Morningstar

Expeditors International of Washington Inc EXPD

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Stock XNYS Rating as of
$125.69 −2.57 (2.00%)
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As of Delayed Price Closed

Company Report

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Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks

Matthew Young

As anticipated, the International Longshoremen’s Association has implemented a work stoppage across US East Coast and Gulf Coast ports. As we understand it, the dockworkers union initially wanted a more than 70% increase in wages over a six-year period in order to return to the negotiating table. Before the strike, it sounded to us as if the Biden administration was signaling hesitancy to intervene via the Taft-Hartley Act. Thus, the potential duration of the strike remains uncertain.

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Price vs Fair Value

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EXPD is trading at a 535% premium.
Price
$125.69
Fair Value
$155.00
Uncertainty
Medium
1-Star Price
$599.55
5-Star Price
$51.60
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Expeditors has a long history of impressive execution and industry-leading profitability throughout the business cycle. Its non-asset-based operating model has generated average returns on capital near 40% over the past decade.

Bears

Elevated macroeconomic uncertainty could keep a lid on retail-sector restocking activity for an extended period of time, thus pressuring underlying air and ocean demand levels.

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Trading Information

Previous Close Price
$128.26
Day Range
$125.28–128.75
52-Week Range
$107.03–131.59
Bid/Ask
$125.50 / $133.02
Market Cap
$17.74 Bil
Volume/Avg
1.1 Mil / 1.1 Mil

Key Statistics

Price/Earnings (Normalized)
25.18
Price/Sales
2.00
Dividend Yield (Trailing)
1.13%
Dividend Yield (Forward)
1.16%
Total Yield
6.05%

Company Profile

Expeditors International of Washington is a non-asset-based third-party logistics provider, focused on international freight forwarding. Its offers freight consolidation and forwarding, customs brokerage, warehousing and distribution, purchase order management, vendor consolidation, and numerous other value-added logistics services. It employs sophisticated IT systems and contracts with airlines and ocean carriers to move customers' freight across the globe. The firm operates more than 200 full-service office locations worldwide, in addition to numerous satellite locations. Expeditors derives around 34% of consolidated net revenue from airfreight, 30% from ocean freight, and 36% from customs brokerage and other services.
Sector
Industrials
Industry
Integrated Freight & Logistics
Stock Style Box
Mid Core
Total Number of Employees
18,100
Website
https://www.expeditors.com

Competitors

Valuation

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Metric
EXPD
DHL
CHRW
Price/Earnings (Normalized)
 25.1814.2232.36
Price/Book Value
 8.122.058.42
Price/Sales
 2.000.570.74
Price/Cash Flow
 22.895.9625.34
Price/Earnings
EXPD
DHL
CHRW

Financial Strength

Metric
EXPD
DHL
CHRW
Quick Ratio
 1.440.721.30
Current Ratio
 1.710.901.37
Interest Coverage
 —6.0218.50
Quick Ratio
EXPD
DHL
CHRW

Profitability

Metric
EXPD
DHL
CHRW
Return on Assets (Normalized)
 15.77%4.51%7.30%
Return on Equity (Normalized)
 30.64%13.29%27.48%
Return on Invested Capital (Normalized)
 23.44%7.69%13.60%
Return on Assets
EXPD
DHL
CHRW

Integrated Freight & Logistics Industry Comparables

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Morningstar Rating for Stocks
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CrnfbbrlgKkjvd$50.9 Bil
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ZTO
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 JB Hunt Transport Services Inc
JBHT
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 C.H. Robinson Worldwide Inc
CHRW
TltfjdgzjVgqc$12.7 Bil
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HUBG
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