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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$80.6B
P/E Ratio17.99
ROE15.87%

Operating

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Other non-cash income (expense)-$772M-$764M-$803M-$718M-$719M-$760M
Other non-cash income (expense)-$772M-$764M-$803M-$718M-$719M-$760M
Change in accounts payable-$982M-$1.3B—-$571M-$154M-$1.4B
Change in other assets———$160M$93M—
Change in other current assets-$22.5M-$22.5M-$22.5M———
Other working capital changes-$35M$14M$56M$43M—-$1M
Change in receivables$774M—$1.1B$336M$979M—
Benefit from Receivables$121M$132M$139M$219M$250M$225M
Depreciation and amortization$1.1B$1.1B$1.1B$1.1B$1.1B$1.1B
Other Non-Cash Income (Expense)-$772M-$764M-$803M-$718M-$719M-$760M
Other Non-cash Income (Expense)-$772M-$764M-$803M-$718M-$719M-$760M
Other Non-cash Income (Expense)-$772M-$764M-$803M-$718M-$719M-$760M
Net cash from operating activities$1.3B$2B$2.5B$1.7B$2B$2B
Net income$741M$909M$1.6B$824M$956M$1.1B
Other non-cash income (expense)-$772M-$764M-$803M-$718M-$719M-$760M
Business Optimization Costs Net Of Payments$56M——$110M-$240M—
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———$160M$93M—
Pension and postretirement healthcare assets and liabilities, net-$138.3M-$138.3M-$138.3M———
Other Noncash Income (Expense)-$772M-$764M-$803M-$718M-$719M-$760M
Accounts Receivable, Credit Loss Expense (Reversal)$121M$132M$139M$219M$250M$225M
Separation And Other Costs, Net Of Payments$0$4M—$27M$119M—
Other Non-cash Income and Expense-$772M-$764M-$803M-$718M-$719M-$760M
Other Non-Cash Adjustments-$772M-$764M-$803M-$718M-$719M-$760M
Other Non-Cash Income and Expense-$772M-$764M-$803M-$718M-$719M-$760M
Provision for credit losses$121M$132M$139M$219M$250M$225M
Stock-based compensation$36M$32M$38M$56M$43M$37M

Investing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Capital expenditures$818M$997M$1.5B$623M$757M$955M
Proceeds from disposition of marketable securities and other investments$39M$25M—$30M$147M$77M
Proceeds from disposals of property, plant and equipment$21M$8M$73M$8M$41M$24M
Proceeds From Sale Of Short Term Investments$27.5M$27.5M$27.5M———
Net cash from investing activities-$804M-$1.1B-$1.4B-$619M-$861M-$955M
Proceeds from maturities/sales of investments$39M$25M$33M$30M$147M$77M
Proceeds from sale of property, plant and equipment$21M$8M$73M$8M$41M$24M
Purchases of investments$46M$90M$65M$34M$292M$101M

Financing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Proceeds from issuance of debt$0$0—$997M—$3.7B
Repayments of debt$13M$42M$68M$625M$22M$67M
Dividends paid$337M$332M$331M$345M$342M$341M
Proceeds from issuances of debt$0$0—$997M—$3.7B
Proceeds from issuance of shares$36M$32M$52M$18M$32M$724M
Other, net-$6M-$24M$0-$5M-$4M-$40M
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security$13M$42M$68M$625M$22M$67M
Payment of Deferred Purchase Consideration-$6M-$24M$0-$5M-$4M-$40M
Noncontrolling interest transactions and other-$6M-$24M$0-$5M-$4M-$40M
Net cash from financing activities-$1.3B-$863M-$847M-$460M-$632M$4B
Other financing activities-$6M-$24M$0-$5M-$4M-$40M
Noncontrolling Interests Activity and Other-$6M-$24M$0-$5M-$4M-$40M
Proceeds from issuance of common stock$36M$32M$52M$18M$32M$724M
Repurchases of common stock$1B$497M$500M$500M$296M—

Free Cash Flow

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Free cash flow$500M$1B$1B$1.1B$1.2B$1B

Other

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Effect of exchange rate changes on cash-$88M$11M$127M$27M-$54M$112M
Net increase (decrease) in cash-$914M——$664M$404M$5.1B