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Arranges truckload freight shipments for shippers via a technology brokerage platform, without owning trucks.
Arranges truckload freight shipments for shippers via a technology brokerage platform, without owning trucks.
Charges a shipper a rate to move each load and pays a trucker less, keeping the gap, so profit depends on that spread, which narrows when trucks are plentiful and widens when they are scarce. Some freight is under contract and some priced load by load. Spun off from XPO in 2022, it bought Coyote Logistics from UPS in 2024 to add volume.
Moat: narrow (scale, network effects, data). Large carrier network and freight-matching technology, but a highly fragmented, price-competitive brokerage market.
Headquarters: Charlotte, North Carolina, United States · Founded: 2022 · Employees: 9,218
Size RXO (RXO) is a United States Information Technology company (Packaged Software) with a market value of $4.55B, the 1249th largest of 3,117 United States companies the cockpit tracks. Shares closed at $27.60 on 6 Nov 2026.
Performance Over six months the shares gained 26.9%, against +3.8% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 10.1% over the last twelve months (peer median +12.5%); the operating margin is 0.1% (peer median 3.5%).
Valuation It trades at 53.0× forward earnings against a peer median of 22.1× (4th most expensive of 15).
Capital Return on invested capital runs 12.6 points below its cost of capital (12.9% WACC).
Backlog Backlog (remaining performance obligations) was $51.0M at 30 Sep 2026, up 219% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 6.6% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.54B | $5.74B | $4.55B | $3.93B | $4.80B |
| Revenue growth | — | +26% | +16% | -18% | — |
| Gross profit | $1.05B | $825M | $696M | $658M | $1.09B |
| EBITDA | $116M | $109M | $117M | $134M | $306M |
| Net income | -$88.0M | -$100M | -$290M | $4.00M | $92.0M |
| Free cash flow | -$73.0M | -$8.00M | -$57.0M | $25.0M | $253M |
| Capital expenditure | $58.0M | $59.0M | $45.0M | $64.0M | $57.0M |
| Total debt | $727M | $670M | $664M | $558M | $618M |
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 |
|---|---|---|---|---|---|---|
| RXO RXO | $4.55B | +27% | +10% | 0% | 53.0× | n/a |
| C.H. Robinson CHRW | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% |
| J.B. Hunt JBHT | $20.3B | -11% | +11% | 7% | 24.3× | 16.8% |
| Landstar System LSTR | $4.83B | -22% | +11% | 4% | 19.8× | 12.0% |
| Hub HUBG | $1.48B | -44% | n/a | n/a | 51.6× | n/a |
| Knight-Swift Transportation KNX | $9.51B | -9% | +7% | 4% | 15.6× | 21.3% |
| Schneider National SNDR | $4.88B | -10% | +6% | 3% | 18.7× | 19.5% |
| Werner Enterprises WERN | $1.62B | -26% | +15% | 2% | 18.8× | n/a |
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 | RXO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.6% | +6.6% | 4th lowest of 21 |
| 6-month return | +26.9% | +3.8% | 6th highest of 20 |
| Distance from 52-week high | -7.7% | -38.7% | 3rd highest of 21 |
| Revenue growth (TTM) | +10.1% | +12.5% | 8th lowest of 21 |
| Operating margin | 0.1% | 3.5% | 6th lowest of 21 |
| Forward P/E | 53.0× | 22.1× | 4th most expensive of 15 |
| ROIC minus cost of capital | -12.6 pp | -2.8 pp | 5th lowest of 21 |
| Net debt / EBITDA | 6.0× | -0.2× | most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| RXO RXO | United States | $4.55B | +27% | +10% | 0% | 53.0× | n/a | n/a |
| HeartFlow HTFL | United States | $4.56B | +15% | +40% | -34% | n/a | n/a | n/a |
| CCC Intelligent Solutions CCC | United States | $4.54B | +50% | +11% | 18% | 15.1× | 11.2% | +10.8% |
| Planet Labs PBC PL | United States | $4.57B | -68% | +44% | -26% | n/a | n/a | n/a |
| Beijing DeepZero Technology 2723.HK | Hong Kong | $4.58B | n/a | +31% | 1% | n/a | n/a | n/a |
| Maase MAAS | United States | $4.51B | +7% | -84% | -16% | n/a | n/a | n/a |
| BILL BILL | United States | $4.50B | +25% | +13% | 1% | 13.7× | 36.5% | +47.3% |
| Kingsoft 3888.HK | Hong Kong | $4.46B | +4% | 0% | 14% | 15.1× | -5.8% | +10.8% |
| Tenable TENB | United States | $4.40B | +93% | +10% | 5% | 17.8× | 30.1% | +17.8% |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 42.6× | 35.6% | +35.7% |
| Yonyou Network Technology 600588.SS | China | $4.72B | -21% | +4% | -16% | n/a | n/a | n/a |
| OBIC Business Consultants 4733.T | Japan | $4.74B | +62% | +12% | 47% | 36.1× | 3.2% | +11.9% |
| Shanghai Stonehill Technology 002195.SZ | China | $4.77B | -34% | +11% | -25% | 284.5× | n/a | n/a |
| Asseco Poland ACP.WA | Poland | $4.85B | +31% | +2% | 11% | 23.5× | 4.0% | +6.6% |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Beijing HyperStrong Technology 688411.SS | China | $4.99B | -29% | +38% | 12% | 16.7× | n/a | n/a |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
RXO reported $51.0M of remaining performance obligations at 30 Sep 2026, up 219% from a year earlier and down 6% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.