FedEx Corporation (NYSE: FDX) is a transportation and logistics company that provides package delivery, freight shipping, and business services to customers and businesses worldwide. Revenue comes from transactional fees charged for express and ground package delivery through the Federal Express segment, less-than-truckload freight services through the FedEx Freight segment, and ancillary services including customs brokerage, freight forwarding, and retail business services. FedEx reported consolidated revenue of $87.9B in FY2025, essentially flat versus $87.7B in FY2024. The Federal Express segment generated operating income of $4.885B (6.5% operating margin) in FY2025, while FedEx Freight generated $1.489B in operating income, down 18% year-over-year. In December 2024, FedEx's board announced a plan to spin off FedEx Freight as a separate publicly traded company. FedEx was incorporated in Delaware on October 2, 1997 as a holding company for its portfolio of transportation businesses. Principal competitors include UPS, DHL, USPS, and regional carriers.

Revenue model

Transactional fees for express package delivery, ground delivery, and LTL freight shipments. Additional revenue from customs brokerage, ocean and air freight forwarding, supply chain management, and retail document and print services through FedEx Office.

Products and services

Federal Express express and ground package delivery; FedEx Freight LTL freight services including FedEx Freight Direct (four service levels, available to nearly 100% of U.S. population for basic service); FedEx Logistics customs brokerage, global ocean and air freight forwarding, and integrated supply chain solutions; FedEx Office document and business services; FedEx Dataworks digital solutions; LTL Select cloud-based multi-carrier transportation management system; cross-border LTL shipping to and from Canada and Mexico.

Customers and end markets

Businesses and individual shippers requiring domestic and international package delivery, time-critical freight transport, e-commerce fulfillment, and supply chain services. High-volume package shippers represent a material customer segment. End markets include e-commerce, retail, manufacturing, life sciences, and general trade.

Value-chain role

Physical transport and logistics intermediary connecting shippers to recipients. Operates pickup, sortation, line-haul, and last-mile delivery. Also provides digital shipment tracking, customs clearance, freight forwarding, and supply chain management, positioning FedEx across multiple tiers of the logistics value chain.

Geographic exposure

Global operations with U.S. domestic and international package markets. Cross-border LTL service to and from Canada and Mexico, plus intra-Canada and intra-Mexico shipments. Federal Express competes in international markets across multiple continents.

Competitors

United Parcel Service (UPS), DHL, USPS, DPD (GeoPost, subsidiary of La Poste), General Logistics Systems (Royal Mail), Regional delivery companies, Passenger airlines offering express package services, Air freight forwarders, All-cargo airlines

Source: SEC 10-K, filed 2025-07-21

Industry: Air Courier Services Peers: Air Transport Services Group, Inc. ATLAS AIR WORLDWIDE HOLDINGS INC CH Robinson Worldwide Inc Expeditors International of Washington Inc Forward Air Corp (Delaware) Radiant Logistics Inc GXO Logistics Inc Hub Group Inc United Parcel Service Inc