FedEx Freight Holding Company

FDXF

Integrated Freight & Logistics · Industrials

Price

$152.26

-0.17 (-0.11%)

Market Cap

$19.27B

Exchange

New York Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−5.1% over 2y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 128.0M (2023) → 121.5M (2025)

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.

Winston Score History

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

-4.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-101.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Runway

~1 months

$102M 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

Gross Margin

24.8%

Thin — 24.8% gross margin

Operating Margin

-0.3%

Losing money on operations — -0.3%

ROCE

-0.2%

Weak — -0.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

N/A

Data not available

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Cash Flow

Cash Conversion

131%

Turns 131% of profit into real cash

FCF Margin

4.1%

Thin free cash flow (4.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

59.46x

Comfortably covers interest (59.5x)

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

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Valuation

P/E Ratio (TTM)

34.6x

Pricey — P/E 34.6

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+3.0

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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