FedEx
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The last earnings update was 30 days ago. More info.
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FDX Share Price and Events
7 Day Returns
1 Year Returns
FDX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| FedEx (FDX) | 3.3% | 9.2% | 12% | -21.2% | 19.7% | 45.6% |
| US Logistics | 2% | 6.1% | 14.6% | -6% | 15.5% | 31.8% |
| US Market | 0.8% | 2.6% | 10.6% | 5.9% | 37.7% | 45.5% |
1 Year Return vs Industry and Market
- FDX underperformed the Logistics industry which returned -6% over the past year.
- FDX underperformed the Market in United States of America which returned 5.9% over the past year.
FDX Value
Is FedEx undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
FedEx
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for FedEx.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 23 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 10% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Logistics Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.036 (1 + (1- 21%) (35.67%)) |
1.22 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.22 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.22 * 5.96%) |
10% |
Discounted Cash Flow Calculation for NYSE:FDX using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for FedEx is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 10%) |
|
|---|---|---|---|
| 2019 | 467.00 | Analyst x4 | 424.54 |
| 2020 | 1,855.48 | Analyst x5 | 1,533.43 |
| 2021 | 2,566.00 | Analyst x3 | 1,927.82 |
| 2022 | 3,310.00 | Analyst x1 | 2,260.69 |
| 2023 | 3,564.00 | Analyst x1 | 2,212.87 |
| 2024 | 3,777.68 | Est @ 6% | 2,132.29 |
| 2025 | 3,967.17 | Est @ 5.02% | 2,035.66 |
| 2026 | 4,138.95 | Est @ 4.33% | 1,930.71 |
| 2027 | 4,298.30 | Est @ 3.85% | 1,822.76 |
| 2028 | 4,449.35 | Est @ 3.51% | 1,715.26 |
| Present value of next 10 years cash flows | $17,996.03 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $4,449.35 × (1 + 2.73%) ÷ (10% – 2.73%) |
$62,863.89 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $62,863.89 ÷ (1 + 10%)10 |
$24,234.62 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $17,996.03 + $24,234.62 |
$42,230.65 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $42,230.65 / 260.57 |
$162.07 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $162.07 |
| Current discount | Discount to share price of
$198.15
= -1 x ($198.15 - $162.07) / $162.07 |
-22.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of FedEx is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for FedEx's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
FedEx's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-02-28) in USD | $13.83 |
| NYSE:FDX Share Price ** | NYSE (2019-04-18) in USD | $198.15 |
| United States of America Logistics Industry PE Ratio | Median Figure of 14 Publicly-Listed Logistics Companies | 20.53x |
| United States of America Market PE Ratio | Median Figure of 3,078 Publicly-Listed Companies | 18.23x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of FedEx.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:FDX Share Price ÷ EPS (both in USD) = 198.15 ÷ 13.83 |
14.33x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- FedEx is good value based on earnings compared to the US Logistics industry average.
- FedEx is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
FedEx's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 14.33x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts |
12.1%per year |
| United States of America Logistics Industry PEG Ratio | Median Figure of 12 Publicly-Listed Logistics Companies | 1.64x |
| United States of America Market PEG Ratio | Median Figure of 2,108 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 14.33x ÷ 12.1% |
1.18x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- FedEx is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
FedEx's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-02-28) in USD | $76.35 |
| NYSE:FDX Share Price * | NYSE (2019-04-18) in USD | $198.15 |
| United States of America Logistics Industry PB Ratio | Median Figure of 16 Publicly-Listed Logistics Companies | 2.97x |
| United States of America Market PB Ratio | Median Figure of 5,172 Publicly-Listed Companies | 1.93x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:FDX Share Price ÷ Book Value per Share (both in USD) = 198.15 ÷ 76.35 |
2.6x |
* Primary Listing of FedEx.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- FedEx is good value based on assets compared to the US Logistics industry average.
Value checks
We assess FedEx's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Logistics industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Logistics industry average (and greater than 0)? (1 check) FedEx has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
FDX Future Performance
How is FedEx expected to perform in the next 1 to 3 years based on estimates from 23 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- FedEx's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- FedEx's earnings growth is positive but not above the United States of America market average.
