FDX Fedex margins

Relative Growth: Rel. Growth: 55

Relative Strength: Rel. Strength: 46

Relative Valuation: Rel. Valuation: 81

Relative Profitability: Rel. Profitability: 62

Gross margin

62.1%

Operating margin

5.8%

EBITDA margin

11.8%

Net margin

4.7%

The Fedex reports a gross margin of 62.1%, an operating margin of 5.8%, an EBITDA margin of 11.8%, and a net margin of 4.7%. Gross margin expanded the most, by 0.1 percentage points, while operating margin contracted the most, by 0.1 percentage points.

FDX margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Fedex's margins averaged 61.98% gross, 6% operating, 12.04% EBITDA, and 4.74% net. Currently, gross margin is above its three-year average, while operating, EBITDA, and net margins are below their three-year averages.

FDX margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 0.1 percentage points, but operating margin contracted by 0.1 percentage points and EBITDA margin by 0.1 percentage points.

Gross margin expansion

0.1pp

Operating margin expansion

-0.1pp

EBITDA margin expansion

-0.1pp

Net margin expansion

0pp

FDX Gross margin

Over the last 3 years, Fedex's gross margin averaged 61.98%. The current gross margin of 62.1% is 0.1 percentage points above its three-year average. During this period, gross margin reached a high of 62.6% in Feb 2026 and a low of 61.5% in Aug 2024.

FDX Operating margin

Over the last 3 years, the average operating margin for Fedex was 6%. The latest operating margin for Fedex is 5.8%, 0.2 percentage points below its three-year average. Fedex's operating margin ranged from a low of 5.6% in Nov 2024 to a high of 6.3% in Nov 2025.

FDX EBITDA margin

Fedex's EBITDA margin averaged 12.04% over the last 3 years. Right now, the current EBITDA margin for Fedex is 11.8%, 0.2 percentage points below its three-year average. Over the last 3 years, Fedex's EBITDA margin peaked at 12.4% in May 2024 and reached a low of 11.8% in Nov 2024.

FDX Net margin

The average net margin for Fedex was 4.74% across the past 3 years. Right now, the current net margin for Fedex is 4.7%, 0 percentage points below its three-year average. The net margin for Fedex moved between 4.4% in Nov 2024 and 5% in Feb 2024.

FDX margin group comparison

Margins compared with peer-group, industry and sector averages

Fedex's gross margin of 62.1% is above the Industrials sector, the industry and its peers average. Compared to its Industrials sector average of 32.7%, Fedex's gross margin is 90% higher.

FDX margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Fedex's gross margin?

As of May 31, 2026, FDX has a gross margin of 62.1%.

What is Fedex's operating margin?

As of May 31, 2026, FDX has an operating margin of 5.8%.

What is Fedex's EBITDA margin?

The current EBITDA margin for FDX is 11.8% as of May 31, 2026.

What is Fedex's net margin?

For the period ending May 31, 2026, FDX recorded a net margin of 4.7%.

What are the average margins of FDX?

The three-year average margins for FDX were 62.0% gross, 6.0% operating, 12.0% EBITDA, and 4.7% net.

What are the highest historical margins of FDX?

Over the last 5 years, Fedex's highest margins were 62.6% gross in Feb 2026, 6.7% operating in May 2022, 12.5% EBITDA in Feb 2022, and 5.6% net in Feb 2022.

What are the lowest historical margins of FDX?

Over the last 5 years, Fedex's lowest margins were 59.4% gross in Nov 2022, 5.4% operating in May 2023, 9.3% EBITDA in Feb 2023, and 3.2% net in Feb 2023.