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RXO, Inc. (RXO) stock

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NYSE: RXO NYSE Air Freight & Logistics Next results ~February 5, 2027

C+ Fundamentals grade

RXO, Inc. is a US-listed company in the air freight & logistics industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$10

Valuation models combined (3)

Base case. Range ~$8.1–$18. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

RXO, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders5 buying, 1 selling7 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds158 adding, 111 cuttingOf 45 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter RXO files

10-Q filed October 29: RXO

Model value −40.3%

RXO's revenue reached $6.54bn over the twelve months to September 2026, a 10.1% rise on the prior year and an acceleration from the 9.5% growth recorded a quarter earlier. Among the eleven air freight & logistics companies we cover, that pace ranks second. Free-cash-flow margin, however, stayed negative at -1.1%, showing no improvement despite the stronger top line. The fundamentals grade has nonetheless ticked up, moving from D to C. Our model value tells a different story: it has dropped from $16.21 to $9.68 a share, a steep cut that leaves it well below the current share price of $27.65. Taken together, the figures point to faster growth but a widening gap between the shares and what the underlying business appears worth.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where RXO stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6.09bn, up 9.5% on a year earlier, slower than the 13.1% growth a quarter earlier. Free-cash-flow margin held at -1.2%. The diluted share count is up 6.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our revenue-to-maturity cash-flow model value is $16.21 a share, against a share price of $28.73.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 5, 2027 (estimated)

RXO, Inc.'s trailing-twelve-month revenue grew 10.1% year on year, with a free-cash-flow margin of -1.1%. Where it lags: days sales outstanding of 83 days ranks 14 of 16 air freight & logistics companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 305.6% while net income fell 11.4%: a 294pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 20.7% over 90 days.

Things to watch

  • Loss-making. Operating margin is -0.8%: costs exceed revenue.
  • Burning cash. Free cash flow was -1.1% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 75% and a beta of 1.8 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 83 days ranks 14 of 16 air freight & logistics companies we cover (median 55 days).
  • Heavily shorted. 18.8% of the shares available to trade are sold short (2.8 days of average volume to cover).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.09 against an average estimate of $0.07: beat by 20.0%
Revenue
$1.87bn, up 31.7% on a year earlier
Share reaction
-0.4% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 29, 2026; average EPS estimate $0.09

RXO's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week-3.0%
  • 1 month+19.0%
  • This year+120.1%
  • 1 year+56.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.5B
Operating margin
-0.8%
Net margin
-1.3%
EPS (TTM, diluted)
$-0.52

Growth

Revenue growth
+10.1%
Change in growth rate
+0.6 pts
Share count change
+1.4%

Cash

Free cash flow (TTM)
-$73M
FCF margin
-1.1%
Stock pay % of revenue
0.4%

Earnings

Last results
October 29, 2026
Next results (est.)
February 5, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Announcement
  4. Deal
  5. Announcement
  6. Announcement
  7. Partnership
  8. Announcement
  9. Leadership
  10. Announcement
  11. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

RXO, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value RXO, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.22 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$9.4 ~$6.0–$12 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$8.1 ~$7.9–$10 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.2 ~$0.0–$0.6 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$18 ~$20–$53 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$5.3 ~$3.4–$7.5 Left out: out of range vs price (0.19x)
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$10 ~$8.1–$18 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare RXO, Inc. with Air Freight & Logistics in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2022202320242025Now
Share price$17.20$23.26$23.84$12.64$27.82
Market value$2.0bn$2.8bn$3.2bn$2.1bn$4.7bn
+ Net debt (− = net cash)$357m$354m$333m$387m$471m
Enterprise value$2.3bn$3.1bn$3.5bn$2.5bn$5.2bn
Multiples
Price / sales 0.4x0.7x0.7x0.4x0.7x
Price / earnings 21.6xn/m———
Price / free cash flow 7.9x111.1x———
EV / EBITDA 11.2x29.6x113.3x68.0x92.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

18 /100

Weak moat

How hard RXO's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -2.5% of total assets over 5 years.

  • Durability 10 / 20

    Operating margin has been a median -0.5%; its worst year was -1.0%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 2 of 5 years, at a median -0.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (23 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.14 +449% $7.0bn +22%
Next $0.65 +367% $7.6bn +9%

Next year's EPS estimate has moved +20.7% in 90 days, across 19 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +99.8% on 90 days ago. In the last 30 days, 9 analysts raised RXO, Inc.'s forecast and 0 cut it.

Consensus EPS forecast RXO, Inc., last 90 days
$0.00 $0.20 $0.40 $0.60 $0.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.07 Current fiscal year, 60 days ago: $0.12 Current fiscal year, 30 days ago: $0.13 Current fiscal year, 7 days ago: $0.15 Current fiscal year, Now: $0.14 $0.14 Next fiscal year, 90 days ago: $0.54 Next fiscal year, 60 days ago: $0.61 Next fiscal year, 30 days ago: $0.62 Next fiscal year, 7 days ago: $0.65 Next fiscal year, Now: $0.65 $0.65

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.07$0.54
60 days ago $0.12$0.61
30 days ago $0.13$0.62
7 days ago $0.15$0.65
Now $0.14$0.65

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.07 $0.09 +20.0%
Jun 2026 $0.04 $0.06 +59.6%
Mar 2026 −$0.09 −$0.09 +4.7%
Dec 2025 −$0.04 −$0.07 −68.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

18 analysts, Oct 2026
Buy317%
Hold1583%
Sell00%

Monthly trend

  1. Oct 202621518
  2. Sep 2026251221
  3. Aug 20262511221
  4. Jul 2026512221

Counts of recommendations published by analysts covering RXO, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
18.8%
of tradable shares
Days to cover
2.79
at average volume
Short interest, 1 month
−27%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.8%
of shares
Employees
6,906
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +56.9%

$17.73 on October 31, 2025 to $27.82

ThenNowEffect
Revenue (last 12 months) $5.6bn $6.1bn +9.5%
P/S multiple 0.5x 0.8x +52.4%
Share count 159m 169m −6.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +50.5%

$18.48 on November 3, 2023 to $27.82

ThenNowEffect
Revenue (last 12 months) $4.2bn $6.1bn +43.9%
P/S multiple 0.5x 0.8x +49.9%
Share count 118m 169m −30.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 2023202420252026 to date
Return
RXO+35%+3%−47%+120%
Industry peers (median)+16%−14%−11%−23%
S&P 500+26%+25%+18%+11%
Months that ended higher
RXO58%58%42%73%
S&P 50067%75%75%46%
Largest fall from a high during the year
RXO−27%−27%−61%−35%
S&P 500−10%−8%−19%−9%

Worst fall since October 27, 2022: 67% from July 30, 2024 to November 20, 2025. Getting back needed a 204% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$10.48 – $29.30
From 52-week high
−5.1%
vs 50-day average
+16.6%
vs 200-day average
+31.8%
Volatility (1 year)
75%
Beta vs S&P 500
1.76

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±9.4%
After a week
4 up, 7 down
typical move ±17.5%
After a month
5 up, 6 down
typical move ±18.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −0.4% −2.1% — —
August 6, 2026 +3.3% +0.5% +11.0% −1.6%
May 7, 2026 +10.9% +0.5% −10.8% +43.1%
February 6, 2026 −3.2% +2.4% −18.5% −19.2%
November 6, 2025 −29.1% −1.0% −39.7% −19.9%
August 7, 2025 −5.6% +0.7% −2.4% +10.3%
May 7, 2025 +4.9% +1.1% +24.6% +16.5%
February 5, 2025 −15.0% +0.8% −21.4% −21.6%
November 7, 2024 −6.6% +1.2% −13.8% −10.3%
August 7, 2024 −3.4% +1.6% −7.8% −10.5%
June 24, 2024 +22.8% +0.1% +33.6% +44.6%
May 2, 2024 +7.4% +2.2% +9.1% +7.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

RXO, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) RXO, Inc.
$3B $4B $5B $6B $7B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3.9B Revenue (TTM), FY24 Q1: $3.8B Revenue (TTM), FY24 Q2: $3.8B Revenue (TTM), FY24 Q3: $3.9B Revenue (TTM), FY24 Q4: $4.6B Revenue (TTM), FY25 Q1: $5.1B Revenue (TTM), FY25 Q2: $5.6B Revenue (TTM), FY25 Q3: $5.9B Revenue (TTM), FY25 Q4: $5.7B Revenue (TTM), FY26 Q1: $5.7B Revenue (TTM), FY26 Q2: $6.1B Revenue (TTM), FY26 Q3: $6.5B $6.5B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3.9B
FY24 Q1 $3.8B
FY24 Q2 $3.8B
FY24 Q3 $3.9B
FY24 Q4 $4.6B
FY25 Q1 $5.1B
FY25 Q2 $5.6B
FY25 Q3 $5.9B
FY25 Q4 $5.7B
FY26 Q1 $5.7B
FY26 Q2 $6.1B
FY26 Q3 $6.5B
Revenue growth, TTM YoY RXO, Inc.
-20% 0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -18.1% Revenue growth, TTM YoY, FY24 Q1: -14.8% Revenue growth, TTM YoY, FY24 Q2: -10.3% Revenue growth, TTM YoY, FY24 Q3: -5.1% Revenue growth, TTM YoY, FY24 Q4: 15.9% Revenue growth, TTM YoY, FY25 Q1: 32.4% Revenue growth, TTM YoY, FY25 Q2: 46.4% Revenue growth, TTM YoY, FY25 Q3: 53.8% Revenue growth, TTM YoY, FY25 Q4: 26.2% Revenue growth, TTM YoY, FY26 Q1: 13.1% Revenue growth, TTM YoY, FY26 Q2: 9.5% Revenue growth, TTM YoY, FY26 Q3: 10.1% 10.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -18.1%
FY24 Q1 -14.8%
FY24 Q2 -10.3%
FY24 Q3 -5.1%
FY24 Q4 15.9%
FY25 Q1 32.4%
FY25 Q2 46.4%
FY25 Q3 53.8%
FY25 Q4 26.2%
FY26 Q1 13.1%
FY26 Q2 9.5%
FY26 Q3 10.1%
Operating margin (TTM) RXO, Inc.
-2% -1% 0% 1% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 1.0% Operating margin (TTM), FY24 Q1: 0.6% Operating margin (TTM), FY24 Q2: 0.2% Operating margin (TTM), FY24 Q3: -0.5% Operating margin (TTM), FY24 Q4: -1.2% Operating margin (TTM), FY25 Q1: -1.5% Operating margin (TTM), FY25 Q2: -1.3% Operating margin (TTM), FY25 Q3: -1.0% Operating margin (TTM), FY25 Q4: -1.4% Operating margin (TTM), FY26 Q1: -1.3% Operating margin (TTM), FY26 Q2: -1.2% Operating margin (TTM), FY26 Q3: -0.8% -0.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 1.0%
FY24 Q1 0.6%
FY24 Q2 0.2%
FY24 Q3 -0.5%
FY24 Q4 -1.2%
FY25 Q1 -1.5%
FY25 Q2 -1.3%
FY25 Q3 -1.0%
FY25 Q4 -1.4%
FY26 Q1 -1.3%
FY26 Q2 -1.2%
FY26 Q3 -0.8%
FCF margin (TTM) RXO, Inc.
-2% -1% 0% 1% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 0.6% FCF margin (TTM), FY24 Q1: -0.2% FCF margin (TTM), FY24 Q2: -0.9% FCF margin (TTM), FY24 Q3: -1.0% FCF margin (TTM), FY24 Q4: -1.3% FCF margin (TTM), FY25 Q1: -1.4% FCF margin (TTM), FY25 Q2: -0.8% FCF margin (TTM), FY25 Q3: -0.3% FCF margin (TTM), FY25 Q4: -0.1% FCF margin (TTM), FY26 Q1: -0.3% FCF margin (TTM), FY26 Q2: -1.2% FCF margin (TTM), FY26 Q3: -1.1% -1.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 0.6%
FY24 Q1 -0.2%
FY24 Q2 -0.9%
FY24 Q3 -1.0%
FY24 Q4 -1.3%
FY25 Q1 -1.4%
FY25 Q2 -0.8%
FY25 Q3 -0.3%
FY25 Q4 -0.1%
FY26 Q1 -0.3%
FY26 Q2 -1.2%
FY26 Q3 -1.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 3,357 4,689 4,796 3,927 4,550 5,742 6,539
