# FedEx (FDX) Forecast Calculator

Interactive five-year financial forecast and DCF for FedEx. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/fedex/forecast
- Industry: Industrials
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 69693000000 | 123000000 | 7819000000 | 540000000 |
| 2022 | 69217000000 | -771000000 | 6032000000 | 1286000000 |
| 2023 | 83959000000 | 4251000000 | 9650000000 | 5231000000 |
| 2024 | 93512000000 | 3069000000 | 10215000000 | 3826000000 |
| 2025 | 90155000000 | 2674000000 | 9088000000 | 3972000000 |

## Frequently asked questions

### What services does FedEx Corporation provide globally?

FedEx Corporation offers a broad portfolio of transportation, e-commerce, and business services worldwide. It operates a massive, integrated air-ground network to deliver time-sensitive packages and heavy freight across over 220 countries and territories.

### What are the main drivers of FedEx's revenue?

FedEx's revenue is primarily driven by its Federal Express segment, which accounts for approximately 86% of its total revenue through its unified air-ground network. The company also generates significant revenue from its FedEx Freight segment, providing less-than-truckload freight transportation services.

### What is a key capital expenditure assumption in the FedEx financial model?

A key capital expenditure assumption in the financial model is Capex_Pct_Revenue at 0.07488741324371226. This reflects the company's strategic shift towards maintenance and efficiency upgrades, such as facility consolidation and automation, rather than significant capacity expansion.

### What is the primary objective of the FedEx financial model regarding valuation?

The main objective of the FedEx financial model is to evaluate the equity valuation and cash flow generation of the corporation. It specifically focuses on the anticipated margin expansion from the "Network 2.0" consolidation and the financial impact of the planned FedEx Freight spin-off in June 2026.

### Is an Excel financial model available for FedEx, and what is its forecast horizon?

Yes, a downloadable Excel financial model for FedEx is available. This general corporate model provides a forecast horizon spanning from FY2026 through FY2030.

### How does FedEx's "Network 2.0" initiative aim to change its business model?

The "Network 2.0" initiative aims to transition FedEx's historically asset-heavy business model into a more flexible, data-driven network through facility consolidation and automation of sorting hubs. This strategy is expected to drive margin expansion and enhance operational efficiency.