Expeditors International of Washington (EXPD) FY2019 results: revenue $7.9 billion, down 2.4% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $7.9 billion for fiscal 2019, the year ended 31 December 2019, down 2.4% on the year before. Net income was $590 million, down 4.5%, and diluted earnings per share $3.39. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$7.9 billion
-2.4% on the year
FY2012FY2019
Operating margin
9.7%
9.8% a year earlier
FY2012FY2019
Net income
$590 million
-4.5% on the year
FY2012FY2019
Diluted EPS
$3.39
-2.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
7,942
8,138
6,921
-2.4%
Operating income
767
797
700
-3.7%
Operating margin
9.7%
9.8%
10.1%
Pre-tax income
796
818
719
-2.8%
Income tax
204
199
228
+2.6%
Effective tax rate
25.6%
24.3%
31.8%
Net income
590
618
489
-4.5%
Net margin
7.4%
7.6%
7.1%
Diluted EPS
$3.39
$3.48
$2.69
-2.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
772
573
489
+34.8%
Capital expenditure
47.0
47.5
95.0
-1.0%
Free cash flow
725
525
394
+38.0%
Free cash flow margin
9.1%
6.5%
5.7%
Cash from investing
-46.0
-48.4
-11.7
Cash from financing
-418
-628
-425
Depreciation and amortisation
51.0
54.0
49.3
-5.7%
Share-based compensation
61.5
56.1
50.9
+9.6%
Buybacks
389
648
478
-40.0%
Dividends paid
171
157
150
+8.7%
Dividend per share
$1.00
$0.90
$0.84
+11.1%
Diluted shares, weighted
174m
178m
182m
-2.0%
Shares outstanding at period end
170m
172m
176m
-1.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,195
1,987
1,992
+10.5%
Non-controlling interest
2.2
0.9
2.5
+148.4%
Debt
0.0
0.0
0.0
Operating lease liabilities
326
0.0
n/a
Other liabilities
1,168
1,327
1,123
-11.9%
Total liabilities and equity
3,692
3,315
3,117
+11.4%
Fixed assets
499
504
525
-0.9%
Goodwill
7.9
7.9
7.9
0.0%
Cash and equivalents
1,230
924
1,051
+33.2%
Receivables
1,315
1,582
1,415
-16.8%
Other assets
639
297
118
+115.0%
Total assets
3,692
3,315
3,117
+11.4%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.