FedEx Corporation (FDX)
Total asset turnover
| May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 86,948,000 | 86,820,000 | 87,251,000 | 87,900,000 | 89,461,000 | 91,930,000 | 93,402,000 | 94,062,000 | 92,823,000 | 90,497,000 | 88,366,000 | 85,455,000 | 82,773,000 | 78,752,000 | 74,723,000 | 71,484,000 | 69,211,000 | 69,660,000 | 69,189,000 | 69,689,000 |
| Total assets | US$ in thousands | 87,007,000 | 86,114,000 | 88,051,000 | 87,576,000 | 87,143,000 | 85,775,000 | 85,591,000 | 85,826,000 | 85,994,000 | 84,108,000 | 84,247,000 | 82,048,000 | 82,777,000 | 82,793,000 | 81,156,000 | 77,648,000 | 73,537,000 | 70,014,000 | 69,954,000 | 68,452,000 |
| Total asset turnover | 1.00 | 1.01 | 0.99 | 1.00 | 1.03 | 1.07 | 1.09 | 1.10 | 1.08 | 1.08 | 1.05 | 1.04 | 1.00 | 0.95 | 0.92 | 0.92 | 0.94 | 0.99 | 0.99 | 1.02 |
May 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $86,948,000K ÷ $87,007,000K
= 1.00
The total asset turnover ratio for FedEx Corporation has fluctuated over the past several quarters, reflecting the company's ability to generate revenue relative to its total assets. The ratio stood at around 1.00 to 1.10 from May 2022 to May 2023, indicating that FedEx effectively utilized its assets to generate sales. However, the ratio dipped below 1.00 in the following quarters, suggesting a decrease in efficiency in converting assets into revenue.
Overall, the trend in total asset turnover demonstrates varying levels of efficiency in utilizing the company's assets to generate sales during the periods analyzed. It is important for FedEx to monitor and improve this ratio to optimize asset utilization and overall profitability.