Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

Analysis of Profitability Ratios 

Microsoft Excel

Profitability Ratios (Summary)

FedEx Corp., profitability ratios

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Return on Sales
Operating profit margin 6.68% 6.98% 3.49% 6.41% 7.44% 8.35%
Net profit margin 4.09% 6.23% 1.86% 0.77% 6.99% 4.97%
Return on Investment
Return on equity (ROE) 15.34% 21.64% 7.03% 3.04% 23.55% 18.65%
Return on assets (ROA) 4.45% 6.32% 1.75% 0.99% 8.74% 6.17%

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. FedEx Corp. operating profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. FedEx Corp. net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. FedEx Corp. ROE improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
ROA A profitability ratio calculated as net income divided by total assets. FedEx Corp. ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Operating Profit Margin

FedEx Corp., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Selected Financial Data (US$ in millions)
Operating income 6,245  5,857  2,417  4,466  4,870  5,037 
Revenue 93,512  83,959  69,217  69,693  65,450  60,319 
Profitability Ratio
Operating profit margin1 6.68% 6.98% 3.49% 6.41% 7.44% 8.35%
Benchmarks
Operating Profit Margin, Competitors2
American Airlines Group Inc. -3.54% -60.11% 6.70% 5.96% 9.61%
CSX Corp. 44.67% 41.22% 41.59% 39.75% 32.14%
Union Pacific Corp. 42.83% 40.11% 39.40% 37.30% 37.95%
United Parcel Service Inc. 13.17% 9.08% 10.52% 9.77% 11.43%
Operating Profit Margin, Sector
Transportation 13.26% 5.90% 12.92% 12.88% 14.10%
Operating Profit Margin, Industry
Industrials 11.18% 4.89% 11.95% 13.10% 13.08%

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

1 2022 Calculation
Operating profit margin = 100 × Operating income ÷ Revenue
= 100 × 6,245 ÷ 93,512 = 6.68%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. FedEx Corp. operating profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Net Profit Margin

FedEx Corp., net profit margin calculation, comparison to benchmarks

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Selected Financial Data (US$ in millions)
Net income 3,826  5,231  1,286  540  4,572  2,997 
Revenue 93,512  83,959  69,217  69,693  65,450  60,319 
Profitability Ratio
Net profit margin1 4.09% 6.23% 1.86% 0.77% 6.99% 4.97%
Benchmarks
Net Profit Margin, Competitors2
American Airlines Group Inc. -6.67% -51.25% 3.68% 3.17% 4.55%
CSX Corp. 30.19% 26.13% 27.90% 27.01% 47.96%
Union Pacific Corp. 29.92% 27.38% 27.27% 26.13% 50.43%
United Parcel Service Inc. 13.25% 1.59% 5.99% 6.67% 7.45%
Net Profit Margin, Sector
Transportation 10.77% 0.92% 7.13% 9.24% 12.94%
Net Profit Margin, Industry
Industrials 6.98% 2.18% 6.04% 5.42% 6.67%

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

1 2022 Calculation
Net profit margin = 100 × Net income ÷ Revenue
= 100 × 3,826 ÷ 93,512 = 4.09%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. FedEx Corp. net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Return on Equity (ROE)

FedEx Corp., ROE calculation, comparison to benchmarks

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Selected Financial Data (US$ in millions)
Net income 3,826  5,231  1,286  540  4,572  2,997 
Common stockholders’ investment 24,939  24,168  18,295  17,757  19,416  16,073 
Profitability Ratio
ROE1 15.34% 21.64% 7.03% 3.04% 23.55% 18.65%
Benchmarks
ROE, Competitors2
American Airlines Group Inc. 48.88%
CSX Corp. 28.03% 21.11% 28.11% 26.34% 37.21%
Union Pacific Corp. 46.06% 31.54% 32.65% 29.21% 43.10%
United Parcel Service Inc. 90.44% 204.41% 135.90% 158.59% 491.00%
ROE, Sector
Transportation 45.00% 4.41% 31.28% 36.29% 42.95%
ROE, Industry
Industrials 20.09% 6.64% 24.51% 21.81% 21.48%

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

1 2022 Calculation
ROE = 100 × Net income ÷ Common stockholders’ investment
= 100 × 3,826 ÷ 24,939 = 15.34%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. FedEx Corp. ROE improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Return on Assets (ROA)

FedEx Corp., ROA calculation, comparison to benchmarks

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Selected Financial Data (US$ in millions)
Net income 3,826  5,231  1,286  540  4,572  2,997 
Total assets 85,994  82,777  73,537  54,403  52,330  48,552 
Profitability Ratio
ROA1 4.45% 6.32% 1.75% 0.99% 8.74% 6.17%
Benchmarks
ROA, Competitors2
American Airlines Group Inc. -3.00% -14.33% 2.81% 2.33% 3.73%
CSX Corp. 9.33% 6.95% 8.71% 9.01% 15.31%
Union Pacific Corp. 10.27% 8.57% 9.60% 10.09% 18.53%
United Parcel Service Inc. 18.57% 2.15% 7.67% 9.58% 10.81%
ROA, Sector
Transportation 8.19% 0.62% 5.85% 7.75% 10.89%
ROA, Industry
Industrials 4.11% 1.10% 3.73% 3.54% 4.11%

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

1 2022 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 3,826 ÷ 85,994 = 4.45%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. FedEx Corp. ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.