- FedEx's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:FDX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts | 12.1% |
| NYSE:FDX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts | 4.5% |
| United States of America Logistics Industry Earnings Growth Rate | Market Cap Weighted Average | 11.7% |
| United States of America Logistics Industry Revenue Growth Rate | Market Cap Weighted Average | 6.2% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.3% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 23 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-05-31 | 84,483 | 10,046 | 5,191 | 2 |
| 2022-05-31 | 80,555 | 9,606 | 4,841 | 2 |
| 2021-05-31 | 76,114 | 9,392 | 4,838 | 8 |
| 2020-05-31 | 72,587 | 7,600 | 4,227 | 23 |
| 2019-05-31 | 69,859 | 6,132 | 3,521 | 23 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-02-28 | 69,200 | 6,835 | 3,631 |
| 2018-11-30 | 68,716 | 5,355 | 4,965 |
| 2018-08-31 | 67,205 | 4,785 | 4,805 |
| 2018-05-31 | 65,450 | 4,674 | 4,566 |
| 2018-02-28 | 63,864 | 3,447 | 4,460 |
| 2017-11-30 | 62,335 | 3,793 | 2,948 |
| 2017-08-31 | 60,953 | 4,549 | 2,874 |
| 2017-05-31 | 60,319 | 4,930 | 2,993 |
| 2017-02-28 | 57,570 | 4,557 | 1,904 |
| 2016-11-30 | 55,227 | 5,889 | 1,850 |
| 2016-08-31 | 52,749 | 5,438 | 1,841 |
| 2016-05-31 | 50,365 | 5,708 | 1,818 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 23 Analyst Estimates (S&P Global) | See Below |
All data from FedEx Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-05-31 | 21.66 | 21.66 | 21.66 | 1.00 |
| 2022-05-31 | 19.62 | 19.62 | 19.62 | 1.00 |
| 2021-05-31 | 18.83 | 21.16 | 16.80 | 7.00 |
| 2020-05-31 | 16.06 | 18.24 | 14.57 | 20.00 |
| 2019-05-31 | 13.22 | 14.73 | 10.36 | 19.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-02-28 | 13.83 |
| 2018-11-30 | 18.77 |
| 2018-08-31 | 18.05 |
| 2018-05-31 | 17.10 |
| 2018-02-28 | 16.67 |
| 2017-11-30 | 11.04 |
| 2017-08-31 | 10.77 |
| 2017-05-31 | 11.25 |
| 2017-02-28 | 7.13 |
| 2016-11-30 | 6.89 |
| 2016-08-31 | 6.77 |
| 2016-05-31 | 6.59 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess FedEx's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
FedEx has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
FDX Past Performance
How has FedEx performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- FedEx has delivered over 20% year on year earnings growth in the past 5 years.
- FedEx's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- FedEx's 1-year earnings growth is negative, it can't be compared to the US Logistics industry average.
Earnings and Revenue History
All data from FedEx Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-02-28 | 69,200.00 | 3,631.00 | 442.00 | |
| 2018-11-30 | 68,716.00 | 4,965.00 | 442.00 | |
| 2018-08-31 | 67,205.00 | 4,805.00 | 442.00 | |
| 2018-05-31 | 65,450.00 | 4,566.00 | 442.00 | |
| 2018-02-28 | 63,864.00 | 4,460.00 | 458.00 | |
| 2017-11-30 | 62,335.00 | 2,948.00 | 458.00 | |
| 2017-08-31 | 60,953.00 | 2,874.00 | 458.00 | |
| 2017-05-31 | 60,319.00 | 2,993.00 | 458.00 | |
| 2017-02-28 | 57,570.00 | 1,904.00 | 417.00 | |
| 2016-11-30 | 55,227.00 | 1,850.00 | 417.00 | |
| 2016-08-31 | 52,749.00 | 1,841.00 | 417.00 | |
| 2016-05-31 | 50,365.00 | 1,818.00 | 417.00 | |
| 2016-02-29 | 49,500.00 | 995.00 | 403.00 | |
| 2015-11-30 | 48,562.00 | 1,115.00 | 403.00 | |
| 2015-08-31 | 48,048.00 | 1,086.00 | 403.00 | |
| 2015-05-31 | 47,453.00 | 1,048.00 | 403.00 | |
| 2015-02-28 | 47,178.00 | 2,896.00 | 407.00 | |
| 2014-11-30 | 46,763.00 | 2,647.00 | 407.00 | |
| 2014-08-31 | 46,227.00 | 2,484.00 | 407.00 | |
| 2014-05-31 | 45,567.00 | 2,320.00 | 407.00 | |
| 2014-02-28 | 45,163.00 | 1,668.00 | 424.00 | |
| 2013-11-30 | 44,815.00 | 1,651.00 | 424.00 | |
| 2013-08-31 | 44,519.00 | 1,589.00 | 424.00 | |
| 2013-05-31 | 44,287.00 | 2,711.00 | 424.00 | |
| 2013-02-28 | 43,860.00 | 1,805.00 | 421.00 | |
| 2012-11-30 | 43,471.00 | 1,965.00 | 421.00 | |
| 2012-08-31 | 42,951.00 | 2,024.00 | 421.00 | |
| 2012-05-31 | 42,680.00 | 2,029.00 | 421.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- FedEx has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- FedEx used its assets more efficiently than the US Logistics industry average last year based on Return on Assets.
- FedEx's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess FedEx's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Logistics industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
FedEx has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
FDX Health
How is FedEx's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up FedEx's finances.
The net worth of a company is the difference between its assets and liabilities.
- FedEx is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- FedEx's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from FedEx Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-02-28 | 19,894.00 | 18,416.00 | 2,872.00 |
| 2018-11-30 | 19,294.00 | 17,291.00 | 2,123.00 |
| 2018-08-31 | 19,173.00 | 16,944.00 | 2,369.00 |
| 2018-05-31 | 19,416.00 | 16,585.00 | 3,265.00 |
| 2018-02-28 | 18,894.00 | 17,580.00 | 2,789.00 |
| 2017-11-30 | 17,055.00 | 15,441.00 | 2,768.00 |
| 2017-08-31 | 16,618.00 | 15,156.00 | 3,503.00 |
| 2017-05-31 | 16,073.00 | 14,931.00 | 3,969.00 |
| 2017-02-28 | 15,184.00 | 14,758.00 | 3,173.00 |
| 2016-11-30 | 14,531.00 | 13,596.00 | 3,059.00 |
| 2016-08-31 | 14,142.00 | 13,782.00 | 2,989.00 |
| 2016-05-31 | 13,784.00 | 13,762.00 | 3,534.00 |
| 2016-02-29 | 14,327.00 | 8,488.00 | 2,841.00 |
| 2015-11-30 | 14,990.00 | 8,495.00 | 3,647.00 |
| 2015-08-31 | 15,283.00 | 7,258.00 | 3,543.00 |
| 2015-05-31 | 14,993.00 | 7,268.00 | 3,763.00 |
| 2015-02-28 | 16,012.00 | 7,228.00 | 3,478.00 |
| 2014-11-30 | 15,563.00 | 4,735.00 | 2,266.00 |
| 2014-08-31 | 15,121.00 | 4,736.00 | 2,416.00 |
| 2014-05-31 | 15,277.00 | 4,737.00 | 2,908.00 |
| 2014-02-28 | 15,227.00 | 4,736.00 | 3,042.00 |
| 2013-11-30 | 17,533.00 | 2,990.00 | 3,935.00 |
| 2013-08-31 | 17,655.00 | 2,993.00 | 5,096.00 |
| 2013-05-31 | 17,398.00 | 2,990.00 | 4,917.00 |
| 2013-02-28 | 16,112.00 | 2,242.00 | 3,372.00 |
| 2012-11-30 | 15,543.00 | 2,242.00 | 2,517.00 |
| 2012-08-31 | 15,024.00 | 2,359.00 | 2,743.00 |
| 2012-05-31 | 14,727.00 | 1,667.00 | 2,843.00 |
- FedEx's level of debt (92.6%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (31.1% vs 92.6% today).
- Debt is well covered by operating cash flow (37.1%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 10.2x coverage).
Financial health checks
We assess FedEx's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) FedEx has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
FDX Dividends
What is FedEx's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
FedEx
shares you are expected to receive
$26
in your first year as a dividend.
