XPO, Inc. Revenue in 2025

XPO, Inc. reported $8.3B in revenue for fiscal year 2025. This represents a growth of 2.5% compared to the 2024 figure of $8.1B.

Revenue grew from $7.78 billion in 2023 to $8.1 billion in 2024, with consensus estimates pointing to $8.3 billion in 2025. Net income of $216 million in 2024 on $8.1 billion in revenue implies a net margin of approximately 2.7 percent, reflecting the capital intensity of operating 170 terminals and a large owned equipment fleet. The Yellow bankruptcy revenue capture — approximately $500 million annualized within 12 months — contributed materially to the 2024 revenue growth. LTL market share shifts of this magnitude are unusual in a business where networks take decades to build and customer relationships are sticky; Yellow's sudden exit created a window that benefited the remaining large carriers disproportionately. The $5.5 billion market capitalization against $8.1 billion in revenue implies a price-to-sales multiple of approximately 0.68, below the range where pure-play freight companies typically trade when their pricing power and network density metrics are improving. The discount likely reflects the post-acquisition debt load and investor skepticism about sustainable margin improvement beyond the Yellow windfall. The European Transportation segment contributed approximately 41 percent of total fiscal 2024 revenue. That exposure to European freight markets, acquired through the Norbert Dentressangle purchase, creates both geographic diversification and currency risk that a pure North American LTL carrier doesn't carry. The Kuehne+Nagel logistics asset acquisition in 2024 deepened European vertical expertise in automotive and technology sectors.