Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Paying user area
Try for free
FedEx Corp. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to FedEx Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
FedEx Corp., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-08-31), 10-K (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31).
- Net income
- Net income exhibits significant volatility across the quarters. Initial quarters show moderate positive values, followed by a notable loss in May 2020. Subsequently, net income recovers and fluctuates with peaks observed particularly in May 2021 and May 2023. The general pattern indicates cyclical increases with intermittent declines, but overall the company maintains positive profitability in most quarters.
- Depreciation and amortization
- This expense shows a steady and gradual increase over time, starting at 879 million and rising consistently to approximately 1,092 million by August 2025. This trend suggests ongoing investment in fixed assets and capital expenditures that are being systematically amortized.
- Asset impairment charges
- Asset impairments are episodic, with a significant charge in November 2019 and a large spike in May 2020. Subsequent periods show reduced or no impairment charges, indicating that asset write-downs are infrequent but may impact earnings when they occur.
- Provision for uncollectible accounts
- This provision generally fluctuates without clear trend, ranging mostly between 70 million to 245 million. There is a notable peak in August 2022 at 245 million and another increase toward the last periods, rising again to 219 million by August 2025. This variability suggests varying credit risk over time.
- Other noncash items including leases and deferred income taxes
- This item fluctuates notably, with large spikes at various points, for example, a high of 1,047 million in May 2023 and a low of 433 million in May 2022. These fluctuations imply volatile impacts from tax and lease accounting adjustments on noncash expenses.
- Stock-based compensation
- Stock-based compensation costs remain relatively stable with minor oscillations between roughly 30 million to 70 million, indicating a consistent expense related to equity incentives for employees.
- Retirement plans mark-to-market adjustments
- This line is highly irregular and sporadic with large positive and negative swings, including a notable negative adjustment of -1,228 million in May 2021 and positive adjustments over 1,000 million in May 2022. Such fluctuations reflect significant volatility in pension and retirement benefit valuations impacting financial expenses or income.
- Cash provided by operating activities
- Operating cash flow demonstrates a generally upward trend with some quarter-to-quarter variability. Cash from operations starts around 565 million and reaches notably higher values above 3,400 million in May 2023. This reflects strong cash generation ability over time, supporting operational needs and investments.
- Capital expenditures
- Capital spending remains significant and relatively stable, generally focused between approximately 1,200 million and 1,800 million per quarter, with occasional dips such as in August 2024. The stable capital expenditure pattern signifies continued investment in property, plant, and equipment.
- Cash used in investing activities
- Investing cash flows consistently show negative values, reflecting ongoing capital expenditures and occasional acquisitions. The amounts are typically within the range of 1,200 million to 2,300 million outflows, indicating substantial reinvestment into the business assets.
- Cash provided by (used in) financing activities
- Financing activities cash flows reveal high variability, with large inflows such as 2,514 million in May 2020 contrasted with substantial outflows in later quarters, including -1,793 million in November 2022. This fluctuation reflects active management of debt, equity issuance, stock repurchases, and dividend payments.
- Dividends paid
- Dividend payments increase gradually from about 170 million in early periods to around 345 million by August 2025. This steady rise evidences a consistent policy of returning capital to shareholders over time.
- Purchases of common stock
- There are substantial and irregular repurchases especially in late 2020 and 2021 where large buybacks occur, including transactions around 1,500 million, followed by more moderate repurchases in subsequent periods. These trends suggest active share repurchase programs for capital management.
- Net increase (decrease) in cash and cash equivalents
- Cash levels fluctuate markedly, with major increases in periods such as May 2020 (3,115 million increase) and May 2023 (1,483 million increase), contrasted with sharp decreases such as in November 2022 (-2,204 million) and November 2023 (-914 million). This volatility reflects the interplay of operating, investing, and financing cash flows as well as market and business conditions.