EXPD Expeditors International of Washington, Inc. Common Stock
About Expeditors International of Washington, Inc. Common Stock Company overview from Wikipedia
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
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Expeditors International of Washington, Inc. (commonly referred to as Expeditors) is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
As a service-based company, Expeditors does not own the aircraft, ships, or trucks used every day.
Financial information
Expeditors became a publicly traded company in 1984 with the listing of its shares on NASDAQ under the ticker symbol EXPD and were named to the NASDAQ-100 in 2002. In November 2023, Expeditors transferred the listing of its common stock to the New York Stock Exchange NYSE, keeping the same symbol "EXPD". During their first year as a public company, Expeditors reported more than $50 million in gross revenues and $2.1 million in net earnings. Expeditors was #299 on the 2021 Fortune 500. Total revenues exceeded 10 billion ($10.116 billion) in 2021.
The company became known for its unusually candid written responses to analyst questions in SEC Form 8-K filings. Some commentators have suggested the filings were written personally by CEO Peter Rose, as well as its responses to questions submitted to the company, which are placed on Expeditors' investor website. Rose announced his retirement in March 2014 as CEO, with his retirement as Chairman effective May 2015.
Compensation structure
Expeditors maintains a compensation structure that is unique to the logistics industry. According to their 2003 annual report, "Each of the Company's branches are independent profit centers and the primary compensation for the branch management group comes in the form of incentive-based compensation calculated directly from the operating income of that branch. This compensation structure ensures that the allocation of revenue and expense among components of services [...] are done in an objective manner on a fair value basis."
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
EXPD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
EXPD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| June 1, 2026 | $0.8100 |
| Dec. 1, 2025 | $0.7700 |
| June 2, 2025 | $0.7700 |
| Dec. 2, 2024 | $0.7300 |
| June 3, 2024 | $0.7300 |
| Nov. 30, 2023 | $0.6900 |
| May 31, 2023 | $0.6900 |
| Nov. 30, 2022 | $0.6700 |
| May 31, 2022 | $0.6700 |
| Nov. 30, 2021 | $0.5800 |
| May 28, 2021 | $0.5800 |
| Nov. 30, 2020 | $0.5200 |
| May 29, 2020 | $0.5200 |
| Nov. 29, 2019 | $0.5000 |
| May 31, 2019 | $0.5000 |
| Nov. 30, 2018 | $0.4500 |
| May 31, 2018 | $0.4500 |
| Nov. 30, 2017 | $0.4200 |
| May 30, 2017 | $0.4200 |
| Nov. 29, 2016 | $0.4000 |
EXPD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 1 4.5%
- Buy 1 4.5%
- Hold 12 54.5%
- Sell 6 27.3%
- Strong Sell 2 9.1%
12-Month Price Target
14 analysts · 2026-08-14Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.03 | $1.72 | 0.31% |
| March 31, 2026 | $1.71 | $1.35 | 0.35% |
| Dec. 31, 2025 | $1.49 | $1.49 | -0.00% |
| Sept. 30, 2025 | $1.64 | $1.43 | 0.21% |
| June 30, 2025 | $1.34 | $1.26 | 0.08% |
| March 31, 2025 | $1.47 | $1.40 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EXPD | $19.95B | 25.0 | 4.4% | 7.3% | 35.4% | — |
| UPS | — | 15.1 | -2.6% | 6.3% | 33.8% | — |
| FDX | — | 17.9 | 7.7% | 4.7% | 14.8% | — |
| CHRW | $19.04B | 33.3 | -8.4% | 3.6% | 32.4% | — |
| GXO | $6.03B | 188.0 | 12.6% | 0.24% | 1.1% | — |
| HUBG | — | 26.2 | -6.1% | 2.6% | 6.3% | — |
| FWRD | $783M | -7.1 | 0.84% | -4.3% | -68.4% | — |
| AIRTP | $52M | 0.7 | 12.1% | 23.8% | 203.6% | — |
| AIRT | $46M | -7.6 | 1.8% | -2.1% | -790.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.07B | $10.60B | $9.30B | $17.07B | $16.52B | $9.58B | $7.94B | $8.14B | $6.92B | $6.10B | $6.62B | $6.56B | |
| Operating Expenses | $10.02B | $9.56B | $8.36B | $15.25B | $14.61B | $8.64B | $7.18B | $7.34B | $6.22B | $5.43B | $5.90B | $5.97B | |
| Operating Income | $1.05B | $1.04B | $940M | $1.82B | $1.91B | $940M | $767M | $797M | $700M | $670M | $721M | $595M | |
| Interest Expense | · | · | $5M | $23M | $411.0K | $219.0K | · | · | · | · | · | · | |
| Interest Income | $36M | $47M | $70M | $26M | $9M | $10M | $23M | $19M | $13M | $12M | $10M | $11M | |
| Other Non-op | $6M | $7M | $5M | $-14M | $7M | $6M | $6M | $3M | $5M | $5M | $5M | $5M | |
| Pretax Income | $1.09B | $1.09B | $1.02B | $1.84B | $1.92B | $957M | $796M | $818M | $719M | $687M | $737M | $611M | |
| Income Tax | $282M | $283M | $263M | $475M | $506M | $258M | $204M | $199M | $228M | $254M | $277M | $231M | |
| Net Income | $810M | $810M | $753M | $1.36B | $1.42B | $696M | $590M | $618M | $489M | $431M | $457M | $377M | |
| EPS (Basic) | $5.97 | $5.75 | $5.05 | $8.33 | $8.37 | $4.14 | $3.45 | $3.55 | $2.73 | $2.38 | $2.42 | $1.92 | |
| EPS (Diluted) | $5.95 | $5.72 | $5.01 | $8.26 | $8.27 | $4.07 | $3.39 | $3.48 | $2.69 | $2.36 | $2.40 | $1.92 | |
| Shares (Basic) | 135,810,000 | 140,992,000 | 149,141,000 | 163,010,000 | 169,145,000 | 168,333,000 | 170,899,000 | 174,133,000 | 179,247,000 | 181,282,000 | 188,941,000 | 196,147,000 | |
| Shares (Diluted) | 136,249,000 | 141,722,000 | 150,186,000 | 164,427,000 | 171,250,000 | 170,896,000 | 174,209,000 | 177,833,000 | 181,666,000 | 182,704,000 | 190,223,000 | 196,768,000 | |
| EBITDA | $1.11B | $1.10B | $1.01B | $1.88B | $1.96B | $997M | $818M | $851M | $750M | $717M | $767M | $644M |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.31B | $1.15B | $1.51B | $2.03B | $1.73B | $1.53B | $1.23B | $924M | $1.05B | $974M | $808M | $927M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | $40.0K | $40M | |
| Receivables | $2.02B | $2.00B | $1.53B | $2.11B | $3.81B | $2.00B | $1.32B | $1.58B | $1.41B | $1.19B | $1.11B | $1.24B | |
| Prepaid Expense | $136M | $164M | $171M | $119M | $109M | $110M | $93M | $70M | $76M | $54M | $56M | $65M | |
| Current Assets | $3.76B | $3.66B | $3.44B | $4.52B | $6.64B | $3.96B | $2.77B | $2.73B | $2.54B | $2.22B | $1.98B | $2.29B | |
| PP&E (Net) | $462M | $449M | $479M | $502M | $488M | $506M | $499M | $504M | $525M | $537M | $525M | $538M | |
| PP&E (Gross) | $1.11B | $1.06B | $1.08B | $1.07B | $1.03B | $1.02B | $978M | $951M | $945M | $943M | $910M | $910M | |
| Accum. Depreciation | $651M | $616M | $597M | $568M | $542M | $517M | $479M | $447M | $420M | $407M | $385M | $372M | |
| Goodwill | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | |
| Total Assets | $4.89B | $4.75B | $4.52B | $5.59B | $7.61B | $4.93B | $3.69B | $3.31B | $3.12B | $2.79B | $2.57B | $2.87B | |
| Accounts Payable | $1.12B | $1.04B | $861M | $1.11B | $2.01B | $1.14B | $736M | $902M | $866M | $727M | $645M | $770M | |
| Accrued Liabilities | $448M | $452M | $447M | $479M | $404M | $257M | $189M | $216M | $206M | $186M | $187M | $192M | |
| Current Liabilities | $2.07B | $2.07B | $1.70B | $2.05B | $3.73B | $1.89B | $1.17B | $1.33B | $1.09B | $930M | $861M | $984M | |
| Capital Leases | $460M | $462M | $428M | $423M | $386M | $364M | $326M | $0 | · | · | · | · | |
| Deferred Tax | $3M | $0 | · | · | · | $7M | $0 | · | $0 | $14M | $10M | $15M | |
| Common Stock | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Paid-in Capital | · | · | · | · | · | · | · | $2M | $546.0K | $3M | $31.0K | $1M | |
| Retained Earnings | $2.54B | $2.46B | $2.58B | $3.31B | $3.62B | $2.60B | $2.32B | $2.09B | $2.06B | $1.94B | $1.77B | $1.90B | |
| Stockholders' Equity | $2.36B | $2.22B | $2.39B | $3.11B | $3.49B | $2.66B | $2.20B | $1.99B | $1.99B | $1.84B | $1.69B | $1.87B | |
| Liabilities + Equity | $4.89B | $4.75B | $4.52B | $5.59B | $7.61B | $4.93B | $3.69B | $3.31B | $3.12B | $2.79B | $2.57B | $2.89B | |
| Shares Outstanding | 133,884,000 | 138,003,000 | 143,866,000 | 154,313,000 | 167,210,000 | 169,294,000 | 169,622,000 | 171,582,000 | 176,374,000 | 179,857,000 | 182,067,000 | 191,656,000 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $57M | $61M | $68M | $57M | $51M | $57M | $51M | $54M | $49M | $47M | $46M | $49M | |
| Stock-based Comp | $69M | $64M | $58M | $64M | $69M | $62M | $62M | $56M | $51M | $45M | $43M | $43M | |
| Deferred Tax | $-14M | $-5M | $-23M | $-33M | $-4M | $8M | $4M | $-12M | $-44M | $16M | $18M | $-7M | |
| Other Non-cash | $84M | $-207M | $197M | $684M | $-664M | $-169M | $65M | $-144M | $-57M | $-10M | $63.0K | $-67M | |
| Operating Cash Flow | $1.01B | $723M | $1.05B | $2.13B | $868M | $655M | $772M | $573M | $489M | $529M | $567M | $395M | |
| CapEx | $53M | $40M | $39M | $87M | $36M | $48M | $47M | $47M | $95M | $59M | $44M | $37M | |
| Investing Cash Flow | $-45M | $-41M | $-39M | $-88M | $-37M | $-46M | $-46M | $-48M | $-12M | $-53M | $-7M | $-79M | |
| Stock Repurchased | $667M | $855M | $1.39B | $1.58B | $515M | $332M | $389M | $648M | $478M | $338M | $630M | $551M | |
| Net Stock Activity | $-667M | $-855M | $-1.39B | $-1.58B | $-515M | $-332M | $-389M | $-648M | $-478M | $-338M | $-630M | $-551M | |
| Dividends Paid | $207M | $204M | $202M | $214M | $196M | $175M | $171M | $157M | $150M | $145M | $136M | $125M | |
| Financing Cash Flow | $-802M | $-1.03B | $-1.54B | $-1.68B | $-614M | $-331M | $-418M | $-628M | $-425M | $-299M | $-637M | $-606M | |
| Net Change in Cash | $166M | $-365M | $-521M | $305M | $201M | $297M | $307M | $-127M | $77M | $167M | $-119M | $-321M | |
| Taxes Paid | $265M | $257M | $356M | $567M | $443M | $240M | $222M | $239M | $250M | $254M | $239M | $254M | |
| Free Cash Flow | $953M | $683M | $1.01B | $2.04B | $832M | $607M | $725M | $525M | $394M | $470M | $520M | $357M | |
| Levered FCF | · | · | $1.01B | $2.03B | · | · | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 9.5% | 9.8% | 10.1% | 10.7% | 11.6% | 9.3% | 9.4% | 9.8% | 10.1% | 11.0% | 10.9% | 9.1% | |
| Net Margin | 7.3% | 7.6% | 8.1% | 8.0% | 8.6% | 6.9% | 7.2% | 7.6% | 7.1% | 7.1% | 6.9% | 5.7% | |
| Pretax Margin | 9.9% | 10.3% | 10.9% | 10.8% | 11.7% | 9.5% | 9.7% | 10.1% | 10.4% | 11.3% | 11.1% | 9.3% | |
| EBITDA Margin | 10.0% | 10.4% | 10.8% | 11.0% | 11.9% | 9.9% | 10.0% | 10.4% | 10.8% | 11.8% | 11.6% | 9.8% | |
| ROA | 16.8% | 16.3% | 16.5% | 22.3% | 19.3% | 15.0% | 16.0% | 18.6% | 15.8% | 15.4% | 16.9% | 13.0% | |
| ROE | 35.4% | 35.1% | 27.4% | 41.1% | 46.0% | 28.7% | 28.2% | 31.1% | 25.5% | 24.4% | 25.7% | 19.1% | |
| ROIC | 33.2% | 34.7% | 29.1% | 43.5% | 40.3% | 25.8% | 26.0% | 30.4% | 24.0% | 22.9% | 26.6% | 19.8% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 1.8 | 2.0 | 2.2 | 1.8 | 2.1 | 2.4 | 2.1 | 2.3 | 2.4 | 2.3 | 2.3 | |
| Quick Ratio | 1.6 | 1.5 | 1.8 | 2.0 | 1.5 | 1.9 | 2.2 | 1.9 | 2.3 | 2.3 | 2.2 | 2.2 | |
| Interest Coverage | · | · | 195.8 | 78.4 | · | · | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.3 | 2.1 | 2.0 | 2.8 | 2.3 | 2.2 | 2.2 | 2.4 | 2.2 | 2.2 | 2.4 | 2.3 | |
| Receivables Turnover | 5.5 | 6.0 | 5.1 | 5.8 | 5.7 | 6.1 | 5.6 | 5.4 | 5.3 | 5.3 | 5.6 | 5.7 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 4.4% | 14.0% | -45.5% | 3.3% | 72.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -13.5% | -13.8% | -1.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 2.9% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 4.0% | 14.2% | -39.4% | -0.12% | 103.2% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -10.4% | -11.6% | 7.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 7.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 0.03% | 7.6% | -44.5% | -4.1% | 103.3% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -15.8% | -17.0% | 2.6% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 3.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 3.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $11.07B | $10.60B | $9.30B | $17.07B | $16.52B | $9.58B | $7.94B | $8.14B | $6.92B | $6.10B | $6.62B | $6.56B | |
| Net Income TTM | $810M | $810M | $753M | $1.36B | $1.42B | $696M | $590M | $618M | $489M | $431M | $457M | $377M | |
| Market Cap | $19.95B | $15.29B | $18.30B | $16.04B | $22.45B | $16.10B | $13.23B | $11.68B | $11.41B | $9.53B | $8.21B | $8.55B | |
| P/E | 25.0 | 19.4 | 25.4 | 12.6 | 16.2 | 23.4 | 23.0 | 19.6 | 24.0 | 22.4 | 18.8 | 23.2 | |
| P/S | 1.8 | 1.4 | 2.0 | 0.9 | 1.4 | 1.7 | 1.7 | 1.4 | 1.6 | 1.6 | 1.2 | 1.3 | |
| P/B | 8.5 | 6.9 | 7.7 | 5.2 | 6.4 | 6.1 | 6.0 | 5.9 | 5.7 | 5.2 | 4.9 | 4.6 | |
| P / Tangible Book | 8.5 | 6.9 | 7.7 | 5.2 | 6.4 | 6.1 | · | · | · | · | · | · | |
| P / Cash Flow | 19.8 | 21.1 | 17.4 | 7.5 | 25.9 | 24.6 | 17.1 | 20.4 | 23.3 | 18.0 | 14.5 | 21.6 | |
| P / FCF | 20.9 | 22.4 | 18.0 | 7.8 | 27.0 | 26.5 | 18.3 | 22.2 | 29.0 | 20.3 | 15.8 | 23.9 | |
| Dividend Yield | 1.0% | 1.3% | 1.1% | 1.3% | 0.87% | 1.1% | 1.3% | 1.3% | 1.3% | 1.5% | 1.7% | 1.5% | |
| Earnings Yield | 4.0% | 5.2% | 3.9% | 8.0% | 6.2% | 4.3% | 4.3% | 5.1% | 4.2% | 4.5% | 5.3% | 4.3% | |
| Payout Ratio | 25.6% | 25.2% | 26.8% | 15.8% | 13.8% | 25.1% | 28.9% | 25.4% | 30.8% | 33.7% | 29.7% | 33.1% | |
| Annual Payout | $207M | $204M | $202M | $214M | $196M | $175M | $171M | $157M | $150M | $145M | $136M | $125M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.50B | $2.78B | $2.86B | $2.89B | $2.65B | $2.67B | $2.95B | $3.00B | $2.44B | $2.21B | $2.28B | $2.19B | $2.24B | $2.59B | $3.44B | $4.36B | |
| Operating Expenses | $3.15B | $2.49B | $2.61B | $2.61B | $2.40B | $2.40B | $2.65B | $2.70B | $2.22B | $1.99B | $2.08B | $1.97B | $1.99B | $2.32B | $3.11B | $3.84B | |
| Operating Income | $350M | $295M | $251M | $288M | $248M | $266M | $301M | $302M | $224M | $215M | $199M | $216M | $248M | $276M | $330M | $527M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | $2M | $395.0K | $3M | · | $470.0K | |
| Interest Income | $7M | $9M | $9M | $8M | $9M | $9M | $10M | $10M | $12M | $15M | $17M | $17M | $18M | $19M | $13M | $8M | |
| Other Non-op | $2M | $3M | $2M | $2M | $1M | $839.0K | $2M | $973.0K | $98.0K | $4M | $250.0K | $-1M | $-106.0K | $6M | $-23M | $568.0K | |
| Pretax Income | $358M | $306M | $262M | $298M | $258M | $276M | $313M | $312M | $236M | $233M | $216M | $232M | $266M | $301M | $321M | $535M | |
| Income Tax | $91M | $76M | $61M | $75M | $74M | $72M | $77M | $82M | $61M | $63M | $57M | $61M | $70M | $75M | $106M | $121M | |
| Net Income | $266M | $230M | $201M | $222M | $184M | $204M | $236M | $230M | $175M | $169M | $159M | $171M | $197M | $226M | $219M | $414M | |
| EPS (Basic) | $2.03 | $1.72 | $1.49 | $1.65 | $1.35 | $1.48 | $1.70 | $1.63 | $1.24 | $1.18 | $1.11 | $1.16 | $1.31 | $1.47 | $1.41 | $2.56 | |
| EPS (Diluted) | $2.03 | $1.71 | $1.50 | $1.64 | $1.34 | $1.47 | $1.68 | $1.63 | $1.24 | $1.17 | $1.10 | $1.16 | $1.30 | $1.45 | $1.40 | $2.54 | |
| Shares (Basic) | 130,953,000 | 133,543,000 | -273,245,000 | 134,956,000 | 136,266,000 | 137,833,000 | -283,632,000 | 140,417,000 | 141,013,000 | 143,194,000 | -302,557,000 | 147,099,000 | 150,435,000 | 154,164,000 | -331,610,000 | 162,029,000 | |
| Shares (Diluted) | 131,372,000 | 134,076,000 | -274,102,000 | 135,285,000 | 136,631,000 | 138,435,000 | -285,146,000 | 141,027,000 | 141,716,000 | 144,125,000 | -304,850,000 | 148,001,000 | 151,563,000 | 155,472,000 | -334,513,000 | 163,250,000 | |
| EBITDA | $362M | $309M | · | $302M | $262M | $280M | · | $317M | $239M | $230M | · | $232M | $264M | $291M | · | $542M |
Balance Sheet 19
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.03B | $1.32B | $1.31B | $1.19B | $1.16B | $1.32B | $1.15B | $1.29B | $1.27B | $1.37B | · | $1.64B | $1.70B | $2.35B | · | $2.15B | |
| Receivables | $2.63B | $2.06B | $2.02B | $2.05B | $2.01B | $1.90B | $2.00B | $2.18B | $1.84B | $1.57B | · | $1.46B | $1.42B | $1.60B | · | $2.75B | |
| Prepaid Expense | $85M | $99M | $136M | $176M | $181M | $138M | $164M | $181M | $186M | $153M | · | $190M | $185M | $106M | · | $185M | |
| Current Assets | $4.01B | $3.65B | $3.76B | $3.67B | $3.65B | $3.64B | $3.66B | $4.08B | $3.70B | $3.37B | · | $3.51B | $3.48B | $4.26B | · | $5.59B | |
| PP&E (Net) | $451M | $457M | $462M | $465M | $470M | $454M | $449M | $469M | $461M | $470M | · | $481M | $495M | $500M | · | $481M | |
| PP&E (Gross) | · | · | $1.11B | · | · | · | $1.06B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $665M | $657M | $651M | $647M | $652M | $631M | $616M | $625M | $609M | $604M | · | $580M | $590M | $578M | · | $549M | |
| Goodwill | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | · | $8M | $8M | $8M | · | $8M | |
| Total Assets | $5.13B | $4.78B | $4.89B | $4.78B | $4.79B | $4.76B | $4.75B | $5.17B | $4.79B | $4.49B | $4.52B | $4.58B | $4.56B | $5.33B | $5.59B | $6.61B | |
| Accounts Payable | $1.47B | $1.14B | $1.12B | $1.15B | $1.12B | $1.05B | $1.04B | $1.24B | $1.07B | $927M | · | $846M | $816M | $951M | · | $1.54B | |
| Accrued Liabilities | $608M | $496M | $448M | $427M | $468M | $441M | $452M | $471M | $487M | $434M | · | $424M | $422M | $433M | · | $404M | |
| Current Liabilities | $2.56B | $2.04B | $2.07B | $2.05B | $2.12B | $1.99B | $2.07B | $2.38B | $2.16B | $1.83B | · | $1.67B | $1.58B | $1.76B | · | $2.71B | |
| Capital Leases | $451M | $451M | $460M | $449M | $473M | $479M | $462M | $436M | $449M | $464M | · | $420M | $427M | $422M | · | $410M | |
| Deferred Tax | $3M | $2M | $3M | · | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $2M | · | $2M | |
| Retained Earnings | $2.31B | $2.48B | $2.54B | $2.47B | $2.38B | $2.50B | $2.46B | $2.54B | $2.39B | $2.40B | · | $2.70B | $2.75B | $3.34B | · | $3.74B | |
| Stockholders' Equity | $2.12B | $2.28B | $2.36B | $2.28B | $2.20B | $2.29B | $2.22B | $2.36B | $2.18B | $2.20B | · | $2.49B | $2.56B | $3.15B | · | $3.48B | |
| Liabilities + Equity | $5.13B | $4.78B | $4.89B | $4.78B | $4.79B | $4.76B | $4.75B | $5.17B | $4.79B | $4.49B | · | $4.58B | $4.56B | $5.33B | · | $6.61B | |
| Shares Outstanding | 130,021,000 | 132,024,000 | 133,884,000 | 134,019,000 | 135,134,000 | 136,733,000 | 138,003,000 | 139,971,000 | 140,633,000 | 141,119,000 | 143,866,000 | 145,386,000 | 147,222,000 | 152,712,000 | 154,313,000 | 159,128,000 |
Cash Flow 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $13M | $14M | $14M | $14M | $14M | $15M | $15M | $16M | $15M | $15M | $21M | $16M | $16M | $15M | $15M | $15M | |
| Stock-based Comp | $32M | $13M | $12M | $18M | $27M | $12M | $17M | $10M | $26M | $12M | $11M | $16M | $19M | $12M | $13M | $14M | |
| Deferred Tax | $794.0K | · | $-5M | $-2M | $-8M | $76.0K | $542.0K | $-1M | $-7M | $2M | $-15M | $-6M | $-4M | $2M | $-18M | $-3M | |
| Restructuring | $25M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | $-133M | $53M | · | $-52M | $-38M | $113M | · | $-164M | $-82M | $58M | · | $-6M | $-69M | $291M | · | $230M | |
| Operating Cash Flow | $179M | $309M | $283M | $201M | $179M | $343M | $250M | $90M | $127M | $257M | $158M | $190M | $158M | $546M | $487M | $670M | |
| CapEx | $12M | $13M | $13M | $11M | $16M | $13M | $10M | $12M | $8M | $10M | $11M | $8M | $10M | $10M | $18M | $16M | |
| Investing Cash Flow | $9M | $-12M | $-6M | $-10M | $-16M | $-13M | $-10M | $-13M | $-8M | $-10M | $-11M | $-8M | $-11M | $-10M | $-19M | $-17M | |
| Stock Repurchased | $355M | $288M | $47M | $212M | $231M | $177M | $252M | $140M | $102M | $361M | $194M | $298M | $688M | $214M | $564M | $469M | |
| Net Stock Activity | $-355M | $-288M | · | $-212M | $-231M | $-177M | · | $-140M | $-102M | $-361M | · | $-298M | $-688M | $-214M | · | $-469M | |
| Dividends Paid | $106M | · | $103M | $0 | $104M | · | $101M | $0 | $103M | · | $100M | $0 | $102M | · | $104M | $0 | |
