QXOQXO, Inc.
Wholesale-Lumber & Other Construction Materials
- Revenue
- $6.8B
- 11925% YoY
- Operating margin
- -3.6%
- 97% YoY
- EBITDA
- −$137M
- 93% YoY
- Market cap
- $8.0B
- Employees
- 320
- $21M revenue each
- Net debt / EBITDA
- —
- $3.3B net debt
- AI in 10-K
- 1.9
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo27% of assetsOver 40% of assets
- Shareholder dissentNo87% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$21M · 100th pctBottom quartile of its SIC industry
- Quiet on AINo1.9 per 10K words · 54th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$8.0B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $42M | $45M | $55M | $57M | $6.8B | 11925% |
| Operating income | −$231K | −$385K | −$1M | −$71M | −$245M | 245% |
| Net income | −$134K | −$282K | −$1M | $28M | −$279M | 1098% |
| Operating cash flow | $226K | $2M | $584K | $85M | $261M | 208% |
| Capex | $115K | $39K | $121K | $102K | $78M | 76567% |
| Stock-based comp | $441K | $180K | $41K | $34M | $145M | 320% |
| Dividends | $3M | $0 | $1M | $17M | $0 | 100% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Apr 20, 2026 | Jacobs Private Equity II, LLC | SCHEDULE 13D/A | 35.8% | Passive |
| Aug 14, 2025 | Affinity Partners GP LP | SCHEDULE 13D/A | 15.2% | Passive |
| May 6, 2025 | Affinity Partners GP LP | SCHEDULE 13D | 16.1% | Active |
| Apr 18, 2025 | Jacobs Private Equity II, LLC | SCHEDULE 13D/A | 49.0% | Active |
| Jun 17, 2024 | Jacobs Private Equity II, LLC | SC 13D/A | 89.9% | Active |
| Jun 6, 2024 | Jacobs Private Equity II, LLC | SC 13D/A | 89.9% | Active |
| Apr 15, 2024 | Jacobs Private Equity II, LLC | SC 13D/A | 35.6% | Passive |
| Dec 13, 2023 | Jacobs Private Equity II, LLC | SC 13D | 38.2% | Passive |
| Sep 30, 2022 | BitNile Holdings, Inc. | SC 13D/A | 3.3% | Passive |
| Sep 19, 2022 | BitNile Holdings, Inc. | SC 13D/A | 6.5% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.