FedEx (FDX) 10-K Summary — Year Ended May 31, 2023
FedEx Corporation experienced a decline in revenue for the most recent annual period compared to the prior year. Despite the decrease, the company reported significant operating income and net income, along with substantial cash generated from operations.
Key takeaway
Year ended May 31, 2023 · FY2025 10-K
FedEx Corporation experienced a decline in revenue for the most recent annual period compared to the prior year. Despite the decrease, the company reported significant operating income and net income, along with substantial cash generated from operations.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$90.2B
Revenue reported for the fiscal year.
Operating income
$4.9B
Income from operations reported for the year.
Net income
$4B
Net income reported for the year.
Operating cash flow
$8.8B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2021 | $84B | n/a |
| May 31, 2022 | $93.5B | +11.4% |
| May 31, 2023 | $90.2B | -3.6% |
Business overview
FedEx provides shipping and logistics services through an integrated global network. The company's operations include transportation, e-commerce, and business services, as described in the Business Overview section of the filing.
Financial performance
Annual revenue decreased compared to the previous year, following a period of growth. Operating income and net income remained positive, and operating cash flow was robust.
Material risks
Risk factors disclosed in the filing include potential impacts from global economic conditions, competitive pressures, and operational disruptions. These could affect future results.
Liquidity and capital
The filing discusses liquidity and capital resources, including cash from operations and financial commitments, with a forward-looking liquidity outlook.
What to watch
Readers should monitor whether revenue stabilizes or trends in any direction in the next annual filing.