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Expeditors International (EXPD) stock

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NYSE: EXPD NYSE Air Freight & Logistics Next results ~November 3, 2026

B+ Fundamentals grade

Expeditors International is a US-listed company in the air freight & logistics industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$120

Cash-flow model

Base case. Range ~$93–$160 across our lower- and higher-growth cases (-2.4%–7.6% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 40% below it.

Price used: $200.56, November 2, 2026

Expeditors International valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 4 sales by directors and officers, last 12 monthsInsider trades
  • Funds426 adding, 431 cuttingOf 70 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Expeditors International files

Where Expeditors International stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $12.0bn, up 6.8% on a year earlier, faster than 1.1% a quarter earlier. Free-cash-flow margin held at 7.7%. The diluted share count is down 3.7% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 1 financial-health checks. Our cash-flow model value is $116 a share, against a share price of $198. At that price, our model says the market is pricing in about 12.6% a year of cash-flow growth for five years, faster than the -6.1% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Expeditors International's trailing-twelve-month revenue grew 6.8% year on year, with a free-cash-flow margin of 7.7%. Where it stands out: change in share count of -3.7% ranks 1 of 20 air freight & logistics companies we cover. Where it lags: days sales outstanding of 80 days ranks 13 of 16 air freight & logistics companies we cover.

Our discounted-cash-flow model values the business at ~$120 per share in the base case (~$93–$160 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 20% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 5.6 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 3.7% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 15.2% over 90 days.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $200.56 is 40% above our value per share of $120.
  • Below peers: days sales outstanding. Days sales outstanding of 80 days ranks 13 of 16 air freight & logistics companies we cover (median 55 days).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$2.03 against an average estimate of $1.69: beat by 19.9%
Revenue
$3.50bn, up 32.1% on a year earlier
Share reaction
+6.3% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
lower our cost structure $50m (annually); percent of total corporate overhead expenses 10% (annually)
Next report
November 3, 2026; average EPS estimate $2.22

Expeditors International's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.9%
  • 1 week+2.1%
  • 1 month+4.2%
  • This year+35.3%
  • 1 year+66.2%
  • 5 years+66.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$12B
Operating margin
9.8%
Net margin
7.6%
EPS (TTM, diluted)
$6.86

Growth

Revenue growth
+6.8%
Change in growth rate
+5.6 pts
Share count change
−3.7%

Cash

Free cash flow (TTM)
$924M
FCF margin
7.7%
Stock pay % of revenue
0.6%

Earnings

Last results
August 4, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Announcement
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Expeditors International valuation models and calculator

What the price is pricing in

The share price implies about 12.6% a year of cash-flow growth for five years.That is faster than the -6.1% a year revenue growth Expeditors International has delivered.

  • Priced in12.6%
  • Last 12 months6.8%
  • 3 years a year-1.6%
  • 5 years a year-6.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($200.28, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$120
Price used
$200.28close November 3, 2026
Implied change
▼ 40%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Expeditors International's free cash flow after stock-based pay with after-tax interest added back ($825M, FY2026 Q2 TTM), growing 7.9% and 1.8% in the next two years (forecasts, guidance and its record), then back to 2.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$93–~$160 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Expeditors International's free cash flow after stock-based pay ( $825M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Expeditors International as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.86 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$120 ~$93–$160 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$99–$130 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$160 ~$110–$240 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$99 ~$84–$120 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$99–$160 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Expeditors International with Air Freight & Logistics in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −12%
  • Last year's free-cash-flow margin change, if it persists ▲ +6%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $100$132$176$233$307$404
8.5% $78$102$133$174$227$296
10% $65$83$108$139$179$231

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$39.56$47.19$58.49$62.30$72.37$89.36$127.34$99.73$123.52$108.88$148.25$200.56
Market value$7.5bn$8.6bn$10.6bn$11.1bn$12.6bn$15.3bn$21.8bn$16.4bn$18.6bn$15.4bn$20.2bn$26.8bn
+ Net debt (− = net cash)−$808m−$974m−$1.1bn−$924m−$1.2bn−$1.5bn−$1.7bn−$2.0bn−$1.5bn−$1.1bn−$1.3bn−$1.0bn
Enterprise value$6.7bn$7.6bn$9.6bn$10.2bn$11.4bn$13.7bn$20.1bn$14.4bn$17.0bn$14.3bn$18.9bn$25.8bn
Multiples
Price / sales 1.1x1.4x1.5x1.4x1.6x1.6x1.3x1.0x2.0x1.5x1.8x2.2x
Price / earnings 16.5x20.0x21.7x17.9x21.4x21.9x15.4x12.1x24.6x19.0x24.9x29.2x
Price / free cash flow 14.4x18.3x27.0x21.1x17.4x25.1x26.2x8.0x18.3x22.6x21.2x29.1x
EV / EBITDA 8.8x10.7x12.8x11.9x13.9x13.8x10.2x7.6x16.9x13.0x17.0x20.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

77 /100

Strong moat

How hard Expeditors International's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 17.6% of total assets over 10 years.

  • Durability 12 / 20

    Operating margin has been a median 10.0%; its worst year was 9.4%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 7.2% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 22.0% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (82 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $3.6bn and EPS of $2.22 (range $2.04 to $2.42) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.90 +33% $13.2bn +20%
Next $8.20 +4% $13.3bn +0%

Next year's EPS estimate has moved +15.2% in 90 days, across 15 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +14.8% on 90 days ago. In the last 30 days, 4 analysts raised Expeditors International's forecast and 1 cut it.

Consensus EPS forecast Expeditors International, last 90 days
$6.50 $7.00 $7.50 $8.00 $8.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.88 Current fiscal year, 60 days ago: $7.72 Current fiscal year, 30 days ago: $7.72 Current fiscal year, 7 days ago: $7.87 Current fiscal year, Now: $7.90 $7.90 Next fiscal year, 90 days ago: $7.12 Next fiscal year, 60 days ago: $8.07 Next fiscal year, 30 days ago: $8.07 Next fiscal year, 7 days ago: $8.20 Next fiscal year, Now: $8.20 $8.20

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.88$7.12
60 days ago $7.72$8.07
30 days ago $7.72$8.07
7 days ago $7.87$8.20
Now $7.90$8.20

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.69 $2.03 +19.9%
Mar 2026 $1.34 $1.71 +27.8%
Dec 2025 $1.46 $1.49 +1.9%
Sept 2025 $1.39 $1.64 +18.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • lower our cost structure · Global Technology annually about $50m
    “While this was a strategic restructuring not driven by cost reduction, we expect it will lower our cost structure going forward by approximately $50 million annually, which equates to nearly 10% of our total corporate overhead expenses.” source
  • percent of total corporate overhead expenses annually about 10%
    “While this was a strategic restructuring not driven by cost reduction, we expect it will lower our cost structure going forward by approximately $50 million annually, which equates to nearly 10% of our total corporate overhead expenses.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Expeditors International's revenue by +7.9% next year and +1.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.3%, weight 69%) and the company's own record (+2.6%, weight 31%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy317%
Hold1056%
Sell528%

Monthly trend

  1. Oct 2026310418
  2. Sep 2026310418
  3. Aug 202639417
  4. Jul 2026384217

Counts of recommendations published by analysts covering Expeditors International, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.2%
of tradable shares
Days to cover
4.07
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.6%
of shares
Employees
20,389
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +66.2%

$120.64 on October 31, 2025 to $200.56

ThenNowEffect
Revenue (last 12 months) $11.3bn $12.0bn +6.8%
Net margin 7.6% 7.6% +0.9%
P/E multiple 19.7x 29.2x +48.6%
Share count 139m 134m +3.9%

Biggest factor: p/e multiple.

Last 3 years +83.9%

$109.05 on November 3, 2023 to $200.56

ThenNowEffect
Revenue (last 12 months) $12.6bn $12.0bn −4.7%
Net margin 8.4% 7.6% −8.7%
P/E multiple 16.2x 29.2x +79.9%
Share count 157m 134m +17.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EXPD+43%−22%+24%−12%+36%+35%
Industry peers (median)+26%−23%+16%−9%−19%−23%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EXPD67%33%58%50%83%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EXPD−12%−35%−15%−15%−19%−16%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 36% from December 16, 2021 to September 26, 2022. Getting back needed a 55% gain, reached on November 4, 2025, 1135 days after the low.

