FedEx Q2 FY26: where the revenue came from and where it went
The whole income statement of FedEx for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Sep 1 – Nov 30, 2025
- Reported
- Dec 18, 2025
Revenue$23.5B
+7% year over year
Operating profit$1.3B
5% margin
Net profit$1.0B
4% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 23.5 | 100% | +7% |
| US | 16.7 | 71% | +9% |
| Non US | 6.7 | 29% | +2% |
| Operating expenses | −22.2 | 95% | |
| Salaries and employee benefits | −8.4 | 36% | +0pp |
| Purchased transportation | −5.9 | 25% | +0pp |
| Other | −3.5 | 15% | +0pp |
| Rentals and landing fees | −1.2 | 5% | +0pp |
| Depreciation and amortization | −1.1 | 5% | +0pp |
| Other | −2.1 | 9% | +0pp |
| Operating profit | 1.3 | 5% margin | +1pp |
| Tax | −0.3 | ||
| Net profit | 1.0 | 4% margin | +1pp |
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