Expeditors International of Washington, Inc. Financial Ratios — EXPD

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	20.78	16.61	16.96	18.87	24.86	23.16	24.39	29.75	26.75	28.27	45.49	39.15	25.54	32.15	32.44
Return on Assets (%)	13.91	11.45	11.68	12.76	16.76	16.09	16.57	19.22	16.85	16.15	22.58	20.57	14.89	17.46	16.8
Return on Capital (%)	20.7	16.62	16.86	18.72	24.7	23.04	24.31	29.65	24.49	24.1	39.58	34.6	21.81	26.34	26.33
Return on Invested Capital (%)	19.78	15.8	16.28	18.54	24.99	23.63	24.77	30.22	24.84	23.91	39.17	35.05	21.1	26.87	27.08
Gross Margin (%)	12.7	11.71	11.57	11.64	13.54	13.95	12.76	12.54	12.55	12.13	13.11	12.72	13.39	12.73	12.92
EBITDA Margin (%)	10.63	9.52	9.87	9.81	11.6	11.76	10.83	10.45	10.29	10.41	11.87	11.02	10.84	10.4	10.02
Operating Margin (%)	10.04	8.86	9.08	9.06	10.9	10.99	10.12	9.79	9.65	9.81	11.56	10.69	10.11	9.82	9.51
Incremental Operating Margin (%)	36.65	51.69	24.16	8.79	244.33	9.9	3.66	7.91	15.24	10.58	13.96	-15.51	11.38	7.8	2.4
Pretax Margin (%)	10.36	9.19	9.42	9.31	11.13	11.26	10.38	10.06	10.02	9.98	11.65	10.75	10.91	10.33	9.88
Profit Margin (%)	6.26	5.56	5.73	5.74	6.91	7.06	7.07	7.6	7.43	7.26	8.57	7.95	8.1	7.64	7.32
Net Income to Common Margin (%)	6.26	5.56	5.73	5.74	6.91	7.06	7.07	7.6	7.43	7.26	8.57	7.95	8.1	7.64	7.32
Effective Tax Rate (%)	39.46	39.5	38.87	37.88	37.63	37.03	31.76	24.26	25.61	27.01	26.28	25.89	25.94	25.86	25.78
Dvd Payout Ratio (%)	27.41	35.26	35.08	32.62	29.38	33.42	30.62	25.24	28.73	24.98	13.77	15.68	26.91	25.1	25.49
Sustainable Growth Rate (%)	15.08	10.75	11.01	12.71	17.56	15.42	16.92	22.24	19.07	21.21	39.23	33.01	18.67	24.08	24.17

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	392	438	468	518	528	569	571
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	65	74	82	96	100	107	111
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	326	364	386	423	428	462	460
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	0.48	0.44	0.24	0.28	0.52	0.52	0.51
Net Debt/EBITDA	-1.98	-2.21	-2.08	-1.44	-1.05	-1.36	-1.4	-1.09	-1.5	-1.53	-0.88	-1.08	-1.5	-1.04	-1.18
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	0.51	0.47	0.24	0.28	0.56	0.55	0.54
Net Debt/EBIT	-2.09	-2.38	-2.26	-1.56	-1.12	-1.45	-1.5	-1.16	-1.6	-1.62	-0.91	-1.11	-1.61	-1.1	-1.25
EBITDA to Interest Expense	675.36	456.23	- -	- -	- -	- -	- -	- -	- -	4,554.32	4,770.41	80.84	209.94	- -	- -
EBITDA-CapEx/Interest Expense	594.83	418.16	- -	- -	- -	- -	- -	- -	- -	4,337.23	4,682.22	77.11	201.75	- -	- -
EBIT to Interest Expense	637.45	424.3	- -	- -	- -	- -	- -	- -	- -	4,294.23	4,645.56	78.38	195.82	- -	- -
Interest Expense	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	23	5	- -	- -
Common Equity/Total Assets	69.53	68.4	69.3	65.9	69.12	69.75	66.26	63.07	62.92	52.8	47.59	59.25	57.08	51.67	51.9
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.85	13.67	11.02	13.58	17.9	20.77	19.49
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	12.01	11.97	9.42	11.03	13.76	15.26	14.77
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	8.84	7.39	5.07	7.56	9.46	9.72	9.39
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	17.83	16.45	13.37	16.65	22.07	25.56	24.2
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.42	14.4	11.43	13.52	16.96	18.79	18.33
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	10.61	8.89	6.15	9.27	11.67	11.97	11.66
Net Debt to Equity	-64.39	-62.03	-59.8	-49.54	-47.67	-52.75	-52.7	-46.47	-56	-57.37	-49.42	-65.33	-63.26	-51.59	-55.74
Net Debt/Capital (%)	-183.49	-164.88	-147.95	-94.49	-83.44	-99.97	-103.38	-79.12	-82.78	-100.79	-73.12	-112.99	-94.65	-61.08	-73.07
EBITDA	655	571	600	644	767	717	750	851	818	997	1,961	1,882	1,008	1,102	1,109
EBITDA-CapEx	577	523	547	579	723	658	655	803	771	950	1,924	1,795	968	1,062	1,056
Operating Income (Loss)	618	531	552	595	721	670	700	797	767	940	1,909	1,824	940	1,041	1,053

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	1.63	1.5	1.46	0.98	0.94	1.05	0.96	0.7	1.05	0.81	0.46	0.99	0.89	0.56	0.63
Current Ratio	2.87	2.8	2.78	2.33	2.29	2.39	2.32	2.06	2.37	2.09	1.78	2.2	2.02	1.77	1.81
Quick Ratio	2.8	2.72	2.7	2.24	2.23	2.33	2.26	1.89	2.18	1.86	1.49	2.02	1.79	1.52	1.61
CFO/Avg Current Liab	0.55	0.45	0.48	0.43	0.61	0.59	0.48	0.47	0.62	0.43	0.31	0.74	0.56	0.38	0.49
Common Equity/Total Assets	69.53	68.4	69.3	65.9	69.12	69.75	66.26	63.07	62.92	52.8	47.59	59.25	57.08	51.67	51.9
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.85	13.67	11.02	13.58	17.9	20.77	19.49
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	12.01	11.97	9.42	11.03	13.76	15.26	14.77
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	8.84	7.39	5.07	7.56	9.46	9.72	9.39
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	17.83	16.45	13.37	16.65	22.07	25.56	24.2
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.42	14.4	11.43	13.52	16.96	18.79	18.33
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	10.61	8.89	6.15	9.27	11.67	11.97	11.66
CFO/Total Liabilities	53.36	40.16	43.89	38.75	65.05	56.11	43.53	43.17	51.63	28.93	21.12	85.98	49.39	28.61	39.7
CFO/CapEx	5.85	7.77	7.63	6.12	12.77	8.93	5.14	12.07	16.41	13.78	23.96	24.53	26.79	17.88	18.95
Altman's Z-Score	10.55	9.62	10.11	9.58	10.88	10.62	10.65	10.01	9.6	8.07	7.44	9.6	9.34	7.79	8.91

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	6.36	6.1	5.78	5.68	5.64	5.3	5.31	5.43	5.48	5.79	5.69	5.77	5.11	6.01	5.51
Days Sales Outstanding	57.42	59.88	63.18	64.21	64.77	68.91	68.69	67.19	66.56	63.09	64.15	63.27	71.43	60.78	66.28
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	8.55	8.48	8.34	8.18	8.08	7.65	7.58	8.05	8.48	8.99	9.12	9.55	8.18	9.75	8.92
Accounts Payable Turnover Days	42.71	43.06	43.78	44.62	45.16	47.71	48.15	45.34	43.04	40.58	40.03	38.23	44.63	37.43	40.9
