Fedex (FDX) Operating Margin (2009 - 2026)
Fedex (FDX) posted Operating Margin of 6.20% for fiscal Q4 2026 (quarter ended May 31, 2026), down 1.87 percentage points from 8.07% a year earlier but up 0.59 percentage points from the prior quarter.
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Analysis
Fedex (FDX) Operating Margin (2009 - 2026) Analysis & Trends
For FY2026 (ended May 31, 2026), Fedex's Operating Margin came in at 5.77%, down 0.17 percentage points from FY2025.
- Annual Operating Margin shows a five-year change of -1.21 percentage points (FY2021 to FY2026).
- In prior fiscal years, Fedex's Operating Margin was 5.93% in FY2025 (-0.41 pp), 6.34% in FY2024 (+0.89 pp), 5.45% in FY2023 (-1.23 pp) and 6.68% in FY2022 (-0.30 pp).
- Quarterly Operating Margin has run from a low of 4.70% in fiscal Q3 2023 to a high of 8.07% in fiscal Q4 2025 over five years.
- On a year-over-year basis, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -0.29 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was fiscal Q1 2024, with a gain of 1.72 percentage points; the weakest was fiscal Q1 2022, with a drop of 1.88 percentage points.
- According to Business Quant data, Operating Margin for the three prior fiscal quarters was 5.62% (Q3 2026), 5.87% (Q2 2026) and 5.33% (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 171.78 Bn | 166.31 Bn | - | 40.25% |
| 2 | Csx | 89.74 Bn | 85.94 Bn | - | 38.27% |
| 3 | United Parcel Service | 84.16 Bn | 61.05 Bn | - | 4.07% |
| 4 | Canadian Pacific Kansas City | 77.97 Bn | 76.99 Bn | - | 35.35% |
| 5 | Norfolk Southern | 73.59 Bn | 68.23 Bn | - | 32.44% |
| 6 | Fedex | 70.77 Bn | 36.72 Bn | - | 6.20% |
| 7 | Delta Air Lines | 51.25 Bn | 33.44 Bn | - | 7.20% |
| 8 | Old Dominion Freight Line | 39.22 Bn | 38.49 Bn | - | 29.94% |
| 9 | United Airlines Holdings | 33.00 Bn | -23.37 Bn | - | 6.20% |
| 10 | Ryanair Holdings | 28.70 Bn | 12.35 Bn | - | 13.12% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 6.20% |
| Feb 28, 2026 | 5.62% |
| Nov 30, 2025 | 5.87% |
| Aug 31, 2025 | 5.33% |
| May 31, 2025 | 8.07% |
| Feb 28, 2025 | 5.83% |
| Nov 30, 2024 | 4.79% |
| Aug 31, 2024 | 5.00% |
| May 31, 2024 | 7.03% |
| Feb 29, 2024 | 5.72% |
| Nov 30, 2023 | 5.76% |
| Aug 31, 2023 | 6.85% |
| May 31, 2023 | 6.85% |
| Feb 28, 2023 | 4.70% |
| Nov 30, 2022 | 5.15% |
| Aug 31, 2022 | 5.12% |
| May 31, 2022 | 7.89% |
| Feb 28, 2022 | 5.61% |
| Nov 30, 2021 | 6.80% |
| Aug 31, 2021 | 6.35% |
API Access
Fedex Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=FDX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "FDX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=FDX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();