| Financing Cash Flow | $-474M | $-290M | $-147M | $-150M | $-340M | $-166M | $-367M | $-76M | $-207M | $-375M | $-289M | $-229M | $-792M | $-227M | $-637M | $-429M | |
| Net Change in Cash | $-285M | $2M | $124M | $34M | $-162M | $170M | $-145M | $21M | $-99M | $-142M | $-127M | $-59M | $-652M | $317M | $-120M | $178M | |
| Taxes Paid | $94M | $36M | $46M | $54M | $125M | $41M | $61M | $63M | $97M | $37M | $50M | $62M | $174M | $71M | $101M | $151M | |
| Free Cash Flow | $167M | $297M | · | $190M | $163M | $329M | · | $78M | $119M | $247M | · | $182M | $148M | $536M | · | $654M | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | $181M | $148M | $534M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.0% | 10.6% | · | 10.0% | 9.3% | 10.0% | · | 10.1% | 9.2% | 9.7% | · | 9.9% | 11.1% | 10.6% | · | 12.1% | |
| Net Margin | 7.6% | 8.2% | · | 7.7% | 6.9% | 7.6% | · | 7.6% | 7.2% | 7.7% | · | 7.8% | 8.8% | 8.7% | · | 9.5% | |
| Pretax Margin | 10.2% | 11.0% | · | 10.3% | 9.7% | 10.3% | · | 10.4% | 9.7% | 10.6% | · | 10.6% | 11.9% | 11.6% | · | 12.3% | |
| EBITDA Margin | 10.3% | 11.1% | · | 10.4% | 9.9% | 10.5% | · | 10.6% | 9.8% | 10.4% | · | 10.6% | 11.8% | 11.2% | · | 12.4% | |
| ROA | 5.4% | 4.8% | · | 4.5% | 3.8% | 4.4% | · | 4.7% | 3.8% | 3.4% | · | 3.1% | 3.3% | 3.4% | · | 6.0% | |
| ROE | 12.3% | 10.1% | · | 9.6% | 8.4% | 9.1% | · | 9.5% | 7.4% | 6.3% | · | 5.7% | 6.5% | 6.5% | · | 12.0% | |
| ROIC | 12.3% | 9.7% | · | 9.4% | 8.1% | 8.6% | · | 9.4% | 7.6% | 7.1% | · | 6.4% | 7.1% | 6.6% | · | 11.7% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.8 | · | 1.8 | 1.7 | 1.8 | · | 1.7 | 1.7 | 1.8 | · | 2.1 | 2.2 | 2.4 | · | 2.1 | |
| Quick Ratio | 1.4 | 1.7 | · | 1.6 | 1.5 | 1.6 | · | 1.5 | 1.4 | 1.6 | · | 1.9 | 2.0 | 2.2 | · | 1.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | 135.0 | 629.1 | 104.3 | · | · |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.5 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.6 | |
| Receivables Turnover | 1.5 | 1.4 | · | 1.4 | 1.4 | 1.5 | · | 1.7 | 1.5 | 1.4 | · | 1.0 | 0.9 | 0.9 | · | 1.4 |
Valuation (TTM) 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $11.83B | $11.00B | · | $11.21B | $10.76B | $10.31B | · | $9.84B | $9.08B | $9.23B | · | $11.38B | $13.80B | $16.22B | · | $17.95B | |
| Net Income TTM | $902M | $839M | · | $839M | $792M | $778M | · | $746M | $713M | $763M | · | $1.01B | $1.21B | $1.36B | · | $1.50B | |
| Market Cap | $21.19B | $18.91B | · | $16.43B | $15.44B | $16.44B | · | $18.39B | $17.55B | $17.16B | · | $16.67B | $17.83B | $16.82B | · | $14.05B | |
| P/E | 24.3 | 23.3 | · | 20.2 | 20.1 | 21.8 | · | 25.3 | 25.6 | 23.9 | · | 17.8 | 16.0 | 13.3 | · | 9.9 | |
| P/S | 1.8 | 1.7 | · | 1.5 | 1.4 | 1.6 | · | 1.9 | 1.9 | 1.9 | · | 1.5 | 1.3 | 1.0 | · | 0.8 | |
| P/B | 10.0 | 8.3 | · | 7.2 | 7.0 | 7.2 | · | 7.8 | 8.1 | 7.8 | · | 6.7 | 7.0 | 5.3 | · | 4.0 | |
| P / Tangible Book | 10.0 | 8.3 | · | 7.2 | 7.1 | 7.2 | · | 7.8 | 8.1 | 7.8 | · | 6.7 | 7.0 | 5.4 | · | 4.0 | |
| P / Cash Flow | 118.6 | 61.2 | · | 81.6 | 86.1 | 48.0 | · | 204.4 | 138.4 | 66.8 | · | 87.7 | 112.5 | 30.8 | · | 21.0 | |
| P / FCF | 127.2 | 63.8 | · | 86.3 | 94.5 | 49.9 | · | 236.8 | 147.7 | 69.5 | · | 91.6 | 120.5 | 31.4 | · | 21.5 | |
| Earnings Yield | 4.1% | 4.3% | · | 5.0% | 5.0% | 4.6% | · | 4.0% | 3.9% | 4.2% | · | 5.6% | 6.2% | 7.5% | · | 10.1% | |
| Payout Ratio | 39.7% | · | · | 0.00% | 56.7% | · | · | 0.00% | 58.5% | · | · | 0.00% | 52.0% | · | · | 0.00% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Revenue | $11.07B | — | — | $10.60B | — |
| Operating Margin % | 9.5% | — | — | 9.8% | — |
| Net Income | $810M | — | — | $810M | — |
| Diluted EPS | $5.95 | — | — | $5.72 | — |
Balance Sheet
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Current Ratio | 1.8 | — | — | 1.8 | — |
| Quick Ratio | 1.6 | — | — | 1.5 | — |
Cash Flow
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $953M | — | — | $683M | — |
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Institutional owners (13F) 1,021 filers · $12.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 125 (+1 vs prior Q) | 67 (-7 vs prior Q) | 304 (-11 vs prior Q) | 335 (+28 vs prior Q) | +20.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,393,291,899 | 8,548,852 | 10.97% | Shares |
| STATE STREET CORP | $1,195,497,578 | 7,335,241 | 9.42% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,079,615,213 | 6,624,219 | 8.50% | Shares |
| LOOMIS SAYLES & CO L P | $785,273,924 | 4,818,223 | 6.19% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $507,782,102 | 3,129,656 | 4.00% | Shares |
| FIL Ltd | $482,658,099 | 2,961,456 | 3.80% | Shares |
| MARSHFIELD ASSOCIATES | $253,265,083 | 1,553,964 | 1.99% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $214,948,263 | 1,318,863 | 1.69% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $180,578,433 | 1,107,979 | 1.42% | Shares |
| ProShare Advisors LLC | $177,319,306 | 1,087,982 | 1.40% | Shares |
| NORGES BANK | $171,489,512 | 1,052,212 | 1.35% | Shares |
| Caisse de depot et placement du Quebec | $169,665,114 | 1,041,018 | 1.34% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $161,674,856 | 991,992 | 1.27% | Shares |
| D. E. Shaw & Co., Inc. | $124,565,614 | 764,300 | 0.98% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $119,688,926 | 734,378 | 0.94% | Shares |
| BANK OF AMERICA CORP /DE/ | $110,480,231 | 677,876 | 0.87% | Shares |
| CITADEL ADVISORS LLC | $101,278,217 | 621,415 | 0.80% | Shares |
| AMERICAN CENTURY COMPANIES INC | $98,758,277 | 605,953 | 0.78% | Shares |
| Balyasny Asset Management L.P. | $97,682,552 | 599,353 | 0.77% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $95,927,909 | 588,587 | 0.76% | Shares |
| Qube Research & Technologies Ltd | $95,537,572 | 586,192 | 0.75% | Shares |
| Allianz Asset Management GmbH | $94,203,255 | 578,005 | 0.74% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $84,160,867 | 519,993 | 0.66% | Shares |
| BlackRock, Inc. | $84,039,822 | 515,645 | 0.66% | Shares |
| FMR LLC | $82,454,850 | 505,920 | 0.65% | Shares |
| 1832 Asset Management L.P. | $82,259,592 | 504,722 | 0.65% | Shares |
| Camrose Capital Investment Partners LLP | $77,496,175 | 475,495 | 0.61% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $76,619,017 | 470,113 | 0.60% | Shares |
| Summit Trail Advisors, LLC | $74,359,305 | 456,248 | 0.59% | Shares |
| Madison Asset Management, LLC | $73,064,742 | 448,305 | 0.58% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $70,944,869 | 435,298 | 0.56% | Shares |
| RAYMOND JAMES FINANCIAL INC | $70,709,751 | 433,855 | 0.56% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $69,350,598 | 425,516 | 0.55% | Shares |
| Life Cycle Investment Partners Ltd | $67,993,463 | 417,189 | 0.54% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $66,958,214 | 410,837 | 0.53% | Shares |
| GOLDMAN SACHS GROUP INC | $66,394,140 | 407,376 | 0.52% | Shares |
| ASSETMARK, INC | $65,527,762 | 402,060 | 0.52% | Shares |
| TD Asset Management Inc | $65,458,961 | 401,638 | 0.52% | Shares |
| SW Investment Management LLC | $65,192,000 | 400,000 | 0.51% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $61,265,187 | 381,168 | 0.48% | Shares |
| Swiss National Bank | $61,133,798 | 375,100 | 0.48% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $58,140,670 | 356,735 | 0.46% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $57,986,093 | 404,846 | 0.46% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $57,883,814 | 355,159 | 0.46% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $57,846,491 | 354,930 | 0.46% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $57,267,394 | 354,949 | 0.45% | Shares |
| RHUMBLINE ADVISERS | $56,331,632 | 345,636 | 0.44% | Shares |
| ROYAL BANK OF CANADA | $55,787,000 | 342,294 | 0.44% | Shares |
| Epoch Investment Partners, Inc. | $55,287,216 | 339,227 | 0.44% | Shares |
| Madison Investment Advisors, LLC | $55,036,283 | 496,852 | 0.43% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $54,214,482 | 332,645 | 0.43% | Shares |
| Broad Bay Capital Management, LP | $53,433,156 | 327,851 | 0.42% | Shares |
| California Public Employees Retirement System | $50,062,404 | 307,169 | 0.39% | Shares |
| ANCHOR CAPITAL ADVISORS LLC | $49,868,000 | 305,976 | 0.39% | Shares |
| Boston Partners | $49,587,970 | 304,258 | 0.39% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $49,421,240 | 303,235 | 0.39% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $46,451,065 | 324,311 | 0.37% | Shares |
| Vanguard Global Advisers, LLC | $46,013,654 | 282,327 | 0.36% | Shares |
| BARCLAYS PLC | $45,588,276 | 279,717 | 0.36% | Shares |
| AMERIPRISE FINANCIAL INC | $44,095,382 | 270,557 | 0.35% | Shares |
| Boston Trust Walden Corp | $43,769,377 | 268,557 | 0.34% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $42,051,285 | 258,015 | 0.33% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $40,001,811 | 245,440 | 0.32% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $39,967,611 | 268,221 | 0.31% | Shares |
| Quantinno Capital Management LP | $39,886,823 | 244,734 | 0.31% | Shares |
| Point72 Asset Management, L.P. | $39,197,505 | 240,505 | 0.31% | Shares |
| Walleye Capital LLC | $36,557,066 | 224,304 | 0.29% | Shares |
| Tandem Investment Advisors, Inc. | $35,857,392 | 220,011 | 0.28% | Shares |
| Eurizon Capital SGR S.p.A. | $33,032,106 | 202,718 | 0.26% | Shares |
| PFA Pension, Forsikringsaktieselskab | $32,749,171 | 200,940 | 0.26% | Shares |
| Robeco Institutional Asset Management B.V. | $32,663,146 | 200,412 | 0.26% | Shares |
| EVERETT HARRIS & CO /CA/ | $31,799,517 | 195,113 | 0.25% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $31,322,800 | 192,188 | 0.25% | Shares |
| MORGAN STANLEY | $30,379,239 | 186,398 | 0.24% | Shares |
| BANK OF NOVA SCOTIA | $30,378,820 | 186,396 | 0.24% | Shares |
| FIRST TRUST ADVISORS LP | $29,607,082 | 181,662 | 0.23% | Shares |
| LPL Financial LLC | $29,072,884 | 178,383 | 0.23% | Shares |
| Arbejdsmarkedets Tillaegspension | $28,423,712 | 174,400 | 0.22% | Shares |
| Squarepoint Ops LLC | $28,304,574 | 173,669 | 0.22% | Shares |
| Aware Super Pty Ltd as trustee of Aware Super | $28,224,550 | 173,178 | 0.22% | Shares |
| Legal & General Group Plc | $27,045,064 | 165,941 | 0.21% | Shares |
| Pictet Asset Management Holding SA | $26,607,261 | 163,259 | 0.21% | Shares |
| L. Roy Papp & Associates, LLP | $26,025,498 | 159,685 | 0.20% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $25,948,747 | 159,376 | 0.20% | Shares |
| Douglas Lane & Associates, LLC | $24,620,411 | 151,064 | 0.19% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $24,581,947 | 150,828 | 0.19% | Shares |
| NATIXIS | $24,230,074 | 148,669 | 0.19% | Shares |
| CONFLUENCE INVESTMENT MANAGEMENT LLC | $24,164,811 | 148,269 | 0.19% | Shares |
| Holocene Advisors, LP | $23,993,101 | 147,215 | 0.19% | Shares |
| KLP KAPITALFORVALTNING AS | $23,518,340 | 144,302 | 0.19% | Shares |
| AVIVA PLC | $22,858,923 | 140,256 | 0.18% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $22,579,249 | 138,540 | 0.18% | Shares |
| CI INVESTMENTS INC. | $22,147,515 | 135,891 | 0.17% | Shares |
| ALLIANCEBERNSTEIN L.P. | $21,230,696 | 148,228 | 0.17% | Shares |
| US BANCORP \DE\ | $20,863,559 | 128,013 | 0.16% | Shares |
| Illinois Municipal Retirement Fund | $20,398,414 | 125,159 | 0.16% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $19,830,917 | 121,677 | 0.16% | Shares |
| HSBC HOLDINGS PLC | $18,677,732 | 115,039 | 0.15% | Shares |
| Schonfeld Strategic Advisors LLC | $18,075,131 | 110,904 | 0.14% | Shares |
| JLB & ASSOCIATES INC | $17,411,153 | 106,830 | 0.14% | Shares |
Company insiders 48 insiders · 26 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Daniel R Wall | President and CEO | June 15, 2026 A | 68,692 | 0 | 1 | $-884,927 |
| Jeffrey S Musser | President and CEO | Feb. 21, 2025 F | 138,145 | 0 | 0 | $0 |
| Peter J Rose | Chairman and CEO | Nov. 14, 2013 M | 9,464 | 0 | 0 | $0 |
| David A Hackett | Senior VP - CFO | June 15, 2026 A | 548 | 0 | 0 | $0 |
| Bradley S Powell | Senior VP - CFO | June 16, 2025 A | 12,340 | 0 | 0 | $0 |
| Roberto A Martinez | President, Global Products | June 15, 2026 A | 4,062 | 0 | 0 | $0 |
| Kelly K Blacker | President, Global Geographies | June 15, 2026 A | 18,208 | 0 | 0 | $0 |
| Blake R Bell | President Global Business Dev | June 15, 2026 A | 62,993 | 0 | 0 | $0 |
| Richard H Rostan | President - Global Geographies | Dec. 15, 2023 A | 89,729 | 0 | 0 | $0 |
| Eugene K Alger | President Global Services | Dec. 15, 2022 A | 17,879 | 0 | 0 | $0 |
| Jordan R Gates | President and COO | July 23, 2015 M | 425,378 | 0 | 0 | $0 |
| Robert L Villanueva | President-The Americas | Dec. 4, 2014 M | 24,366 | 0 | 0 | $0 |
| Timothy C Barber | President, Sales & Marketing | June 4, 2014 S | 204,676 | 0 | 0 | $0 |
| Gabe O Schoonover | SVP - Global Ent Svc & CSO | June 15, 2026 A | 327 | 0 | 0 | $0 |
| Courtney A Hawkins | Senior VP - CIO | June 15, 2026 A | 619 | 0 | 0 | $0 |
| Jeffrey F Dickerman | Senior VP/Gen Counsel/Corp Sec | June 15, 2026 A | 10,367 | 0 | 1 | $-201,255 |
| Benjamin G. Clark | SVP - Global Ent Svc & CSO | June 16, 2025 A | 22,593 | 0 | 0 | $0 |
| Christopher J. Mcclincy | Senior VP - CIO | June 17, 2024 A | 24,234 | 0 | 0 | $0 |
| Philip M Coughlin | Chief Strategy Officer | Dec. 16, 2019 A | 24,123 | 0 | 0 | $0 |
| Rosanne Esposito | Executive VP-Global Customs | Dec. 4, 2014 M | 5,801 | 0 | 0 | $0 |
| Rommel C Saber | Executive VP-Near/Middle East | Sept. 12, 2014 M | 297,640 | 0 | 0 | $0 |
| Jose Antonio Ubeda | Executive VP-Air Cargo | May 2, 2014 M | 33,948 | 0 | 0 | $0 |
| Amy Jo Tangeman | SVP,General Counsel &Secretary | Dec. 12, 2013 M | 13,741 | 0 | 0 | $0 |
| Charles J Lynch | Senior VP-Corporate Controller | Nov. 19, 2010 M | 2,031 | 0 | 0 | $0 |
| Jean Claude Carcaillet | Senior VP-Australasia | Aug. 5, 2010 M | 1,504 | 0 | 0 | $0 |
| Roger A Idiart | Senior VP-Air Cargo | June 11, 2009 M | 58,984 | 0 | 0 | $0 |
| Olivia D Polius | Director | May 5, 2026 A | 8,643 | 0 | 0 | $0 |
| Robert Paul Carlile | Director | May 5, 2026 A | 10,351 | 0 | 1 | $-301,275 |
| James M. Dubois | Director | May 5, 2026 A | 23,018 | 0 | 0 | $0 |
| Mark A Emmert | Director | May 5, 2026 A | 7,774 | 0 | 2 | $-1,227,516 |
| Brandon Pedersen | Director | May 5, 2026 A | 8,643 | 0 | 0 | $0 |
| Glenn M Alger | Director | May 5, 2026 G | 198,238 | 0 | 0 | $0 |
| Liane J Pelletier | Director | May 5, 2026 A | 40,282 | 0 | 0 | $0 |
| Robert R Wright | Director | Nov. 5, 2021 S | 4,500 | 0 | 0 | $0 |
