• FedEx average debt/equity ratio for 2023 was 0.78, a 4.88% decline from 2022.
• FedEx average debt/equity ratio for 2022 was 0.82, a 7.87% decline from 2021.
• FedEx average debt/equity ratio for 2021 was 0.89, a 21.24% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.