Cash Conversion Cycle	14.71	16.82	19.4	19.58	19.61	21.19	20.54	21.85	23.52	22.51	24.12	25.03	26.8	23.35	25.37
Inventory to Cash Days	57.42	59.88	63.18	64.21	64.77	68.91	68.69	67.19	66.56	63.09	64.15	63.27	71.43	60.78	66.28
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	8,688	8,322	9,115	8,750	8,521	9,601	11,595	11,857	13,334	16,010	22,714	16,940	18,971	15,618	20,237
- Cash & Cash Equivalents	1,294	1,261	1,248	927	808	974	1,051	924	1,230	1,528	1,729	2,034	1,513	1,148	1,314
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	6	5	2	3	3	3	3	1	2	4	4	4	1	3	2
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	392	438	468	518	528	569	571
Enterprise Value	7,400	7,066	7,843	7,786	7,716	8,629	10,547	10,934	12,497	14,924	21,457	15,428	17,987	15,041	19,496
Total Capital	2,000	2,026	2,091	1,908	1,776	1,949	2,068	2,091	2,717	3,044	4,093	3,834	3,111	3,028	3,113
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.42	14.4	11.43	13.52	16.96	18.79	18.33
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.03	0.03	0.02	0.03	0.03	0.04	0.03
EV/Sales	1.2	1.18	1.29	1.19	1.17	1.42	1.52	1.34	1.57	1.56	1.3	0.9	1.93	1.42	1.76
EV/EBITDA	11.3	12.38	13.07	12.09	10.05	12.04	14.07	12.85	15.28	14.96	10.94	8.2	17.85	13.64	17.57
EV/EBIT	11.97	13.31	14.21	13.09	10.69	12.88	15.06	13.73	16.3	15.87	11.24	8.46	19.14	14.44	18.52
EV/Cash Flow to Firm	16.17	19.05	19.24	19.71	13.62	16.3	21.58	19.09	16.19	22.78	24.7	7.19	17.02	20.79	19.37
EV/Free Cash Flow to Firm	13.81	16.88	17.01	16.94	12.63	14.65	18.07	17.63	15.26	21.24	23.71	6.91	16.41	19.69	18.4
Diluted Market Cap	8,808	8,382	9,155	8,778	8,579	9,676	11,752	12,109	13,592	16,254	22,997	17,087	19,104	15,699	20,302
Diluted Enterprise Value	7,520	7,126	7,909	7,854	7,774	8,704	10,703	11,186	12,755	15,168	21,740	15,575	18,120	15,122	19,561
EV per Share	34.89	33.58	38.07	39.69	40.84	47.6	58.84	62.79	73.12	88.66	126.86	94.64	120.6	106.68	143.55
TTM Sales	6,162	5,992	6,080	6,565	6,617	6,098	6,921	8,138	7,942	9,584	16,524	17,071	9,300	10,601	11,069
TTM EBITDA	655	571	600	644	767	717	750	851	818	997	1,961	1,882	1,008	1,102	1,109
TTM Operating Income	618	531	552	595	721	670	700	797	767	940	1,909	1,824	940	1,041	1,053
TTM Cash Flow to Firm	458	371	408	395	567	529	489	573	772	655	869	2,147	1,057	723	1,007
TTM Free Cash Flow to Firm	536	419	461	460	611	589	584	620	819	703	905	2,234	1,096	764	1,060

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	16.46	20.06	19.86	19.1	14.04	16.43	20.14	19.52	16.6	23.14	25.42	7.71	17.49	20.55	19.16
EV/EBIT	11.97	13.31	14.21	13.09	10.69	12.88	15.06	13.73	16.3	15.87	11.24	8.46	19.14	14.44	18.52
Enterprise Value	7,400	7,066	7,843	7,786	7,716	8,629	10,547	10,934	12,497	14,924	21,457	15,428	17,987	15,041	19,496
Low Price	38.25	34.2	34.83	38.14	42.17	40.41	51.57	59.1	64.56	52.55	88.82	86.08	102.89	109.43	100.47
