QXO (QXO) Financials

$17.04 -0.70 (-3.95%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$17.14 +0.10 (+0.56%)

As of 08:55 AM Eastern

Annual Income Statements for QXO

This table shows QXO's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	0.37	3.44	59	-12	6.79	0.18	-0.13	-0.28	-1.07	28	-279
Consolidated Net Income / (Loss)	0.37	3.44	-0.49	0.26	6.79	0.18	-0.13	-0.28	-1.07	28	-279
Net Income / (Loss) Continuing Operations	0.37	3.44	59	-0.92	-1.47	0.18	-0.13	-0.28	-1.07	28	-279
Total Pre-Tax Income	0.43	1.21	0.91	-1.20	-1.92	0.22	0.04	-0.47	-1.37	51	-337
Total Operating Income	0.36	1.27	0.94	-1.16	-1.91	0.22	-0.23	-0.39	-1.31	-71	-245
Total Gross Profit	11	13	64	1.16	15	17	17	18	22	23	1,573
Total Revenue	28	34	64	1.86	39	41	42	45	55	57	6,842
Operating Revenue	28	34	64	1.86	39	41	42	45	55	57	6,842
Total Cost of Revenue	17	21	0.00	0.70	24	25	24	27	33	34	5,270
Operating Cost of Revenue	17	21	-	0.70	24	25	24	-	33	34	5,270
Total Operating Expenses	10	11	4.34	15	17	16	17	18	23	94	1,818
Selling, General & Admin Expense	5.64	6.37	7.35	7.98	8.77	8.27	9.40	9.47	22	93	1,395
Depreciation Expense	0.49	0.68	0.62	0.65	0.72	0.71	0.88	0.95	0.83	0.20	108
Amortization Expense	-	-	-	-	-	-	-	-	-	0.90	315
Total Other Income / (Expense), net	0.08	-0.05	-0.03	-0.04	-0.02	-0.00	0.27	-0.09	-0.06	122	-92
Interest Expense	0.06	0.06	0.03	0.04	0.04	0.01	0.05	0.09	-	0.00	50
Interest & Investment Income	-	-	-	-	-	-	-	-	-0.06	122	-48
Other Income / (Expense), net	0.13	0.01	-	0.00	0.02	0.01	0.32	0.00	-	0.00	5.50
Income Tax Expense	0.06	-2.22	1.39	-0.28	-0.46	0.05	0.18	-0.19	-0.30	23	-58
Basic Earnings per Share	$0.09	$0.78	($0.11)	$0.06	$1.51	$0.04	($0.03)	($0.05)	($1.63)	($0.11)	($0.63)
Weighted Average Basic Shares Outstanding	4.30M	4.41M	4.49M	4.50M	4.50M	4.50M	5.03M	5.17M	657K	204M	613M
Diluted Earnings per Share	$0.09	$0.77	($0.11)	$0.06	$1.51	$0.04	($0.03)	($0.05)	($1.63)	($0.11)	($0.63)
Weighted Average Diluted Shares Outstanding	4.32M	4.47M	4.49M	4.50M	4.50M	4.50M	5.03M	5.17M	657K	204M	613M
Weighted Average Basic & Diluted Shares Outstanding	4.41M	4.49M	4.50M	4.50M	4.50M	5.06M	5.14M	5.26M	5.32M	409.43M	708.55M

This table shows QXO's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2022	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-2.11	1.21	0.14	-0.60	17	11	8.80	-59	-139	-90	-227
Consolidated Net Income / (Loss)	-2.11	1.21	0.14	-0.60	17	11	8.80	-59	-139	-90	-227
Net Income / (Loss) Continuing Operations	-2.12	1.21	0.14	-0.60	17	11	8.80	-59	-139	-90	-227
Total Pre-Tax Income	-2.57	1.30	0.21	-0.80	23	28	17	-236	-11	-108	-280
Total Operating Income	-2.56	-1.64	0.23	-4.30	-34	-33	-39	-162	26	-70	-252
Total Gross Profit	5.35	2.07	5.66	5.80	5.50	5.97	5.40	402	636	530	409
Total Revenue	13	5.18	14	15	13	15	14	1,906	2,728	2,194	1,730
Operating Revenue	13	5.18	14	15	13	15	14	1,906	2,728	2,194	1,730
Total Cost of Revenue	8.07	3.11	8.78	8.70	7.60	8.86	8.10	1,505	2,093	1,664	1,321
Operating Cost of Revenue	8.07	-	8.78	8.70	7.60	8.86	8.10	1,505	2,093	1,664	1,321
Total Operating Expenses	7.91	3.71	5.43	10	39	39	45	564	610	599	661
Selling, General & Admin Expense	7.71	2.03	5.19	9.80	39	39	44	457	453	441	497
Depreciation Expense	0.20	0.34	0.24	0.10	0.00	0.65	0.10	27	40	41	47
Amortization Expense	-	-	-	0.20	0.20	-	0.20	80	118	-	117
Total Other Income / (Expense), net	-0.02	2.94	-0.02	3.50	57	61	57	-74	-36	-38	-28
Interest & Investment Income	-0.01	-	-0.02	3.50	57	61	57	-30	-38	-36	-31
Other Income / (Expense), net	-0.01	-	-	0.00	0.00	-	0.00	1.70	1.40	-	2.70
Income Tax Expense	-0.46	0.09	0.07	-0.20	6.10	17	8.50	-178	129	-17	-53
Basic Earnings per Share	($3.21)	-	$0.21	($9.93)	($0.01)	$0.06	($0.03)	($0.15)	($0.24)	($0.15)	($0.35)
Weighted Average Basic Shares Outstanding	657K	5.17M	664K	700K	358.80M	204.00M	451.40M	564.70M	715.30M	613M	744.40M
Diluted Earnings per Share	($3.21)	-	$0.21	($9.93)	($0.01)	$0.06	($0.03)	($0.15)	($0.24)	($0.15)	($0.35)
Weighted Average Diluted Shares Outstanding	657K	5.17M	664K	700K	358.80M	204.00M	451.40M	564.70M	715.30M	613M	744.40M
Weighted Average Basic & Diluted Shares Outstanding	5.26M	5.32M	5.32M	409.43M	409.43M	409.43M	518.68M	673.56M	674.39M	708.55M	725.17M

This table details how cash moves in and out of QXO's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.12	0.43	0.61	-0.17	7.14	-2.06	0.22	1.19	-1.87	5,066	-2,707
Net Cash From Operating Activities	0.13	1.79	2.31	-0.40	-0.40	1.73	0.23	2.04	0.58	85	261
Net Cash From Continuing Operating Activities	0.13	1.79	2.31	-0.27	-0.90	1.73	0.23	2.04	0.58	85	261
Net Income / (Loss) Continuing Operations	0.37	3.44	-0.49	-0.92	-1.47	0.18	-0.13	-0.28	-1.07	28	-279
Consolidated Net Income / (Loss)	0.37	3.44	-0.49	0.26	6.79	0.18	-0.13	-0.28	-1.07	28	-279
Depreciation Expense	0.17	0.23	0.26	0.33	0.34	0.31	0.35	0.39	0.33	0.20	108
Amortization Expense	0.32	0.45	0.36	0.04	0.59	0.81	1.05	1.37	0.67	0.90	321
Non-Cash Adjustments To Reconcile Net Income	0.21	0.04	0.18	0.34	0.16	-0.28	-0.67	-0.38	0.28	35	109
Changes in Operating Assets and Liabilities, net	-0.95	-2.37	1.99	-0.19	-0.53	0.71	-0.36	0.94	0.37	21	1.80
Net Cash From Investing Activities	-0.64	-0.50	-0.82	-0.41	8.03	0.84	-0.51	-0.19	-0.40	-0.10	-10,630
Net Cash From Continuing Investing Activities	-0.64	-0.50	-0.82	-0.70	8.15	0.84	-0.51	-0.19	-0.40	-0.10	-10,630
Purchase of Property, Plant & Equipment	-0.07	-0.50	-0.76	-0.40	-0.15	-0.12	-0.11	-0.19	-0.40	-0.10	-78
Acquisitions	-0.71	-	-0.06	-0.30	-0.06	-0.19	-0.65	0.00	-	0.00	-10,557
Other Investing Activities, net	-	-	-	-	0.00	1.15	-	-	-	0.00	4.40
Net Cash From Financing Activities	0.40	-0.87	-0.88	-0.57	-0.87	-4.63	0.50	-0.66	-2.05	4,981	7,663
Net Cash From Continuing Financing Activities	0.40	-0.87	-0.88	-0.56	-0.87	-4.63	0.50	-0.66	-2.05	4,981	7,663
Repayment of Debt	-0.36	-0.42	-0.41	-0.43	-0.48	-3.57	-0.42	-0.42	-0.78	-1.70	-957
Payment of Dividends	0.00	-0.26	-0.36	0.00	-0.23	-4.05	-3.08	0.00	-1.05	-50	-105
Issuance of Debt	-	-	-	-	0.00	3.15	-	-	-	0.00	5,342
Issuance of Preferred Equity	0.00	0.00	-	-	-	-	-	-	0.00	982	558
Issuance of Common Equity	0.81	-	-	-	-	0.00	4.18	0.00	0.00	4,051	4,275
Other Financing Activities, net	-0.05	-0.19	-0.11	-0.13	-0.17	-0.16	-0.17	-0.23	-0.22	-0.20	-1,451
Effect of Exchange Rate Changes	-	-	-	-	-	-	-	-	-	0.00	-0.50
Cash Interest Paid	0.06	0.06	0.03	0.04	0.04	0.04	0.05	0.04	0.06	0.10	138
Cash Income Taxes Paid	0.09	0.10	0.34	0.22	1.91	0.04	0.38	0.09	0.30	0.00	38

This table details how cash moves in and out of QXO's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-0.25	-0.74	0.14	965	4,069	31	13	-2,803	28	55	685
Net Cash From Operating Activities	1.14	-0.23	0.37	-1.05	32	54	37	-174	213	187	71
Net Cash From Continuing Operating Activities	1.14	-0.23	0.37	-1.05	32	54	37	-174	213	187	71
Net Income / (Loss) Continuing Operations	-2.11	0.42	0.14	-0.59	17	11	8.80	-59	-139	-90	-227
Consolidated Net Income / (Loss)	-2.11	0.42	0.14	-0.59	17	11	8.80	-59	-139	-90	-227
Depreciation Expense	0.08	0.08	0.07	0.07	0.06	0.05	0.10	27	40	41	47
Amortization Expense	0.16	0.19	0.21	0.14	0.22	0.22	0.20	82	120	119	119
Non-Cash Adjustments To Reconcile Net Income	0.10	0.02	0.08	0.72	14	21	20	-87	49	127	27
Changes in Operating Assets and Liabilities, net	2.92	-0.94	-0.13	-1.39	0.15	22	7.20	-138	143	-11	104
Net Cash From Investing Activities	-0.05	-0.33	-0.06	-0.00	-0.00	-0.04	-0.80	-10,575	-29	-26	-20
Net Cash From Continuing Investing Activities	-0.05	-0.33	-0.06	-0.00	-0.00	-0.04	-0.80	-10,575	-29	-26	-20
Purchase of Property, Plant & Equipment	-0.05	-0.33	-0.06	-0.00	-0.00	-0.04	-0.10	-20	-30	-28	-23
Other Investing Activities, net	-	-	-	-	-	-	-0.70	-	1.10	2.50	3.00
Net Cash From Financing Activities	-1.34	-0.18	-0.17	966	4,038	-23	-23	7,946	-155	-106	634
Net Cash From Continuing Financing Activities	-1.34	-0.18	-0.17	966	4,038	-23	-23	7,946	-155	-106	634
Repayment of Debt	-0.24	-0.13	-0.12	-0.10	-1.48	-	0.00	-337	-454	-165	-46
Payment of Dividends	-1.05	-	0.00	-	-9.75	-23	-23	-23	-29	-30	-30
Issuance of Common Equity	-	-	-	-	-	-	0.00	-	42	-0.10	750
Other Financing Activities, net	-0.05	-0.05	-0.05	-0.10	-0.04	-0.03	0.00	-1,407	-11	-32	-40
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	-	-	-0.20	-0.30
Cash Interest Paid	-0.00	-	0.02	0.01	0.03	0.01	0.00	22	20	96	15
Cash Income Taxes Paid	-	0.28	0.00	-0.00	-	-	0.00	35	2.10	1.00	1.40

This table presents QXO's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	8.48	11	10	12	19	16	18	21	20	5,098	15,887
Total Current Assets	4.89	4.92	5.40	4.89	13	8.63	11	14	12	5,090	5,546
Cash & Equivalents	1.19	1.62	2.24	1.90	8.66	6.60	6.81	8.01	6.14	5,069	2,362
Accounts Receivable	3.22	2.97	2.76	2.07	2.71	1.63	2.21	2.60	2.97	2.70	1,145
Inventories, net	-	-	-	-	-	-	-	-	-	0.00	1,497
Prepaid Expenses	0.44	0.33	0.40	0.43	0.46	0.40	1.69	1.57	2.68	18	84
Current Deferred & Refundable Income Taxes	0.04	-	-	-	-	-	-	-	-	0.00	32
Other Current Assets	-	-	-	0.48	-	-	0.00	1.52	-	0.00	427
Plant, Property, & Equipment, net	0.43	0.47	0.57	0.69	0.71	0.52	0.64	0.71	0.50	0.40	689
Total Noncurrent Assets	3.16	5.28	4.44	6.17	5.26	6.75	6.65	7.03	8.20	8.30	9,652
Goodwill	0.40	0.40	0.40	0.89	0.89	1.01	1.01	1.14	1.14	1.20	5,111
Intangible Assets	2.57	2.43	2.64	2.92	2.61	3.13	3.49	4.27	4.92	4.00	3,819
Other Noncurrent Operating Assets	0.03	0.03	0.04	1.08	0.89	1.57	1.16	0.52	0.69	0.50	722
Total Liabilities & Shareholders' Equity	8.48	11	10	12	19	16	18	21	20	5,098	15,887
Total Liabilities	6.93	5.69	6.19	7.41	10	8.62	8.64	12	13	45	6,181
Total Current Liabilities	5.57	5.11	5.85	6.23	8.66	6.73	7.39	11	12	45	1,550
Accounts Payable	1.59	1.82	2.09	2.03	2.21	1.88	2.04	3.27	4.56	6.20	819
Accrued Expenses	0.82	0.82	1.07	1.42	1.19	1.33	1.74	2.43	2.68	39	574
Other Current Liabilities	-	-	-	0.00	0.26	0.60	0.63	0.48	0.42	0.30	157
Total Noncurrent Liabilities	1.36	0.58	0.34	1.18	1.40	1.89	1.25	1.13	1.50	0.30	4,631
Long-Term Debt	0.99	0.49	0.23	1.07	0.78	0.94	0.57	0.67	0.99	0.00	3,057
Capital Lease Obligations	0.09	0.06	0.07	0.11	0.18	0.06	0.19	0.40	0.25	0.20	139
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	0.00	847
Other Noncurrent Operating Liabilities	0.27	0.03	0.04	0.00	0.44	0.89	0.50	0.06	0.26	0.10	587
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1.56	4.97	4.23	4.33	8.89	7.28	9.36	9.55	7.47	5,053	9,707
Total Preferred & Common Equity	1.56	4.97	4.23	4.33	8.89	7.28	9.36	9.55	7.47	5,053	9,707
Preferred Stock	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	499	1,057
Total Common Equity	1.56	4.97	4.23	4.33	8.89	7.28	9.36	9.55	7.47	4,554	8,650
Common Stock	12	12	12	12	9.53	7.74	9.95	10	9.42	4,561	9,047
Retained Earnings	-11	-7.21	-7.69	-7.43	-0.64	-0.46	-0.59	-0.88	-1.95	-6.20	-395
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	-	-	0.00	-2.30

