GXO Logistics, Inc. (GXO) Balance Sheet

NYSE: GXOAssets, liabilities, debt and equity over 7 years.

GXO balance sheet, 2025

December 31, 2025 · U.S. dollars

$12.26B assets = $9.25B liabilities + $3.02B equity

Both columns are drawn to the same scale: what GXO owns equals what it owes plus shareholders’ equity. Hover a block for its value.

GXO financial health

Current ratio0.85

Tight · current assets cover current liabilities 0.85×

Debt / equity2.65

High leverage · $2.65 of debt for each $1 of equity

Equity / assets24.3%

Balanced · of assets funded by shareholders

Cash / debt10.8%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles38.2%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

GXO balance sheet trends, 2019–2025

GXO Logistics, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$6.15B2019	$12.26B2025	+12.2%/yr
Total liabilities	$3.45B2019	$9.25B2025	+17.8%/yr
Shareholders’ equity	$2.57B2019	$2.98B2025	+2.5%/yr
Cash & short-term investments	$200.0M2019	$854.0M2025	+27.4%/yr
Total debt	$2.13B2019	$7.90B2025	+24.4%/yr
Net cash (debt)	−$1.93B2019	−$7.04B2025	−$5.1B
Working capital	$5.0M2019	−$587.0M2025	−$592.0M
Book value per share	$22.402019	$25.652025	+2.3%/yr
Current ratio	1.002019	0.852025	−0.15
Debt / equity	0.832019	2.652025	+1.82
Shares outstanding	114.6M2019	116.3M2025	+0.2%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

GXO assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

GXO liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

GXO debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

GXO balance sheet

GXO Logistics, Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019
Assets
Cash & short-term investments	$854.0M	$413.0M	$468.0M	$495.0M	$333.0M	$328.0M	$200.0M
Cash & equivalents	$854.0M	$413.0M	$468.0M	$495.0M	$333.0M	$328.0M	$200.0M
Short-term investments	—	—	$2.0M	—	—	—	—
Receivables	$2.03B	$1.80B	$1.75B	$1.65B	$1.51B	$1.22B	$1.07B
Inventory	$0	$0	−$2.0M	$0	$0	$0	$0
Other current assets	$406.0M	$429.0M	$349.0M	$286.0M	$259.0M	$284.0M	$219.0M
Total current assets	$3.29B	$2.64B	$2.57B	$2.43B	$2.10B	$1.84B	$1.49B
Property, plant & equipment (net)	$3.71B	$3.49B	$3.15B	$3.19B	$2.63B	$2.20B	$2.20B
Goodwill & intangible assets	$4.69B	$4.54B	$3.46B	$3.30B	$2.27B	$2.36B	$2.33B
Long-term investments	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$570.0M	$601.0M	$327.0M	$306.0M	$263.0M	$146.0M	$136.0M
Total assets	$12.26B	$11.27B	$9.51B	$9.22B	$7.27B	$6.55B	$6.15B
Liabilities
Accounts payable	$758.0M	$776.0M	$709.0M	$717.0M	$624.0M	$415.0M	$413.0M
Short-term debt	$1.19B	$757.0M	$624.0M	$627.0M	$487.0M	$390.0M	$367.0M
Deferred revenue	—	—	$630.0M	—	$998.0M	$784.0M	$609.0M
Total current liabilities	$3.88B	$3.19B	$2.63B	$2.53B	$2.33B	$1.74B	$1.48B
Long-term debt	$2.62B	$2.52B	$1.62B	$1.74B	$927.0M	$615.0M	$642.0M
Lease obligations	$2.79B	$2.54B	$2.44B	$2.41B	$1.84B	$1.43B	$1.46B
Other long-term liabilities	$2.75B	$2.52B	$2.31B	$2.27B	$1.62B	$1.25B	$1.33B
Total liabilities	$9.25B	$8.23B	$6.56B	$6.54B	$4.88B	$3.60B	$3.45B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$2.77B	$2.63B
Retained earnings (deficit)	$718.0M	$686.0M	$552.0M	$323.0M	$126.0M	$0	—
Accumulated other comprehensive income	−$201.0M	−$313.0M	−$239.0M	−$254.0M	−$130.0M	$58.0M	−$66.0M
Minority interest	$32.0M	$32.0M	$34.0M	$33.0M	$39.0M	—	—
Total shareholders' equity	$2.98B	$3.00B	$2.91B	$2.65B	$2.35B	$2.82B	$2.57B
Key figures
Total debt	$7.90B	$5.18B	$4.09B	$4.22B	$2.81B	$2.10B	$2.13B
Net cash (debt)	−$7.04B	−$4.76B	−$3.62B	−$3.72B	−$2.47B	−$1.78B	−$1.93B
Working capital	−$587.0M	−$548.0M	−$58.0M	−$104.0M	−$230.0M	$98.0M	$5.0M
Tangible book value	−$1.71B	−$1.53B	−$546.0M	−$653.0M	$77.0M	$461.0M	$240.0M
Book value per share	$25.65	$25.07	$24.37	$22.49	$20.34	$24.63	$22.40
Shares outstanding	116.3M	119.8M	119.5M	117.6M	115.6M	114.6M	114.6M
Current ratio	0.85	0.83	0.98	0.96	0.90	1.06	1.00
Quick ratio	0.74	0.69	0.85	0.85	0.79	0.89	0.86
Debt / equity	2.65	1.72	1.40	1.60	1.19	0.75	0.83
Equity / assets	24.3%	26.7%	30.6%	28.7%	32.3%	43.1%	41.7%

GXO Logistics, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$769.0M	$794.0M	$854.0M	$339.0M	$205.0M	$288.0M	$413.0M	$548.0M	$469.0M	$423.0M	$468.0M	$473.0M
Cash & equivalents	$769.0M	$794.0M	$854.0M	$339.0M	$205.0M	$288.0M	$413.0M	$548.0M	$469.0M	$423.0M	$468.0M	$473.0M
Short-term investments	—	—	—	—	—	—	—	−$547.5M	—	$422.6M	$2.0M	—
Receivables	$2.07B	$2.02B	$2.03B	$2.02B	$1.95B	$1.90B	$1.80B	$1.97B	$1.91B	$1.67B	$1.75B	$1.66B
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$798,000	−$2.0M	$0
Other current assets	$414.0M	$397.0M	$406.0M	$452.0M	$434.0M	$446.0M	$429.0M	$443.0M	$419.0M	$374.2M	$349.0M	$332.0M
Total current assets	$3.25B	$3.21B	$3.29B	$2.81B	$2.59B	$2.63B	$2.64B	$2.96B	$2.80B	$2.46B	$2.57B	$2.47B
Property, plant & equipment (net)	$3.96B	$3.81B	$3.71B	$3.79B	$3.91B	$3.58B	$3.49B	$3.66B	$3.44B	$3.14B	$3.15B	$3.06B
Goodwill & intangible assets	$4.57B	$4.59B	$4.69B	$4.74B	$4.83B	$4.60B	$4.54B	$4.74B	$4.61B	$3.41B	$3.46B	$3.24B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$593.0M	$577.0M	$0	$577.0M	$592.0M	$511.0M	$601.0M	$542.0M	$520.0M	$362.0M	$327.0M	$328.0M
Total assets	$12.37B	$12.19B	$8.97B	$11.91B	$11.93B	$11.32B	$11.27B	$11.90B	$11.36B	$9.38B	$9.51B	$9.09B
Liabilities
Accounts payable	$707.0M	$713.0M	$758.0M	$716.0M	$691.0M	$720.0M	$776.0M	$748.0M	$690.0M	$615.0M	$709.0M	$597.0M
Short-term debt	$1.53B	$1.21B	$1.19B	$1.26B	$822.0M	$856.0M	$757.0M	$904.0M	$891.0M	$723.0M	$624.0M	$587.0M
Deferred revenue	—	—	—	—	—	—	—	$255.0M	$308.0M	$210.0M	$210.0M	$975.0M
Total current liabilities	$4.12B	$3.77B	$3.88B	$3.93B	$3.41B	$3.37B	$3.19B	$3.43B	$3.27B	$2.62B	$2.63B	$2.43B
Long-term debt	$2.45B	$2.65B	$2.62B	$2.18B	$2.60B	$2.54B	$2.52B	$2.56B	$2.55B	$1.51B	$1.62B	$1.62B
Lease obligations	$2.92B	$2.85B	$2.79B	$2.80B	$2.87B	$2.59B	$2.54B	$2.75B	$2.65B	$2.43B	$2.44B	$2.36B
Other long-term liabilities	$2.78B	$2.77B	$2.75B	$2.81B	$2.94B	$2.50B	$2.52B	$2.77B	$2.61B	$2.34B	$2.31B	$2.22B
Total liabilities	$9.35B	$9.19B	$9.25B	$8.92B	$8.95B	$8.42B	$8.23B	$8.76B	$8.43B	$6.48B	$6.56B	$6.27B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Retained earnings (deficit)	$747.0M	$722.0M	$718.0M	$675.0M	$616.0M	$590.0M	$686.0M	$586.0M	$553.0M	$515.0M	$552.0M	$479.0M
Accumulated other comprehensive income	−$223.0M	−$222.0M	−$201.0M	−$174.0M	−$120.0M	−$245.0M	−$313.0M	−$101.0M	−$263.0M	−$249.0M	−$239.0M	−$289.0M
Minority interest	$35.0M	$35.0M	$32.0M	$33.0M	$35.0M	—	—	—	—	—	—	—
Total shareholders' equity	$2.99B	$2.97B	$2.98B	$2.96B	$2.94B	$2.87B	$3.00B	$3.11B	$2.90B	$2.87B	$2.91B	$2.78B
Key figures
Total debt	$6.12B	$5.96B	$7.90B	$5.50B	$5.56B	$5.31B	$5.18B	$5.53B	$5.42B	$4.07B	$4.09B	$4.01B
Net cash (debt)	−$5.35B	−$5.17B	−$7.04B	−$5.16B	−$5.35B	−$5.02B	−$4.76B	−$4.98B	−$4.95B	−$3.65B	−$3.62B	−$3.54B
Working capital	−$868.0M	−$564.0M	−$587.0M	−$1.13B	−$821.0M	−$741.0M	−$548.0M	−$473.0M	−$472.0M	−$162.0M	−$58.0M	$32.0M
Tangible book value	−$1.58B	−$1.63B	−$1.71B	−$1.78B	−$1.90B	−$1.73B	−$1.53B	−$1.63B	−$1.71B	−$543.0M	−$546.0M	−$457.0M
Book value per share	$25.81	$25.62	$25.80	$25.62	$25.55	$24.12	$25.02	$25.93	$24.24	$24.05	$24.33	$23.27
Shares outstanding	115.7M	115.8M	115.6M	115.3M	115.1M	119.0M	120.0M	119.8M	119.7M	119.3M	119.7M	119.6M
Current ratio	0.79	0.85	0.85	0.71	0.76	0.78	0.83	0.86	0.86	0.94	0.98	1.01
Quick ratio	0.69	0.75	0.74	0.60	0.63	0.65	0.69	0.73	0.73	0.80	0.85	0.88
Debt / equity	2.05	2.01	2.65	1.86	1.89	1.85	1.72	1.78	1.87	1.42	1.40	1.44
Equity / assets	24.1%	24.3%	33.2%	24.8%	24.7%	25.3%	26.7%	26.1%	25.5%	30.6%	30.6%	30.6%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.

GXO financial position

At the end of fiscal 2025 (December 31, 2025), GXO Logistics had total assets of $12.3 billion (up 8.8% from a year earlier), total liabilities of $9.2 billion and shareholders' equity of $3.0 billion. It held $854.0 million in cash and short-term investments against $7.9 billion of debt, net debt of $7.0 billion. Its current ratio was 0.85. In the latest quarter (ended June 30, 2026) total assets were $12.4 billion and equity $3.0 billion.

Related: GXO income statement, GXO cash flow statement, GXO key metrics. See the GXO stock overview for the latest quote and news.

GXO balance sheet FAQ

What are GXO Logistics's total assets?

GXO Logistics reported total assets of $12.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $11.3 billion a year earlier.

How much debt does GXO Logistics have?

GXO Logistics had $7.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.65.

How much cash does GXO Logistics have?

GXO Logistics held $854.0 million in cash and short-term investments at the end of fiscal 2025; with $7.9 billion of debt that is net debt of $7.0 billion.

What is GXO Logistics's book value?

GXO Logistics's shareholders' equity (book value) was $3.0 billion at the end of fiscal 2025, or $25.65 per share.

What is GXO Logistics's current ratio?

GXO Logistics had current assets of $3.3 billion and current liabilities of $3.9 billion, a current ratio of 0.85 (current liabilities exceed current assets).

How much goodwill does GXO Logistics have?

GXO Logistics carried $4.7 billion of goodwill and intangible assets, 38.2% of total assets, at the end of fiscal 2025.