FedEx Corporation (FDX) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|
| Cash from Operations | 3.27B | 1.99B | 1.95B | 1.72B | 2.52B | 2.01B | 1.32B | 1.19B | 2.7B | 1.61B | 1.77B | 2.23B | 3.41B | 2.28B | 1.52B | 1.61B | 3.5B | 2.25B | 2B | 2.08B |
| Operating CF Margin % | 13.06% | 8.3% | 8.31% | 7.71% | 11.34% | 9.08% | 6% | 5.5% | 12.2% | 7.41% | 8% | 10.29% | 15.57% | 10.27% | 6.65% | 6.91% | 14.36% | 9.51% | 8.54% | 9.5% |
| Operating CF Growth % | 29.61% | -0.94% | 48.03% | 44.57% | -6.63% | 24.97% | -25.7% | -46.77% | -20.97% | -29.26% | 16.86% | 38.77% | -2.51% | 1.25% | -24.02% | -22.89% | 27.67% | 3.98% | -22.53% | -21.39% |
| Net Income | 1.6B | 1.06B | 956M | 824M | 1.65B | 909M | 741M | 794M | 1.47B | 879M | 900M | 1.08B | 1.54B | 771M | 788M | 875M | 558M | 1.11B | 1.04B | 1.11B |
| Depreciation & Amortization | 1.1B | 1.11B | 1.07B | 1.09B | 1.06B | 1.07B | 1.06B | 1.08B | 1.1B | 1.07B | 1.04B | 1.07B | 1.07B | 1.03B | 1.05B | 1.02B | 1.02B | 986M | 995M | 971M |
| Stock-Based Compensation | 0 | 37M | 43M | 56M | 38M | 32M | 36M | 48M | 33M | 34M | 40M | 56M | 40M | 34M | 40M | 68M | 39M | 39M | 43M | 69M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -323M | 107M | 113M | 103M | -40M | 0 | 0 | 0 | 0 | 0 | 354M | 117M |
| Other Non-Cash Items | 623M | 969M | 1.07B | 854M | 377M | 885M | 1.09B | 877M | 873M | 692M | 744M | 655M | 717M | 1.01B | 969M | 1B | 1.75B | 974M | 848M | 920M |
| Working Capital Changes | -53M | -1.18B | -1.18B | -1.11B | -601M | -880M | -1.61B | -1.61B | -461M | -1.17B | -1.06B | -733M | 84M | -567M | -1.32B | -1.36B | 135M | -863M | -1.29B | -1.1B |
| Change in Receivables | 0 | 225M | -979M | -336M | -1.09B | 387M | -774M | -305M | -160M | 577M | -561M | -126M | 1.03B | 885M | -512M | 259M | -244M | 453M | -1.25B | 726M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -577M | 0 | -131M | -624M | 0 | 0 | 0 | 0 | 0 | 0 | -171M |
| Change in Payables | 0 | -1.42B | -154M | -571M | 938M | -1.3B | -982M | -1.1B | 158M | -1.74B | -505M | -470M | 203M | -1.54B | -521M | -1.47B | 1.03B | -1.31B | 34M | -1.62B |
| Cash from Investing | -1.48B | -955M | -861M | -619M | -1.43B | -1.05B | -804M | -802M | -1.23B | -1.36B | -1.33B | -1.28B | -1.74B | -1.23B | -1.89B | -1.31B | -2.36B | -1.34B | -1.56B | -1.55B |
| Capital Expenditures | -1.47B | -955M | -757M | -623M | -1.47B | -997M | -818M | -767M | -1.2B | -1.38B | -1.3B | -1.29B | -1.75B | -1.28B | -1.86B | -1.28B | -2.38B | -1.24B | -1.57B | -1.57B |
| CapEx % of Revenue | 5.89% | 3.98% | 3.23% | 2.8% | 6.63% | 4.5% | 3.72% | 3.55% | 5.44% | 6.34% | 5.89% | 5.95% | 8% | 5.76% | 8.14% | 5.52% | 9.77% | 5.23% | 6.72% | 7.16% |
