FedEx Freight Holding Company, Inc. (FDXF) Balance Sheet

NYSE: FDXFAssets, liabilities, debt and equity over 3 years.

FDXF balance sheet, FY2026

May 31, 2026 · U.S. dollars

$6.88B assets = $7.38B liabilities + −$497.0M equity

What it owns$6.88BCash & ST investments: $251.0M (3.6%)Receivables: $1.17B (17.0%)Receivables$1.17B · 17%Other current: $83.0M (1.2%)PP&E: $4.75B (69.0%)PP&E$4.75B · 69%Goodwill & intangibles: $602.0M (8.7%)$602.0MOther non-current: $29.0M (0.4%)=How it is financed$7.38BCurrent liabilities: $993.0M (13.5%)Current liabilities$993.0M · 13%Long-term debt: $4.48B (60.8%)Long-term debt$4.48B · 61%Other LT liabilities: $1.90B (25.8%)Other LT liabilities$1.90B · 26%

Liabilities exceed assets: shareholders’ equity is negative (−$497.0M).

Both columns are drawn to the same scale: what FDXF owns equals what it owes plus shareholders’ equity. Hover a block for its value.

FDXF financial health

Current ratio1.52
Comfortable · current assets cover current liabilities 1.52×
Equity / assets−7.2%
Thin equity · of assets funded by shareholders
Cash / debt3.9%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles8.7%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

FDXF balance sheet trends, FY2024–FY2026

MetricTrendThenLatestChange
Total assets$5.05BFY2024$6.88BFY2026+16.8%/yr
Total liabilities$2.92BFY2024$7.38BFY2026+58.9%/yr
Shareholders’ equity$2.12BFY2024−$497.0MFY2026—
Cash & short-term investments$106.0MFY2024$251.0MFY2026+53.9%/yr
Total debt$1.45BFY2024$6.37BFY2026+109.4%/yr
Net cash (debt)−$1.34BFY2024−$6.11BFY2026−$4.8B
Working capital−$744.0MFY2024$513.0MFY2026+$1.3B
Book value per share$16.92FY2024−$3.32FY2026—
Current ratio0.29FY20241.52FY2026+1.23
Debt / equity0.68FY20240.38FY2025−0.30
Shares outstanding125.5MFY2024149.5MFY2026+9.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

FDXF assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

FDXF liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

FDXF debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

FDXF balance sheet

FY2026FY2025FY2024
Assets
Cash & short-term investments$251.0M$109.0M$106.0M
Cash & equivalents$251.0M$109.0M$106.0M
Receivables$1.17B$1.17B$139.0M
Inventory$0$21.0M$25.0M
Other current assets$83.0M$43.0M$35.0M
Total current assets$1.51B$1.34B$305.0M
Property, plant & equipment (net)$4.75B$4.22B$4.13B
Goodwill & intangible assets$602.0M$602.0M$602.0M
Long-term investments$0$0$0
Other non-current assets$29.0M$38.0M$7.0M
Total assets$6.88B$6.20B$5.05B
Liabilities
Accounts payable$106.0M$150.0M$141.0M
Short-term debt$215.0M$181.0M$167.0M
Total current liabilities$993.0M$766.0M$1.05B
Long-term debt$4.48B$66.0M$0
Lease obligations$1.84B$1.44B$1.45B
Other long-term liabilities$1.90B$1.64B$1.88B
Total liabilities$7.38B$2.47B$2.92B
Shareholders' equity
Common stock & paid-in capital$15.0M——
Retained earnings (deficit)−$509.0M$3.73B$2.12B
Accumulated other comprehensive income−$3.0M——
Total shareholders' equity−$497.0M$3.73B$2.12B
Key figures
Total debt$6.37B$1.44B$1.45B
Net cash (debt)−$6.11B−$1.33B−$1.34B
Working capital$513.0M$579.0M−$744.0M
Tangible book value−$1.10B$3.13B$1.52B
Book value per share−$3.32$30.72$16.92
Shares outstanding149.5M121.5M125.5M
Current ratio1.521.760.29
Quick ratio1.431.670.23
Debt / equity—0.380.68
Equity / assets−7.2%60.2%42.1%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed August 5, 2026); data from EODHD.

FDXF financial position

At the end of fiscal 2026 (May 31, 2026), FedEx Freight had total assets of $6.9 billion (up 11.0% from a year earlier), total liabilities of $7.4 billion and shareholders' equity of -$497.0 million. It held $251.0 million in cash and short-term investments against $6.4 billion of debt, net debt of $6.1 billion. Its current ratio was 1.52.

Related: FDXF income statement, FDXF cash flow statement, FDXF key metrics. See the FDXF stock overview for the latest quote and news.

FDXF balance sheet FAQ

What are FedEx Freight's total assets?

FedEx Freight reported total assets of $6.9 billion at the end of fiscal 2026 (May 31, 2026), compared with $6.2 billion a year earlier.

How much debt does FedEx Freight have?

FedEx Freight had $6.4 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does FedEx Freight have?

FedEx Freight held $251.0 million in cash and short-term investments at the end of fiscal 2026; with $6.4 billion of debt that is net debt of $6.1 billion.

What is FedEx Freight's book value?

FedEx Freight's shareholders' equity (book value) was -$497.0 million at the end of fiscal 2026, or −$3.32 per share.

What is FedEx Freight's current ratio?

FedEx Freight had current assets of $1.5 billion and current liabilities of $993.0 million, a current ratio of 1.52 (it can cover its short-term obligations).

How much goodwill does FedEx Freight have?

FedEx Freight carried $602.0 million of goodwill and intangible assets, 8.7% of total assets, at the end of fiscal 2026.

Integrated Freight & Logistics: balance sheet