GXO GXO Logistics, Inc. Common Stock
$47.62
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$45–$67
10% of range
Analyst Rating
BUY
21 analysts
Price Target
$69
+44% upside
P/E (TTM)
170.8
ROE
1.1%
Net Profit Margin
0.24%
GXO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$47.62
Market Cap
$5.48B
P/E (TTM)
170.8
EPS (TTM)
$0.28
Revenue (TTM)
$13.18B
Div Yield
—
ROE
1.1%
Debt/Equity
—
52W Range
$45 – $67
GXO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$13.18B
2019-12-31
→
2025-12-31
EPS
$0.28
2019-12-31
→
2025-12-31
Free Cash Flow
$110M
2021-12-31
→
2025-12-31
Margins
0.24%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GXO
Peer Median
P/E (TTM)
170.8
21.6
P/S (TTM)
0.4
0.5
P/B
1.8
2.0
Price / FCF
49.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GXO
Peer Median
Operating Margin
1.9%
—
Net Profit Margin
0.24%
0.98%
ROA
0.27%
-1.1%
ROE
1.1%
-27.6%
ROIC
2.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GXO
Peer Median
Current Ratio
0.8
1.2
Quick Ratio
0.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GXO
Peer Median
Revenue YoY
12.6%
—
Revenue CAGR 3Y
13.6%
—
Revenue CAGR 5Y
16.3%
—
EPS YoY
-75.0%
—
Net Income YoY
-76.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GXO
Peer Median
GXO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
21 analysts
- Strong Buy 6 28.6%
- Buy 13 61.9%
- Hold 2 9.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
17 analysts · 2026-08-18
Median
$65.00
Mean
$68.71
← Below all targets
$47.62
Low
$55.00
High
$90.00
Median target
$65.00
+36.5%
Mean target
$68.71
+44.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.59 | $0.59 | 0.00% |
| March 31, 2026 | $0.50 | $0.37 | 0.13% |
| Dec. 31, 2025 | $0.87 | $0.85 | 0.02% |
| Sept. 30, 2025 | $0.79 | $0.79 | -0.00% |
| June 30, 2025 | $0.57 | $0.55 | 0.02% |
| March 31, 2025 | $0.29 | $0.26 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GXO | $6.03B | 188.0 | 12.6% | 0.24% | 1.1% | — |
| UPS | — | 15.1 | -2.6% | 6.3% | 33.8% | — |
| FDX | — | 17.9 | 7.7% | 4.7% | 14.8% | — |
| EXPD | $19.95B | 25.0 | 4.4% | 7.3% | 35.4% | — |
| CHRW | $19.04B | 33.3 | -8.4% | 3.6% | 32.4% | — |
| HUBG | — | 26.2 | -6.1% | 2.6% | 6.3% | — |
| FWRD | $783M | -7.1 | 0.84% | -4.3% | -68.4% | — |
| AIRTP | $52M | 0.7 | 12.1% | 23.8% | 203.6% | — |
| AIRT | $46M | -7.6 | 1.8% | -2.1% | -790.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $13.18B | $11.71B | $9.78B | $8.99B | $7.94B | $6.20B | |
| SG&A Expense | $1.11B | $1.06B | $998M | $886M | $714M | $611M | |
| Operating Income | $245M | $218M | $318M | $242M | $151M | $16M | |
| Interest Expense | · | · | $53M | $29M | $21M | $24M | |
| Other Non-op | $-8M | $31M | $1M | $51M | · | · | |
| Pretax Income | $104M | $146M | $266M | $264M | $153M | $-6M | |
| Income Tax | $68M | $8M | $33M | $64M | $-8M | $16M | |
| Net Income | $32M | $134M | $229M | $197M | $153M | $-31M | |
| EPS (Basic) | $0.28 | $1.12 | $1.93 | $1.68 | $1.33 | $-0.27 | |
| EPS (Diluted) | $0.28 | $1.12 | $1.92 | $1.67 | $1.32 | $-0.27 | |
| Shares (Basic) | 115,677,000 | 119,413,000 | 118,908,000 | 117,050,000 | 114,632,000 | 114,626,000 | |
| Shares (Diluted) | 116,303,000 | 119,798,000 | 119,490,000 | 117,616,000 | 115,597,000 | 114,626,000 | |
| EBITDA | $702M | $633M | $679M | $571M | $486M | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $854M | $413M | $468M | $495M | $333M | $328M | |
| Receivables | $2.03B | $1.80B | $1.75B | $1.65B | $1.51B | $1.22B | |
| Other Current Assets | $406M | $429M | $347M | $286M | $259M | $284M | |
| Current Assets | $3.29B | $2.64B | $2.57B | $2.43B | $2.10B | $1.84B | |
| Goodwill | $3.78B | $3.55B | $2.89B | $2.73B | $2.02B | $2.06B | |
| Intangibles | $909M | $986M | $567M | $570M | $257M | $299M | |
| Other Non-current Assets | $570M | $601M | $327M | $306M | $263M | $146M | |
| Total Assets | $12.26B | $11.27B | $9.51B | $9.22B | $7.27B | $6.55B | |
| Accounts Payable | $758M | $776M | $709M | $717M | $624M | $415M | |
| Accrued Liabilities | $1.49B | $1.27B | $966M | $995M | $998M | $784M | |
| Current Liabilities | $3.88B | $3.19B | $2.63B | $2.53B | $2.33B | $1.74B | |
| Capital Leases | $2.04B | $1.90B | $1.84B | $1.85B | $1.39B | $1.10B | |
| Deferred Tax | $224M | $256M | $141M | $160M | $71M | $54M | |
| Other Non-current Liabilities | $709M | $623M | $473M | $417M | $234M | $148M | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $0 | |
| Paid-in Capital | $2.67B | $2.63B | $2.60B | $2.58B | $2.35B | $0 | |
| Retained Earnings | $718M | $686M | $552M | $323M | $126M | $0 | |
| Treasury Stock | $202M | $0 | · | · | · | · | |
| AOCI | $-201M | $-313M | $-239M | $-254M | $-130M | $58M | |
| Stockholders' Equity | $2.98B | $3.00B | $2.91B | $2.65B | $2.35B | $2.82B | |
| Liabilities + Equity | $12.26B | $11.27B | $9.51B | $9.22B | $7.27B | $6.55B | |
| Shares Outstanding | 114,512,000 | 119,496,000 | 119,057,000 | 118,728,000 | 114,659,000 | 0 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $457M | $415M | $361M | $329M | $335M | $323M | |
| Stock-based Comp | $47M | $39M | $35M | $33M | $28M | $25M | |
| Deferred Tax | $-29M | $-38M | $-41M | $-7M | $-48M | $-26M | |
| Amort. of Intangibles | $119M | $108M | $71M | $68M | $61M | $61M | |
| Restructuring | $27M | $25M | $25M | $32M | $4M | $29M | |
| Other Non-cash | $-73M | $-1M | $-26M | $-10M | $-13M | · | |
| Operating Cash Flow | $434M | $549M | $558M | $542M | $455M | $333M | |
| CapEx | $324M | $359M | $274M | $342M | $250M | $222M | |
| Investing Cash Flow | $-196M | $-1.16B | $-410M | $-1.15B | $-207M | $-280M | |
| Debt Issued | $577M | $1.10B | $0 | · | · | · | |
| Net Debt Issued | $577M | · | · | · | · | · | |
| Stock Repurchased | $200M | $0 | $0 | · | · | · | |
| Net Stock Activity | $-200M | · | · | · | · | · | |
| Financing Cash Flow | $111M | $636M | $-186M | $787M | $-241M | $67M | |
| Net Change in Cash | $372M | $15M | $-25M | $162M | $5M | $128M | |
| Taxes Paid | $59M | $43M | $84M | $111M | $75M | $27M | |
| Free Cash Flow | $110M | $190M | $284M | $200M | $205M | · | |
| Levered FCF | · | · | $238M | $178M | $183M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | 1.9% | 1.9% | 3.2% | 2.7% | 1.9% | · | |
| Net Margin | 0.24% | 1.1% | 2.3% | 2.2% | 1.9% | · | |
| Pretax Margin | 0.79% | 1.2% | 2.7% | 2.9% | 1.9% | · | |
| EBITDA Margin | 5.3% | 5.4% | 6.9% | 6.3% | 6.1% | · | |
| ROA | 0.27% | 1.3% | 2.5% | 2.4% | 2.2% | · | |
| ROE | 1.1% | 4.5% | 8.2% | 7.9% | 5.9% | · | |
| ROIC | 2.8% | 6.9% | 9.6% | 6.9% | 6.8% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.8 | 1.0 | 1.0 | 0.9 | · | |
| Quick Ratio | 0.7 | 0.7 | 0.8 | 0.8 | 0.8 | · | |
| Interest Coverage | · | · | 6.0 | 8.3 | 7.2 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 1.1 | 1.0 | 1.1 | 1.1 | · | |
| Receivables Turnover | 6.9 | 6.6 | 5.8 | 5.7 | 5.8 | · |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.6% | 19.8% | 8.7% | 13.3% | 28.2% | · | |
| Revenue CAGR 3Y | 13.6% | 13.8% | 16.4% | · | · | · | |
| Revenue CAGR 5Y | 16.3% | · | · | · | · | · | |
| EPS YoY | -75.0% | -41.7% | 15.0% | 26.5% | · | · | |
| EPS CAGR 3Y | -44.9% | -5.3% | · | · | · | · | |
| Net Income YoY | -76.1% | -41.5% | 16.2% | 28.8% | · | · | |
| Net Income CAGR 3Y | -45.4% | -4.3% | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $13.18B | $11.71B | $9.78B | $8.99B | $7.94B | · | |
| Net Income TTM | $32M | $134M | $229M | $197M | $153M | · | |
| Market Cap | $6.03B | $5.20B | $7.28B | $4.89B | $10.41B | · | |
| P/E | 188.0 | 38.8 | 31.9 | 25.6 | 68.8 | · | |
| P/S | 0.5 | 0.4 | 0.7 | 0.5 | 1.3 | · | |
| P/B | 2.0 | 1.7 | 2.5 | 1.9 | 4.4 | · | |
| P / Tangible Book | · | · | · | · | 135.3 | · | |
| P / Cash Flow | 13.9 | 9.5 | 13.0 | 9.0 | 22.9 | · | |
| P / FCF | 54.8 | 27.4 | 25.6 | 24.5 | 50.8 | · | |
