QXO Inc Financials
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’s reported FY2025 profile is a financed transition: cash deployment far exceeds routine reinvestment while core operations remain loss-making.
By FY2025, reported revenue was$6.8M , versus$54.5M in FY2023, indicating a materially smaller operating base rather than ordinary growth volatility. Gross margin also fell to23.0% from39.7% , so the pressure reflects both reduced scale and weaker economics before overhead is considered.
FY2025 operating cash flow was
The balance sheet is more liquid short term than its leverage ratio suggests: a current ratio of 3.6x contrasts with debt-to-equity of 0.3x. However, investing cash flow 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.
Not available for QXO Inc, and counted as zero in the overall score.
Not available for QXO Inc, and counted as zero in the overall score.
QXO Inc scores 1327.71, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($14.0B) 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 $6.8M in revenue in fiscal year 2025. This represents an increase of 11925.0% from the prior year.
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.
QXO Inc reported -$279K in net income in fiscal year 2025. This represents a decrease of 1097.9% from the prior year.
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
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.
QXO Inc held $2.4M in cash against $3.1M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
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.
QXO Inc's operating margin was -3.6% in fiscal year 2025, reflecting core business profitability. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
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.
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
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
QXO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B+87.6% | $1.7B | N/A | $2.7M+43.1% | $1.9M-85.9% | $13.5M | N/A | $13.1M |
| Cost of Revenue | $2.4B+84.9% | $1.3B | N/A | $2.1M+39.0% | $1.5M-81.4% | $8.1M | N/A | $7.6M |
| Gross Profit | $803.0M+96.2% | $409.3M | N/A | $636K+58.6% | $401K-92.6% | $5.4M | N/A | $5.5M |
| SG&A Expenses | $649.0M+30.6% | $497.0M | N/A | $453K-1.0% | $457K-99.0% | $44.4M | N/A | $39.0M |
| Operating Income | -$42.0M+83.3% | -$251.9M | N/A | $26K+115.8% | -$163K+99.6% | -$39.3M | N/A | -$33.7M |
| Interest Expense | $65.0M+15.0% | $56.5M | N/A | $62K+19.8% | $52K | $0 | N/A | $0 |
| Income Tax | -$22.0M+58.6% | -$53.2M | N/A | $129K+172.4% | -$178K-102.1% | $8.5M | N/A | $6.1M |
| Net Income | -$55.0M+75.8% | -$227.1M | N/A | -$139K-136.3% | -$59K-100.7% | $8.8M | N/A | $17.2M |
| EPS (Diluted) | -$0.14 | -$0.35-105.9% | -$0.17+29.2% | -$0.24-60.0% | -$0.15-400.0% | -$0.03-200.0% | -$0.010.0% | -$0.01 |
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.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $22.7B+36.0% | $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 |
| Current Assets | $10.3B+60.3% | $6.5B+16.4% | $5.5B+89131.4% | $6.2M-4.3% | $6.5M-99.9% | $5.1B+0.3% | $5.1B+0.7% | $5.1B |
| Cash & Equivalents | $2.8B-8.9% | $3.0B+29.0% | $2.4B+102288.5% | $2.3M+1.2% | $2.3M-100.0% | $5.1B+0.3% | $5.1B+0.6% | $5.0B |
| Inventory | $2.1B+24.2% | $1.7B+11.4% | $1.5B+89874.8% | $1.7M-10.0% | $1.8M | N/A | $0 | N/A |
| Accounts Receivable | $1.8B+56.9% | $1.1B-0.8% | $1.1B+73184.7% | $1.6M-0.8% | $1.6M-51.3% | $3.2M+19.9% | $2.7M+20.8% | $2.2M |
| Goodwill | $6.2B+21.1% | $5.1B+0.4% | $5.1B+100692.8% | $5.1M-1.3% | $5.1M+342.9% | $1.2M-3.3% | $1.2M+3.4% | $1.2M |
| Total Liabilities | $10.3B+59.0% | $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 |
| Current Liabilities | $2.5B+29.8% | $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 |
| Long-Term Debt | $6.0B+97.1% | $3.1B+0.1% | $3.1B+0.1% | $3.1B0.0% | $3.1B | N/A | $0 | $0 |
| Total Equity | $10.4B+2.1% | $10.2B+4.7% | $9.7B+98730.2% | $9.8M-0.9% | $9.9M-99.8% | $5.1B+0.1% | $5.1B+0.2% | $5.0B |
| Retained Earnings | -$761.0M-16.7% | -$652.0M-65.1% | -$395.0M-144113.2% | -$274K-163.1% | -$104K+99.5% | -$20.0M-222.2% | -$6.2M-224.4% | $5.0M |
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.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$216.6M-406.8% | $70.6M-62.2% | $186.6M+87588.0% | $213K+221.9% | -$175K-100.5% | $36.5M-32.3% | $53.9M+70.6% | $31.6M |
| Capital Expenditures | $31.5M+40.0% | $22.5M-20.8% | $28.4M+95202.0% | $30K+50.1% | $20K-86.4% | $146K+7200.0% | $2K | $0 |
| Free Cash Flow | -$248.1M-615.8% | $48.1M-69.6% | $158.2M+86348.1% | $183K+194.2% | -$194K-100.5% | $36.4M-32.6% | $53.9M+70.6% | $31.6M |
| Investing Cash Flow | -$2.0B-10133.3% | -$19.5M+24.7% | -$25.9M-91097.2% | -$28K+99.7% | -$10.6M-1221.9% | -$800K | $0 | $0 |
| Financing Cash Flow | $4.9B+678.5% | $633.9M+699.1% | -$105.8M-67982.4% | -$155K-102.0% | $7.9M+135.3% | -$22.5M0.0% | -$22.5M-100.6% | $4.0B |
| Dividends Paid | N/A | N/A | $0 | $0 | N/A | N/A | $0 | $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.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.7%+1.1pp | 23.7% | N/A | 23.3%+2.3pp | 21.0%-19.0pp | 40.0% | N/A | 42.0% |
| Operating Margin | -1.3%+13.3pp | -14.6% | N/A | 0.9%+9.5pp | -8.6% | -291.1% | N/A | -257.3% |
| Net Margin | -1.7%+11.4pp | -13.1% | N/A | -5.1%-2.0pp | -3.1%-68.3pp | 65.2% | N/A | 131.3% |
| Return on Equity | -0.5%+1.7pp | -2.2% | N/A | -1.4%-0.8pp | -0.6%-0.8pp | 0.2% | N/A | 0.3% |
| Return on Assets | -0.2%+1.1pp | -1.4% | N/A | 0.0%0.0pp | 0.0%0.0pp | 0.0% | N/A | 0.0% |
| Current Ratio | 4.11+0.8x | 3.33-0.2x | 3.58+0.5x | 3.06+0.1x | 3.00-92.2x | 95.23-17.6x | 112.85-145.8x | 258.64 |
| Debt-to-Equity | 0.58+0.3x | 0.300.0x | 0.310.0x | 0.310.0x | 0.31+0.3x | 0.010.0x | 0.000.0x | 0.00 |
| FCF Margin | -7.6%-10.4pp | 2.8% | N/A | 6.7%+16.9pp | -10.2% | 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.
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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 Altman Z-Score?
QXO Inc (QXO) has an Altman Z-Score of 1327.71, 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.