FedEx Corporation (FDX)
Total asset turnover
| May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 87,926,000 | 87,693,000 | 90,155,000 | 93,512,000 | 83,959,000 |
| Total assets | US$ in thousands | 87,663,000 | 87,007,000 | 87,110,000 | 85,994,000 | 82,777,000 |
| Total asset turnover | 1.00 | 1.01 | 1.03 | 1.09 | 1.01 |
May 31, 2025 calculation
Total asset turnover = Revenue ÷ Total assets
= $87,926,000K ÷ $87,663,000K
= 1.00
The total asset turnover ratio for FedEx Corporation over the specified period reflects a relatively stable utilization of its assets in generating revenue. As of May 31, 2021, the ratio stood at 1.01, indicating that the company generated approximately $1.01 in revenue for each dollar of assets employed. This ratio increased slightly in the subsequent year, reaching 1.09 as of May 31, 2022, suggesting improved efficiency or higher revenue generation relative to its asset base.
However, the ratio declined marginally in the following years, returning to 1.03 by May 31, 2023, and further decreasing to 1.01 by May 31, 2024. The ratio maintained stability into 2025, settling at 1.00. This slight downward trend from the peak in 2022 indicates a modest reduction in asset utilization efficiency. Overall, the total asset turnover ratio suggests that FedEx's ability to generate revenue from its assets has remained relatively consistent over this period, with minor fluctuations. This stability may reflect a steady operational environment, though the slight decline post-2022 warrants attention for potential underlying factors influencing asset efficiency.