DXP ENTERPRISES INC

Listed Company

DXPECIK 0001020710NasdaqLarge AcceleratedWholesale-Industrial Machinery & EquipmentTexasFY ends Dec 31

Period

FY 2025

Revenue

$2.02B

Net Income

$88.68M

Total Assets

$1.69B

Equity

$498.44M

Shares Out

15.52M

Op. Cash Flow

$94.26M

Business

DXP ENTERPRISES INC distributes maintenance, repair and operating (MRO) products, equipment and related services to industrial and energy end markets. It offers a broad range of MRO products and services including bearings, power transmission, rotating equipment, metalworking and safety products, custom pump skid packages, pump remanufacturing, repair, technical support and integrated supply programs. The company operates through three business segments—Service Centers (SC), Innovative Pumping Solutions (IPS) and Supply Chain Services (SCS)—plus centralized corporate support. It serves customers across the United States, Canada, Mexico and select international locations using service centers, distribution centers, on‑site supply chain installations and direct sales channels.

Summary from filing dated 2025-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	2,016	1,802	1,679	1,481	1,114
Cost of sales	1,380	1,246	1,173	1,059	785
Gross profit	636	556	505	422	329
Selling, general and administrative expenses	459	411	367	324	289
Income from operations	177	145	139	98	40
Interest expense	61	64	53	29	—
Other (income) expense, net	−3	−4	−1	3	−414,000
Income before income taxes	119	85	87	66	19
Provision for income taxes (Note 10)	31	14	18	18	3
Net income	89	70	69	48	16
Preferred stock dividend	90,000	90,000	90,000	90,000	90,000
Net income attributable to common shareholders	89	70	69	48	16
Foreign currency translation adjustments	3	−2	435,000	−2	747,000
Comprehensive income	92	68	69	46	16
Basic (in dollars per share)	5.65	4.44	4.07	2.58	0.87
Diluted (in dollars per share)	5.37	4.22	3.89	2.47	0.83
Basic (in shares)	16	16	17	19	19
Diluted (in shares)	17	17	18	19	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	304	148	173	46	49
Restricted cash	0	91,000	91,000	91,000	91,000
Accounts receivable, net of allowance of $3,995 and $5,172, respectively	398	339	311	321	218
Inventories	108	103	104	101	101
Costs and estimated profits in excess of billings	54	51	42	24	17
Prepaid expenses and other current assets	47	20	18	24	10
Total current assets	910	662	649	516	405
Property and equipment, net	115	82	62	46	—
Goodwill	495	452	344	334	297
Other intangible assets, net	81	86	64	80	79
Operating lease right of use assets, net	75	47	49	57	57
Other long-term assets	9	21	11	4	5
Total assets	1,685	1,349	1,177	1,037	894
Current maturities of debt	9	7	6	4	3
Trade accounts payable	117	104	96	93	78
Accrued wages and benefits	51	42	36	26	23
Customer advances	15	14	12	20	13
Billings in excess of costs and estimated profits	16	13	10	10	4
Short-term operating lease liabilities	19	15	15	18	18
Other current liabilities	46	51	49	41	42
Total current liabilities	272	244	224	213	181
Long-term debt, net of unamortized debt issuance costs and discounts	818	622	521	409	315
Long-term operating lease liabilities	58	33	34	40	40
Other long-term liabilities	38	28	17	10	4
Total long-term liabilities	914	683	572	459	366
Total liabilities	1,187	927	797	672	548
Commitments and Contingencies (Note 17)	—	—	—	—	—
Common stock, $0.01 par value, 100,000,000 shares authorized; 20,403,647 issued and 15,513,590 outstanding at December 31, 2025 and 20,402,861 issued and 15,695,088 outstanding at December 31, 2024	204,000	204,000	345,000	345,000	195,000
Additional paid-in capital	221	220	216	214	207
Retained earnings	478	390	319	251	202
Accumulated other comprehensive loss	−31	−34	−31	−32	−29
Treasury stock, at cost 4,890,057 and 4,707,773 shares, respectively	−170	−153	−124	−68	−34
Total DXP Enterprises, Inc. equity	498	423	381	365	347
Total liabilities and equity	1,685	1,349	1,177	1,037	894

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	10	9	8	10	10
Amortization of intangibles and finance lease assets	28	24	22	19	17
Amortization of debt issuance costs	4	4	3	2	2
Gain on sale of property and equipment	−491,000	0	0	0	−282,000
Provision for (recovery of) credit losses	220,000	−887,000	−885,000	659,000	67,000
Payment of contingent consideration liability in excess of acquisition-date fair value	−1	−108,000	−160,000	−781,000	−45,000
Fair value adjustment on contingent consideration	1	745,000	2	2	504,000
Loss on debt extinguishment	0	494,000	1	0	0
Restricted stock compensation expense	6	5	3	2	2
Deferred income taxes	27	−15	−9	—	—
Other non-cash items	−11	4	2	—	—
Accounts receivable	−42	−13	13	−94	−44
Cost and estimated profits in excess of billings	−3	−9	−19	−6	4
Inventories	1	8	−2	2	−5
Prepaid expenses and other assets	−6	3	4	−12	649,000
Trade accounts payable	532,000	−3	2	—	—
Accrued expenses	18	2	6	—	—
Billings in excess of costs and estimated profits	3	3	−916,000	7	−772,000
Income taxes	−31	9	3	—	—
Net cash provided by operating activities	94	102	106	6	37
Purchase of property and equipment	−40	−25	−12	−5	−6
Proceeds from the sale of property and equipment	3	0	0	0	2
Acquisition of businesses, net of cash acquired	−62	−157	−10	−49	−65
Net cash used in investing activities	−99	−182	−23	−53	−69
Borrowings on asset-backed credit facility	0	6	8	827	0
Repayments on asset-backed credit facility	0	−6	−8	−827	0
Proceeds from issuance of Senior Secured Term Loan B, net of deferred financing costs	848	650	550	—	—
Repayments on Senior Secured Term Loan B	−643	−545	−425	—	—
Principal payments on debt	−7	−6	−5	—	—
Debt issuance costs	−3	−2	−12	−8	0
Shares repurchased held in treasury	−17	−29	−56	−48	−34
Payment for acquisition contingent consideration liability	−8	−5	−6	−469,000	−955,000
Preferred stock dividends paid	−90,000	−90,000	−90,000	−90,000	−90,000
Payment for employee taxes withheld from stock awards	−5	−2	−527,000	−292,000	−637,000
Principal payments on finance leases	−7	−4	−2	0	0
Net cash provided by financing activities	159	57	44	44	−38
Effect of foreign currency on cash	1	−2	−60,000	253,000	88,000
Net change in cash and restricted cash	155	−25	127	−3	−70

Filings

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