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GXO Logistics cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$82.0M in Q3 2026 · $174M over twelve months

Operating cash flow$156M
Capital spending−$74.0M
Free cash flow+$82.0M
Cash / net income2.4×

Analysis

In Q3 2026, GXO Logistics generated $156M of operating cash flow and spent $74.0M on capital projects, leaving free cash flow of $82.0M. That is $6.0M less than in Q3 2025 ($88.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $433M; the largest uses were capital spending ($259M), buybacks ($102M), net borrowing (+) / repaid (−) ($63.0M); besides operations, cash came from asset & business sales ($55.0M), other financing ($25.0M); the cash balance fell by $1.0M.

Operating cash flow was $156M against net income of $65.0M — 2.4× profit, cash ran ahead of reported earnings. The largest differences: receivables −$152M, depreciation & amortization +$115M, accrued liabilities +$101M.

Free cash flow

GXO Logistics: free cash flow by quarterGXO Logistics: free cash flow by quarter$82.0MQ4 2024−$49.0MQ1 2025−$44.0MQ2 2025$88.0MQ3 2025$115MQ4 2025−$34.0MQ1 2026$11.0MQ2 2026$82.0MQ3 2026
Operating cash flow less capital spending.
GXO Logistics: operating cash flow against capital spendingGXO Logistics: operating cash flow against capital spendingOperating cash flowCapital spending$186M$104MQ4 2024$29.0M$78.0MQ1 2025$3.0M$47.0MQ2 2025$232M$144MQ3 2025$170M$55.0MQ4 2025$31.0M$65.0MQ1 2026$76.0M$65.0MQ2 2026$156M$74.0MQ3 2026
Latest (Q3 2026): Operating cash flow $156M, Capital spending $74.0M.

Capital allocation, year by year

GXO Logistics: where the cash came from (up) and went (down), by fiscal yearGXO Logistics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $455MFY2021: Net borrowing $722MFY2021: Asset sales $11.0MFY2021: Capital spending −$250MFY2021: Acquisitions $32.0M$1.2BFY2021FY2022: Operating cash flow $542MFY2022: Net borrowing $802MFY2022: Asset sales $40.0MFY2022: Capital spending −$342MFY2022: Acquisitions −$876M$1.4BFY2022FY2023: Operating cash flow $558MFY2023: Net borrowing −$169MFY2023: Asset sales $18.0MFY2023: Capital spending −$274MFY2023: Acquisitions −$149M$576MFY2023FY2024: Operating cash flow $549MFY2024: Net borrowing $643MFY2024: Asset sales $61.0MFY2024: Capital spending −$359MFY2024: Acquisitions −$863M$1.3BFY2024FY2025: Operating cash flow $434MFY2025: Net borrowing $322MFY2025: Asset sales $149MFY2025: Capital spending −$324MFY2025: Buybacks −$200M$905MFY2025
Over these 5 years operating cash flow totalled $2.5B; the largest uses were acquisitions ($1.9B) and capital spending ($1.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$340M
Debt$2.8B
Net debt$2.5B
Due within a year$400M

GXO Logistics funds itself: free cash flow was $174M over the last twelve months, and $340M of cash and investments stands against $2.8B of debt ($400M due within a year, 0.8× covered by cash).

GXO Logistics: debt maturities by year (FY2025)GXO Logistics: debt maturities by year (FY2025)$400MYear 1$275MYear 2$600MYear 4$587MYear 5$900MAfter year 5
Principal due in each year as disclosed in the annual report, against $340M of cash and investments now.

Where the cash came from and went

GXO Logistics: sources (+) and uses (−) of cash, Q3 2026GXO Logistics: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$430MOther financing−$389MOperating cash flow$156MBuybacks−$84.0MCapital spending−$74.0MOther investing−$38.0MAsset & business sales$3.0MExchange rates−$3.0MTaxes on employees’ shares−$1.0M
GXO Logistics: sources (+) and uses (−) of cash, TTM to Q3 2026GXO Logistics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$433MCapital spending−$259MBuybacks−$102MNet borrowing (+) / repaid (−)−$63.0MOther investing−$58.0MAsset & business sales$55.0MOther financing$25.0MTaxes on employees’ shares−$19.0MExchange rates−$13.0MCash drawn (+) / kept (−)$1.0M

From profit to cash

GXO Logistics: net income to operating cash flow, Q3 2026GXO Logistics: net income to operating cash flow, Q3 2026Net income$65.0MDepreciation & amortization$115MStock-based pay$12.0MDeferred taxes−$19.0MOther non-cash−$3.0MReceivables−$152MPayables$40.0MAccrued liabilities$101MPrepaid and other assets−$3.0MOperating cash flow$156M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$156M−$74.0M−$84.0M——$430M$82.0M
Q2 2026$76.0M−$65.0M−$18.0M——$24.0M$11.0M
Q1 2026$31.0M−$65.0M——$7.0M$60.0M−$34.0M
Q4 2025$170M−$55.0M—−$187M—−$513M$115M
Q3 2025$232M−$144M—$29.0M—−$137M$88.0M
Q2 2025$3.0M−$47.0M−$94.0M−$96.0M—$175M−$44.0M
Q1 2025$29.0M−$78.0M−$106M$112M—$103M−$49.0M
Q4 2024$186M−$104M—−$187M—$84.0M$82.0M

GXO Logistics: income statement and cash flow

GXO Logistics, Q3 2026: revenue $3.6B (+6% year over year), operating margin 2.7%. The chart follows the revenue to costs, profit and cash.

GXO Logistics: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.