FedEx Corporation (FDX)
Gross profit margin
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 21,115,000 | 19,872,000 | 19,680,000 | 19,655,000 | 19,992,000 | 20,112,000 | 20,148,000 | 19,172,000 | 19,166,000 | 19,671,000 | 19,987,000 | 20,288,000 | 20,167,000 | 19,608,000 | 18,892,000 | 18,281,000 | 17,954,000 | 16,229,000 | 15,166,000 | 14,107,000 |
| Revenue (ttm) | US$ in thousands | 87,926,000 | 87,815,000 | 87,393,000 | 87,591,000 | 87,693,000 | 87,514,000 | 87,945,000 | 88,594,000 | 90,155,000 | 92,619,000 | 94,091,000 | 94,751,000 | 93,512,000 | 91,683,000 | 89,552,000 | 86,641,000 | 83,959,000 | 78,752,000 | 74,729,000 | 71,490,000 |
| Gross profit margin | 24.01% | 22.63% | 22.52% | 22.44% | 22.80% | 22.98% | 22.91% | 21.64% | 21.26% | 21.24% | 21.24% | 21.41% | 21.57% | 21.39% | 21.10% | 21.10% | 21.38% | 20.61% | 20.29% | 19.73% |
May 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $21,115,000K ÷ $87,926,000K
= 24.01%
The gross profit margin of FedEx Corporation exhibited a gradual upward trajectory over the analyzed period, beginning at 19.73% as of August 31, 2020, and steadily increasing to 24.01% by May 31, 2025. From August 2020 through early 2022, the gross profit margin demonstrated a consistent, modest increase—reaching approximately 21.57% in May 2022—indicative of ongoing improvements in gross profitability.
Subsequent periods, particularly from late 2022 onward, saw a more pronounced upward movement. For instance, the margin increased from 21.24% as of November 2022 to 22.91% in November 2023 and further surged to 24.01% by May 2025. This significant strengthening suggests enhancements in revenue quality or cost management effectiveness, leading to improved gross profitability.
Throughout the period, the gross profit margin has shown resilience with minor fluctuations, mostly remaining within a narrow band of approximately 19.73% to 24.01%. The overall trend signals a positive development in FedEx's gross profitability position, likely driven by strategic operational efficiencies, pricing strategies, or incremental revenue growth relative to cost management.