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

RXO (RXO) Financials

$20.66 0.00 (0.00%)

Closing price 09/4/2026 03:58 PM Eastern

Extended Trading

$20.67 +0.01 (+0.05%)

As of 05:17 AM Eastern

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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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	2.00	-15	-7.00	-243	-27	-31	-9.00	-14	-46	-36	-9.00
Consolidated Net Income / (Loss)	2.00	-15	-7.00	-243	-25	-31	-9.00	-14	-46	-36	-9.00
Net Income / (Loss) Continuing Operations	2.00	-15	-7.00	-243	-27	-31	-9.00	-14	-46	-36	-9.00
Total Pre-Tax Income	4.00	-21	-8.00	-242	-33	-39	-10	-15	-51	-49	-8.00
Total Operating Income	14	-12	0.00	-20	-24	-30	0.00	-7.00	-42	-28	1.00
Total Gross Profit	235	214	230	231	310	280	301	284	266	254	302
Total Revenue	978	913	930	1,040	1,667	1,433	1,419	1,421	1,469	1,425	1,774
Operating Revenue	978	913	930	1,040	1,667	1,433	1,419	1,421	1,469	1,425	1,774
Total Cost of Revenue	743	699	700	809	1,357	1,153	1,118	1,137	1,203	1,171	1,472
Operating Cost of Revenue	743	699	700	809	1,357	1,153	1,118	1,137	1,203	1,171	1,472
Total Operating Expenses	221	226	230	251	334	310	301	291	308	282	301
Selling, General & Admin Expense	146	145	154	149	218	210	214	208	200	197	211
Depreciation Expense	15	16	17	21	33	32	30	26	28	26	26
Other Operating Expenses / (Income)	56	53	50	49	50	48	47	48	47	50	53
Restructuring Charge	4.00	12	9.00	32	33	20	10	9.00	21	9.00	11
Total Other Income / (Expense), net	-10	-9.00	-8.00	-222	-11	-9.00	-10	-8.00	-9.00	-21	-9.00
Interest Expense	-	-	-	-	-	0.00	0.00	-	-	11	0.00
Interest & Investment Income	-8.00	-8.00	-8.00	-6.00	-8.00	-9.00	-8.00	-9.00	-9.00	-9.00	-9.00
Other Income / (Expense), net	-2.00	-1.00	0.00	-216	-3.00	0.00	-2.00	1.00	-	-1.00	0.00
Income Tax Expense	2.00	-6.00	-1.00	1.00	-8.00	-8.00	-1.00	-1.00	-5.00	-13	1.00
Basic Earnings per Share	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)	($0.21)	($0.05)
Weighted Average Basic Shares Outstanding	116.87M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M	169.10M	169.65M
Diluted Earnings per Share	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)	($0.21)	($0.05)
Weighted Average Diluted Shares Outstanding	119.46M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M	169.10M	169.65M
Weighted Average Basic & Diluted Shares Outstanding	117.09M	117.55M	117.63M	160.79M	163.33M	163.92M	163.99M	164.11M	164.19M	164.92M	164.93M

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	-99	2.00	-	48	-20	-19	3.00	7.00	-8.00	4.00	-6.00
Net Cash From Operating Activities	19	7.00	-5.00	-7.00	-7.00	-2.00	23	23	7.00	-7.00	-40
Net Cash From Continuing Operating Activities	19	7.00	-5.00	-7.00	-7.00	-2.00	23	23	7.00	-7.00	-40
Net Income / (Loss) Continuing Operations	2.00	-15	-7.00	-243	-25	-31	-9.00	-14	-46	-36	-9.00
Consolidated Net Income / (Loss)	2.00	-15	-7.00	-243	-25	-31	-9.00	-14	-46	-36	-9.00
Depreciation Expense	15	16	17	21	33	32	30	26	28	26	26
Non-Cash Adjustments To Reconcile Net Income	8.00	7.00	6.00	223	23	13	11	8.00	24	24	8.00
Changes in Operating Assets and Liabilities, net	-6.00	-1.00	-21	-8.00	-38	-16	-9.00	3.00	1.00	-21	-65
Net Cash From Investing Activities	-19	-11	-11	-1,030	-12	-25	-18	-13	-15	-17	-12
Net Cash From Continuing Investing Activities	-19	-11	-11	-1,030	-12	-25	-18	-13	-15	-17	-12
Purchase of Property, Plant & Equipment	-18	-11	-11	-11	-12	-15	-14	-14	-16	-17	-12
Net Cash From Financing Activities	-100	6.00	16	1,085	1.00	7.00	-3.00	-3.00	-	28	46
Net Cash From Continuing Financing Activities	-100	6.00	16	1,085	1.00	7.00	-3.00	-3.00	-	28	46
Repayment of Debt	-174	-31	-63	-93	-34	-276	38	-211	-96	-695	-284
Issuance of Debt	76	39	80	84	35	300	-39	210	95	725	331
Other Financing Activities, net	-2.00	-2.00	-1.00	-1.00	-	-17	-1.00	-2.00	1.00	-2.00	-1.00
Cash Interest Paid	14	1.00	14	-2.00	14	2.00	14	1.00	15	8.00	3.00
Cash Income Taxes Paid	2.00	1.00	1.00	1.00	1.00	1.00	3.00	2.00	1.00	1.00	4.00

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Total Assets	2,018	1,912	1,946	1,799	1,813	3,392	3,304	3,201	3,201	3,268	3,459
Total Current Assets	1,029	916	936	770	776	1,255	1,255	1,184	1,201	1,335	1,556
Cash & Equivalents	121	124	104	7.00	7.00	55	16	18	25	21	15
Accounts Receivable	862	743	787	716	725	1,138	1,150	1,065	1,104	1,216	1,444
Other Current Assets	46	49	45	47	44	62	89	101	72	98	97
Plant, Property, & Equipment, net	0.00	116	122	121	118	175	143	137	137	131	126
Total Noncurrent Assets	989	880	888	908	919	1,962	1,906	1,880	1,863	1,802	1,777
Goodwill	630	630	630	630	630	1,027	1,124	1,125	1,123	1,111	1,111
Intangible Assets	76	73	72	65	62	565	484	474	463	442	432
Other Noncurrent Operating Assets	283	177	186	213	227	370	298	281	277	249	234
Total Liabilities & Shareholders' Equity	2,018	1,912	1,946	1,799	1,813	3,392	3,304	3,201	3,201	3,268	3,459
Total Liabilities	1,433	1,323	1,356	1,217	1,234	1,740	1,717	1,613	1,621	1,759	1,953
Total Current Liabilities	820	699	728	674	662	947	964	880	907	1,048	1,227
Short-Term Debt	4.00	4.00	3.00	16	16	15	17	16	16	17	36
Accounts Payable	496	432	448	372	382	572	498	461	481	584	713
Accrued Expenses	265	210	221	220	197	262	358	315	321	367	404
Other Current Liabilities	55	53	56	66	67	98	91	88	89	80	74
Total Noncurrent Liabilities	613	624	628	543	572	793	753	733	714	711	726
Long-Term Debt	451	451	451	351	370	352	387	387	387	430	459
Noncurrent Deferred & Payable Income Tax Liabilities	16	17	15	1.00	0.00	115	77	75	54	36	35
Other Noncurrent Operating Liabilities	146	156	162	191	202	326	289	271	273	245	232
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-4.00	589	590	582	579	1,652	1,587	1,588	1,580	1,509	1,506
Total Preferred & Common Equity	585	589	590	582	579	1,652	1,587	1,588	1,580	1,509	1,506
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-4.00	589	590	582	579	1,652	1,587	1,588	1,580	1,509	1,506
Common Stock	-	588	590	594	600	1,916	1,910	1,917	1,924	1,936	1,942
Retained Earnings	-	5.00	4.00	-9.00	-16	-259	-315	-324	-338	-420	-429
Accumulated Other Comprehensive Income / (Loss)	-4.00	-4.00	-4.00	-3.00	-5.00	-5.00	-8.00	-5.00	-6.00	-7.00	-7.00

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	164,193,961.00	164,920,312.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	164,193,961.00	164,920,312.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.22	-0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-12.68%	-9.60%	-3.43%	6.56%	70.45%	56.96%	52.58%	36.63%	-11.88%	-0.56%	25.02%
EBITDA Growth	35.00%	-78.26%	-46.88%	-1,123.81%	-77.78%	-33.33%	64.71%	109.30%	-275.00%	-250.00%	-3.57%
EBIT Growth	1,300.00%	-320.00%	-100.00%	-4,820.00%	-325.00%	-130.77%	0.00%	97.46%	-68.00%	3.33%	150.00%
NOPAT Growth	1,100.00%	-340.00%	-100.00%	-433.33%	-340.00%	-150.00%	0.00%	65.00%	-75.00%	6.67%	0.00%
Net Income Growth	150.00%	0.00%	-333.33%	-24,200.00%	-1,350.00%	-106.67%	-28.57%	94.24%	-84.00%	-16.13%	0.00%
EPS Growth	125.00%	0.00%	-300.00%	-18,000.00%	-1,800.00%	-38.46%	16.67%	95.58%	-64.71%	-16.67%	0.00%
Operating Cash Flow Growth	-75.00%	-83.33%	-120.83%	-275.00%	-136.84%	-128.57%	560.00%	428.57%	200.00%	-250.00%	-273.91%
Free Cash Flow Firm Growth	0.00%	96.57%	95.84%	-3,323.60%	-33,893.33%	-3,256.69%	-2,571.05%	100.11%	98.78%	101.94%	98.79%
Invested Capital Growth	0.42%	2.50%	4.13%	108.94%	105.17%	109.66%	105.95%	-0.31%	-0.87%	-2.03%	0.66%
Revenue Q/Q Growth	0.20%	-6.65%	1.86%	11.83%	60.29%	-14.04%	-0.98%	0.14%	3.38%	-3.00%	24.49%
EBITDA Q/Q Growth	28.57%	-80.00%	240.00%	-1,364.71%	102.79%	-66.67%	1,300.00%	-28.57%	-170.00%	78.57%	1,000.00%
EBIT Q/Q Growth	140.00%	-210.00%	100.00%	0.00%	88.56%	-11.11%	93.33%	-200.00%	-600.00%	30.95%	103.45%
NOPAT Q/Q Growth	66.67%	-220.00%	100.00%	0.00%	-20.00%	-25.00%	100.00%	0.00%	-500.00%	33.33%	103.57%
Net Income Q/Q Growth	300.00%	-850.00%	53.33%	-3,371.43%	89.71%	-24.00%	70.97%	-55.56%	-228.57%	21.74%	75.00%
EPS Q/Q Growth	200.00%	-1,400.00%	53.85%	-2,916.67%	90.61%	-5.88%	72.22%	-60.00%	-250.00%	25.00%	76.19%
Operating Cash Flow Q/Q Growth	375.00%	-63.16%	-171.43%	-40.00%	0.00%	71.43%	1,250.00%	0.00%	-69.57%	-200.00%	-471.43%
Free Cash Flow Firm Q/Q Growth	-90.68%	-1,146.67%	-21.02%	-2,631.58%	2.33%	-3.97%	3.70%	100.11%	-1,227.27%	264.52%	-160.29%
Invested Capital Q/Q Growth	0.85%	-0.63%	1.70%	105.01%	-0.97%	1.54%	-0.10%	-0.76%	-1.53%	0.36%	2.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.03%	23.44%	24.73%	22.21%	18.60%	19.54%	21.21%	19.99%	18.11%	17.82%	17.02%
EBITDA Margin	2.76%	0.55%	1.83%	-20.67%	0.36%	0.14%	1.97%	1.41%	-0.95%	-0.21%	1.52%
Operating Margin	1.43%	-1.31%	0.00%	-1.92%	-1.44%	-2.09%	0.00%	-0.49%	-2.86%	-1.96%	0.06%
EBIT Margin	1.23%	-1.20%	0.00%	-22.69%	-1.62%	-2.09%	-0.14%	-0.42%	-2.86%	-2.04%	0.06%
Profit (Net Income) Margin	0.20%	-1.64%	-0.75%	-23.37%	-1.50%	-2.16%	-0.63%	-0.99%	-3.13%	-2.53%	-0.51%
Tax Burden Percent	50.00%	71.43%	87.50%	100.41%	75.76%	79.49%	90.00%	93.33%	90.20%	73.47%	112.50%
Interest Burden Percent	33.33%	190.91%	0.00%	102.54%	122.22%	130.00%	500.00%	250.00%	121.43%	168.97%	-800.00%
Effective Tax Rate	50.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.97%	-3.79%	0.00%	-3.58%	-3.17%	-5.09%	0.00%	-1.04%	-5.93%	-4.03%	0.12%
ROIC Less NNEP Spread (ROIC-NNEP)	1.56%	-4.82%	-1.97%	-72.76%	-5.56%	-7.77%	-2.36%	-3.68%	-10.55%	-8.06%	-2.12%
Return on Net Nonoperating Assets (RNNOA)	0.94%	-10.69%	-1.20%	-21.49%	-1.73%	-2.68%	-0.83%	-0.79%	-2.41%	-2.12%	-0.59%
Return on Equity (ROE)	3.91%	-14.48%	-1.20%	-25.06%	-4.90%	-7.77%	-0.83%	-1.83%	-8.34%	-6.15%	-0.47%
Cash Return on Invested Capital (CROIC)	3.70%	-0.82%	-3.45%	-71.39%	-71.64%	-74.38%	-72.79%	-1.87%	-1.98%	-0.71%	-3.34%
Operating Return on Assets (OROA)	2.50%	-2.42%	0.00%	-32.83%	-2.81%	-4.16%	-0.31%	-0.76%	-4.91%	-3.55%	0.10%
Return on Assets (ROA)	0.42%	-3.30%	-1.53%	-33.80%	-2.60%	-4.30%	-1.41%	-1.78%	-5.37%	-4.41%	-0.93%
Return on Common Equity (ROCE)	3.91%	-14.48%	-1.20%	-25.06%	-4.90%	-7.77%	-0.83%	-1.83%	-8.34%	-6.15%	-0.47%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-1.89%	-3.63%	-15.92%	0.00%	-19.28%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.00	-8.40	0.00	-14	-17	-21	0.00	-4.90	-29	-20	0.70
NOPAT Margin	0.72%	-0.92%	0.00%	-1.35%	-1.01%	-1.47%	0.00%	-0.34%	-2.00%	-1.38%	0.04%
Net Nonoperating Expense Percent (NNEP)	1.41%	1.03%	1.97%	69.18%	2.39%	2.67%	2.36%	2.64%	4.61%	4.03%	2.24%
Return On Investment Capital (ROIC_SIMPLE)	0.73%	-	-	-	-0.85%	-1.05%	0.00%	-0.25%	-1.51%	-1.00%	0.04%
Cost of Revenue to Revenue	75.97%	76.56%	75.27%	77.79%	81.40%	80.46%	78.79%	80.01%	81.89%	82.18%	82.98%
SG&A Expenses to Revenue	14.93%	15.88%	16.56%	14.33%	13.08%	14.65%	15.08%	14.64%	13.61%	13.82%	11.89%
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	22.60%	24.75%	24.73%	24.13%	20.04%	21.63%	21.21%	20.48%	20.97%	19.79%	16.97%
Earnings before Interest and Taxes (EBIT)	12	-11	0.00	-236	-27	-30	-2.00	-6.00	-42	-29	1.00
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	27	5.00	17	-215	6.00	2.00	28	20	-14	-3.00	27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.58	4.40	5.31	1.99	2.38	1.97	1.62	1.60	1.35	1.59	3.02
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	54.89	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.69	0.67	0.81	0.85	0.84	0.62	0.46	0.42	0.36	0.42	0.75
Price to Earnings (P/E)	680.36	0.00	0.00	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	0.15%	0.00%	0.00%	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	3.10	3.60	1.84	2.14	1.78	1.50	1.48	1.28	1.46	2.53
Enterprise Value to Revenue (EV/Rev)	0.78	0.76	0.91	0.93	0.92	0.69	0.53	0.49	0.43	0.49	0.83
Enterprise Value to EBITDA (EV/EBITDA)	29.86	34.34	49.33	0.00	0.00	0.00	0.00	50.00	68.37	91.18	167.67
Enterprise Value to EBIT (EV/EBIT)	85.43	145.94	575.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	78.86	189.53	616.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	34.56	54.05	138.12	257.54	0.00	0.00	423.11	78.38	48.26	61.45	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	87.87	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.60	0.63	0.67	0.22	0.23	0.25	0.25	0.26	0.26	0.30	0.33
Long-Term Debt to Equity	0.60	0.60	0.64	0.21	0.22	0.24	0.24	0.24	0.25	0.29	0.30
Financial Leverage	0.60	2.22	0.61	0.30	0.31	0.34	0.35	0.21	0.23	0.26	0.28
Leverage Ratio	3.27	6.60	3.19	2.38	2.37	2.35	2.31	2.04	2.12	2.12	2.15
Compound Leverage Factor	1.09	12.61	0.00	2.44	2.90	3.06	11.57	5.10	2.58	3.59	-17.22
Debt to Total Capital	37.67%	38.67%	40.00%	18.18%	18.59%	20.29%	20.24%	20.32%	20.77%	22.85%	24.74%
Short-Term Debt to Total Capital	0.31%	1.69%	1.66%	0.74%	0.86%	0.85%	0.80%	0.81%	0.87%	0.87%	1.80%
Long-Term Debt to Total Capital	37.36%	36.99%	38.34%	17.43%	17.73%	19.44%	19.44%	19.52%	19.90%	21.98%	22.94%
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	62.33%	61.33%	60.00%	81.82%	81.41%	79.71%	79.76%	79.68%	79.23%	77.15%	75.26%
Debt to EBITDA	3.49	4.32	5.51	-2.21	-1.97	-2.15	-2.28	6.95	11.22	14.42	16.50
Net Debt to EBITDA	3.44	4.24	5.41	-1.88	-1.78	-2.06	-2.18	6.52	10.75	13.74	16.00
Long-Term Debt to EBITDA	3.46	4.13	5.29	-2.12	-1.88	-2.06	-2.19	6.67	10.75	13.87	15.30
Debt to NOPAT	9.21	23.83	68.93	-29.13	-9.39	-7.80	-7.78	-9.44	-7.31	-8.29	-9.30
Net Debt to NOPAT	9.08	23.38	67.68	-24.76	-8.49	-7.49	-7.43	-8.85	-7.00	-7.90	-9.02
Long-Term Debt to NOPAT	9.13	22.79	66.07	-27.94	-8.95	-7.47	-7.47	-9.06	-7.00	-7.98	-8.63
Altman Z-Score	3.58	3.43	3.65	2.05	2.56	2.57	2.67	2.75	2.37	2.47	3.10
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	1.17	1.14	1.17	1.33	1.26	1.30	1.35	1.32	1.27	1.27	1.27
Quick Ratio	1.10	1.07	1.11	1.26	1.19	1.21	1.23	1.24	1.20	1.18	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3.00	-31	-38	-1,038	-1,014	-1,054	-1,015	1.10	-12	20	-12
Operating Cash Flow to CapEx	105.56%	63.64%	-45.45%	-63.64%	-58.33%	-13.33%	164.29%	164.29%	46.67%	-41.18%	-333.33%
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	1.85	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	-0.64	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	-2.18	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.04	2.01	2.04	1.45	1.74	1.99	2.22	1.80	1.72	1.75	1.83
Accounts Receivable Turnover	4.78	4.85	5.17	4.01	4.62	5.43	6.21	5.30	4.68	4.85	4.85
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	32.32	0.00	32.45	26.00	35.14	38.41	43.60	38.08	42.69	41.85	46.30
Accounts Payable Turnover	6.49	6.70	7.09	5.79	7.26	9.24	10.53	9.05	8.33	8.56	8.49
Days Sales Outstanding (DSO)	76.36	75.19	70.56	90.99	79.02	67.17	58.77	68.88	77.96	75.30	75.20
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)	56.28	54.49	51.51	63.08	50.27	39.51	34.67	40.33	43.81	42.66	43.00
Cash Conversion Cycle (CCC)	20.07	20.70	19.05	27.91	28.75	27.66	24.09	28.55	34.15	32.65	32.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	948	942	958	1,964	1,945	1,975	1,973	1,958	1,928	1,935	1,986
Invested Capital Turnover	4.15	4.12	4.04	2.66	3.15	3.48	3.79	3.03	2.97	2.93	3.08
Increase / (Decrease) in Invested Capital	4.00	23	38	1,024	997	1,033	1,015	-6.00	-17	-40	13
Enterprise Value (EV)	3,075	2,919	3,453	3,606	4,166	3,508	2,962	2,900	2,461	2,827	5,030
Market Capitalization	2,721	2,559	3,074	3,294	3,833	3,120	2,577	2,522	2,074	2,401	4,550
Book Value per Share	$5.08	$4.97	$4.93	$14.04	$10.03	$9.72	$9.69	$9.63	$9.39	$9.19	$9.13
Tangible Book Value per Share	($0.89)	($0.96)	($0.96)	$0.51	($0.06)	($0.13)	($0.07)	($0.04)	($0.14)	($0.27)	($0.22)
Total Capital	953	949	965	2,019	1,980	1,991	1,991	1,983	1,945	1,956	2,001
Total Debt	359	367	386	367	368	404	403	403	404	447	495
Total Long-Term Debt	356	351	370	352	351	387	387	387	387	430	459
Net Debt	354	360	379	312	333	388	385	378	387	426	480
Capital Expenditures (CapEx)	18	11	11	11	12	15	14	14	15	17	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	112	105	123	268	256	292	302	285	279	283	350
Debt-free Net Working Capital (DFNWC)	117	112	130	323	291	308	320	310	296	304	365
Net Working Capital (NWC)	114	96	114	308	274	291	304	294	279	287	329
Net Nonoperating Expense (NNE)	5.00	6.60	7.00	229	8.20	10	9.00	9.10	17	16	9.70
Net Nonoperating Obligations (NNO)	354	360	379	312	333	388	385	378	387	426	480
Total Depreciation and Amortization (D&A)	15	16	17	21	33	32	30	26	28	26	26
Debt-free, Cash-free Net Working Capital to Revenue	2.85%	2.74%	3.24%	6.94%	5.63%	5.76%	5.43%	4.80%	4.86%	4.94%	5.75%
Debt-free Net Working Capital to Revenue	2.98%	2.92%	3.42%	8.37%	6.40%	6.08%	5.76%	5.22%	5.16%	5.30%	5.99%
Net Working Capital to Revenue	2.90%	2.51%	3.00%	7.98%	6.02%	5.74%	5.47%	4.95%	4.86%	5.01%	5.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)	($0.21)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	116.87M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M	169.10M	169.65M
Adjusted Diluted Earnings per Share	$0.01	($0.13)	($0.06)	($1.81)	($0.17)	($0.18)	($0.05)	($0.08)	($0.28)	($0.21)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	119.46M	117.22M	117.58M	134.10M	133.41M	168.02M	168.53M	168.58M	168.46M	169.10M	169.65M
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	117.09M	117.55M	117.63M	160.79M	163.33M	163.92M	163.99M	164.11M	164.19M	164.92M	164.93M
Normalized Net Operating Profit after Tax (NOPAT)	9.00	0.00	6.30	8.40	6.30	-7.00	7.00	1.40	-15	-13	8.40
Normalized NOPAT Margin	0.92%	0.00%	0.68%	0.81%	0.38%	-0.49%	0.49%	0.10%	-1.00%	-0.93%	0.47%
Pre Tax Income Margin	0.41%	-2.30%	-0.86%	-23.27%	-1.98%	-2.72%	-0.70%	-1.06%	-3.47%	-3.44%	-0.45%
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	-2.64	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.78	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	-4.18	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	-3.33	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	50.00%	0.00%	0.00%	0.00%	-10.34%	0.00%	0.00%	0.00%	-1.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

