Fedex's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Fedex (FDX) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Fedex vs Its Competitors
- TTM: Trailing 12-month revenue of 94,720M vs 150,177M combined for tracked competitors (38.7% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+5.6% annualized vs trailing 12 months), vs accelerating (+4.7%) for its tracked peer group.
- Growth: Fedex generated 12.5% revenue growth year over year in Q4 2026, vs 10.2% for its tracked competitors combined.
- Profitability: Its 6.4% net margin compares with 2.6% for the peer group.
- Scale: Fedex ranks #2 of 23 companies by market capitalization in the Transport & Logistics industry, holding 26.0% of industry market cap.
- Peer revenue share: Fedex accounted for 38.9% of combined revenue among its tracked peer group, up from 38.4% a year earlier.
- Peer differentiation: Revenue per employee of $0.21M compares with $0.21M for the peer group (1.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FDX Sales vs. its Competitors, Q4 2026
Fedex reported revenue growth of 12.54 % year on year in Q4 2026, above its competitors' combined revenue growth of 10.24 %.
With a net margin of 6.37 %, Fedex achieved higher profitability than its competitors (2.56 %).
Fedex generated 38.89 % of the combined sales of its peer group, up from 38.40 % a year earlier.
Fedex vs. its Competitors, Q4 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Fedex and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Fedex Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Fedex's competitor groups requires a Commercial License.
For context: the Transport & Logistics industry grew revenue 7.9% year over year, combined, vs 12.5% for Fedex. Fedex's share of combined industry revenue moved from 28.65% to 29.88%, a gain of 1.23 percentage points.
Fedex's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Fedex Corporation | Yes | Yes | Yes | No |
| Competitors combined (9) | ||||
| High-Confidence Competitors (6) | ||||
| Similar-Size Competitors (6) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 0.00 % (0 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
FDX Stock Performance relative to its Competitors
FDX Stock Performance relative to High-Confidence Competitors
FDX Stock Performance relative to Similar-Size Competitors
FDX Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Expeditors International Of Washington Inc | 282.9% | Outperformed |
| 2 | Pitney Bowes Inc | 282.9% | Outperformed |
| 3 | Ryder System Inc | 282.9% | Outperformed |
| 4 | Air T Inc | 282.9% | Outperformed |
| 5 | United Parcel Service Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Fedex's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Fedex's Comment on Competition and Industry Peers
The transportation and business services markets are both highly competitive and sensitive to price and service, especially in periods of little or no macro-economic growth. Some of our competitors have more financial resources than we do, or they are controlled or subsidized by foreign governments, which enables them to raise capital more easily. We also compete with regional transportation providers that operate smaller and less capital-intensive transportation networks. In addition, high volume package shippers are developing in-house ground delivery capabilities, which would in turn reduce our revenues and market share. We believe we compete effectively with these companies — for example, by providing more reliable service at compensatory prices. However, an irrational pricing environment can limit our ability not only to maintain or increase our prices (including our fuel surcharges in response to rising fuel costs), but also to maintain or grow our market share. While we believe we compete effectively through our current service offerings, if our current competitors or potential future competitors offer a broader range of services or more effectively bundle their services or our current customers become competitors, it could impede our ability to maintain or grow our market share.
Competitors within the U.S. include other package delivery concerns, principally United Parcel Service, Inc. (“UPS”), passenger airlines offering express package services, regional delivery concerns, air freight forwarders and the USPS. FedEx Express’s principal international competitors are DHL, UPS, TNT Express, foreign postal authorities, freight forwarders, passenger airlines and all-cargo airlines. Many of FedEx Express’s international competitors are government-owned, -controlled or -subsidized carriers, which may have greater resources, lower costs, less profit sensitivity and more favorable operating conditions than FedEx Express.
FedEx Ground is headquartered in Pittsburgh, Pennsylvania, and its primary competitors are UPS, the USPS and regional delivery carriers.
FedEx Freight’s primary competitors are YRC Worldwide Inc. (which includes YRC Regional Transportation and YRC Freight), Con-way Freight (a subsidiary of Con-way Inc.), UPS Freight, Old Dominion Freight Line, Inc. and ABF Freight (a subsidiary of ArcBest Corporation).
