Estados financieros detallados de GXO Logistics, Inc. (GXO): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
GXO Logistics, Inc. registró ingresos de $13.18B en el último ejercicio fiscal, con un CAGR de 5 años del 16.3%.
Márgenes de los últimos 12 meses: margen bruto 13.5%, margen operativo 3.0%, margen neto 1.0%. El flujo de caja libre creció a un CAGR del -0.2% en 5 años.
Al precio actual de $46.15, GXO cotiza a un P/E de 41.27 y un ROE del 4.41%. La capitalización bursátil es de $5.3B.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $6.07B | $6.09B | $6.20B | $7.94B | $8.99B | $9.78B | $11.71B | $13.18B |
| Coste de Ventas | $5.38B | $5.41B | $5.49B | $6.97B | $7.77B | $8.40B | $10.27B | $11.65B |
| Beneficio Bruto | $687.0M | $680.0M | $703.0M | $968.0M | $1.22B | $1.38B | $1.44B | $1.53B |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $528.0M | $514.0M | $611.0M | $714.0M | $886.0M | $998.0M | $1.06B | $1.1M |
| Gastos Operativos | $528.0M | $530.0M | $687.0M | $817.0M | $979.0M | $1.06B | $1.22B | $1.11B |
| Beneficio Operativo | $143.0M | $150.0M | $16.0M | $151.0M | $242.0M | $318.0M | $218.0M | $425.0M |
| EBITDA | $420.0M | $453.0M | $341.0M | $509.0M | $622.0M | $680.0M | $664.0M | $694.0M |
| Gastos por Intereses | $30.0M | $33.0M | $24.0M | $21.0M | $29.0M | $53.0M | $103.0M | $133.0M |
| Beneficio Antes de Impuestos | $126.0M | $118.0M | -$6.0M | $153.0M | $264.0M | $266.0M | $146.0M | $104.0M |
| Impuestos | $36.0M | $37.0M | $16.0M | -$8.0M | $64.0M | $33.0M | $8.0M | $68.0M |
| Beneficio Neto | $70.0M | $60.0M | -$31.0M | $153.0M | $197.0M | $229.0M | $134.0M | $32.0M |
| BPA | $0.61 | $0.52 | $-0.27 | $1.33 | $1.68 | $1.93 | $1.12 | $0.28 |
| BPA Diluido | $0.61 | $0.52 | $-0.27 | $1.32 | $1.67 | $1.92 | $1.12 | $0.28 |
| Acciones en Circulación (Diluidas) | $114.6M | $114.6M | $114.6M | $115.6M | $117.6M | $119.5M | $119.8M | $116.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $3.40B | $3.51B | $3.30B | $3.44B |
| Beneficio Bruto | $538.0M | $425.0M | $375.0M | $508.0M |
| Beneficio Operativo | $118.0M | $137.0M | $79.0M | $77.0M |
| EBITDA | $241.0M | $216.0M | $132.0M | $188.0M |
| Beneficio Neto | $59.0M | $43.0M | $4.0M | $25.0M |
| BPA | $0.51 | $0.38 | $0.03 | $0.22 |
| BPA Diluido | $0.51 | $0.37 | $0.03 | $0.22 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $200.0M | $328.0M | $333.0M | $495.0M | $468.0M | $413.0M | $854.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.07B | $1.22B | $1.51B | $1.65B | $1.75B | $1.80B | $2.03B |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.49B | $1.84B | $2.10B | $2.43B | $2.57B | $2.64B | $3.29B |
| Inmovilizado Material | $2.20B | $2.20B | $2.63B | $3.19B | $3.15B | $3.49B | $3.71B |
| Fondo de Comercio | $1.98B | $2.06B | $2.02B | $2.73B | $2.89B | $3.55B | $3.78B |
| Activos Intangibles | $343.0M | $299.0M | $257.0M | $570.0M | $567.0M | $986.0M | $909.0M |
| Activos Totales | $6.15B | $6.55B | $7.27B | $9.22B | $9.51B | $11.27B | $12.26B |
| Cuentas por Pagar | $413.0M | $415.0M | $624.0M | $717.0M | $709.0M | $776.0M | $758.0M |
| Deuda a Corto | $31.0M | $58.0M | $34.0M | $67.0M | $27.0M | $110.0M | $1.19B |
| Pasivos Corrientes | $1.48B | $1.74B | $2.33B | $2.53B | $2.63B | $3.19B | $3.88B |
| Deuda a Largo | $642.0M | $615.0M | $927.0M | $1.74B | $1.62B | $2.52B | $4.66B |
| Pasivos Totales | $3.45B | $3.60B | $4.88B | $6.54B | $6.56B | $8.23B | $9.25B |
| Reservas | 0 | 0 | $126.0M | $323.0M | $552.0M | $686.0M | $718.0M |
| Patrimonio Neto | $2.57B | $2.82B | $2.35B | $2.65B | $2.91B | $3.00B | $2.98B |
| Deuda Total | $2.13B | $2.10B | $2.81B | $4.22B | $4.09B | $5.18B | $7.90B |
| Deuda Neta | $1.93B | $1.78B | $2.47B | $3.72B | $3.62B | $4.76B | $7.04B |
| Capital Circulante | $5.0M | $98.0M | -$230.0M | -$104.0M | -$58.0M | -$548.0M | -$587.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $339.0M | $854.0M | $794.0M | $769.0M |
| Activos Totales | $11.91B | $12.26B | $12.19B | $12.37B |
| Pasivos Totales | $8.92B | $9.25B | $9.19B | $9.35B |
| Patrimonio Neto | $2.96B | $2.98B | $2.97B | $2.99B |
| Deuda Total | $5.50B | $7.90B | $5.96B | $6.12B |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $90.0M | $81.0M | -$22.0M | $161.0M | $200.0M | $233.0M | $138.0M | $36.0M |
| Amortizaciones | $261.0M | $302.0M | $323.0M | $335.0M | $329.0M | $361.0M | $415.0M | $457.0M |
| Compensación en Acciones | 0 | $23.0M | $25.0M | $28.0M | $33.0M | $35.0M | $39.0M | $47.0M |
| Cambio en Capital Circulante | -$36.0M | -$276.0M | $34.0M | $3.0M | $4.0M | -$53.0M | -$6.0M | -$112.0M |
| Flujo de Caja Operativo | $335.0M | $145.0M | $333.0M | $455.0M | $542.0M | $558.0M | $549.0M | $434.0M |
| Inversiones (CapEx) | -$270.0M | -$222.0M | -$222.0M | -$250.0M | -$342.0M | -$274.0M | -$359.0M | -$324.0M |
| Adquisiciones | 0 | 0 | -$30.0M | $32.0M | -$876.0M | -$149.0M | -$863.0M | 0 |
| Recompra de Acciones | 0 | 0 | 0 | -$1.0M | -$16.0M | -$12.0M | -$8.0M | -$200.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $65.0M | -$77.0M | $111.0M | $205.0M | $200.0M | $284.0M | $190.0M | $110.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $232.0M | $170.0M | $31.0M | $76.0M |
| Inversiones (CapEx) | -$144.0M | -$55.0M | -$65.0M | -$65.0M |
| Flujo de Caja Libre | $88.0M | $115.0M | -$34.0M | $11.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $11.0M | $13.0M | $10.0M | $13.0M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +0.5% | +1.7% | +28.2% | +13.3% | +8.7% | +19.7% | +12.5% |
| Crecimiento Beneficio Neto (anual) | | -14.3% | -151.7% | +593.5% | +28.8% | +16.2% | -41.5% | -76.1% |
| Crecimiento BPA (anual) | | -14.8% | -151.9% | +592.6% | +26.3% | +14.9% | -42.0% | -75.0% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +0.9% | +1.7% | +1.6% | +0.3% | -2.9% |
| Crecimiento FCF (anual) | | -218.5% | +244.2% | +84.7% | -2.4% | +42.0% | -33.1% | -42.1% |
| Margen Bruto | 11.3% | 11.2% | 11.3% | 12.2% | 13.6% | 14.1% | 12.3% | 11.6% |
| Margen Operativo | 2.4% | 2.5% | 0.3% | 1.9% | 2.7% | 3.3% | 1.9% | 3.2% |
| Margen EBITDA | 6.9% | 7.4% | 5.5% | 6.4% | 6.9% | 7.0% | 5.7% | 5.3% |
| Margen Neto | 1.2% | 1.0% | -0.5% | 1.9% | 2.2% | 2.3% | 1.1% | 0.2% |
| Margen FCF | 1.1% | -1.3% | 1.8% | 2.6% | 2.2% | 2.9% | 1.6% | 0.8% |
| Tasa Impositiva Efectiva | 28.6% | 31.4% | -266.7% | -5.2% | 24.2% | 12.4% | 5.5% | 65.4% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.57 | $-0.67 | $0.97 | $1.77 | $1.70 | $2.38 | $1.59 | $0.95 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $114.6M | $114.6M | $114.6M | $114.6M | $117.0M | $118.9M | $119.4M | $115.7M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | 4.41% |
| Rentabilidad sobre capital invertido | 2.59% |
| Rentabilidad sobre activos | 1.06% |
| Margen bruto | 13.53% |
| Margen operativo | 3.01% |
| Margen neto | 0.96% |
Salud financiera
| Deuda / Patrimonio | 2.05 |
| Ratio corriente | 0.79 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 89.34 | 104.81 | -201.85 | 68.29 | 25.41 | 31.69 | 38.84 | 188.00 |
| P/VC | 0.00 | 2.43 | 2.21 | 4.43 | 1.89 | 2.50 | 1.73 | 2.04 |
| P/V | 1.03 | 1.02 | 1.01 | 1.31 | 0.56 | 0.74 | 0.44 | 0.46 |
| Margen Bruto | 11.3% | 11.2% | 11.3% | 12.2% | 13.6% | 14.1% | 12.3% | 11.6% |
| Margen Operativo | 2.4% | 2.5% | 0.3% | 1.9% | 2.7% | 3.3% | 1.9% | 3.2% |
| Margen Neto | 1.2% | 1.0% | -0.5% | 1.9% | 2.2% | 2.3% | 1.1% | 0.2% |