Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement.
Across FY2008–FY2026: $22.35B in buybacks, $10.53B in dividends.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
4 filing observations remain unmatched and are excluded from instrument histories.
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
Some debt data could not be processed yet.
10 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.
Covenants
Some sections could not be verified in 4 agreement documents. Other restrictions or tests may apply.
Verified tests, triggers and restrictions appear with each agreement below. A verified term does not establish current compliance.
Loans, facilities and notes
Equipment Notes
Note · Federal Express Corporation
Reference: Equipment Notes
Active
Original principal
USD 970,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Feb 20, 2034
Last reported interest terms:
1.875%
Reported 2020-08-13Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Equipment Notes bear interest at the rate of 1.875% per annum. The Equipment Notes were purchased by the Trustee using the proceeds from the sale of a total of $970,000,000 aggregate principal amount of FedEx Express Class AA Pass Through Certificates, Series 2020-1AA (the “Certificates”) through the Trust. The Trustee will distribute payments of principal, make-whole amount (if any) and interest received on the Equipment Notes to the holders of the Certificates, subject to the subordination provisions set forth in the intercreditor agreement, dated as of August 13, 2020, among the Trustee, the Liquidity Provider and the Subordination Agent. Pursuant to a Revolving Credit Agreement dated August 13, 2020, between BNP Paribas, acting through its New York Branch, as liquidity provider (the “Liquidity Provider”), and the Subordination Agent, the Liquidity Provider will provide a liquidity facility for the Certificates, in an amount sufficient to make three semiannual interest distributions on the outstanding balance of the Certificates.
Issuer evidence: On August 13, 2020, Federal Express Corporation (“FedEx Express”), a wholly owned subsidiary of FedEx Corporation (the “Company”), and Wilmington Trust Company, as subordination agent (the “Subordination Agent”), loan trustee and pass through trustee (the “Trustee”) under a pass through trust agreement pursuant to which a newly formed pass through trust (the “Trust”) was created by FedEx Express, entered into 19 separate Participation Agreements, each dated as of August 13, 2020 (each, a “Participation Agreement” and, collectively, the “Participation Agreements”). The Participation Agreements provide for the issuance by FedEx Express of equipment notes (the “Equipment Notes”) in an aggregate principal amount of $970,000,000 secured by thirteen Boeing 767-300F aircraft and six Boeing 777F aircraft, delivered new to FedEx Express between September 2015 and June 2020 (each such aircraft, an “Aircraft” and, collectively, the “Aircraft”), and which are substantially identical with respect to each model of Aircraft.
Supporting evidence: The interest on the Equipment Notes is payable semiannually on February 20 and August 20 of each year, beginning on February 20, 2021. The principal payments on the Equipment Notes are scheduled on February 20 and August 20 of each year, beginning on February 20, 2021. The final payments are expected to be due on February 20, 2034. Maturity of the Equipment Notes may be accelerated upon the occurrence of certain events of default, including failure by FedEx Express (in some cases after notice or the expiration of a grace period, or both) to make payments under the applicable Indenture when due or to comply with certain covenants, as well as certain bankruptcy events involving FedEx Express or the Company. The Equipment Notes issued with respect to each Aircraft are secured by a lien on such Aircraft and are also cross-collateralized by the other Aircraft. The payment obligations of FedEx Express in respect of the Equipment Notes are fully and unconditionally guaranteed by the Company.
Supporting evidence: The Participation Agreements provide for the issuance by FedEx Express of equipment notes (the “Equipment Notes”) in an aggregate principal amount of $970,000,000 secured by thirteen Boeing 767-300F aircraft and six Boeing 777F aircraft, delivered new to FedEx Express between September 2015 and June 2020
Supporting evidence: The Participation Agreements provide for the issuance by FedEx Express of equipment notes (the “Equipment Notes”) in an aggregate principal amount of $970,000,000 secured by thirteen Boeing 767-300F aircraft and six Boeing 777F aircraft, delivered new to FedEx Express between September 2015 and June 2020
0.450% Notes due 2029
Note · FedEx Corporation
Reference: 0.450% Notes due 2029
Active
Original principal
EUR 600,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
0.45%
Reported 2021-05-04Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On May 4, 2021, FedEx Corporation issued €600,000,000 aggregate principal amount of its 0.450% Notes due 2029 and €650,000,000 aggregate principal amount of its 0.950% Notes due 2033.
Issuer evidence: On May 4, 2021, FedEx Corporation issued €600,000,000 aggregate principal amount of its 0.450% Notes due 2029 and €650,000,000 aggregate principal amount of its 0.950% Notes due 2033.
0.950% Notes due 2033
Note · FedEx Corporation
Reference: 0.950% Notes due 2033
Active
Original principal
EUR 650,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
0.95%
Reported 2021-05-04Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On May 4, 2021, FedEx Corporation issued €600,000,000 aggregate principal amount of its 0.450% Notes due 2029 and €650,000,000 aggregate principal amount of its 0.950% Notes due 2033.
Issuer evidence: On May 4, 2021, FedEx Corporation issued €600,000,000 aggregate principal amount of its 0.450% Notes due 2029 and €650,000,000 aggregate principal amount of its 0.950% Notes due 2033.
2.400% Notes due 2031
Note · FedEx Corporation
Reference: 2.400% Notes due 2031
Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
2.4%
Reported 2021-04-29Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
(a) · Change of Control Repurchase Eventthe Company will make an offer to each Holder of the Notes of such series to repurchaseSpringingTrigger: If a Change of Control Repurchase Event occurs with respect to a series of NotesExceptions: except to the extent the Company has exercised its right to redeem such Notes pursuant to the redemption terms of such NotesSection 3.02*. Change of Control Repurchase Event.*Full wording and supporting evidence
Source evidence: (a) If a Change of Control Repurchase Event occurs with respect to a series of Notes, except to the extent the Company has exercised its right to redeem such Notes pursuant to the redemption terms of such Notes, the Company will make an offer to each Holder of the Notes of such series to repurchase all or any part (in minimum denominations of $2,000 or integral multiples of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price (the “**Repurchase Price**”) in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on such Notes repurchased to, but not including, the Repurchase Date (as defined below).
Target identity evidence: SUPPLEMENTAL INDENTURE NO. 12, dated as of April 29, 2021, among FedEx Corporation, a Delaware corporation
Target identity evidence: There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
On April 29, 2021, FedEx Corporation issued $1,000,000,000 aggregate principal amount of its 2.400% Notes due 2031 and $750,000,000 aggregate principal amount of its 3.250% Notes due 2041.
Issuer evidence: On April 29, 2021, FedEx Corporation issued $1,000,000,000 aggregate principal amount of its 2.400% Notes due 2031 and $750,000,000 aggregate principal amount of its 3.250% Notes due 2041.
3.250% Notes due 2041
Note · FedEx Corporation
Reference: 3.250% Notes due 2041
Active
Original principal
USD 750,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
3.25%
Reported 2021-04-29Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
(a) · Change of Control Repurchase Eventthe Company will make an offer to each Holder of the Notes of such series to repurchaseSpringingTrigger: If a Change of Control Repurchase Event occurs with respect to a series of NotesExceptions: except to the extent the Company has exercised its right to redeem such Notes pursuant to the redemption terms of such NotesSection 3.02*. Change of Control Repurchase Event.*Full wording and supporting evidence
Source evidence: (a) If a Change of Control Repurchase Event occurs with respect to a series of Notes, except to the extent the Company has exercised its right to redeem such Notes pursuant to the redemption terms of such Notes, the Company will make an offer to each Holder of the Notes of such series to repurchase all or any part (in minimum denominations of $2,000 or integral multiples of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price (the “**Repurchase Price**”) in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on such Notes repurchased to, but not including, the Repurchase Date (as defined below).
Target identity evidence: SUPPLEMENTAL INDENTURE NO. 12, dated as of April 29, 2021, among FedEx Corporation, a Delaware corporation
Target identity evidence: There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
Target identity evidence: Section 2.01*. Title.* There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
3.250% Notes due 2041 · Change of Control Repurchase Eventthe Company will make an offer, as provided in, and subject to the terms of, Supplemental Indenture No. 12, to each Holder of the Notes of this series to repurchase all or any partExceptions: except to the extent the Company has exercised its right to redeem the Notes of this series pursuant to the redemption terms of the Notes3.250% Notes due 2041Full wording and supporting evidence
Source evidence: If a Change of Control Repurchase Event (as defined in Supplemental Indenture No. 12) occurs with respect to Notes of this series, except to the extent the Company has exercised its right to redeem the Notes of this series pursuant to the redemption terms of the Notes, the Company will make an offer, as provided in, and subject to the terms of, Supplemental Indenture No. 12, to each Holder of the Notes of this series to repurchase all or any part (in minimum denominations of $2,000 or integral multiples of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on such Notes repurchased to, but not including, the date of repurchase.
