Fedex (FDX) Operating Expenses (2009 - 2026)
Fedex (FDX) posted Operating Expenses of $23.5 billion for Q2 2026, up 3.55% sequentially from $22.7 billion in Q1 2026, and up 14.83% YoY from $20.4 billion in Q2 2025.
Fedex (FDX) Operating Expenses (2009 - 2026) Analysis & Trends
Fedex has reported Operating Expenses for 18 years, with the latest figure at $23.5 billion in Q2 2026.
- Quarterly Operating Expenses rose 14.83% year-over-year to $23.5 billion in Q2 2026, while the trailing twelve-month figure through May 2026 was $89.3 billion (up 7.92% YoY) and the FY2026 annual result came in at $89.3 billion, up 7.92% from the prior year.
- Operating Expenses climbed to $23.5 billion in Q2 2026 per FDX's latest filing, from $22.7 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $23.5 billion in Q2 2026 and troughed at $20.2 billion in Q3 2023.
- A 5-year average of $21.3 billion and a median of $21.0 billion in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2026: Operating Expenses slipped 9.09% in 2023, then grew 14.83% in 2026.
- Over 5 years, Operating Expenses stood at $21.6 billion in 2022, then slipped by 3.46% to $20.9 billion in 2023, then advanced by 0.12% to $20.9 billion in 2024, then climbed by 5.62% to $22.1 billion in 2025, then climbed by 6.18% to $23.5 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $23.5 billion, $22.7 billion, and $22.1 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 87.24 Bn | 82.59 Bn | 19.65 Bn | 21.90 Bn |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 23.46 Bn |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | 3.24 Bn |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | 3.15 Bn |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 4.68 Bn |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | -100.02 Mn |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | 1.37 Bn |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 389.00 Mn |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | 386.01 Mn |
| 10 | Cryoport | 842.14 Mn | 445.45 Mn | 22.82 Mn | 32.86 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 23.46 Bn |
| Feb 28, 2026 | 22.65 Bn |
| Nov 30, 2025 | 22.09 Bn |
| Aug 31, 2025 | 21.06 Bn |
| May 31, 2025 | 20.43 Bn |
| Feb 28, 2025 | 20.87 Bn |
| Nov 30, 2024 | 20.92 Bn |
| Aug 31, 2024 | 20.50 Bn |
| May 31, 2024 | 20.55 Bn |
| Feb 29, 2024 | 20.50 Bn |
| Nov 30, 2023 | 20.89 Bn |
| Aug 31, 2023 | 20.20 Bn |
| May 31, 2023 | 20.43 Bn |
| Feb 28, 2023 | 21.13 Bn |
| Nov 30, 2022 | 21.64 Bn |
| Aug 31, 2022 | 22.05 Bn |
| May 31, 2022 | 22.47 Bn |
| Feb 28, 2022 | 22.32 Bn |
| Nov 30, 2021 | 21.88 Bn |
| Aug 31, 2021 | 20.61 Bn |