FedEx Corp.、合并资产负债表结构：负债和股东权益（季度数据）
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2025年8月31日 |
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2025年5月31日 |
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2025年2月28日 |
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2024年11月30日 |
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2024年8月31日 |
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2024年5月31日 |
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2024年2月29日 |
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2023年11月30日 |
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2023年8月31日 |
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2023年5月31日 |
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2023年2月28日 |
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2022年11月30日 |
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2022年8月31日 |
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2022年5月31日 |
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2022年2月28日 |
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2021年11月30日 |
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2021年8月31日 |
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2021年5月31日 |
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2021年2月28日 |
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2020年11月30日 |
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2020年8月31日 |
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2020年5月31日 |
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2020年2月29日 |
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2019年11月30日 |
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2019年8月31日 |
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短期借款 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.43% | |
0.21% | |
0.00% | |
|
|
长期债务的流动部分 |
1.00% | |
1.63% | |
0.72% | |
0.69% | |
0.72% | |
0.08% | |
0.08% | |
0.38% | |
0.40% | |
0.14% | |
0.17% | |
0.20% | |
0.16% | |
0.10% | |
0.14% | |
0.14% | |
0.15% | |
0.18% | |
0.78% | |
0.12% | |
0.11% | |
0.07% | |
0.05% | |
0.02% | |
0.05% | |
|
|
应计工资和员工福利 |
2.64% | |
3.12% | |
3.06% | |
3.17% | |
2.69% | |
3.07% | |
2.95% | |
3.10% | |
2.70% | |
2.84% | |
2.64% | |
2.83% | |
2.64% | |
2.94% | |
2.96% | |
3.01% | |
2.68% | |
3.51% | |
2.80% | |
2.66% | |
2.26% | |
2.13% | |
2.10% | |
2.33% | |
2.22% | |
|
|
应付帐款 |
4.78% | |
4.21% | |
4.24% | |
4.56% | |
4.31% | |
3.67% | |
4.39% | |
4.55% | |
4.33% | |
4.42% | |
4.65% | |
4.66% | |
4.86% | |
4.69% | |
4.98% | |
4.97% | |
4.66% | |
4.64% | |
4.82% | |
4.60% | |
4.30% | |
4.45% | |
4.56% | |
4.69% | |
4.64% | |
|
|
经营租赁负债的流动部分 |
2.93% | |
2.93% | |
2.97% | |
2.97% | |
2.89% | |
2.83% | |
2.84% | |
2.76% | |
2.72% | |
2.74% | |
2.85% | |
2.92% | |
2.88% | |
2.84% | |
2.85% | |
2.81% | |
2.76% | |
2.67% | |
2.58% | |
2.62% | |
2.61% | |
2.62% | |
2.72% | |
2.76% | |
2.77% | |
|
|
应计费用 |
6.21% | |
5.70% | |
5.36% | |
5.45% | |
5.66% | |
5.70% | |
5.19% | |
5.39% | |
5.62% | |
5.45% | |
5.52% | |
5.80% | |
5.51% | |
6.03% | |
5.71% | |
5.54% | |
5.48% | |
5.51% | |
5.41% | |
4.93% | |
5.14% | |