Target identity evidence: SUPPLEMENTAL INDENTURE NO. 12, dated as of April 29, 2021, among FedEx Corporation, a Delaware corporation
Target identity evidence: There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
Target identity evidence: Section 2.01*. Title.* There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
3.250% Notes due 2041 · In case an Event of Default with respect to the Notes of this series shall occur and be continuingthe principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture.3.250% Notes due 2041Full wording and supporting evidence
Source evidence: In case an Event of Default with respect to the Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture.
Target identity evidence: SUPPLEMENTAL INDENTURE NO. 12, dated as of April 29, 2021, among FedEx Corporation, a Delaware corporation
Target identity evidence: There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
Target identity evidence: Section 2.01*. Title.* There shall be a series of Securities designated the 2.400% Notes due 2031 (the “**2031 Notes**”) and a series of Securities designated the 3.250% Notes due 2041 (the “**2041 Notes**” and together with the 2031 Notes, the “**Notes**”).
On April 29, 2021, FedEx Corporation issued $1,000,000,000 aggregate principal amount of its 2.400% Notes due 2031 and $750,000,000 aggregate principal amount of its 3.250% Notes due 2041.
Issuer evidence: On April 29, 2021, FedEx Corporation issued $1,000,000,000 aggregate principal amount of its 2.400% Notes due 2031 and $750,000,000 aggregate principal amount of its 3.250% Notes due 2041.
3.500% Notes due 2032
Note · FedEx Corporation
Reference: 3.500% Notes due 2032
Active
Original principal
EUR 500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
3.5%
Reported 2025-07-30Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On July 30, 2025, FedEx Corporation issued €500,000,000 aggregate principal amount of its 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of its 4.125% Notes due 2037.
Issuer evidence: On July 30, 2025, FedEx Corporation issued €500,000,000 aggregate principal amount of its 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of its 4.125% Notes due 2037.
On July 23, 2025, FedEx Corporation (the “Company”) and the Company’s wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc., Federal Express Europe, Inc. and FedEx Freight, Inc. entered into an underwriting agreement (the “Underwriting Agreement”) with BNP PARIBAS, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc, on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Underwriting Agreement (collectively, the “Underwriters”), in connection with the issuance and sale by the Company of €500,000,000 aggregate principal amount of the Company’s 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of the Company’s 4.125% Notes due 2037.
Issuer evidence: On July 23, 2025, FedEx Corporation (the “Company”) and the Company’s wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc., Federal Express Europe, Inc. and FedEx Freight, Inc. entered into an underwriting agreement (the “Underwriting Agreement”) with BNP PARIBAS, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc, on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Underwriting Agreement (collectively, the “Underwriters”), in connection with the issuance and sale by the Company of €500,000,000 aggregate principal amount of the Company’s 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of the Company’s 4.125% Notes due 2037.
Supporting evidence: On July 23, 2025, FedEx Corporation (the “Company”) and the Company’s wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc., Federal Express Europe, Inc. and FedEx Freight, Inc. entered into an underwriting agreement (the “Underwriting Agreement”) with BNP PARIBAS, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc, on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Underwriting Agreement (collectively, the “Underwriters”), in connection with the issuance and sale by the Company of €500,000,000 aggregate principal amount of the Company’s 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of the Company’s 4.125% Notes due 2037.
