Fedex (FDX) Operating Margin (2009 - 2026)

Fedex (FDX) posted Operating Margin of 6.2% for Q2 2026, up 10.43% sequentially from 5.62% in Q1 2026, and down 187.0% YoY from 7.13% in Q2 2025.

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

Fedex has reported Operating Margin for 18 years, with the latest figure at 6.2% in Q2 2026.

Quarterly Operating Margin fell 187.0% year-over-year to 6.2% in Q2 2026, while the trailing twelve-month figure through May 2026 was 5.77% (down 17.0% YoY) and the FY2026 annual result came in at 5.77%, down 17.0% from the prior year.
Operating Margin climbed to 6.2% in Q2 2026 per FDX's latest filing, from 5.62% in the prior quarter.
Over five years, Operating Margin peaked at 8.07% in Q2 2025 and troughed at 4.7% in Q1 2023.
A 5-year average of 5.97% and a median of 5.74% in 2024 frame the typical range for Operating Margin.
The sharpest annual moves came in 2023 and 2026: Operating Margin jumped 172 bps in 2023, then sank 187 bps in 2026.
Over 5 years, Operating Margin stood at 5.15% in 2022, then increased by 12 bps to 5.76% in 2023, then retreated by 17 bps to 4.79% in 2024, then climbed by 23 bps to 5.87% in 2025, then gained by 6 bps to 6.2% in 2026.
According to Business Quant data, Operating Margin over the past three periods registered 6.2%, 5.62%, and 5.87% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	United Parcel Service	87.24 Bn	82.59 Bn	19.65 Bn	4.07%
2	Fedex	77.35 Bn	64.04 Bn	18.84 Bn	6.20%
3	Hunt J B Transport Services	25.86 Bn	25.86 Bn	-	7.42%
4	Expeditors International Of Washington	24.43 Bn	23.40 Bn	1.09 Bn	9.98%
5	C. H. Robinson Worldwide	17.04 Bn	16.89 Bn	1.11 Bn	5.18%
6	ZTO Express (Cayman)	17.03 Bn	12.62 Bn	469.01 Mn	19.16%
7	Landstar System	6.19 Bn	5.84 Bn	308.86 Mn	4.62%
8	GXO Logistics	5.22 Bn	4.45 Bn	508.00 Mn	2.24%
9	Pitney Bowes	2.21 Bn	1.93 Bn	296.14 Mn	-19.90%
10	Cryoport	842.14 Mn	445.45 Mn	22.82 Mn	-20.50%

Download Data