FedEx Freight Holding Company, Inc. (FDXF) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+30.7%

$174.74

vs $133.69 price

Levered DCF

$102.58

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.03

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023
P/E	34.14×	17×	11.9×	12.13×
P/B	-44.98×	7.67×	8.82×	0×
P/S	2.54×	2.06×	1.99×	1.9×
EV / EBITDA	20.48×	10.56×	8.08×	0×
Gross margin	100.0%	31.1%	34.7%	36.1%
Operating margin	6.1%	15.1%	18.6%	18.8%
Net margin	7.4%	12.1%	16.7%	15.7%
Current ratio	1.52×	0.37×	0.29×	0×
Debt / equity	-12.81×	0.6×	0.68×	0×
Interest coverage	9.47×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023
Return on equity	-131.8%	45.1%	74.1%	0.0%
Return on invested capital	6.6%	22.5%	31.9%	0.0%
Return on assets	9.5%	21.5%	31.2%	0.0%
Free cash flow yield	-0.9%	6.0%	5.8%	6.2%
Earnings yield	2.9%	5.9%	8.4%	8.2%
Enterprise value	$28.5B	$19.7B	$20.1B	$0
Net debt / EBITDA	4.4×	0.71×	0.54×	0×
Cash conversion cycle (days)	49	-2	-2	0