Forensic Analysis · Transportation / Logistics · as of Sep 24, 2026
Rxo, Inc. (RXO)
A forensic read on Rxo, 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
Grey Zone
Financial health
2.0
Distress distance
Clean
Earnings quality
5
Forensic signals
-33.1
P / E (ttm)
-6.5%
ROE
$3.3B
Market cap
0.00%
Dividend yield
26.2%
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.
Rxo, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.0, placing it in the Grey zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-2.8%
FY2025
Return on invested capital.Return on invested capital is -2.8% in the latest fiscal year and slipping across FY2023–FY2025 from 3%. The capital base behind it grew +96% across FY2023–FY2025, from $1.1B to $2.2B, while the return fell 5.9 points, so the dollars added over that window earned less than the 3% the older base was already earning.
+18.8%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +41% over the last 2 years to FY2025 (+18.8%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~18.8% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~29%.
0.5% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.5% of revenue in FY2025 — about $0.17 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 19.0% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
stopped
FY2023→FY2025
Shareholder returns — halted.Capital returns have STOPPED — $2M of buybacks + dividends in FY2023, but ~$0 in FY2025. A halt usually means the company is conserving cash.
Key fundamentals
Latest Revenue$5.74B
Revenue Growth YoY+26.2%
Revenue CAGR (2yr)+20.9%
Net Margin-1.7%
Free Cash Flow-$8.0M
Return on Equity-6.5%
Debt / Equity0.26x
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 Rxo, 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.
Rxo, Inc. (RXO) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$12M
FY2025–FY2025
Goodwill impairments.Took $12M of goodwill writedowns across 1 year (FY2025 ($12M)). Writedowns mean past acquisitions underperformed what was paid for them.