EXPDExpeditors International
Is the business good?
The checks split: earnings fully cash-backed (1.1×) and elite returns on assets, but margins compressing.
Operating profit is fully backed by cash.
Profits are tracking sales roughly one-for-one, limited operating leverage either way.
High-quality, exceptional returns on the assets themselves, not leverage. ROE 38% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is EXPD?
Expeditors International earns 86% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 77 points above what the capital costs: growth creates value
- Operating margin
- 9.8%
Operating margin · Integrated Freight & Logistics median 5.3% · 12 months to Q2 2026
- Cash conversion
- 1.09×
Cash conversion · 1.05× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −3.9%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 9.8% |
| FY2021 | 12% |
| FY2022 | 11% |
| FY2023 | 10% |
| FY2024 | 9.8% |
| FY2025 | 9.5% |
Details›
- Gross margin12 months to Q2 2026
- 33%
- Operating margin12 months to Q2 2026
- 9.8%
- Net margin12 months to Q2 2026
- 7.6%
- Free cash flow margin
- 7.7%
- Revenue, trailing twelve months
- $12.0B
- Free cash flow, trailing twelve months
- $924M
- Net income, trailing twelve months
- $919M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 86%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Integrated Freight & Logistics
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