Current Ratio
since 2005
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FedEx Corp. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Aggregate Accruals
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Calculation
FedEx Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| May 31, 2024 | = | ÷ | |||
| May 31, 2023 | = | ÷ | |||
| May 31, 2022 | = | ÷ | |||
| May 31, 2021 | = | ÷ | |||
| May 31, 2020 | = | ÷ | |||
| May 31, 2019 | = | ÷ | |||
| May 31, 2018 | = | ÷ | |||
| May 31, 2017 | = | ÷ | |||
| May 31, 2016 | = | ÷ | |||
| May 31, 2015 | = | ÷ | |||
| May 31, 2014 | = | ÷ | |||
| May 31, 2013 | = | ÷ | |||
| May 31, 2012 | = | ÷ | |||
| May 31, 2011 | = | ÷ | |||
| May 31, 2010 | = | ÷ | |||
| May 31, 2009 | = | ÷ | |||
| May 31, 2008 | = | ÷ | |||
| May 31, 2007 | = | ÷ | |||
| May 31, 2006 | = | ÷ | |||
| May 31, 2005 | = | ÷ |
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), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
1 US$ in millions
- Current Assets
- Current assets exhibited a generally upward trend from 2005 through 2021, starting at 5,269 million USD in 2005 and reaching a peak of 20,580 million USD in 2021. This growth reflects a significant accumulation of liquid or near-liquid assets over the years. However, after 2021, current assets experienced a decline, falling to 18,207 million USD in 2024. Despite this recent decrease, the level in 2024 remains substantially higher than the levels observed in the early years.
- Current Liabilities
- Current liabilities rose from 4,734 million USD in 2005 to a peak of 14,274 million USD in 2022. This upward movement indicates an increasing obligation within the short-term period, which could be linked to business expansion or an increase in operational costs. Similar to current assets, current liabilities showed a slight decline after 2022, ending at 13,355 million USD in 2024. The increase in liabilities was less smooth compared to assets, with a notable jump occurring between 2014 and 2016.
- Current Ratio
- The current ratio, an indicator of short-term liquidity, fluctuated within a range from 1.11 in 2005 to a maximum of around 1.96 in 2013. The ratio generally remained above 1.1, suggesting the company maintained adequate current assets relative to its current liabilities throughout the period. However, the ratio showed a declining trend starting from its peak in 2013, descending to approximately 1.36 in 2024. This decline points to a reduction in the margin of safety related to the firm's ability to cover short-term obligations, reflecting either a faster growth in liabilities than assets or a decrease in liquid assets.
- Overall Analysis
- Over the examined period, the company demonstrated growth in both its current assets and current liabilities, with assets increasing at a notable pace until 2021, followed by a moderate contraction. The concurrent rise in liabilities suggests expanding short-term obligations, which is typical for a growing company but requires monitoring to ensure liquidity is maintained. The current ratio's peak in 2013 and subsequent gradual decline indicates that while liquidity was strong in the early 2010s, there has been a relative tightening in short-term financial flexibility in recent years. Continued attention to the balance between current assets and liabilities will be important for sustaining financial stability.
Comparison to Competitors
FedEx Corp., current ratio, long-term trends, comparison to competitors
| FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| May 31, 2024 | |||||
| May 31, 2023 | |||||
| May 31, 2022 | |||||
| May 31, 2021 | |||||
| May 31, 2020 | |||||
| May 31, 2019 | |||||
| May 31, 2018 | |||||
| May 31, 2017 | |||||
| May 31, 2016 | |||||
| May 31, 2015 | |||||
| May 31, 2014 | |||||
| May 31, 2013 | |||||
| May 31, 2012 | |||||
| May 31, 2011 | |||||
| May 31, 2010 | |||||
| May 31, 2009 | |||||
| May 31, 2008 | |||||
| May 31, 2007 | |||||
| May 31, 2006 | |||||
| May 31, 2005 |
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), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Sector (Transportation)
FedEx Corp., current ratio, long-term trends, comparison to sector (transportation)
| FedEx Corp. | Transportation | |
|---|---|---|
| May 31, 2024 | ||
| May 31, 2023 | ||
| May 31, 2022 | ||
| May 31, 2021 | ||
| May 31, 2020 | ||
| May 31, 2019 | ||
| May 31, 2018 | ||
| May 31, 2017 | ||
| May 31, 2016 | ||
| May 31, 2015 | ||
| May 31, 2014 | ||
| May 31, 2013 | ||
| May 31, 2012 | ||
| May 31, 2011 | ||
| May 31, 2010 | ||
| May 31, 2009 | ||
| May 31, 2008 | ||
| May 31, 2007 | ||
| May 31, 2006 | ||
| May 31, 2005 |
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), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Industry (Industrials)
FedEx Corp., current ratio, long-term trends, comparison to industry (industrials)
| FedEx Corp. | Industrials | |
|---|---|---|
| May 31, 2024 | ||
| May 31, 2023 | ||
| May 31, 2022 | ||
| May 31, 2021 | ||
| May 31, 2020 | ||
| May 31, 2019 | ||
| May 31, 2018 | ||
| May 31, 2017 | ||
| May 31, 2016 | ||
| May 31, 2015 | ||
| May 31, 2014 | ||
| May 31, 2013 | ||
| May 31, 2012 | ||
| May 31, 2011 | ||
| May 31, 2010 | ||
| May 31, 2009 | ||
| May 31, 2008 | ||
| May 31, 2007 | ||
| May 31, 2006 | ||
| May 31, 2005 |
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), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).