NASDAQ : XNET
Xunlei Limited — Financial statements
Technology · Software - Infrastructure · China
Last price 3.55 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 226.28M
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Financial statements
Xunlei Limited (XNET) reported revenue of 493.37M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 493.37M | 460.43M | 323.14M | 363.72M | 341.50M | 238.78M |
| Cost of Revenue | 249.11M | 240.37M | 155.57M | 200.65M | 200.05M | 118.60M |
| Gross Profit | 244.26M | 220.06M | 167.57M | 163.07M | 141.44M | 120.18M |
| Selling, General & Admin | 149.11M | 131.13M | 90.67M | 90.38M | 64.54M | 60.44M |
| Research & Development | 87.13M | 80.04M | 71.57M | 74.20M | 67.68M | 61.86M |
| Operating Expenses | 235.74M | 210.91M | 162.53M | 164.69M | 131.38M | 123.50M |
| Operating Income | 8.52M | 9.14M | 5.04M | -1.61M | 10.06M | -3.33M |
| Interest Expense | -2.09M | -1.70M | -728.00K | -1.51M | -93.00K | -95.00K |
| Interest & Investment Income | 6.97M | 7.39M | 9.30M | 8.97M | 4.80M | 3.21M |
| Currency Exchange Gain (Loss) | -1.21M | -1.21M | 216.00K | 1.69M | 4.49M | -1.21M |
| Other Non Operating Income (Expenses) | -934.22M | 2.08M | 5.10M | 10.86M | 6.45M | 3.35M |
| EBT Excluding Unusual Items | -922.02M | 15.72M | 18.94M | 18.40M | 25.72M | 1.94M |
| Impairment of Goodwill | -20.75M | |||||
| Gain (Loss) on Sale of Investments | 837.71M | 1.03B | -545.00K | -302.00K | 42.00K | |
| Asset Writedown | -2.52M | -2.52M | ||||
| Legal Settlements | -997.00K | |||||
| Pretax Income | -86.83M | 1.05B | -2.36M | 18.40M | 25.41M | 983.00K |
| Income Tax Expense | 3.71M | -1.28M | -3.02M | 4.13M | 4.07M | -125.00K |
| Earnings From Continuing Operations | -90.54M | 1.05B | 663.00K | 14.27M | 21.35M | 1.11M |
| Earnings From Discontinued Operations | 18.51M | |||||
| Net Income to Company | -72.03M | 1.05B | 663.00K | 14.27M | 21.35M | 1.11M |
| Minority Interest in Earnings | 441.00K | 655.00K | 552.00K | -41.00K | 116.00K | 83.00K |
| Net Income | -71.59M | 1.05B | 1.22M | 14.22M | 21.46M | 1.19M |
| Net Income to Common | -71.59M | 1.05B | 1.22M | 14.22M | 21.46M | 1.19M |
| Shares Outstanding (Basic) | 63.03M | 62.29M | 63.75M | 65.28M | 67.21M | 66.94M |
| Shares Outstanding (Diluted) | 63.03M | 63.29M | 63.83M | 65.37M | 67.25M | 67.19M |
| EPS (Basic) | -1.14 | 16.83 | 0.02 | 0.22 | 0.32 | 0.02 |
| EPS (Diluted) | -1.14 | 16.56 | 0.02 | 0.22 | 0.32 | 0.02 |
| Free Cash Flow | 27.13M | 22.95M | 21.72M | 36.14M | 6.28M | |
| Free Cash Flow Per Share | 0.43 | 0.36 | 0.33 | 0.54 | 0.09 | |
| Gross Margin | 49.51% | 47.79% | 51.86% | 44.84% | 41.42% | 50.33% |
| Operating Margin | 1.73% | 1.99% | 1.56% | -0.44% | 2.95% | -1.39% |
| Profit Margin | -14.51% | 227.67% | 0.38% | 3.91% | 6.29% | 0.50% |
| Free Cash Flow Margin | 5.89% | 7.10% | 5.97% | 10.58% | 2.63% | |
| EBITDA | 18.01M | 17.63M | 11.54M | 3.92M | 13.82M | 4.12M |
| EBITDA Margin | 3.65% | 3.83% | 3.57% | 1.08% | 4.05% | 1.73% |
| D&A For EBITDA | 9.49M | 8.49M | 6.49M | 5.53M | 3.75M | 7.45M |
| EBIT | 8.52M | 9.14M | 5.04M | -1.61M | 10.06M | -3.33M |
| EBIT Margin | 1.73% | 1.99% | 1.56% | -0.44% | 2.95% | -1.39% |
| Effective Tax Rate | 22.45% | 16.01% | ||||
| Revenue as Reported | 493.37M | 460.43M | 323.14M | 363.72M | 341.50M | 238.78M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 125.83M | 157.02M | 177.33M | 170.80M | 177.15M | 123.36M |
| Short-Term Investments | 151.03M | 148.16M | 110.21M | 101.08M | 83.63M | 115.65M |
| Cash & Short-Term Investments | 276.86M | 305.18M | 287.54M | 271.88M | 260.78M | 239.01M |
| Accounts Receivable | 38.09M | 80.94M | 44.21M | 43.55M | 42.99M | 41.52M |
| Other Receivables | 6.86M | 25.01M | 3.55M | 19.69M | -2.57M | |
| Receivables | 38.09M | 90.60M | 72.16M | 49.18M | 62.68M | 40.66M |
| Inventory | 521.00K | 403.00K | 1.25M | 2.22M | 457.00K | 1.36M |
| Other Current Assets | 18.20M | 3.50M | 2.08M | 4.09M | 8.27M | 12.89M |
| Total Current Assets | 333.67M | 399.67M | 363.03M | 327.38M | 332.18M | 293.93M |
| Property, Plant & Equipment | 52.17M | 56.73M | 55.88M | 60.60M | 62.60M | 57.68M |
| Long-Term Investments | 674.16M | 1.07B | 30.60M | 32.13M | 30.81M | 31.50M |
| Goodwill | 40.42M | 39.16M | 20.83M | 21.18M | 23.14M | |
| Other Intangible Assets | 32.51M | 32.72M | 8.31M | 5.70M | 6.55M | 8.30M |
| Long-Term Deferred Tax Assets | 25.65M | 10.08M | 10.53M | 478.00K | 213.00K | |
| Other Long-Term Assets | 3.02M | 1.30M | 3.34M | 266.00K | 8.25M | 5.39M |
| Total Assets | 1.18B | 1.63B | 473.90M | 468.69M | 463.32M | 440.72M |
| Accounts Payable | 19.84M | 41.97M | 22.96M | 24.43M | 25.43M | 26.50M |
| Accrued Expenses | 68.51M | 56.10M | 41.18M | 37.33M | 35.18M | 31.28M |
| Current Portion of Long-Term Debt | 30.83M | 37.21M | 2.09M | 6.91M | 7.02M | 2.88M |
| Current Portion of Leases | 466.00K | 487.00K | 253.00K | 276.00K | 283.00K | 18.00K |
| Current Income Taxes Payable | 3.08M | 4.34M | 9.39M | 6.39M | 5.59M | 2.53M |
| Current Unearned Revenue | 41.78M | 52.96M | 39.94M | 36.38M | 38.97M | 36.89M |
| Other Current Liabilities | 15.39M | 10.93M | 16.38M | 15.82M | 19.79M | |
| Total Current Liabilities | 164.50M | 208.45M | 126.74M | 128.09M | 128.29M | 119.88M |
| Long-Term Debt | 25.69M | 38.41M | 27.13M | 15.54M | 24.75M | 17.29M |
| Long-Term Leases | 824.00K | 1.25M | 161.00K | 229.00K | 299.00K | 7.00K |
| Long-Term Unearned Revenue | 1.57M | 1.62M | 458.00K | 846.00K | 876.00K | 845.00K |
| Long-Term Deferred Tax Liabilities | 5.57M | 6.14M | 1.15M | 513.00K | 687.00K | 930.00K |
| Other Long-Term Liabilities | 942.00K | 3.53M | 480.00K | |||
| Total Liabilities | 199.11M | 259.41M | 156.12M | 145.21M | 154.90M | 138.95M |
| Common Stock | 79.00K | 78.00K | 77.00K | 81.00K | 81.00K | 84.00K |
| Additional Paid-In Capital | 475.92M | 480.13M | 477.24M | 482.48M | 477.50M | 476.06M |
| Retained Earnings | 517.62M | 910.68M | -137.59M | -138.80M | -153.03M | -174.49M |
| Comprehensive Income & Other | -9.82M | -17.40M | -21.68M | -18.90M | -14.66M | 2.00M |
| Total Common Equity | 983.79M | 1.37B | 318.06M | 324.86M | 309.89M | 303.65M |
| Minority Interest | -1.47M | -974.00K | -271.00K | -1.39M | -1.47M | -1.88M |
| Shareholders' Equity | 982.32M | 1.37B | 317.79M | 323.47M | 308.42M | 301.77M |
| Total Liabilities & Equity | 1.18B | 1.63B | 473.90M | 468.69M | 463.32M | 440.72M |
| Total Debt | 57.82M | 77.36M | 29.63M | 22.95M | 32.36M | 20.19M |
| Net Cash (Debt) | 219.04M | 227.81M | 257.91M | 248.93M | 228.42M | 218.82M |
| Net Cash Per Share | 3.47 | 3.60 | 4.04 | 3.81 | 3.40 | 3.26 |
| Filing Date Shares Outstanding | 63.74M | 62.86M | 62.37M | 64.38M | 64.76M | 67.49M |
| Total Common Shares Outstanding | 63.74M | 62.86M | 61.47M | 64.71M | 65.01M | 67.45M |
| Working Capital | 169.16M | 191.22M | 236.30M | 199.29M | 203.89M | 174.05M |
| Book Value Per Share | 15.43 | 21.85 | 5.17 | 5.02 | 4.77 | 4.50 |
| Tangible Book Value | 910.86M | 1.30B | 309.75M | 298.34M | 282.17M | 272.21M |
| Tangible Book Value Per Share | 14.29 | 20.71 | 5.04 | 4.61 | 4.34 | 4.04 |
| Buildings | 47.42M | 47.15M | 48.32M | 47.90M | ||
| Machinery | 22.41M | 19.74M | 19.91M | 17.93M | 18.61M | |
| Construction In Progress | 50.26M | |||||
| Leasehold Improvements | 7.43M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.05B | 1.22M | 14.22M | 21.46M | 1.19M | |
| Depreciation & Amortization | 9.54M | 6.93M | 6.08M | 3.81M | 9.38M | |
| Loss (Gain) From Sale of Assets | 74.00K | -82.00K | 1.00K | 2.00K | 31.00K | |
| Asset Writedown & Restructuring Costs | 2.52M | 20.75M | 1.15M | |||
| Loss (Gain) From Sale of Investments | -1.03B | 329.00K | -1.39M | -214.00K | -404.00K | |
| Stock-Based Compensation | 3.84M | 2.45M | 9.68M | 8.18M | 6.17M | |
| Provision & Write-off of Bad Debts | -262.00K | 288.00K | 100.00K | -844.00K | 1.21M | |
| Other Operating Activities | -4.13M | -11.36M | -351.00K | -552.00K | 52.00K | |
| Change in Accounts Receivable | -27.37M | -2.04M | -2.00M | -5.98M | -2.17M | |
| Change in Inventory | 387.00K | 925.00K | -1.80M | 851.00K | -36.00K | |
| Change in Accounts Payable | 15.60M | -1.52M | -598.00K | 1.06M | 5.24M | |
| Change in Unearned Revenue | 3.56M | 3.58M | -1.95M | 5.74M | 2.11M | |
| Change in Income Taxes | -5.71M | 3.08M | 904.00K | 3.43M | -77.00K | |
| Change in Other Net Operating Assets | 18.54M | 6.44M | 1.68M | 14.15M | -3.22M | |
| Operating Cash Flow | 32.48M | 30.98M | 25.72M | 51.11M | 19.48M | |
| Capital Expenditures | -5.35M | -8.03M | -3.99M | -14.97M | -13.20M | |
| Sale of Property, Plant & Equipment | 155.00K | 114.00K | 15.00K | 6.00K | 207.00K | |
| Cash Acquisitions | -52.13M | -2.12M | ||||
| Divestitures | -2.94M | |||||
| Sale (Purchase) of Intangibles | -447.00K | -322.00K | -499.00K | -8.00K | -84.00K | |
| Investment in Securities | -38.77M | -10.01M | -18.82M | 26.66M | 637.00K | |
| Other Investing Activities | 396.00K | -1.54M | -599.00K | 67.00K | -20.18M | |
| Investing Cash Flow | -99.10M | -21.91M | -23.90M | 11.76M | -32.62M | |
| Long-Term Debt Issued | 62.54M | 33.39M | 4.25M | 16.66M | 2.20M | |
| Long-Term Debt Repaid | -16.11M | -26.62M | -13.09M | -3.34M | -2.42M | |
| Total Debt Repaid | -16.11M | -26.62M | -13.09M | -3.34M | -2.42M | |
| Net Debt Issued (Repaid) | 46.43M | 6.77M | -8.84M | 13.31M | -223.00K | |
| Repurchase of Common Stock | -951.00K | -7.69M | -4.69M | -6.75M | ||
| Other Financing Activities | 76.00K | |||||
| Financing Cash Flow | 45.48M | -925.00K | -13.52M | 6.64M | -223.00K | |
| Foreign Exchange Rate Adjustments | 1.42M | -1.39M | -2.30M | -12.14M | 2.01M | |
| Net Cash Flow | -19.72M | 6.75M | -14.01M | 57.37M | -11.35M | |
| Free Cash Flow | 27.13M | 22.95M | 21.72M | 36.14M | 6.28M | |
| Free Cash Flow Margin | 5.89% | 7.10% | 5.97% | 10.58% | 2.63% | |
| Free Cash Flow Per Share | 0.43 | 0.36 | 0.33 | 0.54 | 0.09 | |
| Levered Free Cash Flow | 39.59M | -12.78M | 25.14M | -9.24M | 8.09M | |
| Unlevered Free Cash Flow | 40.65M | -12.32M | 26.09M | -9.18M | 8.15M | |
| Cash Interest Paid | 1.18M | 578.00K | 1.38M | |||
| Cash Income Tax Paid | 4.22M | 4.20M | 2.53M | 1.18M | 66.00K | |
| Change in Working Capital | 5.01M | 10.46M | -3.77M | 19.26M | 1.84M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 226.28M | 445.20M | 126.15M | 105.81M | 121.02M | 134.65M |
| Enterprise Value | 7.24M | 230.81M | -131.47M | -127.53M | -99.82M | -77.70M |
| Last Close Price | 3.55 | 7.09 | 1.99 | 1.62 | 1.82 | 2.01 |
| PE Ratio | 0.42 | 103.83 | 7.44 | 5.64 | 113.06 | |
| Forward PE | 13.07 | 13.07 | 13.07 | 13.07 | 13.07 | |
| PS Ratio | 0.46 | 0.97 | 0.39 | 0.29 | 0.35 | 0.56 |
| PB Ratio | 0.23 | 0.32 | 0.40 | 0.33 | 0.39 | 0.45 |
| P/TBV Ratio | 0.25 | 0.34 | 0.41 | 0.35 | 0.43 | 0.49 |
| P/FCF Ratio | 8.34 | 16.41 | 5.50 | 4.87 | 3.35 | 21.45 |
| P/OCF Ratio | 13.71 | 4.07 | 4.12 | 2.37 | 6.91 | |
| PEG Ratio | 1.60 | 1.60 | 1.60 | 1.60 | 1.60 | |
| EV/Sales Ratio | 0.01 | 0.50 | ||||
| EV/EBITDA Ratio | 0.40 | 13.09 | ||||
| EV/EBIT Ratio | 0.85 | 25.24 | ||||
| EV/FCF Ratio | 0.27 | 8.51 | ||||
| Debt / Equity Ratio | 0.06 | 0.06 | 0.09 | 0.07 | 0.10 | 0.07 |
| Debt / EBITDA Ratio | 0.32 | 0.48 | 0.26 | 0.19 | 0.27 | 0.23 |
| Debt / FCF Ratio | 2.85 | 1.29 | 1.06 | 0.90 | 3.22 | |
| Net Debt / Equity Ratio | -0.22 | -0.17 | -0.81 | -0.77 | -0.74 | -0.72 |
| Net Debt / EBITDA Ratio | -12.16 | -12.92 | -22.35 | -63.57 | -16.53 | -53.09 |
| Net Debt / FCF Ratio | -8.40 | -11.24 | -11.46 | -6.32 | -34.85 | |
| Asset Turnover | 0.40 | 0.44 | 0.69 | 0.78 | 0.76 | 0.56 |
| Inventory Turnover | 339.38 | 289.95 | 89.56 | 149.96 | 219.84 | 76.79 |
| Quick Ratio | 1.92 | 1.89 | 2.81 | 2.49 | 2.52 | 2.32 |
| Current Ratio | 2.03 | 1.92 | 2.86 | 2.56 | 2.59 | 2.45 |
| Return on Equity (ROE) | -8.93% | 123.95% | 0.21% | 4.52% | 7.00% | 0.37% |
| Return on Assets (ROA) | 0.43% | 0.54% | 0.67% | -0.22% | 1.39% | -0.48% |
| Return on Invested Capital (ROIC) | 0.99% | 1.52% | 7.51% | -1.62% | 10.38% | -4.75% |
| Return on Capital Employed (ROCE) | 0.80% | 0.60% | 1.50% | -0.50% | 3.00% | -1.00% |
| Earnings Yield | -31.99% | 235.46% | 0.96% | 13.44% | 17.73% | 0.88% |
| FCF Yield | 11.99% | 6.09% | 18.19% | 20.53% | 29.86% | 4.66% |
| Buyback Yield / Dilution | -0.45% | 0.84% | 2.36% | 2.79% | -0.08% | 0.43% |