Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

FedEx Corp., debt to equity, 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


Long-term Debt Trends
The long-term debt amount displayed fluctuations over the period. Initially, there was a decline from 2796 million USD in 2005 to 1667 million USD in 2012, indicating a reduction in debt load. However, from 2012 onwards, there was a significant increase, peaking at 22003 million USD in 2020. After 2020, the debt slightly decreased but remained elevated above 20000 million USD through to 2024.
Common Stockholders' Investment Trends
The common stockholders’ investment showed an overall upward trajectory across the years. Starting at 9588 million USD in 2005, it generally increased with some periods of stabilization or minor decline, such as between 2013 and 2016. From 2016 onwards, the investment rose consistently, reaching 27582 million USD in 2024, suggesting growth in shareholder equity over the long term.
Debt to Equity Ratio Analysis
The debt to equity ratio experienced notable variation. Initially, it was relatively low, ranging from 0.14 to 0.29 between 2005 and 2012, reflecting a conservative leverage position. A sharp increase occurred in 2014 and 2015, where the ratio rose to around 1.0, signaling a doubling of debt relative to equity. Post 2015, the ratio slightly declined but remained higher than earlier years, stabilizing around 0.73 in 2024. This indicates that while leverage intensified significantly during the middle of the period, it has somewhat normalized in recent years.
Overall Financial Leverage Insights
The data reveals a shift from a lower leverage structure in the early years towards a more leveraged position starting in the mid-2010s. The rise in long-term debt outpaced the growth in equity during that time, contributing to elevated debt-to-equity ratios. Nevertheless, the later years show a modest reduction in leverage, possibly reflecting efforts to deleverage or manage financial risk.
Summary
In summary, the company experienced a strategic increase in long-term borrowing from 2012 to 2020, coinciding with substantial growth in stockholders’ equity though at a slower pace relative to debt. The debt to equity ratio confirms a period of increased financial leverage, followed by stabilization. The sustained increase in shareholders’ investment alongside significant debt suggests balanced capital structuring, though with heightened leverage compared to earlier years.

Comparison to Competitors

FedEx Corp., debt to equity, 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)