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FedEx FDX Federal Express segment — D&A

Other segment segments

FedEx Freight
Segment
$115M+42.0%

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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:DepreciationDepletionAndAmortization.

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
Salaries and employee benefits27,46525,09124,606
Purchased transportation21,81219,97419,330
Rentals and landing fees4,1533,9393,863
Depreciation and amortization3,7993,7223,754
Fuel3,5653,3164,137
Maintenance and repairs2,9062,7992,848
Asset impairment charges2321157
Separation and other costs92

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is FedEx's federal express segment — D&A?
FedEx (FDX) reported federal express segment — D&A of $943M in Q1 2026.
How has FedEx's federal express segment — D&A changed year-over-year?
FedEx's federal express segment — D&A decreased by 0.0% year-over-year, from $943M to $943M.
What is the long-term trend for FedEx's federal express segment — D&A?
Over 3 years (2023 to 2026), FedEx's federal express segment — D&A has grown at a 1.3% compound annual growth rate (CAGR), from $3.66B to $3.8B.
What does federal express segment — D&A mean?
This represents the non-cash allocation of the cost of tangible and intangible assets used by the express segment over their useful lives. It reflects the capital intensity of maintaining a large fleet of aircraft and sorting facilities.

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