What is FedEx's change in AP?

FedEx (FDX) reported change in AP of -$1.42B in Q4 2025.

How has FedEx's change in AP changed year-over-year?

FedEx's change in AP decreased by 9.2% year-over-year, from -$1.3B to -$1.42B.

What does change in AP mean?

Increase or decrease in amounts owed to suppliers — a key working capital component affecting operating cash flow.

FedEx FDX Change in AP

Change in AP at other companies

Pitney BowesPBI

-$102.5M+27.5%

Old Dominion Freight LineODFL

-$7.28M-39.0%

Forward AirFWRD

$30.63M-54.7%

AmazonAMZN

-$8.74B+3.4%

United Parcel Service, Inc.UPS

-$495M+45.4%

XPO

XPOXPO

$16M+329%

Other financials

Income statement

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Revenue$25.0B+12.5%

Operating income$1.6B-13.5%

Net income$1.6B-3.0%

EPS (diluted)$6.60-3.2%

Balance sheet

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Cash & equivalents$13.3B+142%

Total debt$23.3B-38.9%

Total equity$31.6B+12.7%

Total assets$107.19B+22.3%

Cash flow

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Operating cash flow$3.3B+29.6%

CapEx$1.5B+0.1%

Free cash flow$1.8B+71.2%

Valuation

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Market cap$74.71B+41.0%

Enterprise value$84.7B-1.0%

P/E16.9×+3.9×

P/S0.8×+0.2×

Profitability

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Gross margin76%—

Operating margin5.8%-0.2pp

Net margin4.7%0.0pp

FCF margin5.4%+2.0pp

Returns & leverage

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Return on equity14.8%+0.1pp

Debt / equity0.7×-0.6×

Current ratio1.5×+0.3×

Where this comes from

Reported directly by FedEx in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.

The official record: FedEx’s 10-Q, filed March 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FedEx's change in AP?: FedEx (FDX) reported change in AP of -$1.42B in Q4 2025.
How has FedEx's change in AP changed year-over-year?: FedEx's change in AP decreased by 9.2% year-over-year, from -$1.3B to -$1.42B.
What does change in AP mean?: Increase or decrease in amounts owed to suppliers — a key working capital component affecting operating cash flow.