FDXF FedEx Freight Holding Company, Inc.

Overview and Growth

Fiscal 2026 results for FedEx Freight Holding Company, Inc. combined $8.79B of revenue with net income of $655.00M and an operating cash inflow of $167.00M. Revenue of $8.79B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 1.1% below fiscal 2025 revenue of $8.89B, marking a top-line contraction. On a per-share basis, diluted EPS was $4.38, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $9.00 in fiscal 2025, the current result was 51.3% lower. At period end, total assets were $6.88B, framing the scale of the company’s operating and financing commitments. Revenue equaled 1.28x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operations produced $540.00M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 6.1%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $655.00M, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 7.4% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $884.00M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 10.1%, relating income before taxes directly to revenue. The company recognized $229.00M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 25.9%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end assets was 9.5%, connecting net income with the company’s total asset base. The company moved from fiscal 2025 net income of $1.35B to $655.00M, with the current outcome ending below that comparison.

Liquidity and Capital Structure

The company held $6.88B of assets against $7.38B of liabilities and -$497.00M of equity, revealing how the asset base was financed. The company reported negative equity of -$497.00M, a capital deficit that reduces its ability to absorb losses through book equity. Current assets were $1.51B against $993.00M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.52x, leaving a positive buffer for near-term obligations. The company carried $4.26B of total debt at period end, which frames its leverage and debt-service burden. Debt represented 61.9% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 107.2%, placing reported obligations against the full positive asset balance. The asset base changed 37.1% from $5.02B in fiscal 2025, leaving current total assets higher year over year. Reported equity changed 120.8% from $2.39B in fiscal 2025, placing the current capital base lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $167.00M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 0.25x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $379.00M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 226.9% of operating cash flow, quantifying the share of cash from operations directed to investment. Negative free cash flow was $212.00M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 2.4%. The free-cash-flow deficit equaled 3.1% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending May 31, 2026. Analysis generated Oct 21, 2026.