FedEx Corp. (NYSE:FDX)

Price to Earnings (P/E) Ratio

The Price to Earnings ratio exhibits a general downward trend from August 2020 through November 2021, declining from 34.8 to 12.86. This suggests a diminishing market valuation relative to earnings over this period. Subsequently, the ratio experienced fluctuations, rising to a peak of 18.13 in November 2024 before declining again to 12.97 by November 2025. Overall, the data indicate periods of increased market optimism followed by corrections, with the more recent values lower than the initial peak.

Price to Operating Profit (P/OP) Ratio

The Price to Operating Profit ratio shows a steady decline from 20.51 in August 2020 to a low of 6.66 in August 2022, suggesting improving operating profit relative to market price or a decreased price multiple. Following this trough, the ratio reversed direction, increasing to 14.24 in November 2024, before gradually declining again to 11.95 by November 2025. This pattern reflects a period of improved operational earnings, followed by a phase of rising stock price relative to operating profit or reduced operating profit margin.

Price to Sales (P/S) Ratio

This ratio declines significantly from 1.04 in November 2020 to a low of 0.42 in August 2022, indicating that the market values sales less over this period. After this low point, the Price to Sales ratio shows a partial recovery, rising to 0.85 in May 2024 before declining again to 0.6 in November 2025. The fluctuations suggest changing market perceptions regarding revenue quality or growth potential across the span analyzed.

Price to Book Value (P/BV) Ratio

The Price to Book Value ratio consistently trends downward from 3.68 in November 2020 to the lowest point of 1.6 in August 2022, pointing to a reduction in market valuation relative to book value. Thereafter, a moderate rebound occurs, with the ratio climbing back to 2.7 in May 2024, followed by another decline to 1.9 in November 2025. This indicates an initial market reassessment of asset value or profitability, with subsequent partial recovery and later moderation.

Share Price Trend

The share price experienced significant fluctuations over the analyzed periods. Initially, the price rose from 236.67 US$ to a peak near 294.82 US$ by May 31, 2021. Following this peak, a downward trend is notable, with the price diminishing steadily to around 154.54 US$ by August 31, 2022. After this low point, the share price shows a recovery phase, climbing back to approximately 305.02 US$ in May 31, 2024, but then again declining somewhat towards the end of the period, closing near 287.12 US$ by November 30, 2025. This pattern indicates cycles of appreciation and correction within the examined timeframe.

Earnings Per Share (EPS) Trend

The EPS demonstrated an overall growth trend with some volatility. From 6.8 US$ at August 31, 2020, earnings per share increased sharply to 19.57 US$ by May 31, 2021. After this peak, EPS declined, stabilizing around the 13-16 US$ range through late 2022 and into mid-2023. Following this period of relative stability, EPS increased gradually, reaching above 18 US$ by May 31, 2024, before showing moderate fluctuations with a slight downward tendency towards the end of the period. The data suggest underlying earnings growth, albeit with periods of consolidation and minor declines.

Price-to-Earnings (P/E) Ratio Trend

The P/E ratio displayed a pronounced decline from 34.8 at August 31, 2020, to as low as 11.2 by August 31, 2022. Subsequently, the ratio experienced variability, including some increases and decreases, generally ranging between 12 and 18 for the remainder of the period. Notably, the P/E ratio rose after mid-2023, indicating either a revaluation of the stock or changes in earnings expectations. The trend suggests that the market valuation relative to earnings became more conservative initially but then partially reverted to higher levels in later periods, possibly reflecting investor sentiment adjustments.

Summary Insights

The financial indicators reveal a period of growth and volatility. The share price and EPS both peaked around mid-2021, with subsequent declines and recoveries. The P/E ratio's downward trend implies that the stock became less expensive in relation to earnings during the initial part of the timeline, aligning with the share price drop despite EPS fluctuations. Later increments in the P/E ratio indicate renewed investor confidence or expectations of improved future earnings. Overall, the data suggest dynamic market responses to earnings trends, with the company undergoing phases of expansion, contraction, and market reassessment throughout the timeframe analyzed.

Share Price Trends

The share price exhibited noticeable fluctuations over the analyzed periods. Initially, it increased significantly from 236.67 US$ to a peak near 294.82 US$ within the first year. However, this was followed by a pronounced decline reaching a low point around 154.54 US$ approximately two years into the timeline. Subsequently, there was a recovery with the price gradually rising again to surpass previous highs, peaking at 305.02 US$ in the later periods, before experiencing moderate volatility and ending at 287.12 US$. Overall, the share price demonstrated a cyclical pattern marked by an early peak, a substantial dip, and a later rebound.

