EXPEDITORS INTERNATIONAL OF WASHINGTON INC（EXPD）の決算・業績分析
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの2025年有価証券報告書をAI分析。売上高$11.1B(+4.4%)。営業利益$1.1B。Industrials。
目次
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの2025年度 業績サマリー
EXPEDITORS INTERNATIONAL OF WASHINGTON INC（証券コード: EXPD）の2025年度決算・業績分析。売上高は$11.1B（前年比+4.4%）。営業利益は$1.1B（前年比+1.1%）。純利益は$810M（前年比+0.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 3.3% YoY to $17.1B (XBRL), driven by ocean transportation demand and e-commerce growth, though operating income declined 4.4% to $1.8B (XBRL).
- Strong cash flow generation: Operating cash flow of $2.1B (XBRL), with $1.8B returned to shareholders via dividends and buybacks (XBRL).
- ROE of 56.8% (XBRL) and ROA of 24.3% (XBRL) highlight efficient use of equity and assets despite margin compression.
- Liquidity remains robust with $1.5B in cash (XBRL) and a current ratio of 2.02x (XBRL).
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの売上高変化の要因
- •Total revenue reached $17.1B (XBRL), +3.3% YoY, with growth driven by increased ocean freight demand and airfreight volumes from Asia (10-K). North Asia accounted for 28% of FY2024 revenue (10-K). However, Red Sea disruptions increased transportation costs, impacting profitability (10-K). Segment-level revenue data is unavailable in XBRL, though airfreight and ocean freight are primary revenue drivers.
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの営業利益変化の要因
- •Operating income declined 4.4% YoY to $1.8B (XBRL), with operating margin at 10.7% (XBRL). Net income fell 4.1% to $1.4B (XBRL), reflecting higher transportation costs from Red Sea disruptions (10-K). EBITDA of $1.9B (11.0% margin) remained stable, while net margin contracted to 8.0% (XBRL). Gross profit data is not available (XBRL).
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの事業リスクと対応
Global trade disruptions or reduced international commerce could harm operations (10-K).
Intense competition from larger firms and evolving customer demands may reduce margins (10-K).
Reliance on key personnel and challenges in retaining talent could disrupt operations (10-K).
Technology obsolescence or failure to update systems may harm competitiveness (10-K).
Regulatory changes, trade barriers, and geopolitical conflicts could impact business (10-K).
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの今後の見通し・業績予想
EXPEDITORS INTERNATIONAL OF WASHINGTON INCの事業内容
Expeditors International of Washington Inc (EXPD) operates as a global third-party logistics provider, generating revenue through transportation, customs brokerage, and order management services (10-K). Key offerings include airfreight, ocean freight, and customs brokerage, leveraging an international network and integrated systems for competitive advantage (10-K). The company serves a diversified client base without significant concentration (10-K), employing ~18,000 people (10-K). It avoids direct competition in overnight courier or small parcel markets (10-K).
EXPEDITORS INTERNATIONAL OF WASHINGTON INCのAI業績分析レポート（2024年度）
Highlights
Business Overview
Expeditors operates as a global third-party logistics provider, offering airfreight, ocean freight, and customs brokerage services (10-K). With ~18,000 employees (10-K), the company leverages an international network and integrated systems for competitive advantage (10-K). No significant customer concentration exists (10-K), and it avoids direct competition in overnight courier markets (10-K).
Revenue Analysis
FY2024 revenue of $17.1B (XBRL) reflects +3.3% YoY growth, driven by ocean freight demand and e-commerce growth (10-K). North Asia accounted for 28% of revenue (10-K). Red Sea disruptions increased transportation costs, though airfreight volumes from Asia remained strong (10-K). Segment-level data is unavailable in XBRL.
Profitability Analysis
Operating income declined 4.4% YoY to $1.8B (XBRL), with operating margin at 10.7% (XBRL). Net income fell 4.1% to $1.4B (XBRL), attributed to higher transportation costs (10-K). EBITDA of $1.9B (11.0% margin) remained stable, while gross profit data is unavailable (XBRL).
Balance Sheet Analysis
Equity ratio of 42.8% (XBRL) and current ratio of 2.02x (XBRL) indicate strong liquidity. Total assets decreased from $7.6B (FY2023) to $5.6B (FY2024) (XBRL), with equity falling from $3.1B to $2.4B (XBRL). Cash reserves of $1.5B (XBRL) support ROE of 56.8% (XBRL) and ROA of 24.3% (XBRL).
Cash Flow Analysis
Operating cash flow of $2.1B (XBRL) exceeded net income of $1.4B (XBRL). Free cash flow was $2.0B (XBRL), with $1.6B allocated to share repurchases and $214M to dividends (XBRL). Investing cash flow was -$88M (XBRL), while financing cash flow totaled -$1.7B (XBRL).
Working Capital Analysis
Receivables days: 33 days (XBRL); Payables days: 18 days (XBRL); Asset turnover: 3.05x (XBRL). Cash conversion cycle (CCC) data is unavailable (N/A).
Risks
Outlook
Management highlights Red Sea disruptions as a near-term cost driver, while e-commerce growth and tech sector demand are expected to sustain airfreight volumes (10-K). No explicit forward-looking guidance is provided in the 10-K text.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 8.1B | 7.9B | 9.6B | 16.5B | 17.1B | 9.3B |
| Operating Income | 797M | 767M | 940M | 1.9B | 1.8B | 940M |
| Net Income | 618M | 590M | 696M | 1.4B | 1.4B | 753M |
| Total Assets | 3.3B | 3.7B | 4.9B | 7.6B | 5.6B | 4.5B |
| Total Equity | 2.2B | 2.7B | 3.5B | 3.1B | 2.4B | 2.2B |
| Operating Cash Flow | 573M | 772M | 655M | 868M | 2.1B | 1.1B |
Industrialsの企業一覧
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