FedEx Corporation

FDX.DE · Industrials · Integrated Freight & Logistics · Valued as of 2026-11-05 · Statements 2026-05-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

29.08B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

48.23B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

33.87B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

37.06B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

75.84B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.49×

the ratio the screener ranks by

Margin of Safety

-104.7%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 29.08B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)52.01B USD
−②Net Debt Today22.94B USD
+③Growth Value0 USD
=Value29.08B USD

EPV of the Operations (NOPAT over WACC)

52.01B USD

Net debt today

-22.94B USD

Growth Value

0 USD

Value

29.08B USD

①EPV (Earnings Power Value)

52.01B USD

②Net Debt Today

22.94B USD

③Growth Value

0 USD

Market value

Market Cap75.84B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-160.9%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 48.23B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE36.48B USD
+②Equity at Year 15, Today11.75B USD
=Value48.23B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

36.48B USD

②Equity at Year 15, Today

11.75B USD

Market value

Market Cap75.84B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-57.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 33.87B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF28.62B USD
+②Invested Capital at Year 15, Today28.19B USD
−③Net Debt Today22.94B USD
=Value33.87B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROIC on new investment rising to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

28.62B USD

②Invested Capital at Year 15, Today

28.19B USD

③Net Debt Today

22.94B USD

Market value

Market Cap75.84B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-123.9%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.21%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.31×Market Risk Premium 6.00%= 12.38%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.36B USDPretax Income 5.80B USD= 23.48%

The tax the interest saves.

Interest Expense =EBIT 6,769.76M USD−Pretax Income 5,798.79M USD= 970.97M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 970.97M USDTotal Debt 34.16B USD×(1 − Tax Rate for WACC 23.48%)= 2.17%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 34.16B USDMarket Cap + Total Debt 75.84B USD + 34.16B USD= 31.05%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 68.95%×Cost of Equity 12.38%+Debt Weight 31.05%×Cost of Debt 2.17%= 9.21%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-09-30.

Total Assets 93.02B USD − Total Liabilities 58.42B USD = Book Value Today 34.60B USD

Total Debt 34.16B USD − Cash and Short-Term Investments 11.23B USD = Net Debt Today 22.94B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-4.2%at most 5%passes234,000,000 / 244,302,246
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets4.8%at least -10.0%passes(8.93B USD − 4.44B USD) ÷ 93.02B USD
Price to bookMarket Cap ÷ Book Value Today2.19×at most 3×passes75.84B USD ÷ 34.60B USD
Operating marginOperating Income ÷ Revenue7.0%above 10.0%does not pass6.63B USD ÷ 94.81B USD
Revenue growthRevenue ÷ Revenue a Year Before − 17.7%above 10.0%does not pass94.81B USD / 88.01B USD
Net cash(Cash − Total Debt) ÷ Market Cap-34.5%above -30%does not pass(7.97B USD − 34.16B USD) ÷ 75.84B USD
Operating efficiencyOperating Income ÷ Gross Profit32.1%above 25.0%passes6.63B USD ÷ 20.64B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

288.29 EUR

Enterprise value

90.07B EUR

the provider's own figure

EV / EBITDA

7.60×

Price / book

2.19×

the provider's book

Price / earnings

18.11×

Return on equity

14.8%

the provider's figure, not this page's

Profit margin

4.7%

Revenue growth

11.9%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2023202420252026

Revenue

90.25B87.78B88.01B94.81B

Gross profit

19.19B18.97B19.01B20.64B

Operating income

5.34B6.30B6.04B6.63B

EBITDA

operating income before depreciation and amortisation

10.24B10.88B10.50B11.14B

Pretax income

5.37B5.84B5.45B5.80B

Net income

3.98B4.34B4.10B4.44B

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

4.29B4.88B4.71B5.33B

R&D

————
Balance sheet, year end (USD)2023202420252026

Total assets

87.23B87.09B87.71B99.04B

Total liabilities

61.12B59.48B59.61B67.36B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

26.11B27.61B28.10B31.68B

Total debt

38.37B37.76B37.45B42.99B

Cash and equivalents

6.86B6.51B5.51B13.32B

Net PP&E

fixed assets after depreciation

58.10B58.66B58.15B58.92B

Working capital

current assets less current liabilities

5.03B4.86B2.98B9.00B
Cash flow (USD)2023202420252026

Operating cash flow

8.86B8.32B7.04B8.93B

Capital expenditure

paid out, so below zero

-6.18B-5.18B-4.06B-3.81B

Depreciation and amortisation

4.18B4.29B4.27B4.37B

Free cash flow

operating cash flow plus capital expenditure

2.68B3.14B2.98B5.12B