Expeditors International of Washington (EXPD) Financials

$155.68 +1.26 (+0.81%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$155.80 +0.12 (+0.08%)

As of 08:05 AM Eastern

Annual Income Statements for Expeditors International of Washington

This table shows Expeditors International of Washington's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	457	431	489	618	590	696	1,415	1,357	753	810	810
Consolidated Net Income / (Loss)	459	433	490	620	592	698	1,419	1,361	752	812	812
Net Income / (Loss) Continuing Operations	459	433	490	620	592	698	1,419	1,361	752	812	812
Total Pre-Tax Income	737	687	719	818	796	957	1,925	1,836	1,015	1,095	1,094
Total Operating Income	721	670	700	797	767	940	1,909	1,824	940	1,041	1,053
Total Gross Profit	1,044	1,006	1,052	1,227	1,214	1,390	2,403	2,438	1,546	1,651	1,751
Total Revenue	6,617	6,098	6,921	8,138	7,942	9,584	16,524	17,071	9,300	10,601	11,069
Operating Revenue	6,617	6,098	6,921	8,138	7,942	9,584	16,524	17,071	9,300	10,601	11,069
Total Cost of Revenue	5,572	5,092	5,869	6,911	6,728	8,195	14,121	14,633	7,755	8,949	9,318
Operating Cost of Revenue	5,572	5,092	5,869	6,911	6,728	8,195	14,121	14,633	7,755	8,949	9,318
Total Operating Expenses	323	336	352	431	447	449	494	614	606	610	698
Selling, General & Admin Expense	132	139	138	178	186	204	240	322	278	274	338
Marketing Expense	42	42	44	45	44	18	16	24	28	33	40
Depreciation Expense	46	47	49	54	51	57	51	57	68	61	57
Other Operating Expenses / (Income)	102	109	120	153	166	170	186	210	232	241	264
Total Other Income / (Expense), net	15	17	18	22	29	16	15	12	75	53	42
Interest & Investment Income	10	12	13	19	23	10	8.81	26	70	47	36
Other Income / (Expense), net	4.78	5.11	5.13	2.61	6.30	5.93	6.89	-14	4.64	6.77	5.80
Income Tax Expense	277	254	228	199	204	258	506	475	263	283	282
Net Income / (Loss) Attributable to Noncontrolling Interest	2.27	1.73	1.04	1.59	1.62	2.07	3.35	3.21	-1.10	1.56	1.72
Basic Earnings per Share	$2.42	$2.38	$2.73	$3.55	$3.45	$4.14	$8.37	$8.33	$5.05	$5.75	$5.97
Weighted Average Basic Shares Outstanding	188.94M	181.28M	179.25M	174.13M	170.90M	168.33M	169.15M	163.01M	149.14M	140.99M	135.81M
Diluted Earnings per Share	$2.40	$2.36	$2.69	$3.48	$3.39	$4.07	$8.27	$8.26	$5.01	$5.72	$5.95
Weighted Average Diluted Shares Outstanding	190.22M	182.70M	181.67M	177.83M	174.21M	170.90M	171.25M	164.43M	150.19M	141.72M	136.25M
Weighted Average Basic & Diluted Shares Outstanding	188.90M	181M	179.20M	174.10M	169.76M	169.37M	167.40M	154.40M	143.90M	138.03M	133.50M
Cash Dividends to Common per Share	$0.72	$0.80	$0.84	$0.90	$1.00	$1.04	$1.16	$1.34	$1.38	$1.46	$1.54

This table shows Expeditors International of Washington's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	171	159	169	175	230	236	204	184	222	201	230
Consolidated Net Income / (Loss)	171	159	170	175	230	236	204	184	223	201	230
Net Income / (Loss) Continuing Operations	171	159	170	175	230	236	204	184	223	201	230
Total Pre-Tax Income	232	216	233	236	312	313	276	258	298	262	306
Total Operating Income	216	199	215	224	302	301	266	248	288	251	295
Total Gross Profit	375	355	360	373	456	462	432	427	465	427	472
Total Revenue	2,190	2,278	2,207	2,439	3,000	2,955	2,666	2,652	2,895	2,856	2,783
Operating Revenue	2,190	2,278	2,207	2,439	3,000	2,955	2,666	2,652	2,895	2,856	2,783
Total Cost of Revenue	1,815	1,923	1,846	2,066	2,544	2,493	2,235	2,225	2,430	2,429	2,311
Operating Cost of Revenue	1,815	1,923	1,846	2,066	2,544	2,493	2,235	2,225	2,430	2,429	2,311
Total Operating Expenses	159	155	145	149	154	161	166	179	177	176	177
Selling, General & Admin Expense	79	67	62	67	70	76	78	90	84	85	85
Marketing Expense	6.15	9.07	6.78	8.00	7.59	11	8.57	9.93	9.66	12	10
Depreciation Expense	16	21	15	15	16	15	15	14	14	14	14
Other Operating Expenses / (Income)	58	58	61	60	61	59	64	66	68	65	68
Total Other Income / (Expense), net	16	17	18	12	11	12	10	10	10	11	12
Interest & Investment Income	17	17	15	12	9.92	10	9.18	9.18	8.49	8.86	8.64
Other Income / (Expense), net	-1.33	0.25	3.53	0.10	0.97	2.17	0.84	1.05	1.64	2.27	3.02
Income Tax Expense	61	57	63	61	82	77	72	74	75	61	76
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.51	0.43	1.25	-0.32	0.35	0.28	0.30	0.35	0.82	0.25	0.43
Basic Earnings per Share	$1.16	$1.11	$1.18	$1.24	$1.63	$1.70	$1.48	$1.35	$1.65	$1.49	$1.72
Weighted Average Basic Shares Outstanding	147.10M	149.14M	143.19M	141.01M	140.42M	140.99M	137.83M	136.27M	134.96M	135.81M	133.54M
Diluted Earnings per Share	$1.16	$1.10	$1.17	$1.24	$1.63	$1.68	$1.47	$1.34	$1.64	$1.50	$1.71
Weighted Average Diluted Shares Outstanding	148.00M	150.19M	144.13M	141.72M	141.03M	141.72M	138.44M	136.63M	135.29M	136.25M	134.08M
Weighted Average Basic & Diluted Shares Outstanding	145.39M	143.90M	141.25M	141.13M	139.98M	138.03M	136.95M	135.72M	134.02M	133.50M	130.79M

