FedEx Corporation
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $4.43B | $4.09B | $4.33B | $3.97B | $3.83B | $5.23B | $1.29B | $540.0M |
| Depreciation & Amortization | $4.37B | $4.26B | $4.29B | $4.18B | $3.97B | $3.79B | $3.62B | $3.35B |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $54.0M | $48.0M | $47.0M | $52.0M | $52.0M | $49.0M | $66.0M | $82.0M |
| Stock-Based Compensation | $177.0M | $154.0M | $163.0M | $182.0M | $190.0M | $200.0M | $168.0M | $174.0M |
| Net Cash from Operating Activities | $8.93B | $7.04B | $8.31B | $8.85B | $9.83B | $10.14B | $5.10B | $5.61B |
| Investing Activities | ||||||||
| Capital Expenditures | $3.81B | $4.06B | $5.18B | $6.17B | $6.76B | $5.88B | $5.87B | $5.49B |
| Business Acquisitions | — | — | — | — | — | $228.0M | — | $66.0M |
| Net Cash from Investing Activities | $-3.91B | $-4.09B | $-5.20B | $-6.17B | $-6.82B | $-6.01B | $-5.85B | $-5.47B |
| Financing Activities | ||||||||
| Dividends Paid | $1.37B | $1.34B | $1.26B | $1.18B | $793.0M | $686.0M | $679.0M | $683.0M |
| Stock Repurchases | $796.0M | $3.02B | $2.50B | $1.50B | $2.25B | — | $3.0M | $1.48B |
| Net Cash from Financing Activities | $2.75B | $-4.02B | $-3.43B | $-2.60B | $-3.02B | $-2.09B | $3.38B | $-1.04B |
| Net Change in Cash | $7.81B | $-999.0M | $-355.0M | $-41.0M | $-190.0M | $2.21B | $2.56B | $-946.0M |
| Free Cash Flow | $5.12B | $2.98B | $3.14B | $2.67B | $3.07B | $4.25B | $-771.0M | $123.0M |