QXO to Acquire TopBuild, Expanding Building Products Reach
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QXO Inc ( (QXO) ) just unveiled an update.
On April 18, 2026, QXO Inc. agreed to acquire TopBuild Corp. in a cash-and-stock deal valuing TopBuild at about $17 billion, with consideration capped at roughly 45% cash and 55% QXO shares, and a per-share value of $505. The boards of both companies approved the merger, which is subject to shareholder and regulatory clearances, includes a $600 million reverse termination fee framework, and is backed by a $3 billion term loan plus up to $3 billion in bridge financing.
The transaction, announced publicly on April 19, 2026 and expected to close in the third quarter of 2026, would make QXO the second-largest publicly traded building products distributor in North America, with more than $18 billion in combined revenue and over $2 billion in adjusted EBITDA. By adding TopBuild’s leading insulation platform to QXO’s roofing, waterproofing and lumber businesses—and following QXO’s $2.25 billion Kodiak acquisition completed on April 1, 2026—the deal expands QXO’s addressable market above $300 billion, is projected to be immediately and substantially earnings-accretive, and is expected to deliver about $300 million of synergies by 2030 while giving QXO critical mass in high-growth segments such as large, complex construction projects.
The most recent analyst rating on (QXO) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on QXO Inc stock, see the QXO Stock Forecast page.
Spark’s Take on QXO Stock
According to Spark, TipRanks’ AI Analyst, QXO is a Neutral.
The score is held back primarily by weak profitability and bearish technical momentum (price below key moving averages with negative MACD), partially offset by a well-capitalized balance sheet, positive free cash flow, and strategic expansion through the Kodiak acquisition and related financing.
To see Spark’s full report on QXO stock, click here.
More about QXO Inc
QXO Inc., listed on the NYSE, is the largest publicly traded distributor of roofing, waterproofing and related products and the second-largest publicly traded distributor of lumber and building materials in North America. The company operates across an $800 billion building-products distribution market and is pursuing a consolidation strategy, targeting $50 billion in annual revenue within the next decade through acquisitions and organic growth.
TopBuild Corp., also NYSE-listed and based in Daytona Beach, is North America’s largest distributor and installer of insulation and related building products, serving residential, commercial and industrial markets. It offers insulation for walls, attics, floors and roofing assemblies, along with complementary products and specialized roofing systems, and runs more than 450 locations across the U.S. and Canada.
Average Trading Volume: 7,486,544
Technical Sentiment Signal: Sell
Current Market Cap: $16.48B
For detailed information about QXO stock, go to TipRanks’ Stock Analysis page.
