RXO (RXO) Financials

$18.20 +0.50 (+2.81%)

Closing price 03:59 PM Eastern

Extended Trading

$18.18 -0.01 (-0.08%)

As of 07:50 PM Eastern

Annual Income Statements for RXO

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	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	43	150	92	4.00	-290	-100
Consolidated Net Income / (Loss)	43	150	92	4.00	-290	-100
Net Income / (Loss) Continuing Operations	43	150	92	4.00	-290	-100
Total Pre-Tax Income	57	191	119	4.00	-304	-115
Total Operating Income	60	192	123	39	-56	-79
Total Gross Profit	789	1,008	1,172	960	985	1,131
Total Revenue	3,357	4,689	4,796	3,927	4,550	5,742
Operating Revenue	3,357	4,689	4,796	3,927	4,550	5,742
Total Cost of Revenue	2,568	3,681	3,624	2,967	3,565	4,611
Operating Cost of Revenue	2,568	3,681	3,624	2,967	3,565	4,611
Total Operating Expenses	729	816	1,049	921	1,041	1,210
Selling, General & Admin Expense	455	539	640	591	666	832
Depreciation Expense	76	81	86	67	87	116
Other Operating Expenses / (Income)	174	192	226	235	202	190
Impairment Charge	-	-	-	0.00	0.00	12
Restructuring Charge	24	4.00	97	28	86	60
Total Other Income / (Expense), net	-3.00	-1.00	-4.00	-35	-248	-36
Interest & Investment Income	0.00	0.00	-4.00	-32	-30	-35
Other Income / (Expense), net	-3.00	-1.00	0.00	-3.00	-218	-1.00
Income Tax Expense	14	41	27	0.00	-14	-15
Basic Earnings per Share	$0.37	$1.30	$0.80	$0.03	($2.17)	($0.59)
Weighted Average Basic Shares Outstanding	115.16M	115.16M	115.34M	116.87M	133.41M	168.46M
Diluted Earnings per Share	$0.37	$1.30	$0.79	$0.03	($2.17)	($0.59)
Weighted Average Diluted Shares Outstanding	115.16M	115.16M	115.79M	119.46M	133.41M	168.46M
Weighted Average Basic & Diluted Shares Outstanding	-	-	116.60M	117.09M	163.33M	164.19M

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	3.00	-1.00	2.00	-15	-7.00	-243	-27	-31	-9.00	-14	-46
Consolidated Net Income / (Loss)	3.00	-1.00	2.00	-15	-7.00	-243	-25	-31	-9.00	-14	-46
Net Income / (Loss) Continuing Operations	3.00	-1.00	2.00	-15	-7.00	-243	-27	-31	-9.00	-14	-46
Total Pre-Tax Income	6.00	-3.00	4.00	-21	-8.00	-242	-33	-39	-10	-15	-51
Total Operating Income	14	6.00	14	-12	0.00	-20	-24	-30	0.00	-7.00	-42
Total Gross Profit	240	234	235	214	230	231	310	280	301	284	266
Total Revenue	963	976	978	913	930	1,040	1,667	1,433	1,419	1,421	1,469
Operating Revenue	963	976	978	913	930	1,040	1,667	1,433	1,419	1,421	1,469
Total Cost of Revenue	723	742	743	699	700	809	1,357	1,153	1,118	1,137	1,203
Operating Cost of Revenue	723	742	743	699	700	809	1,357	1,153	1,118	1,137	1,203
Total Operating Expenses	226	228	221	226	230	251	334	310	301	291	308
Selling, General & Admin Expense	144	148	146	145	154	149	218	210	214	208	200
Depreciation Expense	18	16	15	16	17	21	33	32	30	26	28
Other Operating Expenses / (Income)	59	59	56	53	50	49	50	48	47	48	47
Restructuring Charge	5.00	5.00	4.00	12	9.00	32	33	20	10	9.00	21
Total Other Income / (Expense), net	-8.00	-9.00	-10	-9.00	-8.00	-222	-11	-9.00	-10	-8.00	-9.00
Interest & Investment Income	-8.00	-8.00	-8.00	-8.00	-8.00	-6.00	-8.00	-9.00	-8.00	-9.00	-9.00
Income Tax Expense	3.00	-2.00	2.00	-6.00	-1.00	1.00	-8.00	-8.00	-1.00	-1.00	-5.00
Basic Earnings per Share	$0.03	($0.01)	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)
Weighted Average Basic Shares Outstanding	116.89M	116.97M	116.87M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M
Diluted Earnings per Share	$0.03	($0.01)	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)
Weighted Average Diluted Shares Outstanding	119.46M	116.97M	119.46M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M
Weighted Average Basic & Diluted Shares Outstanding	116.98M	117.00M	117.09M	117.55M	117.63M	160.79M	163.33M	163.92M	163.99M	164.11M	164.19M

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	19	-41	69	-93	30	-17
Net Cash From Operating Activities	25	155	310	89	-12	51
Net Cash From Continuing Operating Activities	25	155	310	89	-12	51
Net Income / (Loss) Continuing Operations	43	150	92	4.00	-290	-100
Consolidated Net Income / (Loss)	43	150	92	4.00	-290	-100
Depreciation Expense	76	81	86	67	87	116
Non-Cash Adjustments To Reconcile Net Income	22	11	38	28	259	56
Changes in Operating Assets and Liabilities, net	-116	-87	94	-10	-68	-21
Net Cash From Investing Activities	-39	-38	-56	-66	-1,064	-71
Net Cash From Continuing Investing Activities	-39	-38	-56	-66	-1,064	-71
Purchase of Property, Plant & Equipment	-47	-39	-57	-64	-45	-59
Acquisitions	-	-	0.00	0.00	-1,019	-10
Sale of Property, Plant & Equipment	8.00	1.00	1.00	0.00	0.00	2.00
Other Investing Activities, net	-	0.00	0.00	-2.00	0.00	-4.00
Net Cash From Financing Activities	32	-158	-183	-117	1,108	1.00
Net Cash From Continuing Financing Activities	32	-158	-183	-117	1,108	1.00
Repayment of Debt	0.00	1.00	-10	-177	-221	-545
Repurchase of Common Equity	-	0.00	0.00	-2.00	-30	-1.00
Issuance of Debt	0.00	0.00	451	76	238	566
Issuance of Common Equity	-	-	0.00	0.00	1,125	0.00
Other Financing Activities, net	32	-159	-624	-14	-4.00	-19
Effect of Exchange Rate Changes	1.00	0.00	-2.00	1.00	-2.00	2.00
Cash Interest Paid	-	0.00	0.00	32	27	32
Cash Income Taxes Paid	2.00	5.00	3.00	27	4.00	7.00

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	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
Repayment of Debt	-1.00	-1.00	-174	-31	-63	-93	-34	-276	38	-211	-96
Issuance of Debt	-	-	76	39	80	84	35	300	-39	210	95
Issuance of Common Equity	-	-	-	-	-	-	30	-	-	-	1.00
Other Financing Activities, net	-2.00	-3.00	-2.00	-2.00	-1.00	-1.00	-	-17	-1.00	-2.00	1.00
Net Change in Cash & Equivalents	3.00	-20	-99	2.00	-	48	-20	-19	3.00	7.00	-8.00
Net Cash From Operating Activities	24	4.00	19	7.00	-5.00	-7.00	-7.00	-2.00	23	23	7.00
Net Cash From Continuing Operating Activities	24	4.00	19	7.00	-5.00	-7.00	-7.00	-2.00	23	23	7.00
Net Income / (Loss) Continuing Operations	3.00	-1.00	2.00	-15	-7.00	-243	-25	-31	-9.00	-14	-46
Consolidated Net Income / (Loss)	3.00	-1.00	2.00	-15	-7.00	-243	-25	-31	-9.00	-14	-46
Depreciation Expense	18	16	15	16	17	21	33	32	30	26	28
Non-Cash Adjustments To Reconcile Net Income	6.00	8.00	8.00	7.00	6.00	223	23	13	11	8.00	24
Changes in Operating Assets and Liabilities, net	-3.00	-19	-6.00	-1.00	-21	-8.00	-38	-16	-9.00	3.00	1.00
Net Cash From Investing Activities	-16	-19	-19	-11	-11	-1,030	-12	-25	-18	-13	-15
Net Cash From Continuing Investing Activities	-16	-19	-19	-11	-11	-1,030	-12	-25	-18	-13	-15
Purchase of Property, Plant & Equipment	-16	-18	-18	-11	-11	-11	-12	-15	-14	-14	-16
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	-	-	-	1.00
Cash Interest Paid	17	1.00	14	1.00	14	-2.00	14	2.00	14	1.00	15
Cash Income Taxes Paid	15	4.00	2.00	1.00	1.00	1.00	1.00	1.00	3.00	2.00	1.00

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

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,068	2,031	1,825	3,414	3,277
Total Current Assets	1,083	1,029	796	1,339	1,317
Cash & Equivalents	29	98	5.00	35	17
Accounts Receivable	1,010	900	743	1,227	1,226
Other Current Assets	44	31	48	77	74
Plant, Property, & Equipment, net	0.00	119	124	135	134
Total Noncurrent Assets	985	883	905	1,940	1,826
Goodwill	630	630	630	1,123	1,111
Intangible Assets	100	79	68	499	453
Other Noncurrent Operating Assets	255	174	207	318	262
Total Liabilities & Shareholders' Equity	2,068	2,031	1,825	3,414	3,277
Total Liabilities	998	1,444	1,231	1,802	1,736
Total Current Liabilities	816	823	682	1,065	1,038
Short-Term Debt	0.00	4.00	3.00	17	17
Accounts Payable	520	501	414	568	539
Accrued Expenses	248	256	199	373	397
Other Current Liabilities	48	62	66	107	85
Total Noncurrent Liabilities	182	621	549	737	698
Long-Term Debt	0.00	451	356	351	387
Noncurrent Deferred & Payable Income Tax Liabilities	52	16	7.00	88	51
Other Noncurrent Operating Liabilities	130	154	186	298	260
Commitments & Contingencies	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,070	587	594	1,612	1,541
Total Preferred & Common Equity	1,070	587	594	1,612	1,541
Preferred Stock	-	0.00	0.00	0.00	0.00
Total Common Equity	1,070	587	594	1,612	1,541
Common Stock	-	589	591	1,906	1,931
Retained Earnings	-	2.00	6.00	-284	-384
Accumulated Other Comprehensive Income / (Loss)	-2.00	-4.00	-3.00	-10	-6.00

This table presents RXO'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
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
Total Assets	2,237	2,018	1,912	1,946	1,799	1,813	3,392	3,304	3,201	3,201
Total Current Assets	1,225	1,029	916	936	770	776	1,255	1,255	1,184	1,201
Cash & Equivalents	187	121	124	104	7.00	7.00	55	16	18	25
Accounts Receivable	1,012	862	743	787	716	725	1,138	1,150	1,065	1,104
Other Current Assets	26	46	49	45	47	44	62	89	101	72
Plant, Property, & Equipment, net	0.00	0.00	116	122	121	118	175	143	137	137
Total Noncurrent Assets	1,012	989	880	888	908	919	1,962	1,906	1,880	1,863
Goodwill	630	630	630	630	630	630	1,027	1,124	1,125	1,123
Intangible Assets	85	76	73	72	65	62	565	484	474	463
Other Noncurrent Operating Assets	297	283	177	186	213	227	370	298	281	277
Total Liabilities & Shareholders' Equity	2,237	2,018	1,912	1,946	1,799	1,813	3,392	3,304	3,201	3,201
Total Liabilities	1,093	1,433	1,323	1,356	1,217	1,234	1,740	1,717	1,613	1,621
Total Current Liabilities	888	820	699	728	674	662	947	964	880	907
Short-Term Debt	5.00	4.00	4.00	3.00	16	16	15	17	16	16
Accounts Payable	547	496	432	448	372	382	572	498	461	481
Accrued Expenses	284	265	210	221	220	197	262	358	315	321
Other Current Liabilities	52	55	53	56	66	67	98	91	88	89
Total Noncurrent Liabilities	205	613	624	628	543	572	793	753	733	714
Long-Term Debt	6.00	451	451	451	351	370	352	387	387	387
Noncurrent Deferred & Payable Income Tax Liabilities	44	16	17	15	1.00	0.00	115	77	75	54
Other Noncurrent Operating Liabilities	155	146	156	162	191	202	326	289	271	273
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,144	-4.00	589	590	582	579	1,652	1,587	1,588	1,580
Total Preferred & Common Equity	1,144	585	589	590	582	579	1,652	1,587	1,588	1,580
Preferred Stock	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,144	-4.00	589	590	582	579	1,652	1,587	1,588	1,580
Common Stock	-	-	588	590	594	600	1,916	1,910	1,917	1,924
Retained Earnings	-	-	5.00	4.00	-9.00	-16	-259	-315	-324	-338
Accumulated Other Comprehensive Income / (Loss)	-4.00	-4.00	-4.00	-4.00	-3.00	-5.00	-5.00	-8.00	-5.00	-6.00

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	39.68%	2.28%	-18.12%	15.86%	26.20%
EBITDA Growth	0.00%	104.51%	-23.16%	-50.72%	-281.55%	119.25%
EBIT Growth	0.00%	235.09%	-35.60%	-70.73%	-861.11%	70.80%
NOPAT Growth	0.00%	233.13%	-36.94%	-58.99%	-200.51%	-41.07%
Net Income Growth	0.00%	248.84%	-38.67%	-95.65%	-7,350.00%	65.52%
EPS Growth	0.00%	251.35%	-39.23%	-96.20%	-7,333.33%	72.81%
Operating Cash Flow Growth	0.00%	520.00%	100.00%	-71.29%	-113.48%	525.00%
Free Cash Flow Firm Growth	0.00%	0.00%	121.58%	-81.78%	-3,060.57%	96.30%
Invested Capital Growth	0.00%	0.00%	-9.32%	0.42%	105.17%	-0.87%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-3.49%	17.85%	-3.33%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	6.19%	-12.65%	-37.93%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	50.00%	-16.60%	-26.98%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	132.14%	-211.11%	-29.51%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	300.00%	-10.27%	-26.58%
EPS Q/Q Growth	0.00%	0.00%	0.00%	250.00%	-9.05%	-22.92%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	14.81%	-39.04%	-185.71%	37.84%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.04%	-4.36%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.85%	-0.97%	-1.53%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	23.50%	21.50%	24.44%	24.45%	21.65%	19.70%
EBITDA Margin	3.96%	5.80%	4.36%	2.62%	-4.11%	0.63%
Operating Margin	1.79%	4.09%	2.56%	0.99%	-1.23%	-1.38%
EBIT Margin	1.70%	4.07%	2.56%	0.92%	-6.02%	-1.39%
Profit (Net Income) Margin	1.28%	3.20%	1.92%	0.10%	-6.37%	-1.74%
Tax Burden Percent	75.44%	78.53%	77.31%	100.00%	95.39%	86.96%
Interest Burden Percent	100.00%	100.00%	96.75%	11.11%	110.95%	143.75%
Effective Tax Rate	24.56%	21.47%	22.69%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	28.97%	9.58%	4.12%	-2.71%	-2.86%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	34.39%	7.70%	-5.72%	-75.72%	-15.27%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.93%	1.52%	-3.45%	-23.58%	-3.49%
Return on Equity (ROE)	0.00%	28.04%	11.10%	0.68%	-26.29%	-6.34%
Cash Return on Invested Capital (CROIC)	0.00%	-171.03%	19.35%	3.70%	-71.64%	-1.98%
Operating Return on Assets (OROA)	0.00%	9.24%	6.00%	1.87%	-10.46%	-2.39%
Return on Assets (ROA)	0.00%	7.25%	4.49%	0.21%	-11.07%	-2.99%
Return on Common Equity (ROCE)	0.00%	28.04%	11.10%	0.68%	-26.29%	-6.34%
Return on Equity Simple (ROE_SIMPLE)	0.00%	14.02%	15.67%	0.67%	-17.99%	0.00%
Net Operating Profit after Tax (NOPAT)	45	151	95	39	-39	-55
NOPAT Margin	1.35%	3.22%	1.98%	0.99%	-0.86%	-0.96%
Net Nonoperating Expense Percent (NNEP)	0.00%	-5.42%	1.89%	9.85%	73.01%	12.42%
Return On Investment Capital (ROIC_SIMPLE)	-	-	9.13%	4.09%	-1.98%	-2.84%
Cost of Revenue to Revenue	76.50%	78.50%	75.56%	75.55%	78.35%	80.30%
SG&A Expenses to Revenue	13.55%	11.50%	13.34%	15.05%	14.64%	14.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.72%	17.40%	21.87%	23.45%	22.88%	21.07%
Earnings before Interest and Taxes (EBIT)	57	191	123	36	-274	-80
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	133	272	209	103	-187	36
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	3.41	4.58	2.38	1.35
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.42	0.69	0.84	0.36
Price to Earnings (P/E)	0.00	0.00	21.74	680.36	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	4.60%	0.15%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.50	3.24	2.14	1.28
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.49	0.78	0.92	0.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	11.28	29.86	0.00	68.37
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	19.17	85.43	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	24.79	78.86	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	7.60	34.56	0.00	48.26
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	12.27	87.87	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.78	0.60	0.23	0.26
Long-Term Debt to Equity	0.00	0.00	0.77	0.60	0.22	0.25
Financial Leverage	0.00	-0.03	0.20	0.60	0.31	0.23
Leverage Ratio	0.00	1.93	2.47	3.27	2.37	2.12
Compound Leverage Factor	0.00	1.93	2.39	0.36	2.63	3.05
Debt to Total Capital	0.00%	0.00%	43.67%	37.67%	18.59%	20.77%
Short-Term Debt to Total Capital	0.00%	0.00%	0.38%	0.31%	0.86%	0.87%
Long-Term Debt to Total Capital	0.00%	0.00%	43.28%	37.36%	17.73%	19.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	56.33%	62.33%	81.41%	79.23%
Debt to EBITDA	0.00	0.00	2.18	3.49	-1.97	11.22
Net Debt to EBITDA	0.00	0.00	1.71	3.44	-1.78	10.75
Long-Term Debt to EBITDA	0.00	0.00	2.16	3.46	-1.88	10.75
Debt to NOPAT	0.00	0.00	4.78	9.21	-9.39	-7.31
Net Debt to NOPAT	0.00	0.00	3.75	9.08	-8.49	-7.00
Long-Term Debt to NOPAT	0.00	0.00	4.74	9.13	-8.95	-7.00
Altman Z-Score	0.00	0.00	3.52	3.62	2.32	2.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	1.33	1.25	1.17	1.26	1.27
Quick Ratio	0.00	1.27	1.21	1.10	1.19	1.20
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-890	192	35	-1,036	-38
Operating Cash Flow to CapEx	64.10%	407.89%	553.57%	139.06%	-26.67%	89.47%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	2.27	2.34	2.04	1.74	1.72
Accounts Receivable Turnover	0.00	4.64	5.02	4.78	4.62	4.68
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	32.32	35.14	42.69
Accounts Payable Turnover	0.00	7.08	7.10	6.49	7.26	8.33
Days Sales Outstanding (DSO)	0.00	78.62	72.68	76.36	79.02	77.96
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	51.56	51.42	56.28	50.27	43.81
Cash Conversion Cycle (CCC)	0.00	27.06	21.26	20.07	28.75	34.15
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	1,041	944	948	1,945	1,928
Invested Capital Turnover	0.00	9.01	4.83	4.15	3.15	2.97
Increase / (Decrease) in Invested Capital	0.00	1,041	-97	4.00	997	-17
Enterprise Value (EV)	0.00	0.00	2,357	3,075	4,166	2,461
Market Capitalization	0.00	0.00	2,000	2,721	3,833	2,074
Book Value per Share	$0.00	$9.29	$5.05	$5.08	$10.03	$9.39
Tangible Book Value per Share	$0.00	$2.95	($1.05)	($0.89)	($0.06)	($0.14)
Total Capital	0.00	1,070	1,042	953	1,980	1,945
Total Debt	0.00	0.00	455	359	368	404
Total Long-Term Debt	0.00	0.00	451	356	351	387
Net Debt	0.00	-29	357	354	333	387
Capital Expenditures (CapEx)	39	38	56	64	45	57
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	238	112	112	256	279
Debt-free Net Working Capital (DFNWC)	0.00	267	210	117	291	296
Net Working Capital (NWC)	0.00	267	206	114	274	279
Net Nonoperating Expense (NNE)	2.26	0.79	3.09	35	251	45
Net Nonoperating Obligations (NNO)	0.00	-29	357	354	333	387
Total Depreciation and Amortization (D&A)	76	81	86	67	87	116
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	5.08%	2.34%	2.85%	5.63%	4.86%
Debt-free Net Working Capital to Revenue	0.00%	5.69%	4.38%	2.98%	6.40%	5.16%
Net Working Capital to Revenue	0.00%	5.69%	4.30%	2.90%	6.02%	4.86%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.80	$0.03	($2.17)	($0.59)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	115.34M	116.87M	133.41M	168.46M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.79	$0.03	($2.17)	($0.59)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	115.79M	119.46M	133.41M	168.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	116.60M	117.09M	163.33M	164.19M
Normalized Net Operating Profit after Tax (NOPAT)	63	154	170	47	21	-4.90
Normalized NOPAT Margin	1.89%	3.28%	3.55%	1.19%	0.46%	-0.09%
Pre Tax Income Margin	1.70%	4.07%	2.48%	0.10%	-6.68%	-2.00%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	50.00%	-10.34%	-1.00%

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-21.45%	-14.24%	-12.68%	-9.60%	-3.43%	6.56%	70.45%	56.96%	52.58%	36.63%	-11.88%
EBITDA Growth	-59.49%	-46.15%	35.00%	-78.26%	-46.88%	-1,123.81%	-77.78%	-33.33%	64.71%	109.30%	-275.00%
EBIT Growth	-75.86%	-68.75%	1,300.00%	-320.00%	-100.00%	-4,820.00%	-325.00%	-130.77%	0.00%	97.46%	-68.00%
NOPAT Growth	-83.82%	-67.69%	1,100.00%	-340.00%	-100.00%	-433.33%	-340.00%	-150.00%	0.00%	65.00%	-75.00%
Net Income Growth	-93.18%	-107.69%	150.00%	0.00%	-333.33%	-24,200.00%	-1,350.00%	-106.67%	-28.57%	94.24%	-84.00%
EPS Growth	-92.11%	-109.09%	125.00%	0.00%	-300.00%	-18,000.00%	-1,800.00%	-38.46%	16.67%	95.58%	-64.71%
Operating Cash Flow Growth	-67.57%	-92.98%	-75.00%	-83.33%	-120.83%	-275.00%	-136.84%	-128.57%	560.00%	428.57%	200.00%
Free Cash Flow Firm Growth	0.00%	103.37%	0.00%	96.57%	95.84%	-3,323.60%	-33,893.33%	-3,256.69%	-2,571.05%	100.11%	98.78%
Invested Capital Growth	0.00%	-2.89%	0.42%	2.50%	4.13%	108.94%	105.17%	109.66%	105.95%	-0.31%	-0.87%
Revenue Q/Q Growth	-4.65%	1.35%	0.20%	-6.65%	1.86%	11.83%	60.29%	-14.04%	-0.98%	0.14%	3.38%
EBITDA Q/Q Growth	39.13%	-34.38%	28.57%	-80.00%	240.00%	-1,364.71%	102.79%	-66.67%	1,300.00%	-28.57%	-170.00%
EBIT Q/Q Growth	180.00%	-64.29%	140.00%	-210.00%	100.00%	0.00%	88.56%	-11.11%	93.33%	-200.00%	-600.00%
NOPAT Q/Q Growth	100.00%	-40.00%	66.67%	-220.00%	100.00%	0.00%	-20.00%	-25.00%	100.00%	0.00%	-500.00%
Net Income Q/Q Growth	0.00%	-133.33%	300.00%	-850.00%	53.33%	-3,371.43%	89.71%	-24.00%	70.97%	-55.56%	-228.57%
EPS Q/Q Growth	0.00%	-133.33%	200.00%	-1,400.00%	53.85%	-2,916.67%	90.61%	-5.88%	72.22%	-60.00%	-250.00%
Operating Cash Flow Q/Q Growth	-42.86%	-83.33%	375.00%	-63.16%	-171.43%	-40.00%	0.00%	71.43%	1,250.00%	0.00%	-69.57%
Free Cash Flow Firm Q/Q Growth	0.27%	103.53%	-90.68%	-1,146.67%	-21.02%	-2,631.58%	2.33%	-3.97%	3.70%	100.11%	-1,227.27%
Invested Capital Q/Q Growth	0.11%	2.17%	0.85%	-0.63%	1.70%	105.01%	-0.97%	1.54%	-0.10%	-0.76%	-1.53%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.92%	23.98%	24.03%	23.44%	24.73%	22.21%	18.60%	19.54%	21.21%	19.99%	18.11%
EBITDA Margin	3.32%	2.15%	2.76%	0.55%	1.83%	-20.67%	0.36%	0.14%	1.97%	1.41%	-0.95%
Operating Margin	1.45%	0.61%	1.43%	-1.31%	0.00%	-1.92%	-1.44%	-2.09%	0.00%	-0.49%	-2.86%
EBIT Margin	1.45%	0.51%	1.23%	-1.20%	0.00%	-22.69%	-1.62%	-2.09%	-0.14%	-0.42%	-2.86%
Profit (Net Income) Margin	0.31%	-0.10%	0.20%	-1.64%	-0.75%	-23.37%	-1.50%	-2.16%	-0.63%	-0.99%	-3.13%
Tax Burden Percent	50.00%	33.33%	50.00%	71.43%	87.50%	100.41%	75.76%	79.49%	90.00%	93.33%	90.20%
Interest Burden Percent	42.86%	-60.00%	33.33%	190.91%	0.00%	102.54%	122.22%	130.00%	500.00%	250.00%	121.43%
Effective Tax Rate	50.00%	0.00%	50.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.69%	1.84%	2.97%	-3.79%	0.00%	-3.58%	-3.17%	-5.09%	0.00%	-1.04%	-5.93%
ROIC Less NNEP Spread (ROIC-NNEP)	4.27%	-4.14%	1.56%	-4.82%	-1.97%	-72.76%	-5.56%	-7.77%	-2.36%	-3.68%	-10.55%
Return on Net Nonoperating Assets (RNNOA)	2.40%	-0.42%	0.94%	-10.69%	-1.20%	-21.49%	-1.73%	-2.68%	-0.83%	-0.79%	-2.41%
Return on Equity (ROE)	9.08%	1.42%	3.91%	-14.48%	-1.20%	-25.06%	-4.90%	-7.77%	-0.83%	-1.83%	-8.34%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	3.70%	-0.82%	-3.45%	-71.39%	-71.64%	-74.38%	-72.79%	-1.87%	-1.98%
Operating Return on Assets (OROA)	3.22%	1.00%	2.50%	-2.42%	0.00%	-32.83%	-2.81%	-4.16%	-0.31%	-0.76%	-4.91%
Return on Assets (ROA)	0.69%	-0.20%	0.42%	-3.30%	-1.53%	-33.80%	-2.60%	-4.30%	-1.41%	-1.78%	-5.37%
Return on Common Equity (ROCE)	9.08%	1.42%	3.91%	-14.48%	-1.20%	-25.06%	-4.90%	-7.77%	-0.83%	-1.83%	-8.34%
Return on Equity Simple (ROE_SIMPLE)	2.04%	-0.34%	0.00%	-1.89%	-3.63%	-15.92%	0.00%	-19.28%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.00	4.20	7.00	-8.40	0.00	-14	-17	-21	0.00	-4.90	-29
NOPAT Margin	0.73%	0.43%	0.72%	-0.92%	0.00%	-1.35%	-1.01%	-1.47%	0.00%	-0.34%	-2.00%
Net Nonoperating Expense Percent (NNEP)	2.42%	5.98%	1.41%	1.03%	1.97%	69.18%	2.39%	2.67%	2.36%	2.64%	4.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	0.73%	-	-	-	-0.85%	-1.05%	0.00%	-0.25%	-1.51%
Cost of Revenue to Revenue	75.08%	76.02%	75.97%	76.56%	75.27%	77.79%	81.40%	80.46%	78.79%	80.01%	81.89%
SG&A Expenses to Revenue	14.95%	15.16%	14.93%	15.88%	16.56%	14.33%	13.08%	14.65%	15.08%	14.64%	13.61%
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	23.47%	23.36%	22.60%	24.75%	24.73%	24.13%	20.04%	21.63%	21.21%	20.48%	20.97%
Earnings before Interest and Taxes (EBIT)	14	5.00	12	-11	0.00	-236	-27	-30	-2.00	-6.00	-42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	32	21	27	5.00	17	-215	6.00	2.00	28	20	-14
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.50	3.91	4.58	4.40	5.31	1.99	2.38	1.97	1.62	1.60	1.35
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	54.89	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.63	0.57	0.69	0.67	0.81	0.85	0.84	0.62	0.46	0.42	0.36
Price to Earnings (P/E)	203.90	0.00	680.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.49%	0.00%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.24	2.83	3.24	3.10	3.60	1.84	2.14	1.78	1.50	1.48	1.28
Enterprise Value to Revenue (EV/Rev)	0.70	0.65	0.78	0.76	0.91	0.93	0.92	0.69	0.53	0.49	0.43
Enterprise Value to EBITDA (EV/EBITDA)	26.39	27.40	29.86	34.34	49.33	0.00	0.00	0.00	0.00	50.00	68.37
Enterprise Value to EBIT (EV/EBIT)	90.35	110.75	85.43	145.94	575.48	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	90.35	158.22	78.86	189.53	616.59	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	14.98	18.21	34.56	54.05	138.12	257.54	0.00	0.00	423.11	78.38	48.26
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	87.87	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.77	0.60	0.63	0.67	0.22	0.23	0.25	0.25	0.26	0.26
Long-Term Debt to Equity	0.77	0.76	0.60	0.60	0.64	0.21	0.22	0.24	0.24	0.24	0.25
Financial Leverage	0.56	0.10	0.60	2.22	0.61	0.30	0.31	0.34	0.35	0.21	0.23
Leverage Ratio	3.25	2.41	3.27	6.60	3.19	2.38	2.37	2.35	2.31	2.04	2.12
Compound Leverage Factor	1.39	-1.45	1.09	12.61	0.00	2.44	2.90	3.06	11.57	5.10	2.58
Debt to Total Capital	43.58%	43.49%	37.67%	38.67%	40.00%	18.18%	18.59%	20.29%	20.24%	20.32%	20.77%
Short-Term Debt to Total Capital	0.38%	0.29%	0.31%	1.69%	1.66%	0.74%	0.86%	0.85%	0.80%	0.81%	0.87%
Long-Term Debt to Total Capital	43.20%	43.20%	37.36%	36.99%	38.34%	17.43%	17.73%	19.44%	19.44%	19.52%	19.90%
Preferred Equity 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%
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	56.42%	56.51%	62.33%	61.33%	60.00%	81.82%	81.41%	79.71%	79.76%	79.68%	79.23%
Debt to EBITDA	4.03	4.68	3.49	4.32	5.51	-2.21	-1.97	-2.15	-2.28	6.95	11.22
Net Debt to EBITDA	2.93	3.61	3.44	4.24	5.41	-1.88	-1.78	-2.06	-2.18	6.52	10.75
Long-Term Debt to EBITDA	3.99	4.65	3.46	4.13	5.29	-2.12	-1.88	-2.06	-2.19	6.67	10.75
Debt to NOPAT	13.79	27.02	9.21	23.83	68.93	-29.13	-9.39	-7.80	-7.78	-9.44	-7.31
Net Debt to NOPAT	10.03	20.83	9.08	23.38	67.68	-24.76	-8.49	-7.49	-7.43	-8.85	-7.00
Long-Term Debt to NOPAT	13.67	26.85	9.13	22.79	66.07	-27.94	-8.95	-7.47	-7.47	-9.06	-7.00
Altman Z-Score	3.58	3.25	3.58	3.43	3.65	2.05	2.56	2.57	2.67	2.75	2.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.29	1.17	1.14	1.17	1.33	1.26	1.30	1.35	1.32	1.27
Quick Ratio	1.24	1.22	1.10	1.07	1.11	1.26	1.19	1.21	1.23	1.24	1.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-913	32	3.00	-31	-38	-1,038	-1,014	-1,054	-1,015	1.10	-12
Operating Cash Flow to CapEx	150.00%	22.22%	105.56%	63.64%	-45.45%	-63.64%	-58.33%	-13.33%	164.29%	164.29%	46.67%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.21	1.95	2.04	2.01	2.04	1.45	1.74	1.99	2.22	1.80	1.72
Accounts Receivable Turnover	5.69	4.52	4.78	4.85	5.17	4.01	4.62	5.43	6.21	5.30	4.68
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	36.47	0.00	32.32	0.00	32.45	26.00	35.14	38.41	43.60	38.08	42.69
Accounts Payable Turnover	7.36	6.16	6.49	6.70	7.09	5.79	7.26	9.24	10.53	9.05	8.33
Days Sales Outstanding (DSO)	64.10	80.69	76.36	75.19	70.56	90.99	79.02	67.17	58.77	68.88	77.96
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)	49.57	59.23	56.28	54.49	51.51	63.08	50.27	39.51	34.67	40.33	43.81
Cash Conversion Cycle (CCC)	14.53	21.46	20.07	20.70	19.05	27.91	28.75	27.66	24.09	28.55	34.15
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	920	940	948	942	958	1,964	1,945	1,975	1,973	1,958	1,928
Invested Capital Turnover	9.20	4.27	4.15	4.12	4.04	2.66	3.15	3.48	3.79	3.03	2.97
Increase / (Decrease) in Invested Capital	920	-28	4.00	23	38	1,024	997	1,033	1,015	-6.00	-17
Enterprise Value (EV)	2,982	2,658	3,075	2,919	3,453	3,606	4,166	3,508	2,962	2,900	2,461
Market Capitalization	2,651	2,308	2,721	2,559	3,074	3,294	3,833	3,120	2,577	2,522	2,074
Book Value per Share	$5.04	$5.04	$5.08	$4.97	$4.93	$14.04	$10.03	$9.72	$9.69	$9.63	$9.39
Tangible Book Value per Share	($0.98)	($0.96)	($0.89)	($0.96)	($0.96)	$0.51	($0.06)	($0.13)	($0.07)	($0.04)	($0.14)
Total Capital	1,044	1,044	953	949	965	2,019	1,980	1,991	1,991	1,983	1,945
Total Debt	455	454	359	367	386	367	368	404	403	403	404
Total Long-Term Debt	451	451	356	351	370	352	351	387	387	387	387
Net Debt	331	350	354	360	379	312	333	388	385	378	387
Capital Expenditures (CapEx)	16	18	18	11	11	11	12	15	14	14	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	97	107	112	105	123	268	256	292	302	285	279
Debt-free Net Working Capital (DFNWC)	221	211	117	112	130	323	291	308	320	310	296
Net Working Capital (NWC)	217	208	114	96	114	308	274	291	304	294	279
Net Nonoperating Expense (NNE)	4.00	5.20	5.00	6.60	7.00	229	8.20	10	9.00	9.10	17
Net Nonoperating Obligations (NNO)	331	350	354	360	379	312	333	388	385	378	387
Total Depreciation and Amortization (D&A)	18	16	15	16	17	21	33	32	30	26	28
Debt-free, Cash-free Net Working Capital to Revenue	2.29%	2.63%	2.85%	2.74%	3.24%	6.94%	5.63%	5.76%	5.43%	4.80%	4.86%
Debt-free Net Working Capital to Revenue	5.22%	5.19%	2.98%	2.92%	3.42%	8.37%	6.40%	6.08%	5.76%	5.22%	5.16%
Net Working Capital to Revenue	5.13%	5.11%	2.90%	2.51%	3.00%	7.98%	6.02%	5.74%	5.47%	4.95%	4.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.03	($0.01)	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)
Adjusted Weighted Average Basic Shares Outstanding	116.89M	116.97M	116.87M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M
Adjusted Diluted Earnings per Share	$0.03	($0.01)	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)
Adjusted Weighted Average Diluted Shares Outstanding	119.46M	116.97M	119.46M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M
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	116.98M	117.00M	117.09M	117.55M	117.63M	160.79M	163.33M	163.92M	163.99M	164.11M	164.19M
Normalized Net Operating Profit after Tax (NOPAT)	9.50	7.70	9.00	0.00	6.30	8.40	6.30	-7.00	7.00	1.40	-15
Normalized NOPAT Margin	0.99%	0.79%	0.92%	0.00%	0.68%	0.81%	0.38%	-0.49%	0.49%	0.10%	-1.00%
Pre Tax Income Margin	0.62%	-0.31%	0.41%	-2.30%	-0.86%	-23.27%	-1.98%	-2.72%	-0.70%	-1.06%	-3.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	16.67%	-100.00%	50.00%	0.00%	0.00%	0.00%	-10.34%	0.00%	0.00%	0.00%	-1.00%

