Expeditors International of Washington Inc (EXPD)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	752,883	1,357,400	1,415,490	696,140	590,395
Total stockholders’ equity	US$ in thousands	2,390,350	3,110,020	3,494,430	2,659,640	2,195,030
ROE		31.50%	43.65%	40.51%	26.17%	26.90%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $752,883K ÷ $2,390,350K
= 31.50%

Expeditors International Of Washington, Inc.'s return on equity (ROE) has experienced fluctuations over the past five years. The ROE decreased from 26.90% in 2019 to 26.17% in 2020 before showing an improvement to 40.51% in 2021. However, there was a slight decline to 43.65% in 2022 and a further decrease to 31.50% in 2023.

The fluctuations in ROE may indicate changes in how efficiently the company is generating profits from its shareholder's equity. A high ROE generally suggests that the company is effectively utilizing its equity to generate profits, while a declining ROE could signify less efficient operations or increased equity base.

It would be beneficial to conduct further analysis to understand the underlying reasons for these fluctuations in ROE and assess the company's overall financial performance and operational efficiency.