FedEx Corporation — Earnings Quality Grade F
FDX · Industrials
Major red flags
Screening Summary
Management Signals
Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 47 days, change +5 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 0.3%, CFFO -15.4%. Cash follows revenue
Expense Quality
Inventory -2.0% vs COGS 0.3%. Normal
CapEx growth -21.7% vs revenue 0.3%. Normal
Insufficient data
Gross margin 21.6%, change -0.0pp. Stable
Cash Flow Quality
CFFO/NI = 1.72. Profits backed by cash
FCF $3.0B, FCF/NI = 0.73
Accruals ratio = -3.4%. Low accruals
Cash $5.5B covers only 15% of debt $37.4B
Balance Sheet Health
Goodwill+Intangibles $6.6B = 24% of equity. Manageable
Debt/EBITDA = 3.6x. Healthy
Other assets grew 20.5% vs revenue 0.3%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 3% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25