Dividend Amount
- FedEx's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
- FedEx's dividend is below the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 23 Analyst Estimates (S&P Global) | See Below |
| United States of America Logistics Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 2.4% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2009 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-05-31 | 4.20 | 2.00 |
| 2022-05-31 | 3.75 | 2.00 |
| 2021-05-31 | 3.24 | 8.00 |
| 2020-05-31 | 2.88 | 17.00 |
| 2019-05-31 | 2.61 | 17.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-15 | 2.600 | 1.427 |
| 2018-11-16 | 2.600 | 1.422 |
| 2018-08-17 | 2.600 | 1.112 |
| 2018-06-11 | 2.600 | 1.078 |
| 2018-02-16 | 2.000 | 0.812 |
| 2017-11-17 | 2.000 | 0.808 |
| 2017-08-18 | 2.000 | 0.915 |
| 2017-06-12 | 2.000 | 0.945 |
| 2017-02-17 | 1.600 | 0.830 |
| 2016-11-18 | 1.600 | 0.838 |
| 2016-08-19 | 1.600 | 0.933 |
| 2016-06-06 | 1.600 | 1.000 |
| 2016-02-19 | 1.000 | 0.638 |
| 2015-11-02 | 1.000 | 0.698 |
| 2015-08-14 | 1.000 | 0.659 |
| 2015-06-08 | 1.000 | 0.582 |
| 2015-02-13 | 0.800 | 0.462 |
| 2014-11-21 | 0.800 | 0.457 |
| 2014-08-15 | 0.800 | 0.504 |
| 2014-06-09 | 0.800 | 0.538 |
| 2014-02-14 | 0.600 | 0.439 |
| 2013-11-15 | 0.600 | 0.436 |
| 2013-08-16 | 0.600 | 0.508 |
| 2013-06-03 | 0.600 | 0.585 |
| 2013-02-15 | 0.560 | 0.563 |
| 2012-11-02 | 0.560 | 0.592 |
| 2012-08-17 | 0.560 | 0.633 |
| 2012-06-04 | 0.560 | 0.627 |
| 2012-02-17 | 0.520 | 0.579 |
| 2011-11-18 | 0.520 | 0.600 |
| 2011-08-19 | 0.520 | 0.685 |
| 2011-06-06 | 0.520 | 0.593 |
| 2011-02-28 | 0.480 | 0.521 |
| 2010-11-08 | 0.480 | 0.521 |
| 2010-08-23 | 0.480 | 0.563 |
| 2010-06-07 | 0.480 | 0.610 |
| 2010-02-16 | 0.440 | 0.504 |
| 2009-11-20 | 0.440 | 0.526 |
| 2009-08-14 | 0.440 | 0.588 |
| 2009-06-09 | 0.440 | 0.748 |
| 2009-04-20 | 0.440 | 0.793 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
FedEx's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (5.3x coverage).
- Dividends after 3 years are expected to be well covered by earnings (5.5x coverage).
Income/ dividend checks
We assess FedEx's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can FedEx afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) FedEx has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
FDX Management
CEO
| COMPENSATION | $16,665,398 |
| AGE | 74 |
| TENURE AS CEO | 21.3 years |
CEO Bio
Mr. Frederick W. Smith has been Chairman of FedEx Express since 1975. Mr. Smith has been the Chief Executive Officer of FedEx Corporation since January 1998 and served as its President from January 1998 to February 1, 2017. Mr. Smith serves as Chief Executive Officer and President at FedEx Ground Package System, Inc. He serves as Director, Chairman of FedEx Corp, Chief Executive Officer of FedEx Corp and President of FedEx Corp at FedEx Office and Print Services, Inc. Mr. Smith is the Founder of FedEx Corporation and has been its Executive Chairman since 1998 and Executive Director since 1971. He is the Founder of Memphis Angels. Mr. Smith founded Federal Express Corporation (US) in 1971 and served as its President from June 1971 to February 1975. Mr. Smith served as the Chief Executive Officer of Federal Express Corporation (US) from 1977 to January 1998. He was Chairman, President and Chief Executive Officer of FedEx Express from April 1983 to January 1998. He served as an officer in the U.S. Marine Corps in Vietnam from 1966 to 1970. He has been the Chairman of Federal Express Corporation since 1975. He served as Chairman of the Board of Governors for the International Air Transport Association and the U.S. Air Transport Association. Mr. Smith serves as a Director of FedEx Corporation of FedEx Ground Package System, Inc. He serves as a Director of Federal Express Corp. He has been Director of Startup America Partnership, LLC since August 23, 2011. He serves as Emeritus Public Trustee of Mayo Clinic. He serves as a Director of FedEx Office and Print Services, Inc. He serves as a Trustee of Mayo Foundation For Medical Education And Research. He has served as a Director of the Business Roundtable, Council on Foreign Relations, Inc., and Library of Congress James Madison Council. He served as a Director of Value America Inc. since 1999. He served as a Member of the Advisory Board of Forstmann Little & Co. He served as a Director of CATO Institute. He is the Co-chairman of the Energy Security Leadership Council. He serves as a Co-chairman of the U.S. World War II Memorial Project, Mayo Foundation Boards and the St. Jude Children's Research Hospital. Mr. Smith serves as the Chair of the Business Roundtable's Security Task Force. He serves as the Chairman of the U.S.-France Business Council. He served as Chairman of the U.S.-China Business Council. He was named Chief Executive magazine's 2004 “Chief Executive Officer of the Year. Mr. Smith attended Yale University, where he earned a B.A. degree in 1966.
CEO Compensation
- Frederick's compensation has been consistent with company performance over the past year.
- Frederick's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the FedEx management team in years:
- The average tenure for the FedEx management team is less than 2 years, this suggests a new team.
Management Team
Frederick Smith
Founder
$17M
74
21.3 yrs
Alan Graf
Executive VP & CFO
$7M
64
21.3 yrs
Rob Carter
CIF, Co-CEO & Executive VP of FedEx Information Services
$6M
58
18.8 yrs
Raj Subramaniam
President & COO
52
0.1 yrs
John Merino
Corporate VP & Principal Accounting Officer
Mickey Foster
Staff Vice President of Investor Relations
Mark Allen
Executive VP
62
1.5 yrs
Brie Carere
Executive VP and Chief Marketing & Communications Officer
0.3 yrs
Jill Brannon
Executive VP & Chief Sales Officer
0.1 yrs
Judy Edge
Corporate Vice President of Human Resources
Board of Directors Tenure
Average tenure and age of the FedEx board of directors in years:
- The tenure for the FedEx board of directors is about average.
Board of Directors
Frederick Smith
Founder
$17M
74
21.3 yrs
Paul Walsh
Independent Director
$309K
63
23.3 yrs
John Edwardson
Independent Director
$319K
69
15.8 yrs
David Steiner
Lead Independent Director
$309K
58
Chris Inglis
Independent Director
$294K
63
3.4 yrs
Shirley Jackson
Independent Director
$294K
71
20.3 yrs
Susan Schwab
Independent Director
$294K
63
9.8 yrs
R. Martin
Independent Director
$294K
66
7.6 yrs
Joshua Ramo
Independent Director
$294K
49
7.6 yrs
Kim Jabal
Independent Director
$294K
49
5.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 04. Jan 19 | Buy | David Steiner | Individual | 02. Jan 19 | 02. Jan 19 | 7,000 | $162.92 | $1,140,446 | ||
| 18. Oct 18 | Buy | Susan Griffith | Individual | 17. Oct 18 | 17. Oct 18 | 1,000 | $225.16 | $225,156 | ||
Management checks
We assess FedEx's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) FedEx has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
FDX News
Simply Wall St News
Is FedEx Corporation's (NYSE:FDX) P/E Ratio Really That Good?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Based on the last twelve months, FedEx's P/E ratio is 13.87. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWhere FedEx Corporation's (NYSE:FDX) Earnings Growth Stands Against Its Industry
When FedEx Corporation (NYSE:FDX) released its most recent earnings update (28 February 2019), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … FDX's trailing twelve-month earnings (from 28 February 2019) of US$3.6b has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 22%, indicating the rate at which FDX is growing has slowed down
Simply Wall St - – Full articleWhy You Should Care About FedEx Corporation’s (NYSE:FDX) Cash Levels
I will take you through FedEx’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Free cash flow (FCF) is the amount of cash FedEx has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … The two ways to assess whether FedEx’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow
Simply Wall St - – Full articleHave Insiders Been Buying FedEx Corporation (NYSE:FDX) Shares This Year?
