Recent News
On November 24, 2025 FedEx published service updates announcing rate revisions effective January 5, 2026 and expansion of zone structures for certain global pricing programs. On January 22, 2026 the company posted a regulatory alert that U.S. Customs and Border Protection would begin issuing refunds electronically via ACH. On February 19, 2026 FedEx announced plans to invest in a large automated air cargo hub at Navi Mumbai International Airport to expand capacity in India.
Technical Analysis
ADX sits at 49.99, indicating a very strong underlying trend; that strength increases the chance of pronounced directional moves over the coming weeks.
Directional indicators display a conflict: DI+ at 42.32 shows a recent peak-and-reversal, which signals bearish pressure, while DI- at 8.62 trends lower, a bullish mechanical read; the net implication projects elevated trend tension that often resolves into a short consolidation or corrective leg.
MACD reads 18.80 and rises above its signal line at 16.18, a bullish momentum confirmation that supports continuation of the broader up-leg despite short-term exhaustion signals.
MRO stands at 22.93 and is increasing; that positive value indicates the market price trades above the oscillator’s target, which implies a higher probability of downward adjustment toward fair-value levels if momentum stalls.
RSI at 73.91 and rising places price in overbought territory, increasing the likelihood of a pause or pullback in the near term even as momentum indicators remain constructive.
Price exceeds short- and long-term averages: close $383.08 sits above the 20-day average ($359.21), 50-day average ($314.41), and 200-day average ($254.31), reinforcing that trend remains upward-biased but susceptible to mean reversion; Bollinger upper bands and a super-trend lower support level near $358 suggest defined short-term amplitude for any correction.
Fundamental Analysis
WMDST values the stock as under-valued and that view rests on operating performance and cash generation. Operating income $1.621B and EBIT $1.621B produce an EBIT margin of 6.91%, up 18.37% quarter-over-quarter and up 10.11% year-over-year; the EBIT margin sits below the industry peer median (7.161%) but above the industry peer mean (5.821%), indicating margin performance slightly lagging top peers while outperforming the peer average.
Total revenue $23.469B with reported revenue growth of 5.51%; revenue growth quarter-over-quarter reads 49.99% and year-over-year 206.29% as reported, showing a material recent uplift in topline activity. Gross margin equals 21.87% and improved both QoQ and YoY, supporting higher operating leverage.
Net income $956M and EPS $4.82 exceeded the estimate $4.11 by $0.71, an EPS surprise of 17.28%, signaling stronger-than-expected bottom-line delivery for the period. Free cash flow $1.194B yields 1.96%, modestly above the industry peer mean of 1.64% and supporting distributable cash and capital investment.
Leverage metrics present dual signals: debt-to-assets at 42.35% aligns near the industry peer mean, while debt-to-EBITDA at 14.04x indicates heavy leverage relative to operating earnings. Interest coverage of 16.89x provides substantial buffer versus peers, reducing immediate solvency concern despite elevated gross indebtedness.
Return metrics show ROE 3.40% and ROA 1.08%, both below the industry peer mean levels, reflecting capital intensity and recent earnings growth dynamics. Cash and short-term investments $6.57B and operating cash flow $1.951B sustain liquidity; current ratio 1.27 and quick ratio 1.23 provide modest working-capital cover.
Valuation snapshot: P/E ~53.7, forward P/E ~47.1, price-to-book ~2.16 and enterprise multiple ~34.23. The market pricing places upside potential in consensus high-case targets but the mean price target ($372.39) sits slightly below the current close. WMDST’s under-valued determination reflects cash-flow strength, free-cash-flow yield above peer mean, and operating improvement offsetting elevated leverage and a rich trailing P/E.
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 | $ 7.8 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 | $ 5.41 | |
| 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 | high: 111.108 median: 75.058 mean: 59.091 FDX: 34.234 low: -219.351 |
|
| 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 | high: 0.554 median: 0.499 FDX: 0.423 mean: 0.396 low: 0.204 |
|
| Debt To Equity | 1.342 | |
| Debt To Equity QoQ | -1.676 % | |
| Debt To Equity YoY | 5899.464 % | |
| Debt To Equity IPRWA | high: 2.844 median: 2.198 mean: 1.61 FDX: 1.342 low: 0.401 |
|
| 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 | high: 10.221 median: 9.141 mean: 8.044 FDX: 2.163 low: 1.334 |
|
| Price To Earnings (P/E) | 53.73 | |
| Price To Earnings QoQ | -9.372 % | |
| Price To Earnings YoY | -22.289 % | |
| Price To Earnings IPRWA | high: 219.55 mean: 119.897 FDX: 53.73 median: 53.302 low: -54.552 |
|
| 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 | high: 8.459 mean: 5.566 median: 4.821 FDX: 2.593 low: 0.815 |
|
| 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 | high: 0.761 mean: 0.46 FDX: 0.264 median: 0.245 low: 0.194 |
|
| Receivables Turnover | 1.983 | |
| Receivables Turnover Ratio QoQ | 1.982 % | |
| Receivables Turnover Ratio YoY | -5.013 % | |
| Receivables Turnover Ratio IPRWA | high: 2.301 FDX: 1.983 median: 1.797 mean: 1.717 low: 1.261 |
|
| Inventory Turnover | 29.696 | |
| Inventory Turnover Ratio QoQ | 2.031 % | |
| Inventory Turnover Ratio YoY | 5.116 % | |
| Inventory Turnover Ratio IPRWA | FDX: 29.696 high: 13.044 median: 5.965 mean: 5.753 low: 1.04 |
|
| 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 | high: 116.203 FDX: 26.132 mean: 25.978 low: 25.694 median: 25.694 |
|
| 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 | high: 1.592 FDX: 1.274 mean: 1.233 median: 1.048 low: 0.89 |
|
| Quick Ratio | 1.235 | |
| Quick Ratio QoQ | 2.295 % | |
| Quick Ratio YoY | 3.924 % | |
| Quick Ratio IPRWA | high: 1.347 FDX: 1.235 median: 0.689 mean: 0.664 low: 0.339 |
|
| 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 | FDX: 16.885 high: 12.233 mean: 6.284 median: 2.77 low: -4.667 |
|
| 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 | FDX: 5.507 % high: 3.378 % mean: -3.702 % median: -4.737 % low: -5.42 % |
|
| Earnings Growth | 25.849 % | |
| Earnings Growth QoQ | -170.046 % | |
| Earnings Growth YoY | 106.792 % | |
| Earnings Growth IPRWA | high: 237.5 % FDX: 25.849 % mean: 1.617 % median: -53.165 % low: -75.342 % |
|
| MARGINS | ||
| Gross Margin | 21.867 % | |
| Gross Margin QoQ | 3.625 % | |
| Gross Margin YoY | 4.903 % | |
| Gross Margin IPRWA | FDX: 21.867 % high: 19.987 % mean: 11.678 % median: 11.586 % low: 8.179 % |
|
| EBIT Margin | 6.907 % | |
| EBIT Margin QoQ | 18.372 % | |
| EBIT Margin YoY | 10.107 % | |
| EBIT Margin IPRWA | high: 8.692 % median: 7.161 % FDX: 6.907 % mean: 5.821 % low: -2.859 % |
|
| Return On Sales (ROS) | 6.907 % | |
| Return On Sales QoQ | 18.372 % | |
| Return On Sales YoY | 10.107 % | |
| Return On Sales IPRWA | high: 9.099 % median: 8.056 % FDX: 6.907 % mean: 6.327 % low: -5.314 % |
|
| 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 | high: 4.561 % FDX: 1.962 % mean: 1.639 % median: 1.536 % low: -0.372 % |
|
| Free Cash Growth | 9.241 % | |
| Free Cash Growth QoQ | 105.675 % | |
| Free Cash Growth YoY | -51.486 % | |
| Free Cash Growth IPRWA | high: 1091.402 % FDX: 9.241 % median: -44.186 % mean: -96.354 % low: -504.706 % |
|
| 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 | high: 2.651 % mean: 1.411 % FDX: 1.077 % median: 0.802 % low: -1.42 % |
|
| 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 | high: 0.074 mean: 0.048 median: 0.043 FDX: 0.034 low: -0.03 |
|
| 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 | high: 5.058 % mean: 2.96 % FDX: 2.438 % median: 1.946 % low: -1.948 % |
|