Forensic Analysis · Trading Companies & Distributors · as of Sep 24, 2026
Qxo, Inc. (QXO)
A forensic read on Qxo, 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
Safe
Financial health
3.6
Distress distance
Clean
Earnings quality
5
Forensic signals
-13.7
P / E (ttm)
-2.9%
ROE
$12.7B
Market cap
1.62%
Dividend yield
11925.0%
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 (red flags, auditor quality, say on pay, board independence, going concern, valuation). 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.
Qxo, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 3.6, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-1.6%
FY2025
Return on invested capital.Return on invested capital is -1.6% in the latest fiscal year.
stopped
FY2024→FY2025
Shareholder returns — halted.Capital returns have STOPPED — $17M of buybacks + dividends in FY2024, but ~$0 in FY2025. A halt usually means the company is conserving cash.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $-15.6M to FY2025 $+10402.5M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.
61d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 17 to 61 days FY2024→FY2025 (receivables +42311% vs revenue +11925%). Receivables are creeping up relative to sales. Across FY2023–FY2025 the day count ran 20 → 17 → 61 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
n/m (stock split)
Key fundamentals
Latest Revenue$6.84B
Revenue Growth YoY+11925.0%
Revenue CAGR (2yr)+1018.4%
Net Margin-4.1%
Free Cash Flow$183.2M
Return on Equity-2.9%
Debt / Equity0.31x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Qxo, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 24, 2026. Forensic signals flag probability, not certainty.
FY2023–FY2025
Share count (stock split).Diluted share count changed +93203% over the last 2 years to FY2025, but that includes a large one-time change around FY2024 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +2954.6%/yr figure isn't a real buyback/dilution read here.
Qxo, Inc. (QXO) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy