Common-Size Balance Sheet: Assets
Quarterly Data
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
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FedEx Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).
- Cash and cash equivalents
- The percentage of cash and cash equivalents relative to total assets shows a notable increase from early 2020, peaking around late 2020 and early 2021, reaching above 10%. After this period, there is a general downward trend with some fluctuations, settling slightly below 7% by early 2025.
- Receivables, less allowances
- Receivables as a percentage of total assets experienced a decline starting mid-2018 through late 2023, with values falling from nearly 18% to around 11-12%. This trend suggests a reduction in receivables relative to total asset base, stabilizing somewhat in the latter periods.
- Spare parts, supplies, and fuel, less allowances
- This category remains fairly stable throughout the period, consistently close to 0.7% of total assets with minor variations, indicating steady inventory management relative to asset size.
- Prepaid expenses and other
- The values for prepaid expenses and other assets fluctuate moderately, generally remaining between 1% and 1.5% of total assets. Peaks occur in late 2021 and early 2025, indicating occasional shifts in prepaid or other current asset allocations.
- Current assets
- Current assets as a share of total assets declined significantly around mid-2019, falling from about 25% down to near 17-18%, before rebounding strongly in 2020 to over 26%. Following this peak, there is a gradual downward trend stabilizing around 20-21%, reflecting shifting asset composition toward long-term holdings.
- Property and equipment, at cost
- Property and equipment as a percentage of total assets declined sharply in mid-2019 from approximately 109% to below 90%, then experienced a steady and gradual increase, reaching over 101% by early 2025. This reflects ongoing investment and capital asset growth over the analyzed period.
- Accumulated depreciation and amortization
- Accumulated depreciation shows a consistent increase in absolute terms, becoming more negative over time as a percentage of total assets, moving from roughly -53% to beyond -53.6%, indicating growing depreciation expense in proportion to assets.
- Net property and equipment
- Net property and equipment decreased significantly in the 2019 mid-year period, mirroring the trend observed in gross property and equipment, but then gradually recovered and increased steadily from around 44% to over 48% by early 2025, suggesting sustained net investment in fixed assets despite depreciation.
- Operating lease right-of-use assets, net
- Introduced around mid-2019, the operating lease right-of-use assets remain relatively stable near 19-20% of total assets through the subsequent periods, reflecting the adoption and consistent utilization of operating leases.
- Goodwill
- Goodwill as a percentage of total assets decreased from about 13% in 2018 to stabilize around 7-8% in later years, representing a decline in goodwill relative to total assets, possibly due to amortization or asset revaluation.
- Other assets
- Other assets show moderate fluctuations between roughly 4% and 7% without a clear trend, indicating varying levels of miscellaneous assets relative to the total asset base.
- Other long-term assets
- There was a marked increase in other long-term assets from around 20% to above 34% of total assets by mid-2019, followed by a gradual decline stabilizing near 31-32%, indicating a major reclassification or acquisition event leading up to 2019 and subsequent steady-state afterwards.
- Long-term assets
- Long-term assets as a percentage of total assets increased from about 75% in 2018 to nearly 80% in early 2025, showing a shift towards a larger proportion of long-term holdings within total assets.
- Total assets
- All components are expressed as a percentage of total assets, which consistently totals 100%, serving as a stable base for comparing relative asset composition changes over time.