FedEx's revenue 2023

In the fiscal year of 2022, FedEx generated over 90 billion U.S. dollars in revenue. FedEx is ranked among the leading logistics companies in the United States.

Rise of private parcel services

FedEx and other private parcel services became more prominent due to a lack of satisfaction with the United States Postal Service (USPS). Tennessee-headquartered FedEx offers both air and ground courier operations including third-party logistics operations. The company’s key competitors include Georgia-based UPS (United Parcel Service of North America, Inc.), YRC Worldwide and Deutsche Post DHL. In 2021, FedEx was the second-largest for-hire carrier and the leading less-than-truckload (LTL) carrier in the United States.

Changing landscape of the industry

As a result of the world’s growing digitization, the industry has gone through several innovation processes, including the use of GPS* and RFID** technology to track vehicles and parcels. While the ubiquity of electronic mailing continues to trouble the USPS, courier services remain the beneficiaries of growing online retail sales: End customers as well as businesses are increasingly buying physical items online, and these items require delivering. Moreover, parcel processing systems that are able to sort through 20,000 packages in one hour have made the industry more efficient. Satellite computer systems have also improved the state of monitoring Internet-connected courier fleet trucks.

* Global Positioning System
** Radio-frequency Identification

FedEx Corporation's revenue from FY 2009 to FY 2023 (in billion U.S. dollars)

Characteristic	Revenue in billion U.S. dollars
2023	90.16
2022	93.51
2021	83.96
2020	69.22
2019	69.69
2018	65.45
2017	60.32
2016	50.37
2015	47.45
2014	45.57
2013*	44.29
2012*	42.68
2011*	39.3
2010	34.73
2009*	35.5

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Release date

July 2023

More information

Region

Worldwide

Survey time period

FY 2009 to FY 2023

Supplementary notes

* These figures include impairment charges and realignment costs. Therefore, the values are not entirely comparable.

The values for 2009 through 2020 are taken from previous annual reports.

The figures have been rounded.
FedEx's fiscal year ends May 31.

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