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FDX

FedEx NYSE:FDX Stock Report

Last Price

US$142.90

Market Cap

US$37.2b

7D

-12.3%

1Y

-36.9%

Updated

26 Sep, 2022

Data

Company Financials +
FDX fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance2/6
Financial Health4/6
Dividends5/6

FDX Stock Overview

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally.

FedEx Competitors

Price History & Performance

Summary of all time highs, changes and price drops for FedEx
Historical stock prices
Current Share PriceUS$142.90
52 Week HighUS$266.79
52 Week LowUS$142.40
Beta1.21
1 Month Change-34.50%
3 Month Change-40.48%
1 Year Change-36.91%
3 Year Change-1.83%
5 Year Change-36.86%
Change since IPO1,384.68%

Recent News & Updates

Sep 22

FedEx Non-GAAP EPS of $3.44 beats by $0.64, revenue of $23.2B misses by $580M

FedEx press release (NYSE:FDX): FQ1 Non-GAAP EPS of $3.44 beats by $0.64. Revenue of $23.2B (+5.5% Y/Y) misses by $580M. FQ2 Outlook: Revenue of $23.5B to $24B vs. consensus of $23.78B; Earnings per diluted share of $2.65 or greater, and earnings per diluted share excluding costs related to business optimization initiatives and business realignment activities of $2.75 or greater vs. consensus of $2.80. Capital spending for fiscal year 2023 of $6.3B. Repurchase of $1.5B of FedEx common stock during fiscal 2023. The company expects to repurchase $1B common stock during the second quarter. In FY2023, the company expects to generate total cost savings of $2.2B to 2.7B.

Sep 17
FedEx Corporation's (NYSE:FDX) External Concerns Aren't Large Enough to Conceal Internal Weaknesses

FedEx Corporation's (NYSE:FDX) External Concerns Aren't Large Enough to Conceal Internal Weaknesses

FedEx Corporation (NYSE: FDX) faces one of the most significant single-day declines after it announced a recession. The company is now bracing for more challenging times ahead by restructuring its operations and undergoing cost-cutting measures.

Shareholder Returns

FDXUS LogisticsUS Market
7D-12.3%-9.8%-6.9%
1Y-36.9%-20.2%-23.7%

Return vs Industry: FDX underperformed the US Logistics industry which returned -19.1% over the past year.

Return vs Market: FDX underperformed the US Market which returned -23% over the past year.

Price Volatility

Is FDX's price volatile compared to industry and market?
FDX volatility
FDX Average Weekly Movement7.3%
Logistics Industry Average Movement5.3%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: FDX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: FDX's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1971446,000Raj Subramaniamhttps://www.fedex.com

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions. Its FedEx Ground segment provides day-certain delivery services to businesses and residences.

FedEx Fundamentals Summary

How do FedEx's earnings and revenue compare to its market cap?
FDX fundamental statistics
Market CapUS$37.19b
Earnings (TTM)US$3.58b
Revenue (TTM)US$94.75b

10.4x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FDX income statement (TTM)
RevenueUS$94.75b
Cost of RevenueUS$71.28b
Gross ProfitUS$23.47b
Other ExpensesUS$19.89b
EarningsUS$3.58b

Last Reported Earnings

Aug 31, 2022

Next Earnings Date

Dec 20, 2022

Earnings per share (EPS)13.77
Gross Margin24.77%
Net Profit Margin3.78%
Debt/Equity Ratio77.6%

How did FDX perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

28%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is FDX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FDX?

Other financial metrics that can be useful for relative valuation.

FDX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.7x
Enterprise Value/EBITDA7x
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

How does FDX's PE Ratio compare to its peers?

FDX PE Ratio vs Peers
The above table shows the PE ratio for FDX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.6x
ZTO ZTO Express (Cayman)
25.1x22.3%US$19.8b
UPS United Parcel Service
12.9x2.1%US$140.5b
CHRW C.H. Robinson Worldwide
11x-12.2%US$12.0b
EXPD Expeditors International of Washington
9.2x-11.8%US$14.2b
FDX FedEx
10.4x16.7%US$37.2b

Price-To-Earnings vs Peers: FDX is good value based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (14.6x).


