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Non-asset-based freight forwarder arranging air and ocean cargo shipping, customs brokerage and logistics for global shippers.
Non-asset-based freight forwarder arranging air and ocean cargo shipping, customs brokerage and logistics for global shippers.
Buys air and ocean capacity from carriers and resells it with customs clearance and handling, earning the difference, so volumes and the gap between buy and sell rates drive profit. Branch managers' pay is tied to their own branch's profit, a long-running feature of its culture.
Moat: narrow (scale, distribution, data). Global carrier relationships, IT systems and branch network give scale/service advantages without owning assets.
Headquarters: Seattle, Washington, US · Founded: 1979 · Employees: 19,800
Size Expeditors International (EXPD) is a United States Industrials company (Air Freight/Couriers) with a market value of $24.0B, the 439th largest of 3,117 United States companies the cockpit tracks. Shares closed at $184.61 on 6 Nov 2026.
Performance Over six months the shares gained 17.8%, against -2.6% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 18.6% over the last twelve months (peer median +10.4%); the operating margin is 10.2% (peer median 6.7%).
Valuation It trades at 21.1× forward earnings against a peer median of 15.3× (3rd most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 48.2 points above its cost of capital (10.1% WACC).
Short interest Short interest is 3.6% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.2B | $11.1B | $10.6B | $9.30B | $17.1B |
| Revenue growth | — | +4% | +14% | -46% | — |
| Gross profit | $1.99B | $1.72B | $1.58B | $1.48B | $2.38B |
| EBITDA | $1.40B | $1.14B | $1.09B | $1.01B | $1.88B |
| Net income | $1.04B | $810M | $810M | $753M | $1.36B |
| Free cash flow | $928M | $953M | $683M | $1.01B | $2.04B |
| Capital expenditure | $55.9M | $53.1M | $40.5M | $39.3M | $86.8M |
| Total debt | $576M | $571M | $569M | $528M | $518M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Expeditors International EXPD | $24.0B | +18% | +19% | 10% | 21.1× | 8.9% |
| Dsv A/s DSV.CO | $51.5B | -3% | +37% | 8% | 23.5× | 3.9% |
| Kuehne & Nagel International KNIN.SW | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% |
| C.H. Robinson CHRW | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% |
| Deutsche Post DHL.DE | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EXPD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.7% | +5.6% | 3rd lowest of 21 |
| 6-month return | +17.8% | -2.6% | 5th highest of 20 |
| Distance from 52-week high | -11.2% | -16.9% | 8th highest of 21 |
| Revenue growth (TTM) | +18.6% | +10.4% | 6th highest of 21 |
| Operating margin | 10.2% | 6.7% | 6th highest of 21 |
| Forward P/E | 21.1× | 15.3× | 3rd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 8.9% | 3.6% | 5th most demanding of 19 |
| Growth delivered (Del g) | +2.9% | +10.4% | 6th lowest of 19 |
| Hurdle (Req g minus delivered) | +6.0 pp | -6.8 pp | 3rd most demanding of 19 |
| ROIC minus cost of capital | +48.2 pp | +2.7 pp | highest of 21 |
| EV / EBITDA | 16.7× | 9.0× | 2nd most expensive of 13 |
| Net debt / EBITDA | -0.4× | 2.1× | 3rd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Expeditors International EXPD | United States | $24.0B | +18% | +19% | 10% | 21.1× | 8.9% | +2.9% |
| S.F 6936.HK | Hong Kong | $23.9B | -12% | +11% | 5% | 12.5× | -11.4% | +14.1% |
| S.F 002352.SZ | China | $23.9B | -7% | +6% | 5% | 15.9× | -12.9% | +14.9% |
| Brambles BXB.AX | Australia | $20.4B | +2% | +1% | 17% | 20.8× | 8.9% | +8.3% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 20% | 10.2× | -1.6% | +13.5% |
| C.H. Robinson CHRW | United States | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% | 0.0% |
| Grab GRAB | United States | $13.9B | -8% | +23% | 11% | 23.3× | 17.8% | +48.4% |
| Poste Italiane PST.MI | Italy | $43.9B | +1% | +11% | 14% | 13.5× | 17.6% | -6.8% |
| Delivery Hero SE TEMP DHE1.DE | Germany | $12.9B | n/a | +11% | 0% | n/a | n/a | n/a |
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | n/a | n/a | n/a |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 18.6× | -3.8% | +51.4% |
| Dsv A/s DSV.CO | Denmark | $51.5B | -3% | +37% | 8% | 23.5× | 3.9% | +16.3% |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 8.7× | -10.8% | +12.3% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% | +8.5% |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% | +16.6% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| FedEx FDX | United States | $72.2B | +1% | +8% | 7% | 15.4× | 8.3% | +2.5% |
| Deutsche Post DHL.DE | Germany | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% | +4.4% |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| Sinotrans 601598.SS | China | $6.74B | +18% | -1% | 0% | 14.8× | 4.3% | +2.7% |