CluenexFedEx FDX
FedEx scores average on business quality (4.9 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What FedEx does
FedEx moves express shipments, freight, and parcels globally, charging businesses and consumers for time-critical logistics. The company relies on its integrated air and ground networks to connect global supply chains. Management is driving network consolidation to slash structural costs and improve operating leverage across business units.
- What it does best
FedEx dominates global air express logistics with a gross margin of 62.1%, outperforming UPS at 81.9% in network asset scale while maintaining deep enterprise integration. This global sorting infrastructure requires massive capital intensity, creating a nearly impassable barrier for new entrants.
- The main risk
Execution risk around network consolidation remains the central threat, where any disruption to service quality risks driving enterprise customers directly to competitors like UPS.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin sits thin at 7.0%, while FCF margin reached 22% in sector percentile terms. Margins are expanding due to network consolidation, though low operating margins show limited scaling cushion.
The company holds a wide economic moat rooted in physical scale, placing in the top decile for gross margins at 62.1% and locking in major enterprise shippers. Rivals cannot replicate this multi-billion dollar air and ground network within years.
Revenue grew 7.7% to $94.7B over the latest annual period, accelerating significantly compared to the flat-to-down years seen between 2023 and 2025.
Total debt sits at $25.7B against $13.3B in cash, producing net debt of $12.4B. Free cash flow reached $5.1B, showing a sharp improvement toward a stronger balance sheet.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on FDX
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
FedEx scores average on the Cluenex quality check (4.9 of 10), measured against its own industry. Profitability is weak, moat strong, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Oct 28, 2026, after the close.
See FDX today
- Today's verdict on FDX, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “FedEx (FDX)”, https://cluenex.com/stocks/fdx/, data as of Oct 10, 2026.