EV/Sales	1.2	1.18	1.29	1.19	1.17	1.42	1.52	1.34	1.57	1.56	1.3	0.9	1.93	1.42	1.76
EV/EBITDA	11.3	12.38	13.07	12.09	10.05	12.04	14.07	12.85	15.28	14.96	10.94	8.2	17.85	13.64	17.57
Price/Earnings	22.53	24.96	26.15	23.22	18.64	22.29	23.7	19.18	22.58	23	16.05	12.48	25.2	19.28	24.97
Price/Earnings Average	26.16	25.04	24.12	22.07	19.52	20.76	20.92	19.61	21.41	19.41	13.91	12.48	22.74	21.08	20.22
Price/Earnings High	30.9	29.97	27.72	24.59	21.41	23.72	24.18	22.02	23.49	23.15	16.47	16.21	25.58	22.9	25.98
Price/Earnings Low	21.04	21.59	20.59	19.85	17.43	17	18.89	16.65	18.69	12.71	10.61	10.34	20.38	19.05	16.84
Price/Book Value	4.36	4.12	4.36	4.59	4.81	4.93	5.61	5.67	5.74	6.15	6.27	5.11	7.35	6.36	7.97
Price/Book Value Average	5.06	4.13	4.02	4.37	5.03	4.59	4.96	5.8	5.44	5.19	5.44	5.11	6.63	6.95	6.45
Price/Book Value High	5.98	4.94	4.62	4.86	5.52	5.25	5.73	6.51	5.97	6.19	6.44	6.64	7.46	7.55	8.29
Price/Book Value Low	4.07	3.56	3.43	3.93	4.49	3.76	4.48	4.92	4.75	3.4	4.15	4.24	5.94	6.28	5.37
Price/Tangible Book Value	4.34	4.11	4.39	4.7	5.05	5.22	5.84	5.99	6.09	6.03	6.51	5.45	7.96	7.04	8.61
Price/Tangible Book Value Average	5.04	4.12	4.05	4.46	5.29	4.86	5.15	6.12	5.77	5.09	5.64	5.46	7.18	7.7	6.97
Price/Tangible Book Value High	5.95	4.93	4.65	4.97	5.8	5.56	5.96	6.87	6.33	6.07	6.68	7.08	8.08	8.37	8.96
Price/Tangible Book Value Low	4.05	3.55	3.45	4.01	4.72	3.98	4.65	5.2	5.04	3.33	4.3	4.52	6.44	6.96	5.81
Price/Sales	1.41	1.39	1.5	1.33	1.29	1.57	1.68	1.46	1.68	1.67	1.37	0.99	2.04	1.47	1.83
Price/Sales Average	1.64	1.39	1.38	1.27	1.35	1.47	1.48	1.49	1.59	1.41	1.19	0.99	1.84	1.61	1.48
Price/Sales High	1.93	1.67	1.59	1.41	1.48	1.68	1.71	1.67	1.75	1.68	1.41	1.29	2.07	1.75	1.9
Price/Sales Low	1.32	1.2	1.18	1.14	1.2	1.2	1.34	1.26	1.39	0.92	0.91	0.82	1.65	1.46	1.23
Price/Cash Flow	19.01	22.48	22.37	22.15	15.04	18.13	23.73	20.7	17.28	24.44	26.15	7.95	18.01	21.59	20.11
Price/Cash Flow Average	22.07	22.55	20.63	21.06	15.75	16.89	20.95	21.16	16.38	20.63	22.67	7.96	16.26	23.6	16.28
Price/Cash Flow High	26.07	26.99	23.71	23.46	17.27	19.3	24.21	23.76	17.97	24.6	26.84	10.33	18.29	25.65	20.92
Price/Cash Flow Low	17.75	19.44	17.61	18.94	14.06	13.84	18.92	17.97	14.3	13.51	17.3	6.59	14.57	21.33	13.56
Price/Free Cash Flow Average	19.11	20.12	18.32	18.16	14.71	15.31	17.78	19.96	15.74	19.52	22.03	7.71	15.78	22.47	15.52
Price/Free Cash Flow High	22.57	24.09	21.05	20.23	16.13	17.49	20.55	22.41	17.27	23.29	26.08	10.01	17.75	24.42	19.94
Price/Free Cash Flow Low	15.37	17.35	15.63	16.33	13.13	12.54	16.05	16.94	13.74	12.78	16.81	6.39	14.14	20.3	12.92
EV/Sales Average	1.43	1.18	1.18	1.13	1.23	1.31	1.33	1.38	1.49	1.3	1.12	0.9	1.74	1.56	1.41
EV/Sales High	1.73	1.46	1.38	1.27	1.36	1.52	1.56	1.56	1.64	1.57	1.33	1.2	1.97	1.7	1.84
EV/Sales Low	1.11	0.99	0.98	1	1.08	1.04	1.18	1.15	1.28	0.81	0.83	0.73	1.54	1.4	1.17
