QXO, Inc. (QXO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 19, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the QXO SEC filings page.
QXO, Inc. (QXO) reported $6.8M in revenue for fiscal year 2025, up 11925.0% from the prior fiscal year. This page shows its 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).
QXO is funding heavy investment with outside capital while its core operations remain loss-making and margins have narrowed.
In FY2025, operating cash flow of$261K and free cash flow of$183K coexisted with a net loss of$279K , so reported cash generation was not coming from accounting profit; the gap points to noncash charges or working-capital movements rather than a profitable operating engine. Gross margin fell from39.7% in FY2023 to23.0% in FY2025, indicating the recent revenue mix or cost base is less favorable than the earlier business.
A 3.6x current ratio alongside 0.3x debt-to-equity suggests short-term liquidity is not the immediate constraint, although the balance sheet is more debt-financed than in FY2023. FY2025 investing cash flow was an outflow of
In FY2025, SG&A of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of QXO, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
QXO, Inc. held $2.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $261K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and QXO, Inc. scores 85/100 among other emerging companies.
QXO, Inc. had 709M shares outstanding at the end of fiscal year 2025, against 409M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and QXO, Inc. scores 1/100 among other emerging companies.
Not available for QXO, Inc., and counted as zero in the overall score.
QXO, Inc. reported revenue of $6.8M in fiscal year 2025, against $57K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and QXO, Inc. scores 2/100 among other emerging companies.
Not available for QXO, Inc., and counted as zero in the overall score.
QXO, Inc.'s cash, cash equivalents and investments came to $2.4M at the end of fiscal year 2025, against $6.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and QXO, Inc. scores 37/100 among other emerging companies.
QXO, Inc. scores 987.25, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($10.5B) relative to total liabilities ($6.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
QXO, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
QXO, Inc. reported a net loss of $279K while generating $261K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
QXO, Inc. reported an operating loss of $245K against $174K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
QXO, Inc. generated $3.2B in revenue in Q2 2026. This represents an increase of 170204.3% from the same quarter a year earlier. Against the prior quarter it is up 87.6%.
QXO, Inc.'s EBITDA was $14.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10394.1% from the same quarter a year earlier. Against the prior quarter it is up 106.8%.
QXO, Inc. reported -$55.0M in net income in Q2 2026. This represents a decrease of 93120.3% from the same quarter a year earlier. Against the prior quarter it is up 75.8%.
Cash & Balance Sheet
QXO, Inc. recorded an outflow of $248.1M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 127553.7% from the same quarter a year earlier. Against the prior quarter it is down 615.8%.
QXO, Inc. held $2.8B in cash against $6.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
QXO, Inc.'s gross margin was 24.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
QXO, Inc.'s operating margin was -1.3% in Q2 2026, reflecting core business profitability. This is up 7.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.3 percentage points.
QXO, Inc.'s net profit margin was -1.7% in Q2 2026, showing the share of revenue converted to profit. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.4 percentage points.
QXO, Inc.'s ROE was -0.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.7 percentage points.
Capital Allocation
QXO, Inc. invested $31.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 158558.2% from the same quarter a year earlier. Against the prior quarter it is up 40.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
QXO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B+170204.3% | $1.7B+12716.3% | N/A | $2.7M-79.2% | $1.9M-86.9% | $13.5M-6.5% | N/A | $13.1M-2.4% |
| Cost of Revenue | $2.4B+162225.6% | $1.3B+16207.4% | N/A | $2.1M-72.5% | $1.5M-82.7% | $8.1M-7.7% | N/A | $7.6M-5.9% |
| Gross Profit | $803.0M+200149.4% | $409.3M+7479.6% | N/A | $636K-88.4% | $401K-93.1% | $5.4M-4.6% | N/A | $5.5M+2.8% |
| SG&A Expenses | $649.0M+141913.1% | $497.0M+1019.4% | N/A | $453K-98.8% | $457K-95.3% | $44.4M+755.5% | N/A | $39.0M+405.7% |
| Operating Income | -$42.0M-25666.9% | -$251.9M-541.0% | N/A | $26K+100.1% | -$163K+96.2% | -$39.3M-17336.8% | N/A | -$33.7M-1217.4% |
| EBITDA | $14.0M+10394.1% | -$204.6M-421.9% | N/A | $66K+100.2% | -$136K+96.8% | -$39.2M-8476.1% | N/A | -$33.7M-1326.8% |
| Interest Expense | $65.0M+124900.0% | $56.5M | N/A | $62K | $52K | $0-100.0% | N/A | $0-100.0% |
| Income Tax | -$22.0M-12259.6% | -$53.2M-725.9% | N/A | $129K-97.9% | -$178K+11.0% | $8.5M+12042.9% | N/A | $6.1M+1437.7% |
| Net Income | -$55.0M-93120.3% | -$227.1M-2680.7% | N/A | -$139K-100.8% | -$59K+90.2% | $8.8M+6276.8% | N/A | $17.2M+915.2% |
| EPS (Basic) | -$0.14+6.7% | -$0.35-1066.7% | -$0.17-1600.0% | -$0.24-2300.0% | -$0.15+98.5% | -$0.03-114.3% | -$0.01-101.6% | -$0.01+99.7% |
| EPS (Diluted) | -$0.14 | -$0.35-1066.7% | -$0.17-1600.0% | -$0.24-2300.0% | -$0.15 | -$0.03 | -$0.01 | -$0.01 |
| Diluted Shares (Avg) | 767M | 744M+64.9% | N/A | 715M+99.4% | 565M | 451M | N/A | 359M |
Not reported in any period shown, so not listed: R&D Expenses.
QXO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $22.7B+32.4% | $16.7B-99.7% | $15.9B+211.6% | $16.6B-99.7% | $17.1B-98.3% | $5.1T+24413.2% | $5.1B+24775.8% | $5.1T+27537906.7% |
| Current Assets | $10.3B+159227.5% | $6.5B+26.5% | $5.5B+9.0% | $6.2M-99.9% | $6.5M-99.3% | $5.1B+40647.3% | $5.1B+43046.8% | $5.1B+45703.2% |
| Cash & Equivalents | $2.8B+121646.8% | $3.0B-40.1% | $2.4B-53.4% | $2.3M-100.0% | $2.3M-99.8% | $5.1B+80823.9% | $5.1B+82408.5% | $5.0B+73118.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $2.1B+111924.2% | $1.7B | $1.5B | $1.7M | $1.8M | N/A | $0 | N/A |
| Accounts Receivable | $1.8B+112992.6% | $1.1B+34985.0% | $1.1B+42307.4% | $1.6M-30.1% | $1.6M-47.7% | $3.2M+21.6% | $2.7M-9.1% | $2.2M-17.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $6.2B+120786.0% | $5.1B+442089.7% | $5.1B+425816.7% | $5.1M+337.1% | $5.1M+350.7% | $1.2M+1.8% | $1.2M+5.3% | $1.2M+1.8% |
| Total Liabilities | $10.3B+43.4% | $6.5B-87.9% | $6.2B+13512.3% | $6.8B-65.7% | $7.2B-57.5% | $53.8B+306.0% | $45.4M+248.6% | $19.9B+175348.4% |
| Current Liabilities | $2.5B+116044.8% | $1.9B+3514.5% | $1.6B+3336.8% | $2.0M-89.6% | $2.2M-86.3% | $53.6M+347.7% | $45.1M+291.4% | $19.5M+85.3% |
| Non-Current Liabilities | $7.8B+55.2% | $4.6B+2437386.6% | $4.6B+1543233.3% | $4.8B+1416113.0% | $5.0B+455833.0% | $187K-85.4% | $300K-80.0% | $338K-56.8% |
| Long-Term Debt | $6.0B+97.6% | $3.1B | $3.1B | $3.1B | $3.1B+340.3% | N/A | $0-100.0% | $0-100.0% |
| Total Equity | $10.4B+104569.7% | $10.2B+100.9% | $9.7B+92.1% | $9.8M-99.8% | $9.9M-99.0% | $5.1B+66478.9% | $5.1B+67273.3% | $5.0B+71401.3% |
| Retained Earnings | -$761.0M-730927.9% | -$652.0M-3164.2% | -$395.0M-6271.0% | -$274K-105.5% | -$104K+95.7% | -$20.0M-1004.4% | -$6.2M-218.3% | $5.0M+310.6% |
QXO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$216.6M-124026.1% | $70.6M+93.4% | $186.6M+246.2% | $213K-99.3% | -$175K+83.6% | $36.5M+9900.0% | $53.9M+23134.2% | $31.6M+2667.1% |
| Depreciation & Amortization | $56.0M+207307.4% | $47.3M+47200.0% | $41.4M | $40K | $27K-73.0% | $100K-58.3% | $0-100.0% | $0-100.0% |
| Stock-Based Compensation | $29.0M-55.4% | $39.2M+94.1% | N/A | $31.1M+122.1% | $65.0M | $20.2M | N/A | $14.0M |
| Capital Expenditures | $31.5M+158558.2% | $22.5M+15311.0% | $28.4M+1419900.0% | $30K | $20K-49.1% | $146K+139.3% | $2K-95.7% | $0-100.0% |
| Free Cash Flow | -$248.1M-127553.7% | $48.1M+32.3% | $158.2M+193.5% | $183K-99.4% | -$194K+82.4% | $36.4M+11858.6% | $53.9M+19349.3% | $31.6M+2796.4% |
| Investing Cash Flow | -$2.0B-18769.6% | -$19.5M-2337.5% | -$25.9M | -$28K | -$10.6M-27015.9% | -$800K-1211.5% | $0+100.0% | $0+100.0% |
| Financing Cash Flow | $4.9B+62004.1% | $633.9M+2917.3% | -$105.8M-370.2% | -$155K-100.0% | $7.9M-99.2% | -$22.5M-13213.6% | -$22.5M-12540.4% | $4.0B+301196.2% |
| Dividends Paid | N/A | N/A | $0 | $0 | N/A | N/A | $0-100.0% | $0-100.0% |
Not reported in any period shown, so not listed: Share Buybacks.
QXO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.7%+3.7pp | 23.7%-16.3pp | N/A | 23.3%-18.7pp | 21.0%-19.0pp | 40.0%+0.8pp | N/A | 42.0%+2.1pp |
| Operating Margin | -1.3%+7.3pp | -14.6% | N/A | 0.9% | -8.6%+21.1pp | -291.1% | N/A | -257.3% |
| Net Margin | -1.7%+1.4pp | -13.1%-78.3pp | N/A | -5.1% | -3.1%+1.0pp | 65.2%+64.2pp | N/A | 131.3% |
| Return on Equity | -0.5%+0.1pp | -2.2%-2.4pp | N/A | -1.4%-1.8pp | -0.6%-0.5pp | 0.2%-1.6pp | N/A | 0.3%+30.3pp |
| Return on Assets | -0.2%-0.2pp | -1.4%-1.4pp | N/A | 0.0%0.0pp | 0.0%0.0pp | 0.0%0.0pp | N/A | 0.0%+11.5pp |
| Current Ratio | 4.11+1.1x | 3.33-91.9x | 3.58-109.3x | 3.06-255.6x | 3.00-58.8x | 95.23+94.2x | 112.85+111.8x | 258.64+257.6x |
| Debt-to-Equity | 0.58+0.3x | 0.30+0.3x | 0.31+0.3x | 0.31+0.3x | 0.31+0.3x | 0.01-0.1x | 0.00-0.1x | 0.00-0.1x |
| Asset Turnover | 0.140.0x | 0.10+0.1x | N/A | 0.16+0.2x | 0.11+0.1x | 0.00-0.7x | N/A | 0.00-0.7x |
| FCF Margin | -7.6%+2.6pp | 2.8% | N/A | 6.7% | -10.2%-2.6pp | 269.3% | N/A | 241.2% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| QXO, Inc. QXO | FY2025 | $6.8M | -$279K | -4.1% | $10.5B | 21/100 |
| Pool Corporation POOL | FY2025 | $5.3B | $406.4M | 7.7% | $6.3B | 58/100 |
| Watsco, Inc. WSO | FY2025 | $7.2B | $587.6M | 8.1% | $12.2B | 72/100 |
| Wesco International Inc. WCC | FY2025 | $23.5B | $640.2M | 2.7% | $16.6B | 48/100 |
| Applied Industrial Technologies, Inc. AIT | FY2026 | $5.0B | $415K | 0.0% | $12.1B | 72/100 |
| Ferguson Enterprises Inc. FERG | FY2025 | $30.8B | $1.9B | 6.0% | $44.8B | 58/100 |
Where QXO, Inc. Ranks
Frequently Asked Questions
What is QXO, Inc.'s annual revenue?
QXO, Inc. (QXO) reported $6.8M in total revenue for fiscal year 2025. This represents a 11925.0% 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 grew by 11925.0% year-over-year, from $57K to $6.8M in fiscal year 2025.
Is QXO, Inc. profitable?
No, QXO, Inc. (QXO) reported a net income of -$279K in fiscal year 2025, with a net profit margin of -4.1%.
What is QXO, Inc.'s EBITDA?
QXO, Inc. (QXO) had EBITDA of -$137K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does QXO, Inc. have?
As of fiscal year 2025, QXO, Inc. (QXO) had $2.4M in cash and equivalents against $3.1M in long-term debt.
What is QXO, Inc.'s gross margin?
QXO, Inc. (QXO) had a gross margin of 23.0% in fiscal year 2025, 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 -3.6% in fiscal year 2025, 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 -4.1% in fiscal year 2025, 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 -2.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is QXO, Inc.'s free cash flow?
QXO, Inc. (QXO) generated $183K in free cash flow during fiscal year 2025. This represents a 116.3% 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 $261K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are QXO, Inc.'s total assets?
QXO, Inc. (QXO) had $15.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are QXO, Inc.'s capital expenditures?
QXO, Inc. (QXO) invested $78K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is QXO, Inc.'s current ratio?
QXO, Inc. (QXO) had a current ratio of 3.58 as of fiscal year 2025, which is generally considered healthy.
What is QXO, Inc.'s debt-to-equity ratio?
QXO, Inc. (QXO) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, 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 -1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is QXO, Inc.'s P/E ratio?
QXO, Inc. (QXO) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $10.5B as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is QXO, Inc.'s price-to-sales ratio?
QXO, Inc. (QXO) has no price-to-sales ratio at the moment: outside the range published as a multiple (on $6.8M revenue, FY2025). The market capitalization is $10.5B as of Oct 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is QXO, Inc.'s Altman Z-Score?
QXO, Inc. (QXO) has an Altman Z-Score of 987.25, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is QXO, Inc.'s Piotroski F-Score?
QXO, Inc. (QXO) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $279K while generating $261K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $245K against $174K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 21 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.