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RXO

RXO, Inc.

RXO

RXO, Inc. • NYSE
$13.22 ▲ 1.61% (+0.21)
Market Cap $2.17 B
52w High $30.40
52w Low $10.43
Dividend Yield 0%
P/E -38.88
Volume 606.22K
Outstanding Shares 164.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.421B ▲ $243M ▲ $-14M ▼ -0.985% ▼ $-0.08 ▼ $20M ▼
Q2-2025 $1.419B ▼ $214M ▼ $-9M ▲ -0.634% ▲ $-0.053 ▲ $40M ▲
Q1-2025 $1.433B ▼ $262M ▼ $-31M ▼ -2.163% ▼ $-0.18 ▼ $22M ▼
Q4-2024 $1.667B ▲ $284M ▲ $-25M ▲ -1.5% ▲ $-0.12 ▲ $42M ▲
Q3-2024 $1.04B $202M $-243M -23.365% $-1.81 $33M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25M ▲ $3.201B $1.621B ▲ $1.58B ▼
Q2-2025 $18M ▲ $3.201B ▼ $1.613B ▼ $1.588B ▲
Q1-2025 $16M ▼ $3.304B ▼ $1.717B ▼ $1.587B ▼
Q4-2024 $35M ▼ $3.414B ▲ $1.802B ▲ $1.612B ▼
Q3-2024 $55M $3.392B $1.74B $1.652B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-14M ▼ $23M $-13M ▲ $-3M $7M ▲ $9M
Q2-2025 $-9M ▲ $23M ▲ $-18M ▲ $-3M ▼ $3M ▲ $9M ▲
Q1-2025 $-31M ▼ $-2M ▲ $-25M ▼ $7M ▲ $-19M ▲ $-17M ▲
Q4-2024 $-20M ▲ $-7M $-12M ▲ $1M ▼ $-20M ▼ $-19M ▼
Q3-2024 $-243M $-7M $-1.03B $1.085B $48M $-18M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Last Mile
Last Mile
 $560.00M ▲$280.00M ▼$320.00M ▲$300.00M ▼
Truck Brokerage
Truck Brokerage
 $1.81Bn ▲$1.07Bn ▼$1.02Bn ▼$1.04Bn ▲

Five-Year Company Overview

Income Statement

Income Statement RXO’s revenue has been fairly large and has grown again recently after a softer year, helped by the Coyote acquisition and a broader network. However, profitability has weakened. Margins are much thinner than a couple of years ago, and the most recent year shows a loss instead of a profit, with operating earnings and EBITDA turning negative. This tells you the company is in a scale‑up and integration phase where growth and technology spending, plus a still‑tough freight market, are weighing on earnings. The business can clearly generate significant sales, but converting those sales into steady profits is still a work in progress.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, with total assets and equity both stepping up after the spin‑off and especially after acquiring Coyote. Debt has also increased, so leverage is higher than in the early years, but there is still a reasonable equity cushion. Cash on hand is quite lean, which places more importance on consistent cash generation and access to credit. Overall, RXO has bulked up in size and capabilities, but now needs to show that the larger platform can comfortably service the higher debt load and support future investments without stretching liquidity.

Cash Flow

Cash Flow Historically, RXO has produced modestly positive cash from operations with relatively light spending needs for equipment and systems, reflecting its asset‑light model. In the most recent year, operating cash flow and free cash flow slipped slightly negative, which mirrors the income‑statement loss and integration costs. Capital spending remains disciplined and not excessive. The cash‑flow story is that of a business that can be cash‑generative in normal conditions but is currently under pressure from weaker freight markets and transformation efforts. A key watchpoint is how quickly cash flow bounces back as synergies from Coyote and technology investments show through.

Competitive Edge

Competitive Edge RXO operates in a tough, commoditized industry, but it competes as a tech‑driven freight broker rather than a traditional trucking fleet owner. Its proprietary RXO Connect platform, carrier app, and AI‑driven pricing and matching tools help create a stickier ecosystem for shippers and carriers. The Coyote acquisition greatly increases scale and data, which can deepen these network effects. Diversification across truckload brokerage, managed transportation, last‑mile services, and forwarding adds resilience and more ways to serve customers. On the risk side, competition from other large brokers and digital players is intense, pricing power can be limited in down markets, and integration missteps could dilute the advantages of the larger network.

Innovation and R&D

Innovation and R&D Innovation is central to RXO’s strategy. The company emphasizes software platforms, mobile tools for carriers, AI‑based load matching and pricing, and automation of tasks like truck check‑ins and last‑mile verification. Integrating Coyote’s technology into RXO Connect should create a more powerful combined system with richer data and better forecasting capabilities. RXO is also experimenting with on‑demand warehousing and more advanced analytics, and it highlights sustainability benefits from cutting empty miles. The main opportunity is to turn these digital capabilities into clear cost, speed, and reliability advantages; the main risk is execution—delays or missteps in integration or product rollout could blunt the payoff from these investments.

Summary

RXO is a relatively new public company building a large, tech‑enabled logistics platform in a cyclical and competitive industry. It has grown revenue again after a softer period and significantly increased its scale and capabilities through the Coyote deal, but this has come with thinner margins, a recent net loss, and higher leverage. The asset‑light model keeps capital needs manageable and should allow flexibility over the cycle, yet the latest year’s negative cash flow shows that the business is not immune to market downturns or integration costs. RXO’s long‑term potential rests on converting its technology, data, and expanded network into durable efficiency gains and better pricing, while managing debt and integration risk carefully in a still‑volatile freight environment.

NEWS

November 20, 2025 · 8:30 AM UTC

RXO's Latest Curve Freight Market Forecast Shows Third-Consecutive Quarter of Decelerating Spot Rate Growth

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November 17, 2025 · 8:30 AM UTC

RXO Announces Participation at Upcoming Investor Conferences

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November 6, 2025 · 12:24 PM UTC

Johnson Fistel Continues Investigation on Behalf of RXO, Inc. (RXO) Shareholders Who Have Incurred Losses

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November 6, 2025 · 6:30 AM UTC

RXO Announces Third-Quarter Results

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October 28, 2025 · 3:28 PM UTC

Johnson Fistel Continues Investigation on Behalf of RXO, Inc. (RXO) Shareholders Who Have Incurred Losses

Read more