Analysis of Revenues
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
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Revenues as Reported
FedEx Corp., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
- FedEx Express Segment
- The revenue of this segment experienced an initial decline from 37,331 million USD in 2019 to 35,513 million USD in 2020. It then showed a notable recovery and growth up to 45,814 million USD in 2022, followed by a decline in the subsequent two years, reaching 40,857 million USD in 2024.
- FedEx Ground Segment
- This segment demonstrated consistent growth over the entire period. Starting from 20,522 million USD in 2019, revenue steadily increased each year, reaching 34,256 million USD in 2024. The growth was particularly strong between 2020 and 2021.
- FedEx Freight Segment
- The revenue in this segment showed some volatility. It declined slightly from 7,582 million USD in 2019 to 7,102 million USD in 2020, followed by recovery and growth to 9,632 million USD in 2023. However, a decline occurred in 2024, reducing revenue to 9,082 million USD.
- FedEx Services Segment
- Starting from a minimal base of 1,691 million USD in 2019, the segment’s revenue sharply decreased to 22 million USD in 2020, then increased gradually to a peak of 301 million USD in 2023, before slightly declining to 260 million USD in 2024. The sharp drop between 2019 and 2020 significantly impacted this segment.
- Corporate, Other and Eliminations
- This category showed fluctuating revenue values, with an increase from 2,567 million USD in 2019 to a peak of 4,681 million USD in 2022, before declining to 3,238 million USD in 2024. The revenue exhibited high variability with no clear trend.
- Consolidated Revenue
- The overall revenue showed moderate fluctuations. It slightly decreased from 69,693 million USD in 2019 to 69,217 million USD in 2020, followed by significant growth to 93,512 million USD in 2022. After 2022, the consolidated revenue declined to 87,693 million USD by 2024. The peak year was 2022, indicating strong performance prior to the recent downturn.