Qxo (QXO) Gross Margin (2010 - 2026)
Qxo (QXO) recorded quarterly Gross Margin of 23.66% in Q1 2026, down 2.05% quarter-over-quarter from 24.15% in Q4 2025, and down 1634.0% on a YoY basis from 1.54% in Q1 2025.
Qxo (QXO) Gross Margin (2010 - 2026) Analysis & Trends
Qxo's Gross Margin history runs 17 years deep, the most recent figure standing at 23.66% for Q1 2026.
- In Q1 2026, Gross Margin fell 1634.0% year-over-year to 23.66%; the TTM figure through Mar 2026 stood at 23.09% (down 1769.0% YoY), while the FY2025 annual figure was 22.99%, down 1761.0% from the prior year.
- Gross Margin was 23.66% for Q1 2026 at Qxo, down from 24.15% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 42.68% in Q1 2022 to a low of 21.07% in Q2 2025.
- Historically, Gross Margin has averaged 36.07% across 5 years, with a median of 39.19% in 2024.
- The sharpest annual moves came in 2024 and 2025: Gross Margin jumped 232 bps in 2024, then sank 1893 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 37.88% in 2022, then gained by 3 bps to 38.89% in 2023, then increased by 6 bps to 41.22% in 2024, then sank by 41 bps to 24.15% in 2025, then decreased by 2 bps to 23.66% in 2026.
- The last three Gross Margin figures came in at 23.66% (Q1 2026), 24.15% (Q4 2025), and 23.3% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | W.W. Grainger | 62.94 Bn | 62.76 Bn | 1.75 Bn | 39.46% |
| 2 | Fastenal | 53.43 Bn | 53.12 Bn | 982.90 Mn | 44.64% |
| 3 | Ferguson Enterprises | 44.77 Bn | 43.95 Bn | 2.32 Bn | 31.02% |
| 4 | Wesco International | 16.87 Bn | 16.17 Bn | 1.29 Bn | 21.25% |
| 5 | Watsco | 14.40 Bn | 14.26 Bn | 427.56 Mn | 27.89% |
| 6 | Qxo | 12.38 Bn | 9.33 Bn | 409.30 Mn | 23.66% |
| 7 | Applied Industrial Technologies | 11.89 Bn | 11.72 Bn | 380.80 Mn | 30.43% |
| 8 | Core & Main | 9.06 Bn | 8.99 Bn | 520.00 Mn | 27.23% |
| 9 | Pool | 7.12 Bn | 7.04 Bn | 329.87 Mn | 28.99% |
| 10 | Msc Industrial Direct | 6.50 Bn | 6.45 Bn | 377.59 Mn | 41.14% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.66% |
| Dec 31, 2025 | 24.15% |
| Sep 30, 2025 | 23.30% |
| Jun 30, 2025 | 21.07% |
| Mar 31, 2025 | 40.00% |
| Dec 31, 2024 | 41.22% |
| Sep 30, 2024 | 41.98% |
| Jun 30, 2024 | 40.00% |
| Mar 31, 2024 | 39.19% |
| Dec 31, 2023 | 38.89% |
| Sep 30, 2023 | 39.86% |
| Jun 30, 2023 | 39.11% |
| Mar 31, 2023 | 40.81% |
| Dec 31, 2022 | 37.88% |
| Sep 30, 2022 | 40.57% |
| Jun 30, 2022 | 38.80% |
| Mar 31, 2022 | 42.68% |
| Dec 31, 2021 | 40.56% |
| Sep 30, 2021 | 38.97% |
| Jun 30, 2021 | 41.75% |