Expeditors International of Washington, Inc. (EXPD)

FairStock Score: 67/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham investor, I see Expeditors as a high-quality logistics intermediary: it earns fees arranging air and ocean freight, customs brokerage and other services. The potential moat is the global network and customs expertise, but the long-term growth record does not suggest a wide moat. In fiscal Q2 2026, the quarter ended 2026-06-30, filed revenue was $3.5B, net income $266.2M, and diluted EPS $2.03, versus fiscal Q2 2025 revenue $2.7B, net income $183.6M, and diluted EPS $1.34. For FY2025, revenue was $11.1B and net income $810.3M, or $5.95 per diluted share, barely above FY2024 net income of $810.1M and diluted EPS of $5.72. The five-year record is pedestrian: the FairStock Lynch category is SLOW GROWER, with profit growing 3.1% a year and revenue 2.9%. Financial health looks excellent: FairStock calculations put ROE at 42.67%, ROCE at 15.23%, debt-to-equity at 0.27, Altman Z-Score at 6.92, and Piotroski at 6/9. FairStock Score is 55/100. Still, at the 2026-10-13 close of $195.13, FairStock's P/E is 28.40, P/B 11.97, EV/EBITDA 20.11, and FCF yield only 3.6%. Its Graham Number is $50.20, leaving a margin of safety of -288.71%. The market is paying a premium for a cyclical intermediary with modest long-term growth. I admire the balance sheet and returns, but the price already assumes a lot.

In plain English: Expeditors International helps move goods around the world by arranging air and ocean freight and handling customs paperwork. The business is profitable and carries little debt, and its most recent quarterly sales and earnings rose sharply from a year earlier. However, the share price looks high compared with the company's profits, net assets, and the value its earnings and net assets alone might support.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer