Expeditors International of Washington, Inc. (EXPD)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Total assets	US$ in thousands	4,754,460	5,170,920	4,788,340	4,488,270	4,523,810	4,578,120	4,564,040	5,332,580	5,590,430	6,607,530	7,361,140	7,955,990	7,609,930	7,076,380	5,953,170	5,455,000	4,927,500	4,358,550	3,810,180	3,509,970
Total stockholders’ equity	US$ in thousands	2,223,010	2,356,710	2,176,420	2,195,460	2,390,350	2,489,780	2,555,930	3,147,170	3,110,020	3,482,180	3,525,250	3,843,390	3,494,430	3,417,360	3,079,450	2,874,790	2,659,640	2,502,030	2,159,120	2,034,810
Financial leverage ratio		2.14	2.19	2.20	2.04	1.89	1.84	1.79	1.69	1.80	1.90	2.09	2.07	2.18	2.07	1.93	1.90	1.85	1.74	1.76	1.72

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,754,460K ÷ $2,223,010K
= 2.14

The financial leverage ratio of Expeditors International of Washington, Inc. has shown a fluctuating trend over the periods from March 31, 2020, to December 31, 2024. The ratio increased from 1.72 in March 2020 to 2.18 in December 2021, indicating an increase in the company's reliance on debt to finance its operations during this period.

Subsequently, the ratio experienced some fluctuations, reaching a peak of 2.20 on June 30, 2024, before slightly decreasing to 2.14 by December 31, 2024. These fluctuations suggest that the company may have been actively managing its debt levels during these periods.

Overall, the upward trend in the financial leverage ratio from 2020 to 2021 followed by slight fluctuations in subsequent years indicates potential shifts in the company's capital structure and financing decisions. It is essential for stakeholders to monitor these changes to assess the company's solvency, risk, and financial health.