Operating Profit Per Share

Operating profit per share showed a general upward trajectory across the periods. Starting from 11.54 US$, it rose consistently to levels above 20 US$ in the mid to later stages, peaking around 24.03 US$. Despite minor fluctuations, the overall trend reflects steady improvement in operational profitability per share, indicating expansion or enhanced efficiency within the business operations over the timeframe.

Price to Operating Profit Ratio (P/OP)

The P/OP ratio declined markedly from 20.51 to a low near 6.66, coinciding with the period when share prices decreased and operating profit per share increased. This suggests growing investor price sensitivity or a revaluation of earnings multiples. Following this trough, the ratio rose again hitting around 13.40, before showing some oscillation and ending near 11.95. This pattern reflects volatility in market valuation relative to operating earnings, potentially driven by changing investor sentiment or expectations about future performance.

Relationship Among Metrics

The inverse movements between share price and P/OP ratio during the mid-period indicate a complex interplay between market valuation and operational performance. As operating profit per share increased steadily, the share price first declined sharply, leading to the low P/OP ratio, which could imply undervaluation or market concerns unrelated to immediate profitability. The subsequent recovery in share price and rise in P/OP ratio may reflect renewed investor confidence or improved outlook. The eventual stabilization of operating profit per share alongside fluctuating market prices suggests that external factors or market dynamics influenced valuation beyond fundamental operating performance.

Share Price Trends

The share price experienced volatility over the observed periods. Initially, it showed a rising trend from $236.67 to a peak around $294.82 in May 2021, followed by a notable decline reaching a low near $154.54 in August 2022. Afterwards, the share price rebounded significantly, climbing back above $300 by May 2024, before encountering another gradual decline toward the end of the period, stabilizing around $287.12 in November 2025.

Sales per Share Evolution

Sales per share demonstrated a generally steady upward trajectory throughout the timeline. Beginning at $272.25 in August 2020, sales per share increased consistently, surpassing $350 in early 2021 and continuing to climb gradually, reaching $383.17 by November 2025, indicating sustained business growth and improving revenue generation on a per-share basis.

Price-to-Sales (P/S) Ratio Analysis

The P/S ratio exhibited significant fluctuations correlated inversely with the share price relative to sales per share. The ratio peaked at 1.04 in November 2020, then fell sharply to a low around 0.42 in August 2022, reflecting a period where share prices were relatively depressed compared to sales. Following this low, the P/S ratio recovered moderately, fluctuating between 0.6 and 0.85 in the latter periods, which aligns with the rebound in share price while sales per share remained stable to increasing.

Overall Insights

The data indicates that while sales per share showed consistent improvement, the share price was more volatile, resulting in wide swings in valuation multiples as reflected by the P/S ratio. This pattern may suggest external market factors or investor sentiment had a substantial impact on stock valuation independent of the company’s underlying sales performance. The recovery in share price and P/S ratio post-2022 implies regained investor confidence or improved market conditions, despite more modest sales growth at that time.

The analysis of the presented financial metrics reveals several notable trends in the company's valuation and shareholder equity over the observed periods.

Share Price

The share price exhibited considerable volatility, with an initial value of $236.67. It experienced a peak around November 2020 at $292.26 before declining consistently through August 2022, reaching a low of $154.54. Following this trough, the share price recovered steadily, surpassing previous highs by May 2024 with a peak of $305.02. After this peak, the price again declined gradually, ending at $287.12 by November 2025. This cyclical pattern reflects varying market sentiments and possibly external economic factors impacting investor confidence.

Book Value per Share (BVPS)

BVPS demonstrated a general upward trajectory throughout the timeline. Starting at $74.11, it consistently increased, reaching $119.68 by the end of the period. This steady growth indicates accumulation of equity within the company and suggests an ongoing strengthening of its fundamental net asset base. The incremental rises are relatively stable, highlighting solid operational performance and retained earnings over time.

Price-to-Book Value Ratio (P/BV)

The P/BV ratio shows fluctuations mirroring the interplay between market valuation and book value growth. Initially high at 3.19, it rose to 3.68 in November 2020 before declining sharply to a nadir of 1.60 by August 2022, coinciding with the share price decline and increasing book value. Subsequently, the ratio increased again, peaking around 2.7 by May 2024, signaling the share price appreciation outpacing book value growth during this recovery phase. Later, the ratio tapered to 1.92 before a modest rebound to 2.4 by the final date. These movements suggest varying investor perceptions of the company's growth prospects relative to its book value.

Overall, the data indicates that while the company's intrinsic value, as reflected by book value per share, steadily increased, the market valuation as measured by share price and price-to-book ratio experienced more pronounced fluctuations. This divergence may point to external market conditions, investor sentiment shifts, or company-specific events influencing stock performance independently of the steady growth in book value.