CapEx
FedEx CapEx increased by 26.2% to $955.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 4.2%, from $997.00M to $955.00M. Over 3 years (FY 2022 to FY 2025), CapEx shows a downward trend with a -15.7% CAGR.
Analysis
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
cf_capital_expendituresHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.57B | $1.57B | $1.24B | $2.38B | $1.28B | $1.86B | $1.28B | $1.75B | $1.29B | $1.31B | $1.38B | $1.20B | $767.00M | $818.00M | $997.00M | $1.47B | $623.00M | $757.00M | $955.00M |
| QoQ Change | — | +0.2% | -21.4% | +92.9% | -46.1% | +44.7% | -31.2% | +37.2% | -26.5% | +1.2% | +5.7% | -12.8% | -36.2% | +6.6% | +21.9% | +47.7% | -57.7% | +21.5% | +26.2% |
| YoY Change | — | — | — | — | -18.2% | +18.1% | +3.4% | -26.4% | +0.5% | -29.8% | +7.9% | -31.5% | -40.5% | -37.3% | -27.7% | +22.5% | -18.8% | -7.5% | -4.2% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Fedex Freight | — | $35.00M | $195.00M | $129.00M | $78.00M | $32.00M | $100.00M | $152.00M |
| Fedex Express | $822.75M | — | — | — | — | — | — | — |
| Fedex Ground | $254.50M | — | — | — | — | — | — | — |
| Total | $1.20B | $767.00M | $818.00M | $997.00M | $1.47B | $623.00M | $757.00M | $955.00M |
Fedex Express, Fedex Ground, Fedex Services are derived from annual filings.
Fedex Express, Fedex Ground, Fedex Services were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
CapEx at Other Companies
Frequently Asked Questions
- What is FedEx's capex?
- FedEx (FDX) reported capex of $955.00M in Q4 2025.
- How has FedEx's capex changed year-over-year?
- FedEx's capex decreased by 4.2% year-over-year, from $997.00M to $955.00M.
- What is the long-term trend for FedEx's capex?
- Over 3 years (2022 to 2025), FedEx's capex has grown at a -15.7% compound annual growth rate (CAGR), from $6.76B to $4.06B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.