financial statements

The full income statement, balance sheet, and cash-flow statement for Expeditors International of Washington Inc. (EXPD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	11.1B YoY+4.4%	10.6B YoY+14.0%	9.30B YoY-45.5%	17.1B YoY+3.3%	16.5B YoY+72.4%
Selling & marketing	40.1M YoY+20.3%	33.3M YoY+19.4%	27.9M YoY+14.9%	24.3M YoY+51.6%	16.0M YoY-13.1%
Provision for credit losses	3.60M YoY+4.4%	3.45M YoY-12.6%	3.94M YoY-64.3%	11.1M YoY+46.6%	7.54M YoY+35.0%
Operating income	1.05B YoY+1.1%	1.04B YoY+10.8%	940M YoY-48.5%	1.82B YoY-4.4%	1.91B YoY+103.0%
Interest expense	—	—	4.80M YoY-79.4%	23.3M YoY+5563.5%	411K YoY+87.7%
Interest & investment income	35.7M YoY-23.5%	46.7M YoY-33.7%	70.5M YoY+175.7%	25.6M YoY+190.2%	8.81M YoY-15.4%
Other non-operating income	5.80M YoY-14.3%	6.77M YoY+45.8%	4.64M YoY+133.1%	-14.0M YoY-303.6%	6.89M YoY+16.2%
Pre-tax income	1.09B YoY-0.1%	1.09B YoY+7.9%	1.02B YoY-44.7%	1.84B YoY-4.6%	1.92B YoY+101.2%
Income tax	282M YoY-0.4%	283M YoY+7.6%	263M YoY-44.6%	475M YoY-6.0%	506M YoY+95.8%
	810M YoY+0.0%	810M YoY+7.6%	753M YoY-44.5%	1.36B YoY-4.1%	1.42B YoY+103.3%
Net income to non-controlling interest	1.72M YoY+10.0%	1.56M YoY+241.3%	-1.10M YoY-134.4%	3.21M YoY-4.4%	3.35M YoY+61.7%
Net income to common	—	—	753M YoY-44.5%	1.36B YoY-4.1%	1.42B YoY+103.3%
	$5.95 YoY+4.0%	$5.72 YoY+14.2%	$5.01 YoY-39.3%	$8.26 YoY-0.1%	$8.27 YoY+103.2%
EPS (basic)	$5.97 YoY+3.8%	$5.75 YoY+13.9%	$5.05 YoY-39.4%	$8.33 YoY-0.5%	$8.37 YoY+102.2%
Weighted-avg shares (basic)	136M YoY-3.7%	141M YoY-5.5%	149M YoY-8.5%	163M YoY-3.6%	169M YoY+0.5%
Weighted-avg shares (diluted)	136M YoY-3.9%	142M YoY-5.6%	150M YoY-8.7%	164M YoY-4.0%	171M YoY+0.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.76B YoY+2.6%	3.66B YoY+6.5%	3.44B YoY-24.0%	4.52B YoY-31.9%	6.64B YoY+67.4%
Cash & equivalents	1.31B YoY+14.5%	1.15B YoY-24.1%	1.51B YoY-25.6%	2.03B YoY+17.7%	1.73B YoY+13.1%
Short-term investments	40.0K YoY+0.0%	40.0K YoY+0.0%	40.0K YoY+0.0%	40.0K YoY+0.0%	40.0K YoY+0.0%
Accounts receivable	2.02B YoY+1.2%	2.00B YoY+30.4%	1.53B YoY-27.3%	2.11B YoY-44.7%	3.81B YoY+90.7%
Prepaid expenses	136M YoY-17.1%	164M YoY-3.9%	171M YoY+44.0%	119M YoY+9.1%	109M YoY-1.3%
Other current assets	43.5M YoY+0.0%	43.5M YoY+0.0%	43.5M YoY+0.0%	43.5M YoY+0.0%	43.5M YoY+0.0%
	4.89B YoY+2.9%	4.75B YoY+5.1%	4.52B YoY-19.1%	5.59B YoY-26.5%	7.61B YoY+54.4%
Property, plant & equipment	462M YoY+2.8%	449M YoY-6.2%	479M YoY-4.5%	502M YoY+2.9%	488M YoY-3.7%
Operating lease right-of-use	550M YoY-0.3%	552M YoY+6.9%	516M YoY+1.7%	508M YoY+10.5%	459M YoY+6.1%
Goodwill	7.93M YoY+0.0%	7.93M YoY+0.0%	7.93M YoY+0.0%	7.93M YoY+0.0%	7.93M YoY+0.0%
Intangible assets	2.63M YoY+0.0%	2.63M YoY+0.0%	2.63M YoY+0.0%	2.63M YoY+0.0%	2.63M YoY+0.0%
Deferred tax assets	102M YoY+43.9%	70.7M YoY+11.0%	63.7M YoY+70.1%	37.4M YoY+5037.0%	729K
Other non-current assets	30.9M YoY+0.0%	30.9M YoY+0.0%	30.9M YoY+0.0%	30.9M YoY+0.0%	30.9M YoY+0.0%
	2.07B YoY+0.3%	2.07B YoY+21.2%	1.70B YoY-17.0%	2.05B YoY-44.9%	3.73B YoY+96.8%
Accounts payable	1.12B YoY+8.4%	1.04B YoY+20.4%	861M YoY-22.4%	1.11B YoY-44.9%	2.01B YoY+77.0%
Accrued liabilities	448M YoY-0.9%	452M YoY+1.0%	447M YoY-6.7%	479M YoY+18.7%	404M YoY+57.0%
Deferred revenue	358M YoY-18.9%	442M YoY+57.3%	281M YoY-13.1%	323M YoY-71.7%	1.14B YoY+200.8%
Current lease liability	111M YoY+3.9%	107M YoY+7.0%	99.7M YoY+4.3%	95.6M YoY+16.6%	82.0M YoY+10.8%
Non-current lease liability	460M YoY-0.5%	462M YoY+8.0%	428M YoY+1.2%	423M YoY+9.6%	386M YoY+5.9%
Deferred tax liabilities	3.04M	0.00 YoY-100.0%	5.65M YoY+0.0%	5.65M YoY+0.0%	5.65M YoY-19.8%
	2.36B YoY+6.0%	2.22B YoY-7.0%	2.39B YoY-23.1%	3.11B YoY-11.0%	3.49B YoY+31.4%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	1.34M YoY-3.0%	1.38M YoY-4.1%	1.44M YoY-6.7%	1.54M YoY-7.7%	1.67M YoY-1.2%
Additional paid-in capital	0.00	0.00	0.00 YoY-100.0%	139K YoY-95.6%	3.16M YoY-98.0%
Retained earnings	2.54B YoY+3.4%	2.46B YoY-4.9%	2.58B YoY-22.0%	3.31B YoY-8.5%	3.62B YoY+39.2%
Accumulated other comprehensive income	-21.8M YoY+0.0%	-21.8M YoY+0.0%	-21.8M YoY+0.0%	-21.8M YoY+0.0%	-21.8M YoY+0.0%
Non-controlling interest	2.46M YoY-11.3%	2.77M YoY+160.8%	1.06M YoY-69.7%	3.51M YoY-1.4%	3.56M YoY-0.7%
Total equity incl. non-controlling	2.36B YoY+5.9%	2.23B YoY-6.9%	2.39B YoY-23.2%	3.11B YoY-11.0%	3.50B YoY+31.3%
Total liabilities & equity	4.89B YoY+2.9%	4.75B YoY+5.1%	4.52B YoY-19.1%	5.59B YoY-26.5%	7.61B YoY+54.4%
Common shares issued	134M YoY-3.0%	138M YoY-4.1%	144M YoY-6.8%	154M YoY-7.7%	167M YoY-1.2%
Common shares outstanding	134M YoY-3.0%	138M YoY-4.1%	144M YoY-6.8%	154M YoY-7.7%	167M YoY-1.2%
Shares outstanding (cover)	134M YoY-4.3%	140M YoY-3.7%	145M YoY-8.6%	159M YoY-6.1%	169M YoY+0.1%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.01B YoY+39.1%	723M YoY-31.3%	1.05B YoY-50.5%	2.13B YoY+145.2%	868M YoY+32.6%
Depreciation & amortization	56.8M YoY-7.1%	61.1M YoY-9.8%	67.8M YoY+18.2%	57.3M YoY+11.7%	51.3M YoY-9.9%
Share-based compensation	69.2M YoY+7.6%	64.4M YoY+10.2%	58.4M YoY-9.3%	64.4M YoY-7.2%	69.4M YoY+11.0%
Deferred income taxes	-13.7M YoY-166.9%	-5.14M YoY+77.6%	-22.9M YoY+31.1%	-33.2M YoY-800.8%	-3.69M YoY-144.1%
	-44.7M YoY-10.3%	-40.5M YoY-2.8%	-39.4M YoY+55.0%	-87.7M YoY-139.4%	-36.6M YoY+20.4%
Capital expenditure	53.1M YoY+31.2%	40.5M YoY+2.9%	39.3M YoY-54.7%	86.8M YoY+139.5%	36.2M YoY-23.8%
Other investing activities	-8.40M YoY-14833.3%	57.0K YoY-52.1%	119K YoY-86.6%	890K YoY+123.6%	398K YoY+126.3%
	-802M YoY+21.7%	-1.03B YoY+33.3%	-1.54B YoY+8.8%	-1.68B YoY-174.6%	-614M YoY-85.1%
Common stock repurchased	667M YoY-22.0%	855M YoY-38.6%	1.39B YoY-11.9%	1.58B YoY+207.4%	515M YoY+54.8%
Dividends paid	207M YoY+1.6%	204M YoY+1.0%	202M YoY-5.5%	214M YoY+9.2%	196M YoY+11.9%
FX effect on cash	—	—	—	—	-17.4M YoY-187.7%
Net change in cash	166M YoY+145.5%	-365M YoY+30.1%	-521M YoY-270.7%	305M YoY+52.0%	201M YoY-32.4%
Income taxes paid	265M YoY+3.1%	257M YoY-27.8%	356M YoY-37.1%	567M YoY+28.0%	443M YoY+84.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	20.0B YoY+28.8%	15.5B YoY-16.2%	18.5B YoY+11.8%	16.5B YoY-27.3%	22.7B YoY+41.3%
P/E	24.6× YoY+28.8%	19.1× YoY-17.2%	23.1× YoY+116.4%	10.7× YoY-33.5%	16.1× YoY-30.5%
P/S	1.8× YoY+23.3%	1.5× YoY-18.6%	1.8× YoY+101.2%	0.9× YoY-35.1%	1.4× YoY-15.9%
P/B	8.5× YoY+21.5%	7.0× YoY-7.7%	7.6× YoY+54.8%	4.9× YoY-25.0%	6.5× YoY+7.6%
P/FCF	20.9× YoY-7.7%	22.7× YoY+61.1%	14.1× YoY+54.9%	9.1× YoY-66.7%	27.3× YoY+3.1%
Earnings yield	4.1% YoY-22.3%	5.2% YoY+20.8%	4.3% YoY-53.8%	9.4% YoY+50.4%	6.2% YoY+43.9%
FCF yield	4.8% YoY+8.4%	4.4% YoY-37.9%	7.1% YoY-35.4%	11.0% YoY+200.3%	3.7% YoY-3.0%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: EXPD's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EXPD filings on SEC EDGAR → Not investment advice.

EXPD▼ financial statements

About this data

financial statements