FedEx Corporation(FDX)
NASDAQ

Fundamental Analysis & Financials

$324.31
7.77 (2.45%)

Valuation Snapshot

What the multiples imply about expectations

The market considers the company to be a mid-cap company with a significant market presence. At current multiples, it trades fairly valued—reflecting market expectations.

Valuation Metrics

Ratios and multiples

Forward P/E
15.71
EV/Revenue (TTM)1.12
Price/FCF (TTM)13.57

Financial Health

Liquidity and leverage

ROE (TTM)14.85%
ROA (TTM)5.01%
Debt/Equity (MRQ)135.70

The company's financial health appears strong. High ROE and strong ROA reflect reasonably efficient capital use. Debt is elevated but represents structural leverage for shareholder return strategy (buybacks) rather than operational stress.

Valuation Multiples

Current valuation metrics

P/E Ratio17.65
P/B Ratio2.46
P/S Ratio0.81
EV/EBITDA8.96
PEG Ratio1.40

Quarterly Earnings History

Recent quarterly financial performance and trends

Latest Quarter
Q2 2026
Revenue (TTM)
$25.01B
Net Income (TTM)
$1.60B
EPS (Diluted)
$6.60
QuarterRevenueNet IncomeGross ProfitEPS (Basic)EPS (Diluted)Gross MarginNet Margin
Q2 2026(Latest)$25.01B$1.60B$5.67B$6.63$6.6022.7%6.4%
Q1 2026$24.00B$1.06B$5.12B$4.42$4.4121.3%4.4%
Q4 2025$23.47B$956.00M$5.13B$4.07$4.0421.9%4.1%
Q3 2025$22.24B$824.00M$4.69B$3.46$3.4621.1%3.7%
Q2 2025$22.22B$1.65B$5.31B$6.92$6.8823.9%7.4%
Q1 2025$22.16B$909.00M$4.73B$3.76$3.7621.3%4.1%

Key Insights:

  • Revenue increased by 4.2% from previous quarter
  • Net margin of 6.4% indicates moderate profitability
  • EPS improved by 49.7% quarter-over-quarter

Financial Efficiency

Utilization and collections performance

Asset Turnover 0.96 indicates moderate efficiency. Receivables Turnover 7.47 and DSO 48.83 reflect good collections. Working Capital Turnover 10.54 is highly efficient. ROIC 7.7% highlights weak capital returns.

Efficiency Metrics

Asset Turnover0.96
Receivables Turnover7.47
Working Capital Turnover10.54
Days Sales Outstanding48.83
Days Inventory Outstanding3.30
ROIC (TTM)7.7%
Inventory Turnover110.76
Cash Conversion Cycle30.81

Profitability & Growth

Margins and earnings power

Revenue (TTM)
$94.72B
12.50 YoY
Profit Margin (TTM)
4.68%
Operating Margin (TTM)
11.13%
Gross Profit (TTM)
$25.88B
Gross Margin 27.32%
EBITDA (TTM)
$11.84B
EBITDA Margin 12.50%
Net Income (TTM)
$4.43B
Earnings -4.30% YoY

Efficiency Performance Matrix

4-quadrant analysis of operational efficiency vs profitability

Efficiency vs Profitability Quadrants

High Efficiency
High Margin
High Efficiency
Low Margin
Low Efficiency
High Margin
Low Efficiency
Low Margin

Efficiency Analysis

Asset Turnover
Efficiency:0.96x
Margin:27.3%
Quadrant:Weak Operations
Receivables Turnover
Efficiency:7.47x
Margin:11.1%
Quadrant:Weak Operations
Working Capital
Efficiency:10.54x
Margin:4.7%
Quadrant:Efficiency-Driven
Overall Efficiency Score

Operationally weak with structural efficiency and margin issues

⚠️ Thresholds are benchmark-based heuristics derived from long-term industry averages, not strict valuation rules.

• Bubble size represents ROIC magnitude

• Green (Optimal): Excellent efficiency-profitability balance

• Blue (Efficiency-Driven): High turnover, room to improve margins

• Yellow (Margin-Driven): Strong margins, opportunity to improve efficiency

• Red (Weak Operations): Areas needing improvement on both dimensions

Market Data & Share Structure

Comprehensive valuation metrics and ownership breakdown

Market Data & Capitalization

Market Cap
$77.49B
Mega-cap: Premium liquidity & institutional favorite
Enterprise Value
$106.85B
EV 38% > Market Cap: Net debt position
Next Earnings Date
10/28/2026
Scheduled quarterly results announcement

Share Statistics & Ownership

Shares Outstanding
236.67M
Total shares issued and held by all shareholders
Shares Float
218.58M
92% float - good liquidity
Institutional Ownership
82.51%
Very high - strong institutional confidence
Insider Ownership
6.24%
Good alignment - management has skin in game
Shares Short
5.03M
2.3% of float - moderate shorting
Implied Shares Outstanding
236.67M
Matches reported shares - consistent data

Profitability Margin Pyramid

Hierarchical view of margin compression from revenue to net income

Margin Hierarchy by Profitability Level

100.0%
Revenue
$94.72B
27.3%
Gross Profit
$25.88B
12.5%
EBITDA
$11.84B
4.7%
Net Income
$4.43B
Margin Profile:
Revenue100.0% margin (Top line revenue generation)
Gross Profit27.3% margin (Revenue minus cost of goods sold)
EBITDA12.5% margin (Earnings before interest, taxes, depreciation, and amortization)
Net Income4.7% margin (Bottom line profitability after all expenses)

Margin Analysis

Total Revenue

Amount:$94.72B
Margin:100.0%
Top line revenue generation

Gross Profit

Amount:$25.88B
Margin:27.3%
Revenue minus cost of goods sold

EBITDA

Amount:$11.84B
Margin:12.5%
Earnings before interest, taxes, depreciation, and amortization

Net Income

Amount:$4.43B
Margin:4.7%
Bottom line profitability after all expenses

Margin Quality Assessment

Thin margins indicating potential profitability challenges

• Larger circles represent higher dollar amounts

• Margin percentages show profitability at each level

• Blue: Revenue base

• Green: Gross profitability

• Yellow: Operating performance

• Red: Net profitability

Operating Cash & Liquidity

Core cash generation and short-term solvency

Cash Flow Analysis

Operating Cash Flow (TTM)

$8.92B

Cash from core operations

Free Cash Flow (TTM)

$5.66B

Available after capex

Financial Position & Liquidity

Current Ratio

1.48

Adequate

Quick Ratio

1.39

Strong

Net Cash

$-29.39B

Net debtor

Total Cash

$13.55B

Balance sheet cash

Total Debt

$42.94B

Outstanding borrowings

Ownership & Shareholder Sentiment

Insider, institutional, and short interest positions

Insider Ownership

6.24%

Moderate stake

Institutional Ownership

82.51%

Majority backing

Short % of Float

213.00%

Heavy bearish

Short Ratio (Days)

3.2d

days to cover

Ownership structure shows strong insider confidence and institutional majority backing.

Dividends & Shareholder Returns

Policy stance and implications

The company maintains a very sustainable dividend policy with a payout ratio of 31.3% (FCF coverage: 4.3x). Strong cash flow coverage supporting attractive shareholder yield with ample room for sustainability.

Payout Ratio
31.27%
Trailing Dividend Rate
5.57
Trailing Dividend Yield
1.72%
5 Year Avg Dividend Yield
1.85%
Forward Annual Dividend Rate
4.88
Forward Annual Dividend Yield
1.50%
Ex-Dividend Date
09/14/2026
Last Split
06/01/2026 (1.24)