• FedEx average price to free cash flow ratio for 2023 was 19.17, a 3.51% increase from 2022.
• FedEx average price to free cash flow ratio for 2022 was 18.52, a 1.76% increase from 2021.
• FedEx average price to free cash flow ratio for 2021 was 18.2, a 11.59% increase from 2020.

Price to free cash flow ratio can be defined as