Expeditors International of Washington Inc. (EXPD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$1.46	$1.49	+2.1%	—	—	—
Q4 25	$1.24	$1.34	+8.1%	—	—	—
Q3 25	$1.37	$1.47	+7.3%	—	—	—
Q2 25	$1.43	$1.68	+17.5%	—	—	—
Q1 25	$1.33	$1.63	+22.6%	—	—	—
Q4 24	$1.27	$1.24	-2.4%	—	—	—
Q3 24	$1.09	$1.17	+7.3%	—	—	—
Q2 24	$1.21	$1.09	-9.9%	—	—	—
Q1 24	$1.28	$1.16	-9.4%	—	—	—
Q4 23	$1.36	$1.3	-4.4%	—	—	—
Q3 23	$1.33	$1.47	+10.5%	—	—	—
Q2 23	$1.96	$1.38	-29.6%	—	—	—
Q1 23	$1.94	$2.54	+30.9%	—	—	—
Q4 22	$2.13	$2.27	+6.6%	—	—	—
Q3 22	$1.71	$2.07	+21.1%	—	—	—
Q2 22	$2.09	$2.66	+27.3%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.97	—	—	$11.1B	—
FY24	—	$5.75	—	—	$10.6B	—
FY23	—	$5.05	—	—	$9.3B	—
FY22	—	$8.33	—	—	$17.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$6.1B	$6.9B	$8.1B	$7.9B	$9.6B	$16.5B	$17.1B	$9.3B	$10.6B	$11.1B
YoY change	-7.84%	+13.5%	+17.6%	-2.41%	+20.7%	+72.4%	+3.32%	-45.5%	+14%	+4.42%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	6.1B	6.9B	8.1B	7.9B	9.6B	16.5B	17.1B	9.3B	10.6B	11.1B
Cost of revenue	5.2B	6B	7.1B	6.9B	8.4B	14.4B	14.9B	8.1B	9.3B	9.6B
Gross profit	850.8M	883M	1B	997M	1.2B	2.2B	2.2B	1.2B	1.3B	1.4B
Gross margin	14%	12.8%	12.5%	12.6%	12.1%	13.1%	12.7%	13.4%	12.7%	12.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	41.8M	44.3M	45.3M	44M	18.4M	16M	24.3M	27.9M	33.3M	40.1M
Operating expenses	180.6M	182.8M	223.7M	230.3M	222.3M	256.1M	346.8M	305.5M	307.7M	377.8M
Operating income	670.2M	700.3M	796.6M	766.7M	940.4M	1.9B	1.8B	939.9M	1B	1.1B
Operating margin	11%	10.1%	9.79%	9.65%	9.81%	11.6%	10.7%	10.1%	9.82%	9.51%
Non-operating income, net	5.1M	5.1M	2.6M	6.3M	5.9M	6.9M	9.2M	9.4M	6.8M	5.8M
Pretax income	686.9M	718.6M	818.3M	795.8M	956.6M	1.9B	1.8B	1B	1.1B	1.1B
Income tax	254.3M	228.2M	198.5M	203.8M	258.4M	505.8M	475.3M	263.2M	283.2M	282M
Net income	432.5M	490.4M	619.8M	592M	698.2M	1.4B	1.4B	751.8M	811.6M	812M
Net margin	7.09%	7.09%	7.62%	7.45%	7.28%	8.59%	7.97%	8.08%	7.66%	7.34%
EBITDA	717M	749.6M	850.6M	817.6M	1B	2B	1.9B	1.1B	1.1B	1.1B
EPS	2.38	2.73	3.55	3.45	4.14	8.37	8.33	5.05	5.75	5.97
Diluted EPS	2.36	2.69	3.48	3.39	4.07	8.27	8.26	5.01	5.72	5.95

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.2B	2.3B	2.2B	2.4B	3B	3B	2.7B	2.7B	2.9B	2.9B	2.8B	3.5B
Cost of revenue	1.9B	2B	1.9B	2.1B	2.6B	2.6B	2.3B	2.3B	2.5B	2.5B	2.4B	3.1B
Gross profit	301.4M	275M	283.8M	298.6M	379.1M	387.6M	352.9M	347.6M	382.1M	347.8M	389.9M	430.7M
Gross margin	13.8%	12.1%	12.9%	12.2%	12.6%	13.1%	13.2%	13.1%	13.2%	12.2%	14%	12.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.1M	9.1M	6.8M	8M	7.6M	11M	8.6M	9.9M	9.7M	11.9M	10.4M	9.9M
Operating expenses	85.3M	75.6M	69M	74.7M	77.5M	86.5M	87M	99.9M	94.1M	96.9M	95.1M	81.1M
Operating income	216.1M	199.4M	214.8M	223.9M	301.5M	301.1M	265.9M	247.7M	288M	250.9M	294.8M	349.6M
Operating margin	9.87%	8.75%	9.73%	9.18%	10.1%	10.2%	9.97%	9.34%	9.95%	8.79%	10.6%	9.98%
Non-operating income, net	-1.3M	409K	3.5M	98K	973K	2.2M	839K	1.1M	1.6M	2.3M	3M	2M
Pretax income	231.9M	216.4M	233.2M	235.9M	312.4M	313.3M	275.9M	258M	298.2M	262M	306.5M	358.5M
Income tax	61M	57.2M	62.8M	60.8M	82.5M	77.1M	71.8M	74M	75.1M	61.1M	76.4M	91.2M
Net income	170.8M	159.1M	170.4M	175.2M	229.9M	236.2M	204.1M	183.9M	223.1M	201M	230M	267.3M
Net margin	7.8%	6.99%	7.72%	7.18%	7.66%	7.99%	7.65%	6.94%	7.71%	7.04%	8.27%	7.63%
EBITDA	231.7M	237.9M	229.9M	238.9M	317.3M	316.3M	280.5M	261.6M	302.3M	265M	308.7M	362.3M
EPS	1.16	1.09	1.18	1.24	1.63	1.69	1.48	1.35	1.65	1.5	1.72	2.03
Diluted EPS	1.16	1.09	1.17	1.24	1.63	1.68	1.47	1.34	1.64	1.49	1.71	2.03

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	9.6B	11.6B	11.9B	13.3B	16B	22.7B	16.9B	19B	15.6B	20.2B	24.5B
Enterprise value	8.6B	10.5B	10.9B	12.5B	14.9B	21.5B	15.4B	18B	15B	19.5B	23.9B
Shares outstanding	181.3M	179.2M	174.1M	170.9M	168.3M	169.1M	163M	149.1M	141M	135.8M	135.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.2	23.6	19.1	22.5	22.9	16	12.5	25.2	19.2	24.9	27.5
P/S	1.57	1.68	1.46	1.68	1.67	1.37	0.99	2.04	1.47	1.83	2.04
P/B	5.2	5.81	5.96	6.07	6.01	6.49	5.44	7.93	7.02	8.58	11.6
EV/EBITDA	12	14.1	12.9	15.3	14.7	10.9	8.05	16.5	13.6	17.6	18.9
EV/Sales	1.41	1.52	1.34	1.57	1.56	1.3	0.9	1.93	1.42	1.76	1.99
Earnings yield	4.51%	4.23%	5.23%	4.44%	4.36%	6.25%	8.03%	3.96%	5.2%	4.01%	3.64%
FCF yield	4.9%	3.39%	4.43%	5.43%	3.79%	3.66%	12.1%	5.34%	4.37%	4.71%	3.25%
PEG	—	—	—	—	—	—	—	—	—	—	0.55

