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EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

EXPD · CIK 0000746515

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$11.07B4.4%
FY2025
Net income (FY)
$810.3M0.0%
FY2025
Free cash flow (FY)
$953.4M39.6%
FY2025
Diluted EPS (FY)
$5.954.0%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2007 · Revenue $5.24B · Net income $269.2M · 0001193125-10-042974 · filed 2010-02-26FY07Revenue $5.24BNet income $269.2M0001193125-10-042974 · filed 2010-02-26FY2008 · Revenue $5.63B · Net income $301.0M · 0001193125-11-049764 · filed 2011-02-28FY08Revenue $5.63BNet income $301.0M0001193125-11-049764 · filed 2011-02-28FY2009 · Revenue $4.09B · Net income $240.2M · 0000746515-12-000006 · filed 2012-02-28FY09Revenue $4.09BNet income $240.2M0000746515-12-000006 · filed 2012-02-28FY2010 · Revenue $5.97B · Net income $344.2M · 0000746515-13-000004 · filed 2013-02-27FY10Revenue $5.97BNet income $344.2M0000746515-13-000004 · filed 2013-02-27FY2011 · Revenue $6.16B · Net income $385.7M · 0000746515-14-000004 · filed 2014-02-27FY11Revenue $6.16BNet income $385.7M0000746515-14-000004 · filed 2014-02-27FY2012 · Revenue $5.99B · Net income $333.4M · 0000746515-15-000004 · filed 2015-02-26FY12Revenue $5.99BNet income $333.4M0000746515-15-000004 · filed 2015-02-26FY2013 · Revenue $6.08B · Net income $348.5M · 0000746515-16-000053 · filed 2016-02-25FY13Revenue $6.08BNet income $348.5M0000746515-16-000053 · filed 2016-02-25FY2014 · Revenue $6.56B · Net income $376.9M · 0000746515-17-000007 · filed 2017-02-23FY14Revenue $6.56BNet income $376.9M0000746515-17-000007 · filed 2017-02-23FY2015 · Revenue $6.62B · Net income $457.2M · 0000746515-18-000004 · filed 2018-02-23FY15Revenue $6.62BNet income $457.2M0000746515-18-000004 · filed 2018-02-23FY2016 · Revenue $6.10B · Net income $430.8M · 0000746515-19-000004 · filed 2019-02-22FY16Revenue $6.10BNet income $430.8M0000746515-19-000004 · filed 2019-02-22FY2017 · Revenue $6.92B · Net income $489.3M · 0001564590-20-005719 · filed 2020-02-21FY17Revenue $6.92BNet income $489.3M0001564590-20-005719 · filed 2020-02-21FY2018 · Revenue $8.14B · Net income $618.2M · 0001564590-21-006925 · filed 2021-02-19FY18Revenue $8.14BNet income $618.2M0001564590-21-006925 · filed 2021-02-19FY2019 · Revenue $7.94B · Net income $590.4M · 0001564590-22-010381 · filed 2022-03-15FY19Revenue $7.94BNet income $590.4M0001564590-22-010381 · filed 2022-03-15FY2020 · Revenue $9.58B · Net income $696.1M · 0000950170-23-005412 · filed 2023-03-01FY20Revenue $9.58BNet income $696.1M0000950170-23-005412 · filed 2023-03-01FY2021 · Revenue $16.52B · Net income $1.42B · 0000950170-24-019394 · filed 2024-02-23FY21Revenue $16.52BNet income $1.42B0000950170-24-019394 · filed 2024-02-23FY2022 · Revenue $17.07B · Net income $1.36B · 0000950170-25-024750 · filed 2025-02-21FY22Revenue $17.07BNet income $1.36B0000950170-25-024750 · filed 2025-02-21FY2023 · Revenue $9.30B · Net income $752.9M · 0001193125-26-071569 · filed 2026-02-25FY23Revenue $9.30BNet income $752.9M0001193125-26-071569 · filed 2026-02-25FY2024 · Revenue $10.60B · Net income $810.1M · 0001193125-26-071569 · filed 2026-02-25FY24Revenue $10.60BNet income $810.1M0001193125-26-071569 · filed 2026-02-25FY2025 · Revenue $11.07B · Net income $810.3M · 0001193125-26-071569 · filed 2026-02-25FY25Revenue $11.07BNet income $810.3M0001193125-26-071569 · filed 2026-02-25FY25Revenue $11.07BNet income $810.3M0001193125-26-071569 · filed 2026-02-25FY07FY10FY13FY16FY19FY22FY25

revenue 2.1× since FY2007 · net margin 5.1% → 7.3%

MarginsNet marginFCF margin
0%5%10%FY2007 · Net margin 5.1% · FCF margin 4.4%FY07Net margin 5.1%FCF margin 4.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 5.3% · FCF margin 6.2%FY08Net margin 5.3%FCF margin 6.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 5.9% · FCF margin 7.2%FY09Net margin 5.9%FCF margin 7.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 5.8% · FCF margin 5.9%FY10Net margin 5.8%FCF margin 5.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 6.3% · FCF margin 6.2%FY11Net margin 6.3%FCF margin 6.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 5.6% · FCF margin 5.4%FY12Net margin 5.6%FCF margin 5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 5.7% · FCF margin 5.8%FY13Net margin 5.7%FCF margin 5.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 5.7% · FCF margin 5.4%FY14Net margin 5.7%FCF margin 5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 6.9% · FCF margin 7.9%FY15Net margin 6.9%FCF margin 7.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 7.1% · FCF margin 7.7%FY16Net margin 7.1%FCF margin 7.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 7.1% · FCF margin 5.7%FY17Net margin 7.1%FCF margin 5.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 7.6% · FCF margin 6.5%FY18Net margin 7.6%FCF margin 6.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 7.4% · FCF margin 9.1%FY19Net margin 7.4%FCF margin 9.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 7.3% · FCF margin 6.3%FY20Net margin 7.3%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 8.6% · FCF margin 5.0%FY21Net margin 8.6%FCF margin 5.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 8.0% · FCF margin 12.0%FY22Net margin 8.0%FCF margin 12.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 8.1% · FCF margin 10.9%FY23Net margin 8.1%FCF margin 10.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 7.6% · FCF margin 6.4%FY24Net margin 7.6%FCF margin 6.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 7.3% · FCF margin 8.6%FY25Net margin 7.3%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 7.3%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 7.3% · free cash flow 8.6% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2007 · OCF $312.6M · FCF $229.8M · 0001193125-10-042974 · filed 2010-02-26FY07OCF $312.6MFCF $229.8M0001193125-10-042974 · filed 2010-02-26FY2008 · OCF $409.0M · FCF $349.2M · 0001193125-11-049764 · filed 2011-02-28FY08OCF $409.0MFCF $349.2M0001193125-11-049764 · filed 2011-02-28FY2009 · OCF $330.8M · FCF $296.1M · 0000746515-12-000006 · filed 2012-02-28FY09OCF $330.8MFCF $296.1M0000746515-12-000006 · filed 2012-02-28FY2010 · OCF $395.5M · FCF $353.1M · 0000746515-13-000004 · filed 2013-02-27FY10OCF $395.5MFCF $353.1M0000746515-13-000004 · filed 2013-02-27FY2011 · OCF $457.1M · FCF $379.0M · 0000746515-14-000004 · filed 2014-02-27FY11OCF $457.1MFCF $379.0M0000746515-14-000004 · filed 2014-02-27FY2012 · OCF $370.1M · FCF $322.5M · 0000746515-15-000004 · filed 2015-02-26FY12OCF $370.1MFCF $322.5M0000746515-15-000004 · filed 2015-02-26FY2013 · OCF $407.5M · FCF $354.1M · 0000746515-16-000053 · filed 2016-02-25FY13OCF $407.5MFCF $354.1M0000746515-16-000053 · filed 2016-02-25FY2014 · OCF $395.0M · FCF $357.5M · 0000746515-17-000007 · filed 2017-02-23FY14OCF $395.0MFCF $357.5M0000746515-17-000007 · filed 2017-02-23FY2015 · OCF $566.6M · FCF $522.2M · 0000746515-18-000004 · filed 2018-02-23FY15OCF $566.6MFCF $522.2M0000746515-18-000004 · filed 2018-02-23FY2016 · OCF $529.5M · FCF $470.2M · 0000746515-19-000004 · filed 2019-02-22FY16OCF $529.5MFCF $470.2M0000746515-19-000004 · filed 2019-02-22FY2017 · OCF $488.6M · FCF $393.6M · 0001564590-20-005719 · filed 2020-02-21FY17OCF $488.6MFCF $393.6M0001564590-20-005719 · filed 2020-02-21FY2018 · OCF $572.8M · FCF $525.3M · 0001564590-21-006925 · filed 2021-02-19FY18OCF $572.8MFCF $525.3M0001564590-21-006925 · filed 2021-02-19FY2019 · OCF $771.7M · FCF $724.7M · 0001564590-22-010381 · filed 2022-03-15FY19OCF $771.7MFCF $724.7M0001564590-22-010381 · filed 2022-03-15FY2020 · OCF $655.0M · FCF $607.4M · 0000950170-23-005412 · filed 2023-03-01FY20OCF $655.0MFCF $607.4M0000950170-23-005412 · filed 2023-03-01FY2021 · OCF $868.5M · FCF $832.2M · 0000950170-24-019394 · filed 2024-02-23FY21OCF $868.5MFCF $832.2M0000950170-24-019394 · filed 2024-02-23FY2022 · OCF $2.13B · FCF $2.04B · 0000950170-25-024750 · filed 2025-02-21FY22OCF $2.13BFCF $2.04B0000950170-25-024750 · filed 2025-02-21FY2023 · OCF $1.05B · FCF $1.01B · 0001193125-26-071569 · filed 2026-02-25FY23OCF $1.05BFCF $1.01B0001193125-26-071569 · filed 2026-02-25FY2024 · OCF $723.4M · FCF $682.9M · 0001193125-26-071569 · filed 2026-02-25FY24OCF $723.4MFCF $682.9M0001193125-26-071569 · filed 2026-02-25FY2025 · OCF $1.01B · FCF $953.4M · 0001193125-26-071569 · filed 2026-02-25FY25OCF $1.01BFCF $953.4M0001193125-26-071569 · filed 2026-02-25FY25OCF $1.01BFCF $953.4M0001193125-26-071569 · filed 2026-02-25’09’13’17’21’25

FY2025: $1.01B operating cash − $53.1M capex = $953.4M free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%40%FY2008 · ROE 22.0% · ROA 14.3%FY08ROE 22.0%ROA 14.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 15.5% · ROA 10.3%FY09ROE 15.5%ROA 10.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 19.8% · ROA 12.8%FY10ROE 19.8%ROA 12.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 19.2% · ROA 13.5%FY11ROE 19.2%ROA 13.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 16.4% · ROA 11.3%FY12ROE 16.4%ROA 11.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 16.7% · ROA 11.6%FY13ROE 16.7%ROA 11.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 20.2% · ROA 13.0%FY14ROE 20.2%ROA 13.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 27.0% · ROA 17.8%FY15ROE 27.0%ROA 17.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 23.4% · ROA 15.4%FY16ROE 23.4%ROA 15.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 24.6% · ROA 15.7%FY17ROE 24.6%ROA 15.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 31.1% · ROA 18.7%FY18ROE 31.1%ROA 18.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 26.9% · ROA 16.0%FY19ROE 26.9%ROA 16.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 26.2% · ROA 14.1%FY20ROE 26.2%ROA 14.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 40.5% · ROA 18.6%FY21ROE 40.5%ROA 18.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 43.6% · ROA 24.3%FY22ROE 43.6%ROA 24.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 31.5% · ROA 16.6%FY23ROE 31.5%ROA 16.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 36.4% · ROA 17.0%FY24ROE 36.4%ROA 17.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 34.4% · ROA 16.6%FY25ROE 34.4%ROA 16.6%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 34.4%ROA 16.6%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 22% (FY2008) → 34% (FY2025) · on assets 16.6%

The receipts