Forensic Analysis · Trading Companies & Distributors · as of Aug 11, 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
4.2
Distress distance
Clean
Earnings quality
6
Forensic signals
-17.6
P / E (ttm)
-2.9%
ROE
$16.1B
Market cap
0.99%
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). 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 4.2, placing it in the Safe zone. 6 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 and rising from -4% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
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.
suspended
FY2024→FY2025
Dividend — suspended.The dividend has been SUSPENDED — $17M paid in FY2024, then $0 in FY2025. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.
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.
31d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 18 to 31 days FY2024→FY2025 (receivables +42311% vs revenue +11925%). Receivables are creeping up relative to sales. Across FY2021–FY2025 the day count ran 15 → 17 → 17 → 18 → 31 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. Measured against the same quarter twelve months earlier — like-for-like on the calendar, so an ordinary seasonal build cannot produce it — receivables took longer to collect in 5 consecutive quarters (Mar 2025 +5, Jun 2025 +56, Sep 2025 +37, Dec 2025 +31, Mar 2026 +37 days). In the latest of them the receivable balance grew +34985% against sales +12716%, so more of a quarter's billings were still outstanding at the period end than a year earlier — money the company has recognized and not yet been paid.
Key fundamentals
Latest Revenue$6.84B
Revenue Growth YoY+11925.0%
Revenue CAGR (3yr)+433.6%
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 Aug 11, 2026. Forensic signals flag probability, not certainty.
Qxo, Inc. (QXO) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed +11764% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 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 +391.4%/yr figure isn't a real buyback/dilution read here.