Company: QXO-PB
Filing Date: 2025-04-18
Form Type: 424B5
Source: 0001140361-25-014598
Chunk: 9

Company: QXO, Inc.
Filing Date: 2025-04-18
Form: 424B5
Chunk 9
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, which drive the need for waterproofing and preventative restoration.

#### Our Strengths
**We believe that our acquisition of Beacon, combined with our differentiated ability to optimize and integrate businesses to drive margin expansion and cash flow growth, establishes us as the leader in the building products distribution industry with the following key strengths:

Industry-Leading North American Distribution Platform for Exterior Building Products

Beacon is the second largest specialty wholesale distributor of roofing and complementary building products, including waterproofing products, across North America. Beacon has served the building industry for over 95 years and, as of December 31, 2024, operated 586 branches throughout all 50 states in the U.S. and seven provinces in Canada.

Beacon is strategically focused on two core markets, residential and non-residential roofing, along with complementary building products such as siding and waterproofing that are often utilized by roofing and other specialty contractors. Beacon has one of the most extensive offerings of high-quality professional grade exterior products comprising over 135,000 SKUs and serves approximately 110,000 residential and non-residential customers, helping them save time, improve efficiency and enhance productivity.

As a distributor, Beacon’s national scale, networked model and specialized capabilities are competitive advantages, providing strong value for both customers and suppliers.**

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#### TABLE OF CONTENTS

### Resilient Long-Term Financial Profile
**In 2024, Beacon achieved revenue of $9.8 billion, net income of $361.7 million and Covenant EBITDA of $1,076.2 million. See “—Summary Historical Consolidated Financial Information of Beacon” for a reconciliation of Covenant EBITDA to net income. Beacon’s financial profile is resilient, underpinned by the non-discretionary demand dynamics of the industry, along with an inherently countercyclical cash flow profile.

Since 2007, Beacon has experienced consistent revenue growth through economic cycles with organic revenue never declining more than two years in a row. Revenue held steady during the Financial Crisis, a housing-led recession, while adjusted EBITDA increased. Additionally, adjusted EBITDA growth has outpaced revenue growth since 2007.

Beacon is able to release working capital during a slowdown or contraction. In addition, its capital expenditures have been consistently less than or equal to approximately 2% of revenue.

Proven Ability to Optimize and Integrate Businesses

Our team members have differentiated experience optimizing and integrating operations to maximize revenue growth and operating margins. Over the course