FedEx Corp. (FDX)
Industrials · NYSE · US
Fundamentals
Valuation and ratings
FedEx Corp. trades at $313.42, which is 50% above the $157.59 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 48 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 17.0 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About FedEx Corp.
FedEx Corporation, together with its subsidiaries, provides transportation, e-commerce, and business services in the United States and internationally. It provides e-commerce and digital solutions; dataworks; printing and shipping management, including digital printing, professional finishing, document creation, design solutions, direct mail, signs and graphics, custom-branded boxes, copying, computer rental, Wi-Fi, corporate print solutions, shredding, U.S. passport processing and renewal, and digital notarization; packing services, as well as packing supplies and boxes; document and business services; and retail access for package transportation. In addition, the company offers logistics services, air and ocean freight-forwarding and cargo transportation, specialty transportation, customs brokerage and clearance, trade management tools and data, and door-to-door solutions; and third party logistics and supply chain management solutions, such as inbound logistics, warehousing and distribution, fulfillment, contract packaging and product configuration, systems integration, returns process and disposition, test, repair, refurbishment, and product liquidation. Further, it provides sales, marketing, administrative, information technology, and back-office support services. FedEx Corporation was founded in 1971 and is headquartered in Memphis, Tennessee.
FDX passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
25 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Dodge & Cox, DODGE & COX$3.56B · 1.9% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$1.06B · 0.5% of book
- Bill Gates, GATES FOUNDATION TRUST$849.26M · 2.7% of book
- Andreas Halvorsen, VIKING GLOBAL INVESTORS LP$688.20M · 1.9% of book
- Ken Griffin, CITADEL ADVISORS LLC$406.22M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is FedEx Corp. (FDX) undervalued?
Against our discounted cash flow estimate of $157.59, FDX at $313.42 is 50% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own FDX?
25 of the institutions we track reported a position in FDX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is FDX's P/E ratio?
FDX trades at 17.0 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for FDX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.