What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does FedEx Freight Holding Company (FDXF) spend its free cash flow?

For FY 2024, FedEx Freight Holding Company generated $1.53B of operating cash flow and $1.09B of free cash flow — a free cash flow margin of 71.5% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did FedEx Freight Holding Company (FDXF) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent FedEx Freight Holding Company's shareholder returns for FY 2024. You can compare these against free cash flow to assess the capital-return payout ratio.

FedEx Freight Holding Company (FDXF) Cash Flow Waterfall

Operating CF

$1.53B

Capex

−$437.00M

Free Cash Flow

$1.09B

FCF Margin

+71.5%

Cash flow waterfall for FedEx Freight Holding Company (FDXF) — FY 2024

Free cash flow: $1.09B

Cash flow breakdown for FedEx Freight Holding Company (FDXF) — FY 2024

Line item	Amount	Running total
Operating Cash Flow	$1.53B	$1.53B
Capital Expenditure	−$437.00M	$1.09B
Free Cash Flow	$1.09B	$1.09B
Other Investing	$52.00M	$1.15B
Net Debt Change	−$63.00M	$1.08B
Other Financing & FX	−$1.08B	$3.00M
Net Cash Increase	$3.00M	$3.00M

Operating Cash Flow$1.53B
Capital Expenditure−$437.00M
Free Cash Flow$1.09B
Other Investing$52.00M
Net Debt Change−$63.00M
Other Financing & FX−$1.08B
Net Cash Increase$3.00M

Want to see what drove the FCF change?Free Cash Flow Bridge

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