This table presents QXO's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	20	21	21	18	21	988	5,063	5,113	17,114	16,643	16,660
Total Current Assets	12	14	13	11	13	980	5,056	5,104	6,495	6,215	6,457
Cash & Equivalents	7.23	6.88	7.13	6.88	6.28	971	5,037	5,082	2,279	2,307	3,046
Accounts Receivable	2.64	3.17	2.73	3.04	3.33	3.02	2.24	3.24	1,576	1,562	1,136
Inventories, net	-	-	-	-	-	-	-	-	1,850	1,664	1,668
Prepaid Expenses	1.02	1.74	1.53	1.11	1.64	5.54	16	19	100	87	95
Current Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	223	99	33
Other Current Assets	1.12	1.79	2.03	0.01	1.28	-	-	-	469	497	479
Plant, Property, & Equipment, net	0.81	0.62	0.56	0.53	0.50	0.51	0.46	0.54	0.00	691	660
Total Noncurrent Assets	7.16	6.90	6.62	6.82	7.84	7.84	7.37	8.62	10,619	9,737	9,544
Goodwill	1.01	1.14	1.14	1.14	1.14	1.14	1.16	1.16	5,138	5,071	5,129
Intangible Assets	4.56	4.10	3.94	3.78	4.71	4.49	4.25	4.46	4,004	3,938	3,705
Other Noncurrent Operating Assets	0.61	0.63	0.65	0.56	0.61	0.60	0.52	0.39	1,478	728	710
Total Liabilities & Shareholders' Equity	20	21	21	18	21	988	5,063	5,113	17,114	16,643	16,660
Total Liabilities	10	11	10	11	13	17	20	54	7,199	6,821	6,495
Total Current Liabilities	9.08	10	9.47	11	12	16	20	54	2,165	2,034	1,937
Accounts Payable	2.55	2.85	2.82	3.50	4.87	6.19	3.86	5.84	1,427	1,278	1,171
Accrued Expenses	2.13	2.21	2.18	2.83	2.34	5.40	12	44	586	601	607
Other Current Liabilities	0.52	0.54	0.51	0.43	0.36	0.36	0.33	0.18	153	155	160
Total Noncurrent Liabilities	1.37	1.02	0.92	0.78	1.28	1.10	0.34	0.19	5,034	4,787	4,558
Long-Term Debt	0.80	0.55	0.45	0.38	0.84	0.69	0.00	-	3,251	3,096	3,059
Capital Lease Obligations	0.46	0.35	0.31	0.27	0.22	0.25	0.22	0.16	-	138	130
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	1,042	962	789
Other Noncurrent Operating Liabilities	0.12	0.11	0.16	0.13	0.21	0.16	0.12	0.03	740	590	581
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9.53	9.87	10	7.05	7.61	971	5,044	5,059	9,915	9,822	10,165
Total Preferred & Common Equity	9.53	9.87	10	7.05	7.61	971	5,044	5,059	9,915	9,822	10,165
Preferred Stock	0.00	0.00	0.00	0.00	0.00	499	499	499	1,057	1,057	1,057
Total Common Equity	9.53	9.87	10	7.05	7.61	473	4,545	4,561	8,859	8,765	9,108
Common Stock	10	10	10	9.42	9.42	475	4,540	4,581	8,966	9,039	9,760
Retained Earnings	-0.86	-0.60	-0.26	-2.37	-1.81	-2.40	4.98	-20	-104	-274	-652
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	-	-3.10	-0.10	0.00

This table displays calculated financial ratios and metrics derived from QXO's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2022	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	674,392,035.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	674,392,035.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.41
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.78%	23.44%	88.82%	-97.11%	1,970.67%	7.06%	1.17%	7.87%	0.00%	4.32%	11,924.96%
EBITDA Growth	16.96%	100.84%	-20.51%	-150.64%	-20.39%	242.89%	9.30%	-7.72%	0.00%	-22,433.96%	371.96%
EBIT Growth	4.49%	159.73%	-26.47%	-223.62%	-62.18%	112.57%	-61.81%	-526.43%	0.00%	-5,315.71%	-237.61%
NOPAT Growth	39.56%	1,064.66%	-114.02%	-61.44%	-64.25%	113.18%	305.12%	-137.85%	0.00%	-4,158.61%	-338.60%
Net Income Growth	94.04%	818.07%	-114.16%	153.95%	2,488.95%	-97.41%	-176.54%	-109.93%	0.00%	2,713.93%	-1,097.86%
EPS Growth	80.00%	755.56%	-114.29%	154.55%	2,416.67%	-97.35%	-175.00%	-66.67%	0.00%	93.25%	-472.73%
Operating Cash Flow Growth	-87.24%	1,316.53%	28.69%	-117.26%	0.26%	535.10%	-86.93%	801.81%	0.00%	14,434.76%	208.25%
Free Cash Flow Firm Growth	-1,280.19%	144.92%	17.50%	-342.55%	124.85%	6.14%	-71.99%	104.38%	0.00%	-2,567.43%	-52,327.87%
Invested Capital Growth	371.40%	126.71%	-39.45%	83.25%	-42.11%	-22.03%	21.57%	-8.14%	0.00%	-570.80%	68,549.35%
Revenue Q/Q Growth	11.41%	0.63%	87.63%	-97.60%	541.25%	3.36%	23.92%	-13.39%	0.00%	0.23%	46.73%
EBITDA Q/Q Growth	11.18%	28.55%	-13.43%	-235.41%	55.82%	161.28%	-26.79%	32.04%	0.00%	-92.56%	213.14%
EBIT Q/Q Growth	36.93%	35.27%	-19.38%	-852.32%	29.00%	137.99%	-89.81%	54.90%	0.00%	-90.09%	-14.79%
NOPAT Q/Q Growth	-24.32%	24.09%	-174.23%	-852.32%	28.10%	139.18%	-19.68%	54.90%	0.00%	-40.96%	-17.43%
Net Income Q/Q Growth	8.08%	8.58%	-174.18%	131.54%	-12.65%	115.00%	-121.54%	56.04%	0.00%	63.02%	-57.04%
EPS Q/Q Growth	12.50%	10.00%	-173.33%	131.58%	-12.72%	0.00%	0.00%	-107.94%	0.00%	-320.00%	-152.00%
Operating Cash Flow Q/Q Growth	626.89%	2.58%	55.74%	-120.70%	73.86%	1,043.31%	-87.15%	89.32%	0.00%	176.80%	102.98%
Free Cash Flow Firm Q/Q Growth	-19.51%	191.31%	248.92%	-2,965.62%	135.52%	177.72%	-57.27%	102.21%	-100.00%	38.44%	1.47%
Invested Capital Q/Q Growth	11.83%	4.60%	-40.98%	7.80%	18.09%	-25.96%	-19.41%	-20.54%	160.68%	-330.09%	-1.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.23%	37.30%	100.00%	62.27%	38.12%	40.22%	41.27%	39.93%	39.93%	40.32%	22.99%
EBITDA Margin	3.53%	5.75%	2.42%	-42.48%	-2.47%	3.30%	3.56%	3.05%	3.05%	-122.87%	2.78%
Operating Margin	1.29%	3.71%	1.46%	-62.44%	-4.95%	0.54%	-0.55%	-0.86%	-0.86%	-124.84%	-3.58%
EBIT Margin	1.78%	3.74%	1.46%	-62.44%	-4.89%	0.57%	0.22%	-0.86%	-0.86%	-124.84%	-3.50%
Profit (Net Income) Margin	1.35%	10.07%	-0.76%	14.11%	17.65%	0.43%	-0.32%	-0.63%	-0.63%	49.18%	-4.08%
Tax Burden Percent	86.18%	283.38%	-53.60%	-21.82%	-353.34%	78.75%	-308.54%	59.49%	59.49%	55.04%	82.88%
Interest Burden Percent	88.31%	94.94%	96.63%	103.59%	102.11%	94.25%	48.21%	123.10%	123.10%	-71.57%	140.63%
Effective Tax Rate	13.82%	-183.38%	153.60%	0.00%	0.00%	21.25%	408.54%	0.00%	0.00%	44.96%	0.00%
Return on Invested Capital (ROIC)	49.27%	110.92%	-13.96%	-21.09%	-33.91%	6.85%	28.59%	-7.55%	-8.18%	0.00%	-3.26%
ROIC Less NNEP Spread (ROIC-NNEP)	7.82%	709.59%	-15.67%	-272.84%	-337.45%	6.85%	43.13%	-7.33%	-7.88%	0.00%	1.83%
Return on Net Nonoperating Assets (RNNOA)	-1.58%	-5.63%	3.38%	27.22%	136.63%	-4.68%	-30.20%	4.56%	4.41%	0.00%	-0.52%
Return on Equity (ROE)	47.68%	105.29%	-10.58%	6.13%	102.72%	2.17%	-1.62%	-2.99%	-3.78%	1.11%	-3.79%
Cash Return on Invested Capital (CROIC)	-121.29%	33.36%	35.18%	-79.87%	19.43%	31.61%	9.12%	0.93%	0.00%	0.00%	-101.77%
Operating Return on Assets (OROA)	7.26%	13.35%	8.91%	-10.48%	-12.27%	1.36%	0.55%	-1.95%	-1.88%	-2.77%	-2.28%
Return on Assets (ROA)	5.53%	35.90%	-4.62%	2.37%	44.27%	1.01%	-0.82%	-1.43%	-1.38%	1.09%	-2.66%
Return on Common Equity (ROCE)	47.68%	105.29%	-10.58%	6.13%	102.72%	2.17%	-1.62%	-2.99%	-3.78%	1.00%	-3.39%
Return on Equity Simple (ROE_SIMPLE)	24.05%	69.13%	-11.51%	6.06%	76.39%	2.41%	-1.44%	0.00%	-3.78%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.31	3.59	-0.50	-0.81	-1.33	0.18	0.71	-0.27	-0.27	-39	-172
NOPAT Margin	1.12%	10.53%	-0.78%	-43.71%	-3.47%	0.43%	1.71%	-0.60%	-0.60%	-68.72%	-2.51%
Net Nonoperating Expense Percent (NNEP)	41.45%	-598.67%	1.71%	251.75%	303.53%	-0.01%	-14.54%	-0.21%	-0.30%	2.64%	-5.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-2.36%	-	-0.77%	-1.33%
Cost of Revenue to Revenue	60.77%	62.70%	0.00%	37.73%	61.88%	59.78%	58.74%	60.07%	60.07%	59.68%	77.01%
SG&A Expenses to Revenue	20.39%	18.68%	11.41%	429.21%	22.79%	20.07%	22.55%	21.05%	21.05%	163.42%	20.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	37.93%	33.59%	6.73%	805.12%	43.08%	39.68%	41.82%	40.78%	40.78%	165.16%	26.57%
Earnings before Interest and Taxes (EBIT)	0.49	1.28	0.94	-1.16	-1.88	0.24	0.09	-0.39	-0.39	-71	-240
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	0.98	1.96	1.56	-0.79	-0.95	1.36	1.49	1.37	1.37	-70	190
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.30	0.10	3.16	1.69	1.59	1.60	2.28	1.26	1.94	1.43	1.50
Price to Tangible Book Value (P/TBV)	0.00	0.23	11.27	13.78	2.61	3.72	4.40	2.90	10.28	1.43	0.00
Price to Revenue (P/Rev)	0.02	0.01	0.21	3.95	0.37	0.28	0.51	0.27	0.32	114.46	1.90
Price to Earnings (P/E)	1.26	0.14	0.23	0.00	2.08	66.47	0.00	0.00	0.00	232.76	0.00
Dividend Yield	0.00%	0.00%	2.02%	0.00%	1.60%	34.70%	23.55%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	79.65%	705.89%	439.24%	0.00%	48.18%	1.50%	0.00%	0.00%	0.00%	0.43%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.44	0.00	4.35	1.43	2.02	2.94	5.59	1.72	3.13	0.00	1.41
Enterprise Value to Revenue (EV/Rev)	0.03	0.00	0.18	3.85	0.15	0.16	0.37	0.13	0.23	34.12	2.18
Enterprise Value to EBITDA (EV/EBITDA)	0.90	0.00	7.59	0.00	0.00	4.88	10.29	4.29	7.54	0.00	78.38
Enterprise Value to EBIT (EV/EBIT)	1.79	0.00	12.60	0.00	0.00	27.99	169.16	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	2.86	0.00	0.00	0.00	0.00	37.66	21.45	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	6.95	0.00	5.13	0.00	0.00	3.83	67.64	2.89	5.07	22.86	57.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	9.33	0.00	7.62	8.16	67.24	176.03	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.03	0.23	0.17	0.40	0.17	0.21	0.08	0.19	0.26	0.00	0.33
Long-Term Debt to Equity	0.70	0.11	0.07	0.27	0.11	0.14	0.05	0.11	0.17	0.00	0.33
Financial Leverage	-0.20	-0.01	-0.22	-0.10	-0.40	-0.68	-0.70	-0.62	-0.56	-1.00	-0.29
Leverage Ratio	8.62	2.93	2.29	2.59	2.32	2.15	1.98	2.09	2.74	1.01	1.42
Compound Leverage Factor	7.62	2.78	2.21	2.68	2.37	2.03	0.95	2.57	3.38	-0.72	2.00
Debt to Total Capital	50.76%	18.50%	14.43%	28.33%	14.71%	17.50%	7.49%	16.27%	20.64%	0.00%	24.77%
Short-Term Debt to Total Capital	16.41%	9.53%	8.41%	8.87%	5.48%	6.18%	2.90%	6.87%	7.45%	0.00%	0.00%
Long-Term Debt to Total Capital	34.35%	8.96%	6.02%	19.46%	9.23%	11.33%	4.58%	9.40%	13.18%	0.00%	24.77%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.87%	8.19%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	49.24%	81.50%	85.57%	71.67%	85.29%	82.50%	92.51%	83.73%	79.36%	90.13%	67.04%
Debt to EBITDA	1.64	0.57	0.46	-2.17	-1.61	1.14	0.51	1.35	1.42	0.00	16.81
Net Debt to EBITDA	0.42	-0.25	-0.98	0.24	8.70	-3.72	-4.08	-4.49	-3.06	72.53	4.39
Long-Term Debt to EBITDA	1.11	0.28	0.19	-1.49	-1.01	0.74	0.31	0.78	0.91	0.00	16.81
Debt to NOPAT	5.20	0.31	-1.42	-2.11	-1.15	8.78	1.06	-6.88	-7.20	-0.01	-18.62
Net Debt to NOPAT	1.33	-0.14	3.02	0.23	6.20	-28.71	-8.50	22.81	15.57	129.69	-4.86
Long-Term Debt to NOPAT	3.52	0.15	-0.59	-1.45	-0.72	5.68	0.65	-3.98	-4.60	-0.01	-18.62
Altman Z-Score	1.64	2.68	6.70	-0.60	2.77	3.56	4.14	2.75	2.69	87.19	1.91
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.85%	10.54%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.88	0.96	0.92	0.78	1.50	1.28	1.47	1.27	1.02	112.85	3.58
Quick Ratio	0.79	0.90	0.86	0.64	1.31	1.22	1.24	0.99	0.81	112.44	2.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2.40	1.08	1.27	-3.08	0.76	0.81	0.23	0.03	0.00	-20	-10,728
Operating Cash Flow to CapEx	187.69%	361.20%	305.60%	-100.15%	-260.76%	1,385.69%	196.96%	1,079.99%	5,261.45%	83,218.63%	334.27%
Free Cash Flow to Firm to Interest Expense	-41.82	16.70	40.04	-73.84	19.21	59.62	4.86	0.38	0.00	0.00	-215.86
Operating Cash Flow to Interest Expense	2.20	27.74	72.84	-9.56	-9.98	126.99	4.83	22.90	22.90	0.00	5.26
Operating Cash Flow Less CapEx to Interest Expense	1.03	20.06	49.01	-19.10	-13.81	117.83	2.38	20.78	22.46	0.00	3.69
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	4.08	3.57	6.12	0.17	2.51	2.37	2.53	2.28	2.19	0.02	0.65
Accounts Receivable Turnover	9.97	11.04	22.49	0.77	16.11	18.97	21.70	18.70	14.22	20.06	11.92
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	76.74	76.55	124.65	2.96	54.97	66.72	71.90	66.73	89.37	125.96	19.86
Accounts Payable Turnover	11.25	12.53	0.00	0.34	11.24	12.06	12.52	10.18	5.92	6.31	12.77
Days Sales Outstanding (DSO)	36.62	33.08	16.23	474.22	22.66	19.24	16.82	19.52	25.67	18.19	30.61
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	32.46	29.14	0.00	1,072.35	32.47	30.26	29.16	35.86	61.63	57.87	28.58
Cash Conversion Cycle (CCC)	4.16	3.93	16.23	-598.13	-9.81	-11.02	-12.34	-16.34	-35.97	-39.68	2.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1.98	4.49	2.72	4.99	2.89	2.25	2.74	3.42	3.30	-15	10,541
Invested Capital Turnover	44.17	10.54	17.86	0.48	9.78	16.05	16.73	12.58	13.64	-9.38	1.30
Increase / (Decrease) in Invested Capital	2.71	2.51	-1.77	2.27	-2.10	-0.64	0.49	-0.30	0.00	-19	10,557
Enterprise Value (EV)	0.88	-0.01	12	7.15	5.83	6.62	15	5.88	10	1,940	14,900
Market Capitalization	0.47	0.49	13	7.34	14	12	21	12	15	6,510	13,009
Book Value per Share	$0.36	$1.13	$0.94	$0.96	$1.98	$1.62	$1.82	$1.86	$1.45	$11.12	$12.83
Tangible Book Value per Share	($0.33)	$0.48	$0.26	$0.12	$1.20	$0.70	$0.94	$0.81	$0.28	$11.11	($0.42)
Total Capital	3.16	6.10	4.94	6.05	10	8.82	10	11	9.42	5,053	12,903
Total Debt	1.60	1.13	0.71	1.71	1.53	1.54	0.76	1.86	1.94	0.20	3,196
Total Long-Term Debt	1.09	0.55	0.30	1.18	0.96	1.00	0.46	1.07	1.24	0.20	3,196
Net Debt	0.41	-0.49	-1.52	-0.19	-8.27	-5.05	-6.06	-6.15	-4.20	-5,068	834
Capital Expenditures (CapEx)	0.07	0.50	0.76	0.40	0.15	0.12	0.11	0.19	0.04	0.10	78
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.35	-1.23	-2.26	-2.71	-4.92	-4.15	-3.09	-4.28	-5.17	-24	1,635
Debt-free Net Working Capital (DFNWC)	-0.16	0.39	-0.03	-0.81	4.89	2.44	3.72	3.73	0.98	5,045	3,996
Net Working Capital (NWC)	-0.68	-0.19	-0.44	-1.35	4.32	1.90	3.43	2.95	0.27	5,045	3,996
Net Nonoperating Expense (NNE)	-0.07	0.15	-0.02	-1.08	-8.13	0.00	0.85	0.01	0.01	-67	108
Net Nonoperating Obligations (NNO)	0.43	-0.48	-1.51	0.65	-6.01	-5.03	-6.62	-6.13	-4.18	-5,068	834
Total Depreciation and Amortization (D&A)	0.49	0.68	0.62	0.37	0.93	1.12	1.39	1.76	1.76	1.12	430
Debt-free, Cash-free Net Working Capital to Revenue	-4.89%	-3.61%	-3.51%	-145.86%	-12.78%	-10.07%	-7.41%	-9.51%	-11.49%	-42.20%	23.89%
Debt-free Net Working Capital to Revenue	-0.57%	1.14%	-0.04%	-43.63%	12.70%	5.93%	8.93%	8.29%	2.17%	8,869.76%	58.41%
Net Working Capital to Revenue	-2.44%	-0.57%	-0.69%	-72.47%	11.21%	4.61%	8.22%	6.55%	0.61%	8,869.76%	58.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.09	$0.78	($0.11)	$0.06	$1.51	$0.04	($0.03)	($0.40)	($0.05)	($0.11)	($0.63)
Adjusted Weighted Average Basic Shares Outstanding	4.30M	4.41M	4.49M	4.50M	4.50M	4.50M	5.03M	645.89K	5.17M	204.00M	613M
Adjusted Diluted Earnings per Share	$0.09	$0.77	($0.11)	$0.06	$1.51	$0.04	($0.03)	($0.40)	($0.05)	($0.11)	($0.63)
Adjusted Weighted Average Diluted Shares Outstanding	4.32M	4.47M	4.49M	4.71M	4.50M	4.50M	5.03M	645.89K	5.17M	204.00M	613M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	4.41M	4.49M	4.50M	4.50M	4.50M	5.06M	5.14M	657.02K	5.32M	409.43M	708.55M
Normalized Net Operating Profit after Tax (NOPAT)	0.36	0.92	0.73	-0.79	-1.16	0.18	0.15	-0.14	-0.14	-39	-172
Normalized NOPAT Margin	1.31%	2.69%	1.13%	-42.66%	-3.01%	0.45%	0.35%	-0.32%	-0.32%	-68.72%	-2.51%
Pre Tax Income Margin	1.57%	3.55%	1.41%	-64.69%	-4.99%	0.54%	0.10%	-1.05%	-1.05%	89.34%	-4.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.56	19.75	29.63	-27.86	-47.30	17.38	1.93	-4.33	-4.33	0.00	-4.82
NOPAT to Interest Expense	5.36	55.53	-15.88	-19.50	-33.53	12.92	15.23	-3.03	-3.03	0.00	-3.45
EBIT Less CapEx to Interest Expense	7.38	12.07	5.80	-37.40	-51.12	8.22	-0.52	-6.45	-4.76	0.00	-6.40
NOPAT Less CapEx to Interest Expense	4.19	47.85	-39.72	-29.04	-37.36	3.76	12.78	-5.15	-3.47	0.00	-5.03
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	7.70%	-73.80%	0.00%	3.31%	2,306.41%	-2,292.36%	0.00%	0.00%	177.52%	-37.51%
Augmented Payout Ratio	0.00%	7.70%	-73.80%	1.40%	3.31%	2,306.41%	-2,292.36%	0.00%	0.00%	177.52%	-37.51%

This table displays calculated financial ratios and metrics derived from QXO's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2022	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	674,392,035.00	708,551,189.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	674,392,035.00	708,551,189.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.13	-0.32
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.96%	0.00%	9.96%	9.38%	-2.41%	0.87%	-6.43%	13,047.59%	20,726.72%	14,660.44%	12,716.30%
EBITDA Growth	-945.81%	0.00%	-19.08%	-757.90%	-1,338.57%	-4,917.39%	-7,836.49%	-1,184.61%	657.61%	376.32%	-112.05%
EBIT Growth	-2,075.54%	0.00%	-38.39%	-1,042.98%	-1,213.33%	-7,983.97%	-17,330.70%	-3,630.23%	180.71%	-109.50%	-534.10%
NOPAT Growth	463.45%	0.00%	-47.98%	-942.38%	-1,289.33%	-3,170.90%	-13,268.20%	-3,669.77%	172.60%	-265.81%	-782.06%
Net Income Growth	-1,471.98%	0.00%	-50.24%	-274.42%	915.17%	2,583.57%	6,244.20%	-9,650.00%	-910.47%	-901.41%	-2,680.68%
EPS Growth	-1,233.33%	0.00%	0.00%	-2,009.62%	99.69%	-90.63%	-114.29%	98.49%	-2,300.00%	-350.00%	-1,066.67%
Operating Cash Flow Growth	-29.21%	0.00%	146.68%	-331.99%	2,667.08%	23,169.66%	9,901.10%	-16,257.18%	572.47%	246.20%	93.42%
Free Cash Flow Firm Growth	435.55%	0.00%	154.80%	-114.76%	-2,517.91%	821.87%	11.36%	-4,611,496.49%	-35,287.81%	-198,330.73%	-641,675.27%
Invested Capital Growth	-70.65%	0.00%	-30.47%	-62.33%	429.19%	-570.80%	-685.59%	649,941.79%	160,503.62%	68,549.35%	55,893.86%
Revenue Q/Q Growth	1.25%	-61.43%	178.84%	0.44%	-9.66%	13.26%	-8.96%	14,013.12%	43.11%	-19.58%	-21.14%
EBITDA Q/Q Growth	-382.05%	59.95%	165.34%	-888.62%	-742.51%	1.77%	-18.54%	-30.95%	465.71%	-51.29%	-190.89%
EBIT Q/Q Growth	-660.78%	35.96%	113.89%	-1,985.96%	-683.72%	1.40%	-18.23%	-308.29%	116.96%	-355.93%	-257.97%
NOPAT Q/Q Growth	-16.18%	-608.20%	109.96%	-2,089.83%	-726.49%	46.62%	-50.01%	-469.64%	115.92%	-369.82%	-261.85%
Net Income Q/Q Growth	-714.57%	157.20%	-88.56%	-534.78%	2,966.67%	-34.70%	-22.05%	-768.19%	-138.29%	35.25%	-151.62%
EPS Q/Q Growth	-671.43%	0.00%	0.00%	-4,828.57%	99.90%	700.00%	-150.00%	-400.00%	-60.00%	37.50%	-133.33%
Operating Cash Flow Q/Q Growth	148.55%	6.93%	-70.06%	-391.78%	3,067.14%	70.83%	-32.38%	-577.22%	221.98%	-12.19%	-62.17%
Free Cash Flow Firm Q/Q Growth	106.89%	-100.00%	0.00%	-115.55%	-12,605.16%	117.79%	-68.32%	-644,067.37%	2.51%	1.11%	0.98%
Invested Capital Q/Q Growth	-71.56%	160.68%	-4.32%	-46.90%	299.58%	-330.09%	-19.95%	59,041.16%	-1.28%	-1.94%	-2.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.86%	39.94%	39.19%	40.00%	41.98%	40.26%	39.87%	21.07%	23.30%	24.15%	23.66%
EBITDA Margin	-16.66%	-17.30%	4.05%	-27.42%	-255.73%	-221.78%	-288.77%	-2.68%	6.85%	4.15%	-4.78%
Operating Margin	3.18%	-31.65%	1.58%	-29.66%	-257.25%	-223.95%	-290.84%	-8.50%	0.95%	-3.17%	-14.56%
EBIT Margin	-19.06%	-31.65%	1.58%	-29.66%	-257.25%	-223.95%	-290.84%	-8.41%	1.00%	-3.17%	-14.40%
Profit (Net Income) Margin	-15.72%	23.32%	0.96%	-4.14%	131.30%	75.70%	64.81%	-3.07%	-5.11%	-4.11%	-13.13%
Tax Burden Percent	82.23%	92.80%	66.51%	75.00%	73.82%	39.96%	50.70%	24.76%	1,327.62%	83.91%	81.02%
Interest Burden Percent	100.30%	-79.38%	91.19%	18.60%	-69.14%	-84.58%	-43.95%	147.32%	-38.60%	154.52%	112.48%
Effective Tax Rate	0.00%	7.20%	33.49%	0.00%	26.18%	60.04%	49.30%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-400.78%	12.63%	-387.05%	-2,708.32%	0.00%	0.00%	-2.13%	0.57%	-2.89%	-16.96%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-466.10%	12.90%	-387.54%	-2,709.98%	0.00%	0.00%	3,289.49%	8.24%	-0.93%	-14.90%
Return on Net Nonoperating Assets (RNNOA)	0.00%	260.46%	-7.22%	385.13%	2,705.71%	0.00%	0.00%	1.01%	-2.28%	0.27%	4.83%
Return on Equity (ROE)	0.00%	-140.32%	5.40%	-1.92%	-2.60%	1.11%	1.44%	-1.12%	-1.70%	-2.62%	-12.13%
Cash Return on Invested Capital (CROIC)	109.23%	0.00%	26.35%	-51.44%	-833.23%	0.00%	0.00%	-203.39%	-202.47%	-101.77%	-103.29%
Operating Return on Assets (OROA)	0.00%	-69.47%	3.48%	-3.36%	-5.75%	-4.98%	-6.34%	-1.81%	0.43%	-2.07%	-11.32%
Return on Assets (ROA)	0.00%	51.18%	2.11%	-0.47%	2.93%	1.68%	1.41%	-0.66%	-2.20%	-2.68%	-10.32%
Return on Common Equity (ROCE)	0.00%	-140.32%	5.40%	-0.95%	-2.34%	1.00%	1.30%	-0.96%	-1.53%	-2.35%	-10.89%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	-5.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.30	-1.52	0.15	-3.01	-25	-13	-20	-113	18	-49	-176
NOPAT Margin	2.23%	-29.37%	1.05%	-20.76%	-189.90%	-89.50%	-147.46%	-5.95%	0.66%	-2.22%	-10.19%
Net Nonoperating Expense Percent (NNEP)	-43.78%	65.33%	-0.27%	0.49%	1.67%	0.97%	1.13%	-3,291.62%	-7.66%	-1.96%	-2.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-0.31%	-0.49%	-0.26%	-0.39%	-0.86%	0.14%	-0.38%	-1.32%
Cost of Revenue to Revenue	60.14%	60.06%	60.81%	60.00%	58.02%	59.74%	60.13%	78.93%	76.70%	75.85%	76.34%
SG&A Expenses to Revenue	18.61%	39.21%	19.70%	67.59%	297.71%	262.54%	328.85%	23.96%	16.59%	20.10%	28.73%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.67%	71.59%	37.61%	69.66%	299.24%	264.22%	330.71%	29.57%	22.36%	27.32%	38.22%
Earnings before Interest and Taxes (EBIT)	-2.56	-1.64	0.23	-4.30	-34	-33	-39	-160	27	-70	-249
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.24	-0.90	0.59	-3.98	-34	-33	-39	-51	187	91	-83
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.44	1.94	9.21	0.10	1.42	1.43	1.22	1.26	1.46	1.50	1.51
Price to Tangible Book Value (P/TBV)	8.08	10.28	39.81	0.10	1.42	1.43	1.22	0.00	0.00	0.00	50.16
Price to Revenue (P/Rev)	0.00	0.32	1.51	0.84	113.78	114.46	99.09	5.74	2.75	1.90	1.61
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	376.34	232.76	151.52	0.00	0.00	0.00	0.00
Dividend Yield	6.10%	0.00%	1.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.27%	0.43%	0.66%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	9.04	3.13	20.81	0.00	286.63	0.00	0.00	1.21	1.38	1.41	1.45
Enterprise Value to Revenue (EV/Rev)	0.00	0.23	1.42	0.00	33.81	34.12	17.24	6.78	3.18	2.18	1.75
Enterprise Value to EBITDA (EV/EBITDA)	0.00	7.54	53.25	0.00	0.00	0.00	0.00	0.00	244.15	78.38	102.18
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	5.07	20.59	0.00	62.56	22.86	7.97	0.00	115.09	57.00	50.62
Enterprise Value to Free Cash Flow (EV/FCFF)	3.75	0.00	64.75	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.26	0.24	0.00	0.00	0.00	0.00	0.33	0.33	0.33	0.31
Long-Term Debt to Equity	0.09	0.17	0.14	0.00	0.00	0.00	0.00	0.33	0.33	0.33	0.31
Financial Leverage	-0.66	-0.56	-0.56	-0.99	-1.00	-1.00	-1.00	0.00	-0.28	-0.29	-0.32
Leverage Ratio	2.31	2.74	2.40	1.03	1.01	1.01	1.01	1.66	1.46	1.42	1.43
Compound Leverage Factor	2.32	-2.18	2.19	0.19	-0.70	-0.86	-0.45	2.45	-0.56	2.20	1.61
Debt to Total Capital	13.14%	20.64%	19.12%	0.18%	0.00%	0.00%	0.07%	24.69%	24.77%	24.77%	23.88%
Short-Term Debt to Total Capital	5.10%	7.45%	7.79%	0.08%	0.00%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	8.04%	13.18%	11.33%	0.10%	0.00%	0.00%	0.00%	24.69%	24.77%	24.77%	23.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	51.25%	9.89%	9.87%	9.85%	8.03%	8.09%	8.19%	7.91%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	86.86%	79.36%	80.88%	48.57%	90.11%	90.13%	90.08%	67.28%	67.13%	67.04%	68.21%
Debt to EBITDA	0.00	1.42	1.46	-0.34	-0.01	0.00	-0.03	-20.55	53.27	16.81	21.78
Net Debt to EBITDA	0.00	-3.06	-3.64	189.75	138.80	72.53	46.42	-6.15	15.27	4.39	0.97
Long-Term Debt to EBITDA	0.00	0.91	0.87	-0.18	-0.01	0.00	0.00	-20.55	53.27	16.81	21.78
Debt to NOPAT	0.00	-7.20	-4.87	-0.40	-0.01	-0.01	-0.06	-17.31	-22.13	-18.62	-9.95
Net Debt to NOPAT	0.00	15.57	12.14	223.09	181.67	129.69	85.24	-5.18	-6.34	-4.86	-0.44
Long-Term Debt to NOPAT	0.00	-4.60	-2.89	-0.22	-0.01	-0.01	0.00	-17.31	-22.13	-18.62	-9.95
Altman Z-Score	0.31	2.48	5.34	2.90	196.01	87.21	63.01	1.31	1.69	1.95	2.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	50.81%	9.87%	9.85%	9.84%	14.29%	10.46%	10.54%	10.22%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.05	1.02	1.05	61.84	258.64	112.85	95.23	3.00	3.06	3.58	3.33
Quick Ratio	0.94	0.81	0.80	61.49	257.81	112.44	94.88	1.78	1.90	2.26	2.16
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3.34	0.00	1.53	-0.24	-30	5.39	1.71	-11,000	-10,724	-10,605	-10,502
Operating Cash Flow to CapEx	2,236.19%	0.00%	603.91%	-2,730.77%	0.00%	2,699,150.00%	25,002.74%	-890.89%	705.98%	657.04%	313.78%
Free Cash Flow to Firm to Interest Expense	437.19	0.00	76.47	0.00	0.00	0.00	0.00	-240.70	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	149.28	26.14	18.22	0.00	0.00	0.00	0.00	-3.81	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	142.60	26.91	15.20	0.00	0.00	0.00	0.00	-4.24	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	2.19	2.21	0.11	0.02	0.02	0.02	0.22	0.43	0.65	0.79
Accounts Receivable Turnover	0.00	14.22	14.25	19.87	21.50	20.06	17.04	2.47	5.96	11.92	15.03
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	89.37	82.62	106.86	114.77	125.96	108.43	0.00	13.49	19.86	25.93
Accounts Payable Turnover	0.00	5.92	7.26	7.66	9.25	6.31	6.22	2.13	5.64	12.77	11.19
Days Sales Outstanding (DSO)	0.00	25.67	25.61	18.37	16.98	18.19	21.42	147.92	61.24	30.61	24.29
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	61.63	50.26	47.63	39.45	57.87	58.73	171.02	64.71	28.58	32.62
Cash Conversion Cycle (CCC)	0.00	-35.97	-24.65	-29.26	-22.47	-39.68	-37.31	-23.11	-3.48	2.04	-8.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1.26	3.30	3.15	1.68	6.69	-15	-18	10,888	10,749	10,541	10,307
Invested Capital Turnover	0.00	13.64	12.04	18.65	14.26	-9.38	-7.30	0.36	0.87	1.30	1.66
Increase / (Decrease) in Invested Capital	-3.04	0.00	-1.38	-2.77	5.43	-19	-22	10,887	10,743	10,557	10,325
Enterprise Value (EV)	11	10	66	-423	1,918	1,940	964	13,202	14,822	14,900	14,959
Market Capitalization	17	15	70	48	6,457	6,510	5,544	11,172	12,838	13,009	13,760
Book Value per Share	$1.34	$1.45	$1.43	$675.07	$11.10	$11.12	$11.14	$17.08	$13.01	$12.83	$12.85
Tangible Book Value per Share	$0.41	$0.28	$0.33	$667.04	$11.09	$11.11	$11.13	($0.55)	($0.36)	($0.42)	$0.39
Total Capital	8.12	9.42	9.41	973	5,044	5,053	5,063	13,167	13,056	12,903	13,353
Total Debt	1.07	1.94	1.80	1.72	0.22	0.20	3.79	3,251	3,234	3,196	3,188
Total Long-Term Debt	0.65	1.24	1.07	0.94	0.22	0.20	0.16	3,251	3,234	3,196	3,188
Net Debt	-5.81	-4.20	-4.48	-970	-5,037	-5,068	-5,078	973	927	834	142
Capital Expenditures (CapEx)	0.05	-0.04	0.06	0.04	0.00	0.00	0.15	20	30	28	23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.98	-5.17	-4.99	-6.51	-1.02	-24	-28	2,051	1,874	1,635	1,473
Debt-free Net Working Capital (DFNWC)	0.90	0.98	1.29	965	5,036	5,045	5,054	4,329	4,181	3,996	4,519
Net Working Capital (NWC)	0.49	0.27	0.56	964	5,036	5,045	5,050	4,329	4,181	3,996	4,519
Net Nonoperating Expense (NNE)	2.41	-2.73	0.01	-2.41	-42	-25	-29	-55	157	42	51
Net Nonoperating Obligations (NNO)	-5.79	-4.18	-4.46	-970	-5,037	-5,068	-5,078	973	927	834	142
Total Depreciation and Amortization (D&A)	0.32	0.74	0.36	0.32	0.20	0.32	0.28	109	160	161	167
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-11.49%	-10.78%	-11.40%	-1.80%	-42.20%	-49.32%	105.29%	40.19%	23.89%	17.21%
Debt-free Net Working Capital to Revenue	0.00%	2.17%	2.78%	1,690.56%	8,874.91%	8,869.76%	9,034.01%	222.27%	89.66%	58.41%	52.80%
Net Working Capital to Revenue	0.00%	0.61%	1.20%	1,689.19%	8,874.91%	8,869.76%	9,027.53%	222.27%	89.66%	58.41%	52.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.40)	$0.00	$0.00	($9.93)	($0.01)	$0.06	($0.03)	($0.15)	($0.24)	($0.15)	($0.35)
Adjusted Weighted Average Basic Shares Outstanding	5.26M	5.17M	5.32M	664K	358.81M	204.00M	451.43M	564.70M	715.30M	613M	744.40M
Adjusted Diluted Earnings per Share	($0.40)	$0.00	$0.00	($9.93)	($0.01)	$0.06	($0.03)	($0.15)	($0.24)	($0.15)	($0.35)
Adjusted Weighted Average Diluted Shares Outstanding	5.26M	5.17M	5.32M	664K	358.81M	204.00M	451.43M	564.70M	715.30M	613M	744.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.06	$0.00	$0.00	$0.00	($0.15)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	5.26M	5.32M	5.32M	409.43M	409.43M	409.43M	518.68M	673.56M	674.39M	708.55M	725.17M
Normalized Net Operating Profit after Tax (NOPAT)	0.30	-1.39	0.15	-3.01	-25	-23	-20	-113	18	-49	-176
Normalized NOPAT Margin	2.23%	-26.89%	1.05%	-20.76%	-189.90%	-156.77%	-147.46%	-5.95%	0.66%	-2.22%	-10.19%
Pre Tax Income Margin	-19.12%	25.13%	1.44%	-5.52%	177.86%	189.42%	127.83%	-12.40%	-0.38%	-4.90%	-16.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-334.60	-35.09	11.35	0.00	0.00	0.00	0.00	-3.51	0.00	0.00	0.00
NOPAT to Interest Expense	39.13	-32.56	7.55	0.00	0.00	0.00	0.00	-2.48	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-341.27	-34.31	8.33	0.00	0.00	0.00	0.00	-3.94	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	32.45	-31.79	4.53	0.00	0.00	0.00	0.00	-2.91	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	-856.79%	158.54%	177.52%	197.21%	-362.44%	-54.44%	-37.51%	-21.87%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-856.79%	158.54%	177.52%	197.21%	-362.44%	-54.44%	-37.51%	-21.87%