EV/EBITDA Average	13.43	12.42	11.93	11.49	10.58	11.12	12.26	13.17	14.44	12.46	9.4	8.2	16.02	14.97	14.11
EV/EBITDA High	16.23	15.3	14.02	12.95	11.7	12.9	14.39	14.92	15.94	15.07	11.25	10.89	18.14	16.31	18.31
EV/EBITDA Low	10.42	10.41	9.88	10.18	9.33	8.86	10.93	11.01	12.47	7.78	7.02	6.65	14.25	13.47	11.63
EV/EBIT Average	14.23	13.36	12.97	12.44	11.25	11.9	13.12	14.06	15.4	13.21	9.65	8.46	17.17	15.84	14.87
EV/EBIT High	17.19	16.46	15.24	14.03	12.45	13.8	15.4	15.93	17	15.98	11.55	11.23	19.44	17.26	19.3
EV/EBIT Low	11.04	11.19	10.74	11.03	9.93	9.48	11.7	11.76	13.3	8.25	7.21	6.86	15.28	14.26	12.26
Last Price	40.96	39.55	44.25	44.61	45.1	52.96	64.69	68.09	78.02	95.11	134.29	103.92	127.2	110.77	149.01
High Price	56.19	47.48	46.9	47.24	51.8	56.37	66.01	78.16	81.15	95.73	137.8	134.96	129.14	131.59	155.04
Enterprise Value Average	8,801	7,091	7,162	7,396	8,119	7,973	9,189	11,199	11,806	12,424	18,430	15,431	16,139	16,498	15,647
Enterprise Value High	10,631	8,735	8,415	8,342	8,982	9,247	10,784	12,687	13,032	15,029	22,051	20,488	18,276	17,977	20,315
Enterprise Value Low	6,826	5,940	5,929	6,557	7,163	6,354	8,195	9,368	10,197	7,760	13,766	12,520	14,361	14,852	12,904

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	212	206	203	192	182	180	176	172	170	169	167	154	144	138	134
Diluted Weighted Avg Shares	215	212	207	197	190	183	182	178	174	171	171	164	150	142	136
Basic Weighted Avg Shares	212	210	206	196	189	181	179	174	171	168	169	163	149	141	136
Revenue per Share	29.05	28.48	29.52	33.47	35.02	33.64	38.61	46.74	46.47	56.94	97.69	104.73	62.36	75.19	81.5
EBITDA per Share	3.09	2.71	2.91	3.28	4.06	3.95	4.18	4.88	4.78	5.93	11.59	11.54	6.76	7.82	8.17
Operating Income per Share	2.92	2.52	2.68	3.03	3.82	3.7	3.91	4.57	4.49	5.59	11.29	11.19	6.3	7.39	7.75
Basic EPS, GAAP	1.82	1.58	1.69	1.92	2.42	2.38	2.73	3.55	3.45	4.14	8.37	8.33	5.05	5.75	5.97
Basic EPS from Cont Ops	1.82	1.58	1.7	1.93	2.43	2.39	2.74	3.56	3.46	4.15	8.39	8.35	5.04	5.76	5.98
Diluted EPS, GAAP	1.79	1.57	1.68	1.92	2.4	2.36	2.69	3.48	3.39	4.07	8.27	8.26	5.01	5.72	5.95
Diluted EPS from Cont Ops	1.8	1.57	1.69	1.93	2.42	2.37	2.7	3.49	3.4	4.09	8.29	8.27	5.01	5.73	5.96
Dividend per Share	0.5	0.56	0.6	0.64	0.72	0.8	0.84	0.9	1	1.04	1.16	1.31	1.35	1.45	1.53
Cash Flow per Share	2.16	1.76	1.98	2.01	3	2.92	2.73	3.29	4.52	3.89	5.13	13.06	7.06	5.13	7.41
Free Cash Flow per Basic Share	1.79	1.53	1.72	1.68	2.76	2.59	2.2	3.02	4.24	3.61	4.92	12.53	6.8	4.84	7.02
Cash & Equivalents per Share	6.1	5.99	6.18	4.93	4.28	5.38	5.86	5.3	7.2	9.08	10.22	12.48	10.14	8.14	9.68
Book Value per Share	9.4	9.6	10.14	9.71	9.38	10.74	11.52	12	13.59	15.46	21.41	20.32	17.32	17.42	18.7
Tangible Book Value per Share	9.44	9.62	10.09	9.5	8.93	10.15	11.08	11.37	12.81	15.77	20.63	19.05	15.98	15.73	17.3

Expeditors International of Washington, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)