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FedEx (FDX) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Industrials•Integrated Freight & Logistics
B
GoodMetricSide Score: 72/100
ProfitabilityProfit20/30
GrowthGrowth20/25
Balance SheetBalance19/25
Cash QualityCash13/20
Price & Volume
Market Cap $73.87B

FedEx Corporation, together with its subsidiaries, provides transportation, e-commerce, and business services in the United States and internationally. It operates through Federal Express and FedEx Freight segments. The company offers transportation services, including express, freight, less-than-truckload freight, and time-specific freight-shipping; and small-package ground delivery services. It also provides e-commerce and digital solutions; dataworks; printing and shipping management, including digital printing, professional finishing, document creation, design solutions, direct mail, signs and graphics, custom-branded boxes, copying, computer rental, free Wi-Fi, corporate print solutions, shredding, expedited U.S. passport processing and renewal, and digital notarization; packing services, as well as packing supplies and boxes; document and business services; and retail access for package transportation. In addition, the company offers logistics services, air and ocean freight-forwarding and cargo transportation, specialty transportation, customs brokerage and clearance, trade management tools and data, and door-to-door solutions; and third party logistics and supply chain management solutions, such as inbound logistics, warehousing and distribution, fulfillment, contract packaging and product configuration, systems integration, returns process and disposition, test, repair, refurbishment, and product liquidation. Further, it provides sales, marketing, administrative, information technology, and back-office support services. FedEx Corporation was founded in 1971 and is headquartered in Memphis, Tennessee.

Moat Signals

Competitive analysis based on 67 quarters of fundamental data

Pricing Power

Moderate Moat

Operating margins are positive at ~5.9% on average, but show some variability — pricing power may be sensitive to market conditions.

Competitive Advantage

Moderate Moat

ROE is positive at ~15.0% on average, adequate but below the threshold typically associated with wide moats.

Cash Generation

Strong Moat

Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.

Demand Durability

Moderate Moat

Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.

Risk Signals

Data-driven red flags and warnings across 67 quarters

Low Risk

Margin Pressure

Healthy

Margins are stable or improving at ~6.2% — no sign of cost or pricing stress.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Healthy

D/E ratio is 0.8 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Healthy

Free cash flow is consistently positive — the business self-funds without external capital reliance.

Share Dilution

Healthy

Shares decreased 3.3% — net buybacks are reducing shares outstanding and boosting per-share value.

Metrics at a Glance

as of February 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$91.93B
4.7%
Q. Revenue
$24.00B
TTM EBITDA
$10.03B
8.0%
TTM Op. Income
$5.71B
14.6%
Q. Op. Income
$1.35B
TTM Net Income
$4.48B
14.4%
Q. Net Income
$1.06B
EPS
$4.46
Shares Out.
$236.00M
1.7%
$91.93B in TTM revenue grew 4.7% YoY, reaching $24.00B last quarter. TTM EBITDA of $10.03B and TTM operating income of $5.71B shows growth is flowing through. Net income of $4.48B TTM confirms the company is converting revenue into profit. Revenue is growing modestly — monitor for acceleration or deceleration.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
10.3%
Op. Margin
5.6%
3.7%
Net Margin
4.4%
7.3%
Op. margin of 5.6% is down 0.2% YoY — costs are rising relative to revenue. Net margin at 4.4%.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
16.5x
P/S Ratio
0.8x
P/B Ratio
2.5x
At 16.5x P/E, the stock trades in line with market averages — fairly valued. P/S of 0.8x and P/B of 2.5x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$94.73B
Cash
$8.01B
Long-Term Debt
$22.83B
Book Value
$29.80B
D/E Ratio
0.8
Debt/EBITDA
9.3
With $94.73B in assets and $22.83B in long-term debt, the D/E of 0.8and book value of $29.80B — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$1.99B
Free Cash Flow
$1.04B
2.3%
FCF Margin
1.1%
FCF / Net Income
1.0
FCF of $1.04B on $1.99B in operating cash flow. The FCF / Net Income ratio of 0.2x indicates partial cash conversion — earnings quality needs attention.

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