Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

FedEx Corp., long-term (investment) activity ratios

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Net fixed asset turnover 2.11 2.22 2.45 2.35 2.06 2.29
Net fixed asset turnover (including operating lease, right-of-use asset) 1.50 1.55 1.71 1.64 1.46 2.29
Total asset turnover 1.01 1.03 1.09 1.01 0.94 1.28
Equity turnover 3.18 3.46 3.75 3.47 3.78 3.92

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. FedEx Corp. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). FedEx Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 and from 2023 to 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp. total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. FedEx Corp. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Net Fixed Asset Turnover

FedEx Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Revenue 87,693 90,155 93,512 83,959 69,217 69,693
Net property and equipment 41,491 40,698 38,091 35,752 33,608 30,429
Long-term Activity Ratio
Net fixed asset turnover1 2.11 2.22 2.45 2.35 2.06 2.29
Benchmarks
Net Fixed Asset Turnover, Competitors2
Uber Technologies Inc. 17.98 15.31 9.42 6.14 8.17
Union Pacific Corp. 0.42 0.44 0.40 0.36 0.40
United Parcel Service Inc. 2.46 2.89 2.91 2.62 2.43
Net Fixed Asset Turnover, Sector
Transportation 1.77 1.91 1.75 1.51 1.54
Net Fixed Asset Turnover, Industry
Industrials 3.16 3.22 3.04 2.41 2.76

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
Net fixed asset turnover = Revenue ÷ Net property and equipment
= 87,693 ÷ 41,491 = 2.11

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. FedEx Corp. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

FedEx Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Revenue 87,693 90,155 93,512 83,959 69,217 69,693
 
Net property and equipment 41,491 40,698 38,091 35,752 33,608 30,429
Operating lease right-of-use assets, net 17,115 17,347 16,613 15,383 13,917
Net property and equipment (including operating lease, right-of-use asset) 58,606 58,045 54,704 51,135 47,525 30,429
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.50 1.55 1.71 1.64 1.46 2.29
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Uber Technologies Inc. 11.25 9.03 5.39 3.61 4.25
Union Pacific Corp. 0.41 0.43 0.38 0.35 0.39
United Parcel Service Inc. 2.20 2.61 2.63 2.40 2.22
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Transportation 1.50 1.62 1.49 1.30 1.46
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.72 2.77 2.62 2.13 2.57

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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Net property and equipment (including operating lease, right-of-use asset)
= 87,693 ÷ 58,606 = 1.50

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). FedEx Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 and from 2023 to 2024.

Total Asset Turnover

FedEx Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Revenue 87,693 90,155 93,512 83,959 69,217 69,693
Total assets 87,007 87,143 85,994 82,777 73,537 54,403
Long-term Activity Ratio
Total asset turnover1 1.01 1.03 1.09 1.01 0.94 1.28
Benchmarks
Total Asset Turnover, Competitors2
Uber Technologies Inc. 0.96 0.99 0.45 0.33 0.45
Union Pacific Corp. 0.36 0.38 0.34 0.31 0.35
United Parcel Service Inc. 1.28 1.41 1.40 1.36 1.28
Total Asset Turnover, Sector
Transportation 0.92 0.98 0.87 0.80 0.87
Total Asset Turnover, Industry
Industrials 0.67 0.66 0.60 0.51 0.61

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
Total asset turnover = Revenue ÷ Total assets
= 87,693 ÷ 87,007 = 1.01

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp. total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Equity Turnover

FedEx Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Revenue 87,693 90,155 93,512 83,959 69,217 69,693
Common stockholders’ investment 27,582 26,088 24,939 24,168 18,295 17,757
Long-term Activity Ratio
Equity turnover1 3.18 3.46 3.75 3.47 3.78 3.92
Benchmarks
Equity Turnover, Competitors2
Uber Technologies Inc. 3.31 4.34 1.21 0.91 1.00
Union Pacific Corp. 1.63 2.05 1.54 1.15 1.20
United Parcel Service Inc. 5.26 5.07 6.83 128.81 22.68
Equity Turnover, Sector
Transportation 3.49 3.90 3.29 3.83 3.37
Equity Turnover, Industry
Industrials 3.22 2.94 2.58 2.75 3.53

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
Equity turnover = Revenue ÷ Common stockholders’ investment
= 87,693 ÷ 27,582 = 3.18

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. FedEx Corp. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.