At a glance
DXP Enterprises Inc is worth $2.60B, about 31 times its fiscal 2025 earnings. Revenue grew 11.9% to $2.02B in fiscal 2025, with 4.4% kept as profit; over 5 years it has grown 14.9% a year. It pays a dividend, raised every year for at least 4 years, and returned $184.2M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +37.2% over the past year with dividends reinvested and +38.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 66.5% in the 2020 crash (S&P 500: 33.7%) and 30.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 8 months after the lows.
The business in plain English
Houston-based DXP Enterprises, founded in 1908, distributes MRO products: maintenance, repair and operating supplies such as pumps, bearings, hoses and safety gear that plants need to keep running. It is a first-tier distributor, which means it buys directly from manufacturers. It sells to customers in oil and gas, chemicals, food and beverage, water and wastewater, and general industry. Sales reached about $2.0 billion in fiscal 2025 (the year ended December 31, 2025).
Service Centers is the core, with $1.37 billion, or 68.1% of fiscal 2025 sales. Its 164 branches and four distribution centers offer more than 1,000,000 items, same-day delivery and repair services. Innovative Pumping Solutions (19.4%, about $390 million) designs custom pump packages, rebuilds pumps and makes private-label pumps. It also supplies water and wastewater equipment to municipalities and contractors. Supply Chain Services (12.5%, about $253 million) works at 89 customer sites, where DXP can take over purchasing and inventory management.
Most sales come from purchase orders won by DXP's own sales force. As of December 31, 2025, DXP had 293 locations, with facilities in 39 US states, nine Canadian provinces and one city each in the United Arab Emirates, India and Saudi Arabia. Canada made up only about 5.2% of Service Centers revenue. Energy is a key market, and DXP warns that low or volatile oil prices can reduce demand.
Price history
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DXPE +37.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Service Centers | $1.37B | 68.1% |
| Innovative Pumping Solutions | $390.3M | 19.4% |
| Supply Chain Services | $252.9M | 12.5% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $576.5M, up 15.6% from a year earlier, and net income was $28.7M (+21.6%).
- For fiscal 2025, revenue was $2.02B (+11.9% year over year; +14.9% a year from FY2020 to FY2025) with a 4.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +14.9% good |
|---|---|
| Operating margin | 8.8% watch |
| Free cash flow margin | 2.7% watch |
| Return on equity (FY2025) | 17.8% good |
| Return on assets (FY2025) | 5.3% watch |
| Net cash (cash minus debt) | $-598.3M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.01B | $-29.3M | $103.0M |
| FY2021 | $1.11B | $16.5M | $31.1M |
| FY2022 | $1.48B | $48.2M | $978K |
| FY2023 | $1.68B | $68.8M | $94.0M |
| FY2024 | $1.80B | $70.5M | $77.1M |
| FY2025 | $2.02B | $88.7M | $54.0M |
Valuation snapshot
| Market value | $2.60B |
|---|---|
| P/E ratio | 31.2 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
DXP Enterprises’s market value went from $602.3M at the end of 2016 to $2.60B on Oct 28, 2026, about 4.3 times as much; since the end of 2025 it is up 51%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.60B | +51.2% |
| 2025 | $1.72B | +32.8% |
| 2024 | $1.30B | +137.9% |
| 2023 | $545.1M | +5.5% |
| 2022 | $517.0M | +7.4% |
| 2021 | $481.3M | +21.7% |
| 2020 | $395.5M | -43.6% |
| 2019 | $700.8M | +43.3% |
| 2018 | $489.2M | -4.9% |
| 2017 | $514.3M | -14.6% |
| 2016 | $602.3M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| DXPE price data to Oct 28, 2026 | +52.7% | +37.2% | +74.0% | +38.7% | +22.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +52.7% |
| 2025 | +32.9% |
| 2024 | +145.2% |
| 2023 | +22.3% |
| 2022 | +7.3% |
| 2021 | +15.5% |
| 2020 | -44.2% |
| 2019 | +43.0% |
| 2018 | -5.8% |
| 2017 | -14.9% |
| 2016 | +52.4% |
| 2015 | -54.9% |
| 2014 | -56.1% |
| 2013 | +134.8% |
| 2012 | +52.4% |
| 2011 | +34.2% |
| 2010 | +83.6% |
| 2009 | -10.5% |
| 2008 | -37.4% |
| 2007 | +33.2% |
| 2006 | +103.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 55.6% over that stretch · deepest drop along the way 74.2%, back to its old high 33.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 64.5% over that stretch · deepest drop along the way 66.5%, back to its old high 11.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 4.4% over that stretch · deepest drop along the way 30.8%, back to its old high 8.2 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 5 sales ($3.7M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 11, 2026 | Paz Maestas CMO & CTO | sell | $1.6M |
| May 21, 2026 | Timothy P Halter Director | sell | $969K |
| Mar 26, 2026 | Timothy P Halter Director | sell | $698K |
| Mar 9, 2026 | Joseph R Mannes Director | sell | $207K |
| Jun 15, 2026 | David Molero Santos CHIEF ACCOUNTING OFFICER | sell | $189K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 15% | Mar 31, 2026 |
| BlackRock, Inc. | 12.1% | Mar 31, 2025 |
| Wellington Management Group LLP | 5.3% | Jun 30, 2026 |
| Dimensional Fund Advisors LP | 4.9% | Sep 30, 2025 |
ETFs with the most weight in DXPE
| TXSS Texas Capital Texas Small Cap Equity Index ETF | 1.99% |
| RZG Invesco S&P SmallCap 600® Pure Growth ETF | 1.61% |
| VAMO Cambria Value & Momentum ETF | 0.7% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.66% |
| AFSM First Trust Active Factor Small Cap ETF | 0.48% |
| PSCI Invesco S&P SmallCap Industrials ETF | 0.48% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.48% |
| XSMO Invesco S&P SmallCap Momentum ETF | 0.47% |
What could go wrong
- Manufacturers could go direct or drop DXP. DXP distributes other companies' products. Manufacturers could deal directly with end users or cancel oral or written distribution authorizations on little or no notice. Losing a key supplier could hurt sales and profits.
