Expeditors International of Washington Inc Stock Research

Market Summary

USD107.35+1.66

Market Closed

1.57%

EXPD Alerts

1 major insider sales recently.
Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

EXPD Stock Price

EXPD RSI Chart

EXPD Valuation

Market Cap

16.6B

Price/Earnings (Trailing)

12.2

Price/Sales (Trailing)

0.97

EV/EBITDA

7.68

Price/Free Cashflow

7.78

EXPD Price/Sales (Trailing)

EXPD Profitability

EBT Margin

10.75%

Return on Equity

43.6%

Return on Assets

24.28%

Free Cashflow Yield

12.86%

EXPD Fundamentals

EXPD Revenue

Revenue (TTM)

17.1B

Revenue Y/Y

-36.22%

Revenue Q/Q

-21.1%

EXPD Earnings

Earnings (TTM)

1.4B

Earnings Y/Y

-51.58%

Earnings Q/Q

-47.06%

Price Action

52 Week Range

86.08119.90

(Low)(High)

Last 7 days

-4.7%

Last 30 days

-6.3%

Last 90 days

-3.3%

Trailing 12 Months

6.9%

EXPD Financial Health

Current Ratio

2.2

EXPD Investor Care

Dividend Yield

1.29%

Dividend/Share (TTM)

1.16

Buy Backs (1Y)

7.71%

Diluted EPS (TTM)

8.26

Peers (Alternatives to Expeditors International of Washington)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
FDX	53.1B	94.1B	-7.73%	-9.22%	15.93	0.56	5.07%	-32.20%
DAL	24.5B	50.6B	-13.91%	-4.68%	298.7	0.53	69.18%	370.71%
LUV	18.1B	23.8B	-15.23%	-29.32%	18.91	0.76	50.82%	-2.15%
EXPD	16.6B	17.1B	-6.34%	6.88%	12.2	0.97	3.32%	-4.10%
CHRW	11.4B	24.7B	-6.04%	-0.45%	12.15	0.46	6.90%	11.40%
MID-CAP
XPO	3.8B	7.7B	-9.52%	-53.52%	5.74	0.5	7.16%	95.31%
AAWW	2.9B	4.5B	0.24%	21.66%	8.22	0.64	12.86%	-27.86%
FWRD	2.8B	2.0B	1.46%	3.83%	14.51	1.42	18.71%	82.50%
JBLU	2.3B	9.2B	-18.97%	-49.38%	-6.41	0.25	51.67%	-98.90%
SMALL-CAP
SAVE	1.9B	5.1B	-12.90%	-19.64%	-3.36	0.37	56.88%	-17.26%
ATSG	1.5B	2.0B	-17.79%	-34.57%	7.55	0.73	17.94%	-14.19%
RLGT	299.2M	727.6M	-5.60%	-14.85%	7.3	0.22	-19.14%	92.40%
AIRT	59.3M	224.4M	-8.70%	0.43%	-23.56	0.26	30.18%	-139.59%
HUBG	2.8M	5.3B	-14.06%	5.83%	0.01	5e-4	26.18%	108.16%

Financials for Expeditors International of Washington

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-10.3%	17,071	19,026	18,983	17,989	16,524
S&GA Expenses	11.8%	24.00	22.00	20.00	17.00	16.00
Costs and Expenses	-9.8%	15,247	16,908	16,902	16,003	14,614
EBITDA	-13.8%	1,893	2,196	2,152	2,057	-
EBITDA Margin	-3.9%	0.11*	0.12*	0.11*	0.11*	-
Earnings Before Taxes	-14.2%	1,836	2,141	2,099	2,005	1,925
EBT Margin	-4.4%	0.11*	0.11*	0.11*	0.11*	-
Net Income	-14.7%	1,357	1,591	1,536	1,474	1,415
Net Income Margin	-4.9%	0.08*	0.08*	0.08*	0.08*	-
Free Cahsflow	9.3%	2,130	1,948	1,455	927	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-15.4%	5,590	6,608	7,361	7,956	7,610
Current Assets	-19.1%	4,518	5,588	6,330	6,963	6,635
Cash Equivalents	-5.6%	2,034	2,155	1,977	2,140	1,729
Net PPE	4.4%	502	481	495	504	488
Goodwill	0%	8.00	8.00	8.00	8.00	8.00
Current Liabilities	-24.1%	2,054	2,706	3,411	3,722	3,726
Shareholder's Equity	-10.6%	3,114	3,482	3,535	3,849	3,494
Retained Earnings	-11.4%	3,311	3,739	3,717	3,966	3,620
Additional Paid-In Capital	17.8%	0.00	0.00	0.00	13.00	3.00
Accumulated Depreciation	3.5%	568	549	554	553	542
Shares Outstanding	-3.0%	154	159	163	167	167
Minority Interest	-61.9%	4.00	9.00	10.00	6.00	4.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	9.3%	2,130	1,948	1,455	927	868
Share Based Compensation	1.6%	64.00	63.00	64.00	70.00	69.00
Cashflow From Investing	-8.4%	-87.71	-80.93	-74.44	-42.55	-36.65
Cashflow From Financing	-18.0%	-1,684	-1,427	-1,012	-528	-613
Dividend Payments	-22.6%	214	276	276	196	-
Buy Backs	21.0%	1,582	1,308	915	429	515

Risks for EXPD

What is the probability of a big loss on EXPD?

41.5%

Probability that Expeditors International of Washington stock will be more than 20% underwater in next one year

7.3%

Probability that Expeditors International of Washington stock will be more than 30% underwater in next one year.

Probability that Expeditors International of Washington stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does EXPD drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Expeditors International of Washington was unfortunately bought at previous high price.

Drawdowns

Returns for EXPD

Cumulative Returns on EXPD

12.1%

10-Year Cumulative Returns

13.3%

7-Year Cumulative Returns

11.7%

5-Year Cumulative Returns

18.6%

3-Year Cumulative Returns

What are the long-term rolling returns for EXPD?

FIve years rolling returns for Expeditors International of Washington.

Annualized Returns

Which funds bought or sold EXPD recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-7.47	18,377	243,377	0.01%
2023-03-13	Claro Advisors LLC	added	32.72	118,665	404,665	0.13%
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	2,119	11,119	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	119	13,452,000	21,950,000	0.02%
2023-03-07	Investure, LLC	unchanged	-	404,252	2,691,220	0.53%
2023-03-06	Rockefeller Capital Management L.P.	added	2.04	220,000	1,325,000	0.01%
2023-02-28	Voya Investment Management LLC	reduced	-1.13	1,085,330	7,723,330	0.01%
2023-02-24	National Pension Service	reduced	-2.14	3,104,880	28,115,800	0.06%
2023-02-24	NATIXIS	reduced	-94.42	-931,634	65,366	-%
2023-02-24	SRS Capital Advisors, Inc.	new	-	416	416	-%

Latest Funds Activity

Are funds buying EXPD calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own EXPD

No. of Funds

Expeditors International of Washington News

Schedule 13G FIlings of Expeditors International of Washington

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	loomis sayles & co l p	4.25%	6,767,693	SC 13G/A
Feb 09, 2023	vanguard group inc	11.97%	19,052,121	SC 13G/A
Feb 08, 2023	state street corp	5.72%	9,110,000	SC 13G/A
Jan 26, 2023	blackrock inc.	13.0%	20,658,607	SC 13G/A
Jan 20, 2023	blackrock inc.	13.0%	20,658,607	SC 13G/A
Feb 14, 2022	loomis sayles & co l p	6.00%	10,165,441	SC 13G/A
Feb 11, 2022	state street corp	5.49%	9,300,226	SC 13G/A
Feb 10, 2022	vanguard group inc	11.50%	19,485,313	SC 13G/A
Jan 27, 2022	blackrock inc.	13.5%	22,923,231	SC 13G/A
Jan 25, 2022	blackrock inc.	13.5%	22,923,231	SC 13G/A

EXPD Fair Value

Expeditors International of Washington fair value in different scenarios

The table shows the Fair Value estimates for Expeditors International of Washington for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	172.87 61.03%	227.01 111.47%	326.29 203.95%	636.77 493.17%	859.53 700.68%
Current Inflation	157.06 46.31%	202.99 89.09%	286.06 166.47%	547.69 410.19%	732.96 582.78%
Very High Inflation	137.73 28.30%	174.23 62.30%	239.06 122.69%	445.55 315.04%	589.16 448.82%

Historical Expeditors International of Washington Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Expeditors International of Washington

View All Filings

Date Filed	Form Type	Document
Mar 09, 2023	4	Insider Trading
Mar 08, 2023	144	Notice of Insider Sale Intent
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading

Latest Insider Trading transactions for EXPD

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-08	Musser Jeffrey S	acquired	353,200	35.32	10,000	president and ceo
2023-03-08	Musser Jeffrey S	sold	-1,097,590	109	-10,000	president and ceo
2023-03-02	Wall Daniel R	acquired	-	-	13,808	president, global services
2023-03-02	Dickerman Jeffrey F	sold (taxes)	-254,071	105	-2,411	senior vp/gen counsel/corp sec
2023-03-02	Clark Benjamin G.	acquired	-	-	6,125	svp - chief strategy officer
2023-03-02	Dickerman Jeffrey F	acquired	-	-	6,125	senior vp/gen counsel/corp sec
2023-03-02	Rostan Richard H	acquired	-	-	12,224	president - global geographies
2023-03-02	Rostan Richard H	sold (taxes)	-506,983	105	-4,811	president - global geographies
2023-03-02	Bell Blake R	sold (taxes)	-203,067	105	-1,927	president, global products
2023-03-02	Wall Daniel R	sold (taxes)	-572,635	105	-5,434	president, global services

About Expeditors International of Washington

Jeffrey S. Musser

www.expeditors.com

19100

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 forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, 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 supply chain solutions. It also provides optimization, trade compliance, consulting, cargo security, and solutions. In addition, it acts as a freight consolidator or as an agent for the airline, which carries the shipment. Further, the company provides ancillary services that include preparation of shipping and customs documentation, packing, crating, insurance services, negotiation of letters of credit, and the preparation of documentation to comply with local export laws. Its customers include retailing and wholesaling, electronics, technology, and industrial and manufacturing companies. Expeditors International of Washington, Inc. was incorporated in 1979 and is headquartered in Seattle, Washington.

EXPD Income Statement

2022-12-31

Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenues:

Revenue from Contract with Customer, Excluding Assessed Tax

$ 17,071,284

$ 16,523,517

$ 9,584,393

Operating Expenses:

Directly related cost of transportation and other expenses

^[1]

12,576,897

12,058,155

6,656,702

Salaries and related costs

2,056,387

2,062,351

1,538,104

Rent and occupancy costs

209,532

186,287

169,863

Depreciation and amortization

57,338

51,312

56,959

Selling and promotion

24,293

16,026

18,436

Other

322,466

240,060

203,892

Total operating expenses

15,246,913

14,614,191

8,643,956

Operating income

1,824,371

1,909,326

940,437

Other Income (Expense):

Interest income

25,554

8,807

10,415

Interest expense

(23,277)

(411)

(219)

Other, net

9,243

6,894

5,931

Other income, net

11,520

15,290

16,127

Earnings before income taxes

1,835,891

1,924,616

956,564

Income tax expense

475,286

505,771

258,350

Net earnings

1,360,605

1,418,845

698,214

Less net earnings attributable to the noncontrolling interest

3,206

3,353

2,074

Net earnings attributable to shareholders

$ 1,357,399

$ 1,415,492

$ 696,140

Diluted earnings attributable to shareholders per share

$ 8.26

$ 8.27

$ 4.07

Basic earnings attributable to shareholders per share

$ 8.33

$ 8.37

$ 4.14

Weighted average diluted shares outstanding

164,427

171,250

170,896

Weighted average basic shares outstanding

163,010

169,145

168,333

Airfreight services

Revenues:

Revenue from Contract with Customer, Excluding Assessed Tax

$ 5,886,886

$ 6,771,402

$ 4,274,026

Operating Expenses:

Directly related cost of transportation and other expenses

4,359,726

5,067,380

3,168,808

Ocean freight and ocean services

Revenues:

Revenue from Contract with Customer, Excluding Assessed Tax

6,544,559

5,545,818

2,342,344

Operating Expenses:

Directly related cost of transportation and other expenses

5,188,066

4,364,160

1,751,850

Customs brokerage and other services

Revenues:

Revenue from Contract with Customer, Excluding Assessed Tax

4,639,839

4,206,297

2,968,023

Operating Expenses:

Directly related cost of transportation and other expenses

$ 3,029,105

$ 2,626,615

$ 1,736,044

[1]	Directly related cost of transportation and other expenses totals operating expenses from airfreight services, ocean freight and ocean services and customs brokerage and other services as shown in the consolidated statements of earnings.

EXPD Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 2,034,131	$ 1,728,692
Accounts receivable, net	2,107,645	3,810,286
Deferred contract costs	257,545	987,266
Other	118,696	108,801
Total current assets	4,518,017	6,635,045
Property and equipment, net	501,916	487,870
Operating lease right-of-use assets	507,503	459,158
Goodwill	7,927	7,927
Deferred federal and state income taxes, net	37,449	729
Other assets, net	17,622	19,200
Total assets	5,590,434	7,609,929
Current Liabilities:
Accounts payable	1,108,996	2,012,461
Accrued expenses, primarily salaries and related costs	479,262	403,625
Contract liabilities	323,101	1,142,026
Current portion of operating lease liabilities	95,621	82,019
Federal, state and foreign income taxes	47,075	86,166
Total current liabilities	2,054,055	3,726,297
Noncurrent portion of operating lease liabilities	422,844	385,641
Commitments and contingencies
Shareholders’ Equity:
Preferred stock, par value $0.01 per share, authorized 2,000 shares; none issued	0	0
Common stock, par value $0.01 per share, authorized 640,000. Issued and outstanding: 154,313 shares and 167,210 shares at December 31, 2022 and 2021, respectively	1,543	1,672
Additional paid-in capital	139	3,160
Retained earnings	3,310,892	3,620,008
Accumulated other comprehensive loss	(202,553)	(130,414)
Total shareholders’ equity	3,110,021	3,494,426
Noncontrolling interest	3,514	3,565
Total equity	3,113,535	3,497,991
Total liabilities and equity	$ 5,590,434	$ 7,609,929