Fedex Corp (FDX) is fairly valued and Landstar System Inc (LSTR) is overvalued.
Against our estimates of intrinsic value, FDX trades at the wider discount: a margin of safety of +1%, against -170% for LSTR.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.4% (average of 3 methods) values the shares at $299.56; the price of $295.94 is 1% below that value, and 74% of that value comes from beyond year five.
Leak Score 50/100 on 10 of 12 signals
Discounting its cash flows at 9.5% (average of 3 methods) values the shares at $62.59; the price of $168.68 is 170% above that value, and 74% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | FDX | LSTR |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $295.94 | $168.68 |
| Intrinsic value | $299.56 | $62.59 |
| Margin of safety | +1% | -170% |
| Leak Score | 50/100 (10/12) | 59/100 (3/12) |
| Market cap | $70.0B | $5.7B |
| Revenue growth, 5 years | 2.5% | 2.8% |
| Operating margin | 7.0% | 3.9% |
| Net margin | 4.7% | 2.6% |
| Return on equity | 14.8% | 15.0% |
| Debt to equity | 1.36 | 0.17 |
| P/E | 16.0x | 43.7x |
| Forward P/E | — | 22.0x |
| P/B | 2.2x | 6.8x |
| Dividend yield | 1.6% | 1.5% |