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	14%	12.8%	12.5%	12.6%	12.1%	13.1%	12.7%	13.4%	12.7%	12.9%	12.3%
Operating margin	11%	10.1%	9.79%	9.65%	9.81%	11.6%	10.7%	10.1%	9.82%	9.51%	10.7%
Net margin	7.09%	7.09%	7.62%	7.45%	7.28%	8.59%	7.97%	8.08%	7.66%	7.34%	7.63%
ROE	23.4%	24.6%	31.2%	26.9%	26.2%	40.6%	43.7%	31.4%	36.5%	34.4%	42.7%
ROA	15.5%	15.7%	18.7%	16%	14.2%	18.6%	24.3%	16.6%	17.1%	16.6%	15.2%
ROIC	48.4%	50.7%	56.7%	42%	43.6%	62.9%	84.6%	49.5%	46.9%	48.4%	53.7%
Return on tangible assets	15.6%	15.8%	18.8%	16.1%	14.2%	18.7%	24.4%	16.7%	17.1%	16.6%	18%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.39	2.32	2.06	2.37	2.09	1.78	2.2	2.02	1.77	1.81	1.57
Quick ratio	2.39	2.32	2.06	2.37	2.09	1.78	2.2	2.02	1.77	1.81	1.57
Debt / equity	—	—	—	0.18	0.16	0.13	0.17	0.22	0.26	0.24	0.27
Debt / assets	—	—	—	0.11	0.09	0.06	0.09	0.12	0.12	0.12	0.11
Net debt / EBITDA	—	—	—	-1.03	-1.07	-0.64	-0.79	-0.91	-0.53	-0.67	-0.37
Interest coverage	—	—	—	—	4.4K	4.7K	79.9	212.5	—	—	—
Effective tax rate	37%	31.8%	24.3%	25.6%	27%	26.3%	25.9%	25.9%	25.9%	25.8%	24.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	33.6	38.6	46.7	46.5	56.9	97.7	104.7	62.4	75.2	81.5	90.2
EPS (basic)	2.38	2.73	3.55	3.45	4.14	8.37	8.33	5.05	5.75	5.97	5.97
EPS (diluted)	2.36	2.69	3.48	3.39	4.07	8.27	8.26	5.01	5.72	5.95	6.86
Book value per share	10.2	11.1	11.4	12.9	15.8	20.7	19.1	16	15.8	17.4	16.3
FCF per share	2.59	2.2	3.02	4.24	3.61	4.92	12.5	6.8	4.84	7.02	7.03
Cash per share	5.38	5.86	5.3	7.2	9.08	10.2	12.5	10.1	8.14	9.68	7.93
Capex per share	0.33	0.06	0.27	0.28	0.28	0.21	0.53	0.26	0.29	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.97%	0.15%	0.58%	0.59%	0.5%	0.22%	0.51%	0.42%	0.38%	—	—
Capex / operating cash flow	11%	2.3%	8.1%	5.95%	7.42%	4.51%	3.99%	3.49%	5.83%	—	—
Payout ratio	33.6%	30.7%	25.3%	28.8%	25.1%	13.8%	15.7%	26.9%	25.1%	25.5%	23%
Dividend yield	1.51%	1.3%	1.32%	1.28%	1.09%	0.86%	1.26%	1.06%	1.31%	1.03%	0.86%

Yield

0.86%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.81

ex-dividend Jun 1, 2026

Payout ratio

23%

of earnings

Dividend growth

10 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 1, 2026	$0.81
Dec 1, 2025	$0.77
Jun 2, 2025	$0.77

