NYSE: EXPD
Expeditors International
Industrials · Arrangement of Transportation of Freight & Cargo
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$21.2B
Show tableHide table
| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $9.54B |
| FY2017, ended Dec 31, 2017 | $11.4B |
| FY2018, ended Dec 31, 2018 | $11.7B |
| FY2019, ended Dec 31, 2019 | $13.2B |
| FY2020, ended Dec 31, 2020 | $16.1B |
| FY2021, ended Dec 31, 2021 | $22.5B |
| FY2022, ended Dec 31, 2022 | $16.0B |
| FY2023, ended Dec 31, 2023 | $18.3B |
| FY2024, ended Dec 31, 2024 | $15.3B |
| FY2025, ended Dec 31, 2025 | $19.9B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $21.2B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$12.0B
Show tableHide table
| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $6.10B |
| FY2017, ended Dec 31, 2017 | $6.92B |
| FY2018, ended Dec 31, 2018 | $8.14B |
| FY2019, ended Dec 31, 2019 | $7.94B |
| FY2020, ended Dec 31, 2020 | $9.58B |
| FY2021, ended Dec 31, 2021 | $16.5B |
| FY2022, ended Dec 31, 2022 | $17.1B |
| FY2023, ended Dec 31, 2023 | $9.30B |
| FY2024, ended Dec 31, 2024 | $10.6B |
| FY2025, ended Dec 31, 2025 | $11.1B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $12.0B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $431M | $470M |
| FY2017, ended Dec 31, 2017 | $489M | $394M |
| FY2018, ended Dec 31, 2018 | $618M | $525M |
| FY2019, ended Dec 31, 2019 | $590M | $725M |
| FY2020, ended Dec 31, 2020 | $696M | $607M |
| FY2021, ended Dec 31, 2021 | $1.42B | $832M |
| FY2022, ended Dec 31, 2022 | $1.36B | $2.04B |
| FY2023, ended Dec 31, 2023 | $753M | $1.01B |
| FY2024, ended Dec 31, 2024 | $810M | $683M |
| FY2025, ended Dec 31, 2025 | $810M | $953M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $919M | $924M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.03B
Show tableHide table
| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $974M |
| FY2017, ended Dec 31, 2017 | $1.05B |
| FY2018, ended Dec 31, 2018 | $924M |
| FY2019, ended Dec 31, 2019 | $1.23B |
| FY2020, ended Dec 31, 2020 | $1.53B |
| FY2021, ended Dec 31, 2021 | $1.73B |
| FY2022, ended Dec 31, 2022 | $2.03B |
| FY2023, ended Dec 31, 2023 | $1.51B |
| FY2024, ended Dec 31, 2024 | $1.15B |
| FY2025, ended Dec 31, 2025 | $1.31B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.03B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.No figures for this period in the company’s filings.
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 27.8% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.130M
Show tableHide table
| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 180M |
| FY2017, ended Dec 31, 2017 | 177M |
| FY2018, ended Dec 31, 2018 | 172M |
| FY2019, ended Dec 31, 2019 | 170M |
| FY2020, ended Dec 31, 2020 | 169M |
| FY2021, ended Dec 31, 2021 | 167M |
| FY2022, ended Dec 31, 2022 | 154M |
| FY2023, ended Dec 31, 2023 | 144M |
| FY2024, ended Dec 31, 2024 | 138M |
| FY2025, ended Dec 31, 2025 | 134M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 130M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $826M more bought back than issued
Show tableHide table
| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $338M | $45.2M |
| FY2017, ended Dec 31, 2017 | $478M | $50.9M |
| FY2018, ended Dec 31, 2018 | $648M | $56.1M |
| FY2019, ended Dec 31, 2019 | $389M | $61.5M |
| FY2020, ended Dec 31, 2020 | $332M | $62.5M |
| FY2021, ended Dec 31, 2021 | $515M | $69.4M |
| FY2022, ended Dec 31, 2022 | $1.58B | $64.4M |
| FY2023, ended Dec 31, 2023 | $1.39B | $58.4M |
| FY2024, ended Dec 31, 2024 | $855M | $64.4M |
| FY2025, ended Dec 31, 2025 | $667M | $69.2M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $901M | $75.4M |
Revenue (TTM)
$12.0B
+6.8% YoY
Net income (TTM)
$919M
+7.7% YoY
Cash
$1.03B
−10.8% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $25.8B
- P/E
- 28.1×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.1×
- Price / Book
- 12.2×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $12.0B
- Revenue Growth YoY
- 6.8%
- Revenue CAGR 3Y
- −13.4%
- Revenue CAGR 5Y
- 2.9%
- EPS Growth YoY
- 12.1%
- Net Income Growth YoY
- 7.7%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 9.8%
- Net Margin
- 7.6%
- FCF Margin
- 7.7%
- Return on Equity
- 42.6%
Earnings
Trailing 12 months- Net Income
- $919M
- EPS (diluted)
- $6.87
- EBITDA
- $1.24B
- Operating Income
- $1.18B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $1.03B
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $5.13B
- Total Liabilities
- $3.01B
- Shareholders' Equity
- $2.12B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $973M
- Capital Expenditure
- $48.7M
- Free Cash Flow
- $924M
Dividends and risk
Last 12 months- Dividend Yield
- 0.8%
- Dividend / Share
- $1.58
- Beta (5Y)
- 1.07
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 6.8% year over year, at $12.0B.
