What is XPO's free cash flow margin?

XPO (XPO) reported free cash flow margin of 5.5% in Q1 2026.

What does free cash flow margin mean?

How much real, spendable cash each sales dollar generates after reinvestment.

How do you interpret free cash flow margin?

A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.

How does free cash flow margin compare across companies?

Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.

XPO XPO Free cash flow margin

Free cash flow margin at other companies

JB Hunt Transport ServicesJBHT

8.5%+4.3pp

Old Dominion Freight LineODFL

18.7%+4.1pp

FedExFDX

4.8%+0.8pp

Expeditors International of WashingtonEXPD

8.2%+1.3pp

CSXCSX

14.5%-4.5pp

C.H. Robinson WorldwideCHRW

5.3%+1.7pp

Other financials

Income statement

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Revenue$2.1B+7.3%

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%

CapEx$111.0M-44.2%

Free cash flow$72.0M+226%

Valuation

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Market cap$23.42B+80.7%

Enterprise value$27.37B+60.5%

P/E67.3×+34.0×

P/S2.8×+1.2×

Profitability

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Gross margin29.6%+22.4pp

Operating margin8.2%-0.2pp

Net margin4.2%-0.7pp

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

Calculated from XPO’s reported figures.

free cash flow/total revenue=5.5%

Based on trailing twelve months.

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 free cash flow margin?: XPO (XPO) reported free cash flow margin of 5.5% in Q1 2026.
What does free cash flow margin mean?: How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?: A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?: Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.