FEDEX CORP (FDX) Stock Analysis

Analysis from 10-K filed 2026-07-20. Data as of Q2 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC 6.0%. FCF margin 5.4%. D/E 0.8x. Source: 10-K filed 2026-07-20.

Metric	Value	Context
ROIC	6.0%	Below expectations
FCF Margin	5.4%	Healthy cash flow
Debt/Equity	0.8x	Moderate leverage

ROIC 6.0% — Bottom 50% of sector peers. FCF margin 5.4% — Top 50%.

Explore FEDEX CORP: Earnings History | Filings

Programmatic access: Available via MCP at mcp.metricduck.com. Tools for FDX: get_company_overview, get_filing_index (lens: debt_stress, management_outlook, risk_trajectory), get_filing_changes, get_metric_history, compare_companies, screen_filing_signals.

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Profitability: FEDEX CORP earns 6.0% ROIC, Bottom 50% in Transportation

ROIC TTM 6.0%, sector median 7.1%, Bottom 50%. DuPont: NOPAT margin 4.4% × asset turnover 1.0x. Operating margin 5.8%. Source: 10-K filed 2026-07-20.

Metric	FDX	Rating	Context
Return on Invested Capital (ROIC)	6.0%	Warning	Below sector median of 7.1%
Return on Equity (ROE)	15.3%	Good	Efficient use of shareholder equity
Operating Margin	5.8%	Adequate	Moderate operational efficiency

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Cash Flow: FEDEX CORP generates $5.1B FCF at 5.4% margin, positive NaN/8 quarters

FCF TTM $5.1B. FCF margin 5.4%, Top 50%. OCF/Net income 2.0x. Positive FCF in NaN/8 trailing quarters. Source: 10-K filed 2026-07-20.

Metric	FDX	Rating	Context
Free Cash Flow Margin	5.4%	Adequate	Healthy cash generation
Free Cash Flow (TTM)	$5.1B	Good	Positive cash generation
OCF/Net Income	2.0x	Excellent	High earnings quality
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

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Balance Sheet: FEDEX CORP at 0.8x leverage, 10.2x interest coverage

Debt/Equity 0.8x. Total debt $25.7B, cash & investments $13.3B. Interest coverage 10.2x. Source: 10-K filed 2026-07-20.

Metric	FDX	Rating	Context
Debt to Equity	0.8x	Adequate	Moderate leverage
Net Cash Position	$-12.4B	Warning	Net debt position
Interest Coverage	10.2x	Excellent	Comfortable debt service

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Valuation: FEDEX CORP trades at 15.2x earnings

P/E 15.2x. EV/Sales 0.8x. FCF yield 7.6%. Dividend yield 2.0%. Source: 10-K filed 2026-07-20.

Metric	FDX	Rating	Context
P/E Ratio	15.2x	Adequate	Reasonable valuation
EV/Sales	0.8x	Excellent	Attractive revenue multiple
FCF Yield	7.6%	Good	Attractive cash return
Dividend Yield	2.0%	Adequate	Growth focus over income

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Capital Allocation: FEDEX CORP returns 3.2% shareholder yield

Total shareholder yield 3.2% (div 2.0% + buyback 1.2%). Share count +0.3% YoY. Capital returned $2.1B TTM. Source: 10-K filed 2026-07-20.

Metric	FDX	Rating	Context
Total Shareholder Yield	3.2%	Good	Dividend + buyback yield combined
Buyback Yield	1.2%	Adequate	Minimal buyback activity
Share Count Change (YoY)	0.3%	Adequate	Net dilution from issuance/SBC
Total Capital Returned (TTM)	$2.1B	Good	Dividends + buybacks returned to shareholders

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Sector Rankings

Metric	Value	Percentile	vs Median
Return on Invested Capital (ROIC)	6.0%	Bottom 50%	0.8x below
Free Cash Flow Margin	5.4%	Top 50%	1.3x above
Operating Margin	5.8%	Bottom 50%	0.8x below
Return on Equity (ROE)	15.3%	Top 50%	1.5x above
P/E Ratio	15.2x	N/A	-

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Financial Scorecard

Metric	FDX	Rating	Sector Context
Return on Invested Capital (ROIC)	6.0%	Warning	Bottom 50% of sector (median: 7.1%)
Free Cash Flow Margin	5.4%	Adequate	Top 50% of sector (median: 4.1%)
Debt to Equity Ratio	81.3%	Adequate	Elevated but manageable
P/E Ratio (Price-to-Earnings)	15.2x	Adequate	Fair value
Free Cash Flow Yield	7.6%	Good	Solid cash yield

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Frequently Asked Questions

Q: What is FEDEX CORP's Return on Invested Capital (ROIC)?

FEDEX CORP (FDX) has a trailing twelve-month Return on Invested Capital (ROIC) of 6.0%. The 8-quarter median ROIC is 5.9% with a improving trend. Sector median 7.1%. Source: 10-K filed 2026-07-20.

Q: What is FEDEX CORP's Free Cash Flow Margin?

FEDEX CORP (FDX) has a free cash flow margin of 5.4%, generating $5.1 billion in free cash flow over the trailing twelve months. Source: 10-K filed 2026-07-20.

Q: What is FEDEX CORP's P/E ratio and how does it compare to peers?

FEDEX CORP (FDX) trades at a P/E ratio of 15.2x, which is above the sector median of N/A. EV/Sales 0.8x. FCF yield 7.6%. Source: 10-K filed 2026-07-20.

Q: Does FEDEX CORP pay a dividend?

FEDEX CORP (FDX) currently pays a dividend yield of 2.0%. Total shareholder yield (dividend + buybacks) 3.2%. Source: 10-K filed 2026-07-20.

Q: How much debt does FEDEX CORP have?

FEDEX CORP (FDX) has a debt-to-equity ratio of 0.8x with total debt of $25.7 billion. Interest coverage 10.2x. Net debt $12.4 billion. Source: 10-K filed 2026-07-20.

Q: What is FEDEX CORP's revenue and earnings growth?

FEDEX CORP (FDX) grew revenue by 7.7% year-over-year. EPS +10.4% YoY. Source: 10-K filed 2026-07-20.

Q: Is FEDEX CORP buying back stock?

FEDEX CORP (FDX) repurchased $776.0 million of stock over the trailing twelve months. This represents a buyback yield of 1.2%. Share count +0.3% YoY. Source: 10-K filed 2026-07-20.

Q: How does FEDEX CORP compare to competitors in Transportation?

Compared to other companies in Transportation, FEDEX CORP (FDX) shows: ROIC 6.0%, sector median 7.1% (Bottom 50%). FCF margin 5.4%, sector median 4.1% (Top 50%). These rankings are based on MetricDuck's analysis of all Transportation companies with available SEC filings.

Q: What warning signs should I watch for with FEDEX CORP?

No quantitative warning flags fired for FEDEX CORP (FDX) on margin trend, FCF trend, ROIC trend, or leverage thresholds. Source: 10-K filed 2026-07-20.

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Data Source: Data sourced from 10-K filed 2026-07-20. TTM metrics as of Q2 2026.

Methodology: Financial metrics calculated from SEC 10-K and 10-Q filings using standardized formulas. Sector comparisons use peer group based on SIC code.

Scope: This analysis covers SEC filing fundamentals — profitability, cash flow, balance sheet, and valuation metrics. For analyst estimates and price targets, consult sell-side research.

This analysis is for informational purposes only and does not constitute investment advice.