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Forensic Analysis · Air Transportation · as of Nov 9, 2026

FedEx Corp (FDX)

A forensic read on FedEx Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
2.9
Distress distance
Clean
Earnings quality
1
Forensic signals
14.8%
ROE
7.7%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

FedEx Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.9, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

6.2%
FY2026
Return on invested capital. Return on invested capital is 6.2% in the latest fiscal year and steady across FY2024–FY2026, inside a 0.4-point range. After-tax operating profit was $4.1B in FY2024 and $4.2B in FY2026, with operating income at 6.3% of revenue in FY2024, 5.9% in FY2025 and 5.8% in FY2026. The capital base behind it went from $67.2B in FY2024 to $67.1B in FY2026 (0%), while the revenue it carried went from $87.7B to $94.7B.

Key fundamentals

Latest Revenue$94.72B
Revenue Growth YoY+7.7%
Revenue CAGR (2yr)+3.9%
Net Margin4.7%
Free Cash Flow$5.12B
Return on Equity14.8%
Debt / Equity0.76x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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