Filing Flows › FedEx (FDX) › Q4 FY26
FedEx (FDX) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Jul 20, 2026
FedEx (FDX) reported revenue of $25.0B for the fourth quarter fiscal 2026 (Q4 FY26), +13% from a year earlier and +4% from the quarter before. Operating margin was 6.2%, net earnings $1.6B (6.4% of revenue).
FedEx, Q4 FY26: revenue $25.0B (+12% year over year), operating margin 6.2%, net earnings $1.6B, operating cash flow $3.3B. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.0B | +4% | +13% |
| Operating profit | $1.6B | +15% | -13% |
| Net earnings | $1.6B | +51% | -3% |
| Operating cash flow | $3.3B | +64% | +30% |
| Free cash flow | $1.8B | +73% | +71% |
What changed
Revenue was $25.0B in Q4 FY26, up 13% year over year and up 4% from the previous quarter.
Operating profit was $1.6B, a 6.2% margin (down 1.9 points year over year). Operating profit fell $0.24B even though revenue rose $2.8B versus Q4 FY25, so costs grew faster than sales. Total costs grew 15% against revenue growth of 13%. Net earnings were $1.6B, down 3% year over year. The effective tax rate was 24.2%. Non-operating items added $0.56B, 26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.3B (up 30% year over year), 204% of net earnings. Non-cash charges added back $1.1B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.53B. Capital expenditures of $1.5B left free cash flow of $1.8B.
Questions
What was FedEx's revenue in the fourth quarter fiscal 2026?
FedEx (FDX) reported revenue of $25.0B for the fourth quarter fiscal 2026 (Q4 FY26), +13% from a year earlier and +4% from the quarter before.
Was FedEx profitable in the fourth quarter fiscal 2026?
Operating profit was $1.6B (6.2% of revenue) and net earnings $1.6B.
Source: FedEx 10-K on SEC EDGAR.