RXORXO, Inc.
Transportation Services
- Revenue
- $5.7B
- 26% YoY
- Operating margin
- -1.4%
- 12% YoY
- EBITDA
- $37M
- 19% YoY
- Market cap
- $4.5B
- Employees
- 9,218
- $623K revenue each
- Net debt / EBITDA
- 11.8×
- $436M net debt
- AI in 10-K
- 3.7
- 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 SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo32% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$623K · 75th pctBottom quartile of its SIC industry
- Quiet on AINo3.7 per 10K words · 76th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo11.8× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$4.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$7M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $4.7B | $4.8B | $3.9B | $4.5B | $5.7B | 26% |
| Operating income | $192M | $123M | $39M | −$56M | −$79M | 41% |
| Net income | $150M | $92M | $4M | −$290M | −$100M | 66% |
| Operating cash flow | $155M | $310M | $89M | −$12M | $51M | 525% |
| Capex | $39M | $57M | $64M | $45M | $59M | 31% |
| Stock-based comp | $8M | $32M | $19M | $23M | $29M | 26% |
| Buybacks | $0 | $0 | $2M | $0 | $0 |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Oct 5, 2026 | MFN Partners, LP | SCHEDULE 13D | 19.3% | Passive |
Insider trading
- Open-market buys, 12 mo
- $7M · 6
- Open-market sells, 12 mo
- $386K · 1
- Net
- $7M
Pay vs performance
No pay-versus-performance disclosure yet.