| Acquisitions | 24M | 24M | 41M | 8M | 73M | 8M | 21M | 13M | 20M | 32M | 50M | 12M | 12M | 52M | 10M | 10M | 23M | 40M | 11M | 20M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50M | 12M | 12M | 52M | 10M | 10M | 23M | 0 | 2M | 0 |
| Cash from Financing | -127M | 3.97B | -632M | -460M | -847M | -863M | -1.34B | -969M | -592M | -1.32B | -791M | -727M | -201M | -356M | -1.79B | -247M | -211M | -1.7B | -379M | -730M |
| Debt Issued (Net) | 7M | 3.63B | -22M | 372M | -68M | -42M | -13M | -34M | -4M | -49M | -28M | -66M | -29M | -91M | -3M | -29M | -48M | -41M | -8M | -64M |
| Equity Issued (Net) | 218M | 724M | -264M | -482M | -448M | -465M | -984M | -596M | -274M | -946M | -446M | -343M | 117M | 25M | -1.49B | 81M | 33M | -1.46B | -172M | -465M |
| Dividends Paid | -346M | -341M | -342M | -345M | -331M | -332M | -337M | -339M | -310M | -314M | -317M | -318M | -289M | -290M | -299M | -299M | -195M | -198M | -200M | -200M |
| Share Repurchases | 0 | 0 | -296M | -500M | -500M | -497M | -1.02B | -1B | -500M | -1B | -500M | -500M | 0 | 0 | -1.5B | 0 | 0 | -1.5B | -199M | -549M |
| Other Financing | -6M | -40M | -4M | -5M | 0 | -24M | -6M | 0 | -4M | -7M | 0 | 0 | 0 | 0 | 1M | 0 | -1M | 0 | 1M | -1M |
| Net Change in Cash | 1.62B | 5.12B | 404M | 664M | 367M | 106M | -914M | -558M | 857M | -1.08B | -326M | 199M | 1.45B | 727M | -2.2B | -47M | 832M | -768M | -20M | -234M |
| Free Cash Flow | 1.79B | 1.04B | 1.19B | 1.09B | 1.05B | 1.01B | 500M | 420M | 1.5B | 231M | 469M | 940M | 1.66B | 998M | -340M | 323M | 1.12B | 1.01B | 425M | 514M |
| FCF Margin % | 7.16% | 4.32% | 5.09% | 4.91% | 4.71% | 4.58% | 2.28% | 1.95% | 6.77% | 1.06% | 2.12% | 4.34% | 7.57% | 4.5% | -1.49% | 1.39% | 4.58% | 4.28% | 1.82% | 2.34% |
| FCF Growth % | 71.22% | 2.27% | 138.8% | 160.24% | -30.08% | 339.39% | 6.61% | -55.32% | -9.88% | -76.85% | 237.94% | 191.02% | 48.48% | -1.38% | -180% | -37.16% | 5.37% | 28.75% | -63.89% | -58.11% |
| FCF per Share | 7.43 | 4.27 | 4.91 | 4.50 | 4.39 | 4.16 | 2.05 | 1.70 | 6.03 | 0.92 | 1.85 | 3.70 | 6.54 | 3.94 | -1.33 | 1.23 | 4.27 | 3.82 | 1.59 | 1.90 |
| FCF Conversion (FCF/Net Income) | 2.04x | 1.89x | 2.04x | 2.08x | 1.53x | 2.21x | 1.78x | 1.49x | 1.83x | 1.83x | 1.97x | 2.07x | 2.22x | 2.95x | 1.93x | 1.84x | 6.28x | 2.02x | 1.91x | 1.87x |
| Interest Paid | 0 | 0 | 223M | 195M | 232M | 206M | 218M | 158M | 206M | 181M | 190M | 167M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 1.08B | 112M | -2.42B | 1.5B | 843M | 75M | 290M | 1.59B | 773M | 70M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |