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 net asset quality index of FedEx Corporation to measure how much of total assets are equity-financed.
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. Check FedEx Corporation tangible equity quality to evaluate the tangible quality of the company's equity base.
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 FedEx Corporation 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 | — |