Financials FedEx Corporation

Equities

FDX

US31428X1063

Air Freight & Logistics

Market Closed - Nyse 04:00:02 2024-02-20 pm EST 5-day change 1st Jan Change
239.5 USD +0.82% Intraday chart for FedEx Corporation +1.33% -5.31%

Valuation

Fiscal Period: May 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 40,201 34,109 83,532 58,206 54,790 59,372 - -
Enterprise Value (EV) 1 55,463 51,231 97,324 71,573 68,546 74,275 73,128 73,866
P/E ratio 76 x 26.6 x 16.2 x 15.7 x 14.1 x 14.3 x 11.3 x 9.78 x
Yield 1.69% 1.99% 0.86% 1.51% 2.69% 2.13% 2.29% 2.44%
Capitalization / Revenue 0.58 x 0.49 x 0.99 x 0.62 x 0.61 x 0.67 x 0.64 x 0.62 x
EV / Revenue 0.8 x 0.74 x 1.16 x 0.77 x 0.76 x 0.84 x 0.79 x 0.77 x
EV / EBITDA 6.47 x 7.6 x 9.76 x 6.61 x 7.18 x 7.12 x 6.2 x 5.8 x
EV / FCF 396 x -68.4 x 23.6 x 23.3 x 26 x 23.4 x 20 x 15.7 x
FCF Yield 0.25% -1.46% 4.24% 4.29% 3.85% 4.28% 4.99% 6.36%
Price to Book 2.3 x 1.87 x 3.49 x 2.4 x 2.14 x 2.19 x 1.98 x 1.74 x
Nbr of stocks (in thousands) 260,575 261,250 265,342 259,178 251,352 249,893 - -
Reference price 2 154.3 130.6 314.8 224.6 218.0 237.6 237.6 237.6
Announcement Date 6/25/19 6/30/20 6/24/21 6/23/22 6/20/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: May 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 69,693 69,217 84,000 93,512 90,155 88,281 92,222 96,345
EBITDA 1 8,573 6,737 9,976 10,835 9,549 10,425 11,790 12,736
EBIT 1 5,220 3,122 6,180 6,865 5,373 6,193 7,377 8,241
Operating Margin 7.49% 4.51% 7.36% 7.34% 5.96% 7.02% 8% 8.55%
Earnings before Tax (EBT) 1 655 1,669 6,674 4,896 5,363 5,735 6,892 7,294
Net income 1 540 1,286 5,230 3,826 3,972 4,189 5,149 5,664
Net margin 0.77% 1.86% 6.23% 4.09% 4.41% 4.75% 5.58% 5.88%
EPS 2 2.030 4.900 19.45 14.33 15.48 16.60 20.98 24.28
Free Cash Flow 1 140 -749 4,125 3,069 2,641 3,178 3,649 4,697
FCF margin 0.2% -1.08% 4.91% 3.28% 2.93% 3.6% 3.96% 4.88%
FCF Conversion (EBITDA) 1.63% - 41.35% 28.32% 27.66% 30.48% 30.95% 36.88%
FCF Conversion (Net income) 25.93% - 78.87% 80.21% 66.49% 75.86% 70.87% 82.94%
Dividend per Share 2 2.600 2.600 2.700 3.400 5.860 5.054 5.452 5.795
Announcement Date 6/25/19 6/30/20 6/24/21 6/23/22 6/20/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: May 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 22,000 23,474 23,641 24,394 23,242 22,800 22,169 21,930 21,681 22,165 22,086 22,333 22,442 23,147 23,115
EBITDA 1 2,465 2,670 2,448 3,252 2,253 2,258 2,196 2,842 2,661 2,461 2,309 3,005 2,842 2,784 2,738
EBIT 1 1,494 1,680 1,460 2,234 1,230 1,212 1,165 1,767 1,590 1,421 1,273 1,916 1,755 1,712 1,678
Operating Margin 6.79% 7.16% 6.18% 9.16% 5.29% 5.32% 5.26% 8.06% 7.33% 6.41% 5.76% 8.58% 7.82% 7.4% 7.26%
Earnings before Tax (EBT) 1 1,457 1,380 1,375 684 1,154 1,059 1,022 2,128 1,423 1,202 1,236 1,817 1,687 1,624 1,628
Net income 1 1,112 1,040 1,100 558 875 788 771 1,538 1,080 900 894.9 1,337 1,275 1,220 1,214
Net margin 5.05% 4.43% 4.65% 2.29% 3.76% 3.46% 3.48% 7.01% 4.98% 4.06% 4.05% 5.99% 5.68% 5.27% 5.25%
EPS 2 4.090 3.880 4.200 2.130 3.330 3.070 3.050 6.050 4.230 3.550 3.513 5.362 5.097 4.954 4.924
Dividend per Share 2 0.7500 0.7500 0.7500 1.150 1.150 1.150 - - 1.260 - 1.274 1.274 1.338 1.338 1.353
Announcement Date 9/21/21 12/16/21 3/17/22 6/23/22 9/15/22 12/20/22 3/16/23 6/20/23 9/20/23 12/19/23 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: May 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 15,262 17,122 13,792 13,367 13,756 14,903 13,756 14,494
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.78 x 2.541 x 1.383 x 1.234 x 1.441 x 1.43 x 1.167 x 1.138 x
Free Cash Flow 1 140 -749 4,125 3,069 2,641 3,178 3,649 4,697
ROE (net income / shareholders' equity) 22.2% 13.8% 23% 22.4% 15% 16.3% 18.1% 17.9%
ROA (Net income/ Total Assets) 7.73% 3.9% 6.26% 6.52% 4.44% 5.01% 5.91% 6.3%
Assets 1 6,986 32,985 83,592 58,680 89,550 83,632 87,061 89,903
Book Value Per Share 2 67.00 69.80 90.20 93.80 102.0 108.0 120.0 137.0
Cash Flow per Share 2 21.20 19.50 37.80 37.00 34.40 35.70 41.10 44.20
Capex 1 5,500 5,868 5,884 6,800 6,200 5,579 5,898 5,718
Capex / Sales 7.89% 8.48% 7% 7.27% 6.88% 6.32% 6.4% 5.94%
Announcement Date 6/25/19 6/30/20 6/24/21 6/23/22 6/20/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
33
Last Close Price
237.6 USD
Average target price
295.2 USD
Spread / Average Target
+24.23%
Consensus
+229% on MICROSOFT CORPORATION since our purchase on January 11, 2019
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