FedEx Freight Holding Company, Inc. FDXF
Headquartered in Memphis, Tennessee, FedEx Freight is the largest North American less-than-truckload ("LTL") freight carrier, with industry-leading transit times and service levels, offering choice, simplicity, and reliability to meet the needs of LTL shippers while operating ethically with a commitment to "Safety Above All." As of June 1, 2026, we had approximately 40,000 employees, over 365 locations, including approximately 355 shipping terminals (over 320 of which are in the United States) and approximately 10 linehaul relay sites, and nearly 30,000 motorized vehicles, of which nearly 17,000 are tractors, across all 50 U.S. states, Canada, and Mexico. We also offer freight delivery service to most points in Puerto Rico and the U.S. Virgin Islands. Our robust network established through almost 60 years of operations and consisting of more than 26,000 service center doors strategically positioned in high-demand regions provides critical services that facilitate the transport of goods in North America and powers the supply chains of our customers. Our services and solutions support companies of all sizes, industries, and specialties, and our proximity to our customers allows us to transport their goods quickly, reliably, and efficiently.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $8.79B | $8.89B | $9.42B | — |
| Total operating expenses | $8.26B | $7.49B | $7.67B | — |
| Operating income | $540.0M | $1.40B | $1.75B | — |
| Interest expense | $57.0M | $0 | $0 | — |
| Pre-tax income | $884.0M | $1.80B | $2.08B | — |
| Income tax | $229.0M | $456.0M | $505.0M | — |
| Net income | $655.0M | $1.35B | $1.57B | — |
| EPS, basic | 4.38 | 9.00 | 10.53 | — |
| EPS, diluted | 4.38 | 9.00 | 10.53 | — |
| Shares, diluted (wtd. avg.) | $149.5M | $149.5M | $149.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Receivables | $1.15B | $132.0M | — | — |
| Total current assets | $1.51B | $284.0M | — | — |
| Goodwill | $602.0M | $602.0M | $602.0M | — |
| Total assets | $6.88B | $5.02B | — | — |
| Accounts payable | $106.0M | $150.0M | — | — |
| Total current liabilities | $993.0M | $773.0M | — | — |
| Long-term debt | $4.26B | — | — | — |
| Retained earnings | -$509.0M | $2.40B | — | — |
| Total equity | -$497.0M | $2.39B | $2.12B | $1.67B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $167.0M | $1.53B | $1.54B | — |
| Depreciation and amortisation | $512.0M | $471.0M | $455.0M | — |
| Stock-based compensation | $13.0M | $10.0M | $12.0M | — |
| Capital expenditure | $379.0M | $437.0M | $461.0M | — |
| Investing cash flow | -$363.0M | -$385.0M | -$403.0M | — |
| Financing cash flow | $335.0M | -$1.14B | -$1.13B | — |
| Dividends paid | $48.0M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-053359.
Others in SIC 4513
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| FDX | FEDEX CORP | $76.30B | 17.4x | 7.7% |
| AIRT | AIR T INC | $85.1M | 1.1x | 12.1% |