XPO (XPO) reported capex of $111M in Q1 2026.

How has XPO's capex changed year-over-year?

XPO's capex decreased by 44.2% year-over-year, from $199M to $111M.

What is the long-term trend for XPO's capex?

Over 4 years (2021 to 2025), XPO's capex has grown at a 25.0% compound annual growth rate (CAGR), from $269M to $657M.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

XPO XPO CapEx

CapEx at other companies

JB Hunt Transport ServicesJBHT

$110.27M-55.1%

Old Dominion Freight LineODFL

$62.57M-29.0%

ArcBestARCB

$9.76M-32.8%

Forward AirFWRD

$6.95M-41.7%

FedExFDX

$1.47B+0.1%

SaiaSAIA

$66.12M-67.4%

Other financials

Income statement

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Revenue$2.1B+7.3%

Gross profit$998.0M+3.5%

Operating income$174.0M+15.2%

Net income$101.0M+46.4%

EPS (diluted)$0.85+46.6%

Balance sheet

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Cash & equivalents$179.0M+4.1%

Total debt$4.1B-2.1%

Total equity$1.9B+12.9%

Total assets$8.2B+3.9%

Cash flow

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Operating cash flow$183.0M+28.9%

Free cash flow$72.0M+226%

Valuation

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Market cap$24.1B+65.6%

Enterprise value$28.05B+50.6%

P/E69.3×+27.1×

P/S2.9×+1.1×

Profitability

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Gross margin29.6%+22.4pp

Operating margin8.2%-0.2pp

Net margin4.2%-0.7pp

FCF margin5.5%—

Returns & leverage

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Return on equity19.9%-6.2pp

Debt / equity2.2×-0.3×

Current ratio1×0.0×

Where this comes from

Reported directly by XPO in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: XPO’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is XPO's capex?: XPO (XPO) reported capex of $111M in Q1 2026.
How has XPO's capex changed year-over-year?: XPO's capex decreased by 44.2% year-over-year, from $199M to $111M.
What is the long-term trend for XPO's capex?: Over 4 years (2021 to 2025), XPO's capex has grown at a 25.0% compound annual growth rate (CAGR), from $269M to $657M.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.