XPO, Inc.
Financial Performance
XPO Revenue & Financials
Revenue
$8.2B (FY2025)
Market Cap
$20.4B
Net Income
$316M
Employees
38,000
What is XPO's revenue?
XPO had $8.2B in revenue for fiscal year 2025, up 1.1% from 2024. Net income was $316M.
- Latest revenue
- $8.2B (FY2025)
- Year-over-year
- +1.1%
- Growth rate (CAGR)
- 5.7% over 5 years
- Peak revenue
- $8.2B (FY2025)
- Years of data
- 6
- Employees
- 38,000
Financial Analysis
Revenue was $7.744 billion in 2023, $8.072 billion in 2024 and $8.157 billion in 2025, while net income moved from $189 million to $387 million and then $316 million. 2026 has been stronger: first-quarter revenue was $2.10 billion with $101 million of net income, and second-quarter revenue was $2.36 billion with operating income of $271 million, net income of $162 million and adjusted EBITDA of $434 million. The North American LTL adjusted operating ratio improved to 79.9% in that quarter.
Revenue Trend Analysis
YoY Change
+1.1%
5-Year CAGR
+5.7%
Peak Year
2025
Trend
Consistent Growth
XPO, Inc. has 6 full fiscal year figures on this page, compounding at +5.7% annually over 5 years. The most recent year saw a 1.1% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $8.2B. Of 5 comparable year-over-year steps, 5 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $8.2B | $656M | $316M | +1.1% | XPO, Inc. Form 10-K for fiscal 2025 Fiscal year ended December 31, 2025. |
| FY2024 | $8.1B | $660M | $387M | +4.2% | XPO, Inc. Form 10-K for fiscal 2025 Fiscal year ended December 31, 2024. |
| FY2023 | $7.7B | $438Mfiling | $189M | +0.3% | XPO, Inc. Form 10-K for fiscal 2023 Fiscal year ended December 31, 2023. |
| FY2022 | $7.7B | $377M | $666M | +7.2% | XPO, Inc. annual report (Form 10-K, SEC EDGAR, filed 2025-02-07) Fiscal year ended 2022-12-31. |
| FY2021 | $7.2B | $312Mfiling | $336M | +16.8% | XPO, Inc. annual report (SEC EDGAR, filed 2023-02-13) Fiscal year ended 2021-12-31. Figure as presented in the annual report filed 2023-02-13. |
| FY2020 | $6.2B | $97M | $110M | — | XPO, Inc. annual report (SEC EDGAR, filed 2023-02-13) Fiscal year ended 2020-12-31. Figure as presented in the annual report filed 2023-02-13. |
Click any row to see year details.
XPO, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | — | $657M | $8.2B | $1.9B | — | Form 10-K |
| FY2024ended Dec 31, 2024 | — | $789M | $7.7B | $1.6B | — | Form 10-K |
| FY2023ended Dec 31, 2023 | — | $1.5B | $7.5B | $1.3B | — | Form 10-K |
| FY2022ended Dec 31, 2022 | — | $521M | $6.3B | $1B | — | Form 10-K |
| FY2021ended Dec 31, 2021 | $656M | $269M | $8.7B | $1.1B | $387M | Form 10-K |
| FY2020ended Dec 31, 2020 | $388M | $249M | $16.2B | $2.8B | $139M | Form 10-K |
Keep researching XPO
XPO Revenue and Financial FAQ
What was XPO's total revenue in fiscal year 2025?
In fiscal year 2025, XPO generated $8.157 billion in total revenue, driven by accelerating North American LTL shipment volumes, higher freight yields, and operational market share gains.
What is an Operating Ratio (OR) and how has XPO improved it?
Operating Ratio (operating expenses divided by revenue) is the primary metric of LTL profitability; XPO improved its adjusted North American LTL operating ratio into the mid-80s, targeting sub-80% over the cycle.
How much did XPO invest to acquire Yellow Corporation terminals?
In December 2023, XPO paid $870 million to acquire 28 service centers from bankrupt Yellow Corporation, funding the transaction through cash and committed term debt.
How much capacity did the Yellow terminals add to XPO's network?
The acquisition added approximately 3,000 net freight doors across high-density metro freight hubs, instantly expanding XPO's total network capacity by 10% to 15% and enabling multi-year volume growth.
What is XPO's net capital expenditure profile?
XPO invests hundreds of millions annually in capital expenditures, focusing on tractor fleet renewal (keeping average tractor age young to reduce fuel and repair costs), trailer manufacturing, and terminal real estate upgrades.
What is XPO's balance sheet debt and credit rating profile?
XPO maintains a strong, investment-grade balance sheet with a conservative net leverage ratio below 2.5x adjusted EBITDA, supported by over $1.0 billion in liquidity.
Does XPO pay a cash dividend?
XPO currently does not pay a regular cash dividend, prioritizing its free cash flow toward terminal expansion, fleet investments, debt reduction, and programmatic share repurchases.
How does yield per hundredweight impact financial compounding?
XPO consistently delivers 6% to 9% annual growth in yield (revenue per hundredweight excluding fuel), demonstrating strong pricing power in a consolidated trucking market.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "XPO Revenue & Financials." CorpDigest, https://corpdigest.com/company/xpo/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>XPO reported $8.2B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/xpo/financials" target="_blank" rel="noopener">CorpDigest — XPO financials</a></div>Related Financial Audits
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