Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

Enterprise Value (EV) 

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Current Enterprise Value (EV)

FedEx Corp., current enterprise value calculation

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Current share price (P) $203.57
No. shares of common stock outstanding 259,178,229
US$ in millions
Common equity (market value)1 52,761 
Total equity 52,761 
Add: Current portion of long-term debt (per books) 146 
Add: Long-term debt, less current portion (per books) 20,733 
Total equity and debt 73,640 
Less: Cash and cash equivalents 7,087 
Enterprise value (EV) 66,553 

Based on: 10-K (reporting date: 2021-05-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 203.57 × 259,178,229


Historical Enterprise Value (EV)

FedEx Corp., EV calculation

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May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Share price1, 2 $294.82 $164.13 $169.79 $230.18 $215.48 $160.76
No. shares of common stock outstanding1 267,348,232 261,954,496 260,808,410 265,924,840 268,257,434 265,524,323
US$ in millions
Common equity (market value)3 78,820  42,995  44,283  61,211  57,804  42,686 
Total equity 78,820  42,995  44,283  61,211  57,804  42,686 
Add: Current portion of long-term debt (book value) 146  51  964  1,342  22  29 
Add: Long-term debt, less current portion (book value) 20,733  21,952  16,617  15,243  14,909  13,838 
Total equity and debt 99,699  64,998  61,864  77,796  72,735  56,553 
Less: Cash and cash equivalents 7,087  4,881  2,319  3,265  3,969  3,534 
Enterprise value (EV) 92,612  60,117  59,545  74,531  68,766  53,019 

Based on: 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), 10-K (reporting date: 2016-05-31).

1 Data adjusted for splits and stock dividends.

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

3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 294.82 × 267,348,232

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. EV increased from 2019 to 2020 and from 2020 to 2021.