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FedEx FDX FedEx Freight
Segment — Operating Income (Loss)

Other segment segments

Federal Express segment
$1.65B+4.1%

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Other financials

Income statement

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Revenue$25.0B+12.5%
Operating income$1.6B-13.5%
Net income$1.6B-3.1%
EPS (diluted)$6.64-2.6%

Balance sheet

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Cash & equivalents$13.3B+142%
Total debt$42.8B+16.7%
Total equity$31.6B+12.7%
Total assets$98.9B+12.9%

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$72.73B+42.6%
Enterprise value$102.2B+24.4%
P/E16.4×+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 / equity1.4×0.0×
Current ratio1.5×+0.3×

Where this comes from

Reported directly by FedEx in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: FedEx’s 10-K, filed July 20, 2026.

Filed
Jul 20, 2026, 4:14 PM EDT
Fiscal year
FY2026
Accession
0001048911-26-000105
Line item202620252024
Depreciation and amortization450416404
Fuel485457571
Maintenance and repairs314332330
Separation and other costs492——
Intercompany allocations (charges)561573543
Other778666680
Total operating expenses8,1797,4037,608
Operating income$616$1,489$1,821

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is FedEx's fedex freight
segment — operating income (loss)?
FedEx (FDX) reported fedex freight
segment — operating income (loss) of $158M in Q1 2026.
How has FedEx's fedex freight
segment — operating income (loss) changed year-over-year?
FedEx's fedex freight
segment — operating income (loss) decreased by 66.9% year-over-year, from $477M to $158M.
What is the long-term trend for FedEx's fedex freight
segment — operating income (loss)?
Over 4 years (2022 to 2026), FedEx's fedex freight
segment — operating income (loss) has grown at a -22.0% compound annual growth rate (CAGR), from $1.66B to $616M.
What does fedex freight
segment — operating income (loss) mean?
This metric measures the profitability of the freight segment by subtracting operating expenses from segment revenue. It reflects the core earnings power of the less-than-truckload business before interest, taxes, and corporate allocations. It is a primary indicator of the segment's ability to generate value from its specific asset base.

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segment — operating income (loss).

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