{ "ok": true, "cik": "1236275", "ticker": "QXO", "name": "QXO, INC.", "filings": [ { "form": "8-K", "filed": "2026-08-24", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1236275/000095014226002421/0000950142-26-002421-index.htm" }, { "form": "10-Q", "filed": "2026-08-14", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1236275/000162828026056919/0001628280-26-056919-index.htm" }, { "form": "8-K", "filed": "2026-08-13", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1236275/000162828026056734/0001628280-26-056734-index.htm" }, { "form": "8-K", "filed": "2026-07-23", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1236275/000110465926086330/0001104659-26-086330-index.htm" }, { "form": "8-K", "filed": "2026-07-09", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1236275/000110465926082040/0001104659-26-082040-index.htm" }, { "form": "8-K", "filed": "2026-07-01", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.01 Completion of Acquisition or Disposition of Assets", "2.03 Creation of a Direct Financial Obligation", "3.03 Material Modifications to Rights of Security Holders", "5.02 Departure or Election of Directors; Appointment of Officers", "5.03 Amendments to Articles or Bylaws; Change in Fiscal Year", "7.01 Regulation FD Disclosure", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1236275/000110465926079864/0001104659-26-079864-index.htm" } ], "events12m": 32, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-24", "url": "https://www.sec.gov/Archives/edgar/data/1236275/000095014226002421/0000950142-26-002421-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001236275.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1236275" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up QXO, INC. ($QXO). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-24. 32 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2025-03-26.", "auditor": { "changes": [ { "filed": "2025-03-26", "url": "https://www.sec.gov/Archives/edgar/data/1236275/000095014225000846/0000950142-25-000846-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 6842200000, "revenueGrowth1y": 119.24956063268893, "revenueGrowthPerYear": 2.578997000272568, "yearsOfData": 5, "operatingMargin": -0.035836426880243195, "operatingMarginPrior": -1.2478031634446398, "netMargin": -0.04083481921019555, "operatingCashFlow": 261400000, "capitalSpending": 78200000, "freeCashFlow": 183200000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 2361600000, "longTermDebt": 3057300000, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 41701380 }, { "fiscalYearEnd": "2022-12-31", "revenue": 44985276 }, { "fiscalYearEnd": "2023-12-31", "revenue": 54517000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 56900000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 6842200000 } ], "totalEquity": 9706800000, "totalAssets": 15887300000, "equityRatio": 0.6109785803755201, "returnOnEquity": -0.028783945275476987, "dividendsPaid": 0, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -0.63, "sharesOutstanding": 613000000, "bookValuePerShare": 15.834910277324633, "revenuePerShare": 11.161827079934747, "range80": { "low": 372947573172.6645, "high": 472522974144.4473, "baseline": 429647458847.4131, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.4, "growthYears": 3, "ownVolatility": 0.07847759348416901, "classVolatility": 0.07701947805587882, "volatility": 0.07760601182657562 }, "ifPaceHeld": { "low": 372947573172.6645, "high": 472522974144.4473 } }, "edgarette": "🔖 Exposure: revenue $6.8B (FY2025), total debt $3.1B. Experience: revenue up 11925.0% on the year, up 257.9% a year over 4 years; operating margin -3.6%, up from -124.8%. Soundness: equity 61.1% of assets, return on equity -2.9%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $372.9B and $472.5B next year (method v4.1: its own 3-year record of growth weighed at 40% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $342.1B to $515.2B. A statistical range, not company guidance. Against peers (43 filers, $50M+ revenue, its industry group): operating margin -3.6% against a 5.0% median; growth 11925.0% against 4.3%.", "peers": { "sic": 5030, "sicDescription": "Wholesale-Lumber & Other Construction Materials", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "50", "growth": [ 0.0427, 44 ], "opMargin": [ 0.0495, 43 ], "equityRatio": [ 0.3754, 43 ], "returnOnEquity": [ 0.0979, 41 ], "payoutRatio": [ 0.342, 23 ] }, "summary": "Qxo (QXO) grew revenue 11925% in FY2025 to $6.8 billion, operating margin -3.6% against a 5.0% median for wholesale-lumber & other construction materials, equity 61.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
QXO, INC. against its own record and its peers
Operating marginPeer median 5.0%-3.6%Revenue, on the yearPeer median 4.3%11925.0%Equity of assetsPeer median 37.5%61.1%Return on equityPeer median 9.8%-2.9%Gold tick: the median of 41–43 peers with $50M+ revenue in wholesale-lumber & other construction materials
