NASDAQ : XPEL
XPEL, Inc. — Financial statements
Consumer Discretionary · Auto Parts · United States
Last price 45.78 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.26B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
XPEL, Inc. (XPEL) reported revenue of 508.09M 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 | 508.09M | 476.20M | 420.40M | 396.29M | 323.99M | 259.26M |
| Cost of Revenue | 290.11M | 275.18M | 243.04M | 233.88M | 196.48M | 166.59M |
| Gross Profit | 217.98M | 201.02M | 177.36M | 162.41M | 127.51M | 92.68M |
| Selling, General & Admin | 149.52M | 138.37M | 118.21M | 95.44M | 73.58M | 52.56M |
| Operating Expenses | 149.52M | 138.37M | 118.21M | 95.44M | 73.58M | 52.56M |
| Operating