Expeditors International of Washington Inc (EXPD)

Financial leverage ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	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	3,691,880	3,706,450	3,646,990	3,642,910
Total stockholders’ equity	US$ in thousands	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	2,195,030	2,207,380	2,050,970	2,124,270
Financial leverage ratio		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	1.68	1.68	1.78	1.71

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,523,810K ÷ $2,390,350K
= 1.89

Expeditors International Of Washington, Inc.'s financial leverage ratio has exhibited some fluctuations over the past eight quarters. The ratio ranged from 1.69 to 2.09 during this period, indicating changes in the company's capital structure and debt levels. A higher financial leverage ratio suggests a higher proportion of debt used to finance the company's assets, which can amplify returns but also increases financial risk.

The company's financial leverage ratio peaked in Q2 2022 at 2.09, which may have signaled a higher reliance on debt financing during that period. However, it decreased steadily over the next two quarters to 1.69 in Q1 2023, indicating a potential reduction in debt or increase in equity in their capital structure. Subsequently, the ratio increased gradually to reach 1.89 in Q4 2023, indicating a moderate uptick in debt usage compared to the previous quarters.

Overall, the financial leverage ratio of Expeditors International Of Washington, Inc. has shown some volatility over the analyzed period, suggesting variations in the company's capital structure and risk profile. Investors and stakeholders may monitor these changes to gauge the company's leverage and assess its financial stability and growth prospects.