Stock Analysis on Net
Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

Common-Size Income Statement

FedEx Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
Revenue 100.00 100.00 100.00 100.00 100.00 100.00
Salaries and employee benefits -34.41 -34.28 -35.94 -36.16 -35.55 -35.46
Purchased transportation -24.17 -25.79 -25.81 -25.23 -23.90 -23.07
Rentals and landing fees -5.26 -5.04 -4.95 -5.36 -4.82 -5.14
Depreciation and amortization -4.63 -4.25 -4.52 -5.22 -4.81 -4.73
Fuel -6.55 -5.47 -3.43 -4.56 -5.58 -5.16
Maintenance and repairs -3.72 -3.61 -3.96 -4.18 -4.07 -4.01
Goodwill and other asset impairment charges -0.13 0.00 0.00 -0.63 0.00 -0.58
Business optimization and realignment costs -0.34 -0.30 -0.14 0.00 -0.46 0.00
Retirement plans mark-to-market adjustment 0.00 0.00 0.00 0.00 0.00 0.02
Other -15.34 -14.59 -14.27 -15.16 -14.41 -14.44
Operating expenses -94.55% -93.32% -93.02% -96.51% -93.59% -92.56%
Operating income 5.45% 6.68% 6.98% 3.49% 6.41% 7.44%
Interest expense -0.77 -0.74 -0.94 -0.97 -0.84 -0.85
Interest income 0.22 0.06 0.06 0.08 0.08 0.07
Other retirement plans income (expense) 1.17 -0.78 2.36 -0.18 -4.66 0.00
Loss on debt extinguishment 0.00 0.00 -0.47 0.00 0.00 0.00
Other, net -0.12 0.01 -0.04 -0.01 -0.04 -0.01
Other income (expense) 0.50% -1.44% 0.97% -1.08% -5.47% -0.79%
Income before income taxes 5.95% 5.24% 7.95% 2.41% 0.94% 6.65%
(Provision) benefit for income taxes -1.54 -1.14 -1.72 -0.55 -0.17 0.33
Net income 4.41% 4.09% 6.23% 1.86% 0.77% 6.99%

Based on: 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), 10-K (reporting date: 2018-05-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. FedEx Corp. operating income as a percentage of revenue decreased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. FedEx Corp. income before income taxes as a percentage of revenue decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. FedEx Corp. net income as a percentage of revenue decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.