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FedEx Freight (FDXF) stock

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NYSE: FDXF NYSE Cargo Ground Transportation

FedEx Freight is a US-listed company in the cargo ground transportation industry. Its financial year ends in May.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$69

Valuation models combined (2)

Base case. Range ~$40–$83. Weighted average of 2 models (forward price-to-earnings vs peers, forward price-to-sales vs peers).

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

FedEx Freight valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds1,108 adding, 0 cuttingOf 74 active managers that changed their stake, 74 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Current signal Long-term debt rising: Long-term debt rose 6415% year over year, to 58% of total assets.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in FedEx Freight's latest figures clears our strength thresholds.

Things to watch

  • Short interest rising. Shares sold short rose 75% in a month to 5.3% of tradable shares.

Latest results: FY2027 Q1

Filed October 29, 2026
Earnings per share
$1.49 against an average estimate of $1.39: beat by 7.2%
Revenue
$2.44bn, up 8.1% on a year earlier
Share reaction
+16.3% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
revenue $5.58bn to $5.65bn (Transition Period); operating income $465m to $485m (Transition Period)
Next report
October 29, 2026; average EPS estimate $1.56

FedEx Freight's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.6%
  • 1 week+20.5%
  • 1 month+16.8%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
October 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Guidance
  4. Announcement
  5. Results
  6. Partnership
  7. Leadership
  8. Announcement
  9. Results
  10. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

FedEx Freight valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value FedEx Freight as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$17 ~$5.7–$24 Left out: out of range vs price (0.13x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$83 ~$76–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$40 ~$47–$100 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$69 ~$40–$83 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare FedEx Freight with Cargo Ground Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2026
Share price$160.37
Market value$24.0bn
+ Net debt (− = net cash)$0
Enterprise value$24.0bn
Multiples
Price / sales 2.7x
Price / earnings 36.6x
Price / free cash flow —
EV / EBITDA 22.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.46 — $9.1bn —
Next $5.15 +15% $9.6bn +5%

Next year's EPS estimate has moved +0.1% in 90 days, across 12 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.9% on 90 days ago. In the last 30 days, 3 analysts raised FedEx Freight's forecast and 0 cut it.

Consensus EPS forecast FedEx Freight, last 90 days
$4.00 $4.50 $5.00 $5.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.25 Current fiscal year, 60 days ago: $4.30 Current fiscal year, 30 days ago: $4.31 Current fiscal year, 7 days ago: $4.46 Current fiscal year, Now: $4.46 $4.46 Next fiscal year, 90 days ago: $5.08 Next fiscal year, 60 days ago: $5.05 Next fiscal year, 30 days ago: $5.06 Next fiscal year, 7 days ago: $5.08 Next fiscal year, Now: $5.08 $5.08

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.25$5.08
60 days ago $4.30$5.05
30 days ago $4.31$5.06
7 days ago $4.46$5.08
Now $4.46$5.08

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.39 $1.49 +7.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Revenue Transition Period $5.58bn to $5.65bn Raised
    “Revenue of $5.58 billion to $5.65 billion, which is above the original guidance of a 4% to 6% revenue growth rate ;” source
  • Revenue three months ending December 31, 2026 $2.3bn to $2.37bn New
    “Revenue of $2.30 billion to $2.37 billion, compared to $2.07 billion for the three months ended December 31, 2025;” source
  • Diluted EPS before MTM retirement plan accounting adjustments Transition Period $1.69 to $1.79 Non-GAAP Lowered
    “Diluted EPS of $1.69 to $1.79 before the MTM retirement plan accounting adjustments, and $2.80 to $2.90 after also excluding costs related to the spin-off, compared to the prior forecasts of $1.75 to $1.95 and $2.40 to $2.60, respectively; and” source
  • Diluted EPS after also excluding spin-off costs Transition Period $2.80 to $2.90 Non-GAAP Raised
    “Diluted EPS of $1.69 to $1.79 before the MTM retirement plan accounting adjustments, and $2.80 to $2.90 after also excluding costs related to the spin-off, compared to the prior forecasts of $1.75 to $1.95 and $2.40 to $2.60, respectively; and” source
  • Diluted EPS before MTM retirement plan accounting adjustments three months ending December 31, 2026 $0.15 to $0.25 Non-GAAP New
    “Diluted EPS of $0.15 to $0.25 before the MTM retirement plan accounting adjustments, and $0.65 to $0.75 after also excluding costs related to the spin-off, compared to $0.39 and $1.27, respectively, for the three months ended December 31, 2025; and” source
  • Diluted EPS after also excluding spin-off costs three months ending December 31, 2026 $0.65 to $0.75 Non-GAAP New
    “Diluted EPS of $0.15 to $0.25 before the MTM retirement plan accounting adjustments, and $0.65 to $0.75 after also excluding costs related to the spin-off, compared to $0.39 and $1.27, respectively, for the three months ended December 31, 2025; and” source
Show 15 more items
  • Operating margin Transition Period 8.3% to 8.6% GAAP Lowered
    “Operating margin of 8.3 % to 8.6% , compared to the prior forecast of 9.0% to 9.5%;” source
  • Adjusted operating margin Transition Period 12.5% to 12.7% Non-GAAP Raised
    “Adjusted operating margin of 12.5% to 12.7%, compared to the prior forecast of 11.5% to 12.0%;” source
  • Operating margin three months ending December 31, 2026 3.5% to 4.2% GAAP New
    “Operating margin of 3.5% to 4.2%, compared to (0.7%) for the three months ended December 31, 2025;” source
  • Adjusted operating margin three months ending December 31, 2026 8% to 8.6% Non-GAAP New
    “Adjusted operating margin of 8.0% to 8.6%, compared to 7.8% for the three months ended December 31, 2025;” source
  • Operating income Transition Period $465m to $485m GAAP Lowered
    “Operating income of $465 million to $485 million, compared to the prior forecast of $475 million to $515 million;” source
  • Adjusted operating income Transition Period $695m to $715m Non-GAAP Raised
    “Adjusted operating income of $695 million to $715 million, compared to the prior forecast of $605 million to $645 million;” source
  • Interest expense Transition Period about $130m Lowered
    “Interest expense of approximately $130 million, compared to the prior forecast of approximately $135 million;” source
  • ETR Transition Period about 27% Non-GAAP Raised
    “An ETR of approximately 27% before the MTM retirement plan accounting adjustments, compared to the prior forecast of 26%;” source
  • Outstanding diluted share count Transition Period about 150m Raised
    “Outstanding diluted share count of 149.9 million, compared to the prior forecast of 149.5 million.” source
  • Capital expenditures Transition Period (June 1 through December 31, 2026) about $365m
    “Capital expenditures for the four months ended September 30, 2026 were $151 million, and the company expects aggregate capital expenditures for the Transition Period (June 1 through December 31, 2026) to total approximately $365 million.” source
  • Operating income (loss) three months ending December 31, 2026 $80m to $100m GAAP New
    “Operating income (loss) of $80 million to $100 million, compared to ($14) million for the three months ended December 31, 2025;” source
  • Adjusted operating income three months ending December 31, 2026 $185m to $205m Non-GAAP New
    “Adjusted operating income of $185 million to $205 million, compared to $162 million for the three months ended December 31, 2025;” source
  • Interest expense three months ending December 31, 2026 about $55m New
    “Interest expense of approximately $55 million;” source
  • ETR three months ending December 31, 2026 about 27% Non-GAAP New
    “An ETR of approximately 27% before the MTM retirement plan accounting adjustments, compared to 25.2% for the three months ended December 31, 2025;” source
  • Outstanding diluted share count three months ending December 31, 2026 about 150m New
    “Outstanding diluted share count of 150.0 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

14 analysts, Oct 2026
Buy964%
Hold536%
Sell00%

Monthly trend

  1. Oct 202636514
  2. Sep 202636514
  3. Aug 2026263112
  4. Jul 2026263112

Counts of recommendations published by analysts covering FedEx Freight, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.3%
of tradable shares
Days to cover
3.53
at average volume
Short interest, 1 month
+75%
to October 15, 2026
Held by institutions
65%
of shares
Held by insiders
20.1%
of shares
Employees
40,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
+11.1%
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 1 down
typical move ±7.2%
After a week
1 up, 1 down
typical move ±6.2%
After a month
0 up, 2 down
typical move ±7.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +16.3% −2.1% — —
August 6, 2026 +1.2% +0.5% +6.3% −9.5%
June 25, 2026 −4.1% −0.6% −6.0% −6.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar FedEx Freight took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8.8B
  2. Other income $344M · 3.9%
  3. Other operating costs $8.3B · 93.9%
  4. Operating income $540M · 6.1%
  5. Income tax $229M · 2.6%
  6. Net income $655M · 7.4%

Shares of revenue. Source: FedEx Freight's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2024 May 2024 2025 May 2025 2026 May 2026
Income
Revenue 9,424 8,892 8,795
EBITDA 2,208 1,875 1,052
Operating income 1,753 1,404 540
Net income 1,574 1,346 655
Diluted EPS $10.53 $9.00 $4.38
Growth (year on year)
Revenue — −5.6% −1.1%
EBITDA — −15.1% −43.9%
Operating income — −19.9% −61.5%
Net income — −14.5% −51.3%
Diluted EPS — −14.5% −51.3%
Margins
EBITDA margin 23.4% 21.1% 12.0%
Operating margin 18.6% 15.8% 6.1%
Net margin 16.7% 15.1% 7.4%
Free-cash-flow margin 11.5% 12.3% −2.4%
Cash flow
Cash from operations 1,541 1,531 167
Capital spending 461 437 379
Free cash flow 1,080 1,094 −212
Stock-based pay 12 10 13
Free cash flow after stock pay 1,068 1,084 −225
Balance sheet
Total debt — 73 4,527
Diluted shares 150m 150m 150m
Returned to shareholders
Dividends 0 0 48
Total returned 0 0 48

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 1 checks passed · September 30, 2026
What it owns · $7.2bn
Short-term assets $1.8bnLonger-term assets $5.4bn
What it owes, and who funded it · $1.1bn
Short-term liabilities $1.1bnShareholders' equity $-252m
  • Short-term assets cover short-term liabilities $1.8bn of assets due within a year against $1.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From FedEx Freight's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Where the revenue comes from

Fiscal year to May 31, 2026
Products and services
Line of business Revenue Share YoY
Priority $5.6B 63.2% ▼ 0.4%
Economy $2.8B 32.1% ▼ 2.2%
Other $408M 4.6% ▼ 2.2%
Geography
Region Revenue Share YoY
United States $8.6B 97.2% ▼ 1.1%
Outside the US $243M 2.8% ▼ 1.6%

From FedEx Freight's 10-K filed August 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$13.7B
Institutions reporting
1,126
Positions opened / closed
1108 / 0

Top buyers and sellers, Q2 2026: 1,108 institutions bought and 0 sold ; the biggest buyer was Blackrock, Inc (+9.1M shares) . See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.4B 9.1M 10.0% —
Dodge & Cox $1.1B 7.2M 7.9% —
Vanguard Capital Management LLC $1.1B 7.1M 7.8% —
Vanguard Portfolio Management LLC $733M 4.9M 5.3% —
Primecap Management Co $611M 4.0M 4.5% —
Invesco Ltd. $524M 3.5M 3.8% —
Franklin Resources Inc $444M 2.9M 3.2% —
Geode Capital Management, LLC $436M 2.9M 3.2% —
Viking Global Investors LP $357M 2.4M 2.6% —
Slate Path Capital LP $339M 2.2M 2.5% —
Morgan Stanley $220M 1.5M 1.6% —
Norges Bank $203M 1.3M 1.5% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not FedEx Freight's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • October 29, 2026
  • August 6, 2026
  • June 25, 2026

Recent SEC filings

Data status

When each part of this page on FedEx Freight was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

FedEx Freight in brief

What does FedEx Freight do?
FedEx Freight is a US-listed company in the cargo ground transportation industry. Its financial year ends in May.
What is FedEx Freight's stock ticker?
FedEx Freight trades under the ticker FDXF on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are FedEx Freight's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dodge & Cox and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is FedEx Freight's market cap?
On May 29, 2026, FedEx Freight's market capitalisation was about $24B, with a price-to-earnings ratio of 36.6 and net debt of $0. Market figures come from third-party market data and may be delayed.