This table details how cash moves in and out of Expeditors International of Washington's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-119	167	77	-127	307	297	201	305	-521	-365	166
Net Cash From Operating Activities	567	529	489	573	772	655	868	2,130	1,053	723	1,007
Net Cash From Continuing Operating Activities	567	529	489	573	772	655	868	2,130	1,053	723	1,007
Net Income / (Loss) Continuing Operations	459	433	490	620	592	698	1,419	1,361	752	812	812
Consolidated Net Income / (Loss)	459	433	490	620	592	698	1,419	1,361	752	812	812
Depreciation Expense	46	47	49	54	51	57	51	57	68	61	57
Non-Cash Adjustments To Reconcile Net Income	46	44	52	61	62	72	81	77	71	64	169
Changes in Operating Assets and Liabilities, net	15	5.87	-103	-162	66	-172	-682	635	163	-214	-31
Net Cash From Investing Activities	-7.43	-53	-12	-48	-46	-46	-37	-88	-39	-41	-45
Net Cash From Continuing Investing Activities	-7.43	-53	-12	-48	-46	-46	-37	-88	-39	-41	-45
Purchase of Property, Plant & Equipment	-44	-59	-95	-47	-47	-48	-36	-87	-39	-40	-53
Other Investing Activities, net	-3.60	5.93	-1.07	-0.93	1.01	1.52	-0.40	-0.89	-0.12	-0.06	8.40
Net Cash From Financing Activities	-637	-299	-425	-628	-418	-331	-614	-1,685	-1,537	-1,025	-802
Net Cash From Continuing Financing Activities	-637	-299	-425	-628	-418	-331	-614	-1,685	-1,537	-1,025	-802
Repayment of Debt	-	-	-	-	-	-0.21	-2.55	-30	-38	-35	-9.30
Repurchase of Common Equity	-630	-338	-478	-648	-389	-332	-515	-1,582	-1,393	-855	-667
Payment of Dividends	-138	-146	-151	-159	-171	-175	-197	-216	-203	-204	-209
Issuance of Debt	-	-	-	-	0.25	0.26	10	82	32	15	5.59
Issuance of Common Equity	131	185	205	183	148	186	106	81	85	69	88
Other Financing Activities, net	-	0.00	-	-3.25	-6.67	-11	-15	-19	-20	-15	-10
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-	6.64
Cash Income Taxes Paid	239	254	250	239	222	240	443	567	356	257	265

This table details how cash moves in and out of Expeditors International of Washington's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-59	-127	-142	-99	21	-145	170	-162	34	124	2.21
Net Cash From Operating Activities	190	158	257	127	90	250	343	179	201	283	309
Net Cash From Continuing Operating Activities	190	158	257	127	90	250	343	179	201	283	309
Net Income / (Loss) Continuing Operations	171	159	170	175	230	236	204	184	223	201	230
Consolidated Net Income / (Loss)	171	159	170	175	230	236	204	184	223	201	230
Depreciation Expense	16	21	15	15	16	15	15	14	14	14	14
Non-Cash Adjustments To Reconcile Net Income	20	15	15	29	9.34	11	15	33	123	-1.57	9.98
Changes in Operating Assets and Liabilities, net	-16	-37	57	-93	-165	-13	109	-51	-159	70	55
Net Cash From Investing Activities	-7.98	-11	-10	-7.88	-13	-10	-13	-16	-10	-5.68	-12
Net Cash From Continuing Investing Activities	-7.98	-11	-10	-7.88	-13	-10	-13	-16	-10	-5.68	-12
Purchase of Property, Plant & Equipment	-7.99	-11	-10	-7.94	-12	-10	-13	-16	-11	-13	-13
Other Investing Activities, net	0.01	0.09	0.10	0.07	-0.23	0.01	0.16	0.02	0.92	7.29	0.13
Net Cash From Financing Activities	-229	-289	-375	-207	-76	-367	-166	-340	-150	-147	-290
Net Cash From Continuing Financing Activities	-229	-289	-375	-207	-76	-367	-166	-340	-150	-147	-290
Repayment of Debt	-1.49	-4.51	-17	-2.82	-0.19	-15	-0.24	-0.10	-2.73	-6.24	-4.23
Repurchase of Common Equity	-298	-194	-361	-102	-140	-252	-177	-231	-212	-47	-288
Payment of Dividends	-	-101	0.00	-	-	-101	-1.35	-104	-0.49	-103	-0.65
Issuance of Debt	8.40	5.25	0.04	4.08	11	0.24	0.43	0.19	4.72	0.25	7.10
Issuance of Common Equity	62	4.58	8.03	6.45	53	1.52	13	5.13	61	8.82	3.13
Other Financing Activities, net	-	-0.01	-5.19	-10	-	-	-0.51	-9.84	-	-	-7.54
Effect of Exchange Rate Changes	-12	15	-14	-10	20	-18	6.55	14	-	-	-4.71
Cash Income Taxes Paid	62	50	37	97	63	61	41	125	54	46	36

This table presents Expeditors International of Washington's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,566	2,791	3,117	3,315	3,692	4,928	7,610	5,590	4,524	4,754	4,894
Total Current Assets	1,977	2,219	2,541	2,735	2,770	3,964	6,635	4,518	3,435	3,660	3,756
Cash & Equivalents	808	974	1,051	924	1,230	1,528	1,729	2,034	1,513	1,148	1,314
Accounts Receivable	1,112	1,190	1,415	1,582	1,315	1,998	3,810	2,108	1,533	1,998	2,022
Prepaid Expenses	56	54	76	70	93	110	109	119	171	164	136
Other Current Assets	-	-	0.00	160	132	327	987	258	219	349	283
Plant, Property, & Equipment, net	525	537	525	504	499	506	488	502	479	449	462
Total Noncurrent Assets	64	36	50	76	423	458	487	571	609	645	676
Goodwill	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93
Noncurrent Deferred & Refundable Income Taxes	-	0.00	13	40	8.03	0.00	0.73	37	64	71	102
Other Noncurrent Operating Assets	56	28	29	27	407	450	478	525	538	567	566
Total Liabilities & Shareholders' Equity	2,566	2,791	3,117	3,315	3,692	4,928	7,610	5,590	4,524	4,754	4,894
Total Liabilities	871	944	1,123	1,327	1,495	2,264	4,112	2,477	2,132	2,529	2,536
Total Current Liabilities	861	930	1,093	1,327	1,168	1,893	3,726	2,054	1,704	2,066	2,073
Accounts Payable	645	727	866	902	736	1,137	2,012	1,109	861	1,037	1,123
Accrued Expenses	187	186	206	216	189	257	404	479	447	452	448
Current Deferred Revenue	-	-	-	-	-	-	-	323	281	442	358
Current Deferred & Payable Income Tax Liabilities	29	18	20	18	24	45	86	47	16	29	32
Other Current Liabilities	-	-	0.00	190	220	454	1,224	96	100	107	111
Total Noncurrent Liabilities	9.53	14	30	0.00	326	371	386	423	428	462	463
Noncurrent Deferred & Payable Income Tax Liabilities	9.53	14	-	-	0.00	7.05	-	-	-	0.00	3.04
Other Noncurrent Operating Liabilities	-	-	-	0.00	326	364	386	423	428	462	460
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,695	1,847	1,994	1,988	2,197	2,663	3,498	3,114	2,391	2,226	2,358
Total Preferred & Common Equity	1,692	1,845	1,992	1,987	2,195	2,660	3,494	3,110	2,390	2,223	2,356
Total Common Equity	1,692	1,845	1,992	1,987	2,195	2,660	3,494	3,110	2,390	2,223	2,356
Common Stock	1.85	4.44	2.31	3.61	4.90	159	4.83	1.68	1.44	1.38	1.34
Retained Earnings	1,771	1,945	2,064	2,089	2,321	2,600	3,620	3,311	2,581	2,455	2,538
Accumulated Other Comprehensive Income / (Loss)	-81	-105	-74	-105	-131	-100	-130	-203	-192	-234	-184
Noncontrolling Interest	2.68	2.58	2.52	0.88	2.19	3.59	3.57	3.51	1.06	2.77	2.46

