Enterprise Value (EV)
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Current Enterprise Value (EV)
FedEx Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Total equity | |
| Add: Current portion of long-term debt (per books) | |
| Add: Long-term debt, less current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-05-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
FedEx Corp., EV calculation
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of FedEx Corp. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common Equity and Total Equity
- Both common equity (market value) and total equity exhibit similar trends over the analyzed period. Starting at approximately 44.3 billion USD in 2019, the value slightly declined to around 43.0 billion USD in 2020. This is followed by a significant increase to 78.8 billion USD in 2021, representing an approximate 83% increase from the previous year. However, equity then decreased noticeably to 56.6 billion USD in 2022. Afterward, a moderate recovery is observed, with equity rising to 64.0 billion USD in 2023 and further to 74.5 billion USD by 2024. Overall, the equity values illustrate volatility, with a sharp peak in 2021 and subsequent fluctuations.
- Total Equity and Debt
- Total equity and debt show a consistent growth pattern across the years, rising from 61.9 billion USD in 2019 to 94.7 billion USD in 2024. The progression depicts moderate increases in 2020, followed by a substantial jump to nearly 100.0 billion USD in 2021. Subsequently, there is a dip in 2022 to 76.9 billion USD, but growth resumes thereafter, reaching approximately 84.6 billion USD in 2023 and 94.7 billion USD in 2024. The fluctuations mirror somewhat those of equity, with a notable peak and subsequent decrease, but total capital structure consistently trends upwards over the long term.
- Enterprise Value (EV)
- Enterprise value reflects a pattern similar to total equity and debt. Beginning at about 59.5 billion USD in 2019, EV slightly increased to 60.1 billion USD in 2020 and then surged to 92.6 billion USD in 2021. Following this peak, EV declined to 70.0 billion USD in 2022 before rising again to 77.7 billion USD in 2023 and 88.2 billion USD in 2024. This trajectory suggests that market perceptions and valuations are subject to considerable change, peaking substantially in 2021, dipping afterwards, and showing signs of recovery in recent years.
- Summary of Patterns and Insights
- Across the analyzed periods, the financial metrics demonstrate notable volatility, particularly around the year 2021, when common equity, total equity, total equity and debt, and enterprise value achieved significant peaks. The subsequent decline observed in 2022 across these indicators may point to external challenges or market adjustments. Recovery trends in 2023 and 2024 indicate resilience and positive market revaluation. The parallel movement of equity measures and enterprise value underscores their interconnected nature, reflecting both capital structure and market performance influences. Overall, the data suggest a dynamic financial environment with periods of rapid growth tempered by corrections, followed by gradual renewal of value.