Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Current Ratio since 2005
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FedEx Corp., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-05-31), 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).
The financial data reveals various trends across key asset categories over the six-year period ending May 31, 2025.
- Cash and Cash Equivalents
- There is an initial increase from 4,881 million USD in 2020 to a peak of 7,087 million USD in 2021, followed by a gradual decline reaching 5,502 million USD in 2025. This downward trend after 2021 suggests a reduction in liquid reserves over recent years.
- Receivables, Less Allowances
- The receivables showed growth from 10,102 million USD in 2020 to a high of 12,069 million USD in 2021, then a slight drop and fluctuating trend around 10,000 to 11,368 million USD through 2024 and 2025, indicating relatively stable but slightly variable credit extended to customers.
- Spare Parts, Supplies, and Fuel, Less Allowances
- This category experienced a modest upward trend initially, increasing from 572 million USD in 2020 to 637 million USD in 2022, then remained stable around 600 million USD through 2025. The limited variability suggests consistent inventory levels related to operations.
- Prepaid Expenses and Other
- Values increased gradually from 828 million USD in 2020 to a peak of 1,005 million USD in 2024, followed by a decline to 914 million USD in 2025. This may reflect adjustments in advance payments or other current asset components over time.
- Current Assets
- Current assets showed a significant increase from 16,383 million USD in 2020 to 20,580 million USD in 2021, but declined consistently thereafter to a low of 18,207 million USD in 2024 before a slight rise to 18,386 million USD in 2025. This pattern indicates variability in near-term asset liquidity and operational resources.
- Net Property and Equipment
- There is a steady growth observed in net property and equipment assets, rising from 33,608 million USD in 2020 to 41,642 million USD in 2025. This increase reflects ongoing capital investments or asset acquisitions supporting long-term operational capacity.
- Operating Lease Right-of-Use Assets, Net
- These assets grew from 13,917 million USD in 2020 to a peak of 17,347 million USD in 2023, followed by a moderate decline to 16,453 million USD in 2025, possibly indicating changes in leasing arrangements or lease portfolio adjustments.
- Goodwill
- Goodwill values increased from 6,372 million USD in 2020 to 6,992 million USD in 2021, but declined over the subsequent years to 6,423 million USD in 2024 before a slight recovery to 6,603 million USD in 2025. This suggests some impairment or restructuring activities affecting intangible asset valuation.
- Other Assets
- This category increased generally, moving from 3,257 million USD in 2020 to 4,543 million USD in 2025, with some fluctuations in the intervening years. The upward trend may indicate growth in miscellaneous long-term assets.
- Other Long-Term Assets
- Other long-term assets steadily increased from 23,546 million USD in 2020 to a high of 27,835 million USD in 2023, followed by a slight decrease and stabilization near 27,599 million USD in 2025, suggesting continued investment in or accumulation of long-term holdings.
- Long-Term Assets
- Long-term assets expanded consistently from 57,154 million USD in 2020 to 69,241 million USD in 2025, reflecting overall asset base growth supporting future operations.
- Total Assets
- Total assets demonstrated a steady increase from 73,537 million USD in 2020 to 87,627 million USD in 2025, with a consistent upward trend punctuated by minor fluctuations, evidencing ongoing asset accumulation and possible corporate expansion over the period.