Expeditors International of Washington (EXPD) financial statements
Expeditors International of Washington reported revenue of $11.1B in fiscal 2025, up 6.8% a year over 9 years.
Net income was $810M and the operating margin 9.5%, against 11.0% in 2016.
Free cash flow was $953M, and the company returned $207M in dividends and $667M in net buybacks.
The diluted share count fell 25% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Expeditors International of Washington's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1B | $6.9B | $8.1B | $7.9B | $9.6B | $16.5B | $17.1B | $9.3B | $10.6B | $11.1B |
| Operating income | $670M | $700M | $797M | $767M | $940M | $1.9B | $1.8B | $940M | $1.0B | $1.1B |
| Interest expense | — | — | — | — | $219,000 | $411,000 | $23M | $5M | — | — |
| Pre-tax income | $687M | $719M | $818M | $796M | $957M | $1.9B | $1.8B | $1.0B | $1.1B | $1.1B |
| Income tax | $254M | $228M | $199M | $204M | $258M | $506M | $475M | $263M | $283M | $282M |
| Net income | $431M | $489M | $618M | $590M | $696M | $1.4B | $1.4B | $753M | $810M | $810M |
| EPS (diluted) | $2.36 | $2.69 | $3.48 | $3.39 | $4.07 | $8.27 | $8.26 | $5.01 | $5.72 | $5.95 |
| Diluted shares | 183M | 182M | 178M | 174M | 171M | 171M | 164M | 150M | 142M | 136M |
| Operating margin | 11.0% | 10.1% | 9.8% | 9.7% | 9.8% | 11.6% | 10.7% | 10.1% | 9.8% | 9.5% |
| Net margin | 7.1% | 7.1% | 7.6% | 7.4% | 7.3% | 8.6% | 8.0% | 8.1% | 7.6% | 7.3% |
Balance sheet
Fiscal years, from Expeditors International of Washington's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $974M | $1.1B | $924M | $1.2B | $1.5B | $1.7B | $2.0B | $1.5B | $1.1B | $1.3B |
| Receivables | $1.2B | $1.4B | $1.6B | $1.3B | $2.0B | $3.8B | $2.1B | $1.5B | $2.0B | $2.0B |
| Total current assets | $2.2B | $2.5B | $2.7B | $2.8B | $4.0B | $6.6B | $4.5B | $3.4B | $3.7B | $3.8B |
| Property, plant and equipment | $537M | $525M | $504M | $499M | $506M | $488M | $502M | $479M | $449M | $462M |
| Goodwill | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M |
| Total assets | $2.8B | $3.1B | $3.3B | $3.7B | $4.9B | $7.6B | $5.6B | $4.5B | $4.8B | $4.9B |
| Total current liabilities | $930M | $1.1B | $1.3B | $1.2B | $1.9B | $3.7B | $2.1B | $1.7B | $2.1B | $2.1B |
| Total liabilities | $944M | $1.1B | $1.3B | $1.5B | $2.3B | $4.1B | $2.5B | $2.1B | $2.5B | $2.5B |
| Shareholders' equity | $1.8B | $2.0B | $2.0B | $2.2B | $2.7B | $3.5B | $3.1B | $2.4B | $2.2B | $2.4B |
| Net debt | -$974M | -$1.1B | -$924M | -$1.2B | -$1.5B | -$1.7B | -$2.0B | -$1.5B | -$1.1B | -$1.3B |
Cash flow
Fiscal years, from Expeditors International of Washington's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $529M | $489M | $573M | $772M | $655M | $868M | $2.1B | $1.1B | $723M | $1.0B |
| Capital spending | $59M | $95M | $47M | $47M | $48M | $36M | $87M | $39M | $40M | $53M |
| Free cash flow | $470M | $394M | $525M | $725M | $607M | $832M | $2.0B | $1.0B | $683M | $953M |
| Stock-based compensation | $45M | $51M | $56M | $62M | $62M | $69M | $64M | $58M | $64M | $69M |
| Dividends paid | $145M | $150M | $157M | $171M | $175M | $196M | $214M | $202M | $204M | $207M |
| Share buybacks (net) | -$338M | -$478M | -$648M | -$389M | -$332M | -$515M | -$1.6B | -$1.4B | -$855M | -$667M |
| Free cash flow margin | 7.7% | 5.7% | 6.5% | 9.1% | 6.3% | 5.0% | 12.0% | 10.9% | 6.4% | 8.6% |
| Dividends per share | $0.79 | $0.83 | $0.88 | $0.98 | $1.02 | $1.14 | $1.30 | $1.35 | $1.44 | $1.52 |
Questions
What was Expeditors International of Washington's revenue in 2025?
$11.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Expeditors International of Washington generate?
$953M in fiscal 2025 (operating cash flow minus capital spending).
From Expeditors International of Washington's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.