XPO, Inc.XPO
NYSE•Industrials•Trucking
XPO, Inc., together with its subsidiaries, provides freight transportation services in the United States, North America, France, the United Kingdom, and rest of Europe. The company operates in two segments, North American Less-Than-Truckload (LTL) and European Transportation. The North American LTL segment provides shippers with geographic density and day-definite domestic and cross-border services to the U.S., Mexico, Canada, and the Caribbean. The European Transportation segment offers dedicated truckload, LTL, truck brokerage, managed transportation, last mile, freight forwarding, and warehousing and multimodal solutions to an extensive base of customers within the consumer, trade, and industrial markets. The company was formerly known as XPO Logistics, Inc. and changed its name to XPO, Inc. in December 2022. The company was founded in 1989 and is based in Greenwich, Connecticut.
XPO, Inc. (XPO) reported trailing twelve months revenue of $8.30B as of March 2026, a 3.6% increase year-over-year. Quarterly revenue reached $2.10B, reflecting continued top-line momentum.
XPO, Inc. generated $348.00M in TTM net income, with quarterly EBITDA of $305.00M. The operating margin expanded from 7.7% to 8.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (8.3%) and net margin (4.8%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 3.5% a year ago, signaling stronger bottom-line efficiency.
XPO trades at a P/E of 62.7x (a premium multiple) and a P/S of 2.6x. The price-to-book ratio of 11.8x indicates a significant premium over book value.
The company generated $72.00M in free cash flow over the trailing twelve months, a 226.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $8.18B in total assets with $3.17B in long-term debt against $1.85B in stockholders equity for a debt-to-equity ratio of 1.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~8.3% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 21.0% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~8.2% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation