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FedEx (MIL:1FDX) Cyclically Adjusted FCF per Share : €5.97 (As of Feb. 2025)


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What is FedEx Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

FedEx's adjusted free cash flow per share for the three months ended in Feb. 2025 was €4.026. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is €5.97 for the trailing ten years ended in Feb. 2025.

During the past 12 months, FedEx's average Cyclically Adjusted FCF Growth Rate was 19.10% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 27.10% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 33.80% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 7.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of FedEx was 91.30% per year. The lowest was -17.10% per year. And the median was 8.70% per year.

As of today (2025-04-25), FedEx's current stock price is €180.72. FedEx's Cyclically Adjusted FCF per Share for the quarter that ended in Feb. 2025 was €5.97. FedEx's Cyclically Adjusted Price-to-FCF of today is 30.27.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of FedEx was 210.03. The lowest was 33.31. And the median was 76.06.


FedEx Cyclically Adjusted FCF per Share Historical Data

The historical data trend for FedEx's Cyclically Adjusted FCF per Share 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.

* Premium members only.

FedEx Cyclically Adjusted FCF per Share Chart

FedEx Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - 5.02

FedEx Quarterly Data
May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.78 5.02 5.06 5.56 5.97

Competitive Comparison of FedEx's Cyclically Adjusted FCF per Share

For the Integrated Freight & Logistics subindustry, FedEx's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


FedEx's Cyclically Adjusted Price-to-FCF Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, FedEx's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where FedEx's Cyclically Adjusted Price-to-FCF falls into.


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FedEx Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, FedEx's adjusted Free Cash Flow per Share data for the three months ended in Feb. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Feb. 2025 (Change)*Current CPI (Feb. 2025)
=4.026/134.6241*134.6241
=4.026

Current CPI (Feb. 2025) = 134.6241.

FedEx Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201505 1.623 100.333 2.178
201508 0.100 100.548 0.134
201511 -0.461 100.135 -0.620
201602 1.122 100.040 1.510
201605 2.124 101.355 2.821
201608 -0.809 101.617 -1.072
201611 0.680 101.829 0.899
201702 -3.808 102.779 -4.988
201705 3.214 103.256 4.190
201708 -1.414 103.587 -1.838
201711 -2.096 104.072 -2.711
201802 -5.071 105.052 -6.498
201805 5.732 106.148 7.270
201808 -1.539 106.383 -1.948
201811 0.076 106.338 0.096
201902 0.070 106.649 0.088
201905 1.901 108.048 2.369
201908 -2.927 108.245 -3.640
201911 -1.171 108.519 -1.453
202002 -0.823 109.139 -1.015
202005 2.296 108.175 2.857
202008 3.942 109.662 4.839
202011 3.702 109.793 4.539
202102 2.407 110.968 2.920
202105 3.222 113.576 3.819
202108 1.612 115.421 1.880
202111 1.389 117.269 1.595
202202 3.364 119.703 3.783
202205 4.068 123.323 4.441
202208 1.217 124.958 1.311
202211 -1.303 125.607 -1.397
202302 3.684 126.928 3.907
202305 6.156 128.314 6.459
202308 3.394 129.538 3.527
202311 1.713 129.548 1.780
202402 0.857 130.930 0.881
202405 5.580 132.509 5.669
202408 1.542 132.816 1.563
202411 1.930 133.110 1.952
202502 4.026 134.624 4.026

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


FedEx  (MIL:1FDX) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

FedEx's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=180.72/5.97
=30.27

* 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.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of FedEx was 210.03. The lowest was 33.31. And the median was 76.06.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


FedEx Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of FedEx's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


FedEx Business Description

Industry
Address
942 South Shady Grove Road, Memphis, TN, USA, 38120
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2024, which ended in May, FedEx derived 47% of revenue from its express division, 37% from ground, and 10% from freight, its asset-based less-than-truckload shipping segment. The remainder came 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, boosting its presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.

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