FedEx Corporation (FDX) Revenue by Segment

FedEx revenue by segment at a glance

In Q3 fiscal 2026 (the quarter ended February 28, 2026), FedEx's largest business segment was Federal Express, with $21.15 billion or 91% of revenue, up 10.3% from a year earlier. Next: Fedex Freight (9%).

By product or service, Package Revenue brought in 84%, Fedex Freight brought in 9% and Freight Revenue brought in 6% of revenue in Q3 fiscal 2026.

By region, United States brought in 73% and Non-US brought in 27% of revenue in Q3 fiscal 2026.

The fastest-growing business segment from a year earlier was Federal Express (+10.3%).

From company filings, in USD; latest quarter ended February 28, 2026; quarterly data from Q2 fiscal 2018.

FedEx Corporation

FDXManufacturing and Production

United States

Manufacturing and Production

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Federal ExpressFedex ExpressFedex GroundFedex FreightCorporate, reconciling items and eliminationsCorporate and EliminationsFedex ServicesFed Ex Trade Networks OperatingOther

Q4 FY26 breakdown

Fiscal quarter ended May 31, 2026 · calculated (full year minus the other periods)

Item	Revenue	Share	vs year before
Federal Expresscalc	USD 21.57B	90.0%	+13.7%
Fedex Freightcalc	USD 2.41B	10.0%	+4.8%
Corporate and Eliminationsicalc	USD 1.03B		+8.8%

Sum of items USD 23.98B; corporate items and eliminations USD 1.03B. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18
Federal Express	21.6B	21.2B	20.4B	19.1B	19.0B	19.2B	18.8B	18.3B	–	18.7B	18.8B	18.4B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Fedex Express	–	–	–	–	–	–	–	–	–	–	–	–	–	10.3B	10.9B	11.1B	–	11.3B	11.6B	11.0B	–	10.8B	10.4B	9.6B	–	8.9B	9.1B	8.9B	–	9.0B	9.6B	9.2B	–	9.1B	9.1B
Fedex Ground	–	–	–	–	–	–	–	–	–	–	–	–	–	8.7B	8.4B	8.2B	–	8.8B	8.3B	7.7B	–	8.0B	7.3B	7.0B	–	5.8B	5.3B	5.2B	–	5.3B	5.1B	4.8B	–	4.8B	4.5B
Fedex Freight	2.4B	2.0B	2.1B	2.3B	2.3B	2.1B	2.2B	2.3B	–	2.2B	2.5B	2.4B	–	2.2B	2.5B	2.7B	–	2.3B	2.3B	2.3B	–	1.8B	1.9B	1.8B	–	1.7B	1.8B	1.9B	–	1.8B	1.9B	2.0B	–	1.6B	1.7B
Corporate, reconciling items and eliminations	–	–	–	–	–	–	–	–	–	861.0M	940.0M	870.0M	–	893.0M	1.0B	1.2B	–	1.2B	1.3B	1.1B	–	898.0M	907.0M	800.0M	–	974.0M	1.1B	1.0B	–	592.0M	1.2B	1.1B	–	590.0M	623.0M
Corporate and Eliminations	1.0B	855.0M	897.0M	871.0M	946.0M	890.0M	949.0M	945.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Fedex Services	–	–	–	–	–	–	–	–	–	–	–	–	–	87.0M	68.0M	70.0M	–	65.0M	77.0M	35.0M	–	8.0M	8.0M	8.0M	–	6.0M	5.0M	4.0M	–	402.0M	4.0M	9.0M	–	397.0M	416.0M
Fed Ex Trade Networks Operating	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	834.0M
Intersegment eliminations	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	590.0M	- 211.0M

FedEx revenue by business segment, last 4 quarters

Business segment	Q3 FY26	Q2 FY26	Q1 FY26	Q3 FY25	Share
Federal Express	$21.2B	$20.4B	$19.1B	$19.2B	91%
Fedex Freight	$2.0B	$2.1B	$2.3B	$2.1B	9%

In USD, fiscal quarters as reported; share = part of Q3 FY26 revenue.

