FedEx (LTS:0QZX) Inventory Turnover : 27.04 (As of Feb. 2024)

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What is FedEx Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. FedEx's Cost of Goods Sold for the three months ended in Feb. 2024 was $17,199 Mil. FedEx's Average Total Inventories for the quarter that ended in Feb. 2024 was $636 Mil. FedEx's Inventory Turnover for the quarter that ended in Feb. 2024 was 27.04.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. FedEx's Days Inventory for the three months ended in Feb. 2024 was 3.37.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. FedEx's Inventory-to-Revenue for the quarter that ended in Feb. 2024 was 0.03.

FedEx Inventory Turnover Historical Data

The historical data trend for FedEx's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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FedEx Inventory Turnover Chart

FedEx Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

Inventory Turnover

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101.79

99.33

113.90

119.84

114.41

FedEx Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Inventory Turnover	Get a 7-Day Free Trial															27.36	27.02	27.48	27.85	27.04

FedEx Inventory Turnover Calculation

FedEx's Inventory Turnover for the fiscal year that ended in May. 2023 is calculated as

	Inventory Turnover (A: May. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: May. 2023 )	/ (	(Total Inventories (A: May. 2022 )	+	Total Inventories (A: May. 2023 ))	/	count )
=	70989	/ (	(637	+	604)	/	2 )
=	70989	/	620.5
=	114.41

FedEx's Inventory Turnover for the quarter that ended in Feb. 2024 is calculated as

	Inventory Turnover (Q: Feb. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Feb. 2024 )	/ (	(Total Inventories (Q: Nov. 2023 )	+	Total Inventories (Q: Feb. 2024 ))	/	count )
=	17199	/ (	(632	+	640)	/	2 )
=	17199	/	636
=	27.04

FedEx (LTS:0QZX) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

FedEx's Days Inventory for the three months ended in Feb. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Feb. 2024 )	/	Cost of Goods Sold (Q: Feb. 2024 )	*	Days in Period
	=	636	/	17199	*	365 / 4
	=	3.37

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

FedEx's Inventory to Revenue for the quarter that ended in Feb. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Feb. 2024 )	/	Revenue (Q: Feb. 2024 )
	=	636	/	21738
	=	0.03

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

FedEx Inventory Turnover Related Terms

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FedEx (LTS:0QZX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » FedEx Corp (LTS:0QZX) » Definitions » Inventory Turnover

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Address

942 South Shady Grove Road, Memphis, TN, USA, 38120

Website

https://www.fedex.com

FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2023, which ended May 2023, FedEx derived 47% of revenue from its express division, 37% from ground, and 11% from freight, its asset-based less-than-truckload shipping segment. The remainder comes from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016. TNT was previously the fourth-largest global parcel delivery provider.

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