XPO, Inc. (XPO) intrinsic value & 10-year financials
XPO, Inc. (XPO) has a Graham intrinsic value of $87.69 per share. At $186.67 on Oct 17, 2026, the stock trades 113% above that value. Over the last 10 fiscal years revenue shrank 6.3% a year to $8.2B, with an average return on invested capital of 7.9%.
- Graham intrinsic value
- $87.69
- Share price (Oct 17, 2026)
- $186.67
- Price vs Graham value
- 113% above
- Market cap
- $22.2B
- Revenue (FY2025)
- $8.2B
- Revenue growth (10-yr CAGR)
- -6.3%
- ROIC (10-yr avg)
- 7.9%
- Free cash flow (FY2025)
- $329.0M
XPO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $8.2B | $316.0M | $2.64 | $329.0M | 8.0% | 9.7% |
| FY2024 | $8.1B | $387.0M | $3.23 | $19.0M | 8.2% | 11.7% |
| FY2023 | $7.7B | $189.0M | $1.60 | -$839.0M | 5.7% | 8.5% |
| FY2022 | $7.7B | $666.0M | $5.76 | $303.0M | 4.9% | 8.7% |
| FY2021 | $12.8B | $336.0M | $2.93 | $343.0M | 4.8% | 8.1% |
| FY2020 | $16.3B | $110.0M | $0.78 | $359.0M | 2.4% | 4.0% |
| FY2019 | $16.6B | $419.0M | $3.57 | $190.0M | 4.9% | 8.2% |
| FY2018 | $17.3B | $422.0M | $2.88 | $551.0M | 4.1% | 7.1% |
| FY2017 | $15.4B | $340.2M | $2.45 | $294.8M | 4.1% | 8.3% |
| FY2016 | $14.6B | $69.0M | $0.53 | $142.0M | 3.3% | 5.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
XPO, Inc. is facing top-line stagnation, with revenue contracting over the decade.
XPO, Inc. has historically struggled to out-earn its cost of capital, averaging just 7.9% ROIC.
XPO, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, XPO, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $87.69 per share.