FEDEX CORP (FDX) Fundamental Analysis & Valuation
NYSE:FDX • US31428X1063
382.53 USD
-4.72 (-1.22%)
At close: Mar 3, 2026
381.2 USD
-1.33 (-0.35%)
After Hours: 3/3/2026, 8:09:24 PM
This FDX fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 6 out of 10 to FDX. FDX was compared to 23 industry peers in the Air Freight & Logistics industry. While FDX belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. FDX has a decent growth rate and is not valued too expensively. FDX also has an excellent dividend rating.
1. FDX Profitability Analysis
1.1 Basic Checks
- FDX had positive earnings in the past year.
- In the past year FDX had a positive cash flow from operations.
- FDX had positive earnings in each of the past 5 years.
- In the past 5 years FDX always reported a positive cash flow from operatings.
1.2 Ratios
- FDX has a Return On Assets of 4.86%. This is in the better half of the industry: FDX outperforms 78.26% of its industry peers.
- Looking at the Return On Equity, with a value of 15.39%, FDX belongs to the top of the industry, outperforming 82.61% of the companies in the same industry.
- With a decent Return On Invested Capital value of 6.56%, FDX is doing good in the industry, outperforming 73.91% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for FDX is significantly below the industry average of 12.02%.
- The 3 year average ROIC (6.03%) for FDX is below the current ROIC(6.56%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.86% | ||
| ROE | 15.39% | ||
| ROIC | 6.56% |
ROA(3y)4.73%
ROA(5y)4.99%
ROE(3y)15.15%
ROE(5y)16.47%
ROIC(3y)6.03%
ROIC(5y)6.27%
1.3 Margins
- FDX has a Profit Margin of 4.81%. This is amongst the best in the industry. FDX outperforms 82.61% of its industry peers.
- In the last couple of years the Profit Margin of FDX has grown nicely.
- With an excellent Operating Margin value of 7.11%, FDX belongs to the best of the industry, outperforming 86.96% of the companies in the same industry.
- FDX's Operating Margin has improved in the last couple of years.
- FDX has a better Gross Margin (71.27%) than 95.65% of its industry peers.
- FDX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.11% | ||
| PM (TTM) | 4.81% | ||
| GM | 71.27% |
OM growth 3Y-0.28%
OM growth 5Y10.92%
PM growth 3Y4.41%
PM growth 5Y20.17%
GM growth 3Y1.06%
GM growth 5Y0.21%
2. FDX Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FDX is destroying value.
- FDX has less shares outstanding than it did 1 year ago.
- Compared to 5 years ago, FDX has less shares outstanding
- FDX has a worse debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 2.85 indicates that FDX is not a great score, but indicates only limited risk for bankruptcy at the moment.
- With a Altman-Z score value of 2.85, FDX perfoms like the industry average, outperforming 56.52% of the companies in the same industry.
- FDX has a debt to FCF ratio of 4.87. This is a neutral value as FDX would need 4.87 years to pay back of all of its debts.
- With a decent Debt to FCF ratio value of 4.87, FDX is doing good in the industry, outperforming 78.26% of the companies in the same industry.
- FDX has a Debt/Equity ratio of 0.72. This is a neutral value indicating FDX is somewhat dependend on debt financing.
- FDX has a worse Debt to Equity ratio (0.72) than 65.22% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.72 | ||
| Debt/FCF | 4.87 | ||
| Altman-Z | 2.85 |
ROIC/WACC0.86
WACC7.63%
2.3 Liquidity
- A Current Ratio of 1.27 indicates that FDX should not have too much problems paying its short term obligations.
- With a Current ratio value of 1.27, FDX is not doing good in the industry: 65.22% of the companies in the same industry are doing better.
- FDX has a Quick Ratio of 1.23. This is a normal value and indicates that FDX is financially healthy and should not expect problems in meeting its short term obligations.
- FDX has a worse Quick ratio (1.23) than 65.22% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.27 | ||
| Quick Ratio | 1.23 |
3. FDX Growth Analysis
3.1 Past
- The Earnings Per Share has grown by an nice 13.65% over the past year.
- FDX shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 13.92% yearly.
- Looking at the last year, FDX shows a small growth in Revenue. The Revenue has grown by 3.09% in the last year.
- Measured over the past years, FDX shows a small growth in Revenue. The Revenue has been growing by 4.90% on average per year.
