FedEx Corporation
FDX · scored from FY2025 filings · Narrow moat
On the watchlist
The four filters
Pricing power100
Median gross margin 76.9% over 3y, very stable.
Returns on capital52
Median ROIC 10.6%, above the 9% hurdle in 80% of years.
Balance-sheet safety79
Net debt/EBITDA 1.5x, interest coverage 25x.
Capital discipline73
Owner earnings +10.0%/yr, share count flat.
Margin of safety
Above valueOn sale
- Owner earnings (normalized)
- $4.3B
- Est. intrinsic value / share
- $150.28
- Recent price
- —
- Discount to value
- No price data
Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).
Moat Score history
Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.