Publicly Traded Peers of Fedex Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Fedex Corporation | 69,226.35 | 94,720.00 |
| United Parcel Service Inc | 80,206.75 | 89,930.00 |
| Expeditors International Of Washington Inc | 24,774.13 | 12,036.00 |
| C h Robinson Worldwide Inc | 17,751.89 | 16,996.51 |
| Ryder System Inc | 9,101.51 | 12,818.00 |
| Gxo Logistics Inc | 5,180.69 | 13,641.00 |
| SUBTOTAL | 209,091.62 | 244,911.77 |
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Sources: Fedex Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Fedex Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Fedex's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Tianci International Inc | Named by the company | 85% |
| FREEP | Named by the company | 85% |
| Xpo Inc | Named by the company | 85% |
| Air T Inc | Named by the company | 85% |
| OMI | Named by the company | 85% |
| Forward Air Corporation | Named by the company | 85% |
| Verifyme Inc | Named by the company | 85% |
| Karat Packaging Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Fedex's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Fedex's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Fedex Corporation | Federal Express 86.86 % |
| United Parcel Service Inc | U.S. Domestic Package 66.62 % |
| C h Robinson Worldwide Inc | North American Service Transportation (nast) 72.83 % |
| Ryder System Inc | Fleet Management Solutions 46.61 % |
| Gxo Logistics Inc | Reportable 100.00 % |
| Pitney Bowes Inc | SendTech Solutions 65.76 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Fedex's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Fedex Corporation | 69,226 | 209,558 | 9,801 |
| United Parcel Service Inc | 80,207 | 195,500 | 9,935 |
| Expeditors International Of Washington Inc | 24,774 | 601,800 | 46,067 |
| C h Robinson Worldwide Inc | 17,752 | 1,433,700 | 53,423 |
| Ryder System Inc | 9,102 | 248,411 | 9,612 |
| Gxo Logistics Inc | 5,181 | 88,578 | 877 |
| PEERS TOTAL | 139,865 | 212,217 | 9,416 |
Fedex's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Fedex Corporation | United States 71.73 % |
| Expeditors International Of Washington Inc | US 34.30 % |
| Ryder System Inc | United States 92.53 % |
| Gxo Logistics Inc | United Kingdom 48.36 % |
| Tianci International Inc | HK 54.52 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Fedex's Position in Industry Market Structure
Market-capitalization share and concentration across all 23 companies in Fedex's industry classification, broader than the peer set above. Market cap in millions of $.Fedex ranks #2 of 23 companies by market capitalization in its industry, holding 25.99 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,932, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | United Parcel Service Inc | 79,311 | 30.31 % |
| 2 | Fedex Corporation | 68,015 | 25.99 % |
| 3 | Old Dominion Freight Line Inc | 36,448 | 13.93 % |
| 4 | J b Hunt Transport Services Inc | 21,369 | 8.17 % |
| 5 | Zto Express cayman Inc | 1,234 | 5.2% |
| 6 | Tfi International Inc | 1,234 | 5.2% |
| 7 | Saia Inc | 1,234 | 5.2% |
| 8 | Landstar System Inc | 1,234 | 5.2% |
| 9 | Schneider National Inc | 1,234 | 5.2% |
| 10 | Arcbest Corporation | 1,234 | 5.2% |
Market cap and industry share for the rest of Fedex's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Fedex's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | United Parcel Service Inc | 79,311 | 12.86 % |
| 2 | Fedex Corporation | 68,015 | 50.75 % |
| 3 | Old Dominion Freight Line Inc | 36,448 | 24.35 % |
| 4 | J b Hunt Transport Services Inc | 1,234 | 12.3% |
| 5 | Zto Express cayman Inc | 1,234 | 12.3% |
| 6 | Tfi International Inc | 1,234 | 12.3% |
| 7 | Saia Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Fedex's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Fedex's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Transport & Logistics industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (24 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 93.91 % | 67.99 % (avg) | +25.9 pp |
| Operating Margin | 5.77 % | industry median | +5.1 pp |
| EBITDA Margin | 13.44 % | 10.81 % (avg) | +2.6 pp |
