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Stock research / United States / XPO · Transportation Services · NYSE

Xpo, Inc. (XPO)

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Xpo, Inc. (XPO) reported revenue of $2.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 13.2% on the same quarter a year earlier. Net income was $162 million, up 52.8% on the year, and diluted earnings per share $1.36. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$2.4 billionup 13.2%
Net income$162 millionup 52.8%
Diluted EPS$1.36
QuarterQ2 FY2026ended 30 June 2026

Xpo (XPO) in brief

Xpo (XPO) reported revenue of $8.2 billion for fiscal 2025, the year ended 31 December 2025, up 1.1% on the year before.
Read moreNet income was $316 million and diluted earnings per share $2.64. Revenue was $8.1 billion in fiscal 2024, $7.7 billion in fiscal 2023, $7.7 billion in fiscal 2022 and $7.2 billion in fiscal 2021. Net income in the same years was $387 million, $189 million, $666 million and $336 million. Over the twelve months to 30 June 2026, Xpo reported revenue of $8.6 billion and net income of $404 million. Revenue grew 5.7% a year, compounded, over the five years to fiscal 2025. Xpo had 117 million shares outstanding at the latest filed count. At 30 June 2026 it carried $3.0 billion of debt and $298 million of cash. At the close of 8 October 2026 the market cap of Xpo was $21.3 billion, 53.7 times its earnings over the last twelve months.

Ratios

From the filings

ROE20.6%
ROCE15.0%
Operating margin8.8%
Net margin4.7%
FCF marginn/a
Interest cover3.56
Debt to equity1.55
Cash conversionn/a
Share count, 1 year-0.8%
Sales CAGR, 3 years1.9%
Profit CAGR, 3 years-22.0%
EPS, TTM$3.39

At the close of 8 October 2026

Price$181.95
Market cap$21.3 billion
Stock P/E53.67
Price to book10.85
EV / EBITDA18.72
Dividend yieldn/a
Market cap / sales2.48
52-week high$228.37
52-week low$123.66
Price, 1 year32.3%
Price CAGR, 3 years32.3%
Price CAGR, 5 years18.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Xpo, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
XPOgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on XPO

