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FedEx's less-than-truckload (LTL) trucking division, moving palletized freight across North America; spun off as a standalone public company.
FedEx's less-than-truckload (LTL) trucking division, moving palletized freight across North America; spun off as a standalone public company.
Is paid per shipment, priced by weight, freight class and distance with fuel surcharges added, and moves freight through a network of terminals that consolidates small loads from many shippers onto the same trucks. It was FedEx's freight arm until it was spun off as a separate listed company.
Moat: narrow (scale, brand, installed base). Large terminal network and FedEx brand recognition support pricing and service reliability.
Headquarters: Memphis, Tennessee, USA · Employees: 40,000
Size FedEx Freight (FDXF) is a United States Industrials company (Trucking) with a market value of $18.5B, the 516th largest of 3,117 United States companies the cockpit tracks. Shares closed at $123.56 on 6 Nov 2026.
Growth Revenue fell 1.1% over the last twelve months (peer median +8.2%); the operating margin is 6.1% (peer median 7.3%).
Valuation It trades at 24.7× forward earnings against a peer median of 21.9× (3rd most expensive of 9).
Capital Return on invested capital runs 1.5 points above its cost of capital (6.1% WACC).
Credit FedEx Freight has 2 bonds outstanding ($2.00B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 115 bp.
Short interest Short interest is 4.2% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | $8.79B | $8.89B | $9.42B |
| Revenue growth | — | -1% | -6% | — |
| Gross profit | n/a | $2.37B | $2.64B | $2.99B |
| EBITDA | n/a | $1.05B | $1.88B | $2.21B |
| Net income | n/a | $655M | $1.35B | $1.57B |
| Free cash flow | n/a | -$212M | $1.09B | $1.08B |
| Capital expenditure | n/a | $379M | $437M | $461M |
| Total debt | $6.26B | $6.37B | $1.43B | n/a |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| FedEx Freight FDXF | $18.5B | n/a | -1% | 6% | 24.7× | n/a |
| Old Dominion ODFL | $34.2B | -17% | +4% | 27% | 24.9× | 15.7% |
| XPO XPO | $20.6B | -13% | +9% | 11% | 26.6× | 26.2% |
| Saia SAIA | $8.86B | -26% | +9% | 11% | 24.0× | 27.4% |
| TFI International TFII.TO | $7.86B | -29% | +3% | 7% | 14.2× | 11.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FDXF | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | -9.7% | highest of 9 |
| Distance from 52-week high | -38.2% | -31.2% | 2nd lowest of 9 |
| Revenue growth (TTM) | -1.1% | +8.2% | lowest of 9 |
| Operating margin | 6.1% | 7.3% | 4th lowest of 9 |
| Forward P/E | 24.7× | 21.9× | 3rd most expensive of 9 |
| ROIC minus cost of capital | +1.5 pp | -0.6 pp | 4th highest of 9 |
| EV / EBITDA | 23.1× | 12.6× | most expensive of 8 |
| Net debt / EBITDA | 5.6× | 0.4× | most indebted of 9 |
| Bond spread | 115 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| FedEx Freight FDXF | United States | $18.5B | n/a | -1% | 6% | 24.7× | n/a | n/a |
| J.B. Hunt JBHT | United States | $20.3B | -11% | +11% | 7% | 24.3× | 16.8% | +4.5% |
| XPO XPO | United States | $20.6B | -13% | +9% | 11% | 26.6× | 26.2% | -4.4% |
| Old Dominion ODFL | United States | $34.2B | -17% | +4% | 27% | 24.9× | 15.7% | +6.5% |
| Knight-Swift Transportation KNX | United States | $9.51B | -9% | +7% | 4% | 15.6× | 21.3% | +9.8% |
| Saia SAIA | United States | $8.86B | -26% | +9% | 11% | 24.0× | 27.4% | +12.2% |
| TFI International TFII.TO | Canada | $7.86B | -29% | +3% | 7% | 14.2× | 11.6% | +16.8% |
| Schneider National SNDR | United States | $4.88B | -10% | +6% | 3% | 18.7× | 19.5% | +4.5% |
| Landstar System LSTR | United States | $4.83B | -22% | +11% | 4% | 19.8× | 12.0% | +2.8% |
FedEx Freight has 2 bonds outstanding with $2.00B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.81%, a spread of 115 bp over government bonds.