Expeditors International of Washington, Inc.EXPD
NYSE•Industrials•Integrated Freight & Logistics
Expeditors International of Washington, Inc., together with its subsidiaries, provides logistics services in the Americas, North Asia, South Asia, Europe, and Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage and other services, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other logistics solutions. It also provides optimization, trade compliance consulting, cargo insurance, cargo security, and solutions. In addition, it acts as a freight consolidator or as an agent for the airline that carries the shipment. Further, the company provides ancillary services that include preparation of shipping and customs documentation, packing, crating, insurance services, and the preparation of documentation to comply with local export and import laws. The company was incorporated in 1979 and is headquartered in Bellevue, Washington.
Expeditors International of Was (EXPD) reported trailing twelve months revenue of $11.19B as of March 2026, a 1.1% increase year-over-year. Quarterly revenue reached $2.78B, reflecting continued top-line momentum.
Expeditors International of Was generated $836.15M in TTM net income, with quarterly EBITDA of $308.70M. The operating margin expanded from 10.0% to 10.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (10.6%) and net margin (8.3%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 7.6% a year ago, signaling stronger bottom-line efficiency.
EXPD trades at a P/E of 22.6x (in line with broad market averages) and a P/S of 1.7x. The price-to-book ratio of 8.3x indicates a significant premium over book value.
The company generated $296.62M in free cash flow over the trailing twelve months, a 10.0% decrease year-over-year, indicating cash generation ability. The balance sheet shows $4.78B in total assets with no in long-term debt against $2.28B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~9.8% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 35.3% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~9.7% — no sign of cost or pricing stress.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 5.3% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation