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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $11.1B | $1.1B | $810M | $953M | 34.4% | 4.4% | 0.0% |
| 2024 | $10.6B | $1.1B | $810M | $683M | 36.4% | 14.0% | 7.6% |
| 2023 | $9.3B | $1.0B | $753M | $1.0B | 31.5% | -45.5% | -44.5% |
| 2022 | $17.1B | $1.9B | $1.4B | $2.0B | 43.6% | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 17,071.28 | 9,300.11 | 10,600.52 | 11,069.01 |
| Operating Revenue | - | 17,071.28 | 9,300.11 | 10,600.52 | 11,069.01 |
| Cost Of Revenue | - | 14,900.15 | 8,054.63 | 9,251.48 | 9,638.67 |
| Gross Profit | - | 2,171.13 | 1,245.48 | 1,349.04 | 1,430.34 |
| Operating Expense | - | 346.76 | 305.54 | 307.72 | 377.79 |
| Selling General And Administration | - | 24.29 | 27.91 | 33.33 | 40.10 |
| Total Expenses | - | 15,246.91 | 8,360.18 | 9,559.19 | 10,016.46 |
| Operating Income | - | 1,824.37 | 939.93 | 1,041.32 | 1,052.55 |
| Total Operating Income As Reported | - | 1,824.37 | 939.93 | 1,041.32 | 1,052.55 |
| EBITDA | - | 1,881.71 | 1,007.69 | 1,102.41 | 1,109.32 |
| Normalized EBITDA | - | 1,881.71 | 1,007.69 | 1,102.41 | 1,109.32 |
| EBIT | - | 1,824.37 | 939.93 | 1,041.32 | 1,052.55 |
| Interest Income | - | 25.55 | 70.45 | 46.71 | 35.72 |
| Interest Expense | 0.41 | 23.28 | 4.80 | - | - |
| Net Interest Income | - | 25.55 | 70.45 | 46.71 | 35.72 |
| Other Non Operating Income Expenses | - | -14.03 | 4.64 | 6.77 | 5.80 |
| Other Income Expense | - | -14.03 | 4.64 | 6.77 | 5.80 |
| Interest Income Non Operating | - | 25.55 | 70.45 | 46.71 | 35.72 |
| Interest Expense Non Operating | 0.41 | 23.28 | 4.80 | - | - |
| Net Non Operating Interest Income Expense | - | 25.55 | 70.45 | 46.71 | 35.72 |
| Pretax Income | - | 1,835.89 | 1,015.03 | 1,094.80 | 1,094.06 |
| Tax Provision | - | 475.29 | 263.25 | 283.17 | 282.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 1,360.60 | 751.78 | 811.63 | 812.05 |
| Net Income From Continuing And Discontinued Operation | - | 1,357.40 | 752.88 | 810.07 | 810.33 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,357.40 | 752.88 | 810.07 | 810.33 |
| Net Income | - | 1,357.40 | 752.88 | 810.07 | 810.33 |
| Net Income Common Stockholders | - | 1,357.40 | 752.88 | 810.07 | 810.33 |
| Net Income Including Noncontrolling Interests | - | 1,360.60 | 751.78 | 811.63 | 812.05 |
| Normalized Income | - | 1,357.40 | 752.88 | 810.07 | 810.33 |
| Diluted NI Availto Com Stockholders | - | 1,357.40 | 752.88 | 810.07 | 810.33 |
| Basic Average Shares | - | 163.01 | 149.14 | 140.99 | 135.81 |
| Diluted Average Shares | - | 164.43 | 150.19 | 141.72 | 136.25 |
| Reconciled Depreciation | - | 57.34 | 67.76 | 61.09 | 56.77 |
| Reconciled Cost Of Revenue | - | 14,900.15 | 8,054.63 | 9,251.48 | 9,638.67 |
| Minority Interests | - | -3.21 | 1.10 | -1.56 | -1.72 |
| Rent Expense Supplemental | - | 209.53 | 232.36 | 241.01 | 263.89 |
| Other Operating Expenses | - | 322.47 | 277.63 | 274.39 | 337.69 |
| Selling And Marketing Expense | - | 24.29 | 27.91 | 33.33 | 40.10 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Expeditors International of Washington, Inc.this co. | EXPD | $20.9B | 25.85 | 8.89 | 34.4% | 18.21 |
| Verisk Analytics, Inc. | VRSK | $23.6B | 25.96 | 76.32 | 293.9% | 15.76 |
| C.H. Robinson Worldwide, Inc. | CHRW | $21.8B | 37.06 | 11.79 | 31.8% | 25.61 |
| Veralto Corporation | VLTO | $20.8B | 22.14 | 6.70 | 30.3% | 16.08 |
| Equifax Inc. |
| - |
| 2021 | - | - | - | - | - | - | - |
| EFX |
| $20.6B |
| 31.24 |
| 4.48 |
| 14.3% |
| 13.92 |
| Southwest Airlines Co. | LUV | $20.2B | 45.79 | 2.53 | 5.5% | 10.26 |
| Snap-on Incorporated | SNA | $19.6B | 19.30 | 3.31 | 17.1% | 12.99 |
| Global Payments Inc. | GPN | $18.5B | 13.25 | 0.81 | 6.1% | 9.65 |
| Lennox International Inc. | LII | $18.0B | 22.37 | 15.50 | 69.3% | 17.10 |
| Peer Median | - | 24.17 | 5.59 | 23.7% | 14.84 | |