FedExXSWX:FDX -0.22%83 ROC (Joel Greenblatt) % is 10.39% as of Feb. 2026, which is 4% below its 10-year median of 10.83. GuruFocus rates XSWX:FDX with a GF Score™ of 83/100 and a GF Value™ of CHF186.62. The stock has 9 warning signs investors should review. Among 996 Transportation companies, FedEx ranks worse than 52.51% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. FedEx's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 10.39%.
The historical rank and industry rank for FedEx's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:FDX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.94 Med: 10.83 Max: 19.77
Current: 11.2
During the past 13 years, FedEx's highest ROC (Joel Greenblatt) % was 19.77%. The lowest was 3.94%. And the median was 10.83%.
XSWX:FDX's ROC (Joel Greenblatt) % is ranked worse than 52.51% of 996
companies
in the Transportation industry
Industry Median: 11.695
vs XSWX:FDX: 11.20
FedEx's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 21.30% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
The historical data trend for FedEx's ROC (Joel Greenblatt) % 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.
XSWX:FDX vs UPS, JBHT, FDXF: ROC (Joel Greenblatt) % Comparison
For the Integrated Freight & Logistics subindustry, FedEx's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Transportation Industry
For the Transportation industry and Industrials sector, FedEx's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where FedEx's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Feb. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 10.39% mean?
FedEx (XSWX:FDX) has a ROC (Joel Greenblatt) % of 10.39% as of Feb. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on FedEx and its competitors. This is near median its historical median of 10.83. Over the past decade, FedEx's ROC (Joel Greenblatt) % has ranged from 3.94 to 19.77. According to the industry distribution chart, FedEx ranks #523 out of 996 companies in the Transportation industry, placing it in the top 52.5%.
Is FedEx's ROC (Joel Greenblatt) % too high?
FedEx's current ROC (Joel Greenblatt) % of 10.39% is near median its 10-year median of 10.83. Over the past 10 years, this metric has ranged from a low of 3.94 to a high of 19.77. The Transportation industry median ROC (Joel Greenblatt) % is 11.70. FedEx's value of 10.39% is 11.2% below this industry median. Based on the distribution chart, FedEx ranks #523 out of 996 companies in the Transportation industry, which is below the industry midpoint. Overall, FedEx has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does FedEx's ROC (Joel Greenblatt) % compare to UPS and JBHT?
According to the Transportation industry distribution chart, FedEx ranks #523 out of 996 companies for ROC (Joel Greenblatt) %. This places FedEx in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 11.70. FedEx's value of 10.39% is 11.2% below this benchmark. Historically, FedEx's own ROC (Joel Greenblatt) % has ranged from 3.94 to 19.77 over the past decade. While the company's 10-year median is 10.83 vs. the industry median of 11.70, FedEx has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Transportation company?
The median ROC (Joel Greenblatt) % among Transportation companies is 11.70, based on 996 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. FedEx's current ROC (Joel Greenblatt) % of 10.39% is 11.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on FedEx and its competitors. For the Transportation industry, the median ROC (Joel Greenblatt) % is 11.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FedEx's current ROC (Joel Greenblatt) % is 10.39%, which is near median its own 10-year median of 10.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FedEx stock overvalued right now?
FedEx (XSWX:FDX) has a current ROC (Joel Greenblatt) % of 10.39%. The stock's GF Value™ is CHF186.62, compared to a current price of CHF262.36 — trading 40.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 10.39%, which is near median its 10-year median of 10.83 and 11.2% below the Transportation industry median of 11.70. FedEx's overall GF Score™ is 83/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For FedEx (XSWX:FDX), the current ROC (Joel Greenblatt) % is 10.39% as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is FedEx (XSWX:FDX) Overvalued in 2026?
Based on GuruFocus' analysis, FedEx stock appears to be overvalued.
The current stock price of CHF262.36 is trading 40.6% above its estimated GF Value™ of CHF186.62.
Key valuation signals for XSWX:FDX:
ROC (Joel Greenblatt) %: 10.39% (near median its 10-year median of 10.83)
GF Value™: CHF186.62 vs. price of CHF262.36 (40.6% above fair value)
Industry Position: 11.2% below the Transportation median (#523 of 996)
No single metric tells the full story. See the XSWX:FDX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. Following the June 2026 spinoff of FedEx Freight (less-than-truckload shipping), the firm's Federal Express segment—which houses the core package delivery operations—makes up more than 95% of total revenue (previously 87%). The remainder stems 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.
83GF Score
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