Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Expeditors International of Washington's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 81.29%.
EXPD'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 66.01 Med: 75.83 Max: 102.26
Current: 72.63
During the past 13 years, Expeditors International of Washington's highest ROC (Joel Greenblatt) % was 102.26%. The lowest was 66.01%. And the median was 75.83%.
EXPD's ROC (Joel Greenblatt) % is ranked better than 93.07% of 996
companies
in the Transportation industry
Industry Median: 11.695
vs EXPD: 72.63
Expeditors International of Washington (NYSE:EXPD) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* 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 ROC (Joel Greenblatt) % Chart
Expeditors International of Washington Annual Data
EXPD vs CHRW, FDXFw, ZTO: ROC (Joel Greenblatt) % Comparison
For the Integrated Freight & Logistics subindustry, Expeditors International of Washington's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Transportation Industry
For the Transportation industry and Industrials sector, Expeditors International of Washington's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Expeditors International of Washington's ROC (Joel Greenblatt) % falls into.
Expeditors International of Washington ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.
What does a ROC (Joel Greenblatt) % of 81.29% mean?
Expeditors International of Washington (EXPD) has a ROC (Joel Greenblatt) % of 81.29% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Expeditors International of Washington and its competitors. This is near median its historical median of 75.83. Over the past decade, Expeditors International of Washington's ROC (Joel Greenblatt) % has ranged from 66.01 to 102.26. According to the industry distribution chart, Expeditors International of Washington ranks #69 out of 996 companies in the Transportation industry, placing it in the top 6.9%.
Is Expeditors International of Washington's ROC (Joel Greenblatt) % too high?
Expeditors International of Washington's current ROC (Joel Greenblatt) % of 81.29% is near median its 10-year median of 75.83. Over the past 10 years, this metric has ranged from a low of 66.01 to a high of 102.26. The Transportation industry median ROC (Joel Greenblatt) % is 11.70. Expeditors International of Washington's value of 81.29% is 595.1% above this industry median. Based on the distribution chart, Expeditors International of Washington ranks #69 out of 996 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Expeditors International of Washington has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Expeditors International of Washington's ROC (Joel Greenblatt) % compare to CHRW and FDXFw?
According to the Transportation industry distribution chart, Expeditors International of Washington ranks #69 out of 996 companies for ROC (Joel Greenblatt) %. This places Expeditors International of Washington in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 11.70. Expeditors International of Washington's value of 81.29% is 595.1% above this benchmark. Historically, Expeditors International of Washington's own ROC (Joel Greenblatt) % has ranged from 66.01 to 102.26 over the past decade. While the company's 10-year median is 75.83 vs. the industry median of 11.70, 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 ROC (Joel Greenblatt) % for a Transportation company?
The median ROC (Joel Greenblatt) % among Transportation companies is 11.70, based on 996 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Expeditors International of Washington's current ROC (Joel Greenblatt) % of 81.29% is 595.1% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Expeditors International of Washington and its competitors. For the Transportation industry, the median ROC (Joel Greenblatt) % is 11.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Expeditors International of Washington's current ROC (Joel Greenblatt) % is 81.29%, which is near median its own 10-year median of 75.83. 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 Fairly Valued. The stock's GF Value™ is $146.04, compared to a current price of $160.73 — trading 10.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 81.29%, which is near median its 10-year median of 75.83 and 595.1% above the Transportation industry median of 11.70. Expeditors International of Washington's overall GF Score™ is 78/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Expeditors International of Washington (EXPD), the current ROC (Joel Greenblatt) % is 81.29% 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 $160.73 is trading 10.1% above its estimated GF Value™ of $146.04.
GuruFocus considers Expeditors International of Washington to be Fairly Valued.
Key valuation signals for EXPD:
ROC (Joel Greenblatt) %: 81.29% (near median its 10-year median of 75.83)
GF Value™: $146.04 vs. price of $160.73 (10.1% above fair value)
Industry Position: 595.1% above the Transportation median (#69 of 996)
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.
78GF Score
Get the complete analysis for EXPD
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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