Microsoft Excel LibreOffice Calc

FedEx Corp. (FDX)

Analysis of Long-term (Investment) Activity Ratios

Difficulty: Beginner

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

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Net fixed asset turnover 2.29 2.32 2.32 2.07 2.27 2.33
Total asset turnover 1.28 1.25 1.24 1.09 1.28 1.38
Equity turnover 3.92 3.37 3.75 3.65 3.17 2.98

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).

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 improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp.’s total asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. FedEx Corp.’s equity turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Net Fixed Asset Turnover

FedEx Corp., net fixed asset turnover 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)
Revenues 69,693  65,450  60,319  50,365  47,453  45,567 
Net property and equipment 30,429  28,154  25,981  24,284  20,875  19,550 
Long-term Activity Ratio
Net fixed asset turnover1 2.29 2.32 2.32 2.07 2.27 2.33
Benchmarks
Net Fixed Asset Turnover, Competitors2
CSX Corp. — 0.38 0.36 0.36 0.39 0.44
Union Pacific Corp. — 0.43 0.41 0.40 0.45 0.52
United Parcel Service Inc. — 2.70 2.98 3.24 3.18 3.19
Net Fixed Asset Turnover, Sector
Industrial Transportation — 1.24 1.21 1.14 1.18 1.25
Net Fixed Asset Turnover, Industry
Industrials — 3.06 2.93 2.91 2.97 2.99

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
Net fixed asset turnover = Revenues ÷ Net property and equipment
= 69,693 ÷ 30,429 = 2.29

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 improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Total Asset Turnover

FedEx Corp., total asset turnover 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)
Revenues 69,693  65,450  60,319  50,365  47,453  45,567 
Total assets 54,403  52,330  48,552  46,064  37,069  33,070 
Long-term Activity Ratio
Total asset turnover1 1.28 1.25 1.24 1.09 1.28 1.38
Benchmarks
Total Asset Turnover, Competitors2
CSX Corp. — 0.33 0.32 0.31 0.34 0.38
Union Pacific Corp. — 0.39 0.37 0.36 0.40 0.46
United Parcel Service Inc. — 1.44 1.45 1.51 1.52 1.64
Total Asset Turnover, Sector
Industrial Transportation — 0.87 0.85 0.80 0.84 0.91
Total Asset Turnover, Industry
Industrials — 0.67 0.63 0.62 0.58 0.53

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
Total asset turnover = Revenues ÷ Total assets
= 69,693 ÷ 54,403 = 1.28

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 2017 to 2018 and from 2018 to 2019.

Equity Turnover

FedEx Corp., equity turnover 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)
Revenues 69,693  65,450  60,319  50,365  47,453  45,567 
Common stockholders’ investment 17,757  19,416  16,073  13,784  14,993  15,277 
Long-term Activity Ratio
Equity turnover1 3.92 3.37 3.75 3.65 3.17 2.98
Benchmarks
Equity Turnover, Competitors2
CSX Corp. — 0.98 0.78 0.95 1.01 1.14
Union Pacific Corp. — 1.12 0.85 1.00 1.05 1.13
United Parcel Service Inc. — 23.79 65.87 150.39 23.63 27.20
Equity Turnover, Sector
Industrial Transportation — 3.11 2.80 3.11 2.80 2.82
Equity Turnover, Industry
Industrials — 3.28 2.81 2.72 2.42 2.15

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
Equity turnover = Revenues ÷ Common stockholders’ investment
= 69,693 ÷ 17,757 = 3.92

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 deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.