FedEx revenue by product or service, last 4 quarters

Product or service	Q3 FY26	Q2 FY26	Q1 FY26	Q3 FY25	Share
Package Revenue	$19.4B	$18.6B	$17.4B	–	84%
Fedex Freight	$2.0B	$2.1B	$2.3B	$2.1B	9%
Freight Revenue	$1.5B	$1.5B	$1.4B	–	6%
Other	$339.0M	$367.0M	$249.0M	$216.0M	1%

In USD, fiscal quarters as reported; share = part of Q3 FY26 revenue.

FedEx revenue by region, last 4 quarters

Region	Q3 FY26	Q2 FY26	Q1 FY26	Q3 FY25	Share
United States	$17.4B	$16.7B	$16.0B	$16.1B	73%
Non-US	$6.6B	$6.7B	$6.3B	$6.0B	27%

In USD, fiscal quarters as reported; share = part of Q3 FY26 revenue.

Questions and answers

What are FedEx's business segments?

Federal Express and Fedex Freight (as reported for Q3 fiscal 2026).

Which business segment makes the most money for FedEx?

Federal Express: $21.15 billion, or 91% of revenue, in Q3 fiscal 2026.

What are FedEx's main products and services?

By revenue in Q3 fiscal 2026: Package Revenue (84%), Fedex Freight (9%), Freight Revenue (6%) and Other (1%).

Where does FedEx make its money?

By region in Q3 fiscal 2026: United States (73%) and Non-US (27%).

MoreFedEx stock overview FedEx financials FedEx executive team FedEx shareholders

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Federal ExpressFedex ExpressFedex GroundFedex FreightCorporate, reconciling items and eliminationsCorporate and EliminationsFedex ServicesFed Ex Trade Networks OperatingOther

Q4 FY26 breakdown

Fiscal quarter ended May 31, 2026 · calculated (full year minus the other periods)

Item	Revenue	Share	vs year before
Federal Expresscalc	USD 21.57B	90.0%	+13.7%
Fedex Freightcalc	USD 2.41B	10.0%	+4.8%
Corporate and Eliminationsicalc	USD 1.03B		+8.8%

Sum of items USD 23.98B; corporate items and eliminations USD 1.03B. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18
Federal Express	21.6B	21.2B	20.4B	19.1B	19.0B	19.2B	18.8B	18.3B	–	18.7B	18.8B	18.4B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Fedex Express	–	–	–	–	–	–	–	–	–	–	–	–	–	10.3B	10.9B	11.1B	–	11.3B	11.6B	11.0B	–	10.8B	10.4B	9.6B	–	8.9B	9.1B	8.9B	–	9.0B	9.6B	9.2B	–	9.1B	9.1B
Fedex Ground	–	–	–	–	–	–	–	–	–	–	–	–	–	8.7B	8.4B	8.2B	–	8.8B	8.3B	7.7B	–	8.0B	7.3B	7.0B	–	5.8B	5.3B	5.2B	–	5.3B	5.1B	4.8B	–	4.8B	4.5B
Fedex Freight	2.4B	2.0B	2.1B	2.3B	2.3B	2.1B	2.2B	2.3B	–	2.2B	2.5B	2.4B	–	2.2B	2.5B	2.7B	–	2.3B	2.3B	2.3B	–	1.8B	1.9B	1.8B	–	1.7B	1.8B	1.9B	–	1.8B	1.9B	2.0B	–	1.6B	1.7B
Corporate, reconciling items and eliminations	–	–	–	–	–	–	–	–	–	861.0M	940.0M	870.0M	–	893.0M	1.0B	1.2B	–	1.2B	1.3B	1.1B	–	898.0M	907.0M	800.0M	–	974.0M	1.1B	1.0B	–	592.0M	1.2B	1.1B	–	590.0M	623.0M
Corporate and Eliminations	1.0B	855.0M	897.0M	871.0M	946.0M	890.0M	949.0M	945.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Fedex Services	–	–	–	–	–	–	–	–	–	–	–	–	–	87.0M	68.0M	70.0M	–	65.0M	77.0M	35.0M	–	8.0M	8.0M	8.0M	–	6.0M	5.0M	4.0M	–	402.0M	4.0M	9.0M	–	397.0M	416.0M
Fed Ex Trade Networks Operating	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	834.0M
Intersegment eliminations	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	590.0M	- 211.0M