Short answer
FedEx (FDX) filed its fiscal 2025 10-K annual report with the SEC on Jul 21, 2025. It reported revenue of $87.9B (+0.3% year over year) and net income of $4.1B.
- Top risk flagged: Legal risk from class-action lawsuits and governmental enforcement actions requiring complex loss contingency evaluations, with no material liabilities currently estimated
FY2025 key financial metrics · XBRL
- Revenue
- $87.9B
- +0.3% YoY
- Net income
- $4.1B
- −5.5% YoY
- Operating margin
- 5.9%
- −0.4 pp YoY
- EPS (diluted)
- $16.81
- −2.3% YoY
- ROE
- 14.6%
- −1.1 pp YoY
- Operating cash flow
- $7.0B
- −15.4% YoY
Source: XBRL data from the FedEx (FDX) FY2025 10-K on SEC EDGAR. USD.
FedEx FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global transportation, e-commerce, and logistics services
- No new products, services, or segments explicitly introduced or emphasized this year
- No strategic shift or change in competitive positioning disclosed this filing
- Proxy statement for 2025 annual meeting includes detailed executive compensation and stock ownership data, held Sept 29, 2025
- Auditor fees and engagement policies for Ernst & Young LLP detailed for 2025 and 2024 years
Management Discussion & Analysis
- Foreign currency fluctuations had slightly positive impact on operating income in 2025, slightly negative in 2024
- A 10% stronger dollar could decrease 2026 operating income by approximately $450 million
- Recognized $86 million loss in other comprehensive income from cross-currency swaps in 2025
- Commodity price risk mitigated significantly by indexed fuel surcharges
Risk Factors
- Legal risk from class-action lawsuits and governmental enforcement actions requiring complex loss contingency evaluations, with no material liabilities currently estimated
- Macroeconomic risk including fluctuations in foreign exchange rates impacting goodwill impairment assessments of $6.6 billion recorded goodwill
- Operational risk from fleet capacity misalignment due to aircraft lead times, with 22 aircraft temporarily idled for average of 10 months as of May 31, 2025
- Market disruption risk from fleet modernization reducing Boeing 757-200 and MD-11 fleet, with $178 million impairment charges recorded in 2024 and 2025
- Financial risk from $17 billion in operating lease liabilities for aircraft and facilities, with weighted-average lease term of 9.7 years as of May 31, 2025
Generated from the filing text; verify against the original. How to read a 10-K
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