FedEx Freight Holding Co (FRA:30G) Beneish M-Score: 4.45 (As of Jul. 26, 2026) — Near Median

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FRA:30G FedEx Freight Holding Co Inc FRA:30G
25 GF Score
Price €135.50
! 2 Warning Signs
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What is FedEx Freight Holding Co Beneish M-Score?

FedEx Freight Holding Co FRA:30G +5.04% 25 Beneish M-Score is 4.45 as of Jul. 26, 2026, which is at its 10-year median of 4.45. GuruFocus rates FRA:30G with a GF Score™ of 25/100. The stock has 2 warning signs investors should review. Among 967 Transportation companies, FedEx Freight Holding Co ranks worse than 97.52% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score 4.45 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for FedEx Freight Holding Co's Beneish M-Score or its related term are showing as below:

FRA:30G' s Beneish M-Score Range Over the Past 10 Years
Min: 4.45   Med: 4.45   Max: 4.45
Current: 4.45

During the past 3 years, the highest Beneish M-Score of FedEx Freight Holding Co was 4.45. The lowest was 4.45. And the median was 4.45.

FedEx Freight Holding Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for FedEx Freight Holding Co's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

FedEx Freight Holding Co Beneish M-Score Chart

FedEx Freight Holding Co Annual Data
Trend May23 May24 May25
Beneish M-Score
0.00 0.00 4.45

FedEx Freight Holding Co Semi-Annual Data
May24 Nov24 May25 Nov25
Beneish M-Score 0.00 0.00 4.45 0.00

FRA:30G vs CHRW, EXPD, JBHT: Beneish M-Score Comparison

For the Integrated Freight & Logistics subindustry, FedEx Freight Holding Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

FedEx Freight Holding Co Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, FedEx Freight Holding Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where FedEx Freight Holding Co's Beneish M-Score falls into.


FRA:30G
25GF Score
FedEx Freight Holding Co Inc FRA:30G
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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FedEx Freight Holding Co Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of FedEx Freight Holding Co for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 8.9409+0.528 * 1.1158+0.404 * 0.8555+0.892 * 0.9043+0.115 * 0.9913
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.090308-0.327 * 0.7052
=4.42

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (May25) TTM:Last Year (May24) TTM:
Total Receivables was €1,040 Mil.
Revenue was €7,883 Mil.
Gross Profit was €2,454 Mil.
Total Current Assets was €1,193 Mil.
Total Assets was €5,500 Mil.
Property, Plant and Equipment(Net PPE) was €3,740 Mil.
Depreciation, Depletion and Amortization(DDA) was €369 Mil.
Selling, General, & Admin. Expense(SGA) was €0 Mil.
Total Current Liabilities was €679 Mil.
Long-Term Debt & Capital Lease Obligation was €1,113 Mil.
Net Income was €957 Mil.
Gross Profit was €96 Mil.
Cash Flow from Operations was €1,358 Mil.
 Total Receivables was €129 Mil.
Revenue was €8,717 Mil.
Gross Profit was €3,028 Mil.
Total Current Assets was €282 Mil.
Total Assets was €4,669 Mil.
Property, Plant and Equipment(Net PPE) was €3,824 Mil.
Depreciation, Depletion and Amortization(DDA) was €374 Mil.
Selling, General, & Admin. Expense(SGA) was €0 Mil.
Total Current Liabilities was €970 Mil.
Long-Term Debt & Capital Lease Obligation was €1,188 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(1039.564 / 7882.769) / (128.575 / 8717.2)
=0.131878 / 0.01475
=8.9409

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(3028.45 / 8717.2) / (2454.329 / 7882.769)
=0.347411 / 0.311354
=1.1158

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (1193.015 + 3739.592) / 5500.287) / (1 - (282.125 + 3823.95) / 4669.4)
=0.103209 / 0.120642
=0.8555

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=7882.769 / 8717.2
=0.9043

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(373.7 / (373.7 + 3823.95)) / (368.992 / (368.992 + 3739.592))
=0.089026 / 0.08981
=0.9913

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 7882.769) / (0 / 8717.2)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1113.185 + 679.442) / 5500.287) / ((1187.7 + 970.325) / 4669.4)
=0.325915 / 0.462163
=0.7052

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(957.073 - 95.796 - 1357.997) / 5500.287
=-0.090308

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

FedEx Freight Holding Co has a M-score of 4.42 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 4.45 mean?
FedEx Freight Holding Co (FRA:30G) has a Beneish M-Score of 4.45 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on FedEx Freight Holding Co and its competitors. This is near median its historical median of 4.45. Over the past decade, FedEx Freight Holding Co's Beneish M-Score has ranged from 4.45 to 4.45. According to the industry distribution chart, FedEx Freight Holding Co ranks #943 out of 967 companies in the Transportation industry, placing it in the top 97.5%.
Is FedEx Freight Holding Co's Beneish M-Score too high?
FedEx Freight Holding Co's current Beneish M-Score of 4.45 is near median its 10-year median of 4.45. Over the past 10 years, this metric has ranged from a low of 4.45 to a high of 4.45. Based on the distribution chart, FedEx Freight Holding Co ranks #943 out of 967 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, FedEx Freight Holding Co has a GF Score™ of 25/100, reflecting its overall financial health beyond just this single metric.
How does FedEx Freight Holding Co's Beneish M-Score compare to CHRW and EXPD?
According to the Transportation industry distribution chart, FedEx Freight Holding Co ranks #943 out of 967 companies for Beneish M-Score. This places FedEx Freight Holding Co in the lower half of its industry. Historically, FedEx Freight Holding Co's own Beneish M-Score has ranged from 4.45 to 4.45 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Transportation company?
A good Beneish M-Score depends on the Transportation industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on FedEx Freight Holding Co and its competitors. FedEx Freight Holding Co's current Beneish M-Score is 4.45, which is near median its own 10-year median of 4.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FedEx Freight Holding Co stock overvalued right now?
FedEx Freight Holding Co (FRA:30G) has a current Beneish M-Score of 4.45. The current Beneish M-Score is 4.45, which is near median its 10-year median of 4.45. FedEx Freight Holding Co's overall GF Score™ is 25/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For FedEx Freight Holding Co (FRA:30G), the current Beneish M-Score is 4.45 as of Jul. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

FedEx Freight Holding Co Business Description

Other Exchanges FDXF:USAFDXF:Mexico
Address 8285 Tournament Drive, Memphis, TN, USA, 38125
FedEx Freight Holding Co Inc is a North America-based less-than-truckload (LTL) transportation and freight services provider. Its service offerings - including Priority, Economy, and Direct shipping services - enable customers to select transportation options based on their needs. The company operates a network of vehicles and service locations across the U.S. states, Canada, Mexico, Puerto Rico, and the U.S. Virgin Islands, providing freight transportation and logistics services. It also utilizes data-driven technology and sales operations to support its transportation network and customer services.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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