Hey All,
Thanks for visiting my FedEx Financial Report page. On this page, you will be able to find preliminary information about FedEx's current financial performance as well as some historical track records and trends.
For a more detailed examination of FedEx's financial performance, I offer two reports, which are "A Beginner's Guide to FedEx Financial Analysis" and "FedEx Financial Report by Paul Borosky, MBA." Both reports are written by myself, Paul Borosky, MBA., Doctoral Candidate, and published author, and include:
- Summarized income statements for the last 5 years.
- Summarized balance sheets for the last 5 years.
- Five years’ worth of over twenty common financial ratios presented with formulas, calculations, and analysis tips for each ratio.
- Line by line description, explanation, and analysis tip for most financial statement line items and financial ratios.
- Professional financial analysis tips are provided in each section to help YOU conduct your OWN financial analysis!
- Each section includes an “in other words” segment. This is where I use plain English to explain concepts.
For a MORE in-depth review of the company's financial statements and ratios, make sure to buy my "FedEx Financial Report". The financial report includes all aspects of my "Beginner's Guide" plus a whole lot more...
- Professional financial analysis of important income statements, balance sheets, and financial ratio trends.
- "Letter Grade" is assigned to most financial statement line items and financial ratios to help you better understand their overall trends for the last 5 years (Starting in 2021).
- Overall financial analysis summary for the company.
Enjoy the preliminary information and for a more detailed analysis, buy the financial report!
Sincerely,
Paul, MBA.
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Sample Financial Report


FedEx: Brief Summary
FedEx (FDX) has its home headquarters in Memphis, Tennessee. The organization competes in the integrated freight and logistics industry, specifically the industrial sector. At present, there are proximally 500,000 employees working full-time for FedEx.
From a financial perspective, FedEx Corporation currently has a market cap of $41.2 billion. Their stock price for the last 52 weeks has ranged from $88.69 to $178.50. As for dividends, the organization does pay out quarterly dividends and a dividend yield of 1.64%. His current beta is 1.33. This indicates that the organization’s stock is slight to moderately riskier as compared to the overall market.
FedEx Financial Report Sources
“FedEx 2022 Company Analysis… For Beginners: Financial Statements and Financial Ratios: Defined, Discussed, and Analyzed for 5 Years” was written by, Paul Borosky, MBA., and owner of Quality Business Plan. In this report, I used FedEx's 2022 10k, 2017 10k annual report, 2016 10k annual report, 2018 10k annual report, and 2019 10k annual report as the basis for information gathering.
Section 1: FedEx Income Statement Analyzed
In this section, I walk through a broad definition of what an income statement is and why it is essential. From this, I then discuss and define income statement line items, such as revenues, gross profits, etc., in detail. After each line item is defined and discussed, I finally offer a summary analysis of FedEx's significant income statement line item trends in most cases.
FedEx: Revenue Growth.
FedEx’s revenues were $65.4 billion in 2018. In 2022, the organization’s revenues increased to $93.5 billion. In the last five years, the average growth rate annually for the organization was 9.6%. From my experience, this growth rate is above average for most multinational organizations. This growth trend indicates the organization is taking steps to continually increase market share for the firm year-over-year. From an investor’s perspective, this is a good trend.
Analyst Grade: A
FedEx 2021 Summary Income Statement |
|||||
Column1 |
2021 |
2020 | 2019 | 2018 |
2017 |
Revenues |
83,959 |
69,217 | 69,693 | 65,450 |
60,319 |
COGS | |||||
Gross Profit |
83,959 |
69,217 | 69,693 | 65,450 |
60,319 |
SG&A |
30,173 |
25,031 | 24,776 | 23,795 |
21,989 |
Depreciation |
3,793 |
3,615 | 3,353 |
3,095 |
2,995 |
R & D | - | - | - | - | - |
Other | - | - | - | ||
Total Operating Expenses |
78,102 |
66,800 | 65,227 | 61,178 |
55,753 |
EBIT |
5,857 |
2,417 | 4,466 | 4,272 |
4,566 |
Other Income | |||||
Interest Expense |
793 |
672 | 588 | 558 |
512 |
EBT |
6,674 |
1,669 | 655 | 4,353 |
4,579 |
Taxes |
1,443 |
383 | 115 | (219) |
1,582 |
Net Income |
5,231 |
1,286 | 540 | 4,572 |
2,997 |
Section 2: FedEx Balance Sheet Analyzed
For the FedEx balance sheet, I again go through each vital line item from the balance sheet. In reviewing each line item, I will define their balance sheets line items, such as cash, property, plant and equipment, and liabilities. Next, I then offer a summary analysis of their important balance sheet line items.
