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FedEx Corp. (FDX)

Long-term (Investment) Activity Analysis

Difficulty: Beginner

  • Annual Data
  • Quarterly Data

    • Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

    Ratios (Summary)

    FedEx Corp., long-term (investment) activity ratios

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    May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
    Net fixed asset turnover 2.32 2.32 2.07 2.27 2.33 2.40
    Total asset turnover 1.25 1.24 1.09 1.28 1.38 1.32
    Equity turnover 3.37 3.75 3.65 3.17 2.98 2.55

    Source: Based on data from FedEx Corp. Annual Reports

    Ratio Description The company
    Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. FedEx Corp.'s net fixed asset turnover improved from 2016 to 2017 and from 2017 to 2018.
    Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp.'s total asset turnover improved from 2016 to 2017 and from 2017 to 2018.
    Equity turnover An activity ratio calculated as total revenue divided by shareholders' equity. FedEx Corp.'s equity turnover improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

    Net Fixed Asset Turnover

    FedEx Corp., net fixed asset turnover calculation, comparison to benchmarks

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    May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
    Selected Financial Data (USD $ in millions)
    Revenues 65,450  60,319  50,365  47,453  45,567  44,287 
    Net property and equipment 28,154  25,981  24,284  20,875  19,550  18,484 
    Ratio
    Net fixed asset turnover1 2.32 2.32 2.07 2.27 2.33 2.40
    Benchmarks
    Net Fixed Asset Turnover, Competitors
    CSX Corp. – 0.36 0.36 0.39 0.44 0.44
    Union Pacific Corp. – 0.41 0.40 0.45 0.52 0.50
    United Parcel Service Inc. – 2.98 3.24 3.18 3.19 3.09
    Net Fixed Asset Turnover, Sector
    Industrial Transportation – 1.21 1.14 1.18 1.25 1.24
    Net Fixed Asset Turnover, Industry
    Industrials – 2.93 2.90 2.97 2.98 2.94

    Source: Based on data from FedEx Corp. Annual Reports

    2018 Calculations

    1 Net fixed asset turnover = Revenues ÷ Net property and equipment
    = 65,450 ÷ 28,154 = 2.32

    Ratio Description The company
    Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. FedEx Corp.'s net fixed asset turnover improved from 2016 to 2017 and from 2017 to 2018.

    Total Asset Turnover

    FedEx Corp., total asset turnover calculation, comparison to benchmarks

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    May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
    Selected Financial Data (USD $ in millions)
    Revenues 65,450  60,319  50,365  47,453  45,567  44,287 
    Total assets 52,330  48,552  46,064  37,069  33,070  33,567 
    Ratio
    Total asset turnover1 1.25 1.24 1.09 1.28 1.38 1.32
    Benchmarks
    Total Asset Turnover, Competitors
    CSX Corp. – 0.32 0.31 0.34 0.38 0.38
    Union Pacific Corp. – 0.37 0.36 0.40 0.46 0.44
    United Parcel Service Inc. – 1.45 1.51 1.52 1.64 1.53
    Total Asset Turnover, Sector
    Industrial Transportation – 0.85 0.80 0.84 0.91 0.88
    Total Asset Turnover, Industry
    Industrials – 0.63 0.62 0.58 0.53 0.52

    Source: Based on data from FedEx Corp. Annual Reports

    2018 Calculations

    1 Total asset turnover = Revenues ÷ Total assets
    = 65,450 ÷ 52,330 = 1.25

    Ratio Description The company
    Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp.'s total asset turnover improved from 2016 to 2017 and from 2017 to 2018.

    Equity Turnover

    FedEx Corp., equity turnover calculation, comparison to benchmarks

    Microsoft Excel LibreOffice Calc
    May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
    Selected Financial Data (USD $ in millions)
    Revenues 65,450  60,319  50,365  47,453  45,567  44,287 
    Common stockholders' investment 19,416  16,073  13,784  14,993  15,277  17,398 
    Ratio
    Equity turnover1 3.37 3.75 3.65 3.17 2.98 2.55
    Benchmarks
    Equity Turnover, Competitors
    CSX Corp. – 0.78 0.95 1.01 1.14 1.15
    Union Pacific Corp. – 0.85 1.00 1.05 1.13 1.03
    United Parcel Service Inc. – 65.87 150.39 23.63 27.20 8.56
    Equity Turnover, Sector
    Industrial Transportation – 2.80 3.11 2.80 2.82 2.41
    Equity Turnover, Industry
    Industrials – 2.81 2.72 2.41 2.15 1.90

    Source: Based on data from FedEx Corp. Annual Reports

    2018 Calculations

    1 Equity turnover = Revenues ÷ Common stockholders' investment
    = 65,450 ÷ 19,416 = 3.37

    Ratio Description The company
    Equity turnover An activity ratio calculated as total revenue divided by shareholders' equity. FedEx Corp.'s equity turnover improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.