Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
FedEx Corp., liquidity ratios
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | FedEx Corp. current ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | FedEx Corp. quick ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | FedEx Corp. cash ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Current Ratio
FedEx Corp., current ratio calculation, comparison to benchmarks
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current assets | 18,207) | 18,610) | 20,365) | 20,580) | 16,383) | 13,086) | |
| Current liabilities | 13,355) | 13,586) | 14,274) | 13,660) | 10,344) | 9,013) | |
| Liquidity Ratio | |||||||
| Current ratio1 | 1.36 | 1.37 | 1.43 | 1.51 | 1.58 | 1.45 | |
| Benchmarks | |||||||
| Current Ratio, Competitors2 | |||||||
| Uber Technologies Inc. | — | 1.19 | 1.04 | 0.98 | 1.44 | 2.47 | |
| Union Pacific Corp. | — | 0.81 | 0.72 | 0.62 | 1.01 | 0.79 | |
| United Parcel Service Inc. | — | 1.10 | 1.22 | 1.42 | 1.19 | 1.11 | |
| Current Ratio, Sector | |||||||
| Transportation | — | 1.17 | 1.19 | 1.26 | 1.32 | 1.38 | |
| Current Ratio, Industry | |||||||
| Industrials | — | 1.18 | 1.21 | 1.30 | 1.42 | 1.19 | |
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 18,207 ÷ 13,355 = 1.36
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | FedEx Corp. current ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Quick Ratio
FedEx Corp., quick ratio calculation, comparison to benchmarks
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cash and cash equivalents | 6,501) | 6,856) | 6,897) | 7,087) | 4,881) | 2,319) | |
| Receivables, less allowances | 10,087) | 10,188) | 11,863) | 12,069) | 10,102) | 9,116) | |
| Total quick assets | 16,588) | 17,044) | 18,760) | 19,156) | 14,983) | 11,435) | |
| Current liabilities | 13,355) | 13,586) | 14,274) | 13,660) | 10,344) | 9,013) | |
| Liquidity Ratio | |||||||
| Quick ratio1 | 1.24 | 1.25 | 1.31 | 1.40 | 1.45 | 1.27 | |
| Benchmarks | |||||||
| Quick Ratio, Competitors2 | |||||||
| Uber Technologies Inc. | — | 1.02 | 0.88 | 0.82 | 1.19 | 2.24 | |
| Union Pacific Corp. | — | 0.61 | 0.52 | 0.47 | 0.79 | 0.56 | |
| United Parcel Service Inc. | — | 0.98 | 1.11 | 1.32 | 1.00 | 0.99 | |
| Quick Ratio, Sector | |||||||
| Transportation | — | 1.03 | 1.06 | 1.14 | 1.13 | 1.21 | |
| Quick Ratio, Industry | |||||||
| Industrials | — | 0.66 | 0.70 | 0.78 | 0.87 | 0.71 | |
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 16,588 ÷ 13,355 = 1.24
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | FedEx Corp. quick ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Cash Ratio
FedEx Corp., cash ratio calculation, comparison to benchmarks
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cash and cash equivalents | 6,501) | 6,856) | 6,897) | 7,087) | 4,881) | 2,319) | |
| Total cash assets | 6,501) | 6,856) | 6,897) | 7,087) | 4,881) | 2,319) | |
| Current liabilities | 13,355) | 13,586) | 14,274) | 13,660) | 10,344) | 9,013) | |
| Liquidity Ratio | |||||||
| Cash ratio1 | 0.49 | 0.50 | 0.48 | 0.52 | 0.47 | 0.26 | |
| Benchmarks | |||||||
| Cash Ratio, Competitors2 | |||||||
| Uber Technologies Inc. | — | 0.66 | 0.56 | 0.55 | 1.03 | 2.02 | |
| Union Pacific Corp. | — | 0.21 | 0.18 | 0.17 | 0.43 | 0.19 | |
| United Parcel Service Inc. | — | 0.34 | 0.42 | 0.60 | 0.37 | 0.37 | |
| Cash Ratio, Sector | |||||||
| Transportation | — | 0.44 | 0.44 | 0.51 | 0.52 | 0.59 | |
| Cash Ratio, Industry | |||||||
| Industrials | — | 0.27 | 0.29 | 0.35 | 0.45 | 0.34 | |
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 6,501 ÷ 13,355 = 0.49
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | FedEx Corp. cash ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |