Expeditors International of Washington, Inc.

EXPD · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$19,970	$15,505	$18,494	$16,537	$22,749	$16,112	$13,217	$11,535	$10,959	$8,972	$7,640	$8,750	$9,115	$8,322	$8,688	$11,591	$7,375	$7,078	$9,531	$8,645	$7,207	$5,945	$3,944	$3,391	$2,966	$2,783	$2,196	$1,034	$945	$591	$313	$260	$178	$183	$181	$106	$151	$90	$80	$69	$38
Enterprise value	$19,229	$14,929	$17,509	$15,025	$21,492	$15,026	$12,380	$10,612	$9,910	$8,000	$6,835	$7,786	$7,843	$7,066	$7,400	$10,513	$6,457	$6,354	$8,973	$8,149	$6,757	$5,545	$3,652	$3,180	$2,749	$2,617	$2,143	$996	$904	$557	$277	$242	$161	$163	$159	$84	$138	$77	$75	$64	$33
P/E (TTM) at period end	24.64×	19.14×	24.56×	12.18×	16.07×	23.14×	22.39×	18.66×	22.39×	20.83×	16.71×	23.22×	26.15×	24.96×	22.53×	33.68×	30.70×	23.52×	35.41×	36.77×	37.85×	45.75×	39.85×	30.14×	30.51×	33.52×	37.11×	21.87×	24.60×	24.35×	18.00×	19.67×	17.41×	16.18×	17.73×	10.97×	16.24×	12.52×	13.87×	16.93×	13.12×
P/S (TTM) at period end	1.80×	1.46×	1.99×	0.97×	1.38×	1.68×	1.66×	1.42×	1.58×	1.47×	1.15×	1.33×	1.50×	1.39×	1.41×	1.94×	1.80×	1.26×	1.82×	1.87×	1.85×	1.79×	1.50×	1.48×	1.58×	1.46×	1.52×	0.97×	0.99×	0.81×	0.54×	0.58×	0.49×	0.55×	0.71×	0.51×	0.78×	0.61×	0.55×	0.64×	0.58×
P/B at period end	8.48×	6.97×	7.74×	5.32×	6.51×	6.06×	6.02×	5.81×	5.50×	4.86×	4.52×	4.68×	4.37×	4.10×	4.34×	6.66×	4.75×	5.18×	7.77×	8.08×	7.89×	7.36×	6.11×	6.47×	7.15×	7.69×	7.78×	4.76×	5.56×	4.22×	2.67×	2.57×	2.03×	2.31×	2.72×	1.94×	3.39×	2.60×	2.96×	3.54×	3.43×
EV / EBITDA (TTM)	17.33×	13.54×	17.38×	7.98×	10.96×	15.07×	15.14×	12.48×	13.22×	11.16×	8.91×	12.09×	13.07×	12.38×	11.30×	18.00×	15.19×	12.38×	19.39×	19.78×	22.27×	20.71×	17.29×	16.42×	16.22×	17.45×	18.78×	11.21×	12.72×	12.22×	8.27×	–	12.99×	14.02×	15.25×	8.98×	15.66×	–	–	–	–
EV / Sales (TTM)	1.74×	1.41×	1.88×	0.88×	1.30×	1.57×	1.56×	1.30×	1.43×	1.31×	1.03×	1.19×	1.29×	1.18×	1.20×	1.76×	1.58×	1.13×	1.71×	1.76×	1.73×	1.67×	1.39×	1.38×	1.46×	1.37×	1.48×	0.94×	0.95×	0.76×	0.47×	0.54×	0.45×	0.49×	0.62×	0.41×	0.71×	0.52×	0.51×	0.59×	0.50×
Returns
Return on equity	34.4%	36.4%	31.5%	43.6%	40.5%	26.2%	26.9%	31.1%	24.6%	23.4%	27.0%	20.2%	16.7%	16.4%	19.2%	19.8%	15.5%	22.0%	21.9%	22.0%	20.8%	16.1%	15.3%	21.5%	23.5%	23.0%	21.0%	21.8%	22.6%	17.3%	14.8%	13.1%	11.6%	14.3%	15.4%	17.6%	20.9%	20.7%	21.3%	20.9%	26.1%
Return on invested capital	48.4%	46.9%	49.5%	84.6%	62.9%	43.6%	42.0%	56.7%	50.7%	48.4%	50.7%	39.1%	40.2%	41.6%	52.3%	50.3%	36.2%	44.6%	38.0%	38.8%	40.2%	35.7%	30.8%	34.5%	46.6%	40.2%	25.3%	25.5%	28.3%	21.5%	20.2%	(189.0%)	13.7%	17.8%	20.4%	24.4%	25.9%	29.1%	24.8%	27.3%	38.2%
Dividend yield	1.0%	1.3%	1.1%	1.3%	0.9%	1.1%	1.3%	1.4%	1.4%	1.6%	1.8%	1.4%	1.4%	1.4%	1.2%	0.7%	1.1%	1.0%	0.6%	0.5%	0.4%	0.4%	0.4%	0.4%	0.4%	0.3%	0.2%	0.3%	0.3%	0.3%	0.4%	0.5%	0.7%	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.81×	1.77×	2.02×	2.20×	1.78×	2.09×	2.37×	2.06×	2.32×	2.39×	2.29×	2.33×	2.78×	2.80×	2.87×	2.48×	2.52×	2.35×	1.99×	1.89×	1.96×	1.99×	1.96×	1.70×	1.87×	1.74×	1.76×	1.50×	1.51×	1.63×	1.94×	2.31×	2.07×	2.42×	2.20×	2.04×	2.84×	2.68×	2.34×	1.97×	1.99×
Debt / equity	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00×	0.00×	0.00×	0.00×	0.01×	0.07×	0.06×	0.01×	0.02×	0.00×	0.00×	0.12×	0.10×	0.02×	0.03×	0.04×	0.06×	0.10×	0.15×	0.18×
Effective tax rate	25.8%	25.9%	25.9%	25.9%	26.3%	27.0%	25.6%	24.3%	31.8%	37.0%	37.6%	37.9%	38.9%	39.5%	39.5%	39.0%	40.3%	39.4%	40.0%	40.6%	31.2%	39.5%	41.8%	36.8%	37.0%	37.7%	37.5%	37.4%	38.7%	38.7%	38.7%	41.1%	40.4%	28.5%	28.7%	28.1%	24.4%	20.9%	18.3%	16.3%	14.7%
Share count
Diluted shares outstanding	136	142	150	164	171	171	174	178	182	183	190	197	207	212	215	216	217	219	222	222	220	220	216	213	219	220	215	212	196	205	192	191	189	189	187	185	184	183	178	171	145

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$12,036	$11,069	$10,601	$9,300	$17,071	$16,524	$9,584	$7,942	$8,138	$6,921	$6,098	$6,617	$6,565	$6,080	$5,992	$6,162	$5,968	$4,092	$5,634	$5,235	$4,634	$3,902	$3,318	$2,625	$2,297	$1,883	$1,907	$1,445	$1,064	$954	$730	$585	$451	$362	$333	$254	$207	$194	$148	$147	$109	$66
Cost of revenue	($9,160)	($9,375)	($9,251)	($8,055)	($14,900)	($14,358)	($8,422)	($6,945)	($7,118)	($6,038)	($5,247)	($5,721)	($5,801)	($5,377)	($5,290)	($5,379)	($5,283)	($2,709)	($4,031)	($3,715)	($3,281)	($2,788)	($2,589)	($2,039)	($1,764)	($1,404)	($1,254)	($1,091)	($785)	($727)	($573)	($466)	($360)	($268)	($254)	($193)	($155)	($149)	($112)	($118)	($87)	($54)
Gross profit	$2,876	$1,694	$1,349	$1,245	$2,171	$2,165	$1,163	$997	$1,020	$883	$851	$896	$764	$704	$702	$783	$685	$1,383	$1,603	$1,521	$1,353	$1,114	$729	$586	$532	$479	$653	$354	$279	$227	$157	$119	$90	$94	$79	$61	$52	$44	$35	$29	$21	$12
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($2,372)	($2,220)	($2,037)	($1,961)	($2,290)	($2,265)	($1,557)	($1,466)	($1,439)	($1,311)	($1,199)	($1,186)	($1,103)	($1,066)	($1,029)	($1,032)	($926)	($875)	($979)	($831)	($737)	($627)	($80)	($71)	($61)	($382)	($40)	($275)	($221)	($24)	($128)	($14)	($11)	($73)	($61)	($46)	($38)	($32)	($26)	($21)	($16)	($9)
Total operating expenses	($1,692)	($642)	($308)	($306)	($347)	($256)	($222)	($230)	($224)	($183)	($181)	($174)	($169)	($152)	($171)	($164)	($137)	($998)	($1,130)	($1,097)	($977)	($843)	($488)	($399)	($361)	($333)	($525)	($261)	($205)	($167)	($119)	($92)	($365)	($77)	($64)	($49)	($40)	($34)	($27)	($22)	($17)	($10)
Total costs and expenses	($10,853)	($10,016)	($9,559)	($8,360)	($15,247)	($14,614)	($8,644)	($7,176)	($7,342)	($6,221)	($5,428)	($5,895)	($5,970)	($5,528)	($5,461)	($5,543)	($5,420)	($3,707)	($5,161)	($4,812)	($4,259)	($3,631)	($3,077)	($2,438)	($2,126)	($1,737)	($1,779)	($1,351)	($990)	($894)	($693)	($558)	($726)	($345)	($319)	($241)	($196)	($183)	($139)	($140)	($104)	($63)
Operating income	$1,183	$1,053	$1,041	$940	$1,824	$1,909	$940	$767	$797	$700	$670	$721	$595	$552	$531	$618	$547	$385	$473	$423	$375	$271	$241	$187	$171	$146	$128	$93	$73	$60	$37	$27	($275)	$16	$15	$13	$11	$11	$8	$7	$5	$3
Earnings
EBITDA	$1,238	$1,109	$1,102	$1,008	$1,882	$1,961	$997	$818	$851	$750	$717	$767	$644	$600	$571	$655	$584	$425	$513	$463	$412	$303	$268	$211	$194	$170	$150	$114	$89	$71	$46	$33	($280)	$12	$12	$10	$9	$9	–	–	–	–
Interest income	$33	$36	$47	$70	$26	$9	$10	$23	$19	$13	$12	$10	$11	$12	$13	$10	$7	$10	$21	$22	$18	$11	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	–	–	–	($5)	($23)	($0)	($0)	–	–	–	–	–	–	–	($1)	($1)	($1)	($0)	($0)	($0)	($0)	($0)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,225	$1,094	$1,095	$1,015	$1,836	$1,925	$957	$796	$818	$719	$687	$737	$611	$573	$550	$638	$564	$403	$500	$450	$396	$287	$215	$170	$178	$154	$133	$95	$76	$63	$40	$28	$22	$17	$16	$14	$14	$12	$9	$7	$5	$3
Income tax expense	($304)	($282)	($283)	($263)	($475)	($506)	($258)	($204)	($199)	($228)	($254)	($277)	($231)	($223)	($217)	($252)	($220)	($162)	($197)	($180)	($161)	($89)	($85)	($71)	($65)	($57)	($50)	($35)	($28)	($24)	($15)	($11)	($9)	($7)	($4)	($4)	($4)	($3)	($2)	($1)	($1)	($0)
Net income	$919	$810	$810	$753	$1,357	$1,415	$696	$590	$618	$489	$431	$457	$377	$349	$333	$386	$344	$240	$301	$269	$235	$190	$130	$99	$113	$97	$83	$59	$47	$38	$24	$17	$13	$10	$11	$10	$10	$9	$7	$6	$4	$3
Per share
Diluted EPS (GAAP)	$6.87	$5.95	$5.72	$5.01	$8.26	$8.27	$4.07	$3.39	$3.48	$2.69	$2.36	$2.40	$1.92	$1.68	$1.57	$1.79	$1.59	$1.11	$1.37	$1.21	$1.06	$0.86	$0.59	$0.46	$0.44	$0.45	$0.0942	$0.28	$0.22	$0.0228	$0.12	$0.0055	$0.0042	$0.0033	$0.0019	$0.0017	$0.0016	$0.0016	$0.0013	$0.001	$0.0008	$0.0004
Basic EPS (GAAP)	$6.90	$5.97	$5.75	$5.05	$8.33	$8.37	$4.14	$3.45	$3.55	$2.73	$2.38	$2.42	$1.92	$1.69	$1.58	$1.82	$1.62	$1.13	$1.41	$1.26	$1.10	$0.89	$0.61	$0.47	$0.45	$0.47	$0.10	$0.30	$0.24	$0.0247	$0.12	$0.0058	$0.0044	$0.0034	$0.0019	$0.0017	$0.0016	$0.0016	$0.0013	$0.001	$0.0008	$0.0004
Basic shares outstanding	133	136	141	149	163	169	168	171	174	179	181	189	196	206	210	212	212	212	213	213	213	214	213	209	208	208	207	201	197	196	205	192	191	189	189	187	185	184	183	178	171	145
Margins
Gross margin	23.9%	15.3%	12.7%	13.4%	12.7%	13.1%	12.1%	12.6%	12.5%	12.8%	14.0%	13.5%	11.6%	11.6%	11.7%	12.7%	11.5%	33.8%	28.5%	29.0%	29.2%	28.6%	22.0%	22.3%	23.2%	25.4%	34.2%	24.5%	26.2%	23.8%	21.5%	20.3%	20.0%	25.9%	23.6%	24.1%	24.9%	22.9%	23.9%	19.7%	19.7%	18.8%
Operating margin	9.8%	9.5%	9.8%	10.1%	10.7%	11.6%	9.8%	9.7%	9.8%	10.1%	11.0%	10.9%	9.1%	9.1%	8.9%	10.0%	9.2%	9.4%	8.4%	8.1%	8.1%	6.9%	7.3%	7.1%	7.4%	7.8%	6.7%	6.5%	6.9%	6.3%	5.1%	4.6%	(61.0%)	4.5%	4.4%	5.0%	5.4%	5.5%	5.5%	4.5%	4.2%	3.9%
Net margin	7.6%	7.3%	7.6%	8.1%	8.0%	8.6%	7.3%	7.4%	7.6%	7.1%	7.1%	6.9%	5.7%	5.7%	5.6%	6.3%	5.8%	5.9%	5.3%	5.1%	5.1%	4.9%	3.9%	3.8%	4.9%	5.2%	4.4%	4.1%	4.4%	4.0%	3.3%	3.0%	2.9%	2.8%	3.4%	4.0%	4.7%	4.8%	4.9%	4.0%	3.8%	4.4%

Analyst consensus

Hold33 analysts

Bearish · 7 · Hold · 21 · Bullish · 5

Earnings history

	EPS	Estimate
Q3 2024	$1.63	$1.35	Beat
Q4 2024	$1.68	$1.38	Beat
Q1 2025	$1.47	$1.37	Beat
Q2 2025	$1.34	$1.25	Beat
Q3 2025	$1.64	$1.39	Beat
Q4 2025	$1.49	$1.47	Beat
Q1 2026	$1.71	$1.33	Beat
Q2 2026	$2.03	$1.69	Beat

Peers

Company overview

IPO dateSep 26, 1984

CEODaniel R. Wall

Employees19,800

SectorIndustrials

IndustryIntegrated Freight & Logistics

CountryUS

ExchangeNew York Stock Exchange

Websitewww.expeditors.com

Expeditors International of Washington, Inc. functions as a prominent global logistics and supply chain management enterprise. With a vast operational footprint spanning the Americas, North and South Asia, Europe, the Middle East, Africa, and India, the company delivers an extensive portfolio of services to its clients. Their core transportation offerings include comprehensive air freight solutions, encompassing both consolidation and forwarding, alongside diverse ocean freight services ranging from consolidated cargo to direct vessel bookings, complemented by efficient order management. Beyond mere transport, Expeditors provides crucial ancillary services such as customs brokerage and clearance, intra-continental ground delivery, and warehousing and distribution. The company's advanced supply chain capabilities feature meticulous purchase order oversight, vendor consolidation, guaranteed time-critical transportation, temperature-controlled shipping environments, cargo insurance, and sophisticated cargo monitoring and tracking systems. Moreover, they offer strategic advisory services for supply chain optimization, trade compliance, general business consulting, and enhanced cargo security protocols. Expeditors frequently acts as a freight consolidator or an authorized agent for airlines facilitating shipments. Their support infrastructure further includes the detailed preparation of all required shipping and customs documentation, expert packing and crating services, arrangement of insurance, negotiation of letters of credit, and ensuring full compliance with local export regulations. Serving a broad spectrum of industries, their client base primarily consists of retailing, wholesaling, electronics, technology, and various industrial and manufacturing companies. Expeditors International of Washington, Inc. was founded in 1979 and maintains its corporate headquarters in Seattle, Washington.

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