
- 20087.8%-1.51pp
- 20079.3%-0.03pp
- 20069.3%+0.92pp
- 20058.4%+2.59pp
- 20045.8%-0.71pp
- 20036.5%+0.13pp
- 20026.4%+0.95pp
- 20015.5%-1.23pp
- 20006.7%-0.25pp
- 19996.9%+0.57pp
- 19986.4%+26.94pp
- 1997-20.6%-0.89pp
- 1996-19.7%-2.16pp
- 1995-17.5%-19.11pp
- 19941.6%-17.94pp
- 199319.5%-2.87pp
- 199222.4%+0.96pp
- 199121.4%+1.78pp
- 199019.7%+11.23pp
- 19898.4%-1.33pp
- 19889.8%-1.91pp
- 198711.7%+4.21pp
- 19867.5%—
Operating 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 Operating Margin at FedEx (FDX)
According to FedEx's latest reported financial statements, the company's latest reported operating margin is 6.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of FedEx (FDX) operating margin is 6.92% – contracted 0.3 percentage points year-over-year.
The record annual operating margin stands at 22.39%, reached in 1992; the historical low of -20.57% was recorded in 1997.
FedEx Operating Margin by Year
FedEx Operating Margin 2025: 6.9%
2025's operating margin for FedEx came in at 6.92%, contracted 0.3 percentage points from 2024.
FedEx Operating Margin 2024: 7.2%
FedEx posted operating margin of 7.25% in 2024, expanded 1.3 percentage points from 2023.
FedEx Operating Margin 2023: 5.9%
In 2023, FedEx reported operating margin of 5.92%, contracted 1.1 percentage points from 2022.
FedEx Operating Margin 2022: 7.0%
FedEx operating margin in 2022 was 6.98%, contracted 0.2 percentage points from 2021.
FedEx Operating Margin 2021: 7.2%
FedEx operating margin in 2021 was 7.18%.
See more financial history for FedEx (FDX).
Sector peers by Operating Margin
Industrials peers of FedEx (FDX), ranked by their latest operating margin
| 40.1% | |
| 18.5% | |
| 18.1% | |
| 17.9% | |
| 16.6% | |
| 14.9% | |
| 10.9% | |
| -5.9% |
- 40.1%
- 18.5%
- 17.9%
- 16.6%
- 10.9%
- -5.9%
Frequently asked questions
FedEx (FDX) Key Financials
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