FedEx Corp. (NYSE:FDX)

The data reveals several notable trends in the financial performance and market valuation over the observed period.

Share Price

The share price exhibited considerable volatility, with an initial increase from 83.4 in mid-2005 to a peak of 117.25 by mid-2007. This was followed by a significant decline during the 2008-2009 financial crisis, reaching a low of 57.36 in mid-2009. Subsequently, there was a recovery phase marked by fluctuations but an overall upward trajectory, culminating in a peak of 305.02 in mid-2024. The final data point shows a decrease to 225.73 in mid-2025, indicating some recent downward pressure on the stock price.

Operating Profit per Share

The operating profit per share generally trended upward across the timespan, though it experienced a sharp decline from 10.61 in mid-2007 to 2.39 in mid-2009, mirroring the period of financial stress seen in the share price. Recovery was relatively quick, with values rising to 18.78 by mid-2017 and plateauing near this level through to mid-2019. After a temporary dip in 2020, the operating profit per share reached a record high of 24.03 in mid-2021 before slightly decreasing to 22.12 by mid-2025. This pattern suggests resilience and strong operational performance in recent years.

Price to Operating Profit (P/OP) Ratio

The P/OP ratio demonstrates variability reflective of changes in both share price and operating profit. The ratio started near 10.21 in mid-2005, rose sharply above 23 during the low profit phase in 2009, indicating high market valuation relative to operating profit. Post-2009, the P/OP ratio fluctuated mostly between 9 and 13, signaling a more balanced valuation relative to earnings. Notably, during mid-2021, the ratio fell to 9.07, coinciding with peak operating profit and elevated share price, suggesting attractive valuation levels at that point. The ratio ended at 10.21 in mid-2025, reflecting normalized valuation metrics.

Overall, the company showed resilience through economic downturns with operating profitability recovering well after periods of strain. Market valuation relative to earnings remained within a moderate range following the crisis period, suggesting investor confidence aligned with underlying profitability trends. The fluctuations in share price, particularly in recent years, highlight sensitivity to external factors but an underlying strength in operational outcomes.