Stock Analysis on Net
Stock Analysis on Net
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FedEx Corp. (NYSE:FDX)

Enterprise Value (EV)

Intermediate level

Current Enterprise Value (EV)

FedEx Corp., current enterprise value calculation

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Current share price (P) $250.17
No. shares of common stock outstanding 262,591,998
US$ in millions
Common equity (market value)1 65,693 
Total equity 65,693 
Add: Current portion of long-term debt (per books) 51 
Add: Long-term debt, less current portion (per books) 21,952 
Total equity and debt 87,696 
Less: Cash and cash equivalents 4,881 
Enterprise value (EV) 82,815 

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

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 250.17 × 262,591,998

Historical Enterprise Value (EV)

FedEx Corp., EV calculation

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May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015
Share price1, 2 $164.13 $169.79 $230.18 $215.48 $160.76 $171.24
No. shares of common stock outstanding1 261,954,496 260,808,410 265,924,840 268,257,434 265,524,323 282,430,208
US$ in millions
Common equity (market value)3 42,995  44,283  61,211  57,804  42,686  48,363 
Total equity 42,995  44,283  61,211  57,804  42,686  48,363 
Add: Current portion of long-term debt (book value) 51  964  1,342  22  29  19 
Add: Long-term debt, less current portion (book value) 21,952  16,617  15,243  14,909  13,838  7,249 
Total equity and debt 64,998  61,864  77,796  72,735  56,553  55,631 
Less: Cash and cash equivalents 4,881  2,319  3,265  3,969  3,534  3,763 
Enterprise value (EV) 60,117  59,545  74,531  68,766  53,019  51,868 

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of FedEx Corp.’s Annual Report.

3 2020 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 164.13 × 261,954,496

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. FedEx Corp.’s EV decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.