A Business at a Glance
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EXPEDITORS INTERNATIONAL OF WASHINGTON INC
EXPD
$23.9B
Mkt Cap
$175.30
-0.50%
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a current P/E ratio of 29.5, compared to its historical median P/E of 20.7. The stock is currently considered Expensive based on its historical valuation range.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a 5-year average return on invested capital (ROIC) of 81.9%. This indicates strong capital allocation and a potential competitive advantage.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a market capitalization of $23.1B. It is classified as a large-cap stock.
Yes, EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) pays a dividend with a trailing twelve-month yield of 0.88%. The company also returns capital through share buybacks, with a buyback yield of 3.36%.
Based on historical P/E analysis, EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) appears expensive. The current P/E of 29.5 is 42% above its historical median of 20.7. The estimated fair value CAGR (P/E method) is 8.1%.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) operates in the Arrangement Of Transportation Of Freight & Cargo industry, within the Industrials sector.
Expeditors International is a non-asset-based third-party logistics provider that purchases cargo space from carriers on a volume basis and resells that capacity to customers, operating approximately 20,000 employees across 172 district offices in five geographic regions (Americas, North Asia, South Asia, Europe, and Middle East/Africa/India). The company's primary service segments—Airfreight Services, Ocean Freight and Ocean Services, and Customs Brokerage and Other Services—are complemented by specialized offerings including order management, warehousing and distribution, temperature-controlled transit, cargo insurance, and Project Cargo handling for oversized or complex shipments. Expeditors' business model is built on consolidation economics, where the company leverages volume purchasing power to offer customers lower rates than they could negotiate individually, while generating ancillary revenues from customs documentation, order management, and value-added logistics services. The company serves a diversified customer base across industries including technology, semiconductors, healthcare, automotive, aviation, and retail, with district offices staffed primarily by local managers who execute global strategies and products through a single enterprise technology platform. Expeditors differentiates itself through organic growth, internally developed technology capabilities, deep local market expertise, and a culture centered on employee development and customer service, avoiding overnight courier, small parcel, and asset ownership (aircraft and ships).
【Technology and market expansion】 Management is pursuing strategic initiatives focused on baseline growth in air, ocean, and customs services across all district offices, expanding business services into and out of Europe in defined markets, and growing customs brokerage offerings throughout Asia by leveraging existing expertise and developing critical talent and tools. The company is investing in its technology strategy with intentional focus on artificial intelligence applications, particularly in customs brokerage and compliance areas where complexity is highest, while maintaining that customer-facing functions will remain human-driven given the criticality of expertise and customer knowledge to success. Expeditors expects to benefit from increased productivity through AI deployment while continuing to accelerate development and testing processes for solution delivery, though the organization remains in early days of AI implementation and expects deployment to be ongoing as skills develop.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 11.2B | 11.1B | 10.6B | 9.3B | 17.1B | 16.5B |
| Net Income | 836M | 810M | 810M | 753M | 1.4B | 1.4B |
| EPS | $6.26 | $5.95 | $5.72 | $5.01 | $8.26 | $8.27 |
| Free Cash Flow | 921M | 953M | 683M | 1.0B | 2.0B | 832M |
| ROIC | 83.2% | 71.8% | 75.8% | 69.4% | 95.2% | 97.2% |
| Gross Margin | - | 33.1% | 32.2% | 34.9% | 26.3% | 27.0% |
| Debt/Equity | 0.00 | 0.01 | 0.01 | 0.02 | 0.80 | 1.18 |
| Dividends/Share | $0.00 | $1.54 | $1.46 | $1.38 | $1.34 | $1.16 |
| Operating Income | 1.1B | 1.1B | 1.0B | 940M | 1.8B | 1.9B |
| Operating Margin | 9.7% | 9.5% | 9.8% | 10.1% | 10.7% | 11.6% |
| ROE | 36.6% | 35.4% | 35.1% | 27.4% | 41.1% | 46.0% |
| Shares Outstanding | 132M | 136M | 142M | 150M | 164M | 171M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 6.6B | 6.6B | 6.1B | 6.9B | 8.1B | 7.9B | 9.6B | 16.5B | 17.1B | 9.3B | 10.6B | 11.1B | 11.2B |
| Gross Margin | 10.4% | 12.2% | 12.4% | 33.5% | 32.2% | 33.2% | 30.5% | 27.0% | 26.3% | 34.9% | 32.2% | 33.1% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 38M | 42M | 42M | 44M | 45M | 44M | 18M | 16M | 24M | 28M | 33M | 40M | 42M |
| EBIT | 595M | 721M | 670M | 700M | 797M | 767M | 940M | 1.9B | 1.8B | 940M | 1.0B | 1.1B | 1.1B |
| Op. Margin | 9.1% | 10.9% | 11.0% | 10.1% | 9.8% | 9.7% | 9.8% | 11.6% | 10.7% | 10.1% | 9.8% | 9.5% | 9.7% |
| Net Income | 377M | 457M | 431M | 489M | 618M | 590M | 696M | 1.4B | 1.4B | 753M | 810M | 810M | 836M |
| Net Margin | 5.7% | 6.9% | 7.1% | 7.1% | 7.6% | 7.4% | 7.3% | 8.6% | 8.0% | 8.1% | 7.6% | 7.3% | 7.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 41.7% | 50.4% | 45.8% | 52.8% | 60.2% | 56.3% | 65.5% | 97.2% | 95.2% | 69.4% | 75.8% | 71.8% | 83.2% |
| ROE | 19.1% | 25.7% | 24.4% | 25.5% | 31.1% | 28.2% | 28.7% | 46.0% | 41.1% | 27.4% | 35.1% | 35.4% | 36.6% |
| ROA | 12.8% | 16.8% | 16.1% | 16.6% | 19.2% | 16.9% | 16.2% | 22.6% | 20.6% | 14.9% | 17.5% | 16.8% | 17.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 395M | 567M | 529M | 489M | 573M | 772M | 655M | 868M | 2.1B | 1.1B | 723M | 1.0B | 973M |
| Free Cash Flow | 357M | 522M | 470M | 394M | 525M | 725M | 607M | 832M | 2.0B | 1.0B | 683M | 953M | 921M |
| Owner Earnings | 303M | 477M | 437M | 388M | 463M | 659M | 536M | 748M | 2.0B | 927M | 598M | 881M | 847M |
| CapEx | 37M | 44M | 59M | 95M | 47M | 47M | 48M | 36M | 87M | 39M | 40M | 53M | 53M |
| Maint. CapEx | 49M | 46M | 47M | 49M | 54M | 51M | 57M | 51M | 57M | 68M | 61M | 57M | 56M |
| Growth CapEx | 0 | 0 | 13M | 46M | 0 | 0 | 0 | 0 | 29M | 0 | 0 | 0 | 0 |
| D&A | 49M | 46M | 47M | 49M | 54M | 51M | 57M | 51M | 57M | 68M | 61M | 57M | 56M |
| CapEx/OCF | 9.5% | 7.9% | 11.2% | 19.4% | 8.3% | 6.1% | 7.3% | 4.2% | 4.1% | 3.7% | 5.6% | 5.3% | 5.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 125M | 136M | 145M | 150M | 157M | 171M | 175M | 196M | 214M | 202M | 204M | 207M | 0 |
| Dividend Yield | 1.7% | 1.7% | 1.8% | 1.6% | 1.4% | 1.4% | 1.4% | 1.0% | 1.3% | 1.2% | 1.2% | 1.3% | N/A |
| Share Buybacks | 551M | 630M | 338M | 478M | 648M | 389M | 332M | 515M | 1.6B | 1.4B | 855M | 667M | 778M |
| Buyback Yield | 7.2% | 8.2% | 3.9% | 4.4% | 6.0% | 3.1% | 2.2% | 2.4% | 9.6% | 7.4% | 5.5% | 3.2% | 3.4% |
| Stock-Based Comp | 43M | 43M | 45M | 51M | 56M | 62M | 62M | 69M | 64M | 58M | 64M | 69M | 71M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -1.5B | -1.1B | -1.3B | -1.3B |
| Cash & Equiv. | 927M | 808M | 974M | 1.1B | 924M | 1.2B | 1.5B | 1.7B | 2.0B | 1.5B | 1.1B | 1.3B | 1.3B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 53M | 31M | 30M | 30M |
| Debt/Equity | 0.53 | 0.51 | 0.51 | 0.56 | 0.67 | 0.68 | 0.85 | 1.18 | 0.80 | 0.02 | 0.01 | 0.01 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | 4294.2 | 4645.6 | 78.4 | 195.8 | N/A | N/A | N/A |
| Equity | 1.9B | 1.7B | 1.8B | 2.0B | 2.0B | 2.2B | 2.7B | 3.5B | 3.1B | 2.4B | 2.2B | 2.4B | 2.3B |
| Total Assets | 2.9B | 2.6B | 2.8B | 3.1B | 3.3B | 3.7B | 4.9B | 7.6B | 5.6B | 4.5B | 4.8B | 4.9B | 4.8B |
| Total Liabilities | 999M | 871M | 944M | 1.1B | 1.3B | 1.5B | 2.3B | 4.1B | 2.5B | 2.1B | 2.5B | 2.5B | 68M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 1.9B | 1.8B | 1.9B | 2.1B | 2.1B | 2.3B | 2.6B | 3.6B | 3.3B | 2.6B | 2.5B | 2.5B | 2.5B |
| Working Capital | 1.3B | 1.1B | 1.3B | 1.4B | 1.4B | 1.6B | 2.1B | 2.9B | 2.5B | 1.7B | 1.6B | 1.7B | 1.6B |
| Current Assets | 2.3B | 2.0B | 2.2B | 2.5B | 2.7B | 2.8B | 4.0B | 6.6B | 4.5B | 3.4B | 3.7B | 3.8B | 3.7B |
| Current Liabilities | 984M | 861M | 930M | 1.1B | 1.3B | 1.2B | 1.9B | 3.7B | 2.1B | 1.7B | 2.1B | 2.1B | 2.0B |
| Per Share Data | |||||||||||||
| EPS | 1.92 | 2.40 | 2.36 | 2.69 | 3.48 | 3.39 | 4.07 | 8.27 | 8.26 | 5.01 | 5.72 | 5.95 | 6.26 |
| Owner EPS | 1.54 | 2.50 | 2.40 | 2.14 | 2.60 | 3.79 | 3.13 | 4.37 | 12.22 | 6.17 | 4.22 | 6.47 | 6.41 |
| Book Value | 9.52 | 8.88 | 10.11 | 10.95 | 11.18 | 12.60 | 15.55 | 20.42 | 18.92 | 15.91 | 15.70 | 17.30 | 17.30 |
| Cash Flow/Share | 2.01 | 2.97 | 2.90 | 2.69 | 3.22 | 4.43 | 3.83 | 5.07 | 12.96 | 7.01 | 5.11 | 7.39 | 6.76 |
| Dividends/Share | 0.64 | 0.72 | 0.80 | 0.84 | 0.90 | 1.00 | 1.04 | 1.16 | 1.34 | 1.38 | 1.46 | 1.54 | 0.00 |
| Shares Out. | 196.3M | 190.5M | 182.5M | 181.9M | 177.6M | 174.2M | 171.0M | 171.2M | 164.3M | 150.3M | 141.6M | 136.2M | 132.0M |
| Valuation | |||||||||||||
| P/E Ratio | 20.2 | 16.8 | 20.2 | 22.1 | 17.5 | 21.3 | 22.1 | 15.3 | 12.2 | 24.9 | 19.2 | 25.6 | 28.0 |
| P/FCF | 21.3 | 14.7 | 18.5 | 27.5 | 20.6 | 17.4 | 25.3 | 26.1 | 8.1 | 18.5 | 22.8 | 21.7 | 25.1 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 20.2 |
| Price/Book | 4.1 | 4.5 | 4.7 | 5.4 | 5.5 | 5.7 | 5.8 | 6.2 | 5.3 | 7.8 | 7.0 | 8.8 | 10.1 |
| Price/Sales | 1.1 | 1.2 | 1.3 | 1.3 | 1.4 | 1.5 | 1.3 | 1.1 | 1.0 | 1.8 | 1.6 | 1.5 | 2.1 |
| FCF Yield | 4.7% | 6.8% | 5.4% | 3.6% | 4.8% | 5.8% | 3.9% | 3.8% | 12.4% | 5.4% | 4.4% | 4.6% | 4.0% |
| Market Cap | 7.6B | 7.7B | 8.7B | 10.8B | 10.8B | 12.6B | 15.4B | 21.7B | 16.5B | 18.7B | 15.6B | 20.7B | 23.1B |
| Avg. Price | 36.49 | 41.22 | 43.68 | 51.36 | 63.49 | 68.28 | 75.02 | 109.78 | 99.90 | 111.04 | 118.78 | 119.34 | 175.30 |
| Year-End Price | 38.84 | 40.40 | 47.57 | 59.40 | 61.05 | 72.28 | 89.93 | 126.74 | 100.48 | 124.53 | 110.08 | 152.24 | 175.30 |
EXPEDITORS INTERNATIONAL OF WASHINGTON INC passes 6 of 9 quality checks, suggesting mixed fundamentals.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC trades at 29.5x trailing earnings, compared to its 15-year median P/E of 20.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 25.0x vs a median of 21.2x. The company's 5-year average ROIC is 81.9% with a gross margin of 30.7%. Total shareholder yield (dividends + buybacks) is 4.2%. At current prices, the estimated annualized return to fair value is +12.9%.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) reported annual revenue of $11.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a net profit margin of 7.3%. This is a modest margin.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) generated $953 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a debt-to-equity ratio of 0.01. This indicates a conservatively financed balance sheet.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) reported earnings per share (EPS) of $5.95 in its most recent fiscal year.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a return on equity (ROE) of 35.4%. This indicates the company generates strong returns for shareholders.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a 5-year average gross margin of 30.7%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) has a book value per share of $17.30, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is pursuing strategic initiatives focused on baseline growth in air, ocean, and customs services across all district offices, expanding business services into and out of Europe in defined markets, and growing customs brokerage offerings throughout Asia by leveraging existing expertise and developing critical talent and tools. The company is investing in its technology strategy with intentional focus on artificial intelligence applications, particularly in customs brokerage and compliance areas where complexity is highest, while maintaining that customer-facing functions will remain human-driven given the criticality of expertise and customer knowledge to success. Expeditors expects to benefit from increased productivity through AI deployment while continuing to accelerate development and testing processes for solution delivery, though the organization remains in early days of AI implementation and expects deployment to be ongoing as skills develop.