Price behaviour

52-week range
$121.19 – $200.56
From 52-week high
0.0%
vs 50-day average
+4.5%
vs 200-day average
+20.3%
Volatility (1 year)
31%
Beta vs S&P 500
0.49

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±4.3%
After a week
8 up, 4 down
typical move ±4.6%
After a month
10 up, 2 down
typical move ±6.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +6.3% +1.6% +3.9% +9.1%
May 5, 2026 +8.3% +2.2% +10.5% +15.2%
February 24, 2026 −5.2% +1.6% −1.1% −4.3%
November 4, 2025 +12.6% −0.8% +13.9% +23.5%
August 5, 2025 +1.6% +0.3% +3.3% +4.1%
May 6, 2025 −3.4% −0.4% +3.2% +0.1%
February 18, 2025 +2.3% +0.5% +4.2% +2.4%
November 5, 2024 −0.8% +3.7% −1.4% +0.7%
August 6, 2024 −3.6% +0.2% −1.6% +1.0%
May 7, 2024 +1.0% +0.1% +1.6% +9.2%
February 20, 2024 −5.0% −0.5% −4.4% −3.7%
November 7, 2023 +1.5% +0.4% +6.2% +8.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Expeditors International’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Expeditors International in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Expeditors International
$8B $9B $10B $11B $12B $13B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $10.5B Revenue (TTM), FY23 Q4: $9.3B Revenue (TTM), FY24 Q1: $8.9B Revenue (TTM), FY24 Q2: $9.1B Revenue (TTM), FY24 Q3: $9.9B Revenue (TTM), FY24 Q4: $10.6B Revenue (TTM), FY25 Q1: $11.1B Revenue (TTM), FY25 Q2: $11.3B Revenue (TTM), FY25 Q3: $11.2B Revenue (TTM), FY25 Q4: $11.1B Revenue (TTM), FY26 Q1: $11.2B Revenue (TTM), FY26 Q2: $12B $12B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $10.5B
FY23 Q4 $9.3B
FY24 Q1 $8.9B
FY24 Q2 $9.1B
FY24 Q3 $9.9B
FY24 Q4 $10.6B
FY25 Q1 $11.1B
FY25 Q2 $11.3B
FY25 Q3 $11.2B
FY25 Q4 $11.1B
FY26 Q1 $11.2B
FY26 Q2 $12B
Revenue growth, TTM YoY Expeditors International
-60% -40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -45.0% Revenue growth, TTM YoY, FY23 Q4: -45.5% Revenue growth, TTM YoY, FY24 Q1: -40.6% Revenue growth, TTM YoY, FY24 Q2: -27.9% Revenue growth, TTM YoY, FY24 Q3: -5.2% Revenue growth, TTM YoY, FY24 Q4: 14.0% Revenue growth, TTM YoY, FY25 Q1: 24.1% Revenue growth, TTM YoY, FY25 Q2: 23.7% Revenue growth, TTM YoY, FY25 Q3: 12.5% Revenue growth, TTM YoY, FY25 Q4: 4.4% Revenue growth, TTM YoY, FY26 Q1: 1.1% Revenue growth, TTM YoY, FY26 Q2: 6.8% 6.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -45.0%
FY23 Q4 -45.5%
FY24 Q1 -40.6%
FY24 Q2 -27.9%
FY24 Q3 -5.2%
FY24 Q4 14.0%
FY25 Q1 24.1%
FY25 Q2 23.7%
FY25 Q3 12.5%
FY25 Q4 4.4%
FY26 Q1 1.1%
FY26 Q2 6.8%
Operating margin (TTM) Expeditors International
9% 9.5% 10% 10.5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 10.2% Operating margin (TTM), FY23 Q4: 10.1% Operating margin (TTM), FY24 Q1: 9.9% Operating margin (TTM), FY24 Q2: 9.4% Operating margin (TTM), FY24 Q3: 9.5% Operating margin (TTM), FY24 Q4: 9.8% Operating margin (TTM), FY25 Q1: 9.9% Operating margin (TTM), FY25 Q2: 9.9% Operating margin (TTM), FY25 Q3: 9.9% Operating margin (TTM), FY25 Q4: 9.5% Operating margin (TTM), FY26 Q1: 9.7% Operating margin (TTM), FY26 Q2: 9.8% 9.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 10.2%
FY23 Q4 10.1%
FY24 Q1 9.9%
FY24 Q2 9.4%
FY24 Q3 9.5%
FY24 Q4 9.8%
FY25 Q1 9.9%
FY25 Q2 9.9%
FY25 Q3 9.9%
FY25 Q4 9.5%
FY26 Q1 9.7%
FY26 Q2 9.8%
FCF margin (TTM) Expeditors International
4% 6% 8% 10% 12% 14% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 12.8% FCF margin (TTM), FY23 Q4: 10.9% FCF margin (TTM), FY24 Q1: 8.1% FCF margin (TTM), FY24 Q2: 7.6% FCF margin (TTM), FY24 Q3: 6.0% FCF margin (TTM), FY24 Q4: 6.4% FCF margin (TTM), FY25 Q1: 6.9% FCF margin (TTM), FY25 Q2: 7.2% FCF margin (TTM), FY25 Q3: 8.3% FCF margin (TTM), FY25 Q4: 8.6% FCF margin (TTM), FY26 Q1: 8.2% FCF margin (TTM), FY26 Q2: 7.7% 7.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 12.8%
FY23 Q4 10.9%
FY24 Q1 8.1%
FY24 Q2 7.6%
FY24 Q3 6.0%
FY24 Q4 6.4%
FY25 Q1 6.9%
FY25 Q2 7.2%
FY25 Q3 8.3%
FY25 Q4 8.6%
FY26 Q1 8.2%
FY26 Q2 7.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Expeditors International took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $11.1B
  2. Other operating costs $10B · 90.1%
  3. Operating income $1.1B · 9.5%
  4. Income tax $282M · 2.5%
  5. Net income $810M · 7.3%

Shares of revenue. Source: Expeditors International's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4.1 6.0 6.2 6.0 6.1 6.6 6.6 6.1 6.9 8.1 7.9 9.6 16.5 17.1 9.3 10.6 11.1 12.0
Gross profit 1.4 1.7 1.9 1.8 — — — — — — — — — — — — — —
EBITDA 0.4 0.6 0.7 0.6 0.6 0.6 0.8 0.7 0.7 0.9 0.8 1.0 2.0 1.9 1.0 1.1 1.1 1.2
Operating income 0.4 0.5 0.6 0.5 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 1.9 1.8 0.9 1.0 1.1 1.2
Net income 0.2 0.3 0.4 0.3 0.3 0.4 0.5 0.4 0.5 0.6 0.6 0.7 1.4 1.4 0.8 0.8 0.8 0.9
Diluted EPS $1.11 $1.59 $1.79 $1.57 $1.68 $1.92 $2.40 $2.36 $2.69 $3.48 $3.39 $4.07 $8.27 $8.26 $5.01 $5.72 $5.95 $6.86
Growth (year on year)
Revenue −27.4% +45.8% +3.3% −2.7% +1.5% +8.0% +0.8% −7.8% +13.5% +17.6% −2.4% +20.7% +72.4% +3.3% −45.5% +14.0% +4.4% +6.8%
EBITDA −17.2% +37.4% +12.2% −12.9% +5.2% +7.3% +19.2% −6.6% +4.5% +13.5% −3.9% +22.0% +96.6% −4.0% −46.4% +9.4% +0.6% +5.3%
Operating income −18.6% +42.1% +13.0% −14.2% +4.0% +7.7% +21.3% −7.1% +4.5% +13.8% −3.8% +22.7% +103.0% −4.4% −48.5% +10.8% +1.1% +6.0%
Net income −20.2% +43.3% +12.1% −13.6% +4.5% +8.1% +21.3% −5.8% +13.6% +26.3% −4.5% +17.9% +103.3% −4.1% −44.5% +7.6% +0.0% +7.7%
Diluted EPS −19.0% +43.2% +12.6% −12.3% +7.0% +14.3% +25.0% −1.7% +14.0% +29.4% −2.6% +20.1% +103.2% −0.1% −39.3% +14.2% +4.0% +11.9%
Margins
Gross margin 33.8% 28.4% 30.8% 30.4% — — — — — — — — — — — — — —
EBITDA margin 10.4% 9.8% 10.6% 9.5% 9.9% 9.8% 11.6% 11.8% 10.8% 10.5% 10.3% 10.4% 11.9% 11.0% 10.8% 10.4% 10.0% 10.3%
Operating margin 9.4% 9.2% 10.0% 8.9% 9.1% 9.1% 10.9% 11.0% 10.1% 9.8% 9.7% 9.8% 11.6% 10.7% 10.1% 9.8% 9.5% 9.8%
Net margin 5.9% 5.8% 6.3% 5.6% 5.7% 5.7% 6.9% 7.1% 7.1% 7.6% 7.4% 7.3% 8.6% 8.0% 8.1% 7.6% 7.3% 7.6%
Free-cash-flow margin 7.2% 5.9% 6.2% 5.4% 5.8% 5.4% 7.9% 7.7% 5.7% 6.5% 9.1% 6.3% 5.0% 12.0% 10.9% 6.4% 8.6% 7.7%
Cash flow
Cash from operations 0.3 0.4 0.5 0.4 0.4 0.4 0.6 0.5 0.5 0.6 0.8 0.7 0.9 2.1 1.1 0.7 1.0 1.0
Capital spending 0.0 0.0 0.1 0.0 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 0.0
Free cash flow 0.3 0.4 0.4 0.3 0.4 0.4 0.5 0.5 0.4 0.5 0.7 0.6 0.8 2.0 1.0 0.7 1.0 0.9
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.3 0.3 0.3 0.3 0.3 0.3 0.5 0.4 0.3 0.5 0.7 0.5 0.8 2.0 1.0 0.6 0.9 0.8
Balance sheet
Cash 0.9 1.1 1.3 1.3 1.2 0.9 0.8 1.0 1.1 0.9 1.2 1.5 1.7 2.0 1.5 1.1 1.3 1.0
Total debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net debt (negative = net cash) −0.9 −1.1 −1.3 −1.3 −1.2 −0.9 −0.8 −1.0 −1.1 −0.9 −1.2 −1.5 −1.7 −2.0 −1.5 −1.1 −1.3 −1.0
Diluted shares 217m 216m 215m 212m 207m 197m 190m 183m 182m 178m 174m 171m 171m 164m 150m 142m 136m 134m
Returned to shareholders
Dividends 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 —
Buybacks 0.1 0.2 0.1 0.3 0.3 0.6 0.6 0.3 0.5 0.6 0.4 0.3 0.5 1.6 1.4 0.9 0.7 0.9
Total returned 0.2 0.3 0.2 0.4 0.4 0.7 0.8 0.5 0.6 0.8 0.6 0.5 0.7 1.8 1.6 1.1 0.9 0.9

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 1 checks passed · June 30, 2026
What it owns · $5.1bn
Short-term assets $4.0bnLonger-term assets $1.1bn
What it owes, and who funded it · $4.7bn
Short-term liabilities $2.6bnShareholders' equity $2.1bn
  • Short-term assets cover short-term liabilities $4.0bn of assets due within a year against $2.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Expeditors International's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$901M
Returned to shareholders
98%
of free cash flow
Buybacks, last 3 fiscal years
$2.9B
Diluted share count
−3.7%
year over year
Total shareholder yield
3.5%
dividends 0.0% + buybacks 3.5% of market value
Days sales outstanding
80 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in air freight & logistics
Last 12 months unless stated EXPD GXO CHRW ZTO RXO FWRD Median
Revenue, last 12 months $12.0bn $13.6bn $18.2bn $6.8bn $6.5bn $2.5bn $555m
Revenue growth, last 12 months 6.8% 7.6% 10.4% 11.0% 10.1% −0.1% 6.4%
Revenue growth, 3-year average −1.6% 12.9% −0.4% — 17.1% 18.1% 2.5%
Revenue growth, latest quarter 32.1% 4.3% 29.5% — 31.7% 8.8% 15.2%
Gross margin 30.4% — — 25.0% — 51.8% 10.9%
Operating margin 9.8% 2.4% 4.9% 21.3% −0.8% −6.7% −0.8%
Operating margin, 3-year average 9.7% 2.1% 4.3% 22.7% −0.8% −21.1% 2.0%
Net margin 7.6% 1.0% 3.7% 18.5% −1.3% −11.4% 1.0%
Cash from operations / revenue 8.1% 3.7% 2.9% 24.4% −0.2% 2.8% 1.0%
Free-cash-flow margin 7.7% 1.3% 2.9% 12.0% −1.1% 1.9% 1.0%
Free-cash-flow margin, 3-year average 7.5% 1.8% 3.2% 3.7% −0.8% −0.3% 1.5%
Stock pay / revenue 0.6% 0.3% 0.5% 0.5% 0.4% 0.4% 0.5%
Change in share count −3.7% −2.4% −1.1% −2.1% 1.4% 7.2% 0.8%

Median of all 21 companies we cover in air freight & logistics. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 air freight & logistics companies
Measure Company Peer median Rank
Revenue growth Growth 6.8% 6.4% 9 of 21
Change in growth rate Growth +5.6pp +2.4pp 7 of 21
Operating margin Profitability 9.8% -0.8% 3 of 21
Net margin Profitability 7.6% 1.0% 4 of 21
Free-cash-flow margin Cash generation 7.7% 1.0% 3 of 21
Stock pay as % of revenue Cash generation 0.6% 0.5% 11 of 18
Change in share count Balance sheet -3.7% 0.9% 1 of 20
Days sales outstanding Balance sheet 80 days 55 days 13 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Customs Brokerage and Other Services $4.3B 38.6% ▲ 12.9%
Airfreight Services $4B 36.0% ▲ 8.5%
Ocean Freight and Ocean Services $2.8B 25.4% ▼ 10.6%

