Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

FedEx Corp. (NYSE:FDX)

Analysis of Long-term (Investment) Activity Ratios

Beginner level


Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015
Net fixed asset turnover 2.06 2.29 2.32 2.32 2.07 2.27
Net fixed asset turnover (including operating lease, right-of-use asset) 1.46 2.29 2.32 2.32 2.07 2.27
Total asset turnover 0.94 1.28 1.25 1.24 1.09 1.28
Equity turnover 3.78 3.92 3.37 3.75 3.65 3.17

Based on: 10-K (filing date: 2020-07-20), 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).

Long-term activity 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 ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). FedEx Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2018 to 2019 and from 2019 to 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp.’s total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. FedEx Corp.’s equity turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Net Fixed Asset Turnover

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

Microsoft Excel LibreOffice Calc
May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015
Selected Financial Data (US$ in millions)
Revenue 69,217  69,693  65,450  60,319  50,365  47,453 
Net property and equipment 33,608  30,429  28,154  25,981  24,284  20,875 
Long-term Activity Ratio
Net fixed asset turnover1 2.06 2.29 2.32 2.32 2.07 2.27
Benchmarks
Net Fixed Asset Turnover, Competitors2
CSX Corp. 0.37 0.38 0.36 0.36 0.39
Norfolk Southern Corp. 0.36 0.37 0.35 0.33 0.36
Union Pacific Corp. 0.40 0.43 0.41 0.40 0.45
United Parcel Service Inc. 2.43 2.70 2.98 3.24 3.18
Net Fixed Asset Turnover, Sector
Industrial Transportation 1.06 1.08 1.05 0.99 1.02
Net Fixed Asset Turnover, Industry
Industrials 2.59 2.70 2.57 2.54 2.57

Based on: 10-K (filing date: 2020-07-20), 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).

1 2020 Calculation
Net fixed asset turnover = Revenue ÷ Net property and equipment
= 69,217 ÷ 33,608 = 2.06

2 Click competitor name to see calculations.

Long-term activity 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 ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

FedEx Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015
Selected Financial Data (US$ in millions)
Revenue 69,217  69,693  65,450  60,319  50,365  47,453 
 
Net property and equipment 33,608  30,429  28,154  25,981  24,284  20,875 
Operating lease right-of-use assets, net 13,917  —  —  —  —  — 
Net property and equipment (including operating lease, right-of-use asset) 47,525  30,429  28,154  25,981  24,284  20,875 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.46 2.29 2.32 2.32 2.07 2.27
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
CSX Corp. 0.37 0.38 0.36 0.36 0.39
Norfolk Southern Corp. 0.35 0.37 0.35 0.33 0.36
Union Pacific Corp. 0.39 0.43 0.41 0.40 0.45
United Parcel Service Inc. 2.22 2.70 2.98 3.24 3.18
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Industrial Transportation 1.02 1.08 1.05 0.99 1.02
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.42 2.70 2.57 2.54 2.57

Based on: 10-K (filing date: 2020-07-20), 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).

1 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Net property and equipment (including operating lease, right-of-use asset)
= 69,217 ÷ 47,525 = 1.46

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). FedEx Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2018 to 2019 and from 2019 to 2020.

Total Asset Turnover

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

Microsoft Excel LibreOffice Calc
May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015
Selected Financial Data (US$ in millions)
Revenue 69,217  69,693  65,450  60,319  50,365  47,453 
Total assets 73,537  54,403  52,330  48,552  46,064  37,069 
Long-term Activity Ratio
Total asset turnover1 0.94 1.28 1.25 1.24 1.09 1.28
Benchmarks
Total Asset Turnover, Competitors2
CSX Corp. 0.31 0.33 0.32 0.31 0.34
Norfolk Southern Corp. 0.30 0.32 0.30 0.28 0.31
Union Pacific Corp. 0.35 0.39 0.37 0.36 0.40
United Parcel Service Inc. 1.28 1.44 1.45 1.51 1.52
Total Asset Turnover, Sector
Industrial Transportation 0.75 0.78 0.76 0.72 0.75
Total Asset Turnover, Industry
Industrials 0.63 0.67 0.63 0.62 0.57

Based on: 10-K (filing date: 2020-07-20), 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).

1 2020 Calculation
Total asset turnover = Revenue ÷ Total assets
= 69,217 ÷ 73,537 = 0.94

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp.’s total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Equity Turnover

FedEx Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015
Selected Financial Data (US$ in millions)
Revenue 69,217  69,693  65,450  60,319  50,365  47,453 
Common stockholders’ investment 18,295  17,757  19,416  16,073  13,784  14,993 
Long-term Activity Ratio
Equity turnover1 3.78 3.92 3.37 3.75 3.65 3.17
Benchmarks
Equity Turnover, Competitors2
CSX Corp. 1.01 0.98 0.78 0.95 1.01
Norfolk Southern Corp. 0.74 0.75 0.64 0.80 0.86
Union Pacific Corp. 1.20 1.12 0.85 1.00 1.05
United Parcel Service Inc. 22.68 23.79 65.87 150.39 23.63
Equity Turnover, Sector
Industrial Transportation 2.85 2.60 2.32 2.61 2.42
Equity Turnover, Industry
Industrials 3.46 3.55 2.96 2.88 2.51

Based on: 10-K (filing date: 2020-07-20), 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).

1 2020 Calculation
Equity turnover = Revenue ÷ Common stockholders’ investment
= 69,217 ÷ 18,295 = 3.78

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. FedEx Corp.’s equity turnover ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.