Note
Net margin of 7.6% over the last 12 months.
Note
Free cash flow of $924M, 7.7% of revenue.
Strength
Share count is down 4.2% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 25, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K51Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 21, 2025 · Read the filing on EDGAR
- Revenue rose about 14% to $10.6 billion, operating income rose 11% and net earnings rose 8%, a recovery from a weak 2023.
- Red Sea disruptions and strong technology and e-commerce demand lifted volumes and freight rates, but management expects ocean rates to keep falling into at least mid-2025.
- The IT control weaknesses remain unfixed for a third year; more faulty controls were found, and management no longer gives a date for completing the fix.
- Rising US tariffs are a new source of uncertainty for trade, though the company holds $1.1 billion in cash and has no long-term debt.
Business momentum
Improving
“Bonuses to field and executive management in 2024 increased 7% when compared to 2023 primarily due to a 11% increase in operating income.”
Outlook
Cautious
“We expect the rate declines that started in the fourth quarter of 2024 to continue into at least the first half of 2025 as demand softens and capacity increases as additional vessels are delivered.”
Financial stress
None
“Other than our recorded lease liabilities, we had no long-term obligations or debt at December 31, 2024.”
Tone against the previous report
More positive
Red flags
- Serious
Weak internal controls
“we are currently unable to estimate when full remediation of these material weaknesses will be completed”
Positives
Shipping volumes grew across all three main services
“Ocean containers shipped increased 7%, airfreight tonnage was up 12% and volumes transacted for customs brokerage and other services grew as well, compared to a slow 2023.”
No long-term debt and enough cash to cover needs
“Management believes that our current cash position and operating cash flows will be sufficient to meet our capital and liquidity requirements for at least the next 12 months and thereafter for the foreseeable future”
Over $1 billion returned to shareholders
“We returned $1,059 million to shareholders through common stock repurchases and dividends.”
Concerns
IT control problems persist, and the auditor gave an adverse opinion
“we identified additional controls that were not designed or operated appropriately that relate to the above-described material weaknesses”
Ocean freight costs grew faster than revenue, squeezing margins
“Ocean freight and ocean services revenues and expenses increased 33% and 44%, respectively, in 2024, as compared with 2023.”
Operating cash flow fell as growth tied up working capital
“Cash from operations was $723 million, down from $1,053 million in 2023.”
New risks since the previous report
Higher US tariffs and likely retaliation could disrupt trade
“The United States has imposed increased tariffs on China, and is considering imposing increased tariffs on imports from Canada, Mexico, and other countries.”
New ships and a reopened Red Sea could push freight rates down
“In addition, if safe passage through the Red Sea resumes, additional capacity will become available due to shorter transit times.”
Customers adding backup customs brokers could reduce brokerage business
“some customers are opting to use back up customs brokerage service providers as a risk reduction strategy”
Customers moving manufacturing to other countries could hurt the business
“Some customers are relocating their manufacturing to other countries to mitigate the impact of higher tariffs on imports, reduce supply chain risks, and address disruptions caused by pandemics and geopolitical issues.”
Indian tax dispute could bring significant extra tax, with no estimate available
“If these matters are adversely resolved, we would recognize significant additional tax expense including interest and penalties.”
Biggest risks named
- Falling ocean freight rates as shipping capacity increases
- Tariffs and trade restrictions disrupting international trade
- Unremediated material weaknesses in IT controls over financial reporting
- Cyber-attacks and major systems disruptions
- Intense competition and inflation squeezing margins
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | −2 | |
| Tone against the previous report | +2 | |
| Financial stress | +2 | |
| Red flags | −15 | |
| New risks | −2 | |
| Score | 51 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 25, 2026 | Pro | |||
| 10-K | Feb 21, 2025 | 51 | Improving | 1 serious | |
| 10-K | Feb 23, 2024 | 26 | Sharp deterioration | 1 serious | |
| 10-K | Mar 1, 2023 | 41 | Stable | 1 serious | |
| 10-K | Mar 15, 2022 | 60 | Strong improvement | 1 medium1 minor | |
| 10-K | Feb 19, 2021 | 72 | Strong improvement | None | |
| 10-K | Feb 21, 2020 | 51 | Weakening | None | |
| 10-K | Feb 22, 2019 | 70 | Strong improvement | None | |
| 10-K | Feb 23, 2018 | 68 | Improving | None | |
| 10-K | Feb 23, 2017 | 51 | Weakening | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 5, 2026. View filings on SEC EDGAR