Expeditors International of Washington, Inc. (EXPD)
Expeditors International provides global freight forwarding and customs-brokerage logistics.
EXPD vs UPS: how the two businesses compare
- Bigger business: UPS, with $88.7B of yearly revenue, about 8.0× EXPD's $11.1B.
- More profitable: EXPD keeps 7 cents of each sales dollar as profit, against 6 cents at UPS.
- More cash from each sale: UPS turns 10 cents of each sales dollar into operating cash flow, against 9 cents at EXPD.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
United Parcel Service (UPS) is the larger business by reported revenue: $88.7B in its fiscal year ended Dec 2025, about 8.0× EXPD's $11.1B (fiscal year ended Dec 2025). EXPD's net margin was 7.3% and UPS's 6.3%. The SEC classifies them differently (Arrangement of Transportation of Freight & Cargo; Trucking & Courier Services (No Air)); what connects them is shared exposure to the Tariffs & trade research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Industrials
- Different
- Separate classifications
- December 31
- Same calendar
- Feb 25, 2026
EXPD vs UPS: quick comparison
| Company fact | EXPD | UPS |
|---|---|---|
| Company | Expeditors International of Washington, Inc. | United Parcel Service, Inc. |
| Exchange | NASDAQ | NYSE |
| Headquarters | — | Atlanta, Georgia |
| Founded | — | 1907 |
| SEC industry | Arrangement of Transportation of Freight & Cargo | Trucking & Courier Services (No Air) |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-25 | 10-K · 2026-02-17 |
EXPD vs UPS: audited financials
- Scale: UPS's $88.7B of revenue is about 8.0× EXPD's $11.1B.
- Net margin: EXPD kept 7.3% of revenue as net income versus 6.3% at UPS.
- Cash conversion: operating cash flow equalled EXPD 9.1% of revenue, or 1.24× net income; UPS 9.5% of revenue, or 1.52× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | EXPD | UPS |
|---|---|---|
| Revenue | $11.1B2025-01-01 to 2025-12-31 · SEC filing | $88.7B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $810M2025-01-01 to 2025-12-31 · SEC filing | $5.6B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $1.0B2025-01-01 to 2025-12-31 · SEC filing | $8.4B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $5.952025-01-01 to 2025-12-31 · SEC filing | $6.562025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 7.3%2025-01-01 to 2025-12-31 · SEC filing | 6.3%2025-01-01 to 2025-12-31 · SEC filing |
EXPD: FY ending 2025-12-31 · UPS: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where EXPD and UPS overlap, and where they don't
Overlap
- Shared research theme: Tariffs & trade.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different SEC industries: EXPD files as Arrangement of Transportation of Freight & Cargo; UPS as Trucking & Courier Services (No Air).
- Only EXPD maps to International markets.
- Only UPS maps to Economic trends.
- Scale: UPS reported about 8.0× the annual revenue of EXPD.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
United Parcel Service, Inc. (UPS)
UPS is a global package-delivery and supply-chain company whose volumes reflect the health of e-commerce and trade. It has emphasized higher-value shipments over sheer volume to protect margins.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves EXPD
We have not yet published a company-specific driver list for EXPD. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-25.
What moves UPS
We have not yet published a company-specific driver list for UPS. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-17.
The investment question
You now know UPS reports about 8.0× EXPD's revenue, and EXPD keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to tariffs & trade, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 1 matched transaction row for EXPD and 50 matched transaction rows for UPS. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
EXPD primary filings
UPS primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving EXPD or UPS
EXPD vs UPS FAQs
Are EXPD and UPS direct competitors?
Not necessarily. Expeditors International of Washington files as Arrangement of Transportation of Freight & Cargo and United Parcel Service as Trucking & Courier Services (No Air). The pair is compared because both map to the Tariffs & trade research theme, not because the filings show head-to-head competition.
Is EXPD or UPS the bigger company by revenue?
United Parcel Service (UPS) is the larger business by reported revenue: $88.7B in its fiscal year ended Dec 2025, about 8.0× EXPD's $11.1B (fiscal year ended Dec 2025). EXPD's net margin was 7.3% and UPS's 6.3%. The SEC classifies them differently (Arrangement of Transportation of Freight & Cargo; Trucking & Courier Services (No Air)); what connects them is shared exposure to the Tariffs & trade research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, EXPD or UPS?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this EXPD vs UPS comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Expeditors International of Washington, Inc. and United Parcel Service, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
EXPD vs UPS compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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