Question 1

What is FedEx's P/B ratio?

Accepted Answer

FedEx (FDX) P/B ratio is 2.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for FedEx?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For FedEx specifically, the relevant sector benchmark is the current sector median of 4.6×.

Question 5

Is FedEx's P/B ratio high or low?

Accepted Answer

FedEx's P/B ratio of 2.4× is above its own 5-year average of 1.9× and below the sector median of 4.6×. That places the current reading at the 91th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is FedEx's historical P/B ratio range?

Accepted Answer

In the available daily series, FedEx (FDX) P/B ratio has ranged from a low of 0.7× in 2009 to a high of 2.9× in 2017. The 5-year average is 1.9× and the 5-year median is 1.9×.

Question 7

What was FedEx's P/B ratio in 2026?

Accepted Answer

FedEx (FDX) P/B ratio at the end of 2026 was 2.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does FedEx's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$81.6B	$31.6B	2.6×	+1.1×	May 31, 2026
2025	$41.8B	$28.1B	1.5×	-0.3×	May 31, 2025
2024	$50.3B	$27.6B	1.8×	+0.1×	May 31, 2024
2023	$44.1B	$26.1B	1.7×	-0.2×	May 31, 2023
2022	$47.2B	$24.9B	1.9×	-0.9×	May 31, 2022
2021	$67.8B	$24.2B	2.8×	+1.3×	May 31, 2021
2020	$27.3B	$18.3B	1.5×	-0.3×	May 31, 2020
2019	$32.3B	$17.8B	1.8×	-0.9×	May 31, 2019
2018	$53.3B	$19.4B	2.7×	+0.1×	May 31, 2018
2017	$41.9B	$16.1B	2.6×	+0.0×	May 31, 2017
2016	$35.3B	$13.8B	2.6×	-0.1×	May 31, 2016
2015	$39.9B	$15B	2.7×	+0.5×	May 31, 2015
2014	$33.1B	$15.3B	2.2×	+0.8×	May 31, 2014
2013	$24.6B	$17.4B	1.4×	-0.1×	May 31, 2013
2012	$22.6B	$14.7B	1.5×	-0.0×	May 31, 2012
2011	$23.9B	$15.2B	1.6×	+0.1×	May 31, 2011
2010	$20.4B	$13.8B	1.5×	+0.4×	May 31, 2010
2009	$14.5B	$13.6B	1.1×	-0.5×	May 31, 2009
2008	$22.8B	$14.5B	1.6×	-0.6×	May 31, 2008
2007	$27.8B	$12.7B	2.2×	-0.1×	May 31, 2007
2006	$26.9B	$11.5B	2.3×	+0.1×	May 31, 2006
2005	$21.8B	$9.59B	2.3×	+0.1×	May 31, 2005
2004	$17.8B	$8.04B	2.2×	+0.1×	May 31, 2004
2003	$15.4B	$7.29B	2.1×	+0.1×	May 31, 2003
2002	$13B	$6.55B	2.0×	—	May 31, 2002


Honeywell International (HON)	3.4×
Thomson Reuters (TRI)	3.3×
Snap-on (SNA)	3.2×
Ingersoll Rand (IR)	3.1×
PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Delta Air Lines (DAL)	2.8×
United Airlines Holdings (UAL)	2.7×
Xylem (XYL)	2.6×
Upwork (UPWK)	2.5×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Serve Robotics (SERV)	2.0×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Andersons (ANDE)	1.9×
Archer Aviation (ACHR)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
Redwire (RDW)	1.5×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×

P/B Ratio for FedEx (FDX) 2002-2026

P/B Ratio daily chart for FedEx (FDX)

Historical P/B Ratio for FedEx (FDX) from 2002 to 2026

About P/B Ratio at FedEx (FDX)

FedEx P/B Ratio by Year

FedEx P/B Ratio 2026: 2.6×

FedEx P/B Ratio 2025: 1.5×

FedEx P/B Ratio 2024: 1.8×

FedEx P/B Ratio 2023: 1.7×

FedEx P/B Ratio 2022: 1.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

FedEx (FDX) Key Financials