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Runs outsourced warehouses and e-commerce fulfillment centers for retailers and manufacturers under long-term contracts.
Runs outsourced warehouses and e-commerce fulfillment centers for retailers and manufacturers under long-term contracts.
Customers sign multi-year contracts for GXO to run their warehouses and fulfilment, so revenue rests on keeping existing sites busy and winning new ones. Spun off from XPO in 2021, it widened its reach beyond the US by buying UK-based Wincanton in 2024, giving it a large UK operation alongside the US.
Moat: narrow (switching costs, scale, installed base). Long-term contracts and embedded operations inside customer supply chains raise switching costs.
Headquarters: Greenwich, Connecticut, US · Founded: 2021 · Employees: 154,000
Size GXO Logistics (GXO) is a United States Industrials company (Air Freight/Couriers) with a market value of $6.33B, the 1024th largest of 3,117 United States companies the cockpit tracks. Shares closed at $55.18 on 6 Nov 2026.
Performance Over six months the shares gained 6.9%, against -7.3% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 7.1% over the last twelve months (peer median +8.3%); the operating margin is 3.2% (peer median 3.0%).
Valuation It trades at 16.0× forward earnings against a peer median of 12.3× (5th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.0 points below its cost of capital (9.1% WACC).
Backlog Backlog (remaining performance obligations) was $3.90B at 30 Sep 2024, up 15% on a year earlier — 0.4 years of trailing revenue. Backlog detail →
Credit GXO Logistics has 4 bonds outstanding ($2.06B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 111 bp.
Short interest Short interest is 6.7% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.8B | $13.2B | $11.7B | $9.78B | $8.99B |
| Revenue growth | — | +13% | +20% | +9% | — |
| Gross profit | $1.60B | $1.53B | $1.44B | $1.38B | $1.22B |
| EBITDA | $905M | $882M | $795M | $745M | $664M |
| Net income | $136M | $32.0M | $134M | $229M | $197M |
| Free cash flow | $174M | $110M | $190M | $284M | $200M |
| Capital expenditure | $259M | $324M | $359M | $274M | $342M |
| Total debt | $5.82B | $5.85B | $5.18B | $4.09B | $4.22B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| GXO Logistics GXO | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% |
| Deutsche Post DHL.DE | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% |
| XPO XPO | $20.6B | -13% | +9% | 11% | 26.6× | 26.2% |
| Ryder System R | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% |
| Kuehne & Nagel International KNIN.SW | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% |
| Dsv A/s DSV.CO | $51.5B | -3% | +37% | 8% | 23.5× | 3.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GXO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +19.0% | +4.9% | highest of 21 |
| 6-month return | +6.9% | -7.3% | 8th highest of 21 |
| Distance from 52-week high | -17.5% | -18.1% | 10th highest of 21 |
| Revenue growth (TTM) | +7.1% | +8.3% | 10th lowest of 21 |
| Operating margin | 3.2% | 3.0% | 10th highest of 20 |
| Forward P/E | 16.0× | 12.3× | 5th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 20.2% | -2.2% | 3rd most demanding of 17 |
| Growth delivered (Del g) | +16.3% | +7.0% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | +3.9 pp | -9.3 pp | 5th most demanding of 17 |
| ROIC minus cost of capital | -5.0 pp | -0.3 pp | 5th lowest of 20 |
| EV / EBITDA | 13.1× | 7.6× | 2nd most expensive of 8 |
| Net debt / EBITDA | 6.1× | 0.9× | 2nd most indebted of 10 |
| Bond spread | 111 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| Sinotrans 0598.HK | Hong Kong | $6.57B | -8% | +4% | 0% | 8.6× | 9.4% | +2.0% |
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | n/a | n/a | n/a |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% | +4.6% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 15.8× | -5.9% | +5.4% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% | +1.9% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | n/a | 24.3% | -29.4% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% | +16.6% |
| Shanghai Zhonggu Logistics 603565.SS | China | $3.97B | +16% | +4% | 27% | 10.4× | -14.4% | +0.4% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% | +8.5% |
| Antong 600179.SS | China | $3.81B | -7% | +9% | 16% | n/a | -4.0% | +13.5% |
| Xiamen C&D 600153.SS | China | $3.77B | -8% | -6% | 1% | 12.4× | 21.2% | +9.3% |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 8.7× | -10.8% | +12.3% |
| Delhivery DELHIVERY.NS | India | $3.40B | -11% | +24% | 0% | 81.8× | n/a | n/a |
| Huaihe Energy 600575.SS | China | $3.38B | -12% | +38% | n/a | 12.2× | n/a | n/a |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 18.6× | -3.8% | +51.4% |
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | n/a | n/a | n/a |
GXO Logistics has 4 bonds outstanding with $2.06B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.32%, a spread of 111 bp over government bonds.
GXO Logistics reported $3.90B of remaining performance obligations at 30 Sep 2024, up 15% from a year earlier and down 5% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 0.94.