Income StatementBalance SheetCash FlowSegments
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FedEx Cash Flow Statement

Operating, investing, and financing cash movements

FedEx generated $8.2B in operating cash flow over the trailing twelve months. After $3.8B in capital expenditures, free cash flow was $4.4B. Free cash flow increased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$8.2BNet Cash From Investing (TTM)-$3.9BNet Cash From Financing (TTM)$2.0BCapital Expenditures (TTM)$3.8BDepreciation And Amortization Cf (TTM)$4.3BNet Change In Cash$5.1B
Latest FilingQ1 2026
Report Date2026-03-19
Market Cap$94.1B
P/E Ratio20.98
ROE15.87%

Operating

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Other non-cash income (expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Other non-cash income (expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Change in accounts payable-$982.0M-$1.3B—-$571.0M-$154.0M-$1.4B
Change in other assets———$160.0M$93.0M—
Change in other current assets-$22.5M-$22.5M-$22.5M———
Other working capital changes-$35.0M$14.0M$56.0M$43.0M—-$1.0M
Change in receivables$774.0M—$1.1B$336.0M$979.0M—
Benefit from Receivables$121.0M$132.0M$139.0M$219.0M$250.0M$225.0M
Depreciation and amortization$1.1B$1.1B$1.1B$1.1B$1.1B$1.1B
Other Non-Cash Income (Expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Other Non-cash Income (Expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Other Non-cash Income (Expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Net cash from operating activities$1.3B$2.0B$2.5B$1.7B$2.0B$2.0B
Net income$741.0M$909.0M$1.6B$824.0M$956.0M$1.1B
Other non-cash income (expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Business Optimization Costs Net Of Payments$56.0M——$110.0M-$240.0M—
Increase (Decrease) in Accounts Payable and Other Operating Liabilities-$611.3M-$611.3M-$611.3M———
Increase (Decrease) in Other Current Assets-$22.5M-$22.5M-$22.5M———
Increase (Decrease) in Other Operating Assets———$160.0M$93.0M—
Pension and postretirement healthcare assets and liabilities, net-$138.3M-$138.3M-$138.3M———
Other Noncash Income (Expense)-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Accounts Receivable, Credit Loss Expense (Reversal)$121.0M$132.0M$139.0M$219.0M$250.0M$225.0M
Separation And Other Costs, Net Of Payments$0.0$4.0M—$27.0M$119.0M—
Other Non-cash Income and Expense-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Other Non-Cash Adjustments-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Other Non-Cash Income and Expense-$772.0M-$764.0M-$803.0M-$718.0M-$719.0M-$760.0M
Provision for credit losses$121.0M$132.0M$139.0M$219.0M$250.0M$225.0M
Stock-based compensation$36.0M$32.0M$38.0M$56.0M$43.0M$37.0M

Investing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Capital expenditures$818.0M$997.0M$1.5B$623.0M$757.0M$955.0M
Proceeds from disposition of marketable securities and other investments$39.0M$25.0M—$30.0M$147.0M$77.0M
Proceeds from disposals of property, plant and equipment$21.0M$8.0M$73.0M$8.0M$41.0M$24.0M
Proceeds From Sale Of Short Term Investments$27.5M$27.5M$27.5M———
Net cash from investing activities-$804.0M-$1.1B-$1.4B-$619.0M-$861.0M-$955.0M
Proceeds from maturities/sales of investments$39.0M$25.0M$33.0M$30.0M$147.0M$77.0M
Proceeds from sale of property, plant and equipment$21.0M$8.0M$73.0M$8.0M$41.0M$24.0M
Purchases of investments$46.0M$90.0M$65.0M$34.0M$292.0M$101.0M

Financing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Proceeds from issuance of debt$0.0$0.0—$997.0M—$3.7B
Repayments of debt$13.0M$42.0M$68.0M$625.0M$22.0M$67.0M
Dividends paid$337.0M$332.0M$331.0M$345.0M$342.0M$341.0M
Proceeds from issuances of debt$0.0$0.0—$997.0M—$3.7B
Proceeds from issuance of shares$36.0M$32.0M$52.0M$18.0M$32.0M$724.0M
Other, net-$6.0M-$24.0M$0.0-$5.0M-$4.0M-$40.0M
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security$13.0M$42.0M$68.0M$625.0M$22.0M$67.0M
Payment of Deferred Purchase Consideration-$6.0M-$24.0M$0.0-$5.0M-$4.0M-$40.0M
Noncontrolling interest transactions and other-$6.0M-$24.0M$0.0-$5.0M-$4.0M-$40.0M
Net cash from financing activities-$1.3B-$863.0M-$847.0M-$460.0M-$632.0M$4.0B
Other financing activities-$6.0M-$24.0M$0.0-$5.0M-$4.0M-$40.0M
Noncontrolling Interests Activity and Other-$6.0M-$24.0M$0.0-$5.0M-$4.0M-$40.0M
Proceeds from issuance of common stock$36.0M$32.0M$52.0M$18.0M$32.0M$724.0M
Repurchases of common stock$1.0B$497.0M$500.0M$500.0M$296.0M—

Free Cash Flow

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Free cash flow$500.0M$1.0B$1.0B$1.1B$1.2B$1.0B

Other

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Effect of exchange rate changes on cash-$88.0M$11.0M$127.0M$27.0M-$54.0M$112.0M
Net increase (decrease) in cash-$914.0M——$664.0M$404.0M$5.1B