XPONYSETransportation ServicesFiscal year ends December 31
XPO, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$185.35−1.32 (-0.71%)
Close on Oct 19, 2026
- Market cap
- $21.87B
- P/E (TTM)
- 54.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
8.0%+6.5 pts over 5 years
Net margin
3.9%+2.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.1% | +1.9% | +5.7% | +0.7% | |
| Operating income | -0.6% | +20.3% | +46.6% | – | |
| Net income | -18.3% | -22.0% | +23.5% | – | |
| EPS, diluted | -18.3% | -22.9% | +24.9% | – | |
| Free cash flow | +1631.6% | +2.8% | +47.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 2.5% | 3.9% | 18.3% | |
| Return on assets | 0.6% | 0.7% | 4.0% | |
| Current ratio | 1.13 | 1.04 | 1.05 | |
| Debt to equity | 1.80 | 1.84 | 1.75 | |
| Net debt to EBITDA | 4.80× | 8.55× | 2.62× | |
| Interest coverage | 1.3× | 0.3× | 3.0× | |
| Capex to revenue | 3.3% | 4.0% | 8.1% | |
| Diluted shares | 123M | 92M | 119M |
Where the cash went
Fiscal 2021 to 2025, five years combined
XPO generated $3.80B from operations and spent $3.89B on capital expenditure, dividends and share buybacks. 97% of that went back into the business.
Generated
$3.80B
Used
$3.89B
Capital expenditure$3.77B97%Dividends$00%Share buybacks$125.00M3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.9%
×Asset turnover1.03×
×Equity multiplier4.59×
=Return on equity, FY202518.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.9% | 1.03× | 4.59× | 18.3% |
| FY2024 | 4.8% | 1.06× | 5.30× | 27.0% |
| FY2023 | 2.4% | 1.13× | 6.04× | 16.6% |
| FY2022 | 8.6% | 1.03× | 6.97× | 62.0% |
| FY2021 | 4.7% | 0.58× | 6.24× | 16.9% |
| FY2020 | 1.8% | 0.41× | 5.42× | 3.9% |
| FY2019 | 3.9% | 0.81× | 4.18× | 13.3% |
| FY2018 | 2.4% | 1.39× | 3.46× | 11.8% |
| FY2017 | 2.2% | 1.27× | 3.85× | 10.8% |
| FY2016 | 0.5% | 1.20× | 4.49× | 2.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$316.00M
- Cash generatingOperating cash flow above zero$986.00M
- Return on assets improvedROA up on the prior year5.2% → 4.1%
- Earnings backed by cashOperating cash flow above net income$986.00M vs $316.00M
- Less leverageLong-term debt to assets fell43.1% → 39.7%
- Better liquidityCurrent ratio rose1.06 → 1.05
- No dilutionShare count did not rise120M → 119M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.08 → 1.06