Expeditors Intl (EXPD)
Industrials · NASDAQ · US
Fundamentals
Valuation and ratings
Expeditors Intl trades at $181.96, close to the $203.96 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 50 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 27.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Expeditors Intl
Expeditors International of Washington, Inc., together with its subsidiaries, provides logistics services in the Americas, North Asia, South Asia, Europe, and Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage and other services, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other logistics solutions. It also provides optimization, trade compliance consulting, cargo insurance, cargo security, and solutions. In addition, it acts as a freight consolidator or as an agent for the airline that carries the shipment. Further, the company provides ancillary services that include preparation of shipping and customs documentation, packing, crating, insurance services, and the preparation of documentation to comply with local export and import laws. The company was incorporated in 1979 and is headquartered in Bellevue, Washington.
EXPD passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
11 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- First Eagle, First Eagle Investment Management, LLC$851.53M · 1.4% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$141.10M · 0.1% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$50.22M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$46.10M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$31.18M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Expeditors Intl (EXPD) undervalued?
Against our discounted cash flow estimate of $203.96, EXPD at $181.96 is 12% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own EXPD?
11 of the institutions we track reported a position in EXPD in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is EXPD's P/E ratio?
EXPD trades at 27.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for EXPD, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.