Fedex
Fedex returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q4 | May 31, 2026 | 9.59% | 7.18% | 28.58% | 14.82% | 4.75% | 1.9 pp |
| FY 2026 Q3 | Feb 28, 2026 | 9.75% | 7.68% | 11.45% | 15.85% | 4.99% | 2.1 pp |
| FY 2026 Q2 | Nov 30, 2025 | 9.98% | 7.84% | 42.18% | 15.87% | 4.97% | 2.3 pp |
| FY 2026 Q1 | Aug 31, 2025 | 9.43% | 7.32% | 12.83% | 14.98% | 4.71% | 1.7 pp |
| FY 2025 Q4 | May 31, 2025 | 9.29% | 7.15% | -10.81% | 14.69% | 4.69% | 1.6 pp |
| FY 2025 Q3 | Feb 28, 2025 | 9% | 6.92% | -45.19% | 14.74% | 4.58% | 1.3 pp |
| FY 2025 Q2 | Nov 30, 2024 | 8.91% | 6.81% | -32.11% | 14.59% | 4.48% | 1.2 pp |
| FY 2025 Q1 | Aug 31, 2024 | 9.36% | 7.04% | -2.93% | 15.05% | 4.64% | 1.7 pp |
| FY 2024 Q4 | May 31, 2024 | 10.17% | 7.55% | 33.09% | 16.12% | 4.97% | 2.5 pp |
| FY 2024 Q3 | Feb 29, 2024 | 10.12% | 7.6% | 0.45% | 17.18% | 5.11% | 2.4 pp |
| FY 2024 Q2 | Nov 30, 2023 | 9.81% | 7.3% | -52.36% | 16.83% | 4.94% | 2.1 pp |
| FY 2024 Q1 | Aug 31, 2023 | 9.85% | 7.14% | -52.76% | 16.14% | 4.82% | 2.2 pp |
| FY 2023 Q4 | May 31, 2023 | 9.31% | 6.76% | -82.54% | 15.54% | 4.59% | 1.6 pp |
| FY 2023 Q3 | Feb 28, 2023 | 10.36% | 7.49% | -80.79% | 12.13% | 3.52% | 2.7 pp |
| FY 2023 Q2 | Nov 30, 2022 | 11.19% | 7.92% | -0.24% | 13.56% | 3.92% | 3.5 pp |
| FY 2023 Q1 | Aug 31, 2022 | 12.34% | 8.55% | 146.03% | 14.49% | 4.28% | 4.6 pp |
| FY 2022 Q4 | May 31, 2022 | 12.8% | 8.87% | 83.68% | 15.55% | 4.53% | 5.1 pp |
| FY 2022 Q3 | Feb 28, 2022 | 12.19% | 8.78% | 38.85% | 22.04% | 6.15% | 4.5 pp |
| FY 2022 Q2 | Nov 30, 2021 | 11.75% | 8.32% | 49.41% | 21.34% | 5.94% | 4.1 pp |
| FY 2022 Q1 | Aug 31, 2021 | 11.97% | 8.36% | 87.37% | 23.24% | 6.38% | 4.3 pp |
| FY 2021 Q4 | May 31, 2021 | 12.51% | 8.85% | 107.29% | 24.59% | 6.69% | 4.8 pp |
| FY 2021 Q3 | Feb 28, 2021 | 10.07% | 7.04% | — | 14.81% | 3.96% | 2.4 pp |
| FY 2021 Q2 | Nov 30, 2020 | 8.68% | 6.14% | — | 12.33% | 3.25% | 1 pp |
| FY 2021 Q1 | Aug 31, 2020 | 6.75% | 4.85% | -95.36% | 9.47% | 2.44% | -0.9 pp |
| FY 2020 Q4 | May 31, 2020 | 5.44% | 4.45% | -75.88% | 7.12% | 2.01% | -2.3 pp |
| FY 2020 Q3 | Feb 29, 2020 | — | 6.21% | — | -1.82% | -0.56% | — |
| FY 2020 Q2 | Nov 30, 2019 | — | 7.28% | — | 0.38% | 0.12% | — |
| FY 2020 Q1 | Aug 31, 2019 | 10.48% | 8.67% | — | 2.39% | 0.75% | 2.8 pp |
| FY 2019 Q4 | May 31, 2019 | 11.2% | 10.14% | — | 2.9% | 1.01% | 3.5 pp |
| FY 2019 Q3 | Feb 28, 2019 | 10.69% | 10.6% | — | 18.73% | 6.84% | 3 pp |
| FY 2019 Q2 | Nov 30, 2018 | — | 11.02% | — | 27.32% | 9.6% | — |
| FY 2019 Q1 | Aug 31, 2018 | — | 11.51% | — | 26.86% | 9.5% | — |
| FY 2018 Q4 | May 31, 2018 | — | 11.69% | — | 25.73% | 9.06% | — |
| FY 2018 Q3 | Feb 28, 2018 | — | 12.15% | — | 26.18% | 9.05% | — |
| FY 2018 Q2 | Nov 30, 2017 | 11.99% | 12.37% | 25.05% | 18.68% | 6.11% | 4.3 pp |
| FY 2018 Q1 | Aug 31, 2017 | 11.97% | 12.28% | 32.34% | 18.7% | 6.06% | 4.3 pp |
| FY 2017 Q4 | May 31, 2017 | 12.89% | 12.8% | 42.94% | 20.05% | 6.34% | 5.2 pp |
| FY 2017 Q3 | Feb 28, 2017 | 9.41% | 9.52% | 14.72% | 12.91% | 4.51% | 1.7 pp |
| FY 2017 Q2 | Nov 30, 2016 | 9.44% | 9.1% | 16.56% | 12.53% | 4.37% | 1.7 pp |
| FY 2017 Q1 | Aug 31, 2016 | 9.59% | 9.2% | 16.08% | 12.51% | 4.45% | 1.9 pp |
| FY 2016 Q4 | May 31, 2016 | 9.59% | 8.9% | 14.93% | 12.64% | 4.38% | 1.9 pp |
| FY 2016 Q3 | Feb 29, 2016 | 6.04% | 5.81% | -606.32% | 6.54% | 2.69% | -1.7 pp |
| FY 2016 Q2 | Nov 30, 2015 | 6.62% | 6.38% | -64.95% | 6.97% | 2.99% | -1.1 pp |
| FY 2016 Q1 | Aug 31, 2015 | 6.32% | 6.11% | -75.56% | 6.51% | 2.84% | -1.4 pp |
| FY 2015 Q4 | May 31, 2015 | 6.77% | 6.34% | -71.28% | 6.92% | 2.99% | -0.9 pp |
| FY 2015 Q3 | Feb 28, 2015 | 14.48% | 14.15% | 31.8% | 16.19% | 7.36% | 6.8 pp |
| FY 2015 Q2 | Nov 30, 2014 | 14.16% | 13.67% | 51.07% | 14.06% | 7% | 6.5 pp |
| FY 2015 Q1 | Aug 31, 2014 | 14.11% | 13.09% | 35.3% | 13.49% | 6.68% | 6.4 pp |
| FY 2014 Q4 | May 31, 2014 | 13.49% | 12.4% | 35.17% | 12.81% | 6.29% | 5.8 pp |
| FY 2014 Q3 | Feb 28, 2014 | 11.03% | 10.16% | -4.93% | 10.64% | 5.17% | 3.3 pp |
| FY 2014 Q2 | Nov 30, 2013 | 10.85% | 9.93% | -21.53% | 9.98% | 5.1% | 3.2 pp |
| FY 2014 Q1 | Aug 31, 2013 | 11% | 9.64% | -43.44% | 9.72% | 4.94% | 3.3 pp |
| FY 2013 Q4 | May 31, 2013 | 11.18% | 9.75% | -22.87% | 9.7% | 4.92% | 3.5 pp |
| FY 2013 Q3 | Feb 28, 2013 | 11.9% | 11.54% | — | 11.05% | 5.97% | 4.2 pp |
| FY 2013 Q2 | Nov 30, 2012 | 13% | 12.63% | — | 12.5% | 6.59% | 5.3 pp |
| FY 2013 Q1 | Aug 31, 2012 | 13.69% | 13.09% | — | 13.17% | 6.93% | 6 pp |
| FY 2012 Q4 | May 31, 2012 | 14.66% | 13.55% | — | 13.55% | 7.09% | 7 pp |
| FY 2012 Q3 | Feb 29, 2012 | 13.24% | 14.23% | 69.84% | 12.95% | 7.42% | 5.5 pp |
| FY 2012 Q2 | Nov 30, 2011 | 11.86% | 12.63% | 36.61% | 11.46% | 6.42% | 4.2 pp |
| FY 2012 Q1 | Aug 31, 2011 | 10.73% | 11.43% | 14.9% | 10.26% | 5.79% | 3 pp |
| FY 2011 Q4 | May 31, 2011 | 10.75% | 11.12% | 34.95% | 10% | 5.55% | 3 pp |
| FY 2011 Q3 | Feb 28, 2011 | 9.24% | 10.38% | — | 8.97% | 5.14% | 1.5 pp |
| FY 2011 Q2 | Nov 30, 2010 | 9.53% | 10.59% | — | 9.2% | 5.21% | 1.8 pp |
| FY 2011 Q1 | Aug 31, 2010 | 10.19% | 11.37% | — | 9.88% | 5.64% | 2.5 pp |
| FY 2010 Q4 | May 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Feb 28, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Nov 30, 2009 | — | — | — | — | — | — |
| FY 2010 Q1 | Aug 31, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · FDX, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.