Filings27 in twelve months: 18 current reports (8-K), about 8 regulation fd disclosure; 4 results of operations; 3 officer or director change; 2 other events; 1 material agreement
Planned insider sales5 Form 144 notices in twelve months, $3.3 million; latest 14 September 2026
Options tapeput/call 8.31 by open interest at the 8 October 2026 close; the straddle prices a 5.0% move to 16 October 2026
13F holders10 of the followed funds hold it; largest Capital Research Global Investors; 12 Schedule 13D or 13G filings in twelve months
Insider trading14 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest6.4 million shares short, 6.10 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,9801,9402,0182,0792,0531,9221,9542,0802,1112,0122,0962,355
Operating income154119138197176149151198164143174271
Operating margin8%6%7%9%9%8%8%10%8%7%8%12%
Interest expense41.042.058.056.056.053.056.056.054.053.053.051.0
Pre-tax income11778.090.014713510191.014311291.0124218
Tax rate26%26%26%-2%30%26%24%26%27%35%19%26%
Net income84.058.067.015095.075.069.010682.059.0101162
Net margin4%3%3%7%5%4%4%5%4%3%5%7%
Diluted EPS$0.71$0.49$0.56$1.25$0.79$0.63$0.58$0.89$0.68$0.50$0.85$1.36
Operating cash flown/an/a145210264n/a142247371n/a183308
Capital expenditure1391,039306190127166199196156106111127
Free cash flown/an/a-16120.0137n/a-57.051.0215n/a72.0181
Buybacksn/an/an/an/a0.0n/a0.010.047.068.030.070.0
Shares outstanding116m116m116m116m116m117m118m118m117m117m117m117m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue2,3577,62314,61915,38117,27910,6816,1687,2027,7187,7448,0728,1578,574
Cost of revenuen/an/a7,8878,1329,0138,3037,8524,6044,945n/an/an/an/a
Gross profitn/an/a6,7327,2498,266n/an/a2,5982,773n/an/an/an/a
Gross marginn/an/a46.1%47.1%47.8%n/an/a36.1%35.9%n/an/an/an/a
Selling, general and administrative62.5n/an/a1,6611,8371,068746756678n/an/an/an/a
Operating income-40.9-28.646458270456197.0312377438660656752
Operating margin-1.7%-0.4%3.2%3.8%4.1%5.3%1.6%4.3%4.9%5.7%8.2%8.0%8.8%
Interest expense48.0217361284217268308211135168223219211
Pre-tax income-89.7-282107261566301-164107258260473437545
Income tax-26.1-90.922.0-99.012260.0-54.011.074.068.086.0121141
Effective tax raten/an/a20.6%-38.0%21.6%19.9%n/a10.3%28.7%26.2%18.2%27.7%25.9%
Net income-63.6-19169.0340422419110336666189387316404
Net margin-2.7%-2.5%0.5%2.2%2.4%3.9%1.8%4.7%8.6%2.4%4.8%3.9%4.7%
Diluted EPS-$2.00-$2.65$0.53$2.45$2.88$3.57$0.78$2.93$5.76$1.60$3.23$2.64$3.39
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
North American LTL4,6714,8994,83259.2%
European Transportation3,0733,1733,32440.8%
North American LTLEuropean Transportation
7,744FY20238,072FY20248,156FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States4,5724,7924,72657.9%
France1,2911,2771,30516.0%
United Kingdom9051,0231,14214.0%
Europe (excluding France and United Kingdom)87787387710.8%
North America (excluding United States)99.01071061.3%
United StatesFranceUnited KingdomEurope (excluding France and United Kingdom)North America (excluding United States)
7,744FY20238,072FY20248,156FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow-21.390.86227851,102629388656832682808986n/a
Capital expenditure44.62494835045513792492695211,533789657500
Free cash flow-65.9-158139281551250139387311-85119.0329n/a
Free cash flow margin-2.8%-2.1%0.9%1.8%3.2%2.3%2.3%5.4%4.0%-11.0%0.2%4.0%n/a
Cash from investing-858-4,085142-386-400-67.0-116-184n/an/an/an/an/a
Cash from financingn/an/a-681-366-620-2011,154-1,932n/an/an/an/an/a
Depreciation and amortisation35.8203466488546370321327336376432467532
Share-based compensation7.527.955.079.049.056.037.031.077.078.087.077.076.0
Buybacksn/an/a0.00.05361,347114n/an/a0.00.0125215
Dividends paidn/an/a5.07.08.08.0n/an/an/an/an/an/an/a
Diluted shares, weighted54m93m123m128m135m106m102m114m116m118m120m119m118m
Shares outstanding at period end77m110m111m120m116m92m102m115m115m116m117m117m117m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,6552,7172,7003,6043,5752,7432,8491,1381,0121,2661,6011,8611,962
Non-controlling interest0.03443384063951531400.0n/an/an/an/an/a
Redeemable equity0.00.0n/an/an/an/an/an/an/an/an/an/an/a
Debt6095,6015,0444,6843,9025,1825,2403,5142,4733,3353,3253,2533,047
Operating lease liabilitiesn/an/an/an/an/a1,776696596606588603611612
Finance lease liabilitiesn/an/an/an/an/a288193180158179158195n/a
Other liabilities4863,9823,6173,9084,3983,9867,0513,2792,0202,1242,0252,2742,712
Total liabilities and equity2,74912,64311,69812,60212,27014,12816,1698,7076,2697,4927,7128,1948,333
Owned
Fixed assets2222,8522,5372,6642,6052,7041,8911,6751,8323,0753,4023,6643,658
Goodwill9294,6114,3264,5644,4672,4741,6511,5941,4721,4981,4611,5471,528
Intangible assets3421,8761,5351,4351,2531,092675470407422361311280
Cash and equivalents6442903733975023771,731228460412246310298
Receivables5442,2662,3132,7252,5962,5001,6809089549739771,0351,267
Inventory1.348.9n/an/an/an/an/an/an/an/an/an/an/a
Other assets67.56996148178474,9818,5413,8321,1441,1121,2651,3271,302
Total assets2,74912,64311,69812,60212,27014,12816,1698,7076,2697,4927,7128,1948,333
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded0.7%5.7%1.9%7.1%
Profit growth, compoundedn/a23.5%-22.0%17.1%
Return on equity, average19.4%30.3%18.7%17.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Transportation

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Booking Holdings Inc. BKNG$120.2 billion17.75n/a32.9%12.9%n/a0.2%
United Airlines Holdings, Inc. UAL$34.9 billion10.0520.9%7.7%8.5%1.46n/a
Expedia Group, Inc. EXPE$30.9 billion16.84168.4%16.0%12.0%4.520.7%
Expeditors International of Washington Inc. EXPD$25.2 billion28.2043.4%9.8%6.8%0.000.8%
HF Sinclair Corp. DINO$21.5 billion11.5218.6%8.3%16.3%0.271.7%
J.B. Hunt Transport Services, Inc. JBHT$21.5 billion32.3518.4%7.5%5.3%0.310.2%
Xpo, Inc. XPO$21.3 billion53.6720.6%8.8%7.1%1.55n/a
Southwest Airlines Co. LUV$20.2 billion25.3711.8%3.5%9.5%0.541.7%
C. H. Robinson Worldwide, Inc. CHRW$16.6 billion26.9738.9%4.9%-0.1%1.041.8%
ZTO Express (Cayman) Inc. ZTO *$15.7 billion11.9213.7%21.3%10.9%n/a3.3%
Gatx Corp. GATX$5.7 billion16.1213.2%29.1%22.8%4.431.5%
GXO Logistics, Inc. GXO$5.3 billion41.034.4%2.4%7.6%0.82n/a
All 29 in Transportation
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Union Pacific Corp. UNP$165.2 billion22.5335.5%40.0%4.2%1.402.0%
Booking Holdings Inc. BKNG$120.2 billion17.75n/a32.9%12.9%n/a0.2%
CSX Corp. CSX$87.7 billion27.3622.9%34.2%2.5%1.221.1%
United Parcel Service Inc. UPS$80.1 billion17.5030.3%7.3%-0.4%1.587.0%
Royal Caribbean Cruises Ltd. RCL$75.3 billion17.3943.0%27.3%8.7%2.231.8%
Norfolk Southern Corp. NSC$71.2 billion27.0516.2%32.2%3.0%0.981.7%
FedEx Corp. FDX$69.0 billion15.7614.0%5.8%7.7%0.742.0%
Delta Air Lines, Inc. DAL$54.0 billion13.6218.1%8.1%10.3%0.590.8%
Old Dominion Freight Line, Inc. ODFL$37.7 billion35.0024.0%25.8%-0.6%0.000.6%
Carnival Corp. Ltd. CCL$35.1 billion11.4122.1%16.0%5.2%1.737.5%
United Airlines Holdings, Inc. UAL$34.9 billion10.0520.9%7.7%8.5%1.46n/a
Expedia Group, Inc. EXPE$30.9 billion16.84168.4%16.0%12.0%4.520.7%
Expeditors International of Washington Inc. EXPD$25.2 billion28.2043.4%9.8%6.8%0.000.8%
HF Sinclair Corp. DINO$21.5 billion11.5218.6%8.3%16.3%0.271.7%
J.B. Hunt Transport Services, Inc. JBHT$21.5 billion32.3518.4%7.5%5.3%0.310.2%
Xpo, Inc. XPO$21.3 billion53.6720.6%8.8%7.1%1.55n/a
Southwest Airlines Co. LUV$20.2 billion25.3711.8%3.5%9.5%0.541.7%
C. H. Robinson Worldwide, Inc. CHRW$16.6 billion26.9738.9%4.9%-0.1%1.041.8%
ZTO Express (Cayman) Inc. ZTO *$15.7 billion11.9213.7%21.3%10.9%n/a3.3%
Knight-Swift Transportation Holdings Inc. KNX$10.6 billion250.190.6%2.7%4.1%0.271.1%
Saia Inc. SAIA$9.1 billion32.9410.2%11.0%4.8%0.04n/a
American Airlines Group Inc. AAL$8.5 billionn/an/a1.7%7.5%n/a0.0%
Kirby Corp. KEX$7.3 billion21.2510.3%14.0%6.6%0.30n/a
Norwegian Cruise Line Holdings Ltd. NCLH$7.1 billion9.6829.6%15.1%6.2%5.40n/a
Landstar System Inc. LSTR$5.7 billion43.9015.7%3.5%4.1%0.002.1%
Gatx Corp. GATX$5.7 billion16.1213.2%29.1%22.8%4.431.5%
GXO Logistics, Inc. GXO$5.3 billion41.034.4%2.4%7.6%0.82n/a
Alaska AIR Group, Inc. ALK$4.4 billionn/a-4.8%-1.5%9.8%1.650.9%
Brinks Co. BCO$4.2 billion23.6958.3%10.5%8.1%12.541.0%
4 companies share its SEC industry code (Transportation Services); the rest are the names nearest in size in its wider industry, Transportation, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 20255 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 20247 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 20243 May 2024EDGAR

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