- Exposure to oil and gas downturns. Low or volatile oil prices and lower energy-industry spending can cut demand for DXP's products and services. The company warns a sector slump could also make it harder to meet lender requirements.
- Large debt load and loan covenants. As of June 30, 2026, total debt was $824.9 million against $226.6 million in cash. Missing loan covenants (financial tests set by lenders) or failing to refinance on good terms could lead to default.
- Acquisitions may disappoint or need write-downs. DXP grows partly by acquiring other businesses. Deals may not pay off, financing may dry up, and goodwill, the premium paid for past purchases, could be written down, reducing reported earnings.
- Custom pump projects can slip or shrink. Pump-package projects can be delayed, cost more than estimated or be terminated, possibly triggering liquidated damages (contract penalties). Backlog, the orders not yet filled, can also be cut or canceled unexpectedly.
- Thin margins squeezed by product costs. Net profit was 4.4% of sales in fiscal 2025. If manufacturers raise prices and DXP can't pass them on, or cut prices and shrink inventory values, margins could fall.
Recent events
- Other company announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Other company announcement
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Other company announcement
- Quarterly results released
For income and retirement investors
DXP is not an income stock. It paid $90,000 in dividends each year from fiscal 2020 through 2025: about half a cent per share ($0.0055 in fiscal 2025), roughly 0.1% of earnings and 0.2% of free cash flow (cash left after capital spending). The per-share figure rose four years running only because the share count shrank, by 16.4% from August 2021 to August 2026. Buybacks have been the main payout: $183.7 million over fiscal 2021–2025, though the pace slowed from $56.2 million in 2023 to $17.1 million in 2025.
Anyone counting on DXP for retirement spending would have to cash in shares, and the price has swung hard. It fell 74.2% in the 2008 financial crisis and took about 34 months to recover, dropped 66.5% in the 2020 COVID crash before recovering within about a year, and lost 30.8% during the 2022 bear market. Its worst drop from a peak was 90.4%. Single stocks carry more risk than diversified funds.
Questions investors ask
How does DXP Enterprises make money?
DXP makes money by distributing industrial parts and equipment and providing related services. It purchases maintenance, repair and operating (MRO) products such as pumps, bearings, hoses and safety supplies directly from manufacturers and delivers them to industrial customers. In fiscal 2025, sales were $2.0 billion: Service Centers brought in 68.1%, Innovative Pumping Solutions (custom pump packages and water projects) 19.4%, and Supply Chain Services (on-site purchasing and inventory management) 12.5%. Its gross margin, the share of sales left after product costs, was 31.5%.
Does DXP Enterprises pay a dividend?
Only a token amount. DXP paid $90,000 in dividends each year from fiscal 2020 through 2025, about half a cent per share ($0.0055 in fiscal 2025) and roughly 0.1% of earnings. The total stayed flat; the per-share amount rose only because the share count fell. DXP has returned far more through buybacks: $183.7 million over fiscal 2021–2025. For an income investor, almost all of the return would come from share-price changes, not payouts.
Is DXP Enterprises an oil and gas stock?
Partly. DXP serves many industries, including general industrial, chemical, food and beverage, transportation, and water and wastewater, but oil and gas and refining are among the main customer groups for its Service Centers. Its annual report warns that low or volatile oil prices and cuts in energy-industry spending could reduce demand, and that an oil and gas downturn could make it harder to meet loan covenants, the financial tests its lenders require.
How much debt does DXP Enterprises have?
DXP had $824.9 million of total debt as of June 30, 2026, against $226.6 million in cash and investments, leaving net debt of about $598.3 million. Shareholders' equity (assets minus liabilities) was $540.7 million. The company disclosed new debt obligations in SEC filings on December 22, 2025 and July 10, 2026. Its annual report warns that missing loan covenants (financial tests set by lenders) or failing to refinance on favorable terms could hurt results or lead to default.
What is DXP Enterprises' P/E ratio?
DXP's price-to-earnings (P/E) ratio was about 31.2 as of October 28, 2026, based on fiscal 2025 diluted earnings of $5.37 per share. The P/E shows how much investors pay for each dollar of yearly profit. The shares had climbed 52.7% year to date and 37.2% over one year as of that date, and the stock has been volatile, with a one-year beta of 1.87, meaning it tended to move nearly twice as much as the market.