This table presents Expeditors International of Washington's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	4,564	4,578	4,524	4,488	4,788	5,171	4,754	4,757	4,786	4,780	4,782
Total Current Assets	3,483	3,512	3,435	3,374	3,697	4,083	3,660	3,641	3,652	3,675	3,652
Cash & Equivalents	1,699	1,639	1,513	1,370	1,272	1,293	1,148	1,319	1,156	1,190	1,316
Accounts Receivable	1,424	1,459	1,533	1,572	1,844	2,177	1,998	1,904	2,005	2,045	2,057
Prepaid Expenses	185	190	171	153	186	181	164	138	181	176	99
Other Current Assets	176	224	219	278	395	432	349	280	309	263	180
Plant, Property, & Equipment, net	495	481	479	470	461	469	449	454	470	465	457
Total Noncurrent Assets	587	585	609	645	630	619	645	662	665	640	672
Goodwill	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93	7.93
Noncurrent Deferred & Refundable Income Taxes	44	51	64	64	70	70	71	70	76	77	103
Other Noncurrent Operating Assets	535	527	538	572	553	542	567	584	581	555	562
Total Liabilities & Shareholders' Equity	4,564	4,578	4,524	4,488	4,788	5,171	4,754	4,757	4,786	4,780	4,782
Total Liabilities	2,006	2,087	2,132	2,291	2,610	2,812	2,529	2,469	2,589	2,497	2,495
Total Current Liabilities	1,579	1,667	1,704	1,826	2,161	2,376	2,066	1,990	2,116	2,048	2,041
Accounts Payable	816	846	861	927	1,073	1,240	1,037	1,047	1,118	1,146	1,144
Accrued Expenses	422	424	447	434	487	471	452	441	468	427	496
Current Deferred Revenue	219	284	281	345	475	532	442	360	385	335	257
Current Deferred & Payable Income Tax Liabilities	23	13	16	20	22	26	29	33	31	29	30
Other Current Liabilities	100	100	100	101	104	107	107	109	114	111	114
Total Noncurrent Liabilities	427	420	428	464	449	436	462	479	473	449	454
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	-	2.48
Other Noncurrent Operating Liabilities	427	420	428	464	449	436	462	479	473	449	451
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,558	2,491	2,391	2,198	2,178	2,359	2,226	2,288	2,197	2,283	2,287
Total Preferred & Common Equity	2,556	2,490	2,390	2,195	2,176	2,357	2,223	2,286	2,195	2,280	2,284
Total Common Equity	2,556	2,490	2,390	2,195	2,176	2,357	2,223	2,286	2,195	2,280	2,284
Common Stock	1.47	1.45	1.44	1.41	9.14	5.71	1.38	1.37	1.35	1.34	1.32
Retained Earnings	2,752	2,701	2,581	2,402	2,386	2,541	2,455	2,504	2,380	2,468	2,479
Accumulated Other Comprehensive Income / (Loss)	-198	-213	-192	-207	-218	-190	-234	-220	-186	-189	-196
Noncontrolling Interest	2.17	1.69	1.06	2.20	2.01	2.46	2.77	1.71	1.93	2.24	2.26

