Price to Sales (P/S)
since 2005
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- 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/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenue1 (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.
- Share Price Trends
- The share price exhibited significant volatility over the period. Initially, it rose from $83.4 in mid-2005 to a peak of $117.25 in 2007, followed by a sharp decline to $57.36 in 2009, reflecting adverse conditions. Subsequently, there was a recovery and upward movement, with prices reaching $230.18 by mid-2018. The price then declined again to $169.79 in 2019, remained somewhat stable near $164.13 in 2020, before surging to a peak of $305.02 in 2024. The latest data show a correction to $225.73 in 2025.
- Sales per Share Development
- Sales per share demonstrated a consistent upward trajectory throughout the entire period. Starting at $97.03 in 2005, sales growth was relatively steady with only minor fluctuations, reaching $159.65 by mid-2014 and continuing to increase markedly to $372.73 by mid-2025. The growth implies an improvement in the company's revenue generation attributable to each share, indicating operational expansion and possibly enhanced market demand.
- Price-to-Sales Ratio (P/S) Analysis
- The P/S ratio experienced considerable fluctuations corresponding to changes in both share price and sales per share. The ratio started at 0.86 in 2005, peaked around 1.03 in 2006-2007, reflecting a high market valuation relative to sales at that time. It declined sharply during the 2008-2009 financial crisis, reaching lows of 0.5 and 0.62, indicative of depressed share prices relative to sales. Thereafter, fluctuations in the P/S ratio occurred without a clear upward or downward trend, generally ranging between 0.6 and 1.0. Notably, despite consistent sales growth, the ratio did not show sustained increase, suggesting market valuation did not rise proportionally with sales, possibly due to market concerns or increased risk perception.
- Key Insights
- The data indicate robust sales growth per share over the two-decade span, reflecting strong business performance and revenue expansion. However, the share price has been highly volatile and driven by external market factors, including economic downturns and recoveries, which impacted investor sentiment and valuations. The fluctuating and mostly below-one P/S ratio in recent years may suggest that the stock was undervalued relative to sales at times or that investors maintained cautious outlooks despite growing sales. Overall, while operational growth is evident, market valuation has not consistently mirrored this trend, highlighting a potentially complex investor perception environment.
Comparison to Competitors
FedEx Corp., P/S, 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/S, 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/S, 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).