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FedEx Freight (FDXF) Financials

FedEx Freight logo
$139.27 -2.08 (-1.47%)
As of 03:33 PM Eastern
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Annual Income Statements for FedEx Freight

Annual Income Statements for FedEx Freight

This table shows FedEx Freight's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2025 2026
Period end date 5/31/2024 5/31/2025 5/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 1,574 1,346 655
Consolidated Net Income / (Loss)		 1,574 1,346 655
Net Income / (Loss) Continuing Operations		 1,574 1,346 655
Total Pre-Tax Income 		2,079 1,802 884
Total Operating Income		 1,753 1,404 540
Total Gross Profit		 3,445 3,109 2,883
Total Revenue		 9,424 8,892 8,795
Operating Revenue		 9,424 8,892 8,795
Total Cost of Revenue		 5,979 5,783 5,912
Operating Cost of Revenue		 5,979 5,783 5,912
Total Operating Expenses		 1,692 1,705 2,343
Selling, General & Admin Expense		 950 939 1,031
Depreciation Expense		 455 471 512
Other Operating Expenses / (Income)		 287 295 800
Total Other Income / (Expense), net		 326 398 344
Interest Expense		 0.00 0.00 57
Interest & Investment Income		 330 388 392
Other Income / (Expense), net		 -4.00 10 9.00
Income Tax Expense		 505 456 229
Basic Earnings per Share		 $10.53 $9.00 $4.38
Weighted Average Basic Shares Outstanding		 149.51M 149.51M 149.51M
Diluted Earnings per Share		 $10.53 $9.00 $4.38
Weighted Average Diluted Shares Outstanding		 149.51M 149.51M 149.51M
Weighted Average Basic & Diluted Shares Outstanding		 - - 149.52M

Quarterly Income Statements for FedEx Freight

No quarterly income statements for FedEx Freight are available.

Annual Cash Flow Statements for FedEx Freight

This table details how cash moves in and out of FedEx Freight's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2025 2026
Period end date 5/31/2024 5/31/2025 5/31/2026
Net Change in Cash & Equivalents		 13 3.00 142
Net Cash From Operating Activities		 1,541 1,531 167
Net Cash From Continuing Operating Activities		 1,541 1,531 167
Net Income / (Loss) Continuing Operations		 1,574 1,346 655
Consolidated Net Income / (Loss)		 1,574 1,346 655
Depreciation Expense		 404 416 449
Non-Cash Adjustments To Reconcile Net Income		 -217 2.00 444
Changes in Operating Assets and Liabilities, net		 -220 -233 -1,381
Net Cash From Investing Activities		 -403 -385 -363
Net Cash From Continuing Investing Activities		 -403 -385 -363
Purchase of Property, Plant & Equipment		 -461 -437 -379
Sale of Property, Plant & Equipment		 58 52 16
Net Cash From Financing Activities		 -1,126 -1,140 335
Net Cash From Continuing Financing Activities		 -1,126 -1,140 335
Repayment of Debt		 -1.00 -63 -26
Issuance of Debt		 0.00 0.00 4,271
Other Financing Activities, net		 -1,125 -1,077 -3,910
Effect of Exchange Rate Changes		 1.00 -3.00 3.00

Quarterly Cash Flow Statements for FedEx Freight

No quarterly cash flow statements for FedEx Freight are available.

Annual Balance Sheets for FedEx Freight

This table presents FedEx Freight's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2025 2026
Period end date 5/31/2025 5/31/2026
Total Assets		 5,022 6,884
Total Current Assets		 284 1,506
Cash & Equivalents		 109 251
Accounts Receivable		 132 1,154
Prepaid Expenses		 43 83
Plant, Property, & Equipment, net		 2,780 2,923
Plant, Property & Equipment, gross		 6,494 6,670
Accumulated Depreciation		 3,714 3,747
Total Noncurrent Assets		 1,954 2,426
Goodwill		 602 602
Other Noncurrent Operating Assets		 1,352 1,824
Total Liabilities & Shareholders' Equity		 5,022 6,884
Total Liabilities		 2,629 7,381
Total Current Liabilities		 773 993
Short-Term Debt		 7.00 43
Accounts Payable		 150 106
Accrued Expenses		 212 283
Current Employee Benefit Liabilities		 227 389
Other Current Liabilities		 172 172
Total Noncurrent Liabilities		 1,856 6,388
Long-Term Debt		 66 4,484
Capital Lease Obligations		 1,188 1,666
Asset Retirement Reserve & Litigation Obligation		 315 13
Noncurrent Deferred & Payable Income Tax Liabilities		 235 220
Other Noncurrent Operating Liabilities		 52 5.00
Commitments & Contingencies		 0.00 0.00
Total Equity & Noncontrolling Interests		 2,393 -497
Total Preferred & Common Equity		 2,393 -497
Total Common Equity		 2,393 -497
Common Stock		 0.00 15
Retained Earnings		 2,400 -509
Accumulated Other Comprehensive Income / (Loss)		 -7.00 -3.00

