Sunday 11 October 2026
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QXO, Inc.
QXO Industrials Industrial Distribution
QXO, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.8 billion, up 11,925.0% from fiscal 2024. In the quarter to June 2026, revenue grew 70.3%, EPS grew 6.67%, free cash flow fell 27.6% and total debt rose 82.0%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.
10.81
0.31
−2.79%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 9.60 | 24.00 | 16.88 | 16.00 | 12.96 | 23.04 | 18.00 | 21.68 | 10.61 | 11.85 |
Analyst estimates 2026–2028 Powerpack |
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| High | 40.00 | 41.76 | 36.48 | 66.00 | 107.36 | 118.96 | 50.00 | 147.76 | 290.00 | 24.69 | |||||
| People | |||||||||||||||
| People | Employees | 147 | 158 | 178 | 157 | 165 | 165 | 172 | 195 | 211 | 7,794 | ||||
| Revenue/emp, $m | 0.23 | 0.22 | 0.20 | 0.25 | 0.25 | 0.25 | 0.26 | 0.28 | 0.27 | 0.88 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 34 | 35 | 36 | 39 | 41 | 42 | 45 | 55 | 57 | 6,842 | ||||
| Gross margin, % | 37.30 | 39.78 | 38.38 | 38.12 | 40.22 | 41.27 | 39.93 | 39.65 | 40.60 | 22.99 | |||||
| EBT | 1 | 1 | (1) | (2) | 0 | 0 | 0 | (1) | 51 | (337) | |||||
| EBT margin, % | 3.55 | 2.60 | (3.33) | (4.99) | 0.54 | 0.10 | (1.05) | (2.51) | 89.28 | (4.93) | |||||
| Net income | 3 | 0 | 0 | 7 | 0 | 0 | 0 | (1) | 28 | (279) | |||||
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 430 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 61.83 | 62.11 | 64.18 | 68.44 | 73.27 | 66.37 | 69.65 | 82.98 | 0.28 | 11.16 | ||||
| Earnings | 6.24 | (0.88) | 0.48 | 12.08 | 0.31 | (0.24) | (0.40) | (1.60) | (0.11) | (0.63) | |||||
| Cash flow | 3.25 | 4.11 | (0.48) | (1.61) | 3.07 | 0.36 | 3.16 | 0.89 | 0.42 | 0.43 | |||||
| Capex | (0.90) | (1.45) | (0.71) | (0.27) | (0.22) | (0.18) | (0.29) | (0.61) | 0.00 | (0.13) | |||||
| Free cash flow | 2.35 | 2.66 | (1.18) | (1.88) | 2.85 | 0.18 | 2.86 | 0.28 | 0.42 | 0.30 | |||||
| Book value | 9.01 | 7.53 | 7.71 | 15.81 | 12.94 | 14.89 | 14.79 | 11.37 | 24.77 | 15.83 | |||||
| Shares, m | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 204 | 613 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 3.88 | 0.00 | 10.37 | 2.89 | 68.65 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | 0.39 | 0.52 | 0.29 | 0.51 | 0.31 | 0.54 | 0.33 | 1.56 | 57.01 | 1.73 | |||||
| P/B | 2.66 | 4.32 | 2.41 | 2.20 | 1.77 | 2.40 | 1.57 | 11.38 | 0.71 | 1.37 | |||||
| EV/Sales | 0.37 | 0.48 | 0.28 | 0.29 | 0.19 | 0.40 | 0.20 | 1.48 | (32.05) | 1.85 | |||||
| EV/FCF | 9.62 | 13.10 | (15.24) | (10.55) | 5.14 | 6,225.60 | 5.00 | 789.73 | (21.55) | 69.35 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 2 | 2 | 0 | (1) | 2 | 0 | 2 | 1 | 85 | 261 | ||||
| Capex | 0 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (78) | |||||
| Free cash flow | 1 | 1 | (1) | (1) | 2 | 0 | 2 | 0 | 85 | 183 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 0 | 0 | (1) | 4 | 2 | 3 | 3 | 0 | 5,045 | 3,996 | ||||
| Total debt | 1 | 1 | 2 | 1 | 2 | 1 | 2 | 2 | 0 | 3,196 | |||||
| Net debt | (1) | (2) | 0 | (8) | (5) | (6) | (6) | (4) | (5,068) | 834 | |||||
| Shareholders’ equity | 5 | 4 | 4 | 9 | 7 | 9 | 10 | 7 | 5,053 | 9,707 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 35.90 | (4.62) | 2.37 | 44.27 | 1.01 | (0.79) | (1.43) | (5.10) | (0.90) | (3.70) | ||||
| ROIC | 18.84 | 23.05 | (17.98) | (260.42) | 6.26 | (3.90) | (7.08) | (25.05) | 0.00 | (1.45) | |||||
| ROE | 105.29 | (10.58) | 6.13 | 102.72 | 2.17 | (1.62) | (2.98) | (12.57) | (1.01) | (5.88) | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
QXO, Inc. vs peers in Industrial Distribution (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| WCC WESCO International, Inc. | $17.4B | 25.2× | 22.4× | +12.98% (above 0%: growing) | +10.44% (above 0%: growing) | −70.35% (below 0%: shrinking) | 21.85% | 5.73% | Compare |
| WSO.B Watsco, Inc. | $16.0B | 27.0× | — | +2.06% (above 0%: growing) | −11.50% (below 0%: shrinking) | +17.57% (above 0%: growing) | 27.50% | 11.32% | Compare |
| AIT Applied Industrial Technologies, Inc. | $12.2B | 30.2× | 26.7× | +10.45% (above 0%: growing) | +13.03% (above 0%: growing) | +15.02% (above 0%: growing) | 30.40% | 11.78% | Compare |
| WSO Watsco, Inc. | $11.6B | 24.4× | 28.8× | +2.06% (above 0%: growing) | −11.50% (below 0%: shrinking) | +17.57% (above 0%: growing) | 27.50% | 11.32% | Compare |
| QXO QXO, Inc. | $11.5B | — (loss-making) | — (loss-making) | +70.30% (above 0%: growing) | n/m | −27.62% (below 0%: shrinking) | 24.74% | (1.29%) | |
| CNM Core & Main, Inc. | $7.7B | 16.6× | 19.2× | +2.48% (above 0%: growing) | +8.45% (above 0%: growing) | +83.33% (above 0%: growing) | 26.71% | 10.58% | Compare |
| MSM MSC Industrial Direct Company, Inc. | $7.2B | 31.3× | 27.6× | +7.82% (above 0%: growing) | +41.18% (above 0%: growing) | −23.88% (below 0%: shrinking) | 41.11% | 10.19% | Compare |
| XMTR Xometry, Inc. | $6.1B | — (loss-making) | — (loss-making) | +41.05% (above 0%: growing) | n/m | −41.54% (below 0%: shrinking) | 38.01% | (2.42%) | Compare |
| POOL Pool Corporation | $5.8B | 14.6× | 16.7× | +2.15% (above 0%: growing) | −0.19% (below 0%: shrinking) | −27.07% (below 0%: shrinking) | 29.66% | 14.68% | Compare |
| Median of peers | $9.7B | 25.2× | 24.5× | +5.15% | +8.45% | −4.43% | 28.58% | 10.95% |
QXO, Inc. (QXO) key facts
- Strength: QXO, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.8 billion, up 11,925.0% from fiscal 2024.
- QXO, Inc. (QXO) is an Industrial Distribution company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 9, 2026, QXO traded at $10.81, a market capitalization of $11.5 billion.
- QXO, Inc. does not currently pay a dividend.
- Return on equity was −5.88% and debt-to-equity 0.59.
- Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 1.79 (distress zone) for fiscal 2025.