Market capitalisation
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Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·FDX
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NYSE·FDX
FedEx Corporation
Share price$308.14Price as of: Nov 6, 2026
FedEx Corporation (FDX) is a company listed on NYSE, classified under Integrated Freight & Logistics.
FedEx is a global provider of transportation, logistics, and business solutions, with core segments in express delivery, LTL freight, integrated logistics, and internal support services.
Revenue · FY 2026
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Sales generated during the period, before costs and expenses.
Net margin · FY 2026
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Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,87 come from Federal Express Segment.
Federal Express Segment is its largest source of revenue (86.9%), followed by Fedex Freight Segment (9.3%). Here you will see what it sells, where, and how that mix is changing.
$95bnrevenue in FY 2026
3business lines with data
72%of sales, in UNITED STATES
Full fiscal year ended May 31, 2026
01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2026
02Where revenue comes from
A single line brings in half or more.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
No room for a label in the mosaic
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
It depends on one main market.
UNITED STATES is its largest market, with 71.7% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2026
04How the mix is changing
Federal Express Segment is gaining weight.
Weight of each part in 2025 and in 2026. A line gains weight when it grows faster than the total.
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
The business now depends almost entirely on Federal Express Segment, which provided more than all the growth in FY 2026, while the rest together would have declined.
That the rest is irrelevant: without line margins, we do not know if they could compensate by profitability should Federal Express Segment slow down.
02
While regional dependence is high (United States 71.7%), it did not increase in FY 2026: the shift in concentration was by lines, not by regions.
That regional diversification increases resilience: with such a steep rise in line concentration, the region factor matters less for risk exposure.
03
The surge from Federal Express Segment did not improve the company's net margin, which stays at 4.7% as before.
That growth made the business more profitable: with no line breakdown of margin, the impact of concentration on aggregate profitability is unknown.
Our take
By FY 2026, FedEx’s fortunes depend almost entirely on Federal Express Segment, with regional spread now offering little moderation of risk.
- 01Shown by the figures
Near-total dependence on one line
In FY 2026, the Federal Express Segment accounted for nearly all the growth and 86.9% of sales. The other lines actually lost weight, leaving the company extremely reliant on this single segment. If that engine falters, there is no evidence the rest can provide resilience.
- 02Our interpretation
Regional diversification does not offset concentration
The United States still holds the biggest sales share, but its proportion is stable. What shifts risk is not the region but the near-disappearance of the other segments’ weight compared to Federal Express.
- 03Shown by the figures
Concentration does not improve overall margin
Despite the drastic swing toward Federal Express Segment, the net margin remains unchanged. This suggests that growth in that segment does not necessarily lift overall profitability.
What is not proven
How much of profitability now comes from Federal Express Segment versus the rest, and can the remainder really respond if the dominant line stalls?
See the calculations behind it
- Federal Express Segment brought $58.6B of the $6.8B by which revenue grew in FY 2026 (861.8%), although it weighed 27.0%. Without that line, the rest grew −80.6%.
- Dependence on Federal Express Segment rises: from 27.0% of revenue in FY 2025 to 86.9% in FY 2026.
- United States brings 71.7% of sales (71.6% in FY 2025).
- Federal Express Segment brought $58.6B, more than the whole increase in revenue in FY 2026 ($6.8B).
- Federal Express Segment weighs more than all the other lines together: 86.9% of revenue in FY 2026.
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
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