FedEx (FDX)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $70.1B, FedEx's free cash flow of $5.1B (fiscal 2026) would need to grow about 0% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 7 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from FedEx's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from FDX's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from FedEx's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $93.5B | $90.2B | $87.7B | $87.9B | $94.7B |
| Net income | $3.8B | $4.0B | $4.3B | $4.1B | $4.4B |
| Free cash flow | $3.1B | $2.7B | $3.1B | $3.0B | $5.1B |
| EPS (diluted) | — | — | — | — | — |
| Operating margin | 6.7% | 5.4% | 6.3% | 5.9% | 5.8% |
Where the revenue comes from
Revenue by segments, fiscal 2026.
Superinvestors who own FDX
From each investor's latest 13F filing (what a 13F shows). 13 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $2.6B | 1.5% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Trimmed | $2.3B | 1.2% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $839M | 0.29% | Q2 2026 |
| Andreas Halvorsen Viking Global Investors |
Added | $674M | 1.9% | Q2 2026 |
| Charles Brandes Brandes Investment Partners, LP |
Trimmed | $176M | 1.2% | Q2 2026 |
| Ric Dillon Diamond Hill Capital Management |
Trimmed | $76M | 0.61% | Q2 2026 |
| Mason Hawkins Southeastern Asset Management |
Trimmed | $61M | 3.2% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $39M | 0.09% | Q2 2026 |
| John Rogers Ariel Investments |
Trimmed | $30M | 0.30% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $8M | 0.54% | Q2 2026 |
| Tweedy, Browne Tweedy, Browne Company |
Trimmed | $3M | 0.26% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $1M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by FedEx's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 25, 2026 | Maria Elvira Salazar |
0 | $357.69 | — |
| Mar 25, 2026 | Maria Elvira Salazar |
0 | $357.69 | — |
| Mar 19, 2026 | Maria Elvira Salazar |
0 | $355.15 | — |
| Mar 19, 2026 | Maria Elvira Salazar |
0 | $355.15 | — |
| Jan 9, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $312.18 | — |
| Jan 9, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $312.18 | — |
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In the full deep dive
Questions
What growth does FedEx's stock price imply?
At a market value of $70.1B, FedEx would need its free cash flow to grow about 0% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 7 years its free cash flow grew 70% a year.
Are FedEx insiders buying the stock?
6 open-market insider purchases of FDX in the last 12 months, from SEC Form 4 filings.
Which superinvestors own FedEx?
13 of the superinvestors Investingly tracks hold FDX in their latest 13F, including PRIMECAP Management, Dodge & Cox, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.