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FedEx FDX Net debt

Discontinued — last reported Q4 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
3×-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

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+41.7%
Enterprise value$102.2B+23.9%
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

Calculated from FedEx’s reported figures.

$42.8Btotal debt−$13.3Bcash and equivalents=$29.47B

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

Filed
Jul 20, 2026, 4:14 PM EDT
Fiscal year
FY2026
Accession
0001048911-26-000105

FAQ

What is FedEx's net debt?
FedEx (FDX) reported net debt of $29.47B in Q1 2026.
How has FedEx's net debt changed year-over-year?
FedEx's net debt decreased by 5.4% year-over-year, from $31.17B to $29.47B.
What is the long-term trend for FedEx's net debt?
Over 5 years (2021 to 2026), FedEx's net debt has grown at a -0.3% compound annual growth rate (CAGR), from $29.9B to $29.47B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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