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Monday 9 November 2026
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FedEx Freight Holding Company Inc.
FDXFIndustrials Integrated Freight & Logistics
FedEx Freight Holding Company Inc.’s revenue for fiscal 2026 (year ended May 2026) was $8.8 billion, roughly unchanged from fiscal 2025.
- Free cash flow
- −60.9%
- Total debt
- +5,956.2%
Quarter to September 2026, against a year earlier
123.56
0.85
−0.68%
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Analyst price targets
Free accountTen years at a glance Fiscal years to May
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Sep ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 9,424 | 9,092 | 8,778 | 8,795 | — | (2.3%) | 9,724 | 10,148 | 10,369 | +5.6% | |
| Gross margin, % | — | — | — | — | — | — | 84.68 | 90.98 | 90.85 | 85.30 | — | +0.6 pt | ||||||
| EBT | — | — | — | — | — | — | 2,079 | 1,917 | 1,404 | 884 | — | (24.8%) | ||||||
| EBT margin, % | — | — | — | — | — | — | 22.06 | 21.08 | 15.99 | 10.05 | — | (12.0) pt | ||||||
| Net income | — | — | — | — | — | — | 0 | 0 | 0 | 655 | — | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 0.00 | 60.81 | 58.71 | 58.83 | 0.00 | n/m | |||||
| Earnings | — | — | — | — | — | — | — | 9.63 | 9.00 | 4.38 | — | (32.6%) | ||||||
| Cash flow | — | — | — | — | — | — | — | 0.00 | 0.00 | 1.12 | 0.00 | n/m | ||||||
| Capex | — | — | — | — | — | — | — | 0.00 | 0.00 | (2.43) | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | — | — | — | 0.00 | 0.00 | (1.31) | 0.00 | n/m | ||||||
| Book value | — | — | — | — | — | — | — | 11.08 | 0.00 | (3.32) | (1.69) | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | 150 | 150 | 150 | — | 0.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| P/S | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| P/B | — | — | — | — | — | — | 11.88 | 11.88 | 11.88 | 0.00 | 0.00 | 8.9 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/FCF | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | 1,541 | 1,531 | 167 | — | (67.1%) | |||||
| Capex | — | — | — | — | — | — | — | 0 | (385) | (363) | — | n/m | ||||||
| Free cash flow | — | — | — | — | — | — | — | 0 | 1,146 | (196) | — | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | (1,204) | (994) | 513 | 710 | n/m | |||||
| Net debt | — | — | — | — | — | — | — | (37) | 75 | 4,276 | 4,033 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | 1,656 | 2,393 | (497) | (252) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | 57.35 | 19.24 | 10.18 | 0.00 | +10.2 pt | |||||
| ROIC | — | — | — | — | — | — | 0.00 | 59.14 | 1,023.33 | 8.93 | 0.00 | +8.9 pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 0.00 | 49.34 | 93.37 | 0.00 | +93.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 40,000 | 40,000 | — | 0.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.22 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to May 2026 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2026
| Priority | 5,560 | 63.22% |
|---|---|---|
| Economy | 2,827 | 32.14% |
| Other | 408 | 4.64% |
| Gross margin | 85.30% | |
| Operating margin | 6.14% | |
| Pre-tax margin | 10.05% |
FedEx Freight Holding Company Inc. vs peers in Integrated Freight & Logistics (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| UPS United Parcel Service, Inc. | $92.2B | 20.8× | 18.6× | +6.71% (above 0%: growing) | −11.61% (below 0%: shrinking) | +33.65% (above 0%: growing) | 75.37% | 7.63% | Compare |
| FDX FedEx Corporation | $72.2B | 18.8× | 14.8× | +11.86% (above 0%: growing) | −68.48% (below 0%: shrinking) | +62.20% (above 0%: growing) | 66.20% | 4.67% | Compare |
| EXPD Expeditors International of Washington, Inc. | $23.8B | 23.4× | 21.3× | +41.90% (above 0%: growing) | +60.74% (above 0%: growing) | +2.11% (above 0%: growing) | 29.55% | 10.84% | Compare |
| JBHT J.B. Hunt Transport Services, Inc. | $20.3B | 30.6× | 30.0× | +20.44% (above 0%: growing) | +3.41% (above 0%: growing) | −39.44% (below 0%: shrinking) | 41.09% | 6.72% | Compare |
| FDXF FedEx Freight Holding Company Inc. | $18.5B | — | — | — | — | −60.91% (below 0%: shrinking) | 90.38% | 10.36% | |
| CHRW C.H. Robinson Worldwide, Inc. | $14.5B | 22.2× | 20.5× | +29.52% (above 0%: growing) | +24.20% (above 0%: growing) | −58.50% (below 0%: shrinking) | 15.09% | 5.07% | Compare |
| ZTO ZTO Express (Cayman) Inc. | $11.4B | 10.9× | 10.5× | +29.83% (above 0%: growing) | +73.53% (above 0%: growing) | +121.35% (above 0%: growing) | 25.66% | 22.19% | Compare |
| GXO GXO Logistics, Inc. | $6.2B | 46.0× | 34.2× | +5.74% (above 0%: growing) | +9.75% (above 0%: growing) | −54.55% (below 0%: shrinking) | 14.65% | 2.67% | Compare |
| LSTR Landstar System, Inc. | $4.8B | 30.4× | 25.1× | +25.26% (above 0%: growing) | +153.29% (above 0%: growing) | −17.47% (below 0%: shrinking) | 21.93% | 4.33% | Compare |
| Median of peers | $17.4B | 22.8× | 20.9× | +22.85% | +16.98% | −7.68% | 27.61% | 5.90% |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
60.79%
Held by the ten largest
33.01%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 13.08m | 8.75% | +13.08m |
| BlackRock | 9.08m | 6.07% | +9.08m |
| Dodge & Cox | 7.18m | 4.80% | +7.18m |
| PRIMECAP Management | 4.05m | 2.71% | +4.05m |
| Franklin Templeton | 3.49m | 2.34% | +3.49m |
| Invesco | 3.47m | 2.32% | +3.47m |
| Geode Capital Management | 2.90m | 1.94% | +2.90m |
| VIKING GLOBAL INVESTORS LP | 2.37m | 1.58% | +2.37m |
| Slate Path Capital LP | 2.25m | 1.50% | +2.25m |
| UBS | 1.49m | 1.00% | +1.49m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
FedEx Freight is a North American less-than-truckload, or LTL, freight transportation provider headquartered in Memphis, Tennessee. LTL means it combines shipments from multiple customers in the same trailer rather than dedicating a whole trailer to one shipper. It picks up freight locally, moves it through service centers and linehaul routes, and delivers it to the recipient.
Its core services are FedEx Freight Priority and FedEx Freight Economy. Priority is for customers that need time-definite transport: it offers next-business-day service for shipments travelling up to 600 miles and second-business-day service for shipments travelling up to 1,600 miles. Economy is for shipments with more flexible delivery requirements. Both services use one integrated network.