Expeditors International of Washington, Inc. (EXPD)

Debt-to-equity ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	2,223,010	2,390,350	3,110,020	3,494,430	2,659,640
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $2,223,010K
= 0.00

Expeditors International of Washington, Inc. has maintained a consistent debt-to-equity ratio of 0.00 throughout the five-year period from December 31, 2020, to December 31, 2024. A debt-to-equity ratio of 0.00 typically indicates that the company has zero debt in relation to its equity, suggesting a conservative capital structure and a lower financial risk. This may imply that Expeditors International of Washington, Inc. relies more on equity financing rather than debt to fund its operations and growth, which could be viewed positively by creditors and investors due to the lower risk associated with debt repayment obligations.