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Side-by-side financial comparison of Incyte (INCY) and RXO, Inc. (RXO). Click either name above to swap in a different company.
RXO, Inc. is the larger business by last-quarter revenue ($1.5B vs $1.3B, roughly 1.2× Incyte). Incyte runs the higher net margin — 23.8% vs -3.1%, a 27.0% gap on every dollar of revenue. On growth, Incyte posted the faster year-over-year revenue change (19.8% vs -11.9%). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% CAGR vs 10.4%).
Incyte Corporation is an American multinational pharmaceutical company with headquarters in Wilmington, Delaware. The company currently operates manufacturing and R&D locations in North America, Europe, and Asia.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
INCY vs RXO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.5B |
| Net Profit | $303.3M | $-46.0M |
| Gross Margin | — | — |
| Operating Margin | 23.7% | -2.9% |
| Net Margin | 23.8% | -3.1% |
| Revenue YoY | 19.8% | -11.9% |
| Net Profit YoY | 91.7% | -84.0% |
| EPS (diluted) | $1.47 | $-0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.0B | $930.0M |
| Q1 26 | $303.3M | — | ||
| Q4 25 | $299.3M | $-46.0M | ||
| Q3 25 | $424.2M | $-14.0M | ||
| Q2 25 | $405.0M | $-9.0M | ||
| Q1 25 | $158.2M | $-31.0M | ||
| Q4 24 | $201.2M | $-25.0M | ||
| Q3 24 | $106.5M | $-243.0M | ||
| Q2 24 | $-444.6M | $-7.0M |
| Q1 26 | — | — | ||
| Q4 25 | 92.0% | — | ||
| Q3 25 | 92.8% | — | ||
| Q2 25 | 93.5% | — | ||
| Q1 25 | 93.0% | — | ||
| Q4 24 | 92.5% | — | ||
| Q3 24 | 92.4% | — | ||
| Q2 24 | 92.7% | — |
| Q1 26 | 23.7% | — | ||
| Q4 25 | 22.3% | -2.9% | ||
| Q3 25 | 32.5% | -0.5% | ||
| Q2 25 | 43.6% | — | ||
| Q1 25 | 19.5% | -2.1% | ||
| Q4 24 | 25.6% | -1.4% | ||
| Q3 24 | 12.8% | -1.9% | ||
| Q2 24 | -45.8% | — |
| Q1 26 | 23.8% | — | ||
| Q4 25 | 19.9% | -3.1% | ||
| Q3 25 | 31.1% | -1.0% | ||
| Q2 25 | 33.3% | -0.6% | ||
| Q1 25 | 15.0% | -2.2% | ||
| Q4 24 | 17.1% | -1.5% | ||
| Q3 24 | 9.4% | -23.4% | ||
| Q2 24 | -42.6% | -0.8% |
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.46 | $-0.28 | ||
| Q3 25 | $2.11 | $-0.08 | ||
| Q2 25 | $2.04 | $-0.05 | ||
| Q1 25 | $0.80 | $-0.18 | ||
| Q4 24 | $0.90 | $-0.17 | ||
| Q3 24 | $0.54 | $-1.81 | ||
| Q2 24 | $-2.04 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $17.0M |
| Total DebtLower is stronger | — | $387.0M |
| Stockholders' EquityBook value | $5.6B | $1.5B |
| Total Assets | $7.3B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $17.0M | ||
| Q3 25 | $2.5B | $25.0M | ||
| Q2 25 | $2.0B | $18.0M | ||
| Q1 25 | $1.9B | $16.0M | ||
| Q4 24 | $1.7B | $35.0M | ||
| Q3 24 | $1.3B | $55.0M | ||
| Q2 24 | $987.3M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.2B | $1.5B | ||
| Q3 25 | $4.7B | $1.6B | ||
| Q2 25 | $4.2B | $1.6B | ||
| Q1 25 | $3.7B | $1.6B | ||
| Q4 24 | $3.4B | $1.6B | ||
| Q3 24 | $3.2B | $1.7B | ||
| Q2 24 | $3.0B | $579.0M |
| Q1 26 | $7.3B | — | ||
| Q4 25 | $7.0B | $3.3B | ||
| Q3 25 | $6.3B | $3.2B | ||
| Q2 25 | $5.8B | $3.2B | ||
| Q1 25 | $5.7B | $3.3B | ||
| Q4 24 | $5.4B | $3.4B | ||
| Q3 24 | $5.0B | $3.4B | ||
| Q2 24 | $4.7B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $7.0M |
| Free Cash FlowOCF − Capex | — | $-9.0M |
| FCF MarginFCF / Revenue | — | -0.6% |
| Capex IntensityCapex / Revenue | — | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $543.3M | $7.0M | ||
| Q3 25 | $559.4M | $23.0M | ||
| Q2 25 | $44.7M | $23.0M | ||
| Q1 25 | $266.1M | $-2.0M | ||
| Q4 24 | $381.2M | $-7.0M | ||
| Q3 24 | $310.9M | $-7.0M | ||
| Q2 24 | $-575.6M | $-5.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-9.0M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | — | $-18.0M | ||
| Q2 24 | — | $-16.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.6% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | — | -1.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.89× | — | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INCY
Segment breakdown not available.
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
