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Microsoft Excel LibreOffice Calc

FedEx Corp. (NYSE:FDX)

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Analysis of Solvency Ratios

Beginner level

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)

FedEx Corp., solvency ratios

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Debt Ratios
Debt to equity
Debt to capital
Debt to assets
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. FedEx Corp.’s debt to equity ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. FedEx Corp.’s debt to capital ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. FedEx Corp.’s debt to assets ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. FedEx Corp.’s financial leverage ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. FedEx Corp.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. FedEx Corp.’s fixed charge coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Equity

FedEx Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
 
Common stockholders’ investment
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
CSX Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Equity, Sector
Industrial Transportation
Debt to Equity, Industry
Industrials

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

1 2019 Calculation
Debt to equity = Total debt ÷ Common stockholders’ investment
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. FedEx Corp.’s debt to equity ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Debt to Capital

FedEx Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
Common stockholders’ investment
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
CSX Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Capital, Sector
Industrial Transportation
Debt to Capital, Industry
Industrials

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. FedEx Corp.’s debt to capital ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Debt to Assets

FedEx Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, less current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
CSX Corp.
Union Pacific Corp.
United Parcel Service Inc.
Debt to Assets, Sector
Industrial Transportation
Debt to Assets, Industry
Industrials

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. FedEx Corp.’s debt to assets ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Financial Leverage

FedEx Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Selected Financial Data (US$ in millions)
Total assets
Common stockholders’ investment
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
CSX Corp.
Union Pacific Corp.
United Parcel Service Inc.
Financial Leverage, Sector
Industrial Transportation
Financial Leverage, Industry
Industrials

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

1 2019 Calculation
Financial leverage = Total assets ÷ Common stockholders’ investment
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. FedEx Corp.’s financial leverage ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.

Interest Coverage

FedEx Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Selected Financial Data (US$ in millions)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
CSX Corp.
Union Pacific Corp.
United Parcel Service Inc.
Interest Coverage, Sector
Industrial Transportation
Interest Coverage, Industry
Industrials

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. FedEx Corp.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Fixed Charge Coverage

FedEx Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Selected Financial Data (US$ in millions)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Rent expense under operating leases, minimum rentals
Earnings before fixed charges and tax
 
Interest expense
Rent expense under operating leases, minimum rentals
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
CSX Corp.
Union Pacific Corp.
United Parcel Service Inc.
Fixed Charge Coverage, Sector
Industrial Transportation
Fixed Charge Coverage, Industry
Industrials

Based on: 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. FedEx Corp.’s fixed charge coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.