FedEx Corporation (FDX) Key Metrics
FDX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $69.47B
- Enterprise value
- $98.62B
- P/E (TTM)
- 15.8 10-yr median 12.8
- Forward P/E
- 14.2
- PEG ratio
- 1.23
- Price / sales
- 0.7 10-yr median 0.6
- Price / book
- 2.2 10-yr median 1.9
- EV / EBITDA
- 8.9 10-yr median 8.3
- Dividend yield
- 1.66% $4.88 a year
- Beta
- 1.33
FDX key metrics, FY2017–FY2026
Fiscal year ended May 31, 2026 · U.S. dollarsFDX valuation Price multiples at each fiscal year-end price.
FDX returns How much profit the business earns on the capital it uses.
FDX per-share figures Results divided by the shares outstanding at year-end.
FDX financial health Debt, liquidity and how easily interest is covered.
FDX efficiency & capital use Working capital cycle and where the cash goes.
FDX valuation history
FDX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FDX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FDX cash returned to shareholders
FDX price vs earnings per share
FDX key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $79.30B | $42.71B | $51.36B | $44.97B | $48.14B | $67.98B | $27.56B | $32.94B | $54.60B | $42.17B |
| Enterprise value | $108.93B | $74.55B | $82.58B | $76.44B | $78.43B | $97.36B | $58.80B | $48.21B | $67.92B | $53.14B |
| P/E ratio | 17.9 | 10.4 | 11.9 | 11.3 | 12.6 | 13.0 | 21.4 | 61.0 | 11.9 | 14.1 |
| Price / sales | 0.8 | 0.5 | 0.6 | 0.5 | 0.5 | 0.8 | 0.4 | 0.5 | 0.8 | 0.7 |
| Price / book | 2.5 | 1.5 | 1.9 | 1.7 | 1.9 | 2.8 | 1.5 | 1.9 | 2.8 | 2.6 |
| Price / free cash flow | 15.5 | 14.3 | 16.4 | 17.0 | 15.7 | 16.0 | — | 267.8 | — | — |
| Price / operating cash flow | 8.9 | 6.1 | 6.2 | 5.1 | 4.9 | 6.7 | 5.4 | 5.9 | 11.7 | 8.6 |
| EV / sales | 1.2 | 0.8 | 0.9 | 0.8 | 0.8 | 1.2 | 0.8 | 0.7 | 1.0 | 0.9 |
| EV / EBITDA | 9.8 | 7.1 | 7.6 | 7.5 | 8.2 | 8.6 | 9.9 | 10.5 | 8.5 | 6.6 |
| EV / free cash flow | 21.3 | 25.0 | 26.3 | 28.9 | 25.6 | 22.9 | — | 391.9 | — | — |
| Earnings yield | 5.6% | 9.6% | 8.4% | 8.8% | 7.9% | 7.7% | 4.7% | 1.6% | 8.4% | 7.1% |
| Free cash flow yield | 6.5% | 7.0% | 6.1% | 5.9% | 6.4% | 6.3% | −2.8% | 0.4% | −1.8% | −0.4% |
| Dividend yield | 1.7% | 3.1% | 2.5% | 2.6% | 1.6% | 1.0% | 2.5% | 2.1% | 1.0% | 1.0% |
| Shareholder yield (dividends + buybacks) | 2.7% | 10.2% | 7.3% | 6.0% | 6.3% | 1.0% | 2.5% | 6.6% | 2.8% | 2.2% |
| Share price at fiscal year-end | $331.79 | $175.75 | $204.64 | $175.65 | $180.97 | $253.67 | $105.21 | $124.32 | $200.74 | $156.20 |
| Per share | ||||||||||
| Revenue per share | $396.32 | $361.84 | $349.37 | $352.17 | $351.55 | $312.66 | $264.19 | $262.99 | $240.62 | $223.40 |
| Earnings per share | $18.55 | $16.84 | $17.25 | $15.52 | $14.38 | $19.52 | $4.91 | $2.04 | $16.81 | $11.10 |
| Operating cash flow per share | $37.34 | $28.95 | $33.12 | $34.43 | $36.96 | $37.82 | $19.45 | $21.18 | $17.18 | $18.26 |
| Free cash flow per share | $21.41 | $12.27 | $12.49 | $10.32 | $11.54 | $15.86 | −$2.94 | $0.46 | −$3.64 | −$0.69 |
| Cash per share | $55.69 | $22.93 | $25.90 | $26.78 | $25.93 | $26.44 | $18.63 | $8.75 | $12.00 | $14.70 |
| Book value per share | $132.41 | $115.53 | $109.89 | $101.91 | $93.76 | $90.18 | $69.83 | $67.01 | $71.38 | $59.53 |
| Tangible book value per share | $104.24 | $87.51 | $83.58 | $75.86 | $68.02 | $62.78 | $44.28 | $39.46 | $43.98 | $31.07 |
| Dividends per share | $5.75 | $5.51 | $5.02 | $4.60 | $2.98 | $2.56 | $2.59 | $2.58 | $1.97 | $1.58 |
| Capex per share | $15.94 | $16.69 | $20.62 | $24.12 | $25.42 | $21.96 | $22.40 | $20.72 | $20.82 | $18.95 |
| Debt per share | $179.68 | $153.98 | $150.27 | $149.73 | $139.83 | $136.05 | $137.87 | $66.34 | $60.97 | $55.30 |
| Shares outstanding | 239.0M | 243.0M | 251.0M | 256.0M | 266.0M | 268.0M | 262.0M | 265.0M | 272.0M | 270.0M |
| Change in shares outstanding | −1.6% | −3.2% | −2.0% | −3.8% | −0.7% | +2.3% | −1.1% | −2.6% | +0.7% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.8% | 14.7% | 16.1% | 15.6% | 15.6% | 24.6% | 7.1% | 2.9% | 25.8% | 18.6% |
| Return on invested capital (ROIC) | 8.4% | 7.7% | 8.1% | 7.0% | 9.4% | 9.2% | 5.3% | 12.0% | 17.2% | 13.1% |
| Return on assets (ROA) | 4.8% | 4.7% | 5.0% | 4.6% | 4.5% | 6.7% | 2.0% | 1.0% | 9.1% | 6.2% |
| Return on tangible assets | 4.8% | 5.1% | 5.4% | 4.9% | 4.8% | 6.9% | 1.9% | 1.1% | 10.2% | 7.3% |
| Free cash flow margin | 5.4% | 3.4% | 3.6% | 2.9% | 3.3% | 5.1% | −1.1% | 0.2% | −1.5% | −0.3% |
| Income quality (OCF / net income) | 2.01 | 1.72 | 1.92 | 2.22 | 2.57 | 1.94 | 3.96 | 10.39 | 1.02 | 1.64 |
| Financial health | ||||||||||
| Total debt | $42.94B | $37.42B | $37.72B | $38.33B | $37.19B | $36.46B | $36.12B | $17.58B | $16.59B | $14.93B |
| Cash & short-term investments | $13.31B | $5.57B | $6.50B | $6.86B | $6.90B | $7.09B | $4.88B | $2.32B | $3.27B | $3.97B |
| Net debt | $29.63B | $31.84B | $31.22B | $31.48B | $30.30B | $29.38B | $31.24B | $15.26B | $13.32B | $10.96B |
| Debt / equity | 1.36 | 1.33 | 1.37 | 1.47 | 1.49 | 1.51 | 1.97 | 0.99 | 0.85 | 0.93 |
| Debt / assets | 0.43 | 0.43 | 0.43 | 0.44 | 0.43 | 0.44 | 0.49 | 0.32 | 0.32 | 0.31 |
| Net debt / EBITDA | 2.66 | 3.03 | 2.87 | 3.08 | 3.17 | 2.61 | 5.25 | 3.32 | 1.66 | 1.36 |
| Current ratio | 1.48 | 1.19 | 1.36 | 1.37 | 1.43 | 1.51 | 1.58 | 1.45 | 1.39 | 1.59 |
| Quick ratio | 1.44 | 1.15 | 1.32 | 1.32 | 1.38 | 1.46 | 1.53 | 1.39 | 1.33 | 1.53 |
| Interest coverage | 12.4 | 7.7 | 8.5 | 7.7 | 9.5 | 7.6 | 4.2 | 8.1 | 9.2 | 10.6 |
| Working capital | $8.99B | $2.98B | $4.85B | $4.99B | $6.09B | $6.92B | $6.04B | $4.07B | $3.71B | $4.71B |
| Invested capital | $61.28B | $59.92B | $58.80B | $57.56B | $55.24B | $53.54B | $49.53B | $33.02B | $32.74B | $27.04B |
| Tangible asset value | $24.91B | $21.27B | $20.98B | $19.39B | $18.09B | $16.82B | $11.60B | $10.46B | $11.96B | $8.39B |
| Net current asset value | −$39.39B | −$41.17B | −$41.22B | −$42.48B | −$40.69B | −$38.03B | −$38.86B | −$23.56B | −$19.57B | −$19.85B |
| Graham number | $235.08 | $209.22 | $206.55 | $188.62 | $174.19 | $199.01 | $87.82 | $55.43 | $164.31 | $121.93 |
| Graham net-net per share | −$184.69 | −$185.82 | −$179.49 | −$180.69 | −$168.96 | −$157.38 | −$162.21 | −$102.69 | −$84.65 | −$83.53 |
| Capital allocation | ||||||||||
| Dividends paid | $1.37B | $1.34B | $1.26B | $1.18B | $793.0M | $686.0M | $679.0M | $683.0M | $535.0M | $426.0M |
| Share buybacks (net) | $796.0M | $3.02B | $2.50B | $1.50B | $2.25B | $0 | $3.0M | $1.48B | $1.02B | $509.0M |
| Dividend payout ratio | 31.0% | 32.7% | 29.1% | 29.6% | 20.7% | 13.1% | 52.8% | 126.5% | 11.7% | 14.2% |
| Dividends + buybacks / free cash flow | 42.4% | 146.1% | 119.9% | 101.4% | 99.1% | 16.1% | — | — | — | — |
| Capex / revenue | 4.0% | 4.6% | 5.9% | 6.8% | 7.2% | 7.0% | 8.5% | 7.9% | 8.7% | 8.5% |
| Capex / operating cash flow | 42.7% | 57.6% | 62.3% | 70.0% | 68.8% | 58.1% | 115.1% | 97.8% | 121.2% | 103.8% |
| Capex / depreciation | 0.87 | 0.95 | 1.21 | 1.48 | 1.70 | 1.55 | 1.62 | 1.64 | 1.83 | 1.71 |
| Stock-based compensation / revenue | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.3% |
| SG&A / revenue | — | 45.0% | 1.3% | 15.3% | 14.6% | 14.0% | 15.2% | 14.4% | 13.7% | 13.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 46.3 | 44.5 | 42.2 | 44.6 | 46.7 | 48.3 | 50.7 | 46.1 | 44.8 | 46.0 |
| Days of inventory on hand | 3.1 | 3.2 | 3.2 | 3.2 | 3.0 | 3.2 | 3.7 | 3.6 | 3.7 | 4.0 |
| Days payables outstanding | 19.8 | 18.2 | 18.7 | 20.3 | 19.6 | 19.7 | 20.6 | 20.0 | 20.4 | 21.6 |
| Cash conversion cycle (days) | 29.7 | 29.5 | 26.7 | 27.6 | 30.2 | 31.8 | 33.8 | 29.7 | 28.2 | 28.4 |
| Receivables turnover | 7.88 | 8.20 | 8.65 | 8.18 | 7.81 | 7.56 | 7.20 | 7.92 | 8.14 | 7.94 |
| Payables turnover | 18.48 | 20.04 | 19.54 | 18.02 | 18.64 | 18.57 | 17.74 | 18.27 | 17.93 | 16.92 |
| Inventory turnover | 116.60 | 113.37 | 112.88 | 114.41 | 119.84 | 113.90 | 99.33 | 101.79 | 98.84 | 90.57 |
| Asset turnover | 1.02 | 1.01 | 1.01 | 1.04 | 1.11 | 1.07 | 1.08 | 1.31 | 1.30 | 1.24 |
| Average receivables | $12.02B | $10.73B | $10.14B | $11.03B | $11.97B | $11.09B | $9.61B | $8.80B | $8.04B | $7.60B |
