Stock Analysis on Net
Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 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
Net fixed asset turnover 2.09 2.06 2.09 2.13 2.20 2.29 2.32 2.34 2.34 2.32 2.31 2.28 2.32 2.32 2.25 2.18 2.13 2.07 2.19 2.18 2.24 2.27
Net fixed asset turnover (including operating lease, right-of-use asset) 1.47 1.46 1.47 1.49 1.53 2.29 2.32 2.34 2.34 2.32 2.31 2.28 2.32 2.32 2.25 2.18 2.13 2.07 2.19 2.18 2.24 2.27
Total asset turnover 0.92 0.94 1.00 0.99 1.02 1.28 1.27 1.29 1.29 1.25 1.23 1.24 1.24 1.24 1.23 1.19 1.16 1.09 1.31 1.27 1.29 1.28
Equity turnover 3.67 3.78 3.70 3.71 3.84 3.92 3.48 3.56 3.51 3.37 3.38 3.65 3.67 3.75 3.79 3.80 3.73 3.65 3.46 3.24 3.14 3.17

Based on: 10-Q (filing date: 2020-09-15), 10-K (filing date: 2020-07-20), 10-Q (filing date: 2020-03-17), 10-Q (filing date: 2019-12-17), 10-Q (filing date: 2019-09-17), 10-K (filing date: 2019-07-16), 10-Q (filing date: 2019-03-19), 10-Q (filing date: 2018-12-18), 10-Q (filing date: 2018-09-17), 10-K (filing date: 2018-07-16), 10-Q (filing date: 2018-03-21), 10-Q (filing date: 2017-12-20), 10-Q (filing date: 2017-09-20), 10-K (filing date: 2017-07-17), 10-Q (filing date: 2017-03-22), 10-Q (filing date: 2016-12-21), 10-Q (filing date: 2016-09-21), 10-K (filing date: 2016-07-18), 10-Q (filing date: 2016-03-17), 10-Q (filing date: 2015-12-17), 10-Q (filing date: 2015-09-17), 10-K (filing date: 2015-07-14), 10-Q (filing date: 2015-03-19), 10-Q (filing date: 2014-12-18), 10-Q (filing date: 2014-09-18).

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 Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 not reaching Q3 2020 level.
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 Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 not reaching Q3 2020 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. FedEx Corp.’s total asset turnover ratio deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. FedEx Corp.’s equity turnover ratio improved from Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.

Net Fixed Asset Turnover

FedEx Corp., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 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
Selected Financial Data (US$ in millions)
Revenue 19,321  17,358  17,487  17,324  17,048  17,807  17,010  17,824  17,052  17,314  16,526  16,313  15,297  15,728  14,997  14,931  14,663  12,979  12,654  12,453  12,279  12,114  11,716  11,939  11,684 
Net property and equipment 34,262  33,608  33,306  32,408  31,610  30,429  29,768  29,387  28,779  28,154  27,697  27,290  26,235  25,981  25,613  25,307  24,804  24,284  22,552  22,278  21,483  20,875  20,425  19,893  19,424 
Long-term Activity Ratio
Net fixed asset turnover1 2.09 2.06 2.09 2.13 2.20 2.29 2.32 2.34 2.34 2.32 2.31 2.28 2.32 2.32 2.25 2.18 2.13 2.07 2.19 2.18 2.24 2.27
Benchmarks
Net Fixed Asset Turnover, Competitors2
CSX Corp. 0.33 0.34 0.37 0.37 0.38 0.39 0.39 0.38 0.38 0.36 0.36 0.36 0.37 0.37 0.36 0.36 0.35 0.36 0.38 0.39
Norfolk Southern Corp. 0.32 0.33 0.36 0.36 0.37 0.37 0.37 0.37 0.37 0.36 0.35 0.35 0.34 0.34 0.34 0.33 0.34 0.34 0.36 0.36
Union Pacific Corp. 0.36 0.37 0.40 0.40 0.42 0.43 0.43 0.43 0.43 0.42 0.42 0.41 0.41 0.41 0.40 0.40 0.40 0.41 0.43 0.45
United Parcel Service Inc. 2.46 2.43 2.43 2.52 2.58 2.64 2.70 2.79 2.90 2.91 2.98 3.05 3.17 3.21 3.24 3.25 3.25 3.22 3.18

Based on: 10-Q (filing date: 2020-09-15), 10-K (filing date: 2020-07-20), 10-Q (filing date: 2020-03-17), 10-Q (filing date: 2019-12-17), 10-Q (filing date: 2019-09-17), 10-K (filing date: 2019-07-16), 10-Q (filing date: 2019-03-19), 10-Q (filing date: 2018-12-18), 10-Q (filing date: 2018-09-17), 10-K (filing date: 2018-07-16), 10-Q (filing date: 2018-03-21), 10-Q (filing date: 2017-12-20), 10-Q (filing date: 2017-09-20), 10-K (filing date: 2017-07-17), 10-Q (filing date: 2017-03-22), 10-Q (filing date: 2016-12-21), 10-Q (filing date: 2016-09-21), 10-K (filing date: 2016-07-18), 10-Q (filing date: 2016-03-17), 10-Q (filing date: 2015-12-17), 10-Q (filing date: 2015-09-17), 10-K (filing date: 2015-07-14), 10-Q (filing date: 2015-03-19), 10-Q (filing date: 2014-12-18), 10-Q (filing date: 2014-09-18).

1 Q1 2021 Calculation
Net fixed asset turnover = (RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020) ÷ Net property and equipment
= (19,321 + 17,358 + 17,487 + 17,324) ÷ 34,262 = 2.09

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 Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 not reaching Q3 2020 level.

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 (quarterly data)

Microsoft Excel LibreOffice Calc
Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 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
Selected Financial Data (US$ in millions)
Revenue 19,321  17,358  17,487  17,324  17,048  17,807  17,010  17,824  17,052  17,314  16,526  16,313  15,297  15,728  14,997  14,931  14,663  12,979  12,654  12,453  12,279  12,114  11,716  11,939  11,684 
 
Net property and equipment 34,262  33,608  33,306  32,408  31,610  30,429  29,768  29,387  28,779  28,154  27,697  27,290  26,235  25,981  25,613  25,307  24,804  24,284  22,552  22,278  21,483  20,875  20,425  19,893  19,424 
Operating lease right-of-use assets, net 14,496  13,917  13,981  14,097  13,819  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net property and equipment (including operating lease, right-of-use asset) 48,758  47,525  47,287  46,505  45,429  30,429  29,768  29,387  28,779  28,154  27,697  27,290  26,235  25,981  25,613  25,307  24,804  24,284  22,552  22,278  21,483  20,875  20,425  19,893  19,424 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 1.47 1.46 1.47 1.49 1.53 2.29 2.32 2.34 2.34 2.32 2.31 2.28 2.32 2.32 2.25 2.18 2.13 2.07 2.19 2.18 2.24 2.27
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
CSX Corp. 0.32 0.33 0.36 0.37 0.37 0.38 0.38 0.38 0.38 0.36 0.36 0.36 0.37 0.37 0.36 0.36 0.35 0.36 0.38 0.39
Union Pacific Corp. 0.35 0.36 0.39 0.39 0.40 0.41 0.41 0.43 0.43 0.42 0.42 0.41 0.41 0.41 0.40 0.40 0.40 0.41 0.43 0.45
United Parcel Service Inc. 2.25 2.21 2.22 2.32 2.37 2.41 2.70 2.79 2.90 2.91 2.98 3.05 3.17 3.21 3.24 3.25 3.25 3.22 3.18

