XPO, Inc. XPO

Industrials SIC 4700 - Transportation Services NAICS Transportation and Warehousing › Support Activities for Transportation derived NYSE

XPO, Inc., together with its subsidiaries, is a leading provider of freight transportation services, with company-specific avenues for value creation. We use our proprietary technology to move goods efficiently through supply chains for approximately 55,000 customers in North America and Europe. As of December 31, 2025, we had approximately 37,000 employees and 592 locations in 17 countries.

Our company has two reportable segments: North American Less-Than-Truckload ("LTL"), the largest component of our business; and European Transportation.

LTL in North America is a bedrock industry providing a critical service to the economy, with secular growth drivers, a favorable pricing environment and an established competitive landscape. XPO has one of the largest LTL networks in North America, with approximately 9% share of the U.S. market, estimated to be $53 billion in 2024. For the full year 2025, we moved approximately 16 billion pounds of freight through our network with a customer-focused organization of truck drivers, service center teams and sales professionals, facilitated by our proprietary technology.

Last close 183.21 2026-10-23
Market cap $21.45B 2026-06-30 share count
52-week range 121.48 - 232.05

Valuation FY2025 figures against the last close

P/S2.6x
P/E69.4x
P/FCF65.2x
EV/EBITDA21.7x
Dividend yield—
Diluted EPS2.64

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.16B$8.07B$7.74B$7.72B$7.20B$6.17B$10.68B$17.28B$15.38B$14.62B
Cost of revenue —————$7.85B$8.30B$9.01B$8.13B$7.89B
Gross profit —————-$1.68B$2.38B$8.27B$7.25B$6.73B
SG&A ———$678.0M$756.0M$746.0M$1.07B$1.84B$1.66B$1.65B
Total operating expenses ——————$15.83B$16.57B$14.80B$14.15B
Operating income $656.0M$660.0M$438.0M$377.0M$312.0M$97.0M$561.0M$704.0M$582.0M$464.0M
Interest expense $219.0M$223.0M$168.0M$135.0M$211.0M$308.0M$268.0M$217.0M$284.0M$361.0M
Pre-tax income $437.0M$473.0M$260.0M$258.0M$107.0M-$164.0M$301.0M$566.0M$261.0M$107.0M
Income tax $121.0M$86.0M$68.0M$74.0M$11.0M$54.0M$60.0M$122.0M$99.0M$22.0M
Net income $316.0M$387.0M$189.0M$666.0M$336.0M$110.0M$419.0M$422.0M$340.0M$69.0M
EPS, basic 2.693.331.645.792.990.873.953.172.720.57
EPS, diluted 2.643.231.605.762.930.873.572.882.450.53
Shares, diluted (wtd. avg.) 119.0M120.0M118.0M116.0M114.0M92.0M106.0M135.0M128.0M123.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $310.0M$246.0M$412.0M$460.0M$238.0M$1.67B$192.0M$514.0M$449.0M$400.0M
Receivables $1.03B$977.0M$973.0M$954.0M$908.0M$1.68B$2.50B$2.60B$2.73B$2.31B
Total current assets $1.63B$1.50B$1.59B$1.63B$2.69B$5.38B$3.34B$3.69B$3.59B$3.07B
Property, plant and equipment $3.66B$3.40B$3.08B$1.83B$1.68B$1.89B$2.70B$2.60B$2.66B$2.54B
Goodwill $1.55B$1.46B$1.50B$1.47B$1.59B$1.65B$2.47B$4.47B$4.56B$4.33B
Other intangibles $311.0M$361.0M$422.0M$407.0M$470.0M$675.0M$1.09B$1.25B$1.44B$1.53B
Total assets $8.19B$7.71B$7.49B$6.27B$8.72B$16.18B$14.13B$12.27B$12.60B$11.70B
Accounts payable $455.0M$477.0M$532.0M$521.0M$519.0M$854.0M$1.16B$1.26B$1.25B$1.06B
Short-term debt ———————$367.0M$104.0M$136.5M
Total current liabilities $1.55B$1.42B$1.59B$1.51B$2.55B$5.16B$3.26B$3.31B$3.00B$2.73B
Long-term debt $3.25B$3.33B$3.33B$2.47B$3.51B$5.24B$5.18B$3.90B$4.42B$4.73B
Retained earnings $888.0M$572.0M$185.0M-$4.0M$43.0M$868.0M$786.0M$377.0M-$43.0M-$392.9M
Total equity $1.86B$1.60B$1.27B$1.01B$1.14B$2.85B$2.90B$3.97B$4.01B$3.04B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $986.0M$808.0M$694.0M$824.0M$490.0M$296.0M$629.0M$1.10B$785.0M$622.0M
Depreciation and amortisation $467.0M$432.0M$376.0M$336.0M$327.0M$321.0M$370.0M$546.0M$488.0M$466.0M
Stock-based compensation $77.0M$87.0M$78.0M$77.0M$31.0M$37.0M$56.0M$49.0M$79.0M$55.0M
Capital expenditure $657.0M$789.0M$1.53B$521.0M$269.0M$249.0M$379.0M$551.0M$504.0M$483.0M
Investing cash flow -$616.0M-$702.0M-$1.50B-$404.0M-$141.0M-$70.0M-$67.0M-$400.0M-$386.0M$142.0M
Financing cash flow -$339.0M-$226.0M$761.0M-$861.0M-$1.93B$1.15B-$201.0M-$620.0M-$366.0M-$681.0M
Dividends paid ——————$8.0M$8.0M$7.0M$5.0M
Buybacks $125.0M$0$0——$114.0M$1.35B$536.0M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-040425.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B 20B Revenue, FY2016: 14.6B Gross profit, FY2016: 6.7B Net income, FY2016: 69M Revenue, FY2017: 15.4B Gross profit, FY2017: 7.2B Net income, FY2017: 340M Revenue, FY2018: 17.3B Gross profit, FY2018: 8.3B Net income, FY2018: 422M Revenue, FY2019: 10.7B Gross profit, FY2019: 2.4B Net income, FY2019: 419M Revenue, FY2020: 6.2B Gross profit, FY2020: -1.7B Net income, FY2020: 110M Revenue, FY2021: 7.2B Net income, FY2021: 336M Revenue, FY2022: 7.7B Net income, FY2022: 666M Revenue, FY2023: 7.7B Net income, FY2023: 189M Revenue, FY2024: 8.1B Net income, FY2024: 387M Revenue, FY2025: 8.2B Net income, FY2025: 316M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $14.62B $15.38B $17.28B $10.68B $6.17B $7.20B $7.72B $7.74B $8.07B $8.16B
Gross profit $6.73B $7.25B $8.27B $2.38B -$1.68B — — — — —
Net income $69.0M $340.0M $422.0M $419.0M $110.0M $336.0M $666.0M $189.0M $387.0M $316.0M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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