Forensic Analysis · Transportation / Logistics · as of Nov 9, 2026

GXO Logistics, Inc. (GXO)

A forensic read on GXO Logistics, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

0.3

Distress distance

Clean

Earnings quality

Forensic signals

1.1%

ROE

12.5%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

GXO Logistics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.3, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

2.0%

FY2025

Return on invested capital. Return on invested capital is 2.0% in the latest fiscal year and slipping across FY2023–FY2025 from 4.3%. After-tax operating profit was $279M in FY2023 and $159M in FY2025, with operating income at 3.3% of revenue in FY2023, 1.9% in FY2024 and 1.9% in FY2025. The capital base behind it grew +22% across FY2023–FY2025, from $6.4B to $7.9B, while the return fell 2.3 points, so the dollars added over that window earned less than the 4.3% the older base was already earning. FY2025's operating profit carried a $27M restructuring charge that alone took about 0.2 points off that year's return, so about 0.2 of the 2.3-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less.

182% of FCF

FY2025

Shareholder returns. Returned $200M to shareholders (buybacks + dividends) in FY2025 — 182% of free cash flow, but 46% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $47M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 225%.

Key fundamentals

Latest Revenue$13.18B

Revenue Growth YoY+12.5%

Revenue CAGR (2yr)+16.1%

Net Margin0.2%

Free Cash Flow$110.0M

Return on Equity1.1%

Debt / Equity1.03x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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