QXO Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
QXO Inc has an operating margin of -124.8%, meaning the company retains $-125 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -2.4% the prior year.
QXO Inc's revenue declined 99.9% year-over-year, from $54.5M to $57K. This contraction results in a growth score of 0/100.
QXO Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
QXO Inc's current ratio of 0.11 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.
QXO Inc converts 149.1% of revenue into free cash flow ($85K). This strong cash generation earns a score of 100/100.
QXO Inc generates a 0.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 2/100.
QXO Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, QXO Inc generates $3.03 in operating cash flow ($85K OCF vs $28K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
QXO Inc earns $-1183.3 in operating income for every $1 of interest expense (-$71K vs $60). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows QXO Inc (QXO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
QXO Inc generated $57K in revenue in fiscal year 2024. This represents a decrease of 99.9% from the prior year.
QXO Inc's EBITDA was -$70K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 85.5% from the prior year.
QXO Inc generated $85K in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 81.7% from the prior year.
QXO Inc reported $28K in net income in fiscal year 2024. This represents an increase of 102.6% from the prior year.
QXO Inc earned $-0.11 per diluted share (EPS) in fiscal year 2024. This represents an increase of 93.3% from the prior year.
QXO Inc held $5.1M in cash against $0 in long-term debt as of fiscal year 2024.
QXO Inc had 409M shares outstanding in fiscal year 2024. This represents an increase of 61515.1% from the prior year.
QXO Inc's gross margin was 40.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the prior year.
QXO Inc's operating margin was -124.8% in fiscal year 2024, reflecting core business profitability. This is down 122.4 percentage points from the prior year.
QXO Inc's net profit margin was 49.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 51.1 percentage points from the prior year.
QXO Inc's ROE was 0.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
QXO Inc invested $102 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.
QXO Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.7B+43.1% | $1.9B+14013.1% | $13.5M+3.1% | $13.1M-9.7% | $14.5M+0.4% | $14.4M-1.9% | $14.7M+9.6% | $13.4M |
| Cost of Revenue | $2.1B+39.1% | $1.5B+18426.2% | $8.1M+6.9% | $7.6M-12.6% | $8.7M-0.9% | $8.8M-2.3% | $9.0M+11.3% | $8.1M |
| Gross Profit | $635.8M+58.3% | $401.7M+7358.2% | $5.4M-2.1% | $5.5M-5.2% | $5.8M+2.5% | $5.7M-1.1% | $5.7M+6.9% | $5.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $452.5M-0.9% | $456.8M+928.3% | $44.4M+13.9% | $39.0M+298.0% | $9.8M+88.8% | $5.2M-28.9% | $7.3M-5.3% | $7.7M |
| Operating Income | $25.8M+115.9% | -$162.1M-312.6% | -$39.3M-16.6% | -$33.7M-683.7% | -$4.3M-1986.0% | $228K-45.9% | $421K+116.5% | -$2.6M |
| Interest Expense | $62.3M+18.7% | $52.5M+874900.0% | $6K | $0 | $0-100.0% | $20K+50.4% | $13K+74.5% | $8K |
| Income Tax | $128.9M+172.5% | -$177.8M-2188.8% | $8.5M+39.5% | $6.1M+3150.0% | -$200K-385.7% | $70K+748.7% | -$11K+97.6% | -$456K |
| Net Income | -$139.4M-138.3% | -$58.5M-768.2% | $8.8M-49.1% | $17.2M+2966.7% | -$600K-534.8% | $138K-67.0% | $419K+119.8% | -$2.1M |
| EPS (Diluted) | $-0.24-60.0% | $-0.15-400.0% | $-0.03-200.0% | $-0.01+99.9% | $-9.93 | $0.21 | $1.01 | $-3.21 |
QXO Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.6B-2.8% | $17.1B+234.7% | $5.1B+0.3% | $5.1B+415.9% | $988.2M+4637.5% | $20.9M+1.8% | $20.5M+11.5% | $18.4M |
| Current Assets | $6.2B-4.3% | $6.5B+27.2% | $5.1B+0.3% | $5.1B+419.4% | $979.8M+7722.4% | $12.5M+6.2% | $11.8M+6.9% | $11.0M |
| Cash & Equivalents | $2.3B+1.2% | $2.3B-55.2% | $5.1B+0.3% | $5.1B+421.8% | $971.3M+15367.4% | $6.3M+2.2% | $6.1M-10.7% | $6.9M |
| Inventory | $1.7B-10.0% | $1.8B | N/A | $0 | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.6B-0.8% | $1.6B+48577.8% | $3.2M+19.9% | $2.7M-10.4% | $3.0M+13.3% | $2.7M-10.3% | $3.0M+10.2% | $2.7M |
| Goodwill | $5.1B-1.3% | $5.1B+442822.4% | $1.2M-3.3% | $1.2M+5.3% | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1.1M |
| Total Liabilities | $6.8B-5.2% | $7.2B+13285.3% | $53.8M+18.5% | $45.4M+167.8% | $16.9M+27.9% | $13.2M+1.7% | $13.0M+14.9% | $11.3M |
| Current Liabilities | $2.0B-6.1% | $2.2B+3940.3% | $53.6M+18.8% | $45.1M+184.6% | $15.8M+32.4% | $12.0M+3.9% | $11.5M+9.2% | $10.6M |
| Long-Term Debt | $3.1B0.0% | $3.1B | N/A | $0-100.0% | $693K-17.9% | $844K-15.1% | $994K+160.7% | $381K |
| Total Equity | $9.8B-0.9% | $9.9B+96.0% | $5.1B+0.1% | $5.1B+420.3% | $971.2M+12678.9% | $7.6M+1.3% | $7.5M+6.3% | $7.1M |
| Retained Earnings | -$273.9M-163.1% | -$104.1M-421.2% | -$20.0M-222.2% | -$6.2M-158.3% | -$2.4M-32.7% | -$1.8M+7.2% | -$1.9M+17.7% | -$2.4M |
QXO Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $212.5M+222.0% | -$174.2M-577.2% | $36.5M-32.4% | $54.0M+5168.8% | -$1.1M-391.8% | $365K+256.0% | -$234K-120.5% | $1.1M |
| Capital Expenditures | $30.1M+53.9% | $19.6M+13293.2% | $146K+7200.0% | $2K-94.9% | $39K-36.1% | $61K+32.6% | $46K-9.8% | $51K |
| Free Cash Flow | $182.4M+194.1% | -$193.8M-632.9% | $36.4M-32.6% | $54.0M+4989.6% | -$1.1M-463.2% | $304K+208.6% | -$280K-125.7% | $1.1M |
| Investing Cash Flow | -$29.0M+99.7% | -$10.6B-1313514.3% | -$805K-40150.0% | -$2K+94.9% | -$39K+36.1% | -$61K+81.2% | -$325K-537.3% | -$51K |
| Financing Cash Flow | -$155.1M-102.0% | $7.9B+35368.0% | -$22.5M0.0% | -$22.5M-102.3% | $966.1M+571738.5% | -$169K+5.1% | -$178K+86.7% | -$1.3M |
| Dividends Paid | $0 | N/A | N/A | $0 | N/A | N/A | $256-100.0% | $1.1M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
QXO Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.3%+2.2pp | 21.1%-18.8pp | 39.9%-2.1pp | 42.0%+2.0pp | 40.0%+0.8pp | 39.2%+0.3pp | 38.9%-1.0pp | 39.9% |
| Operating Margin | 0.9%+9.4pp | -8.5%+282.3pp | -290.8%-33.6pp | -257.3%-227.6pp | -29.7%-31.2pp | 1.6%-1.3pp | 2.9%+21.9pp | -19.1% |
| Net Margin | -5.1%-2.0pp | -3.1%-67.9pp | 64.8%-66.5pp | 131.3%+135.4pp | -4.1%-5.1pp | 1.0%-1.9pp | 2.9%+18.6pp | -15.7% |
| Return on Equity | N/A | N/A | 0.2%-0.2pp | 0.3% | N/A | 1.8%-3.8pp | 5.6% | N/A |
| Return on Assets | -0.8%-0.5pp | -0.3%-0.5pp | 0.2%-0.2pp | 0.3%+0.4pp | -0.1%-0.7pp | 0.7%-1.4pp | 2.0%+13.5pp | -11.5% |
| Current Ratio | 3.06+0.1 | 3.00-92.2 | 95.23-17.6 | 112.85+51.0 | 61.84+60.8 | 1.05+0.0 | 1.02-0.0 | 1.05 |
| Debt-to-Equity | 0.310.0 | 0.31+0.3 | 0.01+0.0 | 0.000.0 | 0.00-0.1 | 0.11-0.0 | 0.13+0.1 | 0.05 |
| FCF Margin | 6.7%+16.8pp | -10.2%-279.3pp | 269.2%+27.9pp | 241.2%+248.8pp | -7.6%-9.7pp | 2.1%+4.0pp | -1.9%-10.0pp | 8.1% |
Note: The current ratio is below 1.0 (0.11), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is QXO Inc's annual revenue?
QXO Inc (QXO) reported $57K in total revenue for fiscal year 2024. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is QXO Inc's revenue growing?
QXO Inc (QXO) revenue declined by 99.9% year-over-year, from $54.5M to $57K in fiscal year 2024.
Is QXO Inc profitable?
Yes, QXO Inc (QXO) reported a net income of $28K in fiscal year 2024, with a net profit margin of 49.2%.
What is QXO Inc's earnings per share (EPS)?
QXO Inc (QXO) reported diluted earnings per share of $-0.11 for fiscal year 2024. This represents a 93.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is QXO Inc's EBITDA?
QXO Inc (QXO) had EBITDA of -$70K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does QXO Inc have?
As of fiscal year 2024, QXO Inc (QXO) had $5.1M in cash and equivalents against $0 in long-term debt.
What is QXO Inc's gross margin?
QXO Inc (QXO) had a gross margin of 40.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is QXO Inc's operating margin?
QXO Inc (QXO) had an operating margin of -124.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is QXO Inc's net profit margin?
QXO Inc (QXO) had a net profit margin of 49.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is QXO Inc's return on equity (ROE)?
QXO Inc (QXO) has a return on equity of 0.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is QXO Inc's free cash flow?
QXO Inc (QXO) generated $85K in free cash flow during fiscal year 2024. This represents a -81.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is QXO Inc's operating cash flow?
QXO Inc (QXO) generated $85K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are QXO Inc's total assets?
QXO Inc (QXO) had $5.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are QXO Inc's capital expenditures?
QXO Inc (QXO) invested $102 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does QXO Inc have outstanding?
QXO Inc (QXO) had 409M shares outstanding as of fiscal year 2024.
What is QXO Inc's current ratio?
QXO Inc (QXO) had a current ratio of 0.11 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is QXO Inc's debt-to-equity ratio?
QXO Inc (QXO) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is QXO Inc's return on assets (ROA)?
QXO Inc (QXO) had a return on assets of 0.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is QXO Inc's Piotroski F-Score?
QXO Inc (QXO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are QXO Inc's earnings high quality?
QXO Inc (QXO) has an earnings quality ratio of 3.03x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can QXO Inc cover its interest payments?
QXO Inc (QXO) has an interest coverage ratio of -1183.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is QXO Inc?
QXO Inc (QXO) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.