GXONYSETransportation ServicesUS GAAP · USD

GXO Logistics, Inc.

GXO Logistics is a contract logistics company that runs outsourced warehousing and distribution networks for large enterprises. It handles order fulfillment, e-commerce, reverse logistics and other supply chain services using technology-enabled, customized warehouse operations at scale.

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Revenue13.2bn USD
+12.5 %y/y
Operating profit (EBIT)245m USD
+12.4 %y/y
EBIT margin1.9%
−0.0 ppy/y
Net income32.0m USD
−76.1 %y/y
Free cash flow110m USD
−42.1 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

051015bn USD2020: 6.2 bn USD2020: EBIT 0.02 bn USD20202021: 7.9 bn USD2021: EBIT 0.15 bn USD20212022: 9.0 bn USD2022: EBIT 0.24 bn USD20222023: 9.8 bn USD2023: EBIT 0.32 bn USD20232024: 11.7 bn USD2024: EBIT 0.22 bn USD20242025: 13.2 bn USD2025: EBIT 0.25 bn USD202513.20.25
RevenueOperating profit (EBIT)

Business

Share of revenue
Warehousing and distribution45 %

Outsourced storage, handling and distribution of customer inventory across GXO-operated facilities.

E-commerce fulfillment25 %

Pick, pack and ship services for online and omnichannel retail orders.

Reverse logistics10 %

Returns processing, refurbishment and disposition services for customer products.

Value-added supply chain services10 %

Customized logistics work such as kitting, labeling, sequencing and light assembly.

Technology and automation solutions10 %

Warehouse automation, data analytics and process optimization embedded in operations.

Products

Reported · share of revenue
48.6%12.5%11.6%10.5%9.5%FY2025100 %
  • E Commerce Omnichannel and Consumer Technology48.6 %
  • Technology and Consumer Electronics12.5 %
  • Industrial and Manufacturing11.6 %
  • Food and Beverage10.5 %
  • Consumer Packaged Goods9.5 %
  • Other7.3 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

GXO serves large corporations that outsource warehousing and related logistics functions, with a customer base spanning more than one thousand accounts. Its core buyers are multinational brands in omnichannel retail, technology and consumer electronics, industrials, food and beverage, and consumer packaged goods that need efficient, scalable warehouse execution. Customers use GXO to improve service levels, shorten fulfillment times, manage returns and reduce logistics complexity without building the capability in-house.

Omnichannel retail

Retailers buy fulfillment, distribution and returns services to support store and online channels.

Technology and consumer electronics

Brands outsource inventory handling, order fulfillment and reverse logistics for fast-moving products.

Industrial and manufacturing

Customers use GXO for warehouse operations, sequencing and supply chain optimization.

Food and beverage

Companies buy temperature-sensitive or high-volume warehouse and distribution services.

Consumer packaged goods

CPG customers outsource storage, picking and distribution to improve service and flexibility.

Strategy

GXO is focused on expanding outsourced warehouse solutions through technology, automation and scale. Management is prioritizing core verticals with durable demand, winning new projects, expanding services within existing accounts and improving productivity through process and automation levers.

Expand outsourced logistics share of walletMedium term

Growth comes from taking more of customers' warehousing and fulfillment spend.

Automate and digitize warehouse operationsMedium term

Automation improves labor productivity, service quality and margin resilience.

Focus on core verticals with durable demandLong term

Concentrating on sectors with recurring demand supports steadier utilization and growth.

Improve customer retention through consultative serviceShort term

Long customer relationships and network redesign work increase switching costs.

Geography

Q1/2026

GXO operates globally, with approximately 1,043 facilities and 221 million square feet of warehouse space worldwide as of year-end 2025. The company says most revenue is generated in the United Kingdom, the United States, the Netherlands, France, Spain and Italy, and its customers are primarily in North America and Europe. Its international footprint matters because labor, currency and regulatory conditions vary by market and directly affect operating performance.

United Kingdom48 %
United States23 %
Netherlands8.2 %
France6.3 %
Other countries (US filing)6.2 %
Spain4.9 %
Italy3.3 %

Share of the revenue the company reports by geography.

Risks

GXO is exposed to intense competition, customer insourcing and pricing pressure in a fragmented logistics market. Its results also depend on reliable warehouse execution, safe handling of customer inventory, technology uptime and effective management of international operations, where currency and regulatory risks are meaningful.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Intense competition and customer insourcing1Operational execution and service quality2Technology and systems failure3Inventory custody and liability4Foreign exchange and international regulatory exposure5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Intense competition and customer insourcingImpact: HighLikelihood: Medium

    Customers bid work frequently and can shift volume to lower-cost providers or bring logistics in-house.

    ExposurePricing pressureMargin compressionLost contracts
  2. Operational execution and service qualityImpact: HighLikelihood: Medium

    The business depends on consistent warehouse performance, labor productivity and customer satisfaction.

    ExposureReputationRenewalsContract expansion
  3. Technology and systems failureImpact: HighLikelihood: Medium

    Warehouse operations rely on integrated IT, automation and data systems that must be maintained and upgraded.

    Exposure: Service disruption and higher remediation costs

  4. Inventory custody and liabilityImpact: MediumLikelihood: Medium

    GXO often stores and handles customer-owned inventory, creating loss, damage and claims exposure.

    ExposureClaimsExpensesReputational harm
  5. Foreign exchange and international regulatory exposureImpact: MediumLikelihood: Medium

    A significant portion of earnings and assets are denominated in euro and sterling, and overseas operations face local compliance risks.

    ExposureTranslation lossesTradeAnti-corruption compliance

Accounting

Judgemental items
Seasonality

E-commerce demand peaks in the holiday period, while first-quarter activity is typically lower.

Impact: Quarterly comparability and working capital swings

Business combinations and goodwill

Acquisitions are accounted for using purchase accounting, creating goodwill and intangibles that require valuation.

Impact: Potential impairment charges and amortization

Lease accounting

Facilities are central to the model and warehouse rent is a major cost component.

Impact: Balance sheet lease liabilities and operating expense profile

Foreign currency translation

A large share of operations is outside the U.S., especially in euro and sterling markets.

Impact: Reported revenue, assets and earnings can move with FX

Litigation and regulatory accruals

The company discloses regulatory matter and litigation expense and operates in a heavily regulated environment.

Impact: Earnings volatility and contingent liability estimates

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Last updated: 24/09/2026