Based on: 10-Q (filing date: 2020-09-15), 10-K (filing date: 2020-07-20), 10-Q (filing date: 2020-03-17), 10-Q (filing date: 2019-12-17), 10-Q (filing date: 2019-09-17), 10-K (filing date: 2019-07-16), 10-Q (filing date: 2019-03-19), 10-Q (filing date: 2018-12-18), 10-Q (filing date: 2018-09-17), 10-K (filing date: 2018-07-16), 10-Q (filing date: 2018-03-21), 10-Q (filing date: 2017-12-20), 10-Q (filing date: 2017-09-20), 10-K (filing date: 2017-07-17), 10-Q (filing date: 2017-03-22), 10-Q (filing date: 2016-12-21), 10-Q (filing date: 2016-09-21), 10-K (filing date: 2016-07-18), 10-Q (filing date: 2016-03-17), 10-Q (filing date: 2015-12-17), 10-Q (filing date: 2015-09-17), 10-K (filing date: 2015-07-14), 10-Q (filing date: 2015-03-19), 10-Q (filing date: 2014-12-18), 10-Q (filing date: 2014-09-18).

1 Q1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020) ÷ Net property and equipment (including operating lease, right-of-use asset)
= (19,321 + 17,358 + 17,487 + 17,324) ÷ 48,758 = 1.47

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 Q3 2020 to Q4 2020 but then improved from Q4 2020 to Q1 2021 not reaching Q3 2020 level.

Total Asset Turnover

FedEx Corp., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 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
Selected Financial Data (US$ in millions)
Revenue 19,321  17,358  17,487  17,324  17,048  17,807  17,010  17,824  17,052  17,314  16,526  16,313  15,297  15,728  14,997  14,931  14,663  12,979  12,654  12,453  12,279  12,114  11,716  11,939  11,684 
Total assets 77,648  73,537  70,014  69,954  68,452  54,403  54,464  53,289  51,901  52,330  51,851  50,281  49,350  48,552  46,781  46,348  45,575  46,064  37,819  38,371  37,245  37,069  36,108  32,984  32,587 
Long-term Activity Ratio
Total asset turnover1 0.92 0.94 1.00 0.99 1.02 1.28 1.27 1.29 1.29 1.25 1.23 1.24 1.24 1.24 1.23 1.19 1.16 1.09 1.31 1.27 1.29 1.28
Benchmarks
Total Asset Turnover, Competitors2
CSX Corp. 0.27 0.28 0.30 0.31 0.31 0.33 0.32 0.33 0.32 0.31 0.30 0.32 0.33 0.32 0.32 0.31 0.31 0.32 0.33 0.34
Norfolk Southern Corp. 0.26 0.27 0.30 0.30 0.31 0.31 0.31 0.32 0.31 0.31 0.30 0.30 0.30 0.29 0.29 0.28 0.29 0.29 0.31 0.31
Union Pacific Corp. 0.31 0.32 0.35 0.35 0.36 0.37 0.37 0.39 0.38 0.37 0.37 0.37 0.37 0.37 0.36 0.36 0.35 0.37 0.38 0.40
United Parcel Service Inc. 1.25 1.23 1.28 1.38 1.37 1.38 1.44 1.52 1.53 1.52 1.45 1.55 1.58 1.61 1.51 1.57 1.55 1.50 1.52

Based on: 10-Q (filing date: 2020-09-15), 10-K (filing date: 2020-07-20), 10-Q (filing date: 2020-03-17), 10-Q (filing date: 2019-12-17), 10-Q (filing date: 2019-09-17), 10-K (filing date: 2019-07-16), 10-Q (filing date: 2019-03-19), 10-Q (filing date: 2018-12-18), 10-Q (filing date: 2018-09-17), 10-K (filing date: 2018-07-16), 10-Q (filing date: 2018-03-21), 10-Q (filing date: 2017-12-20), 10-Q (filing date: 2017-09-20), 10-K (filing date: 2017-07-17), 10-Q (filing date: 2017-03-22), 10-Q (filing date: 2016-12-21), 10-Q (filing date: 2016-09-21), 10-K (filing date: 2016-07-18), 10-Q (filing date: 2016-03-17), 10-Q (filing date: 2015-12-17), 10-Q (filing date: 2015-09-17), 10-K (filing date: 2015-07-14), 10-Q (filing date: 2015-03-19), 10-Q (filing date: 2014-12-18), 10-Q (filing date: 2014-09-18).

1 Q1 2021 Calculation
Total asset turnover = (RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020) ÷ Total assets
= (19,321 + 17,358 + 17,487 + 17,324) ÷ 77,648 = 0.92

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 deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Equity Turnover

FedEx Corp., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 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
Selected Financial Data (US$ in millions)
Revenue 19,321  17,358  17,487  17,324  17,048  17,807  17,010  17,824  17,052  17,314  16,526  16,313  15,297  15,728  14,997  14,931  14,663  12,979  12,654  12,453  12,279  12,114  11,716  11,939  11,684 
Common stockholders’ investment 19,462  18,295  18,831  18,659  18,166  17,757  19,894  19,294  19,173  19,416  18,894  17,055  16,618  16,073  15,184  14,531  14,142  13,784  14,327  14,990  15,283  14,993  16,012  15,563  15,121 
Long-term Activity Ratio
Equity turnover1 3.67 3.78 3.70 3.71 3.84 3.92 3.48 3.56 3.51 3.37 3.38 3.65 3.67 3.75 3.79 3.80 3.73 3.65 3.46 3.24 3.14 3.17
Benchmarks
Equity Turnover, Competitors2
CSX Corp. 0.84 0.90 0.99 1.01 1.03 1.01 1.00 0.98 0.87 0.83 0.79 0.78 1.06 1.00 0.97 0.95 0.93 0.95 0.98 1.01
Norfolk Southern Corp. 0.66 0.69 0.74 0.74 0.75 0.76 0.76 0.75 0.73 0.66 0.65 0.64 0.81 0.81 0.80 0.80 0.80 0.82 0.85 0.86
Union Pacific Corp. 1.14 1.23 1.35 1.20 1.24 1.25 1.28 1.12 1.09 1.11 0.88 0.85 1.09 1.06 1.03 1.00 0.99 1.00 1.03 1.05
United Parcel Service Inc. 17.74 22.72 22.68 13.20 16.46 20.74 23.79 22.87 29.80 50.35 65.87 42.39 50.58 115.52 150.39 21.88 22.60 23.93 23.63

Based on: 10-Q (filing date: 2020-09-15), 10-K (filing date: 2020-07-20), 10-Q (filing date: 2020-03-17), 10-Q (filing date: 2019-12-17), 10-Q (filing date: 2019-09-17), 10-K (filing date: 2019-07-16), 10-Q (filing date: 2019-03-19), 10-Q (filing date: 2018-12-18), 10-Q (filing date: 2018-09-17), 10-K (filing date: 2018-07-16), 10-Q (filing date: 2018-03-21), 10-Q (filing date: 2017-12-20), 10-Q (filing date: 2017-09-20), 10-K (filing date: 2017-07-17), 10-Q (filing date: 2017-03-22), 10-Q (filing date: 2016-12-21), 10-Q (filing date: 2016-09-21), 10-K (filing date: 2016-07-18), 10-Q (filing date: 2016-03-17), 10-Q (filing date: 2015-12-17), 10-Q (filing date: 2015-09-17), 10-K (filing date: 2015-07-14), 10-Q (filing date: 2015-03-19), 10-Q (filing date: 2014-12-18), 10-Q (filing date: 2014-09-18).

1 Q1 2021 Calculation
Equity turnover = (RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020 + RevenueQ2 2020) ÷ Common stockholders’ investment
= (19,321 + 17,358 + 17,487 + 17,324) ÷ 19,462 = 3.67

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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.