So before you buy or sell FedEx Corporation (NYSE:FDX), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At FedEx. … In the last twelve months insiders paid US$1.4m for 8.00k shares purchased
Simply Wall St - – Full articleWhat Kind Of Shareholder Appears On The FedEx Corporation's (NYSE:FDX) Shareholder Register?
Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … We'd expect to see both institutions and retail investors owning a portion of the company. … institutions are noticeable on the share registry.
Simply Wall St - – Full articleThe FedEx Share Price Is Up 35% And Shareholders Are Holding On
It hasn't been the best quarter for FedEx Corporation (NYSE:FDX) shareholders, since the share price has fallen 20% in that time. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, FedEx achieved compound earnings per share (EPS) growth of 17% per year.
Simply Wall St - – Full articleIs Now An Opportune Moment To Examine FedEx Corporation (NYSE:FDX)?
Help shape the future of investing tools and you could win a $250 gift card! … led the NYSE gainers with a relatively large price hike in the past couple of weeks … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price.
Simply Wall St - – Full articleHow Much is FedEx Corporation's (NYSE:FDX) CEO Getting Paid?
Frederick Smith became the CEO of FedEx Corporation (NYSE:FDX) in 1998. … First, this article will compare CEO compensation with compensation at other large companies. … How Does Frederick Smith's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleCan FedEx Corporation's (NYSE:FDX) ROE Continue To Surpass The Industry Average?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows FedEx has a return on equity of 26% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleShould You Be Holding FedEx Corporation (NYSE:FDX)?
Attractive stocks have exceptional fundamentals. … In the case of FedEx Corporation (NYSE:FDX), there's … dividend payer
Simply Wall St - – Full articleFDX Company Info
Description
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company’s FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages. The company’s FedEx Freight segment offers less-than-truckload and freight delivery services. As of May 31, 2018, it operated approximately 27,000 vehicles and 370 service centers. The company’s FedEx Services segment provides sales, marketing, information technology, communications, customer, technical support, billing and collection, and other back-office support services. It also offers FedEx Mobile, a suite of solutions to track packages, create shipping labels, view account-specific rate quotes, and access drop-off location information; FedEx Office, a suite of printing and shipping management solutions for copying and digital printing, professional finishing, document creation, direct mail, signs and graphics, computer rentals, Wi-Fi, and corporate print solutions; and packing services, supplies, and boxes, as well as FedEx Express and FedEx Ground shipping services. The company’s Corporate, Other and Eliminations segment offers international trade services in customs brokerage, and ocean and air freight forwarding services; cross-border enablement and technology solutions, and e-commerce transportation solutions; integrated supply chain management solutions; time-critical shipment services; critical inventory and service parts logistics, 3-D printing, and technology repair. This segment also provides international trade advisory services, including assistance with the customs-trade partnership against terrorism program; and publishes customs duty and tax information. FedEx Corporation was founded in 1971 and is headquartered in Memphis, Tennessee.
Details
| Name: | FedEx Corporation |
| FDX | |
| Exchange: | NYSE |
| Founded: | 1971 |
| $51,632,859,367 | |
| 260,574,612 | |
| Website: | http://www.fedex.com |
| Address: |
FedEx Corporation 942 South Shady Grove Road, Memphis, Tennessee, 38120, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | FDX | Common Stock | New York Stock Exchange | US | USD | 02. Jan 1992 | |
| DB | FDX | Common Stock | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| XTRA | FDX | Common Stock | XETRA Trading Platform | DE | EUR | 02. Jan 1992 | |
| LSE | 0QZX | Common Stock | London Stock Exchange | GB | USD | 02. Jan 1992 | |
| SWX | FDX | Common Stock | SIX Swiss Exchange | CH | CHF | 02. Jan 1992 | |
| WBAG | FDX | Common Stock | Wiener Boerse AG | AT | EUR | 02. Jan 1992 | |
| BMV | FDX * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 02. Jan 1992 | |
| BOVESPA | FDXB34 | BDR EACH REPR 1 COM USD0.10 | Bolsa de Valores de Sao Paulo | BR | BRL | 24. Aug 2012 |
Number of employees
Current staff
Industry
| Air Freight and Logistics | |
| Transportation |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/18 23:35 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/17 |
| Last earnings filing: | 2019/03/19 |
| Last earnings reported: | 2019/02/28 |
| Last annual earnings reported: | 2018/05/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