FedEx: Cash
FedEx’s cash holding was $3.2 billion in 2018, or 5% of sales. In 2022, the organization’s cash holdings would increase to $6.8 billion or 7.4% of sales. This trend indicates that the company has more cash on hand as compared to sales year-over-year. From an investor’s perspective, this is not a good trend. A better trend would be for the organization to have a steady cash position as compared to the sales.
Analyst Grade: B
FedEx 2021 Summary Balance Sheet |
|||||
Column1 |
2021 |
2020 | 2019 | 2018 |
2017 |
Cash |
7,087 |
4,881 | 2,319 | 3,265 |
3,969 |
Short Term Investment | - | - | - | - | - |
Account Receivable |
7,087 |
4,881 | 9,116 | 8,481 |
7,599 |
Inventory |
587 |
572 | 553 | 525 |
514 |
Other | |||||
Current Assets |
20,580 |
16,383 | 13,086 | 13,341 |
12,628 |
Net PPE |
35,752 |
33,608 | 30,429 | 28,154 |
25,981 |
Goodwill |
6,992 |
6,372 | 6,884 | 6,973 |
7,154 |
Other | |||||
Total Assets |
82,777 |
73,537 | 54,403 | 52,330 |
48,552 |
Accounts Payable |
3,841 |
3,269 | 3,030 | 2,977 |
2,752 |
Accrued Expense |
2,903 |
1,569 | 3,278 | 3,131 |
3,230 |
Accrued Taxes | |||||
Notes Payable | |||||
LT Debt - Current |
146 |
51 | 964 | 1,342 |
22 |
Other | |||||
Total Current Liabilities |
13,660 |
10,344 | 9,013 | 9,627 |
7,918 |
LT Debt |
20,733 |
21,952 | 16,617 | 15,243 |
14,909 |
Other | |||||
Total Liabilities |
58,609 |
55,242 | 36,646 | 32,914 |
32,479 |
Common Stock |
3,513 |
3,388 | 3,231 | 3,117 |
3,005 |
Treasury |
8,430 |
9,162 | 9,289 | 7,978 |
7,382 |
Retained Earnings |
29,817 |
25,216 | 24,648 | 24,823 |
20,833 |
Other | |||||
Total Equity |
24,168 |
18,295 | 17,757 | 19,416 |
16,073 |
Total Equity & Liability |
82,777 |
73,537 | 54,403 | 52,330 |
48,552 |
Section 3: FedEx Financial Ratios Analyzed
For this section, I have chosen several different financial ratios to review for FedEx. In reviewing each of their financial ratios, I first start with defining the financial ratio. Next, I supply the financial formula for calculating the specific ratio. Finally, I offer a brief analysis of their important Financial ratios.
FedEx Current Ratio.
FedEx’s current ratio was 1.39 in 2018. As of 2020, FedEx’s current ratio increased to 1.58. However, in the last two years, the organization has taken steps to reduce its current ratio, which resulted in 1.4 in 2022. If the trend continues, then the organization would be more in line with other multinational organizations, which drive to achieve a 1.0 current ratio. However, if their previous performance is any indicator, then investors should not hold their breath for this achievement. From an investor’s perspective, this is an ok trend.
Analyst Grade: B
FedEx Return on Assets.
FedEx’s return on assets (ROA) was 8.7% in 2018. As of 2022, the return on assets was 4.4%. The decrease in return on assets indicates that the organization is not utilizing total assets under management in an efficient manner year-over-year from a revenue generation perspective. From an investor’s perspective, this is a below-average trend.
Analyst Grade: C