RXO Industrials

RXO, Inc.

$28.24+1.51%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Trucking
Country: United States
Market cap: 4.7B USD
Enterprise value: 5.2B USD
Full-time employees: 6,906

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.99 vs a peer median of 0.64) and less short-term liquidity (current ratio 1.27 vs a peer median of 1.62)higher risk: bigger price swings (beta 1.99 vs peers 0.64) and less liquidity (current ratio 1.27 vs peers 1.62)

Ranks #1,992 of 2,308 industrials companies (bottom 14%)

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out $2M over the 3 fiscal years to 2025 with -$40M of free cash flow.
RXO returned $2M in buybacks and dividends over three fiscal years while its free cash flow totalled -$40M. The money came from its cash pile or from borrowing.
Shareholders being diluted. Shares outstanding up 42% from December 2022 to August 2026.
RXO had 42% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.RXO had 42% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay outran buybacks. Stock-based pay expense $71M vs $2M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years RXO recorded $71M of stock-based pay expense and spent $2M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years RXO recorded $71M of stock-based pay expense and spent $2M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Not profitable yet. Reported a loss in the 12 months to June 2026.
RXO reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

28/ 100

Oct 5 28 → Nov 4 28

Valuation

Is the price right?

13/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-2.3%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield0.6%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.50Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-1.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield32.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

71/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 6.2%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.28Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth12.9%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.39Sector median: 0.0421 · MAD: 0.0625

Revenue growth9.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.67Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

11/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-1.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.77Sector median: 0.0773 · MAD: 0.0507

Return on assets-3.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.55Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-3.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.82Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin14.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-7.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.99

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.49Sector median: 0.6440 · MAD: 0.2745

Current ratio1.27×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.65Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.33×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.22Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about RXO

Is RXO getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 28/100 since Oct 28, 2026.
How is RXO valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 13/100 against 2,459 industrials peers. Earnings yield -2.3% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -2.3% vs peers 3.8% (weaker than 100% of peers).
Is RXO growing?: Yes, faster than most of its peers. Growth scores 71/100 against 2,459 industrials peers. 3-year revenue growth 12.9% vs a peer median of 4.2% (stronger than 79% of peers).3-year revenue growth 12.9% vs peers 4.2% (stronger than 79% of peers).
How profitable is RXO?: Less profitable than most of its peers. Profitability scores 11/100 against 2,459 industrials peers. Return on assets -3.0% vs a peer median of 3.1% (weaker than 92% of peers).Return on assets -3.0% vs peers 3.1% (weaker than 92% of peers).
How risky is RXO?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.99 vs a peer median of 0.64 (weaker than 100% of peers).Beta 1.99 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Worth watching: RXO is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	5.7B USD	6.1B USD	+6.2%
Net income (12 months)	−105.0M USD	−105.0M USD	0.0%
Operating margin	-1.3%	-1.2%	+0.1 pts
Free cash flow (12 months)	−15.0M USD	−76.0M USD	+406.7%
Debt	447.0M USD	495.0M USD	+10.7%
Cash	21.0M USD	15.0M USD	−28.6%
Shares outstanding	164.9M	164.9M	+0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Trucking companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	4.1%	2.6%	1.0%	-1.2%	-1.4%	▼ 0.1 pts
Net margin	3.2%	1.9%	0.1%	-6.4%	-1.7%	▲ 4.6 pts
Return on assets (ROA)	7.3%	4.5%	0.2%	-8.5%	-3.1%	▲ 5.4 pts
Return on equity (ROE)	14.0%	15.7%	0.7%	-18.0%	-6.5%	▲ 12 pts
Free cash flow margin	2.5%	5.3%	0.6%	-1.3%	-0.1%	▲ 1.1 pts
Current ratio	1.33×	1.25×	1.17×	1.26×	1.27×	▲ 0.9%
Debt to equity	0.00×	0.78×	0.60×	0.23×	0.26×	▲ 15%

RXO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.99 vs a peer median of 0.64) and less short-term liquidity (current ratio 1.27 vs a peer median of 1.62)higher risk: bigger price swings (beta 1.99 vs peers 0.64) and less liquidity (current ratio 1.27 vs peers 1.62)

Ranks #1,992 of 2,308 industrials companies (bottom 14%)

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out $2M over the 3 fiscal years to 2025 with -$40M of free cash flow.

RXO returned $2M in buybacks and dividends over three fiscal years while its free cash flow totalled -$40M. The money came from its cash pile or from borrowing.

Shareholders being diluted. Shares outstanding up 42% from December 2022 to August 2026.

RXO had 42% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.RXO had 42% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock pay outran buybacks. Stock-based pay expense $71M vs $2M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years RXO recorded $71M of stock-based pay expense and spent $2M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years RXO recorded $71M of stock-based pay expense and spent $2M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Not profitable yet. Reported a loss in the 12 months to June 2026.

RXO reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about RXO

Is RXO getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 28/100 since Oct 28, 2026.

How is RXO valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 13/100 against 2,459 industrials peers. Earnings yield -2.3% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -2.3% vs peers 3.8% (weaker than 100% of peers).

Is RXO growing?

Yes, faster than most of its peers. Growth scores 71/100 against 2,459 industrials peers. 3-year revenue growth 12.9% vs a peer median of 4.2% (stronger than 79% of peers).3-year revenue growth 12.9% vs peers 4.2% (stronger than 79% of peers).

How profitable is RXO?

Less profitable than most of its peers. Profitability scores 11/100 against 2,459 industrials peers. Return on assets -3.0% vs a peer median of 3.1% (weaker than 92% of peers).Return on assets -3.0% vs peers 3.1% (weaker than 92% of peers).

How risky is RXO?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 1.99 vs a peer median of 0.64 (weaker than 100% of peers).Beta 1.99 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

5.7B USD

6.1B USD

+6.2%

Net income (12 months)

−105.0M USD

−105.0M USD

0.0%

Operating margin

-1.3%

-1.2%

+0.1 pts

Free cash flow (12 months)

−15.0M USD

−76.0M USD

+406.7%

Debt

447.0M USD

495.0M USD

+10.7%

Cash

21.0M USD

15.0M USD

−28.6%

Shares outstanding

164.9M

164.9M

+0.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

4.1%

2.6%

1.0%

-1.2%

-1.4%

▼ 0.1 pts

Net margin

3.2%

1.9%

0.1%

-6.4%

-1.7%

▲ 4.6 pts

Return on assets (ROA)

7.3%

4.5%

0.2%

-8.5%

-3.1%

▲ 5.4 pts

Return on equity (ROE)

14.0%

15.7%

0.7%

-18.0%

-6.5%

▲ 12 pts

Free cash flow margin

2.5%

5.3%

0.6%

-1.3%

-0.1%

▲ 1.1 pts

Current ratio

1.33×

1.25×

1.17×

1.26×

1.27×

▲ 0.9%

Debt to equity

0.00×

0.78×

0.60×

0.23×

0.26×

▲ 15%