Financials Breakdown Chart

Key Financial Trends

RXO, Inc. (NYSE: RXO) shows mixed results over the last four years across revenue, profitability, and cash flow, with some signs of improving operating cash flow in late 2025 but ongoing profitability challenges. Below are the 10 most material takeaways for retail investors, based on quarterly statements from 2022 through 2025.

Operating cash flow from continuing operations turned positive in the latest quarters, with Net Cash From Continuing Operating Activities of about 23 million in Q3 2025 and about 7 million in Q4 2025, signaling improving cash generation from core operations.
Revenue remained robust in 2025, delivering roughly 1.42–1.47 billion in quarterly Operating Revenue (Q1 2025: ~1.433B; Q2 2025: ~1.419B; Q3 2025: ~1.421B; Q4 2025: ~1.469B), maintaining a level well above the 2023 baseline.
Gross margins trend around the high-teens to around 20% range, with Total Gross Profit of about 266–284 million on 1.42–1.47 billion in revenue in 2025 quarters (example: Q4 2025 gross margin ~18%), indicating relatively stable gross profitability despite top-line fluctuations.
Liquidity remains adequate, with a solid near-term balance sheet profile as of late 2025 (eg, Q3 2025: Total Current Assets ~1.201B vs. Total Current Liabilities ~0.907B), implying a current ratio near 1.3x.
RXO has ongoing access to capital markets in 2025, evidenced by debt issuance (Q3 2025: +210M; Q4 2025: +95M) and offsetting repayments (Q3 2025: -211M; Q4 2025: -96M), indicating refinancing flexibility to manage near-term obligations.
Balance sheet growth includes higher Goodwill (~1.123B in Q3 2025) and substantial Intangible Assets (~463M in Q3 2025), suggesting acquisitions or intangibles growth that may be neutral for short-term cash flow but could affect future amortization and margins.
Capital expenditures remain moderate, with quarterly PPE purchases in the low-to-mid teens of millions (roughly 12–18M per quarter across 2025), which dampens cash flow but aligns with network/assets upkeep and expansion needs.
Net income remains negative in 2025, including about -46M in Q4 2025 (and losses in other 2025 quarters: -14M in Q3, -9M in Q2, -31M in Q1), highlighting ongoing profitability challenges.
Earnings per share remain negative for 2025 (example: Q4 2025 Basic EPS and Diluted EPS both around -0.28), indicating continued earnings erosion for shareholders.
Revenue declined in 2025 versus the 2024 peak (2024 Q4 revenue ~1.667B vs 2025 Q4 ~1.469B), suggesting a softening top-line trend that could pressure margins and longer-term cash generation.

05/05/26 08:25 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About RXO's Financials

When does RXO's financial year end?

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

How has RXO's net income changed over the last 5 years?

RXO's net income appears to be on an upward trend, with a most recent value of -$100 million in 2025, falling from $43 million in 2020. The previous period was -$290 million in 2024. Find out what analysts predict for RXO in the coming months.

What is RXO's operating income?

RXO's total operating income in 2025 was -$79 million, based on the following breakdown:

Total Gross Profit: $1.13 billion
Total Operating Expenses: $1.21 billion

How has RXO's revenue changed over the last 5 years?

Over the last 5 years, RXO's total revenue changed from $3.36 billion in 2020 to $5.74 billion in 2025, a change of 71.0%.

How much debt does RXO have?

RXO's total liabilities were at $1.74 billion at the end of 2025, a 3.7% decrease from 2024, and a 73.9% increase since 2021.

How much cash does RXO have?

In the past 4 years, RXO's cash and equivalents has ranged from $5 million in 2023 to $98 million in 2022, and is currently $17 million as of their latest financial filing in 2025.

How has RXO's book value per share changed over the last 5 years?

Over the last 5 years, RXO's book value per share changed from 0.00 in 2020 to 9.39 in 2025, a change of 939.0%.

Related Companies

Financial statements for NYSE:RXO last updated on 2/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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RXO (RXO) Financials

Financials Breakdown Chart

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RXO (RXO) Financials

Annual Income Statements for RXO

Quarterly Income Statements for RXO

Annual Cash Flow Statements for RXO

Quarterly Cash Flow Statements for RXO

Annual Balance Sheets for RXO

Quarterly Balance Sheets for RXO

Annual Metrics And Ratios for RXO

Quarterly Metrics And Ratios for RXO

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About RXO's Financials

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