Quarterly Balance Sheets for FedEx Freight

No quarterly balance sheets for FedEx Freight are available.

Annual Metrics And Ratios for FedEx Freight

This table displays calculated financial ratios and metrics derived from FedEx Freight's official financial filings.

Metric 2024 2025 2026
Period end date 5/31/2024 5/31/2025 5/31/2026
DEI Shares Outstanding		 0.00 0.00 0.00
DEI Adjusted Shares Outstanding		 0.00 0.00 0.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.00
Growth Metrics		 - - -
Revenue Growth		 0.00% -5.65% -1.09%
EBITDA Growth		 0.00% -15.00% -45.46%
EBIT Growth		 0.00% -19.15% -61.17%
NOPAT Growth		 0.00% -20.98% -61.85%
Net Income Growth		 0.00% -14.49% -51.34%
EPS Growth		 0.00% -14.53% -51.33%
Operating Cash Flow Growth		 0.00% -0.65% -89.09%
Free Cash Flow Firm Growth		 0.00% 0.00% 41.86%
Invested Capital Growth		 0.00% 0.00% 52.23%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00%
Profitability Metrics		 - - -
Gross Margin		 36.56% 34.96% 32.78%
EBITDA Margin		 22.85% 20.58% 11.35%
Operating Margin		 18.60% 15.79% 6.14%
EBIT Margin		 18.56% 15.90% 6.24%
Profit (Net Income) Margin		 16.70% 15.14% 7.45%
Tax Burden Percent		 75.71% 74.69% 74.10%
Interest Burden Percent		 118.87% 127.44% 161.02%
Effective Tax Rate		 24.29% 25.31% 25.91%
Return on Invested Capital (ROIC)		 0.00% 59.15% 8.95%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 110.72% 16.18%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 53.35% 60.15%
Return on Equity (ROE)		 0.00% 112.49% 69.09%
Cash Return on Invested Capital (CROIC)		 0.00% -140.85% -32.47%
Operating Return on Assets (OROA)		 0.00% 28.16% 9.22%
Return on Assets (ROA)		 0.00% 26.80% 11.00%
Return on Common Equity (ROCE)		 0.00% 112.49% 69.09%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,327 1,049 400
NOPAT Margin		 14.08% 11.79% 4.55%
Net Nonoperating Expense Percent (NNEP)		 0.00% -51.57% -7.23%
Return On Investment Capital (ROIC_SIMPLE)		 - 28.70% 7.02%
Cost of Revenue to Revenue		 63.44% 65.04% 67.22%
SG&A Expenses to Revenue		 10.08% 10.56% 11.72%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.95% 19.17% 26.64%
Earnings before Interest and Taxes (EBIT)		 1,749 1,414 549
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,153 1,830 998
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 2.73
Price to Earnings (P/E)		 0.00 0.00 36.60
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 2.73%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 5.54
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 3.40
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 29.98
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 54.50
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 74.77
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 179.15
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.00 0.53 -12.46
Long-Term Debt to Equity		 0.00 0.52 -12.37
Financial Leverage		 0.00 0.48 3.72
Leverage Ratio		 0.00 2.10 6.28
Compound Leverage Factor		 0.00 2.67 10.11
Debt to Total Capital		 0.00% 34.51% 108.73%
Short-Term Debt to Total Capital		 0.00% 0.19% 0.75%
Long-Term Debt to Total Capital		 0.00% 34.32% 107.97%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 65.49% -8.73%
Debt to EBITDA		 0.00 0.69 6.21
Net Debt to EBITDA		 0.00 0.63 5.95
Long-Term Debt to EBITDA		 0.00 0.69 6.16
Debt to NOPAT		 0.00 1.20 15.48
Net Debt to NOPAT		 0.00 1.10 14.85
Long-Term Debt to NOPAT		 0.00 1.20 15.37
Altman Z-Score		 0.00 0.00 3.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Current Ratio		 0.00 0.37 1.52
Quick Ratio		 0.00 0.31 1.41
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -2,497 -1,452
Operating Cash Flow to CapEx		 382.38% 397.66% 46.01%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -25.47
Operating Cash Flow to Interest Expense		 0.00 0.00 2.93
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -3.44
Efficiency Ratios		 - - -
Asset Turnover		 0.00 1.77 1.48
Accounts Receivable Turnover		 0.00 67.36 13.68
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 3.20 3.08
Accounts Payable Turnover		 0.00 38.55 46.19
Days Sales Outstanding (DSO)		 0.00 5.42 26.69
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 9.47 7.90
Cash Conversion Cycle (CCC)		 0.00 -4.05 18.78
Capital & Investment Metrics		 - - -
Invested Capital		 0.00 3,546 5,398
Invested Capital Turnover		 0.00 5.02 1.97
Increase / (Decrease) in Invested Capital		 0.00 3,546 1,852
Enterprise Value (EV)		 0.00 0.00 29,918
Market Capitalization		 0.00 0.00 23,976
Book Value per Share		 $0.00 $16.01 ($3.32)
Tangible Book Value per Share		 $0.00 $11.98 ($7.35)
Total Capital		 0.00 3,654 5,696
Total Debt		 0.00 1,261 6,193
Total Long-Term Debt		 0.00 1,254 6,150
Net Debt		 0.00 1,152 5,942
Capital Expenditures (CapEx)		 403 385 363
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -591 305
Debt-free Net Working Capital (DFNWC)		 0.00 -482 556
Net Working Capital (NWC)		 0.00 -489 513
Net Nonoperating Expense (NNE)		 -247 -297 -255
Net Nonoperating Obligations (NNO)		 0.00 1,153 5,895
Total Depreciation and Amortization (D&A)		 404 416 449
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -6.65% 3.47%
Debt-free Net Working Capital to Revenue		 0.00% -5.42% 6.32%
Net Working Capital to Revenue		 0.00% -5.50% 5.83%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $4.38
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 149.51M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $4.38
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 149.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 149.52M
Normalized Net Operating Profit after Tax (NOPAT)		 1,327 1,049 400
Normalized NOPAT Margin		 14.08% 11.79% 4.55%
Pre Tax Income Margin		 22.06% 20.27% 10.05%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 0.00 9.63
NOPAT to Interest Expense		 0.00 0.00 7.02
EBIT Less CapEx to Interest Expense		 0.00 0.00 3.26
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.65
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for FedEx Freight

