Direct Answer
FedEx Freight reported revenue of $8.8 billion for the fiscal year ended May 31, 2026, with an operating margin of 6.1% and net income of $655 million, according to its SEC filings. Revenue fell 1.1% from the prior year.
What Are FedEx Freight's Key Financial Figures?
| Fiscal year | FY2026 ended May 31, 2026 | FY2025 ended May 31, 2025 | FY2024 ended May 31, 2024 |
|---|---|---|---|
| Revenue | $8.8 billion | $8.9 billion | $9.4 billion |
| Operating income | $540 million | $1.4 billion | $1.8 billion |
| Operating margin | 6.1% | 15.8% | 18.6% |
| Net income | $655 million | $1.3 billion | $1.6 billion |
| Net margin | 7.4% | 15.1% | 16.7% |
| Operating cash flow | $167 million | $1.5 billion | $1.5 billion |
| Capital expenditures | $379 million | $437 million | $461 million |
| Free cash flow | -$212 million | $1.1 billion | $1.1 billion |
Operating margin narrowed by 9.6 percentage points between fiscal 2025 and 2026, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was -$212 million against net income of $655 million; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.
What Does FedEx Freight's Balance Sheet Show?
| Cash and cash equivalents | $251 million |
|---|---|
| Long-term debt | $4.3 billion |
| Total assets | $6.9 billion |
| Total liabilities | Not reported |
| Shareholders' equity | -$497 million |
| Current ratio | 1.5x |
Balance sheet values are as of the end of fiscal 2026. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value FedEx Freight reported in its own SEC filings, read from the SEC's XBRL data (accession 0001628280-26-053359 for fiscal year 2026). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was FedEx Freight's revenue in fiscal 2026?
FedEx Freight reported revenue of $8.8 billion for the fiscal year ended May 31, 2026, according to its SEC filings.
What is FedEx Freight's operating margin?
FedEx Freight's operating margin was 6.1% in fiscal 2026: operating income of $540 million on revenue of $8.8 billion.
How much free cash flow did FedEx Freight generate?
Operating cash flow of $167 million less capital expenditures of $379 million gives free cash flow of -$212 million for fiscal 2026.