4.000% Notes due 2030
Note · FedEx Corporation
Reference: 4.000% Notes due 2030
Active
Original principal
EUR 1,100,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
4%
Reported 2026-09-14Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On September 9, 2026, FedEx Corporation (the "Company") and the Company's wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc. and Federal Express Europe, Inc. entered into (i) an underwriting agreement (the "Euro Notes Underwriting Agreement") with Citigroup Global Markets Limited, Merrill Lynch International, Wells Fargo Securities International Limited, BNP PARIBAS and ING Bank N.V., on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Euro Notes Underwriting Agreement, in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034 (collectively, the "Euro Notes") (the "Euro Notes Offering") and (ii) an underwriting agreement (the "USD Notes Underwriting Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Scotia Capital (USA) Inc., on behalf of themselves and as representatives of the several underwriters named on Schedule A to the USD Notes Underwriting Agreement, in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036 (the "USD Notes," and together with the Euro Notes, the "Notes") (the "USD Notes Offering"). Each of the Euro Notes Offering and the USD Notes Offering was consummated on September 14, 2026.
Issuer evidence: On September 9, 2026, FedEx Corporation (the "Company") and the Company's wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc. and Federal Express Europe, Inc. entered into (i) an underwriting agreement (the "Euro Notes Underwriting Agreement") with Citigroup Global Markets Limited, Merrill Lynch International, Wells Fargo Securities International Limited, BNP PARIBAS and ING Bank N.V., on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Euro Notes Underwriting Agreement, in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034 (collectively, the "Euro Notes") (the "Euro Notes Offering") and (ii) an underwriting agreement (the "USD Notes Underwriting Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Scotia Capital (USA) Inc., on behalf of themselves and as representatives of the several underwriters named on Schedule A to the USD Notes Underwriting Agreement, in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036 (the "USD Notes," and together with the Euro Notes, the "Notes") (the "USD Notes Offering"). Each of the Euro Notes Offering and the USD Notes Offering was consummated on September 14, 2026.
Supporting evidence: in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034
4.125% Notes due 2037
Note · FedEx Corporation
Reference: 4.125% Notes due 2037
Active
Original principal
EUR 350,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
4.125%
Reported 2025-07-30Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On July 30, 2025, FedEx Corporation issued €500,000,000 aggregate principal amount of its 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of its 4.125% Notes due 2037.
Issuer evidence: On July 30, 2025, FedEx Corporation issued €500,000,000 aggregate principal amount of its 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of its 4.125% Notes due 2037.
On July 23, 2025, FedEx Corporation (the “Company”) and the Company’s wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc., Federal Express Europe, Inc. and FedEx Freight, Inc. entered into an underwriting agreement (the “Underwriting Agreement”) with BNP PARIBAS, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc, on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Underwriting Agreement (collectively, the “Underwriters”), in connection with the issuance and sale by the Company of €500,000,000 aggregate principal amount of the Company’s 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of the Company’s 4.125% Notes due 2037.
Issuer evidence: On July 23, 2025, FedEx Corporation (the “Company”) and the Company’s wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc., Federal Express Europe, Inc. and FedEx Freight, Inc. entered into an underwriting agreement (the “Underwriting Agreement”) with BNP PARIBAS, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc, on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Underwriting Agreement (collectively, the “Underwriters”), in connection with the issuance and sale by the Company of €500,000,000 aggregate principal amount of the Company’s 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of the Company’s 4.125% Notes due 2037.
Supporting evidence: On July 23, 2025, FedEx Corporation (the “Company”) and the Company’s wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc., Federal Express Europe, Inc. and FedEx Freight, Inc. entered into an underwriting agreement (the “Underwriting Agreement”) with BNP PARIBAS, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc, on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Underwriting Agreement (collectively, the “Underwriters”), in connection with the issuance and sale by the Company of €500,000,000 aggregate principal amount of the Company’s 3.500% Notes due 2032 and €350,000,000 aggregate principal amount of the Company’s 4.125% Notes due 2037.
4.625% Notes due 2034
Note · FedEx Corporation
Reference: 4.625% Notes due 2034
Active
Original principal
EUR 900,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
4.625%
Reported 2026-09-14Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On September 9, 2026, FedEx Corporation (the "Company") and the Company's wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc. and Federal Express Europe, Inc. entered into (i) an underwriting agreement (the "Euro Notes Underwriting Agreement") with Citigroup Global Markets Limited, Merrill Lynch International, Wells Fargo Securities International Limited, BNP PARIBAS and ING Bank N.V., on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Euro Notes Underwriting Agreement, in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034 (collectively, the "Euro Notes") (the "Euro Notes Offering") and (ii) an underwriting agreement (the "USD Notes Underwriting Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Scotia Capital (USA) Inc., on behalf of themselves and as representatives of the several underwriters named on Schedule A to the USD Notes Underwriting Agreement, in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036 (the "USD Notes," and together with the Euro Notes, the "Notes") (the "USD Notes Offering"). Each of the Euro Notes Offering and the USD Notes Offering was consummated on September 14, 2026.
Issuer evidence: On September 9, 2026, FedEx Corporation (the "Company") and the Company's wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc. and Federal Express Europe, Inc. entered into (i) an underwriting agreement (the "Euro Notes Underwriting Agreement") with Citigroup Global Markets Limited, Merrill Lynch International, Wells Fargo Securities International Limited, BNP PARIBAS and ING Bank N.V., on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Euro Notes Underwriting Agreement, in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034 (collectively, the "Euro Notes") (the "Euro Notes Offering") and (ii) an underwriting agreement (the "USD Notes Underwriting Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Scotia Capital (USA) Inc., on behalf of themselves and as representatives of the several underwriters named on Schedule A to the USD Notes Underwriting Agreement, in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036 (the "USD Notes," and together with the Euro Notes, the "Notes") (the "USD Notes Offering"). Each of the Euro Notes Offering and the USD Notes Offering was consummated on September 14, 2026.
Supporting evidence: in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034
5.750% Notes due 2036
Note · FedEx Corporation
Reference: 5.750% Notes due 2036
Active
Original principal
USD 1,100,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
5.75%
Reported 2026-09-14Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
On September 9, 2026, FedEx Corporation (the "Company") and the Company's wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc. and Federal Express Europe, Inc. entered into (i) an underwriting agreement (the "Euro Notes Underwriting Agreement") with Citigroup Global Markets Limited, Merrill Lynch International, Wells Fargo Securities International Limited, BNP PARIBAS and ING Bank N.V., on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Euro Notes Underwriting Agreement, in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034 (collectively, the "Euro Notes") (the "Euro Notes Offering") and (ii) an underwriting agreement (the "USD Notes Underwriting Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Scotia Capital (USA) Inc., on behalf of themselves and as representatives of the several underwriters named on Schedule A to the USD Notes Underwriting Agreement, in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036 (the "USD Notes," and together with the Euro Notes, the "Notes") (the "USD Notes Offering"). Each of the Euro Notes Offering and the USD Notes Offering was consummated on September 14, 2026.
Issuer evidence: On September 9, 2026, FedEx Corporation (the "Company") and the Company's wholly owned subsidiaries Federal Express Corporation, Federal Express International, Inc. and Federal Express Europe, Inc. entered into (i) an underwriting agreement (the "Euro Notes Underwriting Agreement") with Citigroup Global Markets Limited, Merrill Lynch International, Wells Fargo Securities International Limited, BNP PARIBAS and ING Bank N.V., on behalf of themselves and as representatives of the several underwriters named on Schedule B to the Euro Notes Underwriting Agreement, in connection with the issuance and sale by the Company of €1,100,000,000 aggregate principal amount of the Company's 4.000% Notes due 2030 and €900,000,000 aggregate principal amount of the Company's 4.625% Notes due 2034 (collectively, the "Euro Notes") (the "Euro Notes Offering") and (ii) an underwriting agreement (the "USD Notes Underwriting Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Scotia Capital (USA) Inc., on behalf of themselves and as representatives of the several underwriters named on Schedule A to the USD Notes Underwriting Agreement, in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036 (the "USD Notes," and together with the Euro Notes, the "Notes") (the "USD Notes Offering"). Each of the Euro Notes Offering and the USD Notes Offering was consummated on September 14, 2026.
