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FedEx (FDX) free cash flow by quarter

FedEx's free cash flow was $1.8B in Q4 FY26 (fourth quarter fiscal 2026), +73% from Q3 FY26. Over the last 6 quarters it ranged from $1.0B (Q3 FY25) to $1.8B (Q4 FY26).

FedEx free cash flow by quarterFedEx free cash flow by quarter$1.0BQ3 FY25$1.0BQ4 FY25$1.1BQ1 FY26$1.2BQ2 FY26$1.0BQ3 FY26$1.8BQ4 FY26
QuarterFree cash flowQ/QY/Y
Q4 FY26$1.8B+73%+71%
Q3 FY26$1.0B-13%+2%
Q2 FY26$1.2B+9%—
Q1 FY26$1.1B+4%—
Q4 FY25$1.0B+3%—
Q3 FY25$1.0B——

Q4 FY26 at a glance

FedEx, Q4 FY26: revenue $25.0B (+12% year over year), operating margin 6.2%, net earnings $1.6B, operating cash flow $3.3B. The chart follows the revenue to costs, profit and cash.

Questions

What is FedEx's free cash flow?

FedEx's free cash flow was $1.8B in Q4 FY26 (fourth quarter fiscal 2026), +73% from Q3 FY26.

How has FedEx's free cash flow changed?

Over the last 6 quarters it ranged from $1.0B (Q3 FY25) to $1.8B (Q4 FY26).

Q4 FY26 results → · How FedEx makes money →