Price to Earnings Ratio vs Industry

How does FDX's PE Ratio compare vs other companies in the Global Logistics Industry?

Price-To-Earnings vs Industry: FDX is good value based on its Price-To-Earnings Ratio (10.4x) compared to the Global Logistics industry average (13.2x)


Price to Earnings Ratio vs Fair Ratio

What is FDX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FDX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.4x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: FDX is good value based on its Price-To-Earnings Ratio (10.4x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).


Share Price vs Fair Value

What is the Fair Price of FDX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FDX ($142.9) is trading below our estimate of fair value ($476.51)

Significantly Below Fair Value: FDX is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is FedEx forecast to perform in the next 1 to 3 years based on estimates from 24 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FDX's forecast earnings growth (16.7% per year) is above the savings rate (1.9%).

Earnings vs Market: FDX's earnings (16.7% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: FDX's earnings are forecast to grow, but not significantly.

Revenue vs Market: FDX's revenue (3% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: FDX's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FDX's Return on Equity is forecast to be low in 3 years time (17.9%).


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Past Performance

How has FedEx performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


5.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FDX has high quality earnings.

Growing Profit Margin: FDX's current net profit margins (3.8%) are lower than last year (5.9%).


Past Earnings Growth Analysis

Earnings Trend: FDX's earnings have grown by 5.4% per year over the past 5 years.

Accelerating Growth: FDX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FDX had negative earnings growth (-29.6%) over the past year, making it difficult to compare to the Logistics industry average (77.7%).


Return on Equity

High ROE: FDX's Return on Equity (14.3%) is considered low.


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Financial Health

How is FedEx's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FDX's short term assets ($19.6B) exceed its short term liabilities ($13.8B).

Long Term Liabilities: FDX's short term assets ($19.6B) do not cover its long term liabilities ($46.9B).


Debt to Equity History and Analysis

Debt Level: FDX's net debt to equity ratio (50.4%) is considered high.

Reducing Debt: FDX's debt to equity ratio has reduced from 91.2% to 77.6% over the past 5 years.

Debt Coverage: FDX's debt is well covered by operating cash flow (47.9%).

Interest Coverage: FDX's interest payments on its debt are well covered by EBIT (9.2x coverage).


Balance Sheet


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Dividend

What is FedEx current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.22%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FDX's dividend (3.22%) is higher than the bottom 25% of dividend payers in the US market (1.66%).

High Dividend: FDX's dividend (3.22%) is low compared to the top 25% of dividend payers in the US market (4.57%).


Stability and Growth of Payments

Stable Dividend: FDX's dividends per share have been stable in the past 10 years.

Growing Dividend: FDX's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (27.7%), FDX's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (41.6%), FDX's dividend payments are well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Raj Subramaniam (56 yo)

3.5yrs

Tenure

US$5,170,126

Compensation

Mr. Rajesh Subramaniam, also known as Raj, has been President at FedEx Corporation since March 1, 2019 and serves as its Director since January 27, 2020. He serves as Chief Executive Officer of FedEx Corpo...


CEO Compensation Analysis

Raj Subramaniam's Compensation vs FedEx Earnings
How has Raj Subramaniam's remuneration changed compared to FedEx's earnings?
DateTotal Comp.SalaryCompany Earnings
Aug 31 2022n/an/a

US$4b

May 31 2022US$5mUS$1m

US$4b

Feb 28 2022n/an/a

US$5b

Nov 30 2021n/an/a

US$5b

Aug 31 2021n/an/a

US$5b

May 31 2021US$8mUS$988k

US$5b

Feb 28 2021n/an/a

US$3b

Nov 30 2020n/an/a

US$2b

Aug 31 2020n/an/a

US$2b

May 31 2020US$5mUS$968k

US$1b

Compensation vs Market: Raj's total compensation ($USD5.17M) is below average for companies of similar size in the US market ($USD13.05M).

Compensation vs Earnings: Raj's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FDX's management team is considered experienced (4.2 years average tenure).


Board Members

Experienced Board: FDX's board of directors are considered experienced (9.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FDX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NYSE:FDX Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
05 Aug 22SellUS$334,309Jill BrannonIndividual1,406US$237.77
06 Jul 22BuyUS$207,041Vincenzo VenaIndividual900US$230.05
30 Jun 22BuyUS$138,467Amy LaneIndividual607US$228.42

Ownership Breakdown

What is the ownership structure of FDX?
Owner TypeNumber of SharesOwnership Percentage
Private Companies1760.0%
State or Government105,7910.04%
Individual Insiders20,292,3037.8%
General Public49,614,80419.1%
Institutions190,206,71873.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 53.13% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
7.47%
Frederick Smith
19,434,345$2.8b0%no data
7.15%
The Vanguard Group, Inc.
18,615,322$2.7b-0.9%0.06%
6.7%
Dodge & Cox
17,426,647$2.5b0.57%1.52%
6.49%
BlackRock, Inc.
16,895,798$2.4b2.7%0.06%
5.16%
PRIMECAP Management Company
13,433,592$1.9b1.48%1.84%
3.65%
State Street Global Advisors, Inc.
9,485,432$1.4b-4.91%0.08%
1.93%
T. Rowe Price Group, Inc.
5,018,415$717.1m-10.54%0.09%
1.58%
Geode Capital Management, LLC
4,116,066$588.2m0.57%0.08%
1.43%
FMR LLC
3,721,015$531.7m14.78%0.05%
0.97%
J.P. Morgan Asset Management, Inc.
2,528,598$361.3m-1.7%0.07%
0.96%
Northern Trust Global Investments
2,510,392$358.7m-3.81%0.08%
0.94%
Hotchkis and Wiley Capital Management, LLC
2,435,313$348.0m3.45%1.42%
0.91%
Dimensional Fund Advisors LP
2,355,726$336.6m-2.04%0.09%
0.88%
Norges Bank Investment Management
2,292,873$327.7m0%0.05%
0.83%
BNY Mellon Asset Management
2,171,595$310.3m22.81%0.07%
0.79%
Invesco Ltd.
2,050,210$293.0m33.18%0.1%
0.71%
Morgan Stanley, Investment Banking and Brokerage Investments
1,841,547$263.2m7.96%0.05%
0.71%
UBS Asset Management
1,839,426$262.9m-3.55%0.05%
0.64%
Legal & General Investment Management Limited
1,655,458$236.6m-1.61%0.07%
0.63%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
1,632,302$233.3m432.92%0.1%
0.58%
LSV Asset Management
1,508,718$215.6m22.05%0.46%
0.57%
Eaton Vance Management
1,495,310$213.7m13.04%0.08%
0.53%
Southeastern Asset Management, Inc.
1,370,512$195.8m-1.3%3.64%
0.49%
Charles Schwab Investment Management, Inc.
1,287,779$184.0m0.26%0.05%
0.43%
The Public Investment Fund of The Kingdom of Saudi Arabia
1,127,426$161.1m0%0.06%

Company Information

FedEx Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: FedEx Corporation
  • Ticker: FDX
  • Exchange: NYSE
  • Founded: 1971
  • Industry: Air Freight and Logistics
  • Sector: Transportation
  • Implied Market Cap: US$37.185b
  • Shares outstanding: 260.22m
  • Website: https://www.fedex.com

Number of Employees


Location

  • FedEx Corporation
  • 942 South Shady Grove Road
  • Memphis
  • Tennessee
  • 38120
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FDXNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1992
FDX *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJan 1992
FDXDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
FDXXTRA (XETRA Trading Platform)YesCommon StockDEEURJan 1992
FDXSWX (SIX Swiss Exchange)YesCommon StockCHCHFJan 1992
0QZXLSE (London Stock Exchange)YesCommon StockGBUSDJan 1992
FDXWBAG (Wiener Boerse AG)YesCommon StockATEURJan 1992
FDXETLX (Eurotlx)YesCommon StockITEURJan 1992
FDXBVL (Bolsa de Valores de Lima)YesCommon StockPEUSDJan 1992
FDXBASE (Buenos Aires Stock Exchange)CEDEAR EACH 10 REP 1ARARSNov 2002
FDXDBASE (Buenos Aires Stock Exchange)CEDEAR EACH 10 REP 1ARUSDNov 2002
FDXB34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REPR 1 COM USD0.10BRBRLAug 2012

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/26 00:00
End of Day Share Price2022/09/26 00:00
Earnings2022/08/31
Annual Earnings2022/05/31


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.