| Earnings Yield | 0.53% | 2.6% | 3.1% | 3.9% | 1.5% | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.44B | $3.30B | $3.51B | $3.40B | $3.30B | $2.98B | $3.25B | $3.16B | $2.85B | $2.46B | $2.59B | $2.47B | $2.39B | $2.32B | $2.47B | $2.29B | |
| SG&A Expense | $295M | $296M | $288M | $285M | $272M | $261M | $277M | $265M | $270M | $249M | $237M | $258M | $245M | $258M | $249M | $227M | |
| Operating Income | $77M | $39M | $94M | $118M | $89M | $-56M | $101M | $81M | $75M | $-39M | $87M | $90M | $99M | $42M | $74M | $72M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $13M | · | $14M | $14M | $13M | · | $6M | |
| Other Non-op | $6M | $10M | $2M | $5M | $-10M | $-5M | $30M | $-6M | $1M | $6M | $-7M | $7M | · | · | $-5M | $17M | |
| Pretax Income | $48M | $17M | $66M | $88M | $43M | $-93M | $97M | $42M | $53M | $-46M | $68M | $83M | $86M | $29M | $59M | $83M | |
| Income Tax | $21M | $12M | $23M | $28M | $15M | $2M | $-3M | $7M | $14M | $-10M | $-5M | $15M | $20M | $3M | $13M | $19M | |
| Net Income | $25M | $4M | $43M | $59M | $26M | $-96M | $100M | $33M | $38M | $-37M | $73M | $66M | $65M | $25M | $46M | $63M | |
| EPS (Basic) | $0.22 | $0.03 | $0.34 | $0.52 | $0.23 | $-0.81 | $0.83 | $0.28 | $0.32 | $-0.31 | $0.62 | $0.55 | $0.55 | $0.21 | $0.39 | $0.53 | |
| EPS (Diluted) | $0.22 | $0.03 | $0.35 | $0.51 | $0.23 | $-0.81 | $0.83 | $0.28 | $0.32 | $-0.31 | $0.62 | $0.55 | $0.54 | $0.21 | $0.38 | $0.53 | |
| Shares (Basic) | 115,013,000 | 114,710,000 | -232,599,000 | 114,473,000 | 114,812,000 | 118,991,000 | -238,748,000 | 119,461,000 | 119,427,000 | 119,273,000 | -237,741,000 | 118,941,000 | 118,927,000 | 118,781,000 | -232,433,000 | 118,621,000 | |
| Shares (Diluted) | 115,718,000 | 115,840,000 | -233,072,000 | 115,329,000 | 115,055,000 | 118,991,000 | -238,951,000 | 119,793,000 | 119,683,000 | 119,273,000 | -238,801,000 | 119,645,000 | 119,415,000 | 119,231,000 | -233,664,000 | 119,065,000 | |
| EBITDA | $194M | $154M | · | $236M | $199M | $53M | · | $192M | $174M | $53M | · | $191M | $183M | $125M | · | $72M |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $769M | $794M | $854M | $339M | $205M | $288M | $413M | $548M | $469M | $423M | $468M | $473M | $305M | $426M | $495M | $434M | |
| Receivables | $2.07B | $2.02B | $2.03B | $2.02B | $1.95B | $1.90B | $1.80B | $1.97B | $1.91B | $1.67B | · | $1.66B | $1.72B | $1.60B | · | $1.51B | |
| Other Current Assets | $414M | $397M | $406M | $452M | $434M | $446M | $429M | $443M | $419M | $375M | · | $332M | $282M | $280M | · | $301M | |
| Current Assets | $3.25B | $3.21B | $3.29B | $2.81B | $2.59B | $2.63B | $2.64B | $2.96B | $2.80B | $2.46B | · | $2.47B | $2.31B | $2.31B | · | $2.24B | |
| Goodwill | $3.73B | $3.73B | $3.78B | $3.78B | $3.83B | $3.62B | $3.55B | $3.68B | $3.66B | $2.87B | $2.89B | $2.73B | $2.80B | $2.77B | $2.73B | $2.60B | |
| Intangibles | $839M | $865M | $909M | $959M | $1.01B | $977M | $986M | $1.06B | $942M | $542M | · | $507M | $544M | $555M | · | $576M | |
| Other Non-current Assets | $593M | $577M | $570M | $577M | $592M | $511M | $601M | $542M | $520M | $362M | · | $328M | $315M | $327M | · | $413M | |
| Total Assets | $12.37B | $12.19B | $12.26B | $11.91B | $11.93B | $11.32B | $11.27B | $11.90B | $11.36B | $9.38B | · | $9.09B | $9.13B | $9.09B | · | $8.81B | |
| Accounts Payable | $707M | $713M | $758M | $716M | $691M | $720M | $776M | $748M | $690M | $615M | · | $597M | $566M | $652M | · | $568M | |
| Accrued Liabilities | $1.45B | $1.44B | $1.49B | $1.52B | $1.38B | $1.40B | $1.27B | $1.41B | $1.29B | $976M | · | $975M | $950M | $908M | · | $952M | |
| Current Liabilities | $4.12B | $3.77B | $3.88B | $3.93B | $3.41B | $3.37B | $3.19B | $3.43B | $3.27B | $2.62B | · | $2.43B | $2.40B | $2.42B | · | $2.27B | |
| Capital Leases | $2.14B | $2.10B | $2.04B | $2.06B | $2.14B | $1.91B | $1.90B | $2.07B | $1.98B | $1.84B | · | $1.80B | $1.84B | $1.80B | · | $1.70B | |
| Deferred Tax | · | · | $224M | · | · | · | $256M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $639M | $668M | $709M | $749M | $806M | $595M | $623M | $704M | $626M | $505M | · | $419M | $449M | $453M | · | $444M | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | $1.62B | $1.70B | · | · | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Paid-in Capital | $2.68B | $2.67B | $2.67B | $2.65B | $2.65B | $2.63B | $2.63B | $2.62B | $2.61B | $2.60B | · | $2.59B | $2.59B | $2.58B | · | $2.57B | |
| Retained Earnings | $747M | $722M | $718M | $675M | $616M | $590M | $686M | $586M | $553M | $515M | · | $479M | $413M | $348M | · | $277M | |
| Treasury Stock | $218M | $202M | $202M | $202M | $202M | $111M | $0 | · | · | · | · | · | · | · | · | · | |
| AOCI | $-223M | $-222M | $-201M | $-174M | $-120M | $-245M | $-313M | $-101M | $-263M | $-249M | · | $-289M | $-223M | $-244M | · | $-278M | |
| Stockholders' Equity | $2.99B | $2.97B | $2.98B | $2.96B | $2.94B | $2.87B | $3.00B | $3.11B | $2.90B | $2.87B | · | $2.78B | $2.78B | $2.69B | · | $2.57B | |
| Liabilities + Equity | $12.37B | $12.19B | $12.26B | $11.91B | $11.93B | $11.32B | $11.27B | $11.90B | $11.36B | $9.38B | · | $9.09B | $9.13B | $9.09B | · | $8.81B | |
| Shares Outstanding | 114,770,000 | 115,024,000 | 114,512,000 | 114,486,000 | 114,452,000 | 116,955,000 | 119,496,000 | 119,472,000 | 119,437,000 | 119,368,000 | 119,057,000 | 118,951,000 | 118,932,000 | 118,889,000 | 118,728,000 | 118,629,000 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $117M | $115M | $120M | $118M | $110M | $109M | $113M | $111M | $99M | $92M | $93M | $101M | $84M | $83M | $87M | $89M | |
| Stock-based Comp | $13M | $10M | $13M | $11M | $11M | $12M | $9M | $11M | $11M | $8M | $10M | $7M | $9M | $9M | $9M | $8M | |
| Deferred Tax | $2M | $-3M | $-5M | $1M | $-15M | $-10M | $-1M | $-21M | $-14M | $-2M | $-12M | $-12M | $-10M | $-7M | $-7M | $-3M | |
| Amort. of Intangibles | $28M | $29M | · | · | $30M | $29M | · | · | · | · | · | · | · | · | · | · | |
| Restructuring | $5M | $3M | $5M | $3M | $2M | $17M | $-1M | $9M | $1M | $16M | $-6M | $7M | $3M | $21M | $18M | $0 | |
| Other Non-cash | · | $-95M | · | · | · | $14M | · | · | · | $-11M | · | · | · | $-71M | · | · | |
| Operating Cash Flow | $76M | $31M | $170M | $232M | $3M | $29M | $186M | $198M | $115M | $50M | $215M | $243M | $61M | $39M | $226M | $116M | |
| CapEx | $65M | $65M | $55M | $144M | $47M | $78M | $104M | $94M | $88M | $73M | $69M | $55M | $59M | $91M | $103M | $85M | |
| Investing Cash Flow | $-64M | $-62M | $-27M | $-46M | $-46M | $-77M | $-50M | $-93M | $-932M | $-82M | $-218M | $-52M | $-58M | $-82M | $-93M | $-53M | |
| Stock Repurchased | $18M | $0 | $0 | $0 | $94M | $106M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $0 | · | · | · | $-106M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-36M | $-26M | $377M | $-39M | $-161M | $-66M | $-193M | $-28M | $865M | $-8M | $-16M | $-15M | $-126M | $-29M | $-76M | $-6M | |
| Net Change in Cash | $-24M | $-60M | $513M | $137M | $-175M | $-103M | $-84M | $98M | $46M | $-45M | $-4M | $169M | $-121M | $-69M | $61M | $50M | |
| Free Cash Flow | · | $-34M | · | · | · | $-49M | · | · | · | $-23M | · | · | · | $-52M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-33M | · | · | · | $-64M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 2.2% | 1.2% | · | 3.5% | 2.7% | -1.9% | · | 2.6% | 2.6% | -1.6% | · | 3.6% | 4.1% | 1.8% | · | 3.1% | |
| Net Margin | 0.73% | 0.12% | · | 1.7% | 0.79% | -3.2% | · | 1.1% | 1.3% | -1.5% | · | 2.7% | 2.7% | 1.1% | · | 2.8% | |
| Pretax Margin | 1.4% | 0.52% | · | 2.6% | 1.3% | -3.1% | · | 1.3% | 1.9% | -1.9% | · | 3.4% | 3.6% | 1.2% | · | 3.6% | |
| EBITDA Margin | 5.6% | 4.7% | · | 7.0% | 6.0% | 1.8% | · | 6.1% | 6.1% | 2.2% | · | 7.7% | 7.6% | 5.4% | · | 3.1% | |
