QXO, Inc. (QXO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+257.2%

$42.61

vs $11.93 price

Levered DCF

$87.83

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.32

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-30.62×	-144.55×	-83.98×	-59.2×	-170.29×	73.81×	-13.33×	39.49×
P/B	1.22×	1.28×	6,022.73×	800.56×	1,200.63×	884.18×	1,100.58×	1,204.27×
P/S	1.73×	114.06×	825.35×	170×	269.39×	156.16×	254.25×	144.57×
EV / EBITDA	51.55×	27.3×	-155,145.81×	5,576.04×	7,561.64×	4,735.04×	-10,288.48×	-10,200.34×
Gross margin	16.8%	40.3%	39.6%	39.9%	41.3%	40.2%	38.1%	36.6%
Operating margin	-0.8%	-124.8%	-2.4%	-0.9%	-0.6%	0.5%	-5.0%	-3.2%
Net margin	-4.1%	49.2%	-2.0%	-0.6%	-0.3%	0.4%	17.6%	0.7%
Current ratio	3.58×	112.85×	1.02×	1.27×	1.45×	1.28×	1.5×	0.78×
Debt / equity	0.4×	0×	0.35×	0.25×	0.24×	0.42×	0.25×	0.39×
Interest coverage	-0.33×	-1,183.33×	-23.55×	-4.33×	-4.94×	16.41×	-47.9×	-27.86×
Dividend yield	0.9%	0.8%	0.0%	0.0%	0.0%	0.1%	0.0%	0.0%
Payout ratio	-37.5%	177.5%	-98.2%	0.0%	-2292.4%	2306.4%	3.3%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.9%	0.6%	-14.3%	-3.0%	-1.4%	2.4%	76.4%	6.1%
Return on invested capital	-0.3%	-0.8%	-10.2%	-1.9%	6.1%	1.7%	-13.1%	-14.8%
Return on assets	-1.8%	0.5%	-5.2%	-1.3%	-0.7%	1.1%	35.8%	2.2%
Free cash flow yield	1.5%	1.3%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%
Earnings yield	-2.4%	0.4%	-0.0%	-0.0%	-0.0%	0.0%	0.1%	0.0%
Enterprise value	$13.4B	$1.4B	$45B	$7.6B	$11.2B	$6.4B	$9.8B	$5.2B
Net debt / EBITDA	5.98×	-97.47×	12.15×	-4.09×	-3.05×	-2.62×	6.76×	0.41×
Cash conversion cycle (days)	129	22	-31	-23	-11	-13	3	-11