Expeditors International of Washington, Inc. (EXPD) — Fundamental Analysis & Key Financial Ratios

Kaplio's reading: Expeditors International of Washington, Inc.

Updated on October 16, 2026 · accounts published on August 4, 2026

A highly profitable, cash-rich business with thin

Expeditors International of Washington trades at a P/E of 28.9, 24 % above its ten-year median, with ROIC of 33 % and net cash on the balance sheet.

• Is Expeditors International of Washington expensive or cheap? Its P/E of 28.9 over the last 12 months is 24 % above its ten-year median; it traded lower 94 % of the past decade.
• How is the business doing? ROIC of 33 % over the last 12 months is 24 points above the sector median, while revenue grew 4.4 % year on year.
• How strong is the balance sheet? Net cash of $5.48 per share in fiscal 2025 and debt to equity of 0.27; the dividend has risen for 11 straight years.
• What to expect from the next earnings? Analysts expect EPS of $2.22 on November 3, 2026; the 2026 EPS consensus rose 2.2 % in the last 30 days.
• Does it turn its margin into cash, and at what multiple of the cycle does it trade? Free cash flow was 117 % of net income in fiscal 2025, while EV/EBITDA of 20.2× compares with a seven-year average of 13.6×.

Is Expeditors International of Washington expensive or cheap?

Expeditors International of Washington trades at a P/E of 28.9 over the last 12 months. Its ten-year median is 23.3, and over the decade the multiple ranged from 10.5 to 32.5. It traded at a lower P/E 94 % of the time over the past decade. The gap with its peers is narrower: the sector median P/E is 25.8, a 12 % premium. EV/EBITDA of 20.2× sits well above its seven-year average of 13.6×, and the free cash flow yield is 4.3 %. The stock is up 67 % in 12 months and sits within 1 % of its 52-week high of $199.64, so the price already reflects a lot of good news.

How is the business doing?

Few industrials earn returns like Expeditors International of Washington. ROIC is 33 % over the last 12 months against a sector median of 8.9 %, and it has stayed above 10 % in each of the last ten fiscal years. ROE stands at 41 %. Growth is modest: over the last 12 months revenue rose 4.4 % and EPS 4.0 %, though revenue per share grew 7.4 % a year from fiscal 2020 to 2025. Margins are thin but stable. The operating margin of 9.8 % over the last 12 months compares with 9.5 % in fiscal 2025 and a 2014-2025 average of 10.2 %, so it is holding steady rather than expanding.

How strong is the balance sheet?

The company holds more cash than debt. In fiscal 2025 it had $9.68 per share of cash against $4.20 of debt, a net cash position worth 2.8 % of the share price, and net debt to EBITDA was −0.6×. Over the last 12 months debt to equity is 0.27 and the current ratio 1.57. The Altman Z-score of 8.9 is far above the 2.99 safe-zone threshold, and the Piotroski score is 7 of 9. The dividend yields only 0.8 %, but it has risen for 11 consecutive fiscal years, and the fiscal 2025 payout of 25 % of earnings leaves plenty of room to keep raising it.

What to expect from the next earnings?

Expeditors International of Washington reports on November 3, 2026, and analysts expect EPS of $2.22 for the quarter. The company has beaten EPS estimates in each of the last 8 quarters. On August 4, 2026 it reported $2.03 against $1.69 expected, a 20 % beat. Estimates are rising: over the last 30 days the 2026 EPS consensus went from $7.71 to $7.88 (up 2.2 %, 12 analysts) and the revenue consensus rose 1.5 %. Analysts are still cautious, though: of the 33 who cover the stock, 5 rate it a buy, 21 a hold and 7 a sell.

Does it turn its margin into cash, and at what multiple of the cycle does it trade?

Industrials are semi-cyclical, so a single year's earnings can mislead. Investors in the sector look instead at order books, operating margin and how much profit turns into cash. Expeditors International of Washington passes the cash test easily: free cash flow was 117 % of net income in fiscal 2025, above the 85 % healthy mark. Capex was just 0.5 % of revenue, well below the 4 % to 8 % range typical of the sector. Its fiscal 2025 operating margin of 9.5 % falls short of the 12 % benchmark. The P/E of 28.9 against a ten-year average of 22.2, and the EV/EBITDA of 20.2× against 13.6×, both sit above the 110 % line the sector uses to flag an expensive stock.

How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.