TakeoverPE & activists

RXORXO, Inc.

Transportation Services · $4.5B market cap · 9,218 employees

1.3×

More likely than average to be taken private

Top 12% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

2of 15 firedHow well they predict deals →
13 other checks
  • 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 SBCNo
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    32% of assets
    Over 40% of assets
  • Shareholder dissentNo
    92% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $623K · 75th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    3.7 per 10K words · 76th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    11.8× EBITDA net debt
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    5 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $7M net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Oct 5, 20268-KC.H. Robinson Worldwide, Inc.——

Key numbers

Revenue
$5.7BFY2021: $4.7BFY2022: $4.8BFY2023: $3.9BFY2024: $4.5BFY2025: $5.7B
26% YoY
Operating margin
-1.4%FY2021: 4.1%FY2022: 2.6%FY2023: 1.0%FY2024: -1.2%FY2025: -1.4%
12% YoY
EBITDA
$37MFY2021: $273MFY2022: $209MFY2023: $106MFY2024: $31MFY2025: $37M
19% YoY
Net debt / EBITDA
11.8×
$436M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$4.7B$4.8B$3.9B$4.5B$5.7B 26% FY2021: $4.7BFY2022: $4.8BFY2023: $3.9BFY2024: $4.5BFY2025: $5.7B
Operating income$192M$123M$39M−$56M−$79M 41% FY2021: $192MFY2022: $123MFY2023: $39MFY2024: −$56MFY2025: −$79M
Net income$150M$92M$4M−$290M−$100M 66% FY2021: $150MFY2022: $92MFY2023: $4MFY2024: −$290MFY2025: −$100M
Operating cash flow$155M$310M$89M−$12M$51M 525% FY2021: $155MFY2022: $310MFY2023: $89MFY2024: −$12MFY2025: $51M
Capex$39M$57M$64M$45M$59M 31% FY2021: $39MFY2022: $57MFY2023: $64MFY2024: $45MFY2025: $59M
Stock-based comp$8M$32M$19M$23M$29M 26% FY2021: $8MFY2022: $32MFY2023: $19MFY2024: $23MFY2025: $29M
Buybacks$0$0$2M$0$0FY2021: $0FY2022: $0FY2023: $2MFY2024: $0FY2025: $0

13D filers

FiledFilerFormStakeIntent
Oct 5, 2026MFN Partners, LPSCHEDULE 13D19.3%Passive

Insider trading

+$7Mnet buying by insiders, open market, last 12 months
Bought $7M · 6 tradesSold $386K · 1 trade

Pay vs performance

No pay-versus-performance disclosure yet.