| Alain Monie | Director | May 21, 2019 G | 9,269 | 0 | 0 | $0 |
| Richard B. Mccune | Director | May 20, 2019 A | 17,629 | 0 | 0 | $0 |
| Tay Yoshitani | Director | May 20, 2018 A | 24,431 | 0 | 0 | $0 |
| Dan Kourkoumelis | Director | May 20, 2017 A | 59,750 | 0 | 0 | $0 |
| James L K Wang | Director | May 20, 2016 A | 516,375 | 0 | 0 | $0 |
| John W Meisenbach | Director | April 27, 2016 M | 140,328 | 0 | 0 | $0 |
| James J Casey | Director | May 6, 2009 D | 89,493 | 0 | 0 | $0 |
| Diane H. Gulyas | — | Aug. 6, 2026 G | 23,141 | 0 | 0 | $0 |
| Michael J Malone | — | March 10, 2017 S | 15,402 | 0 | 0 | $0 |
| Sandy K Y Liu | — | Aug. 13, 2008 M | 0 | 0 | 0 | $0 |
| Jeffrey J King | — | May 24, 2006 M | 191,365 | 0 | 0 | $0 |
| Manfred L Amberger | — | May 23, 2006 M | 56,956 | 0 | 0 | $0 |
| David M Lincoln | — | Feb. 25, 2005 S | 81,556 | 0 | 0 | $0 |
| William J Coogan | — | May 12, 2004 M | 100,307 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 185 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| SUPL · ProShares Trust | 3.91% | 573 NS | May 31, 2026 | N-PORT |
| IYT · iShares Trust | 2.94% | 368,002 SH | Aug. 8, 2026 | Daily |
| MVFD · Northern Lights Fund Trust IV | 2.36% | 16,196 NS | May 31, 2026 | N-PORT |
| UPGD · Invesco Exchange-Traded Fund Trust | 2.10% | 14,318 SH | Aug. 8, 2026 | Daily |
| TPOR · Direxion Shares ETF Trust | 2.02% | 2,461 NS | April 30, 2026 | N-PORT |
| BMVP · Invesco Exchange-Traded Fund Trust | 1.87% | 11,002 SH | Aug. 8, 2026 | Daily |
| NOBL · ProShares Trust | 1.53% | 1,074,446 NS | May 31, 2026 | N-PORT |
| KNG · First Trust Exchange-Traded Fund IV | 1.43% | 324,739 NS | April 30, 2026 | N-PORT |
| RSPN · Invesco Exchange-Traded Fund Trust | 1.21% | 73,255 SH | Aug. 8, 2026 | Daily |
| FEGE · RBB Fund Trust | 1.05% | 128,501 NS | May 31, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 1.04% | 30,238 NS | April 30, 2026 | N-PORT |
| SHPP · Pacer Funds Trust | 0.95% | 129 NS | April 30, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.79% | 12,629 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.67% | 26,469 NS | May 31, 2026 | N-PORT |
| QLC · FlexShares Trust | 0.52% | 31,500 NS | April 30, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.44% | 20,804 NS | April 30, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.44% | 7,557 NS | May 29, 2026 | N-PORT |
| QDEF · FlexShares Trust | 0.44% | 15,687 NS | April 30, 2026 | N-PORT |
| SUSA · iShares Trust | 0.44% | 101,006 SH | Aug. 8, 2026 | Daily |
| SMIZ · Zacks Trust | 0.42% | 6,837 NS | May 31, 2026 | N-PORT |
| EVUS · iShares Trust | 0.41% | 8,603 SH | Aug. 8, 2026 | Daily |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.40% | 323,227 NS | May 31, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.37% | 840,164 SH | Aug. 8, 2026 | Daily |
| FQAL · FIDELITY COVINGTON TRUST | 0.35% | 32,529 NS | April 30, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.35% | 3,656 NS | April 30, 2026 | N-PORT |
| SZNE · Pacer Funds Trust | 0.32% | 290 NS | April 30, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.32% | 389,928 NS | April 30, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 0.32% | 996 NS | April 30, 2026 | N-PORT |
| FBCV · FIDELITY COVINGTON TRUST | 0.31% | 3,357 NS | April 30, 2026 | N-PORT |
| ESLV · Strategy Shares | 0.29% | 234 NS | April 30, 2026 | N-PORT |
| VIS · VANGUARD WORLD FUND | 0.29% | 161,481 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.28% | 39,757 NS | April 30, 2026 | N-PORT |
| IYJ · iShares Trust | 0.28% | 30,094 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.27% | 6,937 NS | May 31, 2026 | N-PORT |
| SPHQ · Invesco Exchange-Traded Fund Trust | 0.26% | 285,190 SH | Aug. 8, 2026 | Daily |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.26% | 10,551 NS | May 31, 2026 | N-PORT |
| DUSL · Direxion Shares ETF Trust | 0.26% | 941 NS | April 30, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.25% | 3,454 NS | May 31, 2026 | N-PORT |
| UXI · ProShares Trust | 0.25% | 443 NS | May 31, 2026 | N-PORT |
| DFVE · DoubleLine ETF Trust | 0.24% | 463 NS | March 31, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.24% | 9,631 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.23% | 4,422 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.23% | 199,890 SH | Aug. 8, 2026 | Daily |
| OASC · Unified Series Trust | 0.22% | 1,196 NS | May 31, 2026 | N-PORT |
| EXI · iShares Trust | 0.22% | 18,416 SH | Aug. 8, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.21% | 2,834,503 SH | Aug. 8, 2026 | Daily |
| SIZE · iShares Trust | 0.21% | 5,127 SH | Aug. 8, 2026 | Daily |
| GSEW · Goldman Sachs ETF Trust | 0.21% | 23,056 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 102,809 NS | April 30, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.20% | 1,126,759 SH | Aug. 8, 2026 | Daily |