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FedEx FDX Separation and other costs

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Segments

By segment

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FedEx Freight
Segment$205M
Federal Express segment$32M

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 fdx:SeparationAndOtherCosts.

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 itemYears ended May 31, 2026Years ended May 31, 2025Years ended May 31, 2024
Depreciation and amortization4,3694,2644,287
Fuel4,0523,7754,710
Maintenance and repairs3,3303,2453,291
Separation and other costs77138
Business optimization and realignment costs366756582
Goodwill and other asset impairment charges2321157
Other13,99912,96312,654
TOTAL OPERATING EXPENSES89,25782,70982,134

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is FedEx's separation and other costs?
FedEx (FDX) reported separation and other costs of $311M in Q1 2026.
How has FedEx's separation and other costs changed year-over-year?
FedEx's separation and other costs increased by 842.4% year-over-year, from $33M to $311M.
What does separation and other costs mean?
This metric represents non-recurring expenses associated with workforce reductions, organizational restructuring, or severance programs. It captures the financial impact of streamlining operations and adjusting headcount to align with strategic business goals. Investors monitor this to assess the magnitude of one-time costs incurred during corporate transformation efforts.

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