FedEx Corp. (FDX)

Long-term Debt and Solvency Analysis
Quarterly Data

Difficulty: Beginner

Annual Data

Quarterly Data

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

FedEx Corp., debt and solvency ratios (quarterly data)

		May 31, 2018	Feb 28, 2018	Nov 30, 2017	Aug 31, 2017	May 31, 2017	Feb 28, 2017	Nov 30, 2016	Aug 31, 2016	May 31, 2016	Feb 29, 2016	Nov 30, 2015	Aug 31, 2015	May 31, 2015	Feb 28, 2015	Nov 30, 2014	Aug 31, 2014	May 31, 2014	Feb 28, 2014	Nov 30, 2013	Aug 31, 2013	May 31, 2013	Feb 28, 2013	Nov 30, 2012	Aug 31, 2012
	Debt to equity
	Debt to capital

Source: Based on data from FedEx Corp. Quarterly and Annual Reports

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 deteriorated from Q2 2018 to Q3 2018 but then improved from Q3 2018 to Q4 2018 exceeding Q2 2018 level.
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 deteriorated from Q2 2018 to Q3 2018 but then improved from Q3 2018 to Q4 2018 exceeding Q2 2018 level.

FedEx Corp., debt to equity calculation (quarterly data)

		May 31, 2018	Feb 28, 2018	Nov 30, 2017	Aug 31, 2017	May 31, 2017	Feb 28, 2017	Nov 30, 2016	Aug 31, 2016	May 31, 2016	Feb 29, 2016	Nov 30, 2015	Aug 31, 2015	May 31, 2015	Feb 28, 2015	Nov 30, 2014	Aug 31, 2014	May 31, 2014	Feb 28, 2014	Nov 30, 2013	Aug 31, 2013	May 31, 2013	Feb 28, 2013	Nov 30, 2012	Aug 31, 2012
	Selected Financial Data (USD $ in millions)
	Short-term borrowings
	Current portion of long-term debt
	Long-term debt, less current portion
	Total debt
	Common stockholders' investment
	Ratio
	Debt to equity¹

Source: Based on data from FedEx Corp. Quarterly and Annual Reports

Q4 2018 Calculations

¹ Debt to equity = Total debt ÷ Common stockholders' investment
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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 deteriorated from Q2 2018 to Q3 2018 but then improved from Q3 2018 to Q4 2018 exceeding Q2 2018 level.

FedEx Corp., debt to capital calculation (quarterly data)

		May 31, 2018	Feb 28, 2018	Nov 30, 2017	Aug 31, 2017	May 31, 2017	Feb 28, 2017	Nov 30, 2016	Aug 31, 2016	May 31, 2016	Feb 29, 2016	Nov 30, 2015	Aug 31, 2015	May 31, 2015	Feb 28, 2015	Nov 30, 2014	Aug 31, 2014	May 31, 2014	Feb 28, 2014	Nov 30, 2013	Aug 31, 2013	May 31, 2013	Feb 28, 2013	Nov 30, 2012	Aug 31, 2012
	Selected Financial Data (USD $ in millions)
	Short-term borrowings
	Current portion of long-term debt
	Long-term debt, less current portion
	Total debt
	Common stockholders' investment
	Total capital
	Ratio
	Debt to capital¹

Source: Based on data from FedEx Corp. Quarterly and Annual Reports

Q4 2018 Calculations

¹ Debt to capital = Total debt ÷ Total capital
= hidden ÷ hidden = hidden

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 deteriorated from Q2 2018 to Q3 2018 but then improved from Q3 2018 to Q4 2018 exceeding Q2 2018 level.

	FedEx Corp.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

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Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality