FedEx has a great brand and durable moat.
EPS is consistently higher than free cash flow per share.
The company is capital intensive and has low cash generation.
However, given some tailwind from P/E expansion we can experience 10% yearly returns over the next decade, but it all depends on the global economy.
With an estimated forward P/E of 10-11 FedEx (FDX) looks fairly cheap at these levels. The brand is well known and FedEx has a durable moat. The downside is lack of cash