EBITDA 136 273 209 106 31 37 56
Operating income 60 192 123 39 −56 −79 −52
Net income 43 150 92 4 −290 −100 −88
Diluted EPS $0.37 $1.30 $0.79 $0.03 −$2.17 −$0.59 −$0.52
Growth (year on year)
Revenue — +39.7% +2.3% −18.1% +15.9% +26.2% +10.1%
EBITDA — +100.7% −23.4% −49.3% −70.8% — —
Operating income — — −35.9% −68.3% — — —
Net income — — −38.7% — — — —
Diluted EPS — — −39.2% — — — —
Margins
EBITDA margin 4.1% 5.8% 4.4% 2.7% 0.7% 0.6% 0.9%
Operating margin 1.8% 4.1% 2.6% 1.0% −1.2% −1.4% −0.8%
Net margin 1.3% 3.2% 1.9% 0.1% −6.4% −1.7% −1.3%
Free-cash-flow margin −0.7% 2.5% 5.3% 0.6% −1.3% −0.1% −1.1%
Cash flow
Cash from operations 25 155 310 89 −12 51 −15
Capital spending 47 39 57 64 45 59 58
Free cash flow −22 116 253 25 −57 −8 −73
Stock-based pay 8 8 32 19 23 29 28
Free cash flow after stock pay −30 108 221 6 −80 −37 −101
Balance sheet
Cash 70 29 98 5 35 17 25
Total debt 0 0 455 359 368 404 496
Net debt (negative = net cash) −70 −29 357 354 333 387 471
Diluted shares 115m 115m 116m 119m 133m 168m 170m
Returned to shareholders
Buybacks — 0 0 2 0 0 —
Total returned — 0 0 2 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · September 30, 2026
What it owns · $3.5bn
Short-term assets $1.6bnLonger-term assets $1.9bn
What it owes, and who funded it · $2.8bn
Short-term liabilities $1.3bnShareholders' equity $1.5bn
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $1.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $25m of cash against $496m of debt.
  • Debt below 40% of shareholders' equity Debt is 33% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 33% over five years.
  • A year's operating cash flow covers at least 20% of debt −$15m of operating cash flow against $496m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From RXO, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$2M
Diluted share count
+1.4%
year over year
Sales & admin spending
12.7%
of revenue
Days sales outstanding
83 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in air freight & logistics
Last 12 months unless stated RXO ZTO EXPD GXO FWRD CHRW Median
Revenue, last 12 months $6.5bn $6.8bn $12.0bn $13.6bn $2.5bn $18.2bn $555m
Revenue growth, last 12 months 10.1% 11.0% 6.8% 7.6% −0.1% 10.4% 6.4%
Revenue growth, 3-year average 17.1% — −1.6% 12.9% 18.1% −0.4% 2.5%
Revenue growth, latest quarter 31.7% — 32.1% 4.3% 8.8% 29.5% 15.2%
Gross margin — 25.0% 30.4% — 51.8% — 10.9%
Operating margin −0.8% 21.3% 9.8% 2.4% −6.7% 4.9% −0.8%
Operating margin, 3-year average −0.8% 22.7% 9.7% 2.1% −21.1% 4.3% 2.0%
Net margin −1.3% 18.5% 7.6% 1.0% −11.4% 3.7% 1.0%
Cash from operations / revenue −0.2% 24.4% 8.1% 3.7% 2.8% 2.9% 1.0%
Free-cash-flow margin −1.1% 12.0% 7.7% 1.3% 1.9% 2.9% 1.0%
Free-cash-flow margin, 3-year average −0.8% 3.7% 7.5% 1.8% −0.3% 3.2% 1.5%
Stock pay / revenue 0.4% 0.5% 0.6% 0.3% 0.4% 0.5% 0.5%
Change in share count 1.4% −2.1% −3.7% −2.4% 7.2% −1.1% 0.8%

