Common-Size Balance Sheet: Assets
Quarterly Data
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FedEx Corp. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
- Aggregate Accruals
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FedEx Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-11-30), 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).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets shows a clear increase starting from 3.49% in August 2019, reaching a peak at around 10.7% in February 2021. Subsequently, it moderately declines but remains steady near 7% in the most recent periods, indicating an overall enhanced liquidity position compared to the initial period.
- Receivables, Less Allowances
- Receivables as a percentage of total assets remain relatively stable with minor fluctuations. The metric varies within a narrow band around 13-14% during most of the observed periods but exhibits a gradual downward trend after mid-2021, reaching approximately 11.5-13.6% by the latest period, suggesting improved collections efficiency or changing sales composition.
- Spare Parts, Supplies, and Fuel, Less Allowances
- This component remains quite flat throughout the timeline, fluctuating subtly around 0.7%, signaling steady inventory management without significant buildup or depletion of these assets.
- Prepaid Expenses and Other Current Assets
- The percentage fluctuates modestly, with a tendency to rise towards the later periods, ranging from about 1.08% initially to peaks near 1.5%. This could reflect changes in contractual prepaid items or timing differences related to expense accounting.
- Current Assets Overall
- Current assets as a share of total assets increase significantly from below 20% before mid-2020 to above 26% by late 2020 and early 2021, followed by a gradual decrease stabilizing near 21-23% in recent periods. This indicates an initial accumulation of liquid and short-term assets, possibly as a buffer during uncertain periods, with a normalization afterward.
- Property and Equipment, at Cost
- The relative weight of property and equipment shows a declining trend from approximately 90% in 2019 to a low around 83% late in 2020, followed by a gradual recovery and growth, surpassing 100% by late 2024. This indicates ongoing capital investments and asset acquisitions over time, increasing the company's fixed asset base relative to total assets.
- Accumulated Depreciation and Amortization
- The accumulated depreciation component consistently grows in magnitude (negative percentage increasing from about -43.5% to over -53%), reflecting ongoing asset aging and increased amortization charges over the years, consistent with the expansion in property and equipment.
- Net Property and Equipment
- Despite fluctuations in gross property and equipment and accumulated depreciation, net property and equipment remain relatively stable, with a slight upward trajectory from around 46% to above 47% of total assets, indicating a maintained and growing net investment in fixed assets.
- Operating Lease Right-of-Use Assets, Net
- This asset category remains fairly stable, hovering between approximately 18% and 20% throughout the timeline, with no significant upward or downward trend, reflecting consistent leasing commitments relative to total assets.
- Goodwill
- Goodwill as a portion of total assets experiences a modest decline from nearly 10% to around 7.4%, suggesting divestitures, impairments, or relative growth in other asset categories diminishing goodwill's share.
- Other Assets
- The proportion of other assets fluctuates modestly between 4.3% and 5.3%, showing minor variability but generally a stable component of total assets.
- Other Long-Term Assets
- This category trends slightly downward from almost 35% to near 30.5%, indicating either asset reclassification, disposal, or slower growth compared to total asset growth.
- Long-Term Assets Overall
- The share of long-term assets declines from just over 81% to about 77% by mid-2020, then rises gradually back above 79% by late 2024 before dropping slightly to 76.8%, indicating a dynamic management of the asset base with possible shifts between current and long-term asset classifications or changes in capital investment strategies.
- Total Assets
- Total assets are consistently normalized to 100%, serving as the baseline for all relative measurements and confirming the relative nature of the analyzed components.