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FedEx Freight key statistics and ratios

In fiscal 2026, FedEx Freight had return on equity of 69.1%, an operating margin of 6.1% and a current ratio of 1.52. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2024May 20242025May 20252026May 2026
Operating margin18.6%15.8%6.1%
Net margin16.7%15.1%7.4%
Free-cash-flow margin11.5%12.3%−2.4%
Return on equity74.1%59.6%69.1%
Return on assets—26.8%11.0%
Asset turnover—1.771.48
Current ratio—0.371.52
Debt to equity—3.1%—
Interest cover (operating income ÷ interest)——9.5x
Effective tax rate24.3%25.3%25.9%
Capital spending as % of revenue4.9%4.9%4.3%
Free cash flow ÷ net income68.6%81.3%−32.4%
Dividends ÷ net income0.0%0.0%7.3%
Dividends and buybacks ÷ free cash flow0.0%0.0%—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

More: Cargo Ground Transportation stocks compared, Industrials sector, rankings of US companies

Figures from FedEx Freight's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to FedEx Freight.