EXPD

MKT CAP:$20B

Expeditors International of Washington, Inc.

Market Cap

$20B

Industrials·Integrated Freight & Logistics·🇺🇸 United States·NYSE

Industrials·Integrated·🇺🇸·NYSE

Stock Price

$149.75-$2.11 (-1.39%)

Apr 23, 2026

Company Details

Expeditors International of Washington, Inc. provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forw...

CEO

Daniel R. Wall

IPO Date

Sep 26, 1984

Website

www.expeditors.com

Key Metrics TTM

Revenue

$11.1B

+4.4% YoY

Net Income

$811M

EPS (Diluted)

$5.94

Free Cash Flow

$953M

Revenue / Share

$82.22

Gross Margin

14.9%

Operating Margin

9.5%

Net Margin

7.3%

FCF Margin

8.6%

P/S

1.8x

P/E

24.5x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 25, 2026

$11.1B+4.4%EPS $5.95

Q4 2025

Feb 25, 2026

$2.9B-3.3%EPS $1.49

Q3 2025

Nov 6, 2025

$2.9B-3.5%EPS $1.64

Q2 2025

Aug 7, 2025

$2.7B+8.7%EPS $1.34

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$3.2B	$441M	$386M
Q2 21	$3.6B	$471M	$411M
Q3 21	$4.3B	$555M	$490M
Q4 21	$5.4B	$698M	$624M
Q3 22	$4.4B	$601M	$527M
Q1 23	$2.6B	$351M	$276M
Q3 23	$2.2B	$301M	$216M
Q4 23	$2.3B	$275M	$199M
Q1 24	$2.2B	$284M	$215M
Q2 24	$2.4B	$299M	$224M
Q3 24	$3.0B	$379M	$302M
Q4 24	$3.0B	$388M	$301M
Q1 25	$2.7B	$353M	$266M
Q2 25	$2.7B	$413M	$248M
Q3 25	$2.9B	$465M	$288M
Q4 25	$2.9B	$413M	$251M

Valuation

Quarter	P/S	P/E
Q1 21	1.6x	21.3x
Q2 21	1.7x	21.4x
Q3 21	1.5x	18.1x
Q4 21	1.3x	15.5x
Q3 22	0.8x	9.3x
Q1 23	1.0x	11.2x
Q3 23	1.1x	13.2x
Q4 23	1.6x	18.6x
Q1 24	1.8x	23.2x
Q2 24	1.9x	25.2x
Q3 24	1.8x	25.0x
Q4 24	1.5x	19.1x
Q1 25	1.5x	19.5x
Q2 25	1.4x	18.3x
Q3 25	1.5x	19.8x
Q4 25	1.9x	25.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$356M	$347M
Q2 21	$30M	$24M
Q3 21	$177M	$168M
Q4 21	$305M	$294M
Q3 22	$670M	$654M
Q1 23	$546M	$536M
Q3 23	$190M	$182M
Q4 23	$158M	$148M
Q1 24	$257M	$247M
Q2 24	$127M	$119M
Q3 24	$90M	$78M
Q4 24	$250M	$240M
Q1 25	$343M	$329M
Q2 25	$179M	$163M
Q3 25	$201M	$190M
Q4 25	$283M	$270M

Capital Expenditures

Quarter	CapEx
Q1 21	$8M
Q2 21	$7M
Q3 21	$10M
Q4 21	$11M
Q3 22	$16M
Q1 23	$10M
Q3 23	$8M
Q4 23	$11M
Q1 24	$10M
Q2 24	$8M
Q3 24	$12M
Q4 24	$10M
Q1 25	$13M
Q2 25	$16M
Q3 25	$11M
Q4 25	$13M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+68.2%	+61.4%
Q2 21	+49.7%	+47.8%
Q3 21	+83.9%	+82.6%
Q4 21	+70.3%	+65.3%
Q3 22	+36.4%	+36.3%
Q1 23	-28.2%	-27.6%
Q3 23	-49.3%	-48.5%
Q4 23	-57.8%	-56.5%
Q1 24	-49.4%	-48.1%
Q2 24	-5.9%	-4.4%
Q3 24	+37.0%	+36.7%
Q4 24	+29.7%	+27.7%
Q1 25	+20.8%	+20.5%
Q2 25	+8.7%	+8.5%
Q3 25	-3.5%	-3.4%
Q4 25	-3.3%	-1.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$11M	0.3%
Q2 21	$31M	0.9%
Q3 21	$15M	0.4%
Q4 21	$12M	0.2%
Q3 22	$14M	0.3%
Q1 23	$12M	0.5%
Q3 23	$16M	0.7%
Q4 23	$11M	0.5%
Q1 24	$12M	0.6%
Q2 24	$26M	1.1%
Q3 24	$10M	0.3%
Q4 24	$11M	0.4%
Q1 25	$12M	0.4%
Q2 25	$27M	1.0%
Q3 25	$18M	0.6%
Q4 25	$12M	0.4%

