Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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FedEx Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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 to total assets shows variability over the periods. Starting at 3.49% in August 2019, it rose sharply to a peak of 10.7% by February 2021, followed by a decline and fluctuating around 6% to 8% in the later years, indicating changes in liquidity management strategies.
- Receivables, Less Allowances
- This category remains relatively stable as a percentage of total assets, fluctuating modestly between approximately 11.5% and 14.6%. There is a slight downward trend observed from mid-2021 onwards, suggesting tighter credit controls or improved collections.
- Spare Parts, Supplies, and Fuel, Less Allowances
- This asset component maintains a low but steady share of total assets, generally between 0.68% and 0.84%, with minimal variation. This stability reflects consistent inventory levels relative to overall asset size.
- Prepaid Expenses and Other
- The proportion of prepaid expenses and other current assets shows some variability, ranging mostly between 1% and 1.5%. A spike occurs around late 2022, reaching approximately 1.56%, then it declines again, which could correlate with temporary changes in payments or expense recognition.
- Current Assets
- Current assets as a percentage of total assets increased notably from 19% in August 2019 to a peak of 26.2% in November 2020. Following this, the ratio declined gradually and stabilized around the 20%-22% range, indicating a shift in asset composition with a focus on balance between liquidity and long-term investment.
- Property and Equipment, at Cost
- The percentage of property and equipment to total assets declined from close to 90% in late 2019 to around 83% by late 2020, indicating possible asset disposals or adjustments. Subsequently, there was a sustained upward trend, reaching nearly 100% by 2024 before a minor dip, suggesting capital expenditures or asset revaluations.
- Accumulated Depreciation and Amortization
- Accumulated depreciation grows in absolute magnitude over time, moving from approximately -43.6% to around -53%. This increasing negative proportion reflects aging assets and ongoing depreciation consistent with expanding or aging fixed asset bases.
- Net Property and Equipment
- Net property and equipment as a percentage of total assets remained relatively stable, generally around 45%-48%. The progression shows a slight increase over time, supporting the observation of ongoing capital investment balanced with accumulated depreciation.
- Operating Lease Right-of-Use Assets, Net
- This category exhibits a generally stable pattern, fluctuating mildly around 18%-20%. The proportion decreased slightly through 2020, then remained fairly consistent, indicating steady lease commitments relative to assets.
- Goodwill
- The ratio of goodwill to total assets shows a declining trend from near 10% in 2019 down to approximately 7.5% by mid-2024, indicating either impairment, amortization, or a relative increase in other asset categories diminishing goodwill's share.
- Other Assets
- The allocation to other assets remains between 4% and 5.3%, displaying moderate fluctuations. Occasional increases suggest changes in miscellaneous asset holdings but generally no major shifts in asset structure.
- Other Long-Term Assets
- Other long-term assets consistently represent around 31%-35% of total assets, with minor variation. The downward trend from initial values near 35% towards the lower 31% range over the years suggests reallocation or reclassification within long-term asset categories.
- Long-Term Assets
- Long-term assets constitute a steady majority of total assets, hovering between approximately 73% and 80%. The slight decline observed from late 2019 into 2020 corresponds with increased current assets, followed by stabilization, reflecting an asset structure predominantly weighted toward long-term holdings.
- Total Assets
- By definition, the sum of all asset percentages equals 100% at each period, ensuring internal consistency of the data.