Fedex (FDX) Gross Margin (2009 - 2026)

Fedex (FDX) posted Gross Margin of 75.35% for Q2 2026, up 0.94% sequentially from 74.65% in Q1 2026, and up 3001.0% YoY from 2.43% in Q2 2025.

Fedex (FDX) Gross Margin (2009 - 2026) Analysis & Trends

Fedex has reported Gross Margin for 18 years, with the latest figure at 75.35% in Q2 2026.

Quarterly Gross Margin rose 3001.0% year-over-year to 75.35% in Q2 2026, while the trailing twelve-month figure through May 2026 was 75.06% (up 514.0% YoY) and the FY2026 annual result came in at 75.06%, down 18.0% from the prior year.
Gross Margin rose to 75.35% in Q2 2026 per FDX's latest filing, from 74.65% in the prior quarter.
Over five years, Gross Margin peaked at 85.6% in Q3 2023 and troughed at 41.63% in Q2 2022.
A 5-year average of 74.13% and a median of 75.51% in 2023 frame the typical range for Gross Margin.
The sharpest annual moves came in 2022 and 2023: Gross Margin plunged 3342 bps in 2022, then jumped 3577 bps in 2023.
Over 5 years, Gross Margin stood at 84.97% in 2022, then decreased by 11 bps to 75.66% in 2023, then dropped by 1 bps to 74.96% in 2024, then dropped by 0 bps to 74.92% in 2025, then increased by 1 bps to 75.35% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 75.35%, 74.65%, and 74.92% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	United Parcel Service	87.24 Bn	82.59 Bn	19.65 Bn	86.04%
2	Fedex	77.35 Bn	64.04 Bn	18.84 Bn	75.35%
3	Hunt J B Transport Services	25.86 Bn	25.86 Bn	-	-
4	Expeditors International Of Washington	24.43 Bn	23.40 Bn	1.09 Bn	30.99%
5	C. H. Robinson Worldwide	17.04 Bn	16.89 Bn	1.11 Bn	22.41%
6	ZTO Express (Cayman)	17.03 Bn	12.62 Bn	469.01 Mn	24.36%
7	Landstar System	6.19 Bn	5.84 Bn	308.86 Mn	21.56%
8	GXO Logistics	5.22 Bn	4.45 Bn	508.00 Mn	14.76%
9	Pitney Bowes	2.21 Bn	1.93 Bn	296.14 Mn	65.59%
10	Cryoport	842.14 Mn	445.45 Mn	22.82 Mn	46.61%

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