Question 1

What is FedEx's P/E ratio?

Accepted Answer

FedEx (FDX) P/E ratio is 17.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for FedEx?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For FedEx specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

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

Accepted Answer

FedEx's P/E ratio of 17.4× is above its own 5-year average of 12.5× and below the sector median of 27.8×. That places the current reading at the 98th 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/E ratio range?

Accepted Answer

In the available daily series, FedEx (FDX) P/E ratio has ranged from a low of 8.2× in 2022 to a high of 448.5× in 2019. The 5-year average is 12.5× and the 5-year median is 12.2×.

Question 7

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

Accepted Answer

FedEx (FDX) P/E ratio at the end of 2026 was 18.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$4.43B	18.4×	+8.2×	May 31, 2026
2025	$41.8B	$4.09B	10.2×	-1.4×	May 31, 2025
2024	$50.3B	$4.33B	11.6×	+0.5×	May 31, 2024
2023	$44.1B	$3.97B	11.1×	-1.2×	May 31, 2023
2022	$47.2B	$3.83B	12.3×	-0.6×	May 31, 2022
2021	$67.8B	$5.23B	13.0×	-8.2×	May 31, 2021
2020	$27.3B	$1.29B	21.2×	-38.6×	May 31, 2020
2019	$32.3B	$540M	59.8×	+48.2×	May 31, 2019
2018	$53.3B	$4.57B	11.7×	-2.3×	May 31, 2018
2017	$41.9B	$3B	14.0×	-5.4×	May 31, 2017
2016	$35.3B	$1.82B	19.4×	-18.6×	May 31, 2016
2015	$39.9B	$1.05B	38.0×	+22.2×	May 31, 2015
2014	$33.1B	$2.1B	15.8×	+0.1×	May 31, 2014
2013	$24.6B	$1.56B	15.7×	+4.6×	May 31, 2013
2012	$22.6B	$2.03B	11.1×	-5.3×	May 31, 2012
2011	$23.9B	$1.45B	16.5×	-0.8×	May 31, 2011
2010	$20.4B	$1.18B	17.2×	-130.7×	May 31, 2010
2009	$14.5B	$98M	147.9×	+127.6×	May 31, 2009
2008	$22.8B	$1.13B	20.3×	+6.5×	May 31, 2008
2007	$27.8B	$2.02B	13.8×	-1.1×	May 31, 2007
2006	$26.9B	$1.81B	14.9×	-0.2×	May 31, 2006
2005	$21.8B	$1.45B	15.1×	-6.2×	May 31, 2005
2004	$17.8B	$838M	21.2×	+2.7×	May 31, 2004
2003	$15.4B	$830M	18.5×	+0.2×	May 31, 2003
2002	$13B	$710M	18.3×	—	May 31, 2002


General Dynamics (GD)	21.9×
Pentair (PNR)	21.1×
Lennox International (LII)	20.6×
Copart (CPRT)	20.4×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Andersons (ANDE)	19.0×
Carlisle Companies (CSL)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
Honeywell International (HON)	17.5×
A. O. Smith (AOS)	17.4×
Textron (TXT)	16.6×
Northrop Grumman (NOC)	16.1×
United Parcel Service (UPS)	15.9×
Delta Air Lines (DAL)	15.5×
ABM Industries (ABM)	15.2×
Masco (MAS)	14.6×
Upwork (UPWK)	12.9×
United Airlines Holdings (UAL)	12.7×
AGCO (AGCO)	10.9×

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

P/E Ratio daily chart for FedEx (FDX)

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

About P/E Ratio at FedEx (FDX)

FedEx P/E Ratio by Year

FedEx P/E Ratio 2026: 18.4×

FedEx P/E Ratio 2025: 10.2×

FedEx P/E Ratio 2024: 11.6×

FedEx P/E Ratio 2023: 11.1×

FedEx P/E Ratio 2022: 12.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

FedEx (FDX) Key Financials