Fedex (FDX) Operating Margin (2009 - 2026)

Fedex has disclosed Operating Margin across 18 years of filings, most recently posting 6.2% for Q2 2026.

• In Q2 2026, Operating Margin fell 187.0% year-over-year to 6.2%; the TTM figure through May 2026 stood at 5.77% (down 17.0% YoY), while the FY2026 annual figure was 5.77%, down 17.0% from the prior year.
• Operating Margin came in at 6.2% for Q2 2026 at Fedex, up from 5.62% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 8.07% in Q2 2025 to a low of 4.7% in Q1 2023.
• Average Operating Margin over 5 years is 5.97%, with a median of 5.74% recorded in 2024.
• Year-over-year, Operating Margin soared 172 bps in 2023 and plunged 187 bps in 2026.
• Over 5 years, Operating Margin stood at 5.15% in 2022, then climbed by 12 bps to 5.76% in 2023, then declined by 17 bps to 4.79% in 2024, then gained by 23 bps to 5.87% in 2025, then increased by 6 bps to 6.2% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 6.2% in Q2 2026, 5.62% in Q1 2026, and 5.87% in Q4 2025.