Latest Ratios: P/E Ratio 173.0x · EV/EBITDA 14.3x · ROE 1.1%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.6B | $6.1B | $5.2B | $7.3B | $5.0B | $10.5B | — | — |
| Enterprise Value | $12.6B | $13.2B | $10.0B | $10.9B | $8.7B | $13.0B | — | — |
| P/E Ratio → | 172.96 | 188.00 | 38.84 | 31.85 | 25.56 | 68.81 | — | — |
| P/S Ratio | 0.42 | 0.46 | 0.45 | 0.75 | 0.56 | 1.32 | — | — |
| P/B Ratio | 1.87 | 2.03 | 1.72 | 2.48 | 1.87 | 4.39 | — | — |
| P/FCF | 50.65 | 55.66 | 27.43 | 25.73 | 25.11 | 51.22 | — | — |
| P/OCF | 12.84 | 14.11 | 9.49 | 13.10 | 9.26 | 23.08 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.00 | 0.85 | 1.12 | 0.97 | 1.63 | — | — |
| EV / EBITDA | 14.30 | 14.93 | 15.76 | 16.09 | 15.32 | 26.69 | — | — |
| EV / EBIT | 29.68 | 55.55 | 40.06 | 34.25 | 29.85 | 74.55 | — | — |
| EV / FCF | — | 119.69 | 52.50 | 38.47 | 43.73 | 63.28 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.6% | 11.6% | 12.3% | 14.1% | 13.6% | 12.2% | 11.3% | 11.2% |
| Operating Margin | 3.2% | 3.2% | 1.9% | 3.3% | 2.7% | 1.9% | 0.3% | 2.5% |
| Net Profit Margin | 0.2% | 0.2% | 1.1% | 2.3% | 2.2% | 1.9% | -0.5% | 1.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 1.1% | 1.1% | 4.5% | 8.1% | 7.8% | 5.7% | -1.1% | 2.2% |
| ROA | 0.3% | 0.3% | 1.3% | 2.4% | 2.4% | 2.2% | -0.5% | 1.0% |
| ROIC | 3.6% | 3.6% | 2.3% | 3.7% | 3.2% | 2.4% | 0.3% | 2.4% |
| ROCE | 5.2% | 5.2% | 2.9% | 4.7% | 4.2% | 3.1% | 0.3% | 3.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.62 | 2.62 | 1.71 | 1.39 | 1.58 | 1.17 | 0.71 | 0.79 |
| Debt / EBITDA | 8.95 | 8.95 | 8.18 | 6.02 | 7.39 | 5.77 | 6.21 | 4.72 |
| Net Debt / Equity | — | 2.34 | 1.57 | 1.23 | 1.39 | 1.03 | 0.60 | 0.72 |
| Net Debt / EBITDA | 7.99 | 7.99 | 7.52 | 5.33 | 6.52 | 5.09 | 5.24 | 4.28 |
| Debt / FCF | — | 64.04 | 25.07 | 12.74 | 18.62 | 12.06 | 16.00 | — |
| Interest Coverage | 1.78 | 1.78 | 2.42 | 6.02 | 10.10 | 8.29 | 0.75 | 4.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.85 | 0.85 | 0.83 | 0.98 | 0.96 | 0.90 | 1.06 | 1.00 |
| Quick Ratio | 0.85 | 0.85 | 0.83 | 0.98 | 0.96 | 0.90 | 1.06 | 1.00 |
| Cash Ratio | 0.22 | 0.22 | 0.13 | 0.18 | 0.20 | 0.14 | 0.19 | 0.13 |
| Asset Turnover | — | 1.07 | 1.04 | 1.03 | 0.98 | 1.09 | 0.95 | 0.99 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 56.17 | 56.08 | 65.44 | 66.85 | 69.28 | 72.12 | 64.03 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.5% | 2.6% | 3.1% | 3.9% | 1.5% | — | — |
| FCF Yield | 2.0% | 1.8% | 3.6% | 3.9% | 4.0% | 2.0% | — | — |
| Buyback Yield | 3.6% | 3.3% | 0.2% | 0.2% | 0.3% | 0.0% | — | — |
| Total Shareholder Yield | 3.6% | 3.3% | 0.2% | 0.2% | 0.3% | 0.0% | — | — |
| Shares Outstanding | — | $116M | $120M | $119M | $118M | $116M | $115M | $115M |
Includes 30+ ratios · 7 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying GXO stock.
GXO Logistics, Inc.'s current P/E ratio is 173.0x. The historical average is 70.6x. This places it at the 80th percentile of its historical range.
GXO Logistics, Inc.'s current EV/EBITDA is 14.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.8x.
GXO Logistics, Inc.'s return on equity (ROE) is 1.1%. The historical average is 4.0%.
Based on historical data, GXO Logistics, Inc. is trading at a P/E of 173.0x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
GXO Logistics, Inc. has 11.6% gross margin and 3.2% operating margin.
GXO Logistics, Inc.'s Debt/EBITDA ratio is 9.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
High leverage and integration risks
Metrics are mathematically derived from official filings.
Premium Priced for Transformation
GXO trades at 172x trailing earnings but only 15.9x forward, implying the market expects a dramatic earnings rebound. According to recent financial statements, EV/EBITDA of 14.3x sits below asset-light peers like CHRW at 21.2x, suggesting a discount to forward earnings power.
The wide gap between trailing and forward P/E reflects the market's belief that current margins are depressed and will normalize. However, the forward multiple still implies a significant recovery in profitability, which may be optimistic given the persistent sub-4% operating margins. Investors should monitor whether the anticipated margin expansion materializes, as the current valuation offers little room for disappointment.
Thin Margins Mask Underlying Potential
Gross margin averaged 12.5% over the past ten quarters, but operating margin has hovered near 2.5%, as reported in SEC filings. Net margin of 0.24% in 2026Q2 underscores the impact of interest and integration costs, which may be obscuring the earnings power of mature sites.
The cost structure is heavily weighted toward labor and pass-through expenses, leaving little operating leverage. The recent uptick in gross margin to 14.8% in 2026Q2 suggests some benefit from automation, but SG&A and start-up costs continue to drag on the bottom line. If the company can scale closed-book contracts and realize automation efficiencies, operating margin could expand, but this remains unproven.
Returns Stuck Near Zero
ROIC has remained below 1.2% for the last ten quarters, with 2026Q2 at 0.7%, based on reported figures. This is far below the cost of capital, indicating that the company is not yet generating economic returns on its heavy investments in automation and acquisitions.
The low ROIC is driven by both thin margins and a large asset base, which has grown through PP&E and goodwill. While the company is investing for future growth, the current returns do not justify the capital employed. Investors should watch for any improvement in ROIC as new contracts mature and integration costs subside; otherwise, the value creation thesis is questionable.
Working Capital Efficiency Stalls
DSO has remained stable around 53-56 days over the past year, while DPO has hovered near 22-25 days, as per financial statements. The cash conversion cycle is not calculable due to missing DIO data, but the negative working capital swings in seven of ten quarters suggest ongoing inefficiencies.
The stable DSO indicates consistent collection practices, but the relatively short DPO compared to DSO suggests limited supplier leverage. The company's working capital swings, often negative, point to timing mismatches between billings and payments, which can strain liquidity. Given the thin margins, even small working capital inefficiencies can have a disproportionate impact on cash flow.
Leverage Creeps Higher Amid Expansion
Debt-to-equity rose from 1.40 in 2024Q1 to 2.02 in 2026Q2, with total debt reaching $6.1B, as reported in recent financial statements. Interest coverage of 2.03x in 2026Q2 indicates that operating income barely covers interest expense, leaving little cushion for downturns.
The aggressive use of debt to fund acquisitions and automation has increased financial risk. The D/EBITDA ratio of 31.5x is extremely high, though this may be distorted by depressed EBITDA; on a normalized basis, it would be lower but still elevated. With thin margins and volatile cash flows, the company's ability to service debt could become strained if integration issues persist or if interest rates remain high.
Liquidity Buffer Thin and Deteriorating
The current ratio fell from 0.94 in 2024Q1 to 0.79 in 2026Q2, with cash of $769M against total debt of $6.1B, based on reported figures. This indicates a shrinking liquidity cushion relative to short-term obligations, which could be vulnerable under stress.
A current ratio below 1.0 suggests that current liabilities exceed current assets, a common feature in logistics but still a concern given the company's high debt load. The quick ratio is identical to the current ratio, implying minimal inventory, which is typical for a service-based model. However, the thin liquidity buffer means that any unexpected cash outflow, such as a large working capital swing or integration cost, could force additional borrowing or asset sales.
Valuation Discount to Asset-Light Peers
GXO's EV/EBITDA of 14.3x is below CHRW's 21.2x and EXPD's 20.4x, as per peer data, but its ROIC of 0.7% is far lower than EXPD's 48.4%. This suggests the market is pricing GXO for a recovery, but the gap in returns remains wide.
Compared to asset-light freight forwarders, GXO's capital intensity justifies a lower multiple, but the current discount may not fully compensate for the higher risk. The company's net margin of 0.24% is significantly below peers like EXPD at 7.4%, indicating structural profitability challenges. If GXO can close this margin gap through automation and scale, the valuation could prove attractive, but that is a big if.
EV/EBITDA Misleads on Capital Intensity
EV/EBITDA is commonly used to value logistics firms, but for GXO it obscures the heavy capital expenditures required for automation and facility build-outs. As reported in financial statements, capex averaged 2.6% of revenue, making EBITDA a poor proxy for cash generation.
EBITDA ignores depreciation on robotics and warehouses, which are significant and growing. A more appropriate metric would be EV/EBIT or EV/EBITDAR (adding back rent) to capture the true operating cost structure. Additionally, investors should consider EV/Invested Capital to assess whether the company is creating value relative to its asset base. Using EV/EBITDA alone may overstate GXO's attractiveness, as it does not account for the capital intensity that pressures free cash flow.