Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

Analysis of Liquidity Ratios 

Microsoft Excel

Liquidity Ratios (Summary)

FedEx Corp., liquidity ratios

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
Current ratio 1.37 1.43 1.51 1.58 1.45 1.39
Quick ratio 1.25 1.31 1.40 1.45 1.27 1.22
Cash ratio 0.50 0.48 0.52 0.47 0.26 0.34

Based on: 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).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. FedEx Corp. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. FedEx Corp. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. FedEx Corp. cash ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Current Ratio

FedEx Corp., current ratio calculation, comparison to benchmarks

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
Selected Financial Data (US$ in millions)
Current assets 18,610 20,365 20,580 16,383 13,086 13,341
Current liabilities 13,586 14,274 13,660 10,344 9,013 9,627
Liquidity Ratio
Current ratio1 1.37 1.43 1.51 1.58 1.45 1.39
Benchmarks
Current Ratio, Competitors2
Uber Technologies Inc. 1.19 1.04 0.98 1.44 2.47
Union Pacific Corp. 0.81 0.72 0.62 1.01 0.79
United Parcel Service Inc. 1.10 1.22 1.42 1.19 1.11
Current Ratio, Sector
Transportation 1.17 1.19 1.26 1.32 1.38
Current Ratio, Industry
Industrials 1.17 1.21 1.32 1.43 1.19

Based on: 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).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 18,610 ÷ 13,586 = 1.37

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. FedEx Corp. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Quick Ratio

FedEx Corp., quick ratio calculation, comparison to benchmarks

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
Selected Financial Data (US$ in millions)
Cash and cash equivalents 6,856 6,897 7,087 4,881 2,319 3,265
Receivables, less allowances 10,188 11,863 12,069 10,102 9,116 8,481
Total quick assets 17,044 18,760 19,156 14,983 11,435 11,746
 
Current liabilities 13,586 14,274 13,660 10,344 9,013 9,627
Liquidity Ratio
Quick ratio1 1.25 1.31 1.40 1.45 1.27 1.22
Benchmarks
Quick Ratio, Competitors2
Uber Technologies Inc. 1.02 0.88 0.82 1.19 2.24
Union Pacific Corp. 0.61 0.52 0.47 0.79 0.56
United Parcel Service Inc. 0.98 1.11 1.32 1.00 0.99
Quick Ratio, Sector
Transportation 1.03 1.06 1.14 1.13 1.21
Quick Ratio, Industry
Industrials 0.65 0.70 0.79 0.88 0.71

Based on: 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).

1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 17,044 ÷ 13,586 = 1.25

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. FedEx Corp. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Cash Ratio

FedEx Corp., cash ratio calculation, comparison to benchmarks

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
Selected Financial Data (US$ in millions)
Cash and cash equivalents 6,856 6,897 7,087 4,881 2,319 3,265
Total cash assets 6,856 6,897 7,087 4,881 2,319 3,265
 
Current liabilities 13,586 14,274 13,660 10,344 9,013 9,627
Liquidity Ratio
Cash ratio1 0.50 0.48 0.52 0.47 0.26 0.34
Benchmarks
Cash Ratio, Competitors2
Uber Technologies Inc. 0.66 0.56 0.55 1.03 2.02
Union Pacific Corp. 0.21 0.18 0.17 0.43 0.19
United Parcel Service Inc. 0.34 0.42 0.60 0.37 0.37
Cash Ratio, Sector
Transportation 0.44 0.44 0.51 0.52 0.59
Cash Ratio, Industry
Industrials 0.26 0.29 0.36 0.46 0.34

Based on: 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).

1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 6,856 ÷ 13,586 = 0.50

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. FedEx Corp. cash ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.