Price to FCFE (P/FCFE)
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- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Free Cash Flow to Equity (FCFE)
FedEx Corp., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2025-05-31), 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).
- Cash Provided by Operating Activities
- The cash generated from operating activities exhibited considerable fluctuations over the analyzed period. Starting at 5,097 million USD in 2020, it experienced a significant increase to 10,135 million USD by 2021, nearly doubling the previous year's figure. However, following this peak, the cash flow showed a downward trend, declining consistently from 9,832 million USD in 2022 to 7,036 million USD in 2025. This suggests a reduction in cash generation efficiency or operational challenges in recent years, despite the strong performance in 2021.
- Free Cash Flow to Equity (FCFE)
- The free cash flow to equity shows variability but with less volatility compared to operating cash flow. It started at 3,237 million USD in 2020, dropped sharply to 2,145 million USD in 2021, recovered moderately to 2,908 million USD in 2022, then experienced a gradual decrease and fluctuation thereafter, closing at 2,824 million USD in 2025. This pattern indicates a somewhat unstable distribution of cash available to equity holders, with potential impacts from capital expenditures, debt repayments, or working capital changes.
- Overall Trends and Insights
- The data reveals a peak in cash from operating activities in 2021, followed by a gradual decline, which may reflect market or operational conditions affecting cash generation ability. Meanwhile, free cash flow to equity is less correlated with the operating cash, suggesting that investments, financing activities, or other cash flows influence the cash available to shareholders. The declining operating cash might pose concerns for sustained free cash flows unless managed by other financial activities. Monitoring the factors driving these cash flows could provide insights into operational efficiency and capital management strategies.
Price to FCFE Ratio, Current
FedEx Corp., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Uber Technologies Inc. | |
| Union Pacific Corp. | |
| United Airlines Holdings Inc. | |
| United Parcel Service Inc. | |
| P/FCFE, Sector | |
| Transportation | |
| P/FCFE, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2025-05-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
FedEx Corp., historical P/FCFE calculation, comparison to benchmarks
| May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in millions)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Uber Technologies Inc. | |||||||
| Union Pacific Corp. | |||||||
| United Airlines Holdings Inc. | |||||||
| United Parcel Service Inc. | |||||||
| P/FCFE, Sector | |||||||
| Transportation | |||||||
| P/FCFE, Industry | |||||||
| Industrials | |||||||
Based on: 10-K (reporting date: 2025-05-31), 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).
1 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of FedEx Corp. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The data presents financial metrics over a six-year period, with a focus on share price, free cash flow to equity (FCFE) per share, and the price to FCFE ratio (P/FCFE).
- Share Price
- The share price exhibited significant fluctuations throughout the period. Starting at $164.13 in 2020, it experienced a notable increase in 2021, reaching $294.82. This was followed by a decline to $217.98 in 2022. Subsequently, the share price increased again in 2023 and 2024, peaking at $305.02 in 2024 before dropping to $225.73 in 2025. Overall, the share price showed volatility with two major peaks during 2021 and 2024.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share displayed moderate variability. It began at $12.36 in 2020 and declined to its lowest point of $8.02 in 2021. Afterward, it increased to $11.19 in 2022 but slightly decreased to $10.04 in 2023. The metric then rose again to $12.23 in 2024 and marginally declined to $11.97 in 2025. This pattern suggests some instability in free cash flow generation per share, although the values generally returned close to the initial level by the end of the period.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio exhibited notable fluctuations and generally reflected the inverse movement of FCFE relative to the share price. Starting at 13.28 in 2020, it surged to a high of 36.75 in 2021, coinciding with the lowest FCFE and the highest share price during that year, indicating a relatively expensive valuation on a cash flow basis. The ratio then decreased to 19.48 in 2022, increased again to 25.37 in 2023, remained stable at 24.93 in 2024, and finally declined to 18.86 in 2025. This trend suggests fluctuating investor sentiment and valuation multiples relative to free cash flow over the analyzed years.