FedEx Corporation (FDX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 18,207,000 | 17,424,000 | 19,117,000 | 18,887,000 | 18,610,000 | 17,944,000 | 18,217,000 | 19,606,000 | 20,365,000 | 19,466,000 | 20,747,000 | 19,546,000 | 20,580,000 | 21,710,000 | 21,265,000 | 18,903,000 | 16,383,000 | 12,541,000 | 13,198,000 | 13,017,000 |
| 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 |
| Current ratio | 1.36 | 1.31 | 1.34 | 1.37 | 1.37 | 1.32 | 1.30 | 1.42 | 1.43 | 1.39 | 1.49 | 1.51 | 1.51 | 1.60 | 1.76 | 1.69 | 1.58 | 1.21 | 1.25 | 1.31 |
May 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $18,207,000K ÷ $13,355,000K
= 1.36
The current ratio of FedEx Corporation has been relatively stable over the past few years, ranging from 1.21 to 1.76. The current ratio measures a company's ability to meet its short-term obligations with its current assets. A current ratio above 1 indicates that a company has more current assets than current liabilities.
FedEx's current ratio has generally been above 1, indicating that the company has been able to cover its short-term liabilities with its current assets. The fluctuations in the current ratio over time may reflect changes in the company's liquidity position, potentially influenced by factors such as changes in working capital management or economic conditions.
In the most recent period, the current ratio stood at 1.36, slightly below the previous periods but still above 1, suggesting FedEx's continued ability to meet its short-term obligations. However, analysts may want to monitor any significant deviations in the current ratio to assess the company's liquidity risk and operational efficiency.