Qxo (QXO) Operating Expenses (2010 - 2026)

Qxo (QXO) recorded quarterly Operating Expenses of $661.2 million in Q1 2026, up 10.31% quarter-over-quarter from $599.4 million in Q4 2025, and up 1379.19% on a YoY basis from $44.7 million in Q1 2025.

Qxo (QXO) Operating Expenses (2010 - 2026) Analysis & Trends

Qxo's Operating Expenses history runs 17 years deep, the most recent figure standing at $661.2 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 1379.19% year-over-year to $661.2 million; the TTM figure through Mar 2026 stood at $2.4 billion (up 1726.26% YoY), while the FY2025 annual figure was $1.8 billion, up 1831.88% from the prior year.
  • Operating Expenses was $661.2 million for Q1 2026 at Qxo, up from $599.4 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $661.2 million in Q1 2026 to a low of $4.2 million in Q2 2022.
  • Historically, Operating Expenses has averaged $153.8 million across 5 years, with a median of $7.9 million in 2023.
  • The sharpest annual moves came in 2022 and 2025: Operating Expenses slipped 0.42% in 2022, then surged 5482.18% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $4.9 million in 2022, then grew by 8.83% to $5.3 million in 2023, then jumped by 641.65% to $39.3 million in 2024, then jumped by 1425.19% to $599.4 million in 2025, then increased by 10.31% to $661.2 million in 2026.
  • The last three Operating Expenses figures came in at $661.2 million (Q1 2026), $599.4 million (Q4 2025), and $610.0 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 W.W. Grainger 62.94 Bn 62.76 Bn 1.75 Bn 1.11 Bn
2 Fastenal 53.43 Bn 53.12 Bn 982.90 Mn 535.30 Mn
3 Ferguson Enterprises 44.77 Bn 43.95 Bn 2.32 Bn 1.61 Bn
4 Wesco International 16.87 Bn 16.17 Bn 1.29 Bn 947.60 Mn
5 Watsco 14.40 Bn 14.26 Bn 427.56 Mn 322.85 Mn
6 Qxo 12.38 Bn 9.33 Bn 409.30 Mn 661.20 Mn
7 Applied Industrial Technologies 11.89 Bn 11.72 Bn 380.80 Mn 242.88 Mn
8 Core & Main 9.06 Bn 8.99 Bn 520.00 Mn 343.00 Mn
9 Pool 7.12 Bn 7.04 Bn 329.87 Mn 247.26 Mn
10 Msc Industrial Direct 6.50 Bn 6.45 Bn 377.59 Mn 310.34 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 661.20 Mn
Dec 31, 2025 599.40 Mn
Sep 30, 2025 610.00 Mn
Jun 30, 2025 563.80 Mn
Mar 31, 2025 44.70 Mn
Dec 31, 2024 39.30 Mn
Sep 30, 2024 39.20 Mn
Jun 30, 2024 10.10 Mn
Mar 31, 2024 5.43 Mn
Dec 31, 2023 5.30 Mn
Sep 30, 2023 7.91 Mn
Jun 30, 2023 4.73 Mn
Mar 31, 2023 4.99 Mn
Dec 31, 2022 4.87 Mn
Sep 30, 2022 4.55 Mn
Jun 30, 2022 4.21 Mn
Mar 31, 2022 4.72 Mn
Dec 31, 2021 4.89 Mn
Sep 30, 2021 4.23 Mn
Jun 30, 2021 4.07 Mn