4.80% | |
4.89% | |
5.06% | |
4.83% | |
|
|
流动负债 |
17.56% |
|
17.59% |
|
16.34% |
|
16.84% |
|
16.27% |
|
15.35% |
|
15.45% |
|
16.18% |
|
15.77% |
|
15.59% |
|
15.83% |
|
16.40% |
|
16.04% |
|
16.60% |
|
16.63% |
|
16.48% |
|
15.73% |
|
16.50% |
|
16.39% |
|
14.93% |
|
14.42% |
|
14.07% |
|
14.75% |
|
15.08% |
|
14.51% |
|
|
|
长期债务，减去流动部分 |
22.95% | |
21.86% | |
22.96% | |
22.73% | |
22.68% | |
23.14% | |
23.37% | |
22.93% | |
23.00% | |
23.47% | |
23.46% | |
23.46% | |
23.21% | |
23.47% | |
24.25% | |
24.20% | |
25.05% | |
25.05% | |
27.53% | |
28.61% | |
29.88% | |
29.85% | |
27.10% | |
26.72% | |
27.36% | |
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递延所得税 |
4.58% | |
4.80% | |
5.07% | |
5.19% | |
5.17% | |
5.15% | |
5.08% | |
4.98% | |
5.08% | |
5.15% | |
5.03% | |
4.89% | |
4.82% | |
4.76% | |
5.15% | |
4.94% | |
4.84% | |
4.74% | |
4.30% | |
4.28% | |
4.08% | |
4.30% | |
4.43% | |
4.39% | |
4.31% | |
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|
养老金、退休后医疗保健和其他福利义务 |
1.91% | |
1.94% | |
1.96% | |
1.84% | |
2.05% | |
2.31% | |
2.93% | |
3.24% | |
3.45% | |
3.59% | |
4.41% | |
4.81% | |
4.72% | |
5.17% | |
3.69% | |
3.98% | |
4.21% | |
4.23% | |
5.76% | |
6.27% | |
6.49% | |
6.83% | |
5.95% | |
5.94% | |
6.04% | |
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自我保险应计项目 |
4.67% | |
4.60% | |
4.60% | |
4.47% | |
4.42% | |
4.25% | |
4.45% | |
4.19% | |
4.09% | |
3.83% | |
3.73% | |
3.63% | |
3.54% | |
3.36% | |
3.09% | |
3.08% | |
3.03% | |
2.94% | |
2.79% | |
2.77% | |
2.77% | |
2.86% | |
2.76% | |
2.75% | |
2.81% | |
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|
经营租赁负债，减去流动部分 |
15.99% | |
16.29% | |
16.89% | |
17.21% | |
17.26% | |
17.30% | |
17.28% | |
17.29% | |
17.51% | |
17.63% | |
17.92% | |
17.86% | |
17.61% | |
16.85% | |
17.18% | |
16.56% | |
16.31% | |
16.16% | |
15.69% | |
16.03% | |
16.37% | |
16.58% | |
17.47% | |
17.77% | |
17.73% | |
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|
其他责任 |
0.92% | |
0.89% | |
0.77% | |
0.76% | |
0.80% | |
0.79% | |
0.80% | |
0.79% | |
0.79% | |
0.80% | |
0.79% | |
0.77% | |
0.76% | |
0.79% | |
0.86% | |
1.15% | |
1.19% | |
1.19% | |
0.98% | |
1.19% | |
0.93% | |
0.63% | |
0.65% | |
0.68% | |
0.70% | |
|
|
其他长期负债 |
28.08% |
|
28.52% |
|
29.29% |
|
29.48% |
|
29.71% |
|
29.81% |
|
30.55% |
|
30.49% |
|
30.93% |
|
31.00% |
|
31.87% |
|
31.97% |
|
31.46% |
|
30.93% |
|
29.96% |
|
29.72% |
|
29.57% |
|
29.25% |
|
29.53% |
|
30.54% |
|
30.63% |
|
31.20% |
|
31.26% |
|
31.53% |
|
31.59% |
|
|
|
长期负债 |
51.03% |
|
50.37% |
|
52.25% |
|
52.21% |
|
52.39% |
|
52.95% |
|
53.92% |
|
53.42% |
|
53.93% |
|
54.47% |
|
55.33% |
|
55.42% |
|
54.67% |
|
54.40% |
|
54.21% |
|
53.92% |
|
54.62% |
|
54.30% |
|
57.07% |
|
59.15% |
|
60.52% |
|
61.05% |
|
58.36% |
|
58.25% |
|
58.95% |
|
|
|
负债合计 |
68.59% |
|
67.96% |
|
68.59% |
|
69.05% |
|
68.66% |
|
68.30% |
|
69.37% |
|
69.60% |
|
69.70% |
|
70.06% |
|
71.17% |
|
71.83% |
|
70.71% |
|
71.00% |
|
70.84% |
|
70.40% |
|
70.36% |
|
70.80% |
|
73.45% |
|
74.08% |
|
74.94% |
|
75.12% |
|
73.10% |
|
73.33% |
|
73.46% |
|
|
|