| ROA | 0.21% | 0.03% | · | 0.50% | 0.22% | -0.93% | · | 0.31% | 0.37% | -0.40% | · | 0.74% | 0.73% | 0.31% | · | 0.79% | |
| ROE | 0.84% | 0.14% | · | 1.9% | 0.89% | -3.4% | · | 1.1% | 1.3% | -1.3% | · | 2.5% | 2.5% | 0.99% | · | 2.6% | |
| ROIC | 1.5% | 0.39% | · | 2.7% | 2.0% | -2.0% | · | 2.2% | 1.9% | -1.1% | · | 2.6% | 1.7% | 0.86% | · | 2.2% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.9 | · | 0.7 | 0.8 | 0.8 | · | 0.9 | 0.9 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | |
| Quick Ratio | 0.7 | 0.7 | · | 0.6 | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.8 | · | 0.9 | 0.8 | 0.8 | · | 0.9 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | 0.6 | 0.6 | · | · | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | 0.6 | 0.6 | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -3.0 | · | 6.4 | 7.1 | 3.2 | · | 12.0 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | |
| Receivables Turnover | 1.7 | 1.7 | · | 1.7 | 1.7 | 1.7 | · | 1.7 | 1.6 | 1.5 | · | 1.6 | 1.5 | 1.5 | · | 1.6 |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $13.43B | $12.97B | · | $12.83B | $12.28B | $11.44B | · | $10.93B | $10.17B | $9.64B | · | $9.47B | $9.16B | $8.85B | · | $8.50B | |
| Net Income TTM | $114M | $-7M | · | $22M | $1M | $-62M | · | $100M | $132M | $119M | · | $219M | $204M | $176M | · | $223M | |
| Market Cap | $5.82B | $5.96B | · | $6.06B | $5.57B | $4.57B | · | $6.22B | $6.03B | $6.42B | · | $6.98B | $7.47B | $6.00B | · | $4.16B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | $8.79B | $7.27B | · | · | |
| P/E | 51.2 | -1296.2 | · | 251.9 | 2435.0 | -75.2 | · | 62.0 | 45.9 | 54.3 | · | 32.0 | 36.5 | 33.6 | · | 18.4 | |
| P/S | 0.4 | 0.5 | · | 0.5 | 0.5 | 0.4 | · | 0.6 | 0.6 | 0.7 | · | 0.7 | 0.8 | 0.7 | · | 0.5 | |
| P/B | 1.9 | 2.0 | · | 2.0 | 1.9 | 1.6 | · | 2.0 | 2.1 | 2.2 | · | 2.5 | 2.7 | 2.2 | · | 1.6 | |
| P / Cash Flow | · | 192.4 | · | · | · | 157.6 | · | · | · | 128.3 | · | · | · | 153.8 | · | · | |
| P / FCF | · | -175.4 | · | · | · | -93.3 | · | · | · | -279.0 | · | · | · | -115.4 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | · | · | · | 48.0 | 58.2 | · | · | |
| EV / FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | -139.8 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | · | 1.0 | 0.8 | · | · | |
| Earnings Yield | 1.9% | -0.08% | · | 0.40% | 0.04% | -1.3% | · | 1.6% | 2.2% | 1.8% | · | 3.1% | 2.7% | 3.0% | · | 5.5% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $13.18B | $11.71B | $9.78B | $8.99B | $7.94B |
| Operating Margin % | 1.9% | 1.9% | 3.2% | 2.7% | 1.9% |
| Net Income | $32M | $134M | $229M | $197M | $153M |
| Diluted EPS | $0.28 | $1.12 | $1.92 | $1.67 | $1.32 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.8 | 1.0 | 1.0 | 0.9 |
| Quick Ratio | 0.7 | 0.7 | 0.8 | 0.8 | 0.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $110M | $190M | $284M | $200M | $205M |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 526 filers · $4.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 71 (-5 vs prior Q) | 48 (-4 vs prior Q) | 163 (+9 vs prior Q) | 149 (-3 vs prior Q) | +4.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| SPRUCE HOUSE INVESTMENT MANAGEMENT LLC | $266,175,000 | 5,250,000 | 6.11% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $263,701,955 | 5,201,222 | 6.06% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $249,190,906 | 4,915,008 | 5.72% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $247,451,693 | 4,880,704 | 5.68% | Shares |
| Clearbridge Investments, LLC | $239,386,422 | 4,721,626 | 5.50% | Shares |
| FMR LLC | $200,944,735 | 3,963,407 | 4.61% | Shares |
| STATE STREET CORP | $194,538,131 | 3,837,044 | 4.47% | Shares |
| River Road Asset Management, LLC | $165,421,628 | 3,262,754 | 3.80% | Shares |
| Khrom Capital Management LLC | $144,653,032 | 2,853,117 | 3.32% | Shares |
| ALLIANCEBERNSTEIN L.P. | $118,591,579 | 2,287,205 | 2.72% | Shares |
| NEUBERGER BERMAN GROUP LLC | $115,407,092 | 2,276,274 | 2.65% | Shares |
| Focus Partners Wealth | $104,953,766 | 2,070,094 | 2.41% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $85,099,716 | 1,677,942 | 1.95% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $63,193,088 | 1,246,412 | 1.45% | Shares |
| BROWN BROTHERS HARRIMAN & CO | $61,675,688 | 1,216,483 | 1.42% | Shares |
| SUMMITRY LLC | $58,240,409 | 1,148,726 | 1.34% | Shares |
| Rokos Capital Management LLP | $56,343,276 | 1,110,869 | 1.29% | Shares |
| Global Alpha Capital Management Ltd. | $53,069,211 | 1,046,730 | 1.22% | Shares |
| NORGES BANK | $52,449,708 | 1,034,511 | 1.20% | Shares |
| Engaged Capital LLC | $49,927,788 | 984,769 | 1.15% | Shares |
| Balyasny Asset Management L.P. | $49,745,066 | 981,165 | 1.14% | Shares |
| AXA Investment Managers S.A. | $49,304,481 | 932,208 | 1.13% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $46,152,768 | 910,311 | 1.06% | Shares |
| Parsifal Capital Management, LP | $46,067,642 | 908,632 | 1.06% | Shares |
| SG Capital Management LLC | $44,060,987 | 869,053 | 1.01% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $36,868,787 | 727,195 | 0.85% | Shares |
| VANGUARD GROUP INC | $36,613,910 | 695,553 | 0.84% | Shares |
| Qube Research & Technologies Ltd | $35,176,826 | 693,823 | 0.81% | Shares |
| Walleye Trading LLC | $34,983,000 | 690,000 | 0.80% | Put option |
| Engineers Gate Manager LP | $32,691,715 | 644,807 | 0.75% | Shares |
| Arvin Capital Management LP | $30,324,938 | 598,125 | 0.70% | Shares |
| WELLS FARGO & COMPANY/MN | $28,807,740 | 568,200 | 0.66% | Call option |
| MILFORD FUNDS LTD | $26,362,834 | 519,977 | 0.61% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $26,359,437 | 519,910 | 0.61% | Shares |
| Orbis Allan Gray Ltd | $23,029,613 | 454,233 | 0.53% | Shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | $22,711,521 | 447,959 | 0.52% | Shares |
| Bridgewater Associates, LP | $21,816,666 | 430,309 | 0.50% | Shares |
| CITADEL ADVISORS LLC | $21,714,404 | 428,292 | 0.50% | Shares |
| RAYMOND JAMES FINANCIAL INC | $21,554,497 | 425,138 | 0.49% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $20,942,801 | 413,073 | 0.48% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,407,960 | 382,800 | 0.45% | Put option |
| BNP PARIBAS FINANCIAL MARKETS | $18,278,871 | 360,530 | 0.42% | Shares |
| Swedbank AB | $17,998,500 | 355,000 | 0.41% | Shares |
| Blue Door Asset Management, LLC | $17,962,655 | 354,293 | 0.41% | Shares |
| Penn Capital Management Company, LLC | $16,084,646 | 316,639 | 0.37% | Shares |
| RHUMBLINE ADVISERS | $15,509,993 | 305,918 | 0.36% | Shares |
| Gotham Asset Management, LLC | $15,266,581 | 301,116 | 0.35% | Shares |
| Rathbones Group PLC | $14,933,837 | 294,553 | 0.34% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $14,929,578 | 294,469 | 0.34% | Shares |
| WINTON GROUP Ltd | $14,618,331 | 288,330 | 0.34% | Shares |
| Douglas Lane & Associates, LLC | $14,526,361 | 286,516 | 0.33% | Shares |
| GOLDMAN SACHS GROUP INC | $14,071,430 | 277,543 | 0.32% | Shares |
| Point72 Europe (London) LLP | $14,020,875 | 265,095 | 0.32% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $13,445,437 | 265,196 | 0.31% | Shares |
| LUMINUS MANAGEMENT LLC | $13,345,102 | 263,217 | 0.31% | Shares |
| WELLS FARGO & COMPANY/MN | $13,156,650 | 259,500 | 0.30% | Shares |
| BlackRock, Inc. | $12,995,627 | 256,324 | 0.30% | Shares |
| California Public Employees Retirement System | $12,991,672 | 256,246 | 0.30% | Shares |
| Aristotle Capital Boston, LLC | $12,178,337 | 240,204 | 0.28% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $12,127,237 | 239,196 | 0.28% | Shares |
| Swiss National Bank | $11,671,799 | 230,213 | 0.27% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,627,690 | 229,343 | 0.27% | Shares |
| FIRST TRUST ADVISORS LP | $11,331,128 | 223,497 | 0.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,930,920 | 215,600 | 0.25% | Call option |
| 683 Capital Management, LLC | $10,900,500 | 215,000 | 0.25% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $10,652,070 | 210,100 | 0.24% | Shares |
| JANE STREET GROUP, LLC | $10,515,180 | 207,400 | 0.24% | Call option |
| AGMAN CAPITAL LLC | $10,455,658 | 206,226 | 0.24% | Shares |
| Hudson Bay Capital Management LP | $10,281,504 | 202,791 | 0.24% | Shares |
| Retirement Systems of Alabama | $9,544,833 | 188,261 | 0.22% | Shares |
| CIBC WORLD MARKET INC. | $9,330,068 | 184,025 | 0.21% | Shares |
| MORGAN STANLEY | $9,321,601 | 183,858 | 0.21% | Shares |
| KIRR MARBACH & CO LLC /IN/ | $8,967,918 | 176,882 | 0.21% | Shares |
| CITADEL ADVISORS LLC | $8,750,820 | 172,600 | 0.20% | Put option |
| Foster Victor Wealth Advisors, LLC | $8,618,987 | 173,525 | 0.20% | Shares |
| LOOMIS SAYLES & CO L P | $8,084,267 | 159,453 | 0.19% | Shares |
| Motley Fool Asset Management LLC | $8,059,627 | 158,967 | 0.19% | Shares |
| Atom Investors LP | $7,953,461 | 156,873 | 0.18% | Shares |
| Pekin Hardy Strauss, Inc. | $7,684,396 | 151,566 | 0.18% | Shares |
| Great Hill Capital LLC | $7,570,169 | 149,313 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $6,935,975 | 133,770 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $6,930,690 | 136,700 | 0.16% | Call option |
| WASHINGTON TRUST Co | $6,870,408 | 135,511 | 0.16% | Shares |
| Varenne Capital Partners | $6,844,218 | 135,089 | 0.16% | Shares |
| Point72 Asset Management, L.P. | $6,712,072 | 132,388 | 0.15% | Shares |
| Lagoda Investment Management, L.P. | $6,556,017 | 129,310 | 0.15% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $6,417,151 | 126,571 | 0.15% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $6,357,780 | 125,400 | 0.15% | Shares |
| BARCLAYS PLC | $6,350,378 | 125,254 | 0.15% | Shares |
| FIRETRAIL INVESTMENTS PTY LTD | $6,297,596 | 124,971 | 0.14% | Shares |
| AMERIPRISE FINANCIAL INC | $6,242,945 | 123,135 | 0.14% | Shares |
| JANE STREET GROUP, LLC | $5,952,180 | 117,400 | 0.14% | Put option |
| Squarepoint Ops LLC | $5,780,408 | 114,012 | 0.13% | Shares |
| FIFTH THIRD BANCORP | $5,775,948 | 113,925 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $5,645,496 | 111,351 | 0.13% | Shares |
| Gilman Hill Asset Management, LLC | $5,605,696 | 110,566 | 0.13% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $5,558,489 | 109,635 | 0.13% | Shares |
| INTRINSIC EDGE CAPITAL MANAGEMENT LLC | $5,248,058 | 103,512 | 0.12% | Shares |
| XTX Topco Ltd | $5,243,343 | 103,419 | 0.12% | Shares |
| Brevan Howard Capital Management LP | $5,170,386 | 101,980 | 0.12% | Shares |
Company insiders 16 insiders · 5 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Malcolm Wilson | Chief Executive Officer | March 15, 2022 M | 36,409 | 0 | 0 | $0 |
| Paul Blanchett | Chief Accounting Officer | March 16, 2022 M | 2,866 | 0 | 0 | $0 |
| Karlis Kirsis | Chief Legal Officer | March 15, 2022 M | 24,421 | 0 | 0 | $0 |
| Maryclaire Hammond | Chief Human Resources Officer | March 10, 2022 M | 8,243 | 0 | 0 | $0 |
| Elizabeth Fogarty | Chief Communications Officer | Sept. 1, 2021 A | — | 0 | 0 | $0 |
| Jacobs S Bradley | Director | Aug. 11, 2022 S | 1,300,701 | 0 | 0 | $0 |
| Gena L Ashe | Director | March 1, 2022 S | 0 | 0 | 0 | $0 |
| Clare Chatfield | Director | Jan. 3, 2022 A | 1,073 | 0 | 0 | $0 |
| Joli L. Gross | Director | Jan. 3, 2022 A | 1,612 | 0 | 0 | $0 |
| Marlene M Colucci | Director | Jan. 3, 2022 A | — | 0 | 0 | $0 |
| Jason D Papastavrou | Director | Jan. 3, 2022 A | — | 0 | 0 | $0 |
| Jacobs Private Equity, LLC | 10% owner | April 13, 2022 S | 6,468,201 | 0 | 0 | $0 |
| Laura L. Bracken | — | Aug. 1, 2026 A | 2,932 | 0 | 0 | $0 |
| Patrick J Byrne | — | May 20, 2026 A | 3,265 | 0 | 0 | $0 |
| Michael Kneeland | — | May 20, 2026 A | 6,587 | 0 | 0 | $0 |
| Oren Shaffer | — | Jan. 2, 2025 M | 102,858 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Jacobs Private Equity, LLC, Bradley S. Jacobs ×3 filings | Aug. 12, 2022 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 93 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TMFM · RBB Fund, Inc. | 4.61% | 107,358 NS | May 31, 2026 | N-PORT |
| TMFS · RBB Fund, Inc. | 4.33% | 51,136 NS | May 31, 2026 | N-PORT |
| XMVM · Invesco Exchange-Traded Fund Trust | 1.19% | 125,720 SH | Aug. 8, 2026 | Daily |
| SUPL · ProShares Trust | 1.04% | 480 NS | May 31, 2026 | N-PORT |
| ROBO · EXCHANGE TRADED CONCEPTS TRUST | 0.93% | 289,631 NS | April 30, 2026 | N-PORT |
| TAX · EA Series Trust | 0.83% | 4,213 NS | May 29, 2026 | N-PORT |
| RFV · Invesco Exchange-Traded Fund Trust | 0.81% | 57,141 SH | Aug. 8, 2026 | Daily |
| IYT · iShares Trust | 0.68% | 323,594 SH | Aug. 8, 2026 | Daily |
| TPOR · Direxion Shares ETF Trust | 0.67% | 2,103 NS | April 30, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.54% | 150,223 SH | Aug. 8, 2026 | Daily |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.47% | 57,471 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.40% | 1,780 NS | April 30, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.34% | 98,801 SH | Aug. 8, 2026 | Daily |
| SHPP · Pacer Funds Trust | 0.31% | 110 NS | April 30, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.31% | 70,402 NS | April 30, 2026 | N-PORT |
| IJJ · iShares Trust | 0.31% | 585,214 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.30% | 4,204 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.29% | 1,867 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.27% | 358,357 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.23% | 155 NS | May 29, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.21% | 31,776 NS | May 31, 2026 | N-PORT |
| DFVE · DoubleLine ETF Trust | 0.19% | 1,014 NS | March 31, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.19% | 13,154 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.19% | 458,578 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.17% | 15,962 SH | Aug. 8, 2026 | Daily |
| FFLV · FIDELITY COVINGTON TRUST | 0.17% | 529 NS | April 30, 2026 | N-PORT |
| XJH · iShares Trust | 0.17% | 15,564 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.16% | 185,631 SH | Aug. 8, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.16% | 4,387,000 | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.15% | 3,969,477 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.14% | 356,135 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 47,343 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.13% | 1,897 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.12% | 3,956 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.12% | 550,021 NS | May 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.12% | 1,675,230 SH | Aug. 8, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.11% | 309,105 NS | May 31, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.11% | 119,000 | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.10% | 14,367 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.09% | 34,153 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.09% | 55,878 SH | Aug. 8, 2026 | Daily |
| UMDD · ProShares Trust | 0.09% | 553 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.08% | 5,092 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.08% | 139,070 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.08% | 17,505 NS | April 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.07% | 15,418 SH | Aug. 8, 2026 | Daily |
| SMMD · iShares Trust | 0.07% | 56,925 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.07% | 1,319,934 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.07% | 2,638,859 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.06% | 1,408 NS | April 30, 2026 | N-PORT |