Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

$24.99

Current Ratio
since 2005

Microsoft Excel

Calculation

FedEx Corp., current ratio, long-term trends, calculation

Microsoft Excel

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

Microsoft Excel

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)


Comparison to Industry (Industrials)