Expeditors International of Washington (EXPD) FY2017 results: revenue $6.9 billion, up 13.5% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $6.9 billion for fiscal 2017, the year ended 31 December 2017, up 13.5% on the year before. Net income was $489 million, up 13.6%, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$6.9 billion
+13.5% on the year
FY2010FY2017
Operating margin
10.1%
11.0% a year earlier
FY2010FY2017
Net income
$489 million
+13.6% on the year
FY2010FY2017
Diluted EPS
$2.69
+14.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,921
6,098
6,617
+13.5%
Operating income
700
670
721
+4.5%
Operating margin
10.1%
11.0%
10.9%
Pre-tax income
719
687
737
+4.6%
Income tax
228
254
277
-10.3%
Effective tax rate
31.8%
37.0%
37.6%
Net income
489
431
457
+13.6%
Net margin
7.1%
7.1%
6.9%
Diluted EPS
$2.69
$2.36
$2.40
+14.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
489
529
567
-7.6%
Capital expenditure
95.0
59.3
44.4
+60.2%
Free cash flow
394
470
522
-16.2%
Free cash flow margin
5.7%
7.7%
7.9%
Cash from investing
-11.7
-53.2
-7.4
Cash from financing
-425
-298
-637
Depreciation and amortisation
49.3
46.8
46.0
+5.4%
Share-based compensation
50.9
45.2
43.4
+12.6%
Buybacks
478
338
630
+41.6%
Dividends paid
150
145
136
+3.7%
Dividend per share
$0.84
$0.80
$0.72
+5.0%
Diluted shares, weighted
182m
183m
190m
-0.6%
Shares outstanding at period end
176m
180m
182m
-1.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,992
1,845
1,692
+8.0%
Non-controlling interest
2.5
2.6
2.7
-2.3%
Debt
0.0
0.0
0.0
Other liabilities
1,123
944
871
+19.0%
Total liabilities and equity
3,117
2,791
2,566
+11.7%
Fixed assets
525
537
525
-2.1%
Goodwill
7.9
7.9
7.9
0.0%
Investments
n/a
n/a
0.0
Cash and equivalents
1,051
974
808
+7.9%
Receivables
1,415
1,190
1,112
+18.9%
Other assets
118
81.8
113
+44.3%
Total assets
3,117
2,791
2,566
+11.7%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.