", "chartHorizon": null, "backtest": { "tests": 12, "hits": 11, "rate": 0.9166666666666666, "method": "v4", "byYear": { "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 0, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T18:46:45.697Z", "hash": "6b52f0cff257450b", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Qxo (QXO) grew revenue 11925% in FY2025 to $6.8 billion, operating margin -3.6% against a 5.0% median for wholesale-lumber & other construction materials, equity 61.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 6842200000, "totalDebt": 3057300000, "cash": 2361600000 }, "experience": { "revenueGrowth1y": 119.24956063268893, "revenueGrowthPerYear": 2.578997000272568, "operatingMargin": -0.035836426880243195, "operatingMarginPrior": -1.2478031634446398, "netMargin": -0.04083481921019555, "freeCashFlow": 183200000 }, "soundness": { "equityRatio": 0.6109785803755201, "returnOnEquity": -0.028783945275476987, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 5030, "sicDescription": "Wholesale-Lumber & Other Construction Materials", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "50", "growth": [ 0.0427, 44 ], "opMargin": [ 0.0495, 43 ], "equityRatio": [ 0.3754, 43 ], "returnOnEquity": [ 0.0979, 41 ], "payoutRatio": [ 0.342, 23 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2025-03-26", "url": "https://www.sec.gov/Archives/edgar/data/1236275/000095014225000846/0000950142-25-000846-index.htm" } }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-24", "url": "https://www.sec.gov/Archives/edgar/data/1236275/000095014226002421/0000950142-26-002421-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 372947573172.6645, "high": 472522974144.4473, "baseline": 429647458847.4131, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.4, "growthYears": 3, "ownVolatility": 0.07847759348416901, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.07760601182657562, "k": 3 }, "stress": { "low": 342068790316.5091, "high": 515220942352.5839, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 12, "hits": 11, "rate": 0.9166666666666666, "method": "v4", "byYear": { "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 0, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T18:46:45.697Z", "hash": "6b52f0cff257450b", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001236275.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1236275" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0382, "growth3y": 4.338, "volatility": 0.0785, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.611, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns 3.8% of revenue into operating cash; revenue growing 433.8% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 14th percentile for cash, 100th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$1B-10B", "cashPctInClass": 14, "growthPctInClass": 100, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 261400000, "investing": -10630300000, "financing": 7662800000, "capitalSpending": 78200000, "free": 183200000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 226034, "free": 111273 }, { "fiscalYearEnd": "2022-12-31", "operating": 2038392, "free": 1888392 }, { "fiscalYearEnd": "2023-12-31", "operating": 584000, "free": 463000 }, { "fiscalYearEnd": "2024-12-31", "operating": 84800000, "free": 84698000 }, { "fiscalYearEnd": "2025-12-31", "operating": 261400000, "free": 183200000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 2361600000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 15887300000, "ladder": null, "currentRatio": 3.58, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0382, "growth3y": 4.338, "volatility": 0.0785, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.611, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns 3.8% of revenue into operating cash; revenue growing 433.8% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 14th percentile for cash, 100th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$1B-10B", "cashPctInClass": 14, "growthPctInClass": 100, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 261400000, "investing": -10630300000, "financing": 7662800000, "capitalSpending": 78200000, "free": 183200000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 226034, "free": 111273 }, { "fiscalYearEnd": "2022-12-31", "operating": 2038392, "free": 1888392 }, { "fiscalYearEnd": "2023-12-31", "operating": 584000, "free": 463000 }, { "fiscalYearEnd": "2024-12-31", "operating": 84800000, "free": 84698000 }, { "fiscalYearEnd": "2025-12-31", "operating": 261400000, "free": 183200000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 2361600000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 15887300000, "ladder": null, "currentRatio": 3.58, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }