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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- U.S.
- International
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| U.S. | $8.55B | $8.64B | $9.16B |
| International | $243.0M | $247.0M | $266.0M |
As the company reported it, from the “DISAGGREGATED REVENUE (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $9.42B | $8.89B | $8.79B |
| Gross profit | — | — | — | — |
| Net income | — | $1.57B | $1.35B | $655.0M |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Change of control Control of the company has changed hands. Item 5.01
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Code of ethics change The code of ethics changed, or somebody was excused from part of it. Item 5.05
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 4513
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| AIRT | AIR T INC | $69.5M | 0.9x | 12.1% |
| FDX | FEDEX CORP | — | 16.1x | 7.7% |