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.2B	$2.3B	$2.2B	$2.4B	$3B	$3B	$2.7B	$2.7B	$2.9B	$2.9B	$2.8B	$3.5B
YoY change	-49.8%	-33.8%	-14.9%	+8.9%	+37%	+29.7%	+20.8%	+8.73%	-3.51%	-3.34%	+4.37%	+32.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	974.4M	1.1B	923.7M	1.2B	1.5B	1.7B	2B	1.5B	1.1B	1.3B
Receivables	1.2B	1.4B	1.6B	1.3B	2B	3.8B	2.1B	1.5B	2B	2B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	2.2B	2.5B	2.7B	2.8B	4B	6.6B	4.5B	3.4B	3.7B	3.8B
Property, plant & equipment	69.5M	108.6M	30.4M	411M	446.4M	452.2M	503.9M	476.4M	483.9M	474.9M
Goodwill & intangibles	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M
Total assets	2.8B	3.1B	3.3B	3.7B	4.9B	7.6B	5.6B	4.5B	4.8B	4.9B
Accounts payable	726.6M	866.3M	902.3M	735.7M	1.1B	2B	1.1B	860.9M	1B	1.1B
Short-term debt	—	—	—	65.4M	74M	82M	95.6M	99.7M	106.7M	110.9M
Total current liabilities	929.9M	1.1B	1.3B	1.2B	1.9B	3.7B	2.1B	1.7B	2.1B	2.1B
Long-term debt	—	—	—	326.3M	364.2M	385.6M	422.8M	428M	462.2M	459.7M
Total liabilities	943.7M	1.1B	1.3B	1.5B	2.3B	4.1B	2.5B	2.1B	2.5B	2.5B
Shareholders' equity	1.8B	2B	2B	2.2B	2.7B	3.5B	3.1B	2.4B	2.2B	2.4B
Total debt	—	—	—	391.7M	438.2M	467.7M	518.5M	527.7M	568.9M	570.6M
Net debt	—	—	—	-838.8M	-1.1B	-1.3B	-1.5B	-985.1M	-579.4M	-743.7M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.6B	1.5B	1.4B	1.3B	1.3B	1.1B	1.3B	1.2B	1.2B	1.3B	1.3B	1B
Receivables	1.5B	1.5B	1.6B	1.8B	2.2B	2B	1.9B	2B	2B	2B	2.1B	2.6B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	3.5B	3.4B	3.4B	3.7B	4.1B	3.7B	3.6B	3.7B	3.7B	3.8B	3.7B	4B
Property, plant & equipment	987.9M	476.4M	1B	998.6M	994.4M	483.9M	1B	1B	1B	474.9M	1B	997.7M
Goodwill & intangibles	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M	15.9M
Total assets	4.6B	4.5B	4.5B	4.8B	5.2B	4.8B	4.8B	4.8B	4.8B	4.9B	4.8B	5.1B
Accounts payable	846.5M	860.9M	927.1M	1.1B	1.2B	1B	1B	1.1B	1.1B	1.1B	1.1B	1.5B
Short-term debt	99.9M	99.7M	100.7M	104M	106.8M	106.7M	109.5M	113.6M	111.2M	110.9M	113.8M	116.2M
Total current liabilities	1.7B	1.7B	1.8B	2.2B	2.4B	2.1B	2B	2.1B	2B	2.1B	2B	2.6B
Long-term debt	419.6M	428M	464.3M	449M	436M	462.2M	478.9M	472.9M	449.2M	459.7M	451.2M	451.1M
Total liabilities	2.1B	2.1B	2.3B	2.6B	2.8B	2.5B	2.5B	2.6B	2.5B	2.5B	2.5B	3B
Shareholders' equity	2.5B	2.4B	2.2B	2.2B	2.4B	2.2B	2.3B	2.2B	2.3B	2.4B	2.3B	2.1B
Total debt	519.5M	527.7M	564.9M	553M	542.8M	568.9M	588.4M	586.5M	560.4M	570.6M	565M	567.3M
Net debt	-1.1B	-985.1M	-805.5M	-718.8M	-750.3M	-579.4M	-730.2M	-569.6M	-629.8M	-743.7M	-751.5M	-464.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	432.5M	490.4M	619.8M	592M	698.2M	1.4B	1.4B	751.8M	811.6M	812M
Depreciation & amortization	46.8M	49.3M	54M	51M	57M	51.3M	57.3M	67.8M	61.1M	56.8M
Stock-based compensation	45.2M	50.9M	56.1M	61.5M	62.5M	69.4M	64.4M	58.4M	64.4M	69.2M
Change in working capital	2.4M	-80.9M	-132.7M	80.2M	-189.1M	-736.6M	723.4M	263.1M	-235.1M	36.3M
Operating cash flow	539.2M	461.7M	585.9M	790.2M	640.9M	803.1M	2.2B	1.1B	693.5M	1B
Capital expenditure	-59.1M	-10.6M	-47.5M	-47M	-47.5M	-36.2M	-86.8M	-39.3M	-40.5M	—
Investing cash flow	-53.2M	-11.7M	-48.4M	-46M	-46M	-36.6M	-87.7M	-39.4M	-40.5M	8.4M
Dividends paid	-145.1M	-150.5M	-156.8M	-170.6M	-174.9M	-195.8M	-213.8M	-202M	-204.1M	-207.4M
Share repurchases	-337.7M	-478.3M	-647.9M	-389.1M	-332.4M	-514.6M	-1.6B	-1.4B	-855.1M	-667.3M
Financing cash flow	-298.8M	-424.6M	-627.7M	-417.6M	-331.5M	-606M	-1.6B	-1.5B	-1.1B	-802.5M
Net change in cash	187.2M	25.4M	-90.2M	326.6M	263.4M	160.4M	453M	-455.4M	-407.4M	212.4M
Free cash flow	470.2M	393.6M	525.3M	724.7M	607.4M	832.2M	2B	1B	682.9M	953.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	170.8M	159.1M	170.4M	175.2M	229.9M	236.2M	204.1M	183.9M	223.1M	201M	230M	267.3M
Depreciation & amortization	15.6M	21.4M	15.2M	15M	15.8M	15.2M	14.6M	13.8M	14.2M	14.1M	13.9M	12.7M
Stock-based compensation	15.9M	11.4M	12.4M	25.7M	9.8M	16.5M	11.5M	27.3M	18M	12.4M	12.8M	32.2M
Change in working capital	-6M	-42.8M	31.6M	-55.8M	-184.3M	-26.5M	78.9M	845K	-76.6M	33.2M	16.8M	-121.3M
Operating cash flow	192.6M	136.3M	233.8M	155M	70.2M	234.5M	311.5M	179.2M	201.4M	283.3M	309.2M	178.6M
Capital expenditure	-8M	-10.7M	-10.2M	-7.9M	-12.3M	-10.1M	-13.2M	—	—	—	—	—
Investing cash flow	-8M	-10.6M	-10.1M	-7.9M	-12.5M	-10M	-13M	24K	924K	7.3M	130K	21.4M
Dividends paid	0	-99.8M	—	-102.6M	0	-101.4M	—	-104.1M	0	-103.3M	—	-105.8M
Share repurchases	-298.1M	-193.6M	-360.5M	-102.3M	-140M	-252.2M	-177.4M	-231.1M	-212.3M	-46.5M	-287.6M	-354.9M
Financing cash flow	-222.4M	-288.4M	-392.2M	-207.4M	-76.3M	-366.9M	-166M	-339.9M	-149.6M	-147M	-290.1M	-474.4M
Net change in cash	-37.8M	-162.7M	-168.4M	-60.3M	-18.6M	-142.4M	132.6M	-160.6M	52.7M	143.6M	19.3M	-274.4M
Free cash flow	182M	147.6M	246.7M	118.8M	77.7M	239.7M	329.5M	163.3M	190.3M	270.3M	296.6M	166.6M

Date	Ratio
Jun 26, 2006	2:1
Jun 25, 2002	2:1
Jun 1, 1999	2:1
Dec 12, 1996	2:1
Nov 12, 1993	2:1
Sep 26, 1986	3:2

Expeditors International of Washington Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history