From Expeditors International's 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$20.9B
Institutions reporting
950
Shares held vs prior quarter
▲ 0.5%
Positions opened / closed
110 / 70

Top buyers and sellers, Q2 2026: 426 institutions bought and 431 sold ; the biggest buyer was Blackrock, Inc (+1.0M shares) and the biggest seller First Eagle Investment Management, LLC (−1.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2.2B 13.5M 10.5% ▲ 8.5%
Vanguard Capital Management LLC $1.4B 8.5M 6.7% ▼ 1.7%
State Street Corp $1.2B 7.3M 5.7% ▲ 1.5%
Vanguard Portfolio Management LLC $1.1B 6.6M 5.2% ▼ 0.4%
Loomis Sayles & Co L P $896M 5.5M 4.3% ▼ 2.1%
First Eagle Investment Management, LLC $659M 4.0M 3.2% ▼ 32.0%
Geode Capital Management, LLC $578M 3.6M 2.8% ▼ 0.9%
Fil Ltd $504M 3.1M 2.4% ▲ 0.2%
Boston Partners $490M 3.0M 2.4% ▲ 2.4%
Bank Of America Corp $421M 2.6M 2.0% ▲ 0.8%
Morgan Stanley $383M 2.3M 1.8% ▲ 10.3%
Baird Financial Group, Inc. $365M 2.2M 1.8% ▲ 2.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Expeditors International's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $3.3M 4 trades by 4 insiders · 0% under pre-set plans
Net ▼ $3.3M net selling
Insider Date Trade Shares Price Value
Bell Blake R President Global Business Dev February 27, 2026 Sell 10,351 $144.08 $1.5M
Wall Daniel R President and CEO February 27, 2026 Sell 6,100 $145.07 $884,927
Emmert Mark A Director November 7, 2025 Sell 5,400 $135.25 $730,350
Dickerman Jeffrey F Senior VP/Gen Counsel/Corp Sec November 5, 2025 Sell 1,500 $134.17 $201,255

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 26 trades and filings

No trades in Expeditors International disclosed in the last 12 months; 26 earlier trades on record.

  • Kathy E. Manning(D-NC 6):Purchase, $1,001 - $15,000, traded July 2, 2024, filed August 16, 2024
  • Lois Frankel(D-FL 22):Sale (full), $1,001 - $15,000, traded September 8, 2023, filed October 10, 2023
  • Kathy E. Manning(D-NC 6):Purchase, $1,001 - $15,000, traded July 27, 2022, filed August 10, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 24, 2026
  • November 4, 2025
  • August 5, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Expeditors International was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Expeditors International in brief

What does Expeditors International do?
Expeditors International is a US-listed company in the air freight & logistics industry. Its financial year ends in December.
What is Expeditors International's stock ticker?
Expeditors International trades under the ticker EXPD on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Expeditors International's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Expeditors International reported revenue of $12B, 6.8% higher than a year earlier, according to its SEC filings.
What is Expeditors International's free cash flow?
Expeditors International's free-cash-flow margin is 7.7% of revenue over the trailing twelve months, ranking 3 of the 21 air freight & logistics companies we cover.
What is Expeditors International's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Expeditors International's free cash flow after stock-based pay gives ~$120 per share in the base case, and ~$93–$160 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Expeditors International's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Expeditors International buying back stock, and does it pay a dividend?
Expeditors International spent $901M on share repurchases over the trailing twelve months, and its diluted share count fell 3.7% over the year.
What is Expeditors International's market cap?
On November 2, 2026, Expeditors International's market capitalisation was about $26.8B, with a price-to-earnings ratio of 29.2 and net debt of -$1B. Market figures come from third-party market data and may be delayed.
Who are Expeditors International's competitors?
In our Air Freight & Logistics peer group, the companies closest to Expeditors International are GXO Logistics, Inc., C.H. Robinson, ZTO Express (cayman) Inc., RXO, Inc. and Forward AIR Corp. The side-by-side comparison below sets their revenue, margins and growth against Expeditors International's.
Are insiders buying or selling Expeditors International stock?
Over the last 12 months, Expeditors International's directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.
When is Expeditors International's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Expeditors International announces its own schedule.