Fedex (FDX) Cost of Revenue (2009 - 2026)

Fedex has disclosed Cost of Revenue across 18 years of filings, most recently posting $3.5 billion for Q1 2026.

• Cost of Revenue for Q1 2026 came in at $3.5 billion, up 7.77% year-over-year; the trailing twelve-month figure through Feb 2026 was $31.4 billion (up 48.76% YoY), and the FY2025 annual result was $21.8 billion, up 4.05% from the prior year.
• Cost of Revenue came in at $3.5 billion for Q1 2026 at Fedex, roughly flat from $3.5 billion in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $18.9 billion in Q2 2025 to a low of -$10.9 billion in Q2 2023.
• The 5-year median for Cost of Revenue is $3.5 billion (2022), against an average of $4.0 billion.
• Peak annual rise in Cost of Revenue reached 349.79% in 2023, while the deepest fall reached 720.74% in 2023.
• Fedex's Cost of Revenue stood at $3.4 billion in 2022, then soared by 57.33% to $5.4 billion in 2023, then slumped by 40.67% to $3.2 billion in 2024, then advanced by 9.68% to $3.5 billion in 2025, then declined by 0.09% to $3.5 billion in 2026.
• The last three Cost of Revenue figures came in at $3.5 billion (Q1 2026), $3.5 billion (Q4 2025), and $5.5 billion (Q3 2025), per Business Quant data.