EPS 1Y (TTM)13.65%
EPS 3Y-4.09%
EPS 5Y13.92%
EPS Q2Q%19.01%
Revenue 1Y (TTM)3.09%
Revenue growth 3Y-2.03%
Revenue growth 5Y4.9%
Sales Q2Q%6.84%
3.2 Future
- The Earnings Per Share is expected to grow by 11.51% on average over the next years. This is quite good.
- FDX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.43% yearly.
EPS Next Y2.72%
EPS Next 2Y8.37%
EPS Next 3Y9.15%
EPS Next 5Y11.51%
Revenue Next Year6.02%
Revenue Next 2Y5.07%
Revenue Next 3Y4.7%
Revenue Next 5Y4.43%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
- The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. FDX Valuation Analysis
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 19.89, which indicates a rather expensive current valuation of FDX.
- Based on the Price/Earnings ratio, FDX is valued a bit cheaper than 78.26% of the companies in the same industry.
- FDX is valuated rather cheaply when we compare the Price/Earnings ratio to 26.83, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 17.87, the valuation of FDX can be described as rather expensive.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of FDX indicates a rather cheap valuation: FDX is cheaper than 86.96% of the companies listed in the same industry.
- FDX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.95.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.89 | ||
| Fwd PE | 17.87 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FDX is valued cheaper than 82.61% of the companies in the same industry.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of FDX indicates a rather cheap valuation: FDX is cheaper than 91.30% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 20.69 | ||
| EV/EBITDA | 9.79 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FDX does not grow enough to justify the current Price/Earnings ratio.
- The excellent profitability rating of FDX may justify a higher PE ratio.
PEG (NY)7.31
PEG (5Y)1.43
EPS Next 2Y8.37%
EPS Next 3Y9.15%
5. FDX Dividend Analysis
5.1 Amount
- FDX has a Yearly Dividend Yield of 1.50%. Purely for dividend investing, there may be better candidates out there.
- FDX's Dividend Yield is rather good when compared to the industry average which is at 1.08. FDX pays more dividend than 86.96% of the companies in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.82, FDX has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.5% |
5.2 History
- The dividend of FDX is nicely growing with an annual growth rate of 16.41%!
- FDX has paid a dividend for at least 10 years, which is a reliable track record.
- FDX has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)16.41%
Div Incr Years4
Div Non Decr Years22
5.3 Sustainability
- 31.16% of the earnings are spent on dividend by FDX. This is a low number and sustainable payout ratio.
- FDX's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP31.16%
EPS Next 2Y8.37%
EPS Next 3Y9.15%
FDX Fundamentals: All Metrics, Ratios and Statistics
382.53
-4.72 (-1.22%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryAir Freight & Logistics
Earnings (Last)12-18 2025-12-18/amc
Earnings (Next)03-19 2026-03-19/amc
Inst Owners80.48%
Inst Owner Change1.35%
Ins Owners0.26%
Ins Owner Change0.17%
Market Cap89.94B
Revenue(TTM)90.09B
Net Income(TTM)4.33B
Analysts74.86
Price Target377.76 (-1.25%)
Short Float %1.61%
Short Ratio1.8
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.5% |
Yearly Dividend5.55
Dividend Growth(5Y)16.41%
DP31.16%
Div Incr Years4
Div Non Decr Years22
Ex-Date03-09 2026-03-09 (1.45)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.88%
