XPO Financials Xpo, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 1, 2026, 10:32 UTC Overview →

Growth & profitability

Revenue has grown 5.7% per year over the past 5 years.
Net income has grown faster than revenue (23.5% vs 5.7% per year).
Operating margin has expanded, at 8.0% in the latest year.
Free cash flow has grown 47.6% per year over the past 5 years.

Financial health

Total debt ($3.3B) exceeds cash ($310M); net debt is $2.9B.
Total debt has grown slower than revenue (-9.1% vs 5.7% per year).
Operating income covered interest expense 3.0× in the latest year.
Total debt is 2.9× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$8.2B	$316M	0.0%	8.0%	17.0%	3.9%	$329M	$3.3B	$310M
2024	$8.1B	$387M	0.0%	8.2%	24.2%	5.0%	$19M	$3.3B	$246M
2023	$7.7B	$189M	0.0%	5.7%	14.9%	2.5%	-$839M	$3.3B	$412M
2022	$7.7B	$666M	0.0%	4.9%	65.8%	10.6%	$303M	$2.5B	$460M
2021	$7.2B	$336M	0.0%	4.3%	29.5%	3.9%	$221M	$3.5B	$228M
2020	$6.2B	$110M	-27.3%	1.6%	3.9%	0.7%	$47M	$5.2B	$1.7B
2019	$10.7B	$419M	22.3%	5.3%	15.3%	3.0%	—	$5.2B	$377M
2018	$17.3B	$422M	47.8%	4.1%	11.8%	3.4%	—	$3.9B	$502M
2017	$15.4B	$340M	47.1%	3.8%	9.4%	2.7%	—	$4.7B	$397M
2016	$14.6B	$69M	46.0%	3.2%	2.6%	0.6%	—	$5.0B	$373M
2015	—	-$191M	—	—	-7.0%	-1.5%	—	$5.6B	$290M
2014	—	-$64M	—	—	-3.8%	-2.3%	—	$609M	$644M
2013	—	-$49M	—	—	-10.6%	-6.2%	—	$211M	$22M
2012	—	-$20M	—	—	-8.3%	-4.9%	—	$145M	$252M
2011	—	$759000	—	—	0.7%	0.6%	—	—	$74M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$2.4B	$181M	0.0%	12.1%	9.2%	2.2%	$284M	$3.0B	$260M
Jun '26	$2.4B	$162M	0.0%	11.5%	8.3%	1.9%	$181M	$3.0B	$298M
Mar '26	$2.1B	$101M	0.0%	8.3%	5.5%	1.2%	$72M	$3.2B	$237M
Dec '25	$2.0B	$59M	0.0%	7.1%	3.2%	0.7%	—	$3.3B	$310M
Sep '25	$2.1B	$82M	0.0%	7.8%	4.5%	1.0%	$215M	$3.2B	$335M
Jun '25	$2.1B	$106M	0.0%	9.5%	6.0%	1.3%	$51M	$3.3B	$225M
Mar '25	$2.0B	$69M	0.0%	7.7%	4.2%	0.9%	-$57M	$3.3B	$212M
Dec '24	$1.9B	$75M	0.0%	7.8%	4.7%	1.0%	—	$3.3B	$246M
Sep '24	$2.1B	$95M	0.0%	8.6%	5.8%	1.2%	$137M	$3.3B	$378M
Jun '24	$2.1B	$150M	0.0%	9.5%	10.0%	1.9%	$20M	$3.3B	$250M
Mar '24	$2.0B	$67M	0.0%	6.8%	5.0%	0.9%	-$161M	$3.3B	$229M
Dec '23	$1.9B	$58M	0.0%	6.1%	4.6%	0.8%	—	$3.3B	$412M
Sep '23	$2.0B	$84M	0.0%	7.8%	7.0%	1.3%	—	$2.4B	$355M
Jun '23	$1.9B	$33M	0.0%	5.6%	2.9%	0.5%	—	$2.5B	$290M
Mar '23	$1.9B	$14M	0.0%	3.0%	1.3%	0.2%	—	$2.5B	$309M
Dec '22	$1.8B	-$94M	0.0%	0.2%	-9.3%	-1.5%	—	$2.5B	$460M
Sep '22	$1.9B	$131M	0.0%	7.1%	7.3%	1.5%	—	$2.8B	$544M
Jun '22	$2.0B	$141M	0.0%	8.4%	8.3%	1.6%	—	$2.9B	$436M
Mar '22	$1.9B	$488M	0.0%	3.3%	30.5%	5.2%	$77M	$2.9B	$1.0B
Dec '21	$1.8B	$122M	0.0%	3.7%	10.7%	1.4%	$41M	$3.5B	$228M

Valuation over time

How the market has priced XPO against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 5.6× (Mar '23) to 70.7× (Nov '26).
The price-to-sales ratio has risen from 0.5× (Mar '23) to 2.7× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is XPO growing its revenue and profit?

Over the past 5 years, Xpo, Inc.'s revenue has grown 5.7% per year, and net income grown 23.5% per year. These are computed facts, not advice.

How much debt does XPO have?

As of FY2025, Xpo, Inc. reported $3.3B of total debt against $310M of cash; operating income covered interest expense 3.0×.

What is XPO's profit margin?

In FY2025, gross margin was —, operating margin 8.0%, and net margin 3.9%.

What is XPO's P/E ratio?

Xpo, Inc.'s P/E (TTM) is 44.44 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the XPO stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 70.7× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.