This table displays calculated financial ratios and metrics derived from Expeditors International of Washington's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.79%	-7.84%	13.49%	17.59%	-2.41%	20.67%	72.40%	3.32%	-45.52%	13.98%	4.42%
EBITDA Growth	18.92%	-6.50%	4.52%	13.05%	-3.43%	21.77%	96.10%	-5.08%	-45.80%	9.57%	0.53%
EBIT Growth	21.02%	-7.02%	4.46%	13.30%	-3.28%	22.43%	102.48%	-5.53%	-47.82%	10.96%	0.98%
NOPAT Growth	21.83%	-6.22%	13.23%	26.25%	-5.46%	20.35%	105.05%	-3.94%	-48.51%	10.89%	1.20%
Net Income Growth	21.09%	-5.87%	13.37%	26.39%	-4.48%	17.94%	103.21%	-4.10%	-44.75%	7.96%	0.05%
EPS Growth	25.00%	-1.67%	13.98%	29.37%	-2.59%	20.06%	103.19%	-0.12%	-39.35%	14.17%	4.02%
Operating Cash Flow Growth	43.45%	-6.54%	-7.71%	17.22%	34.72%	-15.13%	32.60%	145.21%	-50.55%	-31.32%	39.14%
Free Cash Flow Firm Growth	52.08%	-6.67%	-6.59%	18.46%	38.34%	-22.45%	49.44%	163.92%	-56.07%	-36.12%	42.20%
Invested Capital Growth	-1.91%	-1.59%	8.08%	12.80%	-9.14%	17.45%	55.83%	-38.99%	-18.61%	22.64%	-3.12%
Revenue Q/Q Growth	-2.54%	0.76%	3.89%	4.28%	-5.06%	13.11%	17.61%	-10.27%	-11.12%	6.82%	-0.88%
EBITDA Q/Q Growth	3.18%	-1.06%	3.96%	1.89%	-4.31%	11.52%	20.66%	-14.31%	-10.92%	9.11%	-4.39%
EBIT Q/Q Growth	3.41%	-1.19%	4.08%	2.00%	-4.50%	12.05%	21.44%	-14.78%	-12.14%	10.41%	-4.52%
NOPAT Q/Q Growth	2.76%	-0.69%	12.86%	2.18%	-6.75%	10.32%	22.05%	-14.59%	-9.79%	11.60%	-4.23%
Net Income Q/Q Growth	3.23%	-0.92%	12.98%	1.99%	-6.60%	9.71%	21.86%	-14.96%	-6.89%	10.48%	-4.16%
EPS Q/Q Growth	4.80%	-0.42%	13.03%	2.65%	-6.09%	9.70%	22.52%	-13.33%	-5.65%	11.28%	-2.94%
Operating Cash Flow Q/Q Growth	5.24%	-7.87%	12.38%	-4.08%	8.88%	-3.44%	23.16%	9.33%	-23.77%	14.46%	3.45%
Free Cash Flow Firm Q/Q Growth	3.76%	-8.95%	41.93%	-15.54%	14.12%	-10.20%	30.75%	42.12%	-46.17%	19.94%	3.24%
Invested Capital Q/Q Growth	2.50%	7.59%	-0.46%	10.06%	-2.68%	9.29%	10.55%	-38.20%	3.11%	1.08%	-4.45%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.78%	16.50%	15.20%	15.08%	15.29%	14.50%	14.54%	14.28%	16.62%	15.58%	15.82%
EBITDA Margin	11.67%	11.84%	10.90%	10.48%	10.37%	10.47%	11.91%	10.94%	10.89%	10.46%	10.07%
Operating Margin	10.90%	10.99%	10.12%	9.79%	9.65%	9.81%	11.56%	10.69%	10.11%	9.82%	9.51%
EBIT Margin	10.98%	11.07%	10.19%	9.82%	9.73%	9.87%	11.60%	10.60%	10.16%	9.89%	9.56%
Profit (Net Income) Margin	6.94%	7.09%	7.09%	7.62%	7.45%	7.28%	8.59%	7.97%	8.08%	7.66%	7.34%
Tax Burden Percent	62.37%	62.97%	68.24%	75.74%	74.39%	72.99%	73.72%	74.11%	74.06%	74.14%	74.22%
Interest Burden Percent	101.43%	101.71%	101.87%	102.40%	102.95%	101.08%	100.44%	101.41%	107.46%	104.46%	103.37%
Effective Tax Rate	37.63%	37.03%	31.76%	24.26%	25.61%	27.01%	26.28%	25.89%	25.94%	25.86%	25.78%
Return on Invested Capital (ROIC)	50.25%	47.97%	52.63%	60.11%	56.17%	65.31%	96.92%	94.93%	71.11%	78.94%	73.66%
ROIC Less NNEP Spread (ROIC-NNEP)	49.18%	46.79%	51.39%	58.44%	54.16%	64.45%	96.22%	94.47%	67.98%	75.96%	71.15%
Return on Net Nonoperating Assets (RNNOA)	-24.48%	-23.54%	-27.10%	-28.98%	-27.88%	-36.58%	-50.86%	-53.77%	-43.80%	-43.78%	-38.23%
Return on Equity (ROE)	25.77%	24.42%	25.53%	31.13%	28.29%	28.73%	46.06%	41.16%	27.31%	35.16%	35.43%
Cash Return on Invested Capital (CROIC)	52.18%	49.57%	44.86%	48.08%	65.75%	49.26%	53.27%	143.36%	91.63%	58.59%	76.83%
Operating Return on Assets (OROA)	26.62%	25.21%	23.88%	24.85%	22.07%	21.96%	30.57%	27.43%	18.68%	22.59%	21.94%
Return on Assets (ROA)	16.84%	16.15%	16.60%	19.27%	16.90%	16.20%	22.63%	20.61%	14.87%	17.50%	16.83%
Return on Common Equity (ROCE)	25.73%	24.39%	25.50%	31.10%	28.27%	28.70%	46.00%	41.11%	27.29%	35.13%	35.39%
Return on Equity Simple (ROE_SIMPLE)	27.16%	23.45%	24.62%	31.19%	26.97%	26.25%	40.60%	43.75%	31.45%	36.51%	0.00%
Net Operating Profit after Tax (NOPAT)	450	422	478	603	570	686	1,408	1,352	696	772	781
NOPAT Margin	6.80%	6.92%	6.90%	7.41%	7.18%	7.16%	8.52%	7.92%	7.49%	7.28%	7.06%
Net Nonoperating Expense Percent (NNEP)	1.07%	1.18%	1.24%	1.67%	2.01%	0.85%	0.69%	0.45%	3.14%	2.98%	2.50%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	43.43%	29.11%	34.68%	33.13%
Cost of Revenue to Revenue	84.22%	83.50%	84.80%	84.92%	84.71%	85.50%	85.46%	85.72%	83.38%	84.42%	84.18%
SG&A Expenses to Revenue	2.00%	2.28%	2.00%	2.19%	2.35%	2.13%	1.45%	1.89%	2.99%	2.59%	3.05%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	4.88%	5.51%	5.08%	5.29%	5.63%	4.69%	2.99%	3.59%	6.51%	5.75%	6.31%
Earnings before Interest and Taxes (EBIT)	726	675	705	799	773	946	1,916	1,810	945	1,048	1,058
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	772	722	755	853	824	1,003	1,968	1,868	1,012	1,109	1,115
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.46	4.72	5.34	5.54	5.75	5.82	6.32	5.19	7.64	6.97	8.48
Price to Tangible Book Value (P/TBV)	4.48	4.74	5.36	5.56	5.77	5.84	6.33	5.21	7.67	7.00	8.51
Price to Revenue (P/Rev)	1.14	1.43	1.54	1.35	1.59	1.62	1.34	0.95	1.96	1.46	1.80
Price to Earnings (P/E)	16.51	20.22	21.74	17.80	21.37	22.24	15.60	11.90	24.27	19.14	24.64
Dividend Yield	1.78%	1.66%	1.40%	1.41%	1.35%	1.14%	0.89%	1.32%	1.10%	1.32%	1.03%
Earnings Yield	6.06%	4.94%	4.60%	5.62%	4.68%	4.50%	6.41%	8.41%	4.12%	5.22%	4.06%
Enterprise Value to Invested Capital (EV/IC)	7.60	8.87	10.17	9.48	11.78	12.29	11.50	13.08	19.08	13.33	17.88
Enterprise Value to Revenue (EV/Rev)	1.02	1.27	1.39	1.24	1.43	1.46	1.23	0.83	1.80	1.35	1.69
Enterprise Value to EBITDA (EV/EBITDA)	8.73	10.72	12.71	11.82	13.82	13.91	10.35	7.56	16.56	12.95	16.73
Enterprise Value to EBIT (EV/EBIT)	9.28	11.46	13.59	12.62	14.73	14.75	10.62	7.80	17.74	13.70	17.63
Enterprise Value to NOPAT (EV/NOPAT)	14.98	18.34	20.07	16.71	19.96	20.33	14.46	10.44	24.07	18.60	23.88
