Price to Earnings (P/E)
since 2005
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FedEx Corp. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
FedEx Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 21, 2025 | = | ÷ | = | ÷ | |||||||
| Jul 15, 2024 | = | ÷ | = | ÷ | |||||||
| Jul 17, 2023 | = | ÷ | = | ÷ | |||||||
| Jul 18, 2022 | = | ÷ | = | ÷ | |||||||
| Jul 19, 2021 | = | ÷ | = | ÷ | |||||||
| Jul 20, 2020 | = | ÷ | = | ÷ | |||||||
| Jul 16, 2019 | = | ÷ | = | ÷ | |||||||
| Jul 16, 2018 | = | ÷ | = | ÷ | |||||||
| Jul 17, 2017 | = | ÷ | = | ÷ | |||||||
| Jul 18, 2016 | = | ÷ | = | ÷ | |||||||
| Jul 14, 2015 | = | ÷ | = | ÷ | |||||||
| Jul 14, 2014 | = | ÷ | = | ÷ | |||||||
| Jul 15, 2013 | = | ÷ | = | ÷ | |||||||
| Jul 16, 2012 | = | ÷ | = | ÷ | |||||||
| Jul 12, 2011 | = | ÷ | = | ÷ | |||||||
| Jul 15, 2010 | = | ÷ | = | ÷ | |||||||
| Jul 15, 2009 | = | ÷ | = | ÷ | |||||||
| Jul 16, 2008 | = | ÷ | = | ÷ | |||||||
| Jul 13, 2007 | = | ÷ | = | ÷ | |||||||
| Jul 14, 2006 | = | ÷ | = | ÷ | |||||||
| Jul 14, 2005 | = | ÷ | = | ÷ |
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), 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of FedEx Corp. Annual Report.
The share price of the company exhibited notable fluctuations over the period analyzed. Starting at $83.40 in mid-2005, the price peaked briefly above $117 by mid-2007, followed by a significant decline to $57.36 in mid-2009, reflecting a pronounced downward trend possibly linked to external economic factors affecting the market. A recovery phase ensued, with the share price ascending steadily to reach $171.24 by mid-2015. Despite some volatility, the price continued to trend upward overall, culminating in a peak near $305.02 by mid-2024, before declining to $225.73 in mid-2025. This pattern highlights periods of both volatility and growth within the observed timespan.
Earnings per share (EPS) displayed considerable variability across the years. Beginning at $4.79 in mid-2005, EPS increased to $6.53 by mid-2007 before dropping sharply to $0.31 in mid-2009, indicating a substantial erosion in profitability during that period. Subsequent years saw a recovery, with EPS rising to $11.17 by mid-2017, then sharply increasing to a high of $19.57 in mid-2021. Although there was a moderate decline afterwards, EPS remained elevated, settling around $17.35 in mid-2025. The trajectory suggests resilience and growth in earnings capacity, despite intermittent downturns.
The price-to-earnings (P/E) ratio showed significant volatility, reflecting the interplay between share price and earnings fluctuations. The ratio started at 17.42 in 2005, remaining relatively stable until 2008, when it spiked dramatically to 182.81 in mid-2009. This extreme value correlates with the sharp EPS drop during the same period, indicating the market valued the shares highly relative to earnings. Afterward, the P/E ratio generally trended downward, with intermittent peaks, including a notable spike to 82 in mid-2019, again coinciding with a dip in EPS. By mid-2025, the ratio declined to 13.01, suggesting a more balanced valuation relative to earnings. Overall, P/E fluctuations point to varying investor sentiment and earnings performance influences.
- Share Price Trend
- Initial rise followed by sharp decline during the late 2000s, with recovery and growth through the 2010s, reaching a peak in the mid-2020s before a recent decline.
- Earnings per Share (EPS) Trend
- Significant EPS volatility with lows corresponding to share price troughs, pronounced growth in earnings capacity after 2009, maintaining elevated levels thereafter.
- Price-to-Earnings (P/E) Ratio Trend
- High volatility linked to EPS fluctuations, with extreme peaks during periods of low earnings, stabilizing to moderate levels by the mid-2020s.
Comparison to Competitors
FedEx Corp., P/E, long-term trends, comparison to competitors
| FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Jul 21, 2025 | |||||
| Jul 15, 2024 | |||||
| Jul 17, 2023 | |||||
| Jul 18, 2022 | |||||
| Jul 19, 2021 | |||||
| Jul 20, 2020 | |||||
| Jul 16, 2019 | |||||
| Jul 16, 2018 | |||||
| Jul 17, 2017 | |||||
| Jul 18, 2016 | |||||
| Jul 14, 2015 | |||||
| Jul 14, 2014 | |||||
| Jul 15, 2013 | |||||
| Jul 16, 2012 | |||||
| Jul 12, 2011 | |||||
| Jul 15, 2010 | |||||
| Jul 15, 2009 | |||||
| Jul 16, 2008 | |||||
| Jul 13, 2007 | |||||
| Jul 14, 2006 | |||||
| Jul 14, 2005 |
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), 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., P/E, long-term trends, comparison to sector (transportation)
| FedEx Corp. | Transportation | |
|---|---|---|
| Jul 21, 2025 | ||
| Jul 15, 2024 | ||
| Jul 17, 2023 | ||
| Jul 18, 2022 | ||
| Jul 19, 2021 | ||
| Jul 20, 2020 | ||
| Jul 16, 2019 | ||
| Jul 16, 2018 | ||
| Jul 17, 2017 | ||
| Jul 18, 2016 | ||
| Jul 14, 2015 | ||
| Jul 14, 2014 | ||
| Jul 15, 2013 | ||
| Jul 16, 2012 | ||
| Jul 12, 2011 | ||
| Jul 15, 2010 | ||
| Jul 15, 2009 | ||
| Jul 16, 2008 | ||
| Jul 13, 2007 | ||
| Jul 14, 2006 | ||
| Jul 14, 2005 |
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), 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., P/E, long-term trends, comparison to industry (industrials)
| FedEx Corp. | Industrials | |
|---|---|---|
| Jul 21, 2025 | ||
| Jul 15, 2024 | ||
| Jul 17, 2023 | ||
| Jul 18, 2022 | ||
| Jul 19, 2021 | ||
| Jul 20, 2020 | ||
| Jul 16, 2019 | ||
| Jul 16, 2018 | ||
| Jul 17, 2017 | ||
| Jul 18, 2016 | ||
| Jul 14, 2015 | ||
| Jul 14, 2014 | ||
| Jul 15, 2013 | ||
| Jul 16, 2012 | ||
| Jul 12, 2011 | ||
| Jul 15, 2010 | ||
| Jul 15, 2009 | ||
| Jul 16, 2008 | ||
| Jul 13, 2007 | ||
| Jul 14, 2006 | ||
| Jul 14, 2005 |
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), 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).