RXO’s latest quarter showed strong revenue growth, but profitability and cash generation remain under pressure. Operating revenue reached $1.77 billion in Q2 2026, up from $1.43 billion in Q1 2026 and $1.42 billion in Q2 2025. This was the highest quarterly revenue in the provided data and represents approximately 25% year-over-year growth.

Despite the revenue increase, gross profit was $302 million, producing a 17.0% gross margin. That was below 21.2% in Q2 2025 and approximately 25% in Q2 2024 and Q2 2023. Operating expenses of $301 million nearly consumed gross profit, leaving only $1 million of operating income. Restructuring charges also remained elevated at $11 million, although they were lower than the $21 million recorded in Q4 2025.

RXO reported a $9 million net loss, or $0.05 per diluted share, in Q2 2026. This was an improvement from the $36 million loss in Q1 2026 and the $46 million loss in Q4 2025, but it marked another quarterly loss after the company reported positive net income in Q2 and Q3 2023. The company’s retained earnings deficit widened to $429 million from $324 million in Q2 2025.

Cash flow was a significant weakness. Operating activities used $40 million of cash in Q2 2026, compared with positive operating cash flow of $23 million in Q2 2025 and $24 million in Q2 2023. The primary drag was a $65 million use of operating capital. Accounts receivable increased to $1.44 billion from $1.22 billion in Q1 2026, suggesting that revenue growth is requiring more working capital and may not be converting into cash quickly.

The balance sheet remains adequately capitalized on an accounting basis, with $1.51 billion of equity and $3.46 billion of total assets. However, cash and equivalents fell to only $15 million at quarter-end, down from $21 million in Q1 2026. Total debt increased to approximately $495 million, compared with $447 million in Q1 2026 and $403 million in Q2 2025. Q2 financing activity included $331 million of new debt issuance and $284 million of debt repayment, indicating ongoing refinancing and liquidity management.

Revenue momentum improved: Q2 2026 revenue of $1.77 billion was up approximately 25% year over year and was the highest quarterly level in the supplied data.
Sequential earnings improvement: The net loss narrowed to $9 million from $36 million in Q1 2026 and $46 million in Q4 2025.
Operating break-even was nearly achieved: RXO generated $1 million of operating income in Q2 2026 after reporting operating losses in each of the prior three quarters.
Restructuring costs moderated: The Q2 2026 restructuring charge declined to $11 million from $21 million in Q4 2025, potentially reducing a source of earnings pressure if the improvement continues.
Liquidity depends heavily on financing: Q2 cash declined by $6 million despite $46 million of net financing cash inflow, as operating and investing activities consumed $52 million.
Working-capital needs increased: Accounts receivable rose by approximately $228 million sequentially, while the current ratio remained around 1.3 times. Investors should monitor collections and cash conversion.
Margins have deteriorated: The latest 17.0% gross margin was materially below the roughly 25% levels reported in comparable 2023 and 2024 quarters.
Cash generation weakened: Operating cash flow was negative $40 million in Q2 2026, reversing the positive operating cash flow reported in Q2 2025 and Q2 2024.
Debt increased while cash remained minimal: Total debt rose to approximately $495 million, while cash and equivalents fell to $15 million.
Asset concentration and accumulated losses remain risks: Goodwill and intangible assets totaled approximately $1.54 billion, or about 45% of total assets, while retained earnings showed a $429 million deficit.

Overall, RXO’s financial trend is mixed. Revenue growth and the narrowing quarterly loss are encouraging, but the company has yet to demonstrate consistent profitability or positive operating cash flow. For the stock to improve sustainably, investors will likely want to see gross-margin stabilization, better accounts-receivable collection, renewed operating cash generation and reduced reliance on debt financing.

09/08/26 04:34 AM ETAI Generated. May Contain Errors.

RXO Financials - Frequently Asked Questions

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

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. See RXO's forecast for analyst expectations on what's next for the company.

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

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%.

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.

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.

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%.

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Financial statements for NYSE:RXO last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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RXO (RXO) Financials

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RXO (RXO) Financials

Annual Income Statements for RXO

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Quarterly Cash Flow Statements for RXO

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Quarterly Metrics And Ratios for RXO

Financials Breakdown Chart

Key Financial Trends

RXO Financials - Frequently Asked Questions

When does RXO's fiscal year end?

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

What is RXO's operating income?

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

How much debt does RXO have?

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

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