Supporting evidence: in connection with the issuance and sale by the Company of $1,100,000,000 aggregate principal amount of the Company's 5.750% Notes due 2036
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
0.86×
Peer median 1.14×
EV/EBIT
14.85×
Peer median 21.39×
P/E (TTM common income)
15.69×
Peer median 28.48×
Peer medians compare against the 4 similar-size Integrated Freight & Logistics companies (of 31 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
Component
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
Federal Express Segment
$82,273,000,000
$75,304,000,000
$74,663,000,000
$75,884,000,000
—
—
—
—
Fedex Freight Segment
$8,795,000,000
$8,892,000,000
$9,429,000,000
$10,084,000,000
$9,532,000,000
$7,833,000,000
$7,102,000,000
$7,582,000,000
FedEx Express Segment
—
—
$40,857,000,000
$42,743,000,000
$45,814,000,000
$42,078,000,000
$35,513,000,000
$37,331,000,000
FedEx Ground Segment
—
—
$34,256,000,000
$33,507,000,000
$33,232,000,000
$30,496,000,000
$22,733,000,000
$20,522,000,000
FedEx Services Segment
—
—
$260,000,000
$301,000,000
$253,000,000
$32,000,000
$22,000,000
$22,000,000
By Geography (USD)
Component
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
United States
$67,944,000,000
$62,916,000,000
$63,531,000,000
$64,890,000,000
$64,941,000,000
$58,792,000,000
$48,404,000,000
$47,584,000,000
Non Us
$26,776,000,000
$25,010,000,000
$24,162,000,000
$25,265,000,000
$28,571,000,000
$25,167,000,000
$20,813,000,000
$22,109,000,000
By Product & Service (USD)
Component
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
Package Revenue
$74,927,000,000
$68,507,000,000
$100,593,000,000
$101,088,000,000
$35,693,000,000
$32,480,000,000
$27,663,000,000
$29,108,000,000
United States Domestic Package Revenue
$54,638,000,000
$49,414,000,000
$63,921,000,000
$64,398,000,000
$16,385,000,000
$14,891,000,000
$13,048,000,000
$13,717,000,000
United States Ground
$37,335,000,000
$33,887,000,000
$32,981,000,000
$32,352,000,000
—
—
—
—
International Export Package Revenue
$15,564,000,000
$14,598,000,000
$27,835,000,000
$28,095,000,000
$14,968,000,000
$12,949,000,000
$10,436,000,000
$10,851,000,000
United States Priority
$11,603,000,000
$10,520,000,000
$10,543,000,000
$10,896,000,000
—
—
—
—
International Priority
$9,639,000,000
$8,737,000,000
$18,909,000,000
$21,877,000,000
$12,130,000,000
$10,317,000,000
$7,354,000,000
$7,405,000,000
Freight Revenue
$6,056,000,000
$5,831,000,000
$12,896,000,000
$15,303,000,000
$8,711,000,000
$8,182,000,000
$7,113,000,000
$7,532,000,000
International Economy
$5,925,000,000
$5,861,000,000
$8,926,000,000
$6,218,000,000
$2,838,000,000
$2,632,000,000
$3,082,000,000
$3,446,000,000
United States Deferred
$5,700,000,000
$5,007,000,000
$9,854,000,000
$10,254,000,000
$5,330,000,000
$4,984,000,000
$4,038,000,000
$4,225,000,000
International Domestic
$4,725,000,000
$4,495,000,000
$8,837,000,000
$8,595,000,000
$4,340,000,000
$4,640,000,000
$4,179,000,000
$4,540,000,000
International Priority Freight
$2,560,000,000
$2,320,000,000
$4,410,000,000
$6,119,000,000
$3,840,000,000
$3,030,000,000
$1,915,000,000
$2,070,000,000
International Economy Freight
$2,244,000,000
$1,975,000,000
$3,551,000,000
$3,229,000,000
$1,653,000,000
$1,582,000,000
$1,930,000,000
$2,123,000,000
Other
$1,290,000,000
$966,000,000
$2,031,000,000
$2,236,000,000
$1,410,000,000
$1,416,000,000
$737,000,000
$691,000,000
United States Freight
$1,252,000,000
$1,536,000,000
$4,809,000,000
$5,789,000,000
$3,041,000,000
$3,325,000,000
$2,998,000,000
$3,025,000,000
International Airfreight
—
—
$126,000,000
$166,000,000
$177,000,000
$245,000,000
$270,000,000
$314,000,000
United States Overnight Box
—
—
$8,689,000,000
$8,916,000,000
$9,084,000,000
$8,116,000,000
$7,234,000,000
$7,663,000,000
United States Overnight Envelope
—
—
$1,854,000,000
$1,980,000,000
$1,971,000,000
$1,791,000,000
$1,776,000,000
$1,829,000,000
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
