Recent News
Nov. 10–Dec. 18, 2025: FedEx published its 2025 Global Economic Impact report, citing roughly $126 billion in direct and indirect economic impact for fiscal 2025 and emphasizing network investments and innovation. Nov. 21, 2025: a WARN notice filed for the Coppell, Texas supply-chain facility announced a phased closure and roughly 856 job reductions, with the shutdown completing by late April 2026.
Technical Analysis
Directional indicators show a strong bullish trend: ADX sits at 30.16, indicating a robust directional move, with DI+ at 38.37 and DI+ increasing; DI- at 15.98 shows a peak-and-reversal. That configuration favors continued upward bias while trend strength remains elevated.
MACD registers 12.31, the MACD line sits above its signal at 8.67, and the MACD trend reads increasing; that crossover confirms bullish momentum and supports near-term continuation of the rally.
Price trades well above major averages—200-day at $246.97, 50-day at $296.70, and 20-day at $319.17—while the 12-day EMA at $327.58 trends higher. Such alignment creates a constructive medium-term price context but embeds extension risk versus the valuation baseline.
Bollinger boundaries show the closing price above the +2 standard deviation band (upper 2× at $361.07; close $362.54), and the momentum/regression oscillator (MRO) reads positive at 10.31 with a dip-and-reversal; those factors signal the price sits above short-term targets and faces increased mean-reversion pressure.
RSI at 70.62 and rising places the stock in overbought territory, reinforcing short-horizon pullback risk even as volume runs slightly above short- and long-term averages; the super trend lower at $341.51 provides a nearby structural support level to monitor for short-term corrective action.
Fundamental Analysis
Top-line and margin dynamics support the valuation case. Total revenue reached $23.47 billion; YoY revenue growth measured +5.51%, while quarter-over-quarter revenue expanded roughly +49.99%. Operating income came in at $1.621 billion with an operating margin of 6.91%, improving +18.37% QoQ and +10.11% YoY—these margin gains reflect cost reductions and improved yields across domestic and international package operations.
Earnings per share showed strength: actual EPS $4.82 versus estimate $4.11, a $0.71 beat representing a 17.3% surprise. EBITDA totaled $2.689 billion and free cash flow reached $1.194 billion, producing a free cash flow yield near 1.96% and a free-cash-to-net-income ratio above 1.0, indicating cash generation outpaced accounting earnings in the period.
Balance-sheet and leverage metrics present mixed signals. Cash and short-term investments total $6.57 billion and current liquidity ratios (current ratio 1.27; quick ratio 1.23) cover near-term obligations, yet total debt stands at $37.77 billion with net debt near $14.63 billion. Debt-to-EBITDA reads 14.04 while interest-coverage exceeds 16x; the leverage ratio suggests elevated gross leverage against recent earnings levels even though servicing capacity remains ample.
Valuation context: WMDST values the stock as over-valued. Trailing P/E registers 53.73 and the enterprise multiple stands at 34.23; forward P/E of 47.12 sits slightly above the industry peer mean of 45.78 and well inside the industry peer range (low 20.46, high 101.61) for forward P/E. The PEG ratio at 2.08 sits above the industry peer mean of –2.80 but falls within the industry peer range (low –10.69 to high 22.20), reflecting a higher multiple relative to peer growth expectations while remaining inside the observed peer span. The valuation premium reflects margin improvement and the recent EPS beat but contrasts with modest free-cash-flow yield and elevated leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-11-30 |
| REPORT DATE: | 2025-12-18 |
| NEXT REPORT DATE: | 2026-03-19 |
| CASH FLOW | Begin Period Cash Flow | $ 6.2 B |
| Operating Cash Flow | $ 2.0 B | |
| Capital Expenditures | $ -757.00 M | |
| Change In Working Capital | $ -1.18 B | |
| Dividends Paid | $ -342.00 M | |
| Cash Flow Delta | $ 404.0 M | |
| End Period Cash Flow | $ 6.6 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 23.5 B | |
| Forward Revenue | $ 7.7 B | |
| COSTS | ||
| Cost Of Revenue | $ 18.3 B | |
| Depreciation | $ 1.1 B | |
| Depreciation and Amortization | $ 1.1 B | |
| Research and Development | — | |
| Total Operating Expenses | $ 21.8 B | |
| PROFITABILITY | ||
| Gross Profit | $ 5.1 B | |
| EBITDA | $ 2.7 B | |
| EBIT | $ 1.6 B | |
| Operating Income | $ 1.6 B | |
| Interest Income | $ -135.00 M | |
| Interest Expense | — | |
| Net Interest Income | $ -135.00 M | |
| Income Before Tax | $ 1.3 B | |
| Tax Provision | $ 333.0 M | |
| Tax Rate | 25.8 % | |
| Net Income | $ 956.0 M | |
| Net Income From Continuing Operations | $ 956.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 4.11 | |
| EPS Actual | $ 4.82 | |
| EPS Difference | $ 0.71 | |
| EPS Surprise | 17.275 % | |
| Forward EPS | $ 5.35 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 89.2 B | |
| Intangible Assets | $ 6.6 B | |
| Net Tangible Assets | $ 21.5 B | |
| Total Current Assets | $ 20.7 B | |
| Cash and Short-Term Investments | $ 6.6 B | |
| Cash | $ 6.6 B | |
| Net Receivables | $ 12.2 B | |
| Inventory | $ 631.0 M | |
| Long-Term Investments | $ 4.4 B | |
| LIABILITIES | ||
| Accounts Payable | $ 4.7 B | |
| Short-Term Debt | $ 901.0 M | |
| Total Current Liabilities | $ 16.2 B | |
| Net Debt | $ 14.6 B | |
| Total Debt | $ 37.8 B | |
| Total Liabilities | $ 61.0 B | |
| EQUITY | ||
| Total Equity | $ 28.1 B | |
| Retained Earnings | $ 42.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 119.74 | |
| Shares Outstanding | 235.000 M | |
| Revenue Per-Share | $ 99.87 | |
| VALUATION | Market Capitalization | $ 60.9 B |
| Enterprise Value | $ 92.1 B | |
| Enterprise Multiple | 34.234 | |
| Enterprise Multiple QoQ | -4.1 % | |
| Enterprise Multiple YoY | 32.631 % | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 3.922 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.169 | |
| Asset To Liability | 1.461 | |
| Debt To Capital | 0.573 | |
| Debt To Assets | 0.423 | |
| Debt To Assets QoQ | -1.222 % | |
| Debt To Assets YoY | 6010.823 % | |
| Debt To Assets IPRWA | — | |
| Debt To Equity | 1.342 | |
| Debt To Equity QoQ | -1.676 % | |
| Debt To Equity YoY | 5899.464 % | |
| Debt To Equity IPRWA | — | |
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.163 | |
| Price To Book QoQ | 12.103 % | |
| Price To Book YoY | -15.148 % | |
| Price To Book IPRWA | — | |
| Price To Earnings (P/E) | 53.73 | |
| Price To Earnings QoQ | -9.372 % | |
| Price To Earnings YoY | -22.289 % | |
| Price To Earnings IPRWA | high: 260.531 mean: 260.531 FDX: 53.73 low: -9.844 median: -9.844 |
|
| PE/G Ratio | 2.079 | |
| Price To Sales (P/S) | 2.593 | |
| Price To Sales QoQ | 7.663 % | |
| Price To Sales YoY | -15.536 % | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | 47.12 | |
| Forward PE/G | 1.823 | |
| Forward P/S | 7.985 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.519 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.264 | |
| Asset Turnover Ratio QoQ | 4.586 % | |
| Asset Turnover Ratio YoY | 3.586 % | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | 1.983 | |
| Receivables Turnover Ratio QoQ | 1.982 % | |
| Receivables Turnover Ratio YoY | -5.013 % | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | 29.696 | |
| Inventory Turnover Ratio QoQ | 2.031 % | |
| Inventory Turnover Ratio YoY | 5.116 % | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 46.025 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 26.132 | |
| Cash Conversion Cycle Days QoQ | -9.379 % | |
| Cash Conversion Cycle Days YoY | -2.26 % | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 5.287 | |
| CapEx To Revenue | -0.032 | |
| CapEx To Depreciation | -0.709 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 48.4 B | |
| Net Invested Capital | $ 49.3 B | |
| Invested Capital | $ 49.3 B | |
| Net Tangible Assets | $ 21.5 B | |
| Net Working Capital | $ 4.4 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.405 | |
| Current Ratio | 1.274 | |
| Current Ratio QoQ | 2.224 % | |
| Current Ratio YoY | 3.449 % | |
| Current Ratio IPRWA | — | |
| Quick Ratio | 1.235 | |
| Quick Ratio QoQ | 2.295 % | |
| Quick Ratio YoY | 3.924 % | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 14.045 | |
| Cost Of Debt | 0.188 % | |
| Interest Coverage Ratio | 16.885 | |
| Interest Coverage Ratio QoQ | 24.884 % | |
| Interest Coverage Ratio YoY | 17.634 % | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | 0.111 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 23.104 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.795 | |
| Dividend Payout Ratio | 0.358 | |
| Dividend Rate | $ 1.46 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.865 % | |
| Revenue Growth | 5.507 % | |
| Revenue Growth QoQ | 4999.074 % | |
| Revenue Growth YoY | 206.285 % | |
| Revenue Growth IPRWA | — | |
| Earnings Growth | 25.849 % | |
| Earnings Growth QoQ | -170.046 % | |
| Earnings Growth YoY | 106.792 % | |
| Earnings Growth IPRWA | high: 66.667 % FDX: 25.849 % low: -92.992 % mean: -92.992 % median: -92.992 % |
|
| MARGINS | ||
| Gross Margin | 21.867 % | |
| Gross Margin QoQ | 3.625 % | |
| Gross Margin YoY | 4.903 % | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 6.907 % | |
| EBIT Margin QoQ | 18.372 % | |
| EBIT Margin YoY | 10.107 % | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | 6.907 % | |
| Return On Sales QoQ | 18.372 % | |
| Return On Sales YoY | 10.107 % | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.2 B | |
| Free Cash Flow Yield | 1.962 % | |
| Free Cash Flow Yield QoQ | -3.824 % | |
| Free Cash Flow Yield YoY | 164.777 % | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | 9.241 % | |
| Free Cash Growth QoQ | 105.675 % | |
| Free Cash Growth YoY | -51.486 % | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | 1.249 | |
| Cash Flow Margin | 7.648 % | |
| Cash Flow To Earnings | 1.878 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.077 % | |
| Return On Assets QoQ | 15.064 % | |
| Return On Assets YoY | 25.087 % | |
| Return On Assets IPRWA | — | |
| Return On Capital Employed (ROCE) | 2.222 % | |
| Return On Equity (ROE) | 0.034 | |
| Return On Equity QoQ | 14.493 % | |
| Return On Equity YoY | 21.321 % | |
| Return On Equity IPRWA | — | |
| DuPont ROE | 3.419 % | |
| Return On Invested Capital (ROIC) | 2.438 % | |
| Return On Invested Capital QoQ | 26.452 % | |
| Return On Invested Capital YoY | -110.397 % | |
| Return On Invested Capital IPRWA | — | |