Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
EXPD'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.29 Med: 2.43 Max: 3.42
Current: 3.42
During the past 13 years, the highest Price to Graham Number ratio of Expeditors International of Washington was 3.42. The lowest was 1.29. And the median was 2.43.
EXPD's Price-to-Graham-Number is ranked worse than 91.52% of 743
companies
in the Transportation industry
Industry Median: 1.02
vs EXPD: 3.42
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Expeditors International of Washington (NYSE:EXPD) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Expeditors International of Washington's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
167.57
/
48.97
=
3.42
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Expeditors International of Washington Graham Number Related Terms
Expeditors International of Washington Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Expeditors International of Washington Graham Number Chart
Expeditors International of Washington Annual Data
For the Integrated Freight & Logistics subindustry, Expeditors International of Washington's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Expeditors International of Washington Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Expeditors International of Washington's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Expeditors International of Washington's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Expeditors International of Washington (EXPD) has a Graham Number of $48.97 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Expeditors International of Washington and its competitors. This is 1915% above median its historical median of 2.43. Over the past decade, Expeditors International of Washington's Graham Number has ranged from 1.29 to 3.42. According to the industry distribution chart, Expeditors International of Washington ranks #680 out of 743 companies in the Transportation industry, placing it in the top 91.5%.
Is Expeditors International of Washington's Graham Number too high?
Expeditors International of Washington's current Graham Number of $48.97 is 1915% above median its 10-year median of 2.43. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 3.42. The Transportation industry median Graham Number is 1.02. Expeditors International of Washington's value of $48.97 is 4701% above this industry median. Based on the distribution chart, Expeditors International of Washington ranks #680 out of 743 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Expeditors International of Washington has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Expeditors International of Washington's Graham Number compare to CHRW and FDXF?
According to the Transportation industry distribution chart, Expeditors International of Washington ranks #680 out of 743 companies for Graham Number. This places Expeditors International of Washington in the lower half of its industry. The industry median Graham Number is 1.02. Expeditors International of Washington's value of $48.97 is 4701% above this benchmark. Historically, Expeditors International of Washington's own Graham Number has ranged from 1.29 to 3.42 over the past decade. While the company's 10-year median is 2.43 vs. the industry median of 1.02, Expeditors International of Washington has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Transportation company?
The median Graham Number among Transportation companies is 1.02, based on 743 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Expeditors International of Washington's current Graham Number of $48.97 is 4701% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Expeditors International of Washington and its competitors. For the Transportation industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Expeditors International of Washington's current Graham Number is $48.97, which is 1915% above median its own 10-year median of 2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Expeditors International of Washington stock overvalued right now?
Based on GuruFocus' analysis, Expeditors International of Washington (EXPD) is currently considered Modestly Overvalued. The stock's GF Value™ is $146.25, compared to a current price of $167.57 — trading 14.6% above its estimated fair value. The current Graham Number is $48.97, which is 1915% above median its 10-year median of 2.43 and 4701% above the Transportation industry median of 1.02. Expeditors International of Washington's overall GF Score™ is 77/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Expeditors International of Washington (EXPD), the current Graham Number is $48.97 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Expeditors International of Washington (EXPD) Overvalued in 2026?
Based on GuruFocus' analysis, Expeditors International of Washington stock appears to be overvalued.
The current stock price of $167.57 is trading 14.6% above its estimated GF Value™ of $146.25.
GuruFocus considers Expeditors International of Washington to be Modestly Overvalued.
Key valuation signals for EXPD:
Graham Number: $48.97 (1915% above median its 10-year median of 2.43)
GF Value™: $146.25 vs. price of $167.57 (14.6% above fair value)
Industry Position: 4701% above the Transportation median (#680 of 743)
No single metric tells the full story. See the EXPD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Expeditors International of Washington Business Description
Based in the US, Expeditors International of Washington is a non-asset-based third-party logistics provider, mainly focused on international freight forwarding. Its offers freight consolidation and forwarding, customs brokerage, warehousing and distribution, purchase order management, vendor consolidation, and numerous other value-added logistics services. It employs sophisticated IT systems and contracts with airlines and ocean carriers to move customers' freight across the globe. The firm operates more than 200 full-service office locations worldwide, in addition to numerous satellite locations. In 2025, Expeditors derived 36% of consolidated gross revenue from airfreight, 25% from ocean freight, and 39% from customs brokerage and other services.
77GF Score
Get the complete analysis for EXPD
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
EXPD has been successfully added to your 
