FedEx Corporation (FDX)
Operating 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 5,217,000 | 5,411,000 | 5,362,000 | 5,586,000 | 5,991,000 | 5,507,000 | 4,521,000 | 4,421,000 | 4,127,000 | 3,650,000 | 4,933,000 | 5,354,000 | 5,561,000 | 6,332,000 | 5,797,000 | 5,665,000 | 5,857,000 | 4,535,000 | 3,941,000 | 3,030,000 |
| 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 |
| Operating profit margin | 5.93% | 6.16% | 6.14% | 6.38% | 6.83% | 6.29% | 5.14% | 4.99% | 4.58% | 3.94% | 5.24% | 5.65% | 5.95% | 6.91% | 6.47% | 6.54% | 6.98% | 5.76% | 5.27% | 4.24% |
May 31, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $5,217,000K ÷ $87,926,000K
= 5.93%
The operating profit margin of FedEx Corporation has demonstrated notable fluctuations over the analyzed period from August 2020 through May 2025. Starting at 4.24% in August 2020, the margin exhibited an upward trend, reaching a peak of 6.98% as of May 2021, reflecting improved operational efficiency and potentially higher pricing power or volume increases during that period. Subsequently, the margin experienced periods of stabilization and slight declines, with values such as 6.54% and 6.47% in August and November 2021 respectively, indicating a plateau in profitability.
In 2022, the margin showed a modest decline, with figures like 5.95% in May and 5.65% in August, before further decreasing to 5.24% in November 2022. The downward trend intensified into early 2023, reaching a low of 3.94% in February 2023, potentially signaling increased costs, pricing pressures, or operational challenges.
Following this trough, the operating profit margin demonstrated signs of recovery, rising to 4.58% in May 2023 and continuing upward to 4.99% in August 2023 and 5.14% in November 2023. This recovery persisted into early 2024, with the margin markedly increasing to 6.29% in February and further to 6.83% in May, suggesting a potential normalization of margins, improved cost management, or favorable market conditions.
The margins then displayed slight contractions, registering 6.38% in August 2024 and 6.14% in November 2024, followed by stabilization with values of 6.16% in February 2025 and 5.93% in May 2025. Overall, the operating profit margin has shown periods of significant growth and decline, with recent data pointing toward a recovery and stabilization around an average margin of approximately 6%, indicating ongoing profitability and operational resilience amidst fluctuating economic conditions.