FedEx Corporation (FDX)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 6,501,000 | 5,644,000 | 6,729,000 | 7,055,000 | 6,856,000 | 5,373,000 | 4,646,000 | 6,850,000 | 6,897,000 | 6,065,000 | 6,833,000 | 6,853,000 | 7,087,000 | 8,856,000 | 8,339,000 | 6,954,000 | 4,881,000 | 1,766,000 | 2,031,000 | 2,389,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | 24,168,000 | 21,981,000 | 21,039,000 | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 13,355,000 | 13,308,000 | 14,248,000 | 13,811,000 | 13,586,000 | 13,580,000 | 14,039,000 | 13,765,000 | 14,274,000 | 13,990,000 | 13,884,000 | 12,910,000 | 13,660,000 | 13,566,000 | 12,115,000 | 11,195,000 | 10,344,000 | 10,325,000 | 10,547,000 | 9,935,000 |
| Cash ratio | 0.49 | 0.42 | 0.47 | 0.51 | 0.50 | 0.40 | 0.33 | 0.50 | 0.48 | 0.43 | 0.49 | 0.53 | 2.29 | 2.27 | 2.42 | 0.62 | 0.47 | 0.17 | 0.19 | 0.24 |
May 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($6,501,000K
+ $—K)
÷ $13,355,000K
= 0.49
The Cash Ratio of FedEx Corporation has shown fluctuations over the past few quarters. The ratio has ranged from a low of 0.17 to a high of 2.42, indicating varying levels of liquidity.
The most recent data point shows a Cash Ratio of 0.49, suggesting that the company has $0.49 in cash and cash equivalents for every $1 of current liabilities. This indicates a relatively strong liquidity position, as the company has adequate cash to cover its short-term obligations.
It is noteworthy that the Cash Ratio spiked significantly in the first and second quarters of 2021, reaching 2.29 and 2.27, respectively. This sharp increase may be attributed to temporary factors such as the timing of cash flows or certain financial transactions.
Overall, fluctuations in the Cash Ratio should be closely monitored to assess the company's ability to meet its short-term obligations and manage liquidity efficiently.