Enterprise Value to Operating Cash Flow (EV/OCF)	11.90	14.62	19.62	17.60	14.76	21.31	23.44	6.63	15.91	19.85	18.54
Enterprise Value to Free Cash Flow (EV/FCFF)	14.43	17.75	23.54	20.89	17.06	26.96	26.31	6.91	18.68	25.06	22.90
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.50	-0.50	-0.53	-0.50	-0.51	-0.57	-0.53	-0.57	-0.64	-0.58	-0.54
Leverage Ratio	1.53	1.51	1.54	1.62	1.67	1.77	2.03	2.00	1.84	2.01	2.10
Compound Leverage Factor	1.55	1.54	1.57	1.65	1.72	1.79	2.04	2.02	1.97	2.10	2.18
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.16%	0.14%	0.13%	0.04%	0.10%	0.13%	0.10%	0.11%	0.04%	0.12%	0.10%
Common Equity to Total Capital	99.84%	99.86%	99.87%	99.96%	99.90%	99.87%	99.90%	99.89%	99.96%	99.88%	99.90%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	10.20	10.05	10.14	9.62	9.31	7.92	7.35	9.39	9.14	7.76	8.84
Noncontrolling Interest Sharing Ratio	0.17%	0.15%	0.13%	0.09%	0.07%	0.12%	0.12%	0.11%	0.08%	0.08%	0.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	2.39	2.33	2.06	2.37	2.09	1.78	2.20	2.02	1.77	1.81
Quick Ratio	2.23	2.33	2.26	1.89	2.18	1.86	1.49	2.02	1.79	1.52	1.61
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	467	436	407	483	668	518	774	2,042	897	573	815
Operating Cash Flow to CapEx	1,283.99%	896.11%	4,605.02%	1,206.56%	1,641.12%	1,377.64%	2,396.04%	2,452.86%	2,678.92%	1,787.58%	1,895.45%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	2,364.08	1,882.51	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	2,990.73	2,113.12	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	2,773.63	2,024.93	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.43	2.28	2.34	2.53	2.27	2.22	2.64	2.59	1.84	2.29	2.29
Accounts Receivable Turnover	5.64	5.30	5.31	5.43	5.48	5.79	5.69	5.77	5.11	6.01	5.51
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	12.45	11.49	13.04	15.81	15.83	19.06	33.24	34.49	18.96	22.83	24.29
Accounts Payable Turnover	7.87	7.42	7.37	7.82	8.22	8.75	8.97	9.38	7.87	9.43	8.63
Days Sales Outstanding (DSO)	64.77	68.91	68.69	67.19	66.56	63.09	64.15	63.27	71.43	60.78	66.28
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	46.36	49.17	49.53	46.70	44.43	41.70	40.70	38.93	46.36	38.70	42.31
Cash Conversion Cycle (CCC)	18.41	19.73	19.16	20.49	22.13	21.38	23.45	24.34	25.07	22.08	23.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	887	873	943	1,064	967	1,135	1,769	1,079	879	1,077	1,044
Invested Capital Turnover	7.39	6.93	7.62	8.11	7.82	9.12	11.38	11.99	9.50	10.84	10.44
Increase / (Decrease) in Invested Capital	-17	-14	70	121	-97	169	634	-690	-201	199	-34
Enterprise Value (EV)	6,743	7,741	9,589	10,083	11,387	13,958	20,355	14,117	16,760	14,360	18,659
Market Capitalization	7,548	8,713	10,638	11,005	12,616	15,482	22,080	16,147	18,272	15,505	19,970
Book Value per Share	$9.08	$10.23	$11.21	$11.51	$12.89	$15.71	$20.63	$19.54	$16.44	$15.88	$17.58
Tangible Book Value per Share	$9.03	$10.18	$11.16	$11.47	$12.84	$15.67	$20.58	$19.49	$16.39	$15.82	$17.52
Total Capital	1,695	1,847	1,994	1,988	2,197	2,663	3,498	3,114	2,391	2,226	2,358
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-808	-974	-1,051	-924	-1,230	-1,528	-1,729	-2,034	-1,513	-1,148	-1,314
Capital Expenditures (CapEx)	44	59	11	47	47	48	36	87	39	40	53
Debt-free, Cash-free Net Working Capital (DFCFNWC)	307	314	397	484	371	543	1,180	430	218	445	369
Debt-free Net Working Capital (DFNWC)	1,115	1,289	1,448	1,408	1,602	2,071	2,909	2,464	1,731	1,593	1,683
Net Working Capital (NWC)	1,115	1,289	1,448	1,408	1,602	2,071	2,909	2,464	1,731	1,593	1,683
Net Nonoperating Expense (NNE)	-9.48	-11	-13	-16	-22	-12	-11	-8.54	-56	-40	-31
Net Nonoperating Obligations (NNO)	-808	-974	-1,051	-924	-1,230	-1,528	-1,729	-2,034	-1,513	-1,148	-1,314
Total Depreciation and Amortization (D&A)	46	47	49	54	51	57	51	57	68	61	57
Debt-free, Cash-free Net Working Capital to Revenue	4.65%	5.15%	5.74%	5.95%	4.67%	5.66%	7.14%	2.52%	2.34%	4.20%	3.33%
Debt-free Net Working Capital to Revenue	16.85%	21.13%	20.93%	17.30%	20.17%	21.60%	17.60%	14.43%	18.61%	15.03%	15.20%
Net Working Capital to Revenue	16.85%	21.13%	20.93%	17.30%	20.17%	21.60%	17.60%	14.43%	18.61%	15.03%	15.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.42	$2.38	$2.73	$3.55	$3.45	$4.14	$8.37	$8.33	$5.05	$5.75	$5.97
Adjusted Weighted Average Basic Shares Outstanding	188.94M	181.28M	179.25M	174.13M	170.90M	168.33M	169.15M	163.01M	149.14M	140.99M	135.81M
Adjusted Diluted Earnings per Share	$2.40	$2.36	$2.69	$3.48	$3.39	$4.07	$8.27	$8.26	$5.01	$5.72	$5.95
Adjusted Weighted Average Diluted Shares Outstanding	190.22M	182.70M	181.67M	177.83M	174.21M	170.90M	171.25M	164.43M	150.19M	141.72M	136.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	182.10M	180.12M	176.54M	171.67M	169.76M	169.37M	167.40M	154.40M	143.90M	138.03M	133.50M
Normalized Net Operating Profit after Tax (NOPAT)	450	422	478	603	570	686	1,408	1,352	696	772	781
Normalized NOPAT Margin	6.80%	6.92%	6.90%	7.41%	7.18%	7.16%	8.52%	7.92%	7.49%	7.28%	7.06%
Pre Tax Income Margin	11.13%	11.26%	10.38%	10.06%	10.02%	9.98%	11.65%	10.75%	10.91%	10.33%	9.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	4,321.32	4,662.34	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	3,134.44	3,424.75	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	4,104.22	4,574.14	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	2,917.35	3,336.56	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.99%	33.86%	30.87%	25.71%	28.81%	25.05%	13.91%	15.86%	27.02%	25.15%	25.77%
Augmented Payout Ratio	167.09%	111.93%	128.40%	130.24%	94.53%	72.66%	50.18%	132.12%	212.30%	130.50%	107.95%

This table displays calculated financial ratios and metrics derived from Expeditors International of Washington's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	133,503,678.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	133,503,678.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.72
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-49.80%	-33.82%	-14.89%	8.90%	36.99%	29.72%	20.83%	8.73%	-3.51%	-3.34%	4.37%
EBITDA Growth	-57.55%	-31.32%	-21.41%	-9.44%	38.17%	44.07%	20.49%	9.89%	-4.51%	-16.08%	10.81%
EBIT Growth	-59.29%	-34.95%	-22.53%	-9.81%	40.87%	51.91%	22.17%	11.06%	-4.24%	-16.52%	11.68%
NOPAT Growth	-60.99%	-33.50%	-24.36%	-9.05%	39.40%	54.77%	25.32%	6.25%	-2.89%	-15.23%	12.51%
Net Income Growth	-58.75%	-25.89%	-24.60%	-10.54%	34.58%	48.39%	19.78%	5.01%	-2.98%	-14.91%	12.71%
EPS Growth	-54.33%	-21.43%	-19.31%	-4.62%	40.52%	52.73%	25.64%	8.06%	0.61%	-10.71%	16.33%
Operating Cash Flow Growth	-71.66%	-67.46%	-52.98%	-19.99%	-52.64%	57.70%	33.37%	41.37%	123.81%	13.45%	-9.74%
Free Cash Flow Firm Growth	302.61%	-61.83%	-88.43%	-90.81%	-99.24%	-91.93%	-57.54%	-64.70%	2,274.58%	706.21%	300.93%
Invested Capital Growth	-51.22%	-18.61%	3.46%	5.47%	25.11%	22.64%	17.14%	14.84%	2.48%	-3.12%	0.12%
Revenue Q/Q Growth	-2.22%	4.01%	-3.12%	10.53%	23.01%	-1.51%	-9.76%	-0.55%	9.16%	-1.34%	-2.56%
EBITDA Q/Q Growth	-12.72%	-4.04%	4.12%	2.37%	33.17%	0.06%	-11.67%	-6.64%	15.72%	-12.07%	16.64%
EBIT Q/Q Growth	-13.55%	-7.03%	7.62%	2.62%	35.03%	0.26%	-12.06%	-6.72%	16.44%	-12.60%	17.64%
NOPAT Q/Q Growth	-12.91%	-7.87%	7.02%	5.92%	33.49%	2.28%	-13.35%	-10.20%	22.01%	-10.71%	15.01%
Net Income Q/Q Growth	-12.74%	-6.85%	7.07%	2.79%	31.27%	2.71%	-13.57%	-9.89%	21.29%	-9.92%	14.48%
EPS Q/Q Growth	-10.77%	-5.17%	6.36%	5.98%	31.45%	3.07%	-12.50%	-8.84%	22.39%	-8.54%	14.00%
Operating Cash Flow Q/Q Growth	19.90%	-16.65%	62.24%	-50.66%	-29.03%	177.55%	37.20%	-47.69%	12.36%	40.69%	9.15%
Free Cash Flow Firm Q/Q Growth	-18.71%	-67.02%	-62.79%	-7.83%	-93.32%	252.26%	95.82%	-23.37%	349.24%	19.60%	-2.62%
Invested Capital Q/Q Growth	-0.87%	3.11%	-5.84%	9.59%	17.59%	1.08%	-10.07%	7.44%	4.93%	-4.45%	-7.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.14%	15.57%	16.32%	15.30%	15.19%	15.63%	16.19%	16.11%	16.05%	14.96%	16.97%
EBITDA Margin	10.52%	9.70%	10.58%	9.80%	10.61%	10.78%	10.55%	9.90%	10.50%	9.36%	11.20%
Operating Margin	9.87%	8.75%	9.73%	9.18%	10.05%	10.19%	9.97%	9.34%	9.95%	8.79%	10.59%
EBIT Margin	9.81%	8.77%	9.89%	9.18%	10.08%	10.26%	10.00%	9.38%	10.01%	8.87%	10.70%
Profit (Net Income) Margin	7.80%	6.99%	7.72%	7.18%	7.66%	7.99%	7.65%	6.94%	7.71%	7.04%	8.27%
Tax Burden Percent	73.67%	73.55%	73.08%	74.24%	73.60%	75.38%	73.98%	71.30%	74.82%	76.69%	75.06%
Interest Burden Percent	107.99%	108.38%	106.82%	105.31%	103.28%	103.30%	103.44%	103.69%	102.93%	103.50%	102.90%
Effective Tax Rate	26.33%	26.45%	26.92%	25.76%	26.40%	24.62%	26.02%	28.71%	25.19%	23.31%	24.94%
Return on Invested Capital (ROIC)	58.53%	61.17%	77.95%	70.34%	76.54%	83.26%	90.84%	77.10%	77.03%	70.31%	91.74%
ROIC Less NNEP Spread (ROIC-NNEP)	57.85%	60.46%	77.22%	69.74%	75.99%	82.57%	90.29%	76.50%	76.42%	69.62%	91.07%
Return on Net Nonoperating Assets (RNNOA)	-32.72%	-38.96%	-53.73%	-43.74%	-45.94%	-47.59%	-54.13%	-42.45%	-40.89%	-37.40%	-52.46%
Return on Equity (ROE)	25.82%	22.21%	24.21%	26.61%	30.60%	35.67%	36.71%	34.65%	36.15%	32.91%	39.27%
Cash Return on Invested Capital (CROIC)	128.24%	91.63%	75.97%	65.90%	49.82%	58.59%	74.61%	70.61%	73.13%	76.83%	83.00%
Operating Return on Assets (OROA)	18.35%	16.12%	17.96%	17.90%	20.53%	23.45%	23.93%	22.09%	22.46%	20.34%	25.10%
Return on Assets (ROA)	14.60%	12.85%	14.02%	14.00%	15.60%	18.26%	18.31%	16.33%	17.30%	16.15%	19.39%
Return on Common Equity (ROCE)	25.77%	22.19%	24.19%	26.58%	30.57%	35.64%	36.68%	34.62%	36.11%	32.87%	39.24%
Return on Equity Simple (ROE_SIMPLE)	32.43%	0.00%	31.71%	31.04%	31.17%	0.00%	36.98%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	159	147	157	166	222	227	197	177	215	192	221
NOPAT Margin	7.27%	6.44%	7.11%	6.82%	7.40%	7.68%	7.38%	6.66%	7.44%	6.74%	7.95%
Net Nonoperating Expense Percent (NNEP)	0.69%	0.70%	0.72%	0.60%	0.55%	0.69%	0.55%	0.60%	0.61%	0.69%	0.66%
Return On Investment Capital (ROIC_SIMPLE)	-	6.13%	-	-	-	10.20%	8.60%	8.04%	9.44%	8.16%	9.68%
Cost of Revenue to Revenue	82.86%	84.43%	83.68%	84.70%	84.81%	84.37%	83.81%	83.89%	83.95%	85.04%	83.03%
SG&A Expenses to Revenue	3.62%	2.92%	2.82%	2.73%	2.33%	2.56%	2.94%	3.39%	2.92%	2.97%	3.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.27%	6.81%	6.59%	6.12%	5.14%	5.44%	6.22%	6.77%	6.10%	6.18%	6.37%
Earnings before Interest and Taxes (EBIT)	215	200	218	224	302	303	267	249	290	253	298
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	230	221	233	239	318	318	281	263	304	267	312
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.73	7.64	8.00	8.10	7.87	6.97	7.26	7.13	7.30	8.48	8.37
Price to Tangible Book Value (P/TBV)	6.75	7.67	8.03	8.13	7.90	7.00	7.29	7.15	7.32	8.51	8.40
Price to Revenue (P/Rev)	1.60	1.96	1.97	1.93	1.87	1.46	1.50	1.39	1.49	1.80	1.71
Price to Earnings (P/E)	20.60	24.27	25.24	26.13	25.30	19.14	19.65	18.35	19.68	24.64	22.87
Dividend Yield	1.20%	1.10%	1.14%	1.14%	1.08%	1.32%	1.21%	1.31%	1.22%	1.03%	1.08%
Earnings Yield	4.86%	4.12%	3.96%	3.83%	3.95%	5.22%	5.09%	5.45%	5.08%	4.06%	4.37%
Enterprise Value to Invested Capital (EV/IC)	17.74	19.08	19.58	18.04	16.19	13.33	15.77	13.92	14.14	17.88	18.36
