FedEx Quarterly Cash Flow Statement
NYSE: FDXConsumer DiscretionaryAir Freight/Delivery ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
FedEx free cash flow
In the quarter ended May 31, 2026, FedEx generated $3.27 billion of operating cash flow and spent $1.47 billion on capital expenditures. That left free cash flow of $1.79 billion, a free-cash-flow margin of 7.2% of revenue. Free cash flow was up 71.2% from the prior year's $1.05 billion.
FedEx returned $346.0 million to shareholders through dividends, equal to 19% of free cash flow. Free cash flow covered dividend payments 5.2 times.
Summary generated from market data by MetaCap's automated system. Methodology
FedEx cash flow statement (quarterly)
| Quarter (USD) | Q4 20262026-05-31 | Q3 20262026-02-28 | Q2 20262025-11-30 | Q1 20262025-08-31 | Q4 20252025-05-31 | Q3 20252025-02-28 | Q2 20252024-11-30 | Q1 20252024-08-31 | Q4 20242024-05-31 | Q3 20242024-02-29 | Q2 20242023-11-30 | Q1 20242023-08-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 1.60B | 1.06B | 956.00M | 824.00M | 1.65B | 909.00M | 741.00M | 794.00M | 1.47B | 879.00M | 900.00M | 1.08B |
| Net Income growth (YoY) | -3.09% | +16.17% | +29.01% | +3.78% | +11.80% | +3.41% | -17.67% | -26.35% | -4.16% | +14.01% | +14.21% | +23.20% |
| Depreciation & Amortization | 1.10B | 1.11B | 1.07B | 1.09B | 1.06B | 1.07B | 1.06B | 1.08B | 1.10B | 1.07B | 1.04B | 1.07B |
| Stock-Based Compensation | 41.00M | 37.00M | 43.00M | 56.00M | 38.00M | 32.00M | 36.00M | 48.00M | 33.00M | 34.00M | 40.00M | 56.00M |
| Change in Working Capital | -1.16B | -1.18B | -1.23B | -1.07B | -1.09B | -870.00M | -1.64B | -1.63B | 74.00M | -1.17B | -1.04B | -727.00M |
| Operating Cash Flow | 3.27B | 1.99B | 1.95B | 1.72B | 2.52B | 2.01B | 1.32B | 1.19B | 2.70B | 1.61B | 1.77B | 2.23B |
| Capital Expenditures | -1.47B | -955.00M | -757.00M | -623.00M | -1.47B | -997.00M | -818.00M | -767.00M | -1.20B | -1.38B | -1.30B | -1.29B |
| Investing Cash Flow | -1.48B | -955.00M | -861.00M | -619.00M | -1.43B | -1.05B | -804.00M | -802.00M | -1.23B | -1.36B | -1.33B | -1.28B |
| Dividends Paid | -346.00M | -341.00M | -342.00M | -345.00M | -331.00M | -332.00M | -337.00M | -339.00M | -310.00M | -314.00M | -317.00M | -318.00M |
| Share Repurchases | 0 | 0 | -296.00M | -500.00M | -500.00M | -497.00M | -1.02B | -1.00B | -500.00M | -1.00B | -500.00M | -500.00M |
| Debt Issued | 600.00M | 3.69B | 0 | 997.00M | 0 | 0 | 0 | 0 | — | — | — | — |
| Debt Repaid | -1.33B | -67.00M | -22.00M | -625.00M | -68.00M | -42.00M | -13.00M | -34.00M | -4.00M | -49.00M | -28.00M | -66.00M |
| Financing Cash Flow | -127.00M | 3.97B | -632.00M | -460.00M | -847.00M | -863.00M | -1.34B | -969.00M | -592.00M | -1.32B | -791.00M | -727.00M |
| Net Change in Cash | 1.62B | 5.12B | 404.00M | 664.00M | 367.00M | 106.00M | -914.00M | -558.00M | 857.00M | -1.08B | -326.00M | 199.00M |
| Free Cash Flow | 1.79B | 1.04B | 1.19B | 1.09B | 1.05B | 1.01B | 500.00M | 420.00M | 1.50B | 231.00M | 469.00M | 940.00M |
This table shows 12 quarterly periods of FedEx's cash flow statement, from Q4 2026 back to Q1 2024, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow FDX's reporting calendar. What is a cash flow statement?