FedEx Corporation (FDX) — Cash Flow Quality Index
Latest as of February 2026:
1.89x
FedEx Corporation (FDX) has a Cash Flow Quality Index of 1.89x as of February 2026. Operating cash flow of $1.99 Billion exceeds net income of $1.06 Billion, indicating high earnings quality where cash backs reported profits. Explore FDX operating cash flow to total debt to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
1.89x
Operating CF / Net Income
Operating Cash Flow
$1.99 Billion
USD
Net Income
$1.06 Billion
USD
Data as of
Feb 2026
Most recent filing
FedEx Corporation Cash Flow Quality Index (1990–2025)
Historical Cash Flow Quality Index for FedEx Corporation across 38 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see FDX cash flow conversion.
Annual Cash Flow Quality Index for FedEx Corporation (1990–2025)
Year-by-year earnings quality comparison for FedEx Corporation.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.72x | $7.04 Billion | $4.09 Billion | ▼ -10.4% |
| 2024 | 1.92x | $8.31 Billion | $4.33 Billion | ▼ -13.5% |
| 2023 | 2.22x | $8.81 Billion | $3.97 Billion | ▼ -13.6% |
| 2022 | 2.57x | $9.83 Billion | $3.83 Billion | ▲ +32.6% |
| 2021 | 1.94x | $10.13 Billion | $5.23 Billion | ▼ -51.1% |
| 2020 | 3.96x | $5.10 Billion | $1.29 Billion | ▼ -61.9% |
| 2019 | 10.39x | $5.61 Billion | $540.00 Million | ▲ +916.8% |
| 2018 | 1.02x | $4.67 Billion | $4.57 Billion | ▼ -53.1% |
| 2017 | 2.18x | $2.46 Billion | $1.13 Billion | ▲ +32.6% |
| 2017 | 1.64x | $4.93 Billion | $3.00 Billion | ▲ +8.3% |
| 2016 | 1.52x | $2.89 Billion | $1.90 Billion | ▼ -51.6% |
| 2016 | 3.14x | $5.71 Billion | $1.82 Billion | ▼ -18.2% |
| 2015 | 3.83x | $2.62 Billion | $682.00 Million | ▼ -25.0% |
| 2015 | 5.11x | $5.37 Billion | $1.05 Billion | ▲ +151.3% |
| 2014 | 2.03x | $4.26 Billion | $2.10 Billion | ▼ -32.3% |
| 2013 | 3.00x | $4.69 Billion | $1.56 Billion | ▲ +26.2% |
| 2012 | 2.38x | $4.83 Billion | $2.03 Billion | ▼ -14.5% |
| 2011 | 2.78x | $4.04 Billion | $1.45 Billion | ▲ +5.0% |
| 2010 | 2.65x | $3.14 Billion | $1.18 Billion | ▼ -90.6% |
| 2009 | 28.09x | $2.75 Billion | $98.00 Million | ▲ +807.1% |
| 2008 | 3.10x | $3.48 Billion | $1.12 Billion | ▲ +75.2% |
| 2007 | 1.77x | $3.56 Billion | $2.02 Billion | ▼ -13.2% |
| 2006 | 2.04x | $3.68 Billion | $1.81 Billion | ▼ -5.4% |
| 2005 | 2.15x | $3.12 Billion | $1.45 Billion | ▼ -40.3% |
| 2004 | 3.60x | $3.02 Billion | $838.00 Million | ▲ +59.9% |
| 2003 | 2.25x | $1.87 Billion | $830.00 Million | ▼ -28.2% |
| 2002 | 3.14x | $2.23 Billion | $710.00 Million | ▼ -10.3% |
| 2001 | 3.50x | $2.04 Billion | $584.37 Million | ▲ +48.1% |
| 2000 | 2.36x | $1.63 Billion | $688.34 Million | ▼ -15.9% |
| 1999 | 2.81x | $1.77 Billion | $631.33 Million | ▼ -18.1% |
| 1998 | 3.43x | $1.71 Billion | $498.15 Million | ▲ +22.8% |
| 1997 | 2.79x | $1.01 Billion | $361.20 Million | ▼ -9.3% |
| 1996 | 3.08x | $946.60 Million | $307.80 Million | ▼ -11.2% |
| 1995 | 3.46x | $1.03 Billion | $297.60 Million | ▼ -7.7% |
| 1994 | 3.75x | $767.30 Million | $204.40 Million | ▼ -43.2% |
| 1993 | 6.60x | $725.10 Million | $109.80 Million | ▼ -95.1% |
| 1991 | 133.46x | $787.40 Million | $5.90 Million | ▲ +2893.3% |
| 1990 | 4.46x | $516.30 Million | $115.80 Million | — |
Cash Flow Quality Index = Operating Cash Flow / Net Income. Ratios above 1.0x indicate cash-backed earnings.