EXPD vs LSTR: Expeditors International of Washington and Landstar System compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Expeditors International of Washington is the larger company, worth $25.5B, about 4.3 times Landstar System.
- Expeditors International of Washington grew revenue faster over the last year (+32.1% vs +1.6%).
- Expeditors International of Washington keeps more of each dollar of revenue as operating profit (9.8% vs 3.5%).
- On earnings, Expeditors International of Washington is the cheaper stock (31.5x vs 48.6x).
- Landstar System's price assumes faster free cash flow growth: about 9% a year, against 9% for Expeditors International of Washington (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | EXPD | LSTR |
|---|---|---|
| Market cap | $25.5B | $6.0B |
| Share price | $193.24 | $169.11 |
| Revenue (last fiscal year) | $11.1B | $4.7B |
| Free cash flow (last fiscal year) | $953M | $215M |
| Revenue growth, last year | +32.1% | +1.6% |
| Revenue growth per year, last 5 fiscal years | -9.5% | -7.7% |
| Operating margin | 9.8% | 3.5% |
| Net margin | 7.6% | 2.6% |
| Return on equity | 43.4% | 15.6% |
| P/E (trailing) | 31.5x | 48.6x |
| Price / free cash flow | 26.7x | 27.8x |
| EV / EBITDA | 19.5x | 26.8x |
| FCF growth the price implies | 8.8% | 9.3% |
| Dividend yield | 0.78% | 0.92% |
| Debt / equity | 1.42x | 1.01x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Expeditors International of Washington
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $16.5B | $832M | 11.6% |
| 2022 | $17.1B | $2.0B | 10.7% |
| 2023 | $9.3B | $1.0B | 10.1% |
| 2024 | $10.6B | $683M | 9.8% |
| 2025 | $11.1B | $953M | 9.5% |
Landstar System
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.5B | $253M | 7.7% |
| 2022 | $7.4B | $597M | 7.7% |
| 2023 | $5.3B | $368M | 6.5% |
| 2024 | $4.8B | $256M | 5.2% |
| 2025 | $4.7B | $215M | 3.2% |
Where the revenue comes from
Expeditors International of Washington · by products, 2025
Landstar System · by segments, 2025
Questions
Which is bigger, Expeditors International of Washington or Landstar System?
Expeditors International of Washington (EXPD), at $25.5B against $6.0B.
Is EXPD or LSTR cheaper?
By trailing P/E, Expeditors International of Washington (31.5x) is cheaper than Landstar System (48.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, EXPD or LSTR?
Expeditors International of Washington: revenue grew +32.1% over the last year, against +1.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.