EXPD
Expeditors International of Washington, Inc.Industrials·Integrated Freight & Logistics
$157.99
$20.7B market cap
Revenue
$5.6B
Free Cash Flow
$567.0M
Rev Growth
+0.0%
FCF Margin
10.1%
P/FCF
36.5x
EV/FCF
35.1x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 clea
2-Year Price History
$158.48+34.3%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 2,783 | 305.7 | 294.8 | 229.6 | 309.2 | 296.6 | -12.6 | 1,317 | 565.0 | 134.1 | 70.0% | -- | -- |
| Act | 2025-Q4 | 2,856 | 276.1 | 250.9 | 201.2 | 283.3 | 270.3 | -13.0 | 1,314 | 570.6 | 134.6 | 56.8% | -- | -- |
Valuation & Metrics
Market Stats
Price$157.99
Market Cap$20.7B
Enterprise Value$19.9B
P/S Ratio3.7x
P/FCF36.5x
EV/FCF35.1x
FCF Margin (TTM)10.1%
FCF Yield2.7%
Dividend Yield (TTM)1.5%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$5.6B
Net Income$430.8M
Free Cash Flow$567.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin10.3%
Net Margin7.6%
FCF Margin10.1%
CapEx % of Revenue0.5%
SBC % of Revenue0.4%
ROIC63.4%
WC Change % Rev-0.3%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares4.8M
Days to Cover4.8
Change (vs Prior)+11.2%
Need at least 2 settlement dates for chart
Employees
Headcount19,203
Revenue / Employee$293,648
Gross Profit / Employee$72,128
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
57.8%(+7.1% YoY)
879 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
30.2%(+3.3% YoY)
13 filers
Vanguard, iShares, SPDR
Market makers
0.3%(+0.1% YoY)
10 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $1.78B | $129.47 | +$76.6M | −$295M | -0.2% | $5.69T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $1.25B | $143.23 | +$1.25B | +$1.25B | — | $4.04T |
| STATE STREET CORPPassive | $1.03B | $111.38 | −$70.0M | −$40.0M | -0.2% | $2.89T |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $952M | $143.23 | +$952M | +$952M | — | $1.91T |
| First Eagle Investment Management, LLC | $852M | $114.31 | −$52.6M | +$83.6M | +0.7% | $58.96B |
| LOOMIS SAYLES & CO L P | $804M | $119.03 | −$11.1M | −$6.7M | -0.2% | $73.82B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $512M | $104.25 | +$14.8M | +$11.4M | +2.3% | $1.61T |
| FIL Ltd | $442M | $116.58 | −$211M | +$327M | +0.2% | $128.59B |
| Boston Partners | $420M | $108.18 | −$76.7M | −$195M | +0.5% | $95.40B |
| BANK OF AMERICA CORP /DE/ | $367M | $110.83 | −$11.1M | −$44.2M | -0.1% | $1.36T |
| Invesco Ltd. | $346M | $118.46 | +$47.1M | −$89.6M | -0.2% | $652.04B |
| Baird Financial Group, Inc. | $313M | $113.69 | +$13.8M | +$48.2M | -0.2% | $63.96B |
| MORGAN STANLEY | $305M | $107.88 | +$20.9M | +$10.0M | -0.3% | $1.65T |
| UBS ASSET MANAGEMENT AMERICAS INC | $281M | $118.67 | +$13.1M | −$44.0M | -0.3% | $480.58B |
| MARSHFIELD ASSOCIATES | $280M | $117.05 | −$14.3M | +$15.9M | +0.7% | $4.99B |
| NORTHERN TRUST CORPPassive | $263M | $108.44 | +$1.2M | −$63.1M | -0.2% | $755.34B |
| DIMENSIONAL FUND ADVISORS LPPassive | $218M | $117.42 | +$5.4M | +$23.3M | -0.4% | $480.92B |
| FMR LLC | $217M | $121.60 | +$778K | +$132M | -0.0% | $1.89T |
| ROYAL BANK OF CANADA | $213M | $109.52 | −$1.7M | +$63.5M | -0.2% | $526.36B |
| Amundi | $198M | $118.84 | +$58.0M | +$16.2M | -0.2% | $366.88B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.09%
avg per quarter
Holders (ex-self)
-0.09%
excl. this stock
Buyers (this Q)
-0.10%
302 buyers · $3.56B in
Sellers (this Q)
-0.04%
339 sellers · $2.13B out
alpha coverage: 87% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-0.2%
how holders react when this stock falls
On quiet Qs
-5.1%
−10% to +10% baseline
On rallies (+10%+)
-11.5%
how they react when this stock rises
Holders' portfolio flow this Q
+2.8%
inflows — adds are organic
Sellers' portfolio flow this Q
-0.1%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.2%
Holder mid (any stock)
-1.6%
Holder rally (any stock)
-2.4%
Biggest decreases this quarter
FIL Ltd−$211Mα+0.2Southpoint Capital Advisors LPexited−$201MBoston Partners−$76.7Mα+0.5STATE STREET CORP−$70.0Mα-0.2COATUE MANAGEMENT LLCexited−$54.5MPacer Advisors, Inc.exited−$53.9MFirst Eagle Investment Management, LLC−$52.6Mα+0.7LORD, ABBETT & CO. LLCexited−$23.8MBLS CAPITAL FONDSMAEGLERSELSKAB A/Sexited−$20.7MMARSHFIELD ASSOCIATES−$14.3Mα+0.7
New buyers this quarter
Top-5 holders · 32.3%
BlackRock, Inc.--
VANGUARD CAPITAL MANAGEMENT LLC--
STATE STREET CORP--
VANGUARD PORTFOLIO MANAGEMENT LLC--
First Eagle Investment Management, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
LOOMIS SAYLES & CO L P5.6MFirst Eagle Investment Management, LLC5.9MFIL Ltd3.1MBANK OF AMERICA CORP /DE/2.6MBoston Partners2.9MInvesco Ltd.2.4MWELLINGTON MANAGEMENT GROUP LLP956KFIRST TRUST ADVISORS LP169KUBS ASSET MANAGEMENT AMERICAS INC2.0MBaird Financial Group, Inc.2.2M
Related Stocks
Investors who own this also own
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| Ticker | Name | Co-holders | Score |
|---|---|---|---|
| FAST | Fastenal Company | 8 | 46.34× |
| EOG | EOG Resources, Inc. | 4 | 20.69× |
| ROST | Ross Stores, Inc. | 3 | 17.38× |
| ORLY | O'Reilly Automotive, Inc. | 4 | 14.66× |
| SHW | The Sherwin-Williams Company | 3 | 13.79× |
| PGR | The Progressive Corporation | 3 | 9.05× |
| SYK | Stryker Corporation | 4 | 8.34× |
| APH | Amphenol Corporation | 4 | 8.22× |
| SPGI | S&P Global Inc. | 3 | 6.16× |
| KLAC | KLA Corporation | 3 | 5.43× |
| PEP | PepsiCo, Inc. | 3 | 4.39× |
| MA | Mastercard Incorporated | 6 | 4.00× |
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (5 analysts)$156.40-100.0%
Last Year (16 analysts)$141.19-1060.0%
Current Price$157.99
Analyst Ratings
4
20
9
Buy: 4Hold: 20Sell: 9Consensus: Hold
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$6.40M
8 txns · 5 insiders · 49,421 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-02-27 | SELL | Bell Blake R | officer: President Global Business Dev | 10,351 | $144.08 | $1.49M | $8.25M |
| 2026-02-27 | SELL | Wall Daniel R | officer: President and CEO | 6,100 | $145.07 | $885K | $8.78M |
| 2025-11-07 | SELL | Emmert Mark A | director | 5,400 | $135.25 | $730K | $875K |
| 2025-11-05 | SELL | Dickerman Jeffrey F | officer: Senior VP/Gen Counsel/Corp Sec | 1,500 | $134.17 | $201K | $825K |
| 2025-09-05 | SELL | Carlile Robert Paul | director | 2,500 | $120.51 | $301K | $1.09M |
| 2025-08-19 | SELL | Emmert Mark A | director | 4,100 | $121.26 | $497K | $1.44M |
| 2025-08-07 | SELL | Dickerman Jeffrey F | officer: Senior VP/Gen Counsel/Corp Sec | 1,470 | $118.05 | $174K | $903K |
| 2025-08-06 | SELL | Bell Blake R | officer: President Global Business Dev | 18,000 | $117.89 | $2.12M | $6.75M |
Order Flow (FINRA, ~3w lag)
7.0%retail-3.2pp
30.9%dark+3.4pp
week of 2026-04-27
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Expeditors International: The Buyback Machine Masking Margin Compression
Overall Risk
3/10
Fraud
2/10
Dilution
1/10
Insolvency
1/10
Earnings Overstated
3/10
Hidden Liabilities
4/10
Legal
3/10
Audit Warnings
1/10
Hidden Upside
7/10
Contextually Acceptable
9/10