GXO Logistics, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data GXO Logistics, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	6,094	6,195	7,940	8,993	9,778	11,709	13,178
Selling, general and administrative	514	611	714	886	998	1,061	1,106
Operating income	150	16	151	242	318	218	245
Interest expense	33	24	21	29	53	103	133
Other non-operating income				51	1	31	-8
Pre-tax income	118	-6	153	264	266	146	104
Income tax	37	16	-8	64	33	8	68
Net income to minority interests	21	9	8	3	4	4	4
Net income	60	-31	153	197	229	134	32
EBITDA	452	339	486	571	679	633	702
EPS, basic	0.52	-0.27	1.33	1.68	1.93	1.12	0.28
EPS, diluted	0.52	-0.27	1.32	1.67	1.92	1.12	0.28
Shares, basic (weighted)	115	115	115	117	119	119	116
Shares, diluted (weighted)	115	115	116	118	119	120	116

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	200	328	333	495	468	413	854
Receivables		1,224	1,507	1,647	1,753	1,799	2,028
Other current assets		284	259	286	347	429	406
Total current assets		1,836	2,099	2,428	2,568	2,641	3,288
Property, plant and equipment		770	863	960	953	1,160	1,151
Lease right-of-use assets		1,434	1,772	2,227	2,201	2,329	2,563
Goodwill	1,984	2,063	2,017	2,728	2,891	3,549	3,781
Intangible assets		299	257	570	567	986	909
Other non-current assets		146	263	306	327	601	570
Total assets		6,548	7,271	9,219	9,507	11,266	12,262
Accounts payable		415	624	717	709	776	758
Accrued liabilities		784	998	995	966	1,271	1,492
Deferred revenue				154	210	272	279
Short-term debt		58	34	67	27	110	446
Total current liabilities		1,738	2,329	2,532	2,626	3,189	3,875
Long-term debt		615	927	1,739	1,620	2,521	2,619
Lease liabilities		1,099	1,391	1,853	1,842	1,898	2,044
Other non-current liabilities		148	234	417	473	623	709
Total liabilities		3,600	4,881	6,541	6,561	8,231	9,247
Total debt		673	961	1,739	1,647	2,631	3,065
Paid-in capital		0	2,354	2,575	2,598	2,629	2,667
Retained earnings		0	126	323	552	686	718
Treasury stock						0	-202
Other comprehensive income		58	-130	-254	-239	-313	-201
Shareholders' equity		2,823	2,351	2,645	2,912	3,003	2,983
Minority interests		125	39	33	34	32	32
Total equity	2,697	2,948	2,390	2,678	2,946	3,035	3,015
Total liabilities and equity		6,548	7,271	9,219	9,507	11,266	12,262
Shares outstanding		115	115	119	119	119	115

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	81	-22	161	200	233	138	36
Depreciation and amortization	302	323	335	329	361	415	457
Stock-based compensation	23	25	28	33	35	39	47
Deferred income tax	-2	-26	-48	-7	-41	-38	-29
Change in receivables	-173	-122	-243	-71	-17	118	-88
Change in payables	-41	-13	114	45	-3	23	-61
Cash from operations	145	333	455	542	558	549	434
Capital expenditures	-222	-222	-250	-342	-274	-359	-324
Acquisitions	0	-30	32	-876	-149	-863	0
Cash from investing	-147	-280	-207	-1,149	-410	-1,157	-196
Debt issued	0	0	794	917	0	1,096	577
Debt repaid			-47	-82	-122	-286	-180
Share buybacks					0	0	-200
Cash from financing	-102	67	-241	787	-186	636	111
Exchange rate effect	3	8	-2	-18	13	-13	23
Net change in cash	-101	128	5	162	-25	15	372
Free cash flow	-77	111	205	200	284	190	110
Interest paid	29	32	22	34	57	97	128
Income taxes paid	40	27	75	111	84	43	59

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $45.20 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	2.4%	Operating income / revenue.
EBITDA margin	5.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.6%	Pre-tax income / revenue.
Net margin	1.0%	Net income / revenue.
FCF margin	1.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	3.7%	Cash from operations / revenue.
Effective tax rate	38.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.
Return on invested capital (ROIC)	3.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	8.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.4%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	13.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	12.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	0.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	72.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	10.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	7.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	15.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-76.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-45.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-75.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-44.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-7.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-42.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-18.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-0.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	13.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.79x	Current assets / current liabilities.
Quick ratio	0.69x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.19x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.07x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	25.9%	Total debt / total assets.
Liabilities / assets	75.6%	Total liabilities / total assets.
Net debt	$2.43B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.05x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.48x	Operating income / interest expense.
Working capital	-$868.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	36.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.58B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.10x	Revenue / average total assets.
Fixed asset turnover	10.8x	Revenue / average property, plant and equipment.
Receivables turnover	6.59x	Revenue / average receivables.
Days sales outstanding	55 days	365 x average receivables / revenue.
FCF conversion	137.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	64.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$117.88	Revenue / diluted weighted shares.
FCF per share	$1.56	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.40	Cash from operations / diluted weighted shares.
Book value per share	$26.03	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$13.76	Tangible book value / shares outstanding.
Cash per share	$6.70	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	10.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.18B	Share price x shares outstanding.
Enterprise value	$7.62B	Market cap + total debt - cash - short-term investments.
P/E	39.6x	Market cap / net income. Only when net income is positive.
P/S	0.38x	Market cap / revenue.
P/B	1.74x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	28.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.2x	Market cap / cash from operations, when positive.
EV/Sales	0.56x	Enterprise value / revenue.
EV/EBIT	23.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.55x	Enterprise value / EBITDA, when both are positive.
EV/FCF	42.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.5%	Free cash flow / market cap.
Earnings yield	2.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.3%	(Dividends paid + share buybacks) / market cap.

What was GXO Logistics, Inc.'s revenue in fiscal 2025?

GXO Logistics, Inc. reported revenue of $13.18B for fiscal 2025, 12.5% higher than the year before.

Was GXO Logistics, Inc. profitable in fiscal 2025?

Yes. Net income was $32.0M, a net margin of 0.2%.

How much free cash flow did GXO Logistics, Inc. generate in fiscal 2025?

Cash from operations of $434.0M minus capital expenditures of $324.0M left free cash flow of $110.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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