FedEx Corporation (FDX)
Operating return on assets (Operating ROA)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 5,217,000 | 5,411,000 | 5,362,000 | 5,586,000 | 5,991,000 | 5,507,000 | 4,521,000 | 4,421,000 | 4,127,000 | 3,650,000 | 4,933,000 | 5,354,000 | 5,561,000 | 6,332,000 | 5,797,000 | 5,665,000 | 5,857,000 | 4,535,000 | 3,941,000 | 3,030,000 |
| Total assets | US$ in thousands | 129,102,000 | 85,043,000 | 85,481,000 | 86,711,000 | 87,007,000 | 86,114,000 | 88,051,000 | 87,576,000 | 87,110,000 | 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 |
| Operating ROA | 4.04% | 6.36% | 6.27% | 6.44% | 6.89% | 6.40% | 5.13% | 5.05% | 4.74% | 4.26% | 5.76% | 6.24% | 6.47% | 7.53% | 6.88% | 6.90% | 7.08% | 5.48% | 4.86% | 3.90% |
May 31, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $5,217,000K ÷ $129,102,000K
= 4.04%
The operating return on assets (ROA) of FedEx Corporation has demonstrated notable fluctuations over the period analyzed, with a general trend toward recovery following periods of decline. Starting with a figure of 3.90% on August 31, 2020, the metric showed consistent improvement through late 2020 and into 2021, reaching 7.08% by May 31, 2021. This upward trajectory was largely maintained in the second half of 2021, with the operating ROA achieving a peak of 7.53% on February 28, 2022.
However, subsequent periods depicted a downward trend, with the figure decreasing to 6.24% by August 31, 2022, and further down to 4.26% as of February 28, 2023. A partial recovery occurred afterward, with the operating ROA rising to 6.89% by May 31, 2024, and maintaining a level above 6% in the latest data for November 30, 2024, and February 28, 2025, despite a notable decline to 4.04% on May 31, 2025.
Overall, the data indicates that FedEx's operating ROA experienced periods of strong performance within 2021 and early 2022 but faced periods of decline predominantly in late 2022 and early 2023. The subsequent partial recovery suggests an improvement in operational efficiency or asset utilization, although the recent downward movement on May 31, 2025, indicates ongoing variability in operational profitability relative to assets.