Median of all 21 companies we cover in air freight & logistics. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 air freight & logistics companies
Measure Company Peer median Rank
Revenue growth Growth 10.1% 6.4% 6 of 21
Change in growth rate Growth +0.6pp +2.4pp 12 of 21
Operating margin Profitability -0.8% -0.8% 11 of 21
Net margin Profitability -1.3% 1.0% 12 of 21
Free-cash-flow margin Cash generation -1.1% 1.0% 12 of 21
Stock pay as % of revenue Cash generation 0.4% 0.5% 8 of 18
Long-term debt as % of assets Balance sheet 13.2% 16.8% 7 of 15
Change in share count Balance sheet 1.4% 0.9% 12 of 20
Days sales outstanding Balance sheet 83 days 55 days 14 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Truck Brokerage $4.2B 73.6% ▲ 39.5%
Last Mile $1.2B 20.8% ▲ 13.4%
Managed Transportation $549M 9.6% ▼ 8.5%
Product and Service Eliminations -$228M -4.0% —

From RXO, Inc.'s 10-K filed February 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.9B
Institutions reporting
302
Shares held vs prior quarter
▼ 1.3%
Positions opened / closed
56 / 30

Top buyers and sellers, Q2 2026: 158 institutions bought and 111 sold ; the biggest buyer was Maple Rock Capital Partners Inc (+2.6M shares) and the biggest seller Finepoint Capital LP (−4.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Orbis Allan Gray Ltd $1B 36.4M 20.5% 0.0%
Mfn Partners Management, LP $776M 28.1M 15.8% 0.0%
Blackrock, Inc. $693M 25.1M 14.1% ▲ 4.0%
Vanguard Portfolio Management LLC $256M 9.3M 5.2% ▲ 2.8%
Vanguard Capital Management LLC $205M 7.4M 4.2% ▲ 0.8%
State Street Corp $184M 6.7M 3.7% ▲ 1.4%
Hood River Capital Management LLC $179M 6.5M 3.6% ▲ 45.5%
Finepoint Capital LP $148M 5.4M 3.0% ▼ 46.8%
Geode Capital Management, LLC $118M 4.3M 2.4% ▲ 7.1%
Fil Ltd $72.4M 2.6M 1.5% ▼ 59.9%
Charles Schwab Investment Management Inc $72.1M 2.6M 1.5% ▲ 0.3%
Maple Rock Capital Partners Inc. $71.3M 2.6M 1.5% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not RXO, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $7.1M 7 trades by 5 insiders, last 12 months Insider sales History → $385,779 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $6.7M net buying
Insider Date Trade Shares Price Value
Mfn Partners Gp, Llc 10% owner February 12, 2026 Buy 532,276 $12.00 $6.4M
Cooper Troy A. Director November 20, 2025 Buy 8,317 $10.61 $88,243
Kingshott Adrian Director November 17, 2025 Buy 9,350 $10.75 $100,512
Kingshott Adrian Director November 17, 2025 Buy 9,350 $10.75 $100,512
Wilkerson Andrew M. Chief Executive Officer November 10, 2025 Buy 3,850 $12.80 $49,280
Wilkerson Andrew M. Chief Executive Officer November 10, 2025 Buy 7,775 $12.88 $100,142
Kerr Jason S. Chief Accounting Officer November 10, 2025 Sell 33,343 $11.57 $385,779
Szlosek Thomas A Director November 7, 2025 Buy 20,308 $12.37 $251,210

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 5, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • August 6, 2026
  • May 7, 2026
  • February 6, 2026
  • November 6, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on RXO, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

RXO, Inc. in brief

What does RXO, Inc. do?
RXO, Inc. is a US-listed company in the air freight & logistics industry. Its financial year ends in December.
What is RXO, Inc.'s stock ticker?
RXO, Inc. trades under the ticker RXO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is RXO, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, RXO, Inc. reported revenue of $6.5B, 10.1% higher than a year earlier, according to its SEC filings.
What is RXO, Inc.'s free cash flow?
RXO, Inc.'s free-cash-flow margin is -1.1% of revenue over the trailing twelve months, ranking 12 of the 21 air freight & logistics companies we cover.
Who are RXO, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Orbis Allan Gray Ltd, Mfn Partners Management, LP and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is RXO, Inc.'s market cap?
On November 2, 2026, RXO, Inc.'s market capitalisation was about $4.7B and net debt of $471M. Market figures come from third-party market data and may be delayed.
How much debt does RXO, Inc. have?
RXO, Inc.'s debt-to-equity ratio is 32.7%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are RXO, Inc.'s competitors?
In our Air Freight & Logistics peer group, the companies closest to RXO, Inc. are ZTO Express (cayman) Inc., Expeditors International, GXO Logistics, Inc., Forward AIR Corp and C.H. Robinson. The side-by-side comparison below sets their revenue, margins and growth against RXO, Inc.'s.
Are insiders buying or selling RXO, Inc. stock?
Over the last 12 months, RXO, Inc.'s directors and officers reported 7 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is RXO, Inc.'s next earnings date?
Around February 5, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — RXO, Inc. announces its own schedule.