Financials Breakdown Chart

Key Financial Trends

QXO (NYSE: QXO) shows a notable topline expansion in 2025 alongside continued profitability pressure and shifting cash flows. Below are the 10 most important trends observed from the last four years of quarterly statements, focusing on revenue, profitability, cash flow, and balance-sheet liquidity.

Revenue momentum in 2025: quarterly operating revenue climbs into the mid-to-high 2 billions (roughly 1.9B in Q2, 2.73B in Q3, then about 2.19B in Q4), signaling strong topline scale relative to recent years.
Sharp quarterly revenue variance: Q1 2025 shows unusually low revenue (~13.5M) compared with subsequent quarters, suggesting quarterly seasonality or reporting rounding/notable anomalies.
Solid liquidity profile: cash and equivalents run around $2.2B–$2.3B in mid-to-late 2025, with total current assets well above total current liabilities, implying a healthy current ratio.
Operating cash flow generally positive in 2025: net cash from continuing operating activities was strong in Q3 (~212.5M) and Q4 (~186.6M), indicating cash generation from core operations.
Significant financing inflow in Q2 2025: net cash from continuing financing activities surged to about $7.95B due to debt/equity issuances, boosting liquidity but raising near-term leverage risk.
Dividend payout: cash dividends per share of $0.05 in Q4 2025 represent a modest cash outflow relative to cash generation, but this payout will matter if earnings deteriorate or cash flows weaken.
Debt and leverage context: long-term debt around $3.1B and total liabilities near $6.8–7.2B across 2025 quarters, with equity running around $8.8–9.0B, indicating a noticeable but potentially manageable leverage position.
Profits remain negative in 2025: net income is reported as a loss across quarters (e.g., Q3 -$139.4M, Q4 -$90.3M; Q2 -$58.6M; Q1 negative in several presentations), highlighting ongoing profitability challenges.
Gross margin compression in 2025: gross margins run in the 23–24% range in 2025 (versus roughly 40% in some 2024 periods), signaling cost/mix pressures or shifts in product/service mix.
Earnings per share remain negative: basic and diluted EPS sit around -$0.15 in Q4 2025, reflecting the profitability gap despite revenue growth and a sizable share count.

Bottom line: QXO’s 2025 results show meaningful topline growth and solid near-term liquidity, but profitability remains a material concern, with margin compression and negative per-share earnings notable despite robust operating cash flow in several quarters. Investors should watch for sustained improvements in gross margin, a path to positive net income, and how the company manages near-term debt and financing activity moving forward.

05/14/26 07:00 AM ETAI Generated. May Contain Errors.

QXO Financials - Frequently Asked Questions

According to the most recent income statement we have on file, QXO's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

QXO's net income appears to be on an upward trend, with a most recent value of -$279.40 million in 2025, falling from $374.31 thousand in 2015. The previous period was $28 million in 2024. Find out what analysts predict for QXO in the coming months.

QXO's total operating income in 2025 was -$245.20 million, based on the following breakdown:

Total Gross Profit: $1.57 billion
Total Operating Expenses: $1.82 billion

Over the last 10 years, QXO's total revenue changed from $27.64 million in 2015 to $6.84 billion in 2025, a change of 24,652.9%.

QXO's total liabilities were at $6.18 billion at the end of 2025, a 13,513.4% increase from 2024, and a 89,120.4% increase since 2015.

In the past 10 years, QXO's cash and equivalents has ranged from $1.19 million in 2015 to $5.07 billion in 2024, and is currently $2.36 billion as of their latest financial filing in 2025.

Over the last 10 years, QXO's book value per share changed from 0.36 in 2015 to 12.83 in 2025, a change of 3,445.2%.

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Financial statements for NYSE:QXO last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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QXO (QXO) Financials

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QXO (QXO) Financials

Annual Income Statements for QXO

Quarterly Income Statements for QXO

Annual Cash Flow Statements for QXO

Quarterly Cash Flow Statements for QXO

Annual Balance Sheets for QXO

Quarterly Balance Sheets for QXO

Annual Metrics And Ratios for QXO

Quarterly Metrics And Ratios for QXO

Financials Breakdown Chart

Key Financial Trends

QXO Financials - Frequently Asked Questions

When does QXO's fiscal year end?

How has QXO's net income changed over the last 10 years?

What is QXO's operating income?

How has QXO's revenue changed over the last 10 years?

How much debt does QXO have?

How much cash does QXO have?

How has QXO's book value per share changed over the last 10 years?

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