What is QXO Inc's earnings per share (EPS)?

QXO Inc (QXO) reported diluted earnings per share of $-0.63 for fiscal year 2025. This represents a -472.7% 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.

QXO Inc Financials

QXO

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows QXO Inc (QXO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Rhea AI QXO FY2025 2026-04-22

QXO now looks like a lightly capital-intensive, externally funded reset where scale is too small to absorb overhead.

FY2025 produced positive operating cash flow of $261K and free cash flow of $183K despite an operating loss of -$245K. That combination, after FY2024’s near-zero revenue base, says the issue is insufficient gross profit at the current scale rather than a cash-hungry operating model, because maintenance spending was only $78K.

What changed most is the margin shape: gross margin fell to 23.0% in FY2025 from roughly 40.0% across the prior three years, while SG&A of $1.39M consumed most of the $1.57M gross profit. That points to a different revenue mix or cost base, not just a temporary dip in sales.

The balance sheet looks liquid in the short term but the year’s expansion was financed externally. Cash ended FY2025 at $2.36M with a 3.6x current ratio, yet investing outflows of $10.63M far exceeded internally generated cash and were paired with $7.66M of financing inflow; with capex only $78K, the spending was aimed at building the asset base rather than maintaining operations.

Financial Health Signals

Financial Health Score 24/100

Scored as: Emerging companies peer group

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.

Cash Runway

Dilution

Revenue Progress

Balance Sheet

Altman Z-Score Safe

1434.85

QXO Inc scores 1434.85, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($15.1B) 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.

Piotroski F-Score Partial

3/8

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.

Earnings Quality Mixed

-0.94x

For every $1 of reported earnings, QXO Inc generates $-0.94 in operating cash flow ($261K OCF vs -$279K net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.4x

QXO Inc earns $-1.4 in operating income for every $1 of interest expense (-$245K vs $174K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.8M

YoY+11925.0%

5Y CAGR-30.2%

10Y CAGR-13.0%

QXO Inc generated $6.8M in revenue in fiscal year 2025. This represents an increase of 11925.0% from the prior year.

EBITDA

-$137K

YoY-93.2%

QXO Inc's EBITDA was -$137K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 93.2% from the prior year.

Net Income

-$279K

YoY-1097.9%

QXO Inc reported -$279K in net income in fiscal year 2025. This represents a decrease of 1097.9% from the prior year.

EPS (Diluted)

$-0.63

YoY-472.7%

QXO Inc earned $-0.63 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 472.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$183K

YoY+116.3%

5Y CAGR-35.2%

10Y CAGR+12.0%

QXO Inc generated $183K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 116.3% from the prior year.

Cash & Debt

$2.4M

YoY-53.4%

5Y CAGR-18.6%

10Y CAGR+7.1%

QXO Inc held $2.4M in cash against $3.1M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

675M

YoY+64.8%

QXO Inc had 675M shares outstanding in fiscal year 2025. This represents an increase of 64.8% from the prior year.

Margins & Returns

Gross Margin

23.0%

YoY-17.6pp

5Y CAGR-17.2pp

10Y CAGR-16.2pp

QXO Inc's gross margin was 23.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 17.6 percentage points from the prior year.

Operating Margin

-3.6%

YoY+121.2pp

5Y CAGR-4.1pp

10Y CAGR-4.9pp

QXO Inc's operating margin was -3.6% in fiscal year 2025, reflecting core business profitability. This is up 121.2 percentage points from the prior year.

Net Margin

-4.1%

YoY-53.3pp

5Y CAGR-4.5pp

10Y CAGR-5.4pp

QXO Inc's net profit margin was -4.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 53.3 percentage points from the prior year.

Return on Equity

-2.9%

YoY-3.4pp

5Y CAGR-5.3pp

10Y CAGR-26.9pp

QXO Inc's ROE was -2.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$78K

YoY+76566.7%

5Y CAGR-8.9%

10Y CAGR+1.5%

QXO Inc invested $78K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 76566.7% from the prior year.

QXO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$6.8M+11925.0%	$57K-99.9%	$54.5M+21.2%	$45.0M+7.9%	$41.7M+1.2%	$41.2M
Cost of Revenue	$5.3M+15490.2%	$34K-99.9%	$32.9M+21.8%	$27.0M+10.3%	$24.5M-0.6%	$24.6M
Gross Profit	$1.6M+6708.2%	$23K-99.9%	$21.6M+20.3%	$18.0M+4.4%	$17.2M+3.8%	$16.6M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.4M+1399.8%	$93K-99.6%	$22.1M+133.3%	$9.5M+0.7%	$9.4M+13.6%	$8.3M
Operating Income	-$245K-245.4%	-$71K+94.6%	-$1.3M-240.2%	-$385K-66.8%	-$231K-203.4%	$223K
Interest Expense	$174K+173400.0%	$100-99.8%	$56K-37.5%	$89K+90.2%	$47K+443.7%	-$14K
Income Tax	-$58K-353.1%	$23K+107.7%	-$297K-54.5%	-$192K-208.0%	$178K+275.6%	$47K
Net Income	-$279K-1097.9%	$28K+102.6%	-$1.1M-279.1%	-$282K-109.9%	-$134K-176.5%	$176K
EPS (Diluted)	$-0.63-472.7%	$-0.11+93.3%	$-1.63	$-0.05-66.7%	$-0.03-175.0%	$0.04

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$1.7B	N/A	$2.7M+43.1%	$1.9M-85.9%	$13.5M	N/A	$13.1M-9.7%	$14.5M
Cost of Revenue	$1.3B	N/A	$2.1M+39.1%	$1.5M-81.4%	$8.1M	N/A	$7.6M-12.6%	$8.7M
Gross Profit	$409.3M	N/A	$636K+58.3%	$402K-92.6%	$5.4M	N/A	$5.5M-5.2%	$5.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$497.0M	N/A	$453K-0.9%	$457K-99.0%	$44.4M	N/A	$39.0M+298.0%	$9.8M
Operating Income	-$251.9M	N/A	$26K+115.9%	-$162K+99.6%	-$39.3M	N/A	-$33.7M-683.7%	-$4.3M
Interest Expense	$56.5M	N/A	$62K+18.7%	$53K	$0	N/A	$0	$0
Income Tax	-$53.2M	N/A	$129K+172.5%	-$178K-102.1%	$8.5M	N/A	$6.1M+3150.0%	-$200K
Net Income	-$227.1M	N/A	-$139K-138.3%	-$59K-100.7%	$8.8M	N/A	$17.2M+2966.7%	-$600K
EPS (Diluted)	$-0.35	N/A	$-0.24-60.0%	$-0.15-400.0%	$-0.03	N/A	$-0.01+99.9%	$-9.93

QXO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$15.9M+211.6%	$5.1M-75.1%	$20.5M-4.4%	$21.4M+19.1%	$18.0M+13.2%	$15.9M
Current Assets	$5.5M+9.0%	$5.1M-56.9%	$11.8M-13.9%	$13.7M+27.9%	$10.7M+24.1%	$8.6M
Cash & Equivalents	$2.4M-53.4%	$5.1M-17.5%	$6.1M-23.3%	$8.0M+17.5%	$6.8M+3.3%	$6.6M
Inventory	N/A	$0	N/A	N/A	N/A	N/A
Accounts Receivable	$1.1M-57.6%	$2.7M-9.1%	$3.0M+33.0%	$2.2M+15.9%	$1.9M+21.9%	$1.6M
Goodwill	$5.1M+325.9%	$1.2M+5.3%	$1.1M0.0%	$1.1M+12.6%	$1.0M0.0%	$1.0M
Total Liabilities	$6.2M+13513.4%	$45K-99.7%	$13.0M+9.6%	$11.9M+37.5%	$8.6M+0.2%	$8.6M
Current Liabilities	$1.6M	N/A	$11.5M+7.2%	$10.8M+45.5%	$7.4M+9.8%	$6.7M
Long-Term Debt	$3.1M	$0-100.0%	$994K+48.1%	$671K+44.7%	$464K+59.4%	$291K
Total Equity	$9.7M+92.1%	$5.1M-32.6%	$7.5M-21.5%	$9.6M+2.1%	$9.4M+28.5%	$7.3M
Retained Earnings	-$394.5M-6262.9%	-$6.2M-218.3%	-$1.9M-122.2%	-$877K-47.5%	-$594K-29.2%	-$460K

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$16.7B+4.9%	$15.9B-4.5%	$16.6B-2.8%	$17.1B-99.7%	$5.1T+100192.2%	$5.1B-99.9%	$5.1T+412.4%	$988.2B
Current Assets	$6.5B+16.4%	$5.5B+89136.2%	$6.2M-4.3%	$6.5M-99.9%	$5.1B+0.3%	$5.1B+0.7%	$5.1B+416.0%	$979.8M
Cash & Equivalents	$3.0B+29.0%	$2.4B+102271.1%	$2.3M+1.2%	$2.3M-100.0%	$5.1B+0.3%	$5.1B+0.6%	$5.0B+418.6%	$971.3M
Inventory	$1.7B+11.4%	$1.5B+89892.8%	$1.7M-10.0%	$1.8M	N/A	$0	N/A	N/A
Accounts Receivable	$1.1B-0.8%	$1.1B+73191.1%	$1.6M-0.8%	$1.6M-51.3%	$3.2M+19.9%	$2.7M+20.8%	$2.2M-25.8%	$3.0M
Goodwill	$5.1B+0.4%	$5.1B+100698.7%	$5.1M-1.3%	$5.1M+342.9%	$1.2M-3.3%	$1.2M+3.4%	$1.2M+1.8%	$1.1M
Total Liabilities	$6.5B+5.1%	$6.2B-9.4%	$6.8B-5.2%	$7.2B-86.6%	$53.8B+118362.6%	$45.4M-99.8%	$19.9B+17.3%	$16.9B
Current Liabilities	$1.9B+25.0%	$1.6B+76097.0%	$2.0M-6.1%	$2.2M-96.0%	$53.6M+18.8%	$45.1M+130.7%	$19.5M+23.4%	$15.8M
Long-Term Debt	$3.1B0.0%	$3.1B+0.1%	$3.1B0.0%	$3.1B	N/A	$0	$0-100.0%	$693.0M
Total Equity	$10.2B+4.7%	$9.7B+98728.1%	$9.8M-0.9%	$9.9M-99.8%	$5.1B+0.1%	$5.1B+0.2%	$5.0B+419.3%	$971.2M
Retained Earnings	-$652.0M-65.3%	-$394.5M-143930.7%	-$274K-163.1%	-$104K+99.5%	-$20.0M-222.2%	-$6.2M-224.4%	$5.0M+307.6%	-$2.4M

QXO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$261K+208.3%	$85K-85.5%	$584K-71.3%	$2.0M+801.8%	$226K-86.9%	$1.7M
Capital Expenditures	$78K+76566.7%	$102-99.9%	$121K+212.3%	$39K-66.2%	$115K-8.0%	$125K
Free Cash Flow	$183K+116.3%	$85K-81.7%	$463K-76.8%	$2.0M+1697.1%	$111K-93.1%	$1.6M
Investing Cash Flow	-$10.6M-10630200.0%	-$100+100.0%	-$400K-111.9%	-$189K+63.0%	-$510K-160.8%	$840K
Financing Cash Flow	$7.7M+53.8%	$5.0M+343.0%	-$2.0M-212.9%	-$655K-230.2%	$503K+110.9%	-$4.6M
Dividends Paid	$0-100.0%	$17K-98.3%	$1.1M	$0-100.0%	$3.1M-23.9%	$4.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$70.6M-62.2%	$186.6M+87711.8%	$213K+222.0%	-$174K-100.5%	$36.5M-32.3%	$53.9M+70.6%	$31.6M+3067.1%	-$1.1M
Capital Expenditures	$22.5M-20.8%	$28.4M+94252.2%	$30K+53.9%	$20K-86.6%	$146K+7200.0%	$2K	$0-100.0%	$39K
Free Cash Flow	$48.1M-69.6%	$158.2M+86632.5%	$182K+194.1%	-$194K-100.5%	$36.4M-32.6%	$53.9M+70.6%	$31.6M+2962.3%	-$1.1M
Investing Cash Flow	-$19.5M+24.7%	-$25.9M-89210.3%	-$29K+99.7%	-$10.6M-1221.8%	-$800K	$0	$0+100.0%	-$39K
Financing Cash Flow	$633.9M+699.1%	-$105.8M-68114.1%	-$155K-102.0%	$7.9M+135.3%	-$22.5M0.0%	-$22.5M-100.6%	$4.0B+318.0%	$966.1M
Dividends Paid	N/A	$0	$0	N/A	N/A	$0	$0	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

QXO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	23.0%-17.6pp	40.6%+1.0pp	39.6%-0.3pp	39.9%-1.3pp	41.3%+1.0pp	40.2%
Operating Margin	-3.6%+121.2pp	-124.8%-122.4pp	-2.4%-1.5pp	-0.9%-0.3pp	-0.5%-1.1pp	0.5%
Net Margin	-4.1%-53.3pp	49.2%+51.2pp	-2.0%-1.3pp	-0.6%-0.3pp	-0.3%-0.8pp	0.4%
Return on Equity	-2.9%-3.4pp	0.5%+14.8pp	-14.3%-11.3pp	-2.9%-1.5pp	-1.4%-3.9pp	2.4%
Return on Assets	-1.8%-2.3pp	0.5%+5.8pp	-5.2%-3.9pp	-1.3%-0.6pp	-0.8%-1.8pp	1.1%
Current Ratio	3.58	N/A	1.02-0.3	1.27-0.2	1.45+0.2	1.28
Debt-to-Equity	0.32+0.3	0.00-0.1	0.13+0.1	0.07+0.0	0.050.0	0.04
FCF Margin	2.7%-146.2pp	148.8%+148.0pp	0.9%-3.6pp	4.5%+4.2pp	0.3%-3.6pp	3.9%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	23.7%	N/A	23.3%+2.2pp	21.1%-18.9pp	40.0%	N/A	42.0%+2.0pp	40.0%
Operating Margin	-14.6%	N/A	0.9%+9.4pp	-8.5%+282.6pp	-291.1%	N/A	-257.3%-227.6pp	-29.7%
Net Margin	-13.1%	N/A	-5.1%-2.0pp	-3.1%-68.3pp	65.2%	N/A	131.3%+135.4pp	-4.1%
Return on Equity	-2.2%	N/A	-1.4%-0.8pp	-0.6%-0.8pp	0.2%	N/A	0.3%+0.4pp	-0.1%
Return on Assets	-1.4%	N/A	0.0%0.0pp	0.0%0.0pp	0.0%	N/A	0.0%0.0pp	-0.0%
Current Ratio	3.33-0.2	3.58+0.5	3.06+0.1	3.00-92.2	95.23-17.6	112.85-145.8	258.64+196.8	61.84
Debt-to-Equity	0.30-0.0	0.320.0	0.310.0	0.31+0.3	0.01+0.0	0.000.0	0.000.0	0.00
FCF Margin	2.8%	N/A	6.7%+16.8pp	-10.2%-279.4pp	269.3%	N/A	241.2%+248.8pp	-7.6%

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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% 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.

How many shares does QXO Inc have outstanding?

QXO Inc (QXO) had 675M shares outstanding as of fiscal year 2025.

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 0.32 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 Altman Z-Score?

QXO Inc (QXO) has an Altman Z-Score of 1434.85, 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) has an earnings quality ratio of -0.94x, considered mixed 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 -1.4x, 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 24 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.