| Capital Intensity (Capex / Revenue) | - | 6.32 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Fedex's Valuation vs Competitive Position
Valuation multiples vs the Transport & Logistics industry average (24 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 19.5x | 26.1x | -6.7x |
| EV / EBITDA | 7.6x | 15.7x | -8.1x |
| P/B | 2.6x | 3.1x | -0.5x |
| Return on Equity | 15.11 % | industry aggregate | -2.27 % |
| Return on Invested Capital | 5.76 % | 4.30 % (avg) | 1.46 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Fedex's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 10.24 % | 0.69 % | 8.01 % | 19.84 % | 5.07 % | -6.53 % | -0.63 % | 3.09 % |
| Operating Margin | 6.88 % | 5.43 % | 5.27 % | 6.47 % | 5.97 % | 6.03 % | 5.64 % | 6.27 % |
| Return on Invested Capital | 7.63 % | 5.31 % | 4.69 % | 6.21 % | 6.63 % | 7.03 % | 6.45 % | 7.01 % |
| P/E | 9.2x | 431.6x | 29.4x | 13.7x | 13.9x | 15.0x | 17.5x | 15.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Fedex's Strategic Group Map
Every company in Fedex's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Fedex is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Fedex's BCG Growth-Share Matrix
Relative market share (vs Fedex's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Fedex falls in the Dog quadrant: relative market share of 0.86x vs its largest competitor, in an industry growing revenue 3.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Fedex's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,932 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Fedex's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Fedex's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Fedex's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Fedex falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Fedex's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 5.1 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+5.6% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
No rule matched.
Opportunities
- Trades at a lower P/E than the industry average (19.5x vs 26.1x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Fedex's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Fedex Corporation | 0.49 | 1.36 | 1.00 |
| United Parcel Service Inc | 0.39 | 1.23 | 1.94 |
| Expeditors International Of Washington Inc | 0.56 | 1.73 | - |
| C h Robinson Worldwide Inc | 0.08 | 1.57 | 0.75 |
| Ryder System Inc | 0.06 | 0.78 | 3.85 |
| Gxo Logistics Inc | 0.18 | 0.80 | 1.27 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Fedex's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Fedex Corporation | Q2 2026 | +12.5 % | -3.3 % |
| United Parcel Service Inc | Q2 2026 | +7.6 % | -52.9 % |
| Expeditors International Of Washington Inc | Q2 2026 | +32.1 % | +45.3 % |
| C h Robinson Worldwide Inc | Q2 2026 | +19.3 % | +22.5 % |
| Ryder System Inc | Q2 2026 | +5.0 % | +1.5 % |
| Gxo Logistics Inc | Q2 2026 | +4.3 % | -3.6 % |
| PEERS TOTAL | +11.1 % | -24.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Fedex's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Fedex Corporation | Q2 2026 | +264.6 % | +0.1 % |
| United Parcel Service Inc | Q2 2026 | +113.0 % | -38.3 % |
| Expeditors International Of Washington Inc | Q2 2026 | +37.8 % | -24.5 % |
| C h Robinson Worldwide Inc | Q2 2026 | - | -9.5 % |
| Ryder System Inc | Q2 2026 | +49.9 % | -41.2 % |
| Gxo Logistics Inc | Q2 2026 | +4.3 % | +38.3 % |
Fedex's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Fedex Corporation | 4.79% | 6.76% | 15.11% |
| United Parcel Service Inc | 6.36% | 7.71% | 29.02% |
| Expeditors International Of Washington Inc | 18.81% | 38.74% | 40.73% |
| C h Robinson Worldwide Inc | 11.86% | 17.42% | 36.01% |
| Ryder System Inc | 3.04% | 3.11% | 16.70% |
| Gxo Logistics Inc | 1.11% | 1.62% | 4.49% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Fedex's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Fedex Corporation | 17.81 | 0.73 |
| United Parcel Service Inc | 17.53 | 0.89 |
| Expeditors International Of Washington Inc | 27.53 | 2.06 |
| C h Robinson Worldwide Inc | 28.30 | 1.04 |
| Ryder System Inc | 19.17 | 0.71 |
| Gxo Logistics Inc | 38.59 | 0.38 |
| PEERS AVERAGE | 18.85 | 0.85 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.