普通股，面值 0.10 美元 |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.04% | |
0.05% | |
0.05% | |
0.05% | |
|
|
额外实收资本 |
4.89% | |
4.90% | |
4.99% | |
4.87% | |
4.77% | |
4.58% | |
4.53% | |
4.37% | |
4.34% | |
4.33% | |
4.35% | |
4.07% | |
4.37% | |
4.32% | |
4.38% | |
4.34% | |
4.40% | |
4.21% | |
4.16% | |
4.19% | |
4.35% | |
4.56% | |
4.75% | |
4.70% | |
4.76% | |
|
|
留存收益 |
46.98% | |
47.25% | |
46.75% | |
45.83% | |
44.71% | |
44.42% | |
43.17% | |
41.57% | |
41.13% | |
40.46% | |
39.69% | |
39.21% | |
38.52% | |
38.12% | |
38.31% | |
37.16% | |
37.13% | |
36.02% | |
33.73% | |
33.53% | |
33.62% | |
34.29% | |
36.52% | |
36.35% | |
36.59% | |
|
|
累计其他综合亏损 |
-1.55% | |
-1.55% | |
-1.76% | |
-1.77% | |
-1.54% | |
-1.56% | |
-1.55% | |
-1.47% | |
-1.55% | |
-1.52% | |
-1.52% | |
-1.62% | |
-1.53% | |
-1.28% | |
-1.05% | |
-1.16% | |
-1.07% | |
-0.88% | |
-0.92% | |
-1.11% | |
-1.31% | |
-1.56% | |
-1.27% | |
-1.24% | |
-1.34% | |
|
|
库存股，按成本计算 |
-18.95% | |
-18.59% | |
-18.61% | |
-18.01% | |
-16.64% | |
-15.78% | |
-15.55% | |
-14.11% | |
-13.66% | |
-13.36% | |
-13.72% | |
-13.52% | |
-12.10% | |
-12.19% | |
-12.52% | |
-10.77% | |
-10.85% | |
-10.18% | |
-10.45% | |
-10.72% | |
-11.63% | |
-12.46% | |
-13.15% | |
-13.19% | |
-13.52% | |
|
|
普通股股东投资 |
31.41% |
|
32.04% |
|
31.41% |
|
30.95% |
|
31.34% |
|
31.70% |
|
30.63% |
|
30.40% |
|
30.30% |
|
29.94% |
|
28.83% |
|
28.17% |
|
29.29% |
|
29.00% |
|
29.16% |
|
29.60% |
|
29.64% |
|
29.20% |
|
26.55% |
|
25.92% |
|
25.06% |
|
24.88% |
|
26.90% |
|
26.67% |
|
26.54% |
|
|
|
负债总额和普通股股东投资 |
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
根据报告：
10-Q (报告日期： 2025-08-31), 10-K (报告日期： 2025-05-31), 10-Q (报告日期： 2025-02-28), 10-Q (报告日期： 2024-11-30), 10-Q (报告日期： 2024-08-31), 10-K (报告日期： 2024-05-31), 10-Q (报告日期： 2024-02-29), 10-Q (报告日期： 2023-11-30), 10-Q (报告日期： 2023-08-31), 10-K (报告日期： 2023-05-31), 10-Q (报告日期： 2023-02-28), 10-Q (报告日期： 2022-11-30), 10-Q (报告日期： 2022-08-31), 10-K (报告日期： 2022-05-31), 10-Q (报告日期： 2022-02-28), 10-Q (报告日期： 2021-11-30), 10-Q (报告日期： 2021-08-31), 10-K (报告日期： 2021-05-31), 10-Q (报告日期： 2021-02-28), 10-Q (报告日期： 2020-11-30), 10-Q (报告日期： 2020-08-31), 10-K (报告日期： 2020-05-31), 10-Q (报告日期： 2020-02-29), 10-Q (报告日期： 2019-11-30), 10-Q (报告日期： 2019-08-31).
从披露的数据中可以观察到，公司的财务结构在整体上呈现出一定的变化趋势，尤其是在负债和权益的相对比例方面。总体来看，负债占比维持在较高水平，整体负债比重略有波动，但基本保持在70%以上，显示公司在财务杠杆方面具有一定的依赖性。
短期借款的比例在最初的两个季度有所增加，至2019年11月30日达到0.43%，之后未有明确数据披露，难以进行持续追踪。但长期债务中的流动部分比例在2021年达到最高点（约78%），随后逐步下降，显示公司逐步减少了短期债务压力，增加了非流动债务的比重，反映出其融资结构趋于稳健，更偏向长期融资安排。
应计工资和员工福利、应付账款、经营租赁的流动部分为公司流动性提供支持。这些项目的比例总体较为稳定，尤其是应付账款，维持在4.3%到4.9%的范围，显示应付账款管理保持相对稳定。经营租赁负债的比重逐步收敛，表明公司在租赁负债方面逐步调整其财务结构，减轻了短期偿债压力。
长期负债方面，减去流动部分的比例大体呈现出波动下降的趋势，从2021年的约25%逐步降低至2025年的大约22%，意味着公司在逐步减少长短期债务的杠杆比重，并可能在积极优化资本结构，提高财务稳健性。
在权益项目中，留存收益比重持续增长（由2019年底的36%提升至2025年约47%），这显示公司在利润再投资方面表现强劲，积累了较为丰厚的留存利润以支持未来发展。库存股比例呈逐步上升趋势，从-13.52%逐渐扩大到-19%，表明公司在回购股份方面持续进行，可能旨在提升每股收益或稳定股价。不过，股东权益（普通股股东投资）占比保持稳定在25%左右，说明权益资本在整体结构中的比重较为稳定。
综合来看，该公司财务结构在过去几年的发展中趋于稳健，逐步减少短期债务依赖，增加了权益资本积累，并且在资产负债结构中不断优化其长期债务比例。整体债务比重较高，反映其在融资策略中偏重于债务融资，但在偿债安排上趋于合理，逐步减少流动性压力，有助于增强财务稳定性。同时，权益部分的增长表明公司盈利能力的持续改善和内部积累的增强，为未来可能的资本运作提供了较好的财务基础。
