FedEx Corporation (FDX) — Working Capital to Net Assets Ratio
FedEx Corporation (FDX) has a Working Capital to Net Assets ratio of 27.5% as of February 2026. Working capital of $8.19 Billion (current assets of $25.48 Billion minus current liabilities of $17.29 Billion) is measured against net assets of $29.80 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See financial flexibility index of FedEx Corporation to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
FedEx Corporation Working Capital to Net Assets (1986–2025)
This chart shows how FedEx Corporation's Working Capital to Net Assets ratio has evolved across 40 annual periods from 1986 to 2025. As of February 2026, the ratio stands at 27.5%, reflecting working capital of $8.19 Billion against net assets of $29.80 Billion USD. See FedEx Corporation (FDX) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for FedEx Corporation (1986–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for FedEx Corporation from 1986 to 2025, covering 40 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see FDX stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 10.6% | $2.98 Billion | $28.07 Billion | $18.39 Billion | $15.41 Billion | ▼ -7.0 pp |
| 2024 | 17.6% | $4.85 Billion | $27.58 Billion | $18.21 Billion | $13.36 Billion | ▼ -1.6 pp |
| 2023 | 19.2% | $4.99 Billion | $26.05 Billion | $18.58 Billion | $13.59 Billion | ▼ -5.3 pp |
| 2022 | 24.4% | $6.09 Billion | $24.94 Billion | $20.36 Billion | $14.27 Billion | ▼ -4.2 pp |
| 2021 | 28.6% | $6.92 Billion | $24.17 Billion | $20.58 Billion | $13.66 Billion | ▼ -4.4 pp |
| 2020 | 33.0% | $6.04 Billion | $18.30 Billion | $16.38 Billion | $10.34 Billion | ▲ +10.1 pp |
| 2019 | 22.9% | $4.07 Billion | $17.76 Billion | $13.09 Billion | $9.01 Billion | ▲ +3.8 pp |
| 2018 | 19.1% | $3.71 Billion | $19.42 Billion | $13.34 Billion | $9.63 Billion | ▼ -10.2 pp |
| 2017 | 29.3% | $4.71 Billion | $16.07 Billion | $12.63 Billion | $7.92 Billion | ▲ +0.4 pp |
| 2016 | 28.9% | $3.98 Billion | $13.78 Billion | $11.99 Billion | $8.01 Billion | ▼ -4.4 pp |
| 2015 | 33.2% | $4.99 Billion | $14.99 Billion | $10.94 Billion | $5.96 Billion | ▲ +4.6 pp |
| 2014 | 28.6% | $4.37 Billion | $15.28 Billion | $9.68 Billion | $5.31 Billion | ▼ -3.1 pp |
| 2013 | 31.8% | $5.52 Billion | $17.40 Billion | $11.27 Billion | $5.75 Billion | ▲ +6.7 pp |
| 2012 | 25.0% | $3.68 Billion | $14.73 Billion | $9.06 Billion | $5.37 Billion | ▲ +2.6 pp |
| 2011 | 22.4% | $3.40 Billion | $15.22 Billion | $8.29 Billion | $4.88 Billion | ▲ +3.3 pp |
| 2010 | 19.1% | $2.64 Billion | $13.81 Billion | $7.28 Billion | $4.64 Billion | ▲ +0.1 pp |
| 2009 | 19.0% | $2.59 Billion | $13.63 Billion | $7.12 Billion | $4.52 Billion | ▲ +6.1 pp |
| 2008 | 12.9% | $1.88 Billion | $14.53 Billion | $7.24 Billion | $5.37 Billion | ▲ +3.4 pp |
| 2007 | 9.5% | $1.20 Billion | $12.66 Billion | $6.63 Billion | $5.43 Billion | ▲ +0.9 pp |
| 2006 | 8.6% | $991.00 Million | $11.51 Billion | $6.46 Billion | $5.47 Billion | ▲ +3.0 pp |
| 2005 | 5.6% | $535.00 Million | $9.59 Billion | $5.27 Billion | $4.73 Billion | ▲ +3.6 pp |
| 2004 | 2.0% | $163.00 Million | $8.04 Billion | $4.97 Billion | $4.81 Billion | ▼ -6.3 pp |
| 2003 | 8.3% | $606.00 Million | $7.29 Billion | $3.94 Billion | $3.33 Billion | ▼ -4.1 pp |
| 2002 | 12.4% | $812.00 Million | $6.54 Billion | $3.67 Billion | $2.85 Billion | ▲ +9.0 pp |
| 2001 | 3.4% | $199.06 Million | $5.90 Billion | $3.45 Billion | $3.25 Billion | ▼ -4.8 pp |
| 2000 | 8.2% | $392.74 Million | $4.79 Billion | $3.28 Billion | $2.89 Billion | ▲ +0.6 pp |
| 1999 | 7.6% | $356.27 Million | $4.66 Billion | $3.14 Billion | $2.78 Billion | ▲ +5.7 pp |
| 1998 | 1.9% | $76.29 Million | $3.96 Billion | $2.88 Billion | $2.80 Billion | ▼ -3.0 pp |
| 1997 | 4.9% | $173.00 Million | $3.50 Billion | $2.64 Billion | $2.47 Billion | ▼ -3.7 pp |
| 1996 | 8.6% | $221.80 Million | $2.58 Billion | $1.73 Billion | $1.51 Billion | ▼ -1.1 pp |
| 1995 | 9.7% | $218.60 Million | $2.25 Billion | $1.87 Billion | $1.65 Billion | ▼ -6.5 pp |
| 1994 | 16.2% | $311.60 Million | $1.92 Billion | $1.76 Billion | $1.45 Billion | ▲ +16.8 pp |
| 1993 | -0.6% | $-9.60 Million | $1.67 Billion | $1.44 Billion | $1.45 Billion | ▲ +10.8 pp |
| 1992 | -11.3% | $-178.90 Million | $1.58 Billion | $1.21 Billion | $1.38 Billion | ▲ +1.3 pp |
| 1991 | -12.6% | $-211.00 Million | $1.67 Billion | $1.28 Billion | $1.49 Billion | ▼ -17.2 pp |
| 1990 | 4.6% | $75.20 Million | $1.65 Billion | $1.32 Billion | $1.24 Billion | ▲ +3.8 pp |
| 1989 | 0.7% | $11.10 Million | $1.49 Billion | $1.10 Billion | $1.09 Billion | ▼ -3.6 pp |
| 1988 | 4.4% | $58.00 Million | $1.33 Billion | $630.00 Million | $572.00 Million | ▲ +4.0 pp |
| 1987 | 0.4% | $3.80 Million | $1.08 Billion | $507.50 Million | $503.70 Million | ▼ -16.3 pp |
| 1986 | 16.6% | $181.40 Million | $1.09 Billion | $613.30 Million | $431.90 Million | — |