Enterprise Value to Revenue (EV/Rev)	1.44	1.80	1.82	1.79	1.74	1.35	1.38	1.29	1.38	1.69	1.59
Enterprise Value to EBITDA (EV/EBITDA)	13.30	16.56	16.99	17.61	16.97	12.95	13.21	12.27	13.25	16.73	15.55
Enterprise Value to EBIT (EV/EBIT)	14.06	17.74	18.29	18.99	18.18	13.70	13.94	12.92	13.94	17.63	16.34
Enterprise Value to NOPAT (EV/NOPAT)	19.59	24.07	25.09	26.01	24.94	18.60	18.82	17.63	18.94	23.88	22.10
Enterprise Value to Operating Cash Flow (EV/OCF)	10.94	15.91	21.21	22.35	27.30	19.85	18.89	16.82	15.88	18.54	18.30
Enterprise Value to Free Cash Flow (EV/FCFF)	9.07	18.68	26.22	28.11	36.11	25.06	22.81	21.08	19.57	22.90	22.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.57	-0.64	-0.70	-0.63	-0.60	-0.58	-0.60	-0.55	-0.54	-0.54	-0.58
Leverage Ratio	1.87	1.84	1.84	1.97	2.01	2.01	2.06	2.19	2.14	2.10	2.09
Compound Leverage Factor	2.02	1.99	1.96	2.08	2.08	2.08	2.13	2.27	2.21	2.18	2.15
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.07%	0.04%	0.10%	0.09%	0.10%	0.12%	0.07%	0.09%	0.10%	0.10%	0.10%
Common Equity to Total Capital	99.93%	99.96%	99.90%	99.91%	99.90%	99.88%	99.93%	99.91%	99.90%	99.90%	99.90%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	8.57	8.60	7.91	7.19	7.15	7.24	7.70	7.23	7.67	8.30	8.27
Noncontrolling Interest Sharing Ratio	0.18%	0.08%	0.10%	0.09%	0.09%	0.08%	0.09%	0.09%	0.10%	0.11%	0.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.11	2.02	1.85	1.71	1.72	1.77	1.83	1.73	1.79	1.81	1.79
Quick Ratio	1.86	1.79	1.61	1.44	1.46	1.52	1.62	1.49	1.58	1.61	1.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,054	348	129	119	7.96	28	55	42	189	226	220
Operating Cash Flow to CapEx	2,376.83%	1,478.00%	2,523.37%	1,595.98%	732.02%	2,484.49%	2,605.09%	1,128.89%	1,814.45%	2,183.25%	2,451.90%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.87	1.84	1.82	1.95	2.04	2.29	2.39	2.35	2.24	2.29	2.35
Accounts Receivable Turnover	4.97	5.11	5.61	5.58	5.46	6.01	6.36	5.86	5.29	5.51	5.65
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	21.76	18.96	18.37	19.07	20.90	22.83	23.95	24.21	23.92	24.29	24.56
Accounts Payable Turnover	7.33	7.87	7.91	8.10	8.03	9.43	9.46	8.67	7.86	8.63	8.57
Days Sales Outstanding (DSO)	73.38	71.43	65.04	65.43	66.87	60.78	57.36	62.31	69.00	66.28	64.63
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	49.78	46.36	46.12	45.06	45.44	38.70	38.59	42.12	46.42	42.31	42.57
Cash Conversion Cycle (CCC)	23.60	25.07	18.92	20.37	21.42	22.08	18.77	20.19	22.58	23.97	22.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	852	879	827	907	1,066	1,077	969	1,041	1,092	1,044	970
Invested Capital Turnover	8.05	9.50	10.96	10.32	10.35	10.84	12.32	11.58	10.35	10.44	11.54
Increase / (Decrease) in Invested Capital	-895	-201	28	47	214	199	142	135	26	-34	1.15
Enterprise Value (EV)	15,116	16,760	16,200	16,357	17,253	14,360	15,282	14,492	15,450	18,659	17,807
Market Capitalization	16,754	18,272	17,568	17,627	18,544	15,505	16,598	15,646	16,638	19,970	19,122
Book Value per Share	$16.83	$16.44	$15.33	$15.41	$16.70	$15.88	$16.56	$16.03	$16.80	$17.58	$17.11
Tangible Book Value per Share	$16.78	$16.39	$15.28	$15.35	$16.64	$15.82	$16.50	$15.97	$16.74	$17.52	$17.05
Total Capital	2,491	2,391	2,198	2,178	2,359	2,226	2,288	2,197	2,283	2,358	2,287
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,639	-1,513	-1,370	-1,272	-1,293	-1,148	-1,319	-1,156	-1,190	-1,314	-1,316
Capital Expenditures (CapEx)	7.99	11	10	7.94	12	10	13	16	11	13	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	205	218	177	264	414	445	332	379	437	369	294
Debt-free Net Working Capital (DFNWC)	1,845	1,731	1,547	1,536	1,707	1,593	1,650	1,535	1,627	1,683	1,611
Net Working Capital (NWC)	1,845	1,731	1,547	1,536	1,707	1,593	1,650	1,535	1,627	1,683	1,611
Net Nonoperating Expense (NNE)	-12	-12	-13	-8.91	-8.01	-9.18	-7.42	-7.30	-7.58	-8.54	-8.75
Net Nonoperating Obligations (NNO)	-1,639	-1,513	-1,370	-1,272	-1,293	-1,148	-1,319	-1,156	-1,190	-1,314	-1,316
Total Depreciation and Amortization (D&A)	16	21	15	15	16	15	15	14	14	14	14
Debt-free, Cash-free Net Working Capital to Revenue	1.96%	2.34%	1.98%	2.90%	4.17%	4.20%	3.00%	3.36%	3.91%	3.33%	2.63%
Debt-free Net Working Capital to Revenue	17.63%	18.61%	17.36%	16.85%	17.20%	15.03%	14.92%	13.62%	14.57%	15.20%	14.40%
Net Working Capital to Revenue	17.63%	18.61%	17.36%	16.85%	17.20%	15.03%	14.92%	13.62%	14.57%	15.20%	14.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.16	$1.11	$1.18	$1.24	$1.63	$1.70	$1.48	$1.35	$1.65	$1.49	$1.72
Adjusted Weighted Average Basic Shares Outstanding	147.10M	149.14M	143.19M	141.01M	140.42M	140.99M	137.83M	136.27M	134.96M	135.81M	133.54M
Adjusted Diluted Earnings per Share	$1.16	$1.10	$1.17	$1.24	$1.63	$1.68	$1.47	$1.34	$1.64	$1.50	$1.71
Adjusted Weighted Average Diluted Shares Outstanding	148.00M	150.19M	144.13M	141.72M	141.03M	141.72M	138.44M	136.63M	135.29M	136.25M	134.08M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	145.39M	143.90M	141.25M	141.13M	139.98M	138.03M	136.95M	135.72M	134.02M	133.50M	130.79M
Normalized Net Operating Profit after Tax (NOPAT)	159	147	157	166	222	227	197	177	215	192	221
Normalized NOPAT Margin	7.27%	6.44%	7.11%	6.82%	7.40%	7.68%	7.38%	6.66%	7.44%	6.74%	7.95%
Pre Tax Income Margin	10.59%	9.50%	10.57%	9.67%	10.41%	10.60%	10.35%	9.73%	10.30%	9.18%	11.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	25.72%	27.02%	0.00%	30.12%	27.70%	25.15%	24.30%	24.23%	24.48%	25.77%	24.89%
Augmented Payout Ratio	244.09%	212.30%	221.19%	171.42%	136.12%	130.50%	103.78%	117.98%	127.52%	107.95%	117.68%

Financials Breakdown Chart

Key Financial Trends

Expeditors International of Washington (EXPD) has reported quarterly results across the last four calendar years, with a clear pattern of solid cash generation, steady profitability, and a conservative balance sheet. Below are the top trends that may impact retail investors evaluating EXPD's stock, organized to highlight positives first, then neutral observations, and finally potential concerns.

Operating cash flow stayed positive in every 2025 quarter, totaling about $1.01B for the year. Each quarter showed positive net cash from continuing operating activities (Q1: ~$342.6M; Q2: ~$179.2M; Q3: ~$201.4M; Q4: ~$283.3M).
Free cash flow in Q4 2025 was strong, around $270M. Free cash flow (approx. CFO of $283.3M minus capex of about $13.0M) shows material cash available after maintenance investments.
Revenue and profitability remained robust in 2025. Quarterly revenue ranged roughly from $2.65B to $2.89B, with operating income typically in the $250M–$288M range and net income to common between about $184M and $223M per quarter; diluted EPS hovered around $1.3–$1.6 per share.
Liquidity remained solid, supported by about $1.15B–$1.32B in cash and strong total current assets. Latest quarters show a healthy liquidity position, aiding day-to-day operations and flexibility.
Capex remained modest and focused on maintenance. Quarterly purchases of property, plant & equipment were generally in the mid-to-high single-digit millions (e.g., around $8–$14M), suggesting cash generation can be directed toward returns or debt management rather than aggressive expansion.

Gross margin stayed in the mid-teens (roughly 15–16%), indicating stable profitability. Gross profit as a percentage of revenue hovered in the mid-teens across 2025 quarters, consistent with EXPD’s historical mix of services and costs.
Financing activities were negative in 2025 due to shareholder returns and debt management. Net cash from financing activities was consistently negative across the year as dividends and buybacks outpaced new debt or equity inflows.
Capital returns (dividends and occasional buybacks) continued in 2025, signaling a commitment to returning capital to shareholders. The quarterly cash flow shows meaningful dividend payments and stock repurchases, contributing to the negative net financing cash flow but aligned with shareholder value strategies.

Q4 2025 net income to common declined versus the prior-year quarter. Net income to common in Q4 2025 was about $200.7M, down from roughly $236.2M in Q4 2024, signaling quarterly profitability fluctuations.
Financing activity headwinds persisted in 2025. Ongoing negative cash flow from financing activities reflects returns to shareholders and debt management, which may limit near‑term cash flexibility if capital needs rise.

05/14/26 08:07 AM ETAI Generated. May Contain Errors.

Expeditors International of Washington Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Expeditors International of Washington's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Expeditors International of Washington's net income appears to be on an upward trend, with a most recent value of $812.05 million in 2025, rising from $459.50 million in 2015. The previous period was $811.63 million in 2024. See where experts think Expeditors International of Washington is headed by visiting Expeditors International of Washington's forecast page.

Expeditors International of Washington's total operating income in 2025 was $1.05 billion, based on the following breakdown:

Total Gross Profit: $1.75 billion
Total Operating Expenses: $698.45 million

Over the last 10 years, Expeditors International of Washington's total revenue changed from $6.62 billion in 2015 to $11.07 billion in 2025, a change of 67.3%.

Expeditors International of Washington's total liabilities were at $2.54 billion at the end of 2025, a 0.3% increase from 2024, and a 191.1% increase since 2015.

In the past 10 years, Expeditors International of Washington's cash and equivalents has ranged from $807.80 million in 2015 to $2.03 billion in 2022, and is currently $1.31 billion as of their latest financial filing in 2025.

Over the last 10 years, Expeditors International of Washington's book value per share changed from 9.08 in 2015 to 17.58 in 2025, a change of 93.6%.

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Financial statements for NASDAQ:EXPD last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Expeditors International of Washington (EXPD) Financials

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Expeditors International of Washington (EXPD) Financials

Annual Income Statements for Expeditors International of Washington

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