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Arphra AIPlain-English read on Expeditors International of Washington, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
ATop tier
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin15.3%
Operating margin9.5%
Net margin7.4%
ROE34.5%
ROA16.6%
ROIC37.7%
Liquidity & leverage
Current ratio1.81×
Quick ratio1.81×
Debt / equity0.44×
Net debt / EBITDA-0.25×
Interest coverage—
Efficiency & per-share
Asset turnover2.26×
Inventory days0
Days sales out.67
FCF / share$7.00
Book value / share$17.31
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | $15.62B | $20.24B | — | — | — |
| Enterprise value | — | — | — | $15.04B | $19.49B | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 1.42 | 1.76 | — | — | — |
| EV / FCF | — | — | — | 22.02 | 20.45 | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | +5.19% | +4.02% | — | — | — |
| Free cash flow yield | — | — | — | +4.37% | +4.71% | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +13.11% | +12.72% | +13.39% | +12.73% | +15.31% | +13.99% | +13.98% | +14.06% |
| Operating margin | +11.56% | +10.69% | +10.11% | +9.82% | +9.51% | +9.81% | +9.86% | +10.09% |
| EBITDA margin | +11.96% | +11.02% | +10.84% | +10.40% | +10.40% | +10.42% | +10.55% | +10.36% |
| EBIT margin | +11.65% | +10.69% | +10.11% | +9.82% | +9.88% | +9.69% | +10.05% | +9.75% |
| Pre-tax margin | +11.65% | +10.75% | +10.91% | +10.33% | +9.88% | +10.43% | +10.18% | +10.13% |
| Net margin | +8.57% | +7.95% | +8.10% | +7.64% | +7.35% | +7.79% | +7.75% | +7.57% |
| Cost structure | ||||||||
| Cost of revenue / sales | +86.89% | +87.28% | +86.61% | +87.27% | +84.69% | +87.94% | +85.32% | +85.90% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +0.10% | +0.14% | +0.30% | +0.31% | +0.36% | +0.32% | +0.33% | +0.33% |
| Effective tax rate | +26.28% | +25.89% | +25.94% | +25.86% | +25.78% | +26.44% | +26.70% | +26.09% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +40.47% | +43.60% | +31.48% | +36.39% | +34.51% | +34.67% | +33.41% | +32.67% |
| Return on assets (ROA) | +18.60% | +24.28% | +16.64% | +17.04% | +16.63% | +16.62% | +17.33% | +16.60% |
| Return on capital (ROC) | +48.15% | +50.23% | +32.20% | +37.26% | +31.06% | +33.45% | +32.98% | +33.89% |
| Return on invested capital (ROIC) | +35.69% | +37.37% | +25.79% | +28.99% | +24.02% | +26.56% | +25.92% | +25.42% |
| Asset turnover | +217.13% | +305.37% | +205.58% | +222.96% | +226.19% | +213.42% | +223.73% | +219.38% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +8.57% | +7.95% | +8.10% | +7.64% | +7.35% | +7.79% | +7.75% | +7.57% |
| Asset turnover (× revenue / assets) | +217.13% | +305.37% | +205.58% | +222.96% | +226.19% | +213.42% | +223.73% | +219.38% |
| Equity multiplier (× assets / equity) | +217.55% | +179.55% | +189.17% | +213.61% | +207.53% | +208.54% | +192.76% | +196.85% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 2.17 | 3.05 | 2.06 | 2.23 | 2.26 | 2.13 | 2.24 | 2.19 |
| Fixed-asset turnover | 17.45 | 16.91 | 9.34 | 10.59 | 10.93 | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — |
| Receivables turnover | 4.34 | 8.10 | 6.07 | 5.31 | 5.47 | — | — | — |
| Payables turnover | 7.13 | 13.44 | 9.36 | 8.92 | 8.34 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 84.17 | 45.06 | 60.15 | 68.79 | 66.67 | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 51.16 | 27.17 | 39.01 | 40.90 | 43.74 | — | — | — |
| Cash conversion cycle | 33.01 | 17.90 | 21.14 | 27.89 | 22.93 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.61 | 1.57 | 1.40 | 0.89 | 1.24 | 1.18 | 1.16 | 1.21 |
| FCF / Net income | 0.59 | 1.50 | 1.35 | 0.84 | 1.17 | 1.10 | 1.13 | 1.13 |
| FCF margin | +5.04% | +11.97% | +10.90% | +6.44% | +8.61% | +8.53% | +8.75% | +8.56% |
| OCF margin | +5.26% | +12.48% | +11.32% | +6.82% | +9.09% | +9.19% | +8.99% | +9.12% |
| CapEx / Revenue | +0.22% | +0.51% | +0.42% | +0.38% | +0.48% | +0.43% | +0.44% | +0.42% |
| CapEx / D&A | 0.71 | 1.51 | 0.58 | 0.66 | 0.94 | — | — | — |
| Stock-based comp / Revenue | +0.42% | +0.38% | +0.63% | +0.61% | +0.63% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 8.27 | 8.26 | 5.01 | 5.72 | 5.95 | 6.78 | 6.83 | 7.03 |
| EPS · basic | 8.37 | 8.33 | 5.05 | 5.75 | 5.97 | 6.85 | 6.77 | 6.97 |
| Book value / share | 20.43 | 18.94 | 15.92 | 15.71 | 17.31 | 19.08 | 20.42 | 21.29 |
| Tangible BV / share | 20.38 | 18.89 | 15.87 | 15.65 | 17.25 | 19.08 | 20.42 | 21.29 |
| Sales / share | 96.49 | 103.82 | 61.92 | 74.80 | 81.24 | 84.94 | 88.08 | 91.92 |
| Operating CF / share | 5.07 | 12.95 | 7.01 | 5.10 | 7.39 | 7.80 | 7.92 | 8.39 |
| Free cash flow / share | 4.86 | 12.42 | 6.75 | 4.82 | 7.00 | 7.25 | 7.71 | 7.87 |
| Dividends / share | 1.14 | 1.30 | 1.35 | 1.44 | 1.52 | 1.74 | 1.74 | 1.84 |
| Payout ratio | +13.83% | +15.75% | +26.83% | +25.19% | +25.49% | +26.25% | +25.55% | +26.52% |
| Retention ratio | +86.17% | +84.25% | +73.17% | +74.81% | +74.51% | +73.75% | +74.45% | +73.48% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +3.32% | -45.52% | +13.98% | +4.42% | +5.17% | +3.07% | +5.04% | -3.80% |
| Gross profit · YoY | — | +0.26% | -42.63% | +8.32% | +25.59% | -3.84% | +2.93% | +5.63% | -2.83% |
| Profit | |||||||||
| Operating income · YoY | — | -4.45% | -48.48% | +10.79% | +1.08% | +8.47% | +3.59% | +7.47% | -5.65% |
| EBITDA · YoY | — | -4.79% | -46.45% | +9.40% | +4.39% | +5.45% | +4.28% | +3.13% | -5.76% |
| Net income · YoY | — | -4.10% | -44.53% | +7.60% | +0.46% | +11.43% | +2.50% | +2.58% | -5.49% |
| Operating | |||||||||
| EBIT · YoY | — | -5.23% | -48.48% | +10.79% | +5.06% | +3.11% | +6.89% | +1.94% | -6.21% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | -0.12% | -39.35% | +14.17% | +4.02% | +13.98% | +0.70% | +2.91% | -2.30% |
| EPS · basic · YoY | — | -0.48% | -39.38% | +13.86% | +3.83% | +14.71% | -1.16% | +2.91% | -2.59% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $467.66M | $518.47M | $527.73M | $568.94M | $1.03B | $797.75M | $803.74M | $832.35M |
| Net debt | -$1.26B | -$1.52B | -$985.15M | -$579.38M | -$284M | -$688.08M | -$725.1M | -$817.7M |
| Net debt / EBITDA | -0.64 | -0.81 | -0.98 | -0.53 | -0.25 | -0.57 | -0.57 | -0.63 |
| Debt / equity | 0.13 | 0.17 | 0.22 | 0.26 | 0.44 | 0.30 | 0.29 | 0.29 |
| Debt / assets | +6.15% | +9.27% | +11.67% | +11.97% | +21.05% | +14.62% | +14.99% | +14.49% |
| Equity / assets | +45.97% | +55.69% | +52.86% | +46.81% | +48.19% | +47.95% | +51.88% | +50.80% |
| Coverage | ||||||||
| EBITDA / interest expense | 4808.61 | 80.84 | 209.94 | — | — | 620.96 | 603.22 | 595.74 |
| Operating income / interest | 4645.56 | 78.38 | 195.82 | — | — | 584.20 | 563.77 | 580.20 |
| Interest expense | $411K | $23.28M | $4.8M | $0 | $0 | $1.95M | $2.1M | $2.19M |
| Liquidity | ||||||||
| Current ratio | 1.78 | 2.20 | 2.02 | 1.77 | 1.81 | — | — | — |
| Quick ratio | 1.49 | 2.02 | 1.79 | 1.52 | 1.61 | — | — | — |
| Cash ratio | 0.46 | 0.99 | 0.89 | 0.56 | 0.63 | — | — | — |
| Working capital | $2.91B | $2.46B | $1.73B | $1.59B | $1.68B | — | — | — |
| Working capital / revenue | +17.60% | +14.43% | +18.61% | +15.03% | +15.20% | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 1.76x | 1.42x |
| Earnings yield | 4.0% | 5.2% |
| FCF yield | 4.7% | 4.4% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 34.5% | 36.4% |
| ROA | 16.6% | 17.0% |
| ROIC | 26.6% | 27.6% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | -0.65 | -0.53 |
| Interest coverage | — | — |
| Current ratio | 1.81x | 1.77x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).