No quarterly metrics and ratios for FedEx Freight are available.


Financials Breakdown Chart

FedEx Freight Financials - Frequently Asked Questions

According to the most recent income statement we have on file, FedEx Freight's financial year ends in May. Their financial year 2026 ended on May 31, 2026.

FedEx Freight's net income appears to be on a downward trend, with a most recent value of $655 million in 2026, falling from $1.57 billion in 2024. The previous period was $1.35 billion in 2025. Find out what analysts predict for FedEx Freight in the coming months.

FedEx Freight's total operating income in 2026 was $540 million, based on the following breakdown:
  • Total Gross Profit: $2.88 billion
  • Total Operating Expenses: $2.34 billion

Over the last 2 years, FedEx Freight's total revenue changed from $9.42 billion in 2024 to $8.80 billion in 2026, a change of -6.7%.

FedEx Freight's total liabilities were at $7.38 billion at the end of 2026, a 180.8% increase from 2025, and a 180.8% increase since 2025.

In the past 1 years, FedEx Freight's cash and equivalents has ranged from $109 million in 2025 to $251 million in 2026, and is currently $251 million as of their latest financial filing in 2026.

Over the last 2 years, FedEx Freight's book value per share changed from 0.00 in 2024 to -3.32 in 2026, a change of -332.4%.


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Financial statements for NYSE:FDXF last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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