| Average payables | $4.01B | $3.44B | $3.52B | $3.94B | $3.94B | $3.56B | $3.15B | $3.00B | $2.86B | $2.75B |
| Average inventory | $635.5M | $608.0M | $609.0M | $620.5M | $612.0M | $579.5M | $562.5M | $539.0M | $519.5M | $514.0M |
| Intangibles / total assets | 6.8% | 7.8% | 7.6% | 7.7% | 8.0% | 8.9% | 9.1% | 13.4% | 14.2% | 15.8% |
Computed from FDX's annual financial statements (latest annual report filed July 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FDX valuation and financial ratios
At the end of fiscal 2026 (May 31, 2026), FedEx traded at 17.9 times earnings, against a 10-year median of 12.8. Based on the latest twelve months, the trailing P/E is 15.8 and the forward P/E is 14.2. FedEx earned a return on equity of 14.8% and a return on invested capital of 8.4% in fiscal 2026. It ended the year with $42.9 billion of debt and $13.3 billion in cash and short-term investments, net debt of $29.6 billion. It returned $2.2 billion to shareholders: $1.4 billion in dividends and $796.0 million in share buybacks, 42% of free cash flow. The share count fell 11.5% from 270.0M to 239.0M over 9 years.
See the FDX income statement, the FDX chart for price history, or the FDX stock overview for the latest quote and news.
FDX key metrics FAQ
What is FedEx's P/E ratio?
FedEx's trailing P/E ratio is 15.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.2. At the end of fiscal 2026 it was 17.9, compared with a 10-year median of 12.8.
What is FedEx's EV/EBITDA?
FedEx's enterprise value was 9.8 times EBITDA at the end of fiscal 2026 (enterprise value $108.9 billion, EBITDA $11.1 billion); the current EV/EBITDA is 8.9.
What is FedEx's return on equity?
FedEx's return on equity (ROE) was 14.8% in fiscal 2026: net income of $4.4 billion on average shareholders' equity of $29.9 billion.
What is FedEx's ROIC?
FedEx's return on invested capital was 8.4% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does FedEx have?
FedEx had total debt of $42.9 billion at the end of fiscal 2026, a debt-to-equity ratio of 1.36 and $29.6 billion of net debt (2.66 times EBITDA).
What is FedEx's dividend yield?
FedEx's forward dividend yield is 1.66%. FedEx paid $1.4 billion in dividends in fiscal 2026 ($5.75 per share), a payout ratio of 31.0%.
Does FedEx buy back its shares?
Yes. FedEx spent $796.0 million on net share repurchases in fiscal 2026 Shares outstanding changed −1.6% over the year, to 239.0M..
What is FedEx's free cash flow yield?
FedEx generated $5.1 billion of free cash flow in fiscal 2026, a free cash flow yield of 6.5% on its market value at year-end ($79.3 billion).
What is FedEx's current ratio?
FedEx's current ratio was 1.48 at the end of fiscal 2026: current assets were 1.48 times current liabilities.