FedEx Corporation (FDX)
Total asset turnover
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 86,948,000 | 89,461,000 | 92,823,000 | 82,773,000 | 68,545,000 |
| Total assets | US$ in thousands | 87,007,000 | 87,143,000 | 85,994,000 | 82,777,000 | 73,537,000 |
| Total asset turnover | 1.00 | 1.03 | 1.08 | 1.00 | 0.93 |
May 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $86,948,000K ÷ $87,007,000K
= 1.00
The total asset turnover for FedEx Corporation has fluctuated over the past five years, ranging from 0.93 to 1.08. This ratio indicates the efficiency of the company in generating revenue from its total assets. A total asset turnover of 1.00 in 2024 suggests that FedEx generated revenue equal to its total assets for the year. Comparing it to the previous years, a slight decrease from 1.03 in 2023 to 1.00 in 2024 may indicate a slightly lower efficiency in utilizing assets to generate revenue. However, it is important to consider the industry dynamics and other financial metrics to gain a holistic understanding of FedEx Corporation's performance.