FDXFFedEx Freight
- Employees
- 40,000
- Headquarters
- Memphis, TN
- CEO
- John Alan Smith
- Next results
- around Jun 24, 2027
The biggest changes in the 10-K filed 2026-08-05, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
15.8% → 6.1% (-9.6 pts) Big change FY to 2026-05-31 vs 2025-05-31“Operating income in 2026 was negatively affected by higher costs related to the Spin-Off — including increased salaries and employee benefits, outside service contracts and professional fees — as well as by reduced demand, partially offset by increased yield.”
Read it in the 10-K ↗
“Operating income decreased 62% in 2026 primarily due to higher costs related to the Spin-Off, including higher salaries and employee benefits expense, outside service contracts and professional fees, as well as reduced demand.”
Read it in the 10-K ↗
Cash from operations
-89.1% Big change FY to 2026-05-31 vs 2025-05-31“Cash flows from operating activities decreased $1.4 billion in 2026 primarily due to lower net income and working capital changes, driven by an increase in accounts receivable related to approximately $1.0 billion of reacquired outstanding U.S. trade receivables, partially offset by a decrease in intercompany amounts due to Parent.”
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Net income
-51.3% Big change FY to 2026-05-31 vs 2025-05-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
-1.1% FY to 2026-05-31 vs 2025-05-31“Revenue decreased 1% in 2026 primarily due to lower volume resulting from macroeconomic conditions, partially offset by higher fuel surcharges and base yield improvement.”
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“Revenue per shipment increased 4% in 2026 primarily driven by higher fuel surcharges and weight per shipment.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on FDXF in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/FDXF/export.csv") into a cell.