FedEx Corporation (FDX) - Net Assets
Based on the latest financial reports, FedEx Corporation (FDX) has net assets worth $28.14 Billion USD as of November 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($89.18 Billion) and total liabilities ($61.04 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check FDX asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $28.14 Billion |
| % of Total Assets | 31.55% |
| Annual Growth Rate | 8.68% |
| 5-Year Change | 16.16% |
| 10-Year Change | 103.67% |
| Growth Volatility | 10.9 |
FedEx Corporation - Net Assets Trend (1986–2025)
This chart illustrates how FedEx Corporation's net assets have evolved over time, based on quarterly financial data. Also explore FedEx Corporation balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for FedEx Corporation (1986–2025)
The table below shows the annual net assets of FedEx Corporation from 1986 to 2025. For live valuation and market cap data, see FedEx Corporation (FDX) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-05-31 | $28.07 Billion | +1.78% |
| 2024-05-31 | $27.58 Billion | +5.86% |
| 2023-05-31 | $26.05 Billion | +4.47% |
| 2022-05-31 | $24.94 Billion | +3.19% |
| 2021-05-31 | $24.17 Billion | +32.10% |
| 2020-05-31 | $18.30 Billion | +3.03% |
| 2019-05-31 | $17.76 Billion | -8.54% |
| 2018-05-31 | $19.42 Billion | +20.80% |
| 2017-05-31 | $16.07 Billion | +16.61% |
| 2016-05-31 | $13.78 Billion | -8.06% |
| 2015-05-31 | $14.99 Billion | -1.86% |
| 2014-05-31 | $15.28 Billion | -12.19% |
| 2013-05-31 | $17.40 Billion | +18.14% |
| 2012-05-31 | $14.73 Billion | -3.24% |
| 2011-05-31 | $15.22 Billion | +10.20% |
| 2010-05-31 | $13.81 Billion | +1.36% |
| 2009-05-31 | $13.63 Billion | -6.20% |
| 2008-05-31 | $14.53 Billion | +14.78% |
| 2007-05-31 | $12.66 Billion | +9.95% |
| 2006-05-31 | $11.51 Billion | +20.06% |
| 2005-05-31 | $9.59 Billion | +19.31% |
| 2004-05-31 | $8.04 Billion | +10.26% |
| 2003-05-31 | $7.29 Billion | +11.35% |
| 2002-05-31 | $6.54 Billion | +10.92% |
| 2001-05-31 | $5.90 Billion | +23.30% |
| 2000-05-31 | $4.79 Billion | +2.61% |
| 1999-05-31 | $4.66 Billion | +17.73% |
| 1998-05-31 | $3.96 Billion | +13.14% |
| 1997-05-31 | $3.50 Billion | +35.91% |
| 1996-05-31 | $2.58 Billion | +14.72% |
| 1995-05-31 | $2.25 Billion | +16.67% |
| 1994-05-31 | $1.92 Billion | +15.15% |
| 1993-05-31 | $1.67 Billion | +5.80% |
| 1992-05-31 | $1.58 Billion | -5.33% |
| 1991-05-31 | $1.67 Billion | +1.18% |
| 1990-05-31 | $1.65 Billion | +10.43% |
| 1989-05-31 | $1.49 Billion | +12.23% |
| 1988-05-31 | $1.33 Billion | +23.34% |
| 1987-05-31 | $1.08 Billion | -1.17% |
| 1986-05-31 | $1.09 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to FedEx Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 6821.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (May 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $41.40 Billion | 147.47% |
| Common Stock | $32.00 Million | 0.11% |
| Other Comprehensive Income | $-1.36 Billion | -4.85% |
| Total Equity | $28.07 Billion | 100.00% |
FedEx Corporation Competitors by Market Cap
The table below lists competitors of FedEx Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
National Australia Bank Limited
F:NAL
|
$85.68 Billion |
|
Grupo México S.A.B. de C.V
MX:GMEXICOB
|
$85.80 Billion |
|
U.S. Bancorp
NYSE:USB
|
$85.92 Billion |
|
National Australia Bank Ltd
AU:NAB
|
$86.11 Billion |
|
American Tower Corp
NYSE:AMT
|
$85.02 Billion |
|
Marriott International Inc
NASDAQ:MAR
|
$83.82 Billion |
|
Boston Scientific Corp
NYSE:BSX
|
$83.79 Billion |
|
Midea Group Co Ltd
SHE:000333
|
$82.47 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in FedEx Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 27,582,000,000 to 28,074,000,000, a change of 492,000,000 (1.8%).