Min EPS beat(2)5.52%
Max EPS beat(2)16.25%
EPS beat(4)3
Avg EPS beat(4)5.91%
Min EPS beat(4)-1.52%
Max EPS beat(4)16.25%
EPS beat(8)6
Avg EPS beat(8)1.56%
EPS beat(12)8
Avg EPS beat(12)4.27%
EPS beat(16)9
Avg EPS beat(16)1.64%
Revenue beat(2)2
Avg Revenue beat(2)1.82%
Min Revenue beat(2)1.69%
Max Revenue beat(2)1.95%
Revenue beat(4)4
Avg Revenue beat(4)1.22%
Min Revenue beat(4)0.3%
Max Revenue beat(4)1.95%
Revenue beat(8)4
Avg Revenue beat(8)-0.32%
Revenue beat(12)4
Avg Revenue beat(12)-1.16%
Revenue beat(16)4
Avg Revenue beat(16)-1.44%
PT rev (1m)19.97%
PT rev (3m)35.77%
EPS NQ rev (1m)1.38%
EPS NQ rev (3m)-2.99%
EPS NY rev (1m)-0.01%
EPS NY rev (3m)2.67%
Revenue NQ rev (1m)0.21%
Revenue NQ rev (3m)1.21%
Revenue NY rev (1m)0.12%
Revenue NY rev (3m)1.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.89 | ||
| Fwd PE | 17.87 | ||
| P/S | 1 | ||
| P/FCF | 20.69 | ||
| P/OCF | 10.97 | ||
| P/B | 3.2 | ||
| P/tB | 4.18 | ||
| EV/EBITDA | 9.79 |
EPS(TTM)19.23
EY5.03%
EPS(NY)21.41
Fwd EY5.6%
FCF(TTM)18.49
FCFY4.83%
OCF(TTM)34.87
OCFY9.11%
SpS383.18
BVpS119.68
TBVpS91.5
PEG (NY)7.31
PEG (5Y)1.43
Graham Number227.56
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.86% | ||
| ROE | 15.39% | ||
| ROCE | 8.78% | ||
| ROIC | 6.56% | ||
| ROICexc | 7.2% | ||
| ROICexgc | 8% | ||
| OM | 7.11% | ||
| PM (TTM) | 4.81% | ||
| GM | 71.27% | ||
| FCFM | 4.83% |
ROA(3y)4.73%
ROA(5y)4.99%
ROE(3y)15.15%
ROE(5y)16.47%
ROIC(3y)6.03%
ROIC(5y)6.27%
ROICexc(3y)6.59%
ROICexc(5y)6.9%
ROICexgc(3y)7.32%
ROICexgc(5y)7.71%
ROCE(3y)8.07%
ROCE(5y)8.39%
ROICexgc growth 3Y-3.37%
ROICexgc growth 5Y12.94%
ROICexc growth 3Y-3.24%
ROICexc growth 5Y13.26%
OM growth 3Y-0.28%
OM growth 5Y10.92%
PM growth 3Y4.41%
PM growth 5Y20.17%
GM growth 3Y1.06%
GM growth 5Y0.21%
F-Score7
Asset Turnover1.01
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.72 | ||
| Debt/FCF | 4.87 | ||
| Debt/EBITDA | 1.9 | ||
| Cap/Depr | 89.89% | ||
| Cap/Sales | 4.27% | ||
| Interest Coverage | 7.48 | ||
| Cash Conversion | 76.72% | ||
| Profit Quality | 100.37% | ||
| Current Ratio | 1.27 | ||
| Quick Ratio | 1.23 | ||
| Altman-Z | 2.85 |
F-Score7
WACC7.63%
ROIC/WACC0.86
Cap/Depr(3y)121.23%
Cap/Depr(5y)137.83%
Cap/Sales(3y)5.79%
Cap/Sales(5y)6.32%
Profit Quality(3y)70.96%
Profit Quality(5y)74.93%
High Growth Momentum
Growth
EPS 1Y (TTM)13.65%
EPS 3Y-4.09%
EPS 5Y13.92%
EPS Q2Q%19.01%
EPS Next Y2.72%
EPS Next 2Y8.37%
EPS Next 3Y9.15%
EPS Next 5Y11.51%
Revenue 1Y (TTM)3.09%
Revenue growth 3Y-2.03%
Revenue growth 5Y4.9%
Sales Q2Q%6.84%
Revenue Next Year6.02%
Revenue Next 2Y5.07%
Revenue Next 3Y4.7%
Revenue Next 5Y4.43%
EBIT growth 1Y10.09%
EBIT growth 3Y-2.31%
EBIT growth 5Y16.35%
EBIT Next Year75.55%
EBIT Next 3Y26.8%
EBIT Next 5Y16.61%
FCF growth 1Y6.05%
FCF growth 3Y-0.97%
FCF growth 5YN/A
OCF growth 1Y-15.72%
OCF growth 3Y-10.55%
OCF growth 5Y6.66%
FEDEX CORP / FDX FAQ
Can you provide the ChartMill fundamental rating for FEDEX CORP?
ChartMill assigns a fundamental rating of 6 / 10 to FDX.
What is the valuation status of FEDEX CORP (FDX) stock?
ChartMill assigns a valuation rating of 5 / 10 to FEDEX CORP (FDX). This can be considered as Fairly Valued.
What is the profitability of FDX stock?
FEDEX CORP (FDX) has a profitability rating of 8 / 10.
Can you provide the financial health for FDX stock?
The financial health rating of FEDEX CORP (FDX) is 4 / 10.
How sustainable is the dividend of FEDEX CORP (FDX) stock?
The dividend rating of FEDEX CORP (FDX) is 7 / 10 and the dividend payout ratio is 31.16%.