FedEx Freight Holding Company

FDXF

Integrated Freight & Logistics · Industrials

Price

$137.32

+0.92 (+0.67%)

Market Cap

$20.53B

Exchange

New York Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through May 31, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Mixed

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Share count rising — dilution

+16.8% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 128.0M (2023) → 149.5M (2026)

Winston Score History

The full picture

FedEx Freight Holding Company is the less-than-truckload (LTL) freight division of FedEx Corporation. It picks up packages and pallets that are too big for small parcel delivery but not big enough to fill an entire truck, then combines shipments from multiple customers into one truck to save money. Its main customers are businesses — retailers, manufacturers, and distributors — that need to ship heavy or bulky goods across the United States.

The company earns revenue by charging shippers based on the weight, size, and distance of each freight shipment. It operates primarily across North America, with a large network of service centers that gives it broad geographic reach and reliable transit times — a key competitive advantage in LTL freight. The main risk the business faces is economic slowdown, since freight volumes tend to fall sharply when businesses cut back on production and inventory, which directly pressures revenue and margins.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-33.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

20.2%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 months

$251M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

FedEx Freight Holding Company has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

31.6%

Modest — 31.6% gross margin

Profit after running costs

Operating Margin

11.4%

Modest — 11.4% operating margin

Return on the money invested

ROCE

7.0%

Weak — 7.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-1.0%

Shrinking sales (-1.0% YoY)

Profit growth

EPS YoY

-56.5%

Earnings shrinking (-56.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

0/4 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

30%

Weak — only 30% of profit becomes cash

Spare cash per sale

FCF Margin

-2.4%

Burning cash (-2.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

45.00x

Comfortably covers interest (45.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

35.5x

Pricey — P/E 35.5

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+1.3

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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