- Net income of 4,092,000,000 contributed positively to equity growth.
- Dividend payments of 1,339,000,000 reduced retained earnings.
- Share repurchases of 3,017,000,000 reduced equity.
- New share issuances of 524,000,000 increased equity.
- Other comprehensive income decreased equity by 3,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.09 Billion | +14.58% |
| Dividends Paid | $1.34 Billion | -4.77% |
| Share Repurchases | $3.02 Billion | -10.75% |
| Share Issuances | $524.00 Million | +1.87% |
| Other Comprehensive Income | $-3.00 Million | -0.01% |
| Other Changes | $235.00 Million | +0.84% |
| Total Change | $- | 1.78% |
Book Value vs Market Value Analysis
This analysis compares FedEx Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.41x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 72.01x to 3.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1986-05-31 | $5.47 | $393.67 | x |
| 1987-05-31 | $5.11 | $393.67 | x |
| 1988-05-31 | $6.31 | $393.67 | x |
| 1989-05-31 | $7.18 | $393.67 | x |
| 1990-05-31 | $7.83 | $393.67 | x |
| 1991-05-31 | $8.48 | $393.67 | x |
| 1992-05-31 | $7.36 | $393.67 | x |
| 1993-05-31 | $7.75 | $393.67 | x |
| 1994-05-31 | $8.59 | $393.67 | x |
| 1995-05-31 | $9.94 | $393.67 | x |
| 1996-05-31 | $11.27 | $393.67 | x |
| 1997-05-31 | $11.89 | $393.67 | x |
| 1998-05-31 | $13.31 | $393.67 | x |
| 1999-05-31 | $15.51 | $393.67 | x |
| 2000-05-31 | $16.14 | $393.67 | x |
| 2001-05-31 | $20.11 | $393.67 | x |
| 2002-05-31 | $21.57 | $393.67 | x |
| 2003-05-31 | $24.06 | $393.67 | x |
| 2004-05-31 | $26.47 | $393.67 | x |
| 2005-05-31 | $31.23 | $393.67 | x |
| 2006-05-31 | $37.16 | $393.67 | x |
| 2007-05-31 | $40.69 | $393.67 | x |
| 2008-05-31 | $46.56 | $393.67 | x |
| 2009-05-31 | $43.67 | $393.67 | x |
| 2010-05-31 | $43.98 | $393.67 | x |
| 2011-05-31 | $48.01 | $393.67 | x |
| 2012-05-31 | $46.46 | $393.67 | x |
| 2013-05-31 | $54.88 | $393.67 | x |
| 2014-05-31 | $49.28 | $393.67 | x |
| 2015-05-31 | $52.24 | $393.67 | x |
| 2016-05-31 | $49.41 | $393.67 | x |
| 2017-05-31 | $59.53 | $393.67 | x |
| 2018-05-31 | $71.38 | $393.67 | x |
| 2019-05-31 | $67.01 | $393.67 | x |
| 2020-05-31 | $69.83 | $393.67 | x |
| 2021-05-31 | $90.18 | $393.67 | x |
| 2022-05-31 | $93.76 | $393.67 | x |
| 2023-05-31 | $101.91 | $393.67 | x |
| 2024-05-31 | $109.89 | $393.67 | x |
| 2025-05-31 | $115.53 | $393.67 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently FedEx Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.58%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.65%
- • Asset Turnover: 1.00x
- • Equity Multiplier: 3.12x
- Recent ROE (14.58%) is above the historical average (10.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1986 | 12.07% | 5.06% | 1.14x | 2.09x | $22.63 Million |
| 1987 | -6.07% | -2.06% | 1.27x | 2.32x | $-173.39 Million |
| 1988 | 14.11% | 4.83% | 1.29x | 2.26x | $54.63 Million |
| 1989 | 11.15% | 3.22% | 0.98x | 3.54x | $17.15 Million |
| 1990 | 7.02% | 1.65% | 1.24x | 3.44x | $-49.12 Million |
| 1991 | 0.35% | 0.08% | 1.36x | 3.40x | $-160.96 Million |
| 1992 | -7.20% | -1.51% | 1.38x | 3.46x | $-271.77 Million |
| 1993 | 3.22% | 0.69% | 1.35x | 3.47x | $-113.24 Million |
| 1994 | 10.62% | 2.41% | 1.42x | 3.11x | $11.93 Million |
| 1995 | 13.25% | 3.17% | 1.46x | 2.86x | $73.04 Million |
| 1996 | 11.95% | 3.00% | 1.53x | 2.60x | $50.19 Million |
| 1997 | 10.32% | 3.14% | 1.27x | 2.58x | $11.08 Million |
| 1998 | 12.70% | 3.17% | 1.64x | 2.45x | $106.91 Million |
| 1999 | 13.54% | 3.76% | 1.58x | 2.28x | $164.96 Million |
| 2000 | 14.38% | 3.77% | 1.58x | 2.41x | $209.81 Million |
| 2001 | 9.90% | 2.98% | 1.47x | 2.26x | $-5.67 Million |
| 2002 | 10.85% | 3.45% | 1.49x | 2.11x | $55.50 Million |
| 2003 | 11.39% | 3.69% | 1.46x | 2.11x | $101.20 Million |
| 2004 | 10.43% | 3.39% | 1.29x | 2.38x | $34.40 Million |
| 2005 | 15.11% | 4.93% | 1.44x | 2.13x | $490.20 Million |
| 2006 | 15.69% | 5.59% | 1.42x | 1.97x | $654.90 Million |
| 2007 | 15.93% | 5.72% | 1.47x | 1.90x | $750.40 Million |
| 2008 | 7.74% | 2.96% | 1.48x | 1.76x | $-327.60 Million |
| 2009 | 0.72% | 0.28% | 1.46x | 1.78x | $-1.26 Billion |
| 2010 | 8.57% | 3.41% | 1.39x | 1.80x | $-197.10 Million |
| 2011 | 9.54% | 3.69% | 1.44x | 1.80x | $-70.00 Million |
| 2012 | 13.80% | 4.76% | 1.43x | 2.03x | $559.30 Million |
| 2013 | 8.97% | 3.52% | 1.32x | 1.93x | $-178.80 Million |
| 2014 | 13.73% | 4.60% | 1.38x | 2.16x | $569.30 Million |
| 2015 | 7.00% | 2.21% | 1.28x | 2.47x | $-449.30 Million |
| 2016 | 13.20% | 3.61% | 1.09x | 3.34x | $441.60 Million |
| 2017 | 18.65% | 4.97% | 1.24x | 3.02x | $1.39 Billion |
| 2018 | 23.55% | 6.99% | 1.25x | 2.70x | $2.63 Billion |
| 2019 | 3.04% | 0.77% | 1.28x | 3.06x | $-1.24 Billion |
| 2020 | 7.03% | 1.86% | 0.94x | 4.02x | $-543.50 Million |
| 2021 | 21.64% | 6.24% | 1.01x | 3.43x | $2.81 Billion |
| 2022 | 15.34% | 4.09% | 1.09x | 3.45x | $1.33 Billion |
| 2023 | 15.23% | 4.41% | 1.03x | 3.34x | $1.36 Billion |
| 2024 | 15.70% | 4.94% | 1.01x | 3.15x | $1.57 Billion |
| 2025 | 14.58% | 4.65% | 1.00x | 3.12x | $1.28 Billion |
Industry Comparison
This section compares FedEx Corporation's net assets metrics with peer companies in the Integrated Freight & Logistics industry.
Industry Context
- Industry: Integrated Freight & Logistics
- Average net assets among peers: $160,220,346
- Average return on equity (ROE) among peers: 1.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| FedEx Corporation (FDX) | $28.14 Billion | 12.07% | 2.17x | $85.27 Billion |
| Addentax Group Corp (ATXG) | $26.05 Million | -11.94% | 1.01x | $4.01 Million |
| Armlogi Holding Corp. Common Stock (BTOC) | $7.50 Million | 5.37% | 0.19x | $12.97 Million |
| CH Robinson Worldwide Inc (CHRW) | $1.35 Billion | 69.49% | 3.40x | $20.09 Billion |
| Tianci International, Inc. Common Stock (CIIT) | $790.01K | 6.89% | 0.15x | $5.25 Million |
| Callan JMB Inc. Common Stock (CJMB) | $14.01 Million | 44.40% | 0.09x | $6.25 Million |
| Freightos Limited Ordinary shares (CRGO) | $21.66 Million | -114.04% | 0.93x | $100.01 Million |
| Cheetah Net Supply Chain Service Inc. Class A Common Stock (CTNT) | $-170.43K | 0.00% | 0.00x | $5.37 Million |
| Cryoport Inc (CYRX) | $-1.96 Million | 0.00% | 0.00x | $391.54 Million |
| Eastern International Ltd. (ELOG) | $9.05 Million | -10.34% | 1.26x | $10.51 Million |
| Expeditors International of Washington, Inc. (EXPD) | $171.85 Million | 22.35% | 1.00x | $19.44 Billion |
About FedEx Corporation
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… Read more