OpEx Breakdown

Quarter	S&M
Q1 21	$3M
Q2 21	$3M
Q3 21	$4M
Q4 21	$6M
Q3 22	$6M
Q1 23	$6M
Q3 23	$6M
Q4 23	$9M
Q1 24	$7M
Q2 24	$8M
Q3 24	$8M
Q4 24	$11M
Q1 25	$9M
Q2 25	$10M
Q3 25	$10M
Q4 25	$12M

Revenue Segments

Quarter	Airfreight Services	Customs Brokerage And Other Services	Ocean Freight And Ocean Services
Q1 21	$1.5B	$922M	$958M
Q2 21	$1.5B	$987M	$1.1B
Q3 21	$1.6B	$1.1B	$1.6B
Q4 21	$2.1B	$1.2B	$1.9B
Q3 22	$1.5B	$1.2B	$1.7B
Q1 23	$905M	$990M	$697M
Q3 23	$724M	$905M	$560M
Q4 23	$866M	$900M	$512M
Q1 24	$759M	$877M	$571M
Q2 24	$860M	$927M	$652M
Q3 24	$987M	$996M	$1.0B
Q4 24	$1.1B	$983M	$908M
Q1 25	$902M	$983M	$782M
Q2 25	$952M	$1.0B	$676M
Q3 25	$1.0B	$1.1B	$746M
Q4 25	$1.1B	$1.1B	$611M

Revenue by Geography

Quarter	Europe Segment	Latin America Segment	North Asia Segment	Other North America Segment Member	South Asia Segment	United States Segment
Q1 21	$654M	$45M	$1.3B	$95M	$364M	$875M
Q2 21	$737M	$47M	$1.3B	$101M	$418M	$998M
Q3 21	$787M	$54M	$1.7B	$116M	$539M	$1.1B
Q4 21	$946M	$63M	$2.0B	$127M	$726M	$1.3B
Q3 22	$902M	$68M	$1.5B	$141M	$519M	$1.2B
Q1 23	$677M	$55M	$582M	$110M	$224M	$945M
Q3 23	$531M	$47M	$515M	$106M	$207M	$785M
Q4 23	$541M	$45M	$573M	$110M	$234M	$775M
Q1 24	$532M	$44M	$545M	$107M	$228M	$752M
Q2 24	$580M	$45M	$637M	$111M	$288M	$779M
Q3 24	$611M	$62M	$914M	$114M	$445M	$855M
Q4 24	$661M	$63M	$838M	$97M	$430M	$867M
Q1 25	$576M	$62M	$695M	$116M	$365M	$854M
Q2 25	$605M	$67M	$637M	$108M	$360M	$877M
Q3 25	$650M	$68M	$721M	$123M	$406M	$929M
Q4 25	$637M	$65M	$684M	$123M	$425M	$923M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.1B	$0	$2.1B
Q2 22	$2.0B	$0	$2.0B
Q3 22	$2.2B	$0	$2.2B
Q4 22	$2.0B	$0	$2.0B
Q1 23	$2.4B	$0	$2.4B
Q2 23	$1.7B	$0	$1.7B
Q3 23	$1.6B	$0	$1.6B
Q4 23	$1.5B	$0	$1.5B
Q1 24	$1.4B	$0	$1.4B
Q2 24	$1.3B	$0	$1.3B
Q3 24	$1.3B	$0	$1.3B
Q4 24	$1.1B	$0	$1.1B
Q1 25	$1.3B	$0	$1.3B
Q2 25	$1.2B	$0	$1.2B
Q3 25	$1.2B	$0	$1.2B
Q4 25	$1.3B	$0	$1.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	172M	-0.1%	+0.1%
Q2 21	172M	+0.1%	+1.4%
Q3 21	172M	-0.1%	+0.5%
Q4 21	170M	-0.7%	-0.8%
Q3 22	163M	-4.1%	-4.8%
Q1 23	155M	-4.8%	-9.4%
Q3 23	148M	-4.8%	-13.7%
Q4 23	146M	-1.4%	-14.3%
Q1 24	144M	-1.2%	-11.7%
Q2 24	142M	-1.7%	-8.8%
Q3 24	141M	-0.5%	-4.7%
Q4 24	140M	-0.7%	-4.0%
Q1 25	138M	-1.1%	-3.9%
Q2 25	138M	-0.6%	-2.9%
Q3 25	137M	-0.5%	-3.0%
Q4 25	135M	-1.6%	-3.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$182.8K	18K
Q2 21	$206.2K	18K
Q3 21	$246.8K	18K
Q4 21	$284.0K	19K
Q3 22	$229.6K	19K
Q1 23	$129.6K	20K
Q3 23	$109.5K	20K
Q4 23	$126.5K	18K
Q1 24	$122.6K	18K
Q2 24	$135.5K	18K
Q3 24	$166.7K	18K
Q4 24	$164.2K	18K
Q1 25	$148.1K	18K
Q2 25	$147.3K	18K
Q3 25	$160.8K	18K
Q4 25	$142.8K	20K

Revenue / Employee