# FedEx Freight Holding Company, Inc. (FDXF)

> Source: Nexqual · https://nexqual.com/FDXF · data as of 2026-10-29 19:59 UTC · cite as "Nexqual, FedEx Freight Holding Company, Inc. (FDXF), nexqual.com/FDXF" · informational, not investment advice.

**Price:** USD 109.88 (+1.43% on the day) · last close of Oct 29, 2026; US market after hours, not a live price. Prev close 108.33 · day 106.37–110.6 · 52w 103.48–200 · market cap $16.4B · NYQ

## Key facts
- 5 of 80 tracked superinvestors hold FDXF (13F, Q2 2026): 5 new, 0 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.14 on a 1–5 scale) (14 analysts), mean target USD 145.43 (range 108–200).
- Total return with dividends: 1Y -27.2% vs S&P 500 +14.4%; 5Y -31.5% vs S&P 500 +79.1%.
- Next earnings: 2026-10-29, EPS estimate USD 1.6, revenue estimate $2.41B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|
| Revenue | $9.42B | $8.89B | $8.79B | — |
| Operating income | $1.75B | $1.40B | $540M | — |
| Net income | $1.57B | $1.35B | $655M | — |
| EPS (diluted) | $10.53 | $9.00 | $4.38 | — |
| Free cash flow | $1.08B | $1.09B | -$212M | — |
| Operating margin | 18.6% | 15.8% | 6.1% | — |
| Net margin | 16.7% | 15.1% | 7.4% | — |
| Revenue growth | — | -5.6% | -1.1% | — |
| Cash + short-term investments | — | $109M | $251M | — |
| Total debt | — | $73.0M | $4.26B | — |
Fiscal years end May. EPS is split-adjusted.

## Valuation (price ÷ last four quarters)


## Superinvestors (SEC 13F-HR, Q2 2026)
5 of 80 tracked investors hold FDXF. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Viking Global | Viking Global Investors | 1.02% | $357M | New position |
| Dodge & Cox Funds | Dodge & Cox | 0.57% | $1.08B | New position |
| Bill Gates | Gates Foundation Trust | 0.52% | $180M | New position |
| John Rogers | Ariel Investments | 0.07% | $7.2M | New position |
| Tweedy Browne |  | 0.03% | $333K | New position |

## Analysts
Consensus Buy (mean 2.14 on a 1–5 scale), 14 analysts; mean target USD 145.43 (low 108, high 200).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | Stifel | Target lowered | Hold | $160 → $129 |
| 2026-10-07 | Truist Securities | Target lowered | Hold | $155 → $115 |
| 2026-10-05 | JP Morgan | Target lowered | Overweight | $160 → $149 |
| 2026-09-29 | B of A Securities | Target lowered | Buy | $157 → $140 |
| 2026-09-10 | Bernstein | Initiated | Market Perform | $133 |
| 2026-09-08 | JP Morgan | Initiated | Overweight | $160 |
| 2026-07-15 | Citizens | Initiated | Market Outperform | $190 |
| 2026-07-08 | Stephens & Co. | Initiated | Overweight | $180 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-05-27) | 5Y (from 2026-05-25) |
|---|---|---|
| Total return | -27.2% | -31.5% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | — | — |
| Volatility (annualized) | 59.4% | 32.2% |
| Max drawdown | -42.7% (Jun 2026→Oct 2026) | -38.0% (Jun 2026→Oct 2026) |

## Peers (Integrated Freight & Logistics)
ZTO (ZTO Express (Cayman) Inc.) USD 19.89 +0.71% · CHRW (C.H. Robinson Worldwide, Inc.) USD 127.43 -0.13% · JBHT (J.B. Hunt Transport Services, I) USD 222.06 -0.54% · EXPD (Expeditors International of Was) USD 198.32 +0.59% · GXO (GXO Logistics, Inc.) USD 49.91 +1.07% · LSTR (Landstar System, Inc.) USD 141.37 +1.85%

## More
Full page: https://nexqual.com/FDXF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in FDXF's own 10-K filed 2026-08-05 (https://www.sec.gov/Archives/edgar/data/2082247/000162828026053359/fdxf-20260531.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Federal Express | "We do not own the FedEx trademark or logo or associated purple and orange trade dress and have entered into the Trademark License Agreement with Federal Express, pursuant to which Federal Express granted us a license to …" |
| Partner | FedEx Dataworks | "In connection with the Spin-Off, we and FedEx, Federal Express, and FedEx Dataworks entered into the Intellectual Property Cross-License Agreement." |

Other companies that name FDXF in their own reports (relationship from FDXF's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | FEDEX CORP (FDX) | 10-K 2026-07-20 | "The Federal Express segment operates combined sales, marketing, administrative, and information-technology functions in shared service operations for U.S. customers of our major business units and cer…" |

## Revenue by product line (fiscal year ended 2026-05-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Priority | $5.56B | 63.2% | -0.4% |
| Economy | $2.83B | 32.1% | -2.2% |
| Other | $408.0M | 4.6% | -2.2% |
| Total revenue | $8.79B | 100% | — |

## Revenue by region (fiscal year ended 2026-05-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. | $8.55B | 97.2% | -1.1% |
| International | $243.0M | 2.8% | -1.6% |
| Total revenue | $8.79B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-05-31) | $1.60 | $1.55 | +3.0% | $2.41B | 10 |
| Next quarter (ends 2026-05-31) | $1.23 | $0.38 | +227.2% | $2.23B | 6 |
| Current fiscal year (ends 2026-05-31) | $4.46 | $4.25 | +4.9% | $9.14B | 10 |
| Next fiscal year (ends 2027-05-31) | $5.15 | $5.08 | +1.4% | $9.59B | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±12.3%; last 2 reports averaged ±2.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 58.6% | ±12.3% |
| 2026-12-18 | 50 | 49.4% | ±14.8% |
| 2027-03-19 | 141 | 49.1% | ±24.3% |
| 2027-06-17 | 231 | 47.9% | ±30.2% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | — | — | — | +1.2% |
| Jun 25, 2026 | — | — | — | — | -4.1% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-29 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/2082247/000162828026068228/0001628280-26-068228-index.htm |
| 2026-10-27 | Schedule 13G/A | BlackRock, Inc.: 5.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/2082247/000201238326003896/0002012383-26-003896-index.htm |
| 2026-10-02 | 8-K | Shareholder nominations; Other material event — “On October 1, 2026, the Board of Directors (the "Board") of FedEx Freight Holding Company, Inc. ("FedEx Freight" or the "Company") determined that the Company's first annual meeting of stockholders (the "2027 Annual Meeting") will be held on Wednesday, May 5, 2027. The time, location, and other meeting details for the 2027 Annual Meeting will be set forth in the Company's definitive proxy statement for the 2027 Annual Meeting to be filed with the Securities and Exchange Commission ("SEC"). Stockholder Proposals…” | https://www.sec.gov/Archives/edgar/data/2082247/000110465926113295/0001104659-26-113295-index.htm |
| 2026-09-02 | 8-K | Other material event — “On September 2, 2026, FedEx Freight Holding Company, Inc. ("FedEx Freight" or the "Company") terminated Michael B. Lyons, Executive Vice President - Chief Specialized Services and Commercial Officer. Following an internal investigation, the Company determined Mr. Lyons violated its Code of Conduct and no longer met the standards of employment at FedEx Freight. Mr. Lyons's conduct was not related to and did not impact the Company's financial reporting or performance, internal controls, strategy, or customer…” | https://www.sec.gov/Archives/edgar/data/2082247/000110465926104793/0001104659-26-104793-index.htm |
| 2026-08-07 | Schedule 13G | FedEx Corporation: 19.9% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/2082247/000110465926092744/0001104659-26-092744-index.htm |
| 2026-08-06 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/2082247/000162828026054314/0001628280-26-054314-index.htm |
| 2026-08-05 | 10-K | Annual report · period ended May 31, 2026 | https://www.sec.gov/Archives/edgar/data/2082247/000162828026053359/0001628280-26-053359-index.htm |
| 2026-07-31 | Schedule 13G | Vanguard Capital Management: 5.5% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/2082247/000210011926001416/0002100119-26-001416-index.htm |
| 2026-07-28 | Schedule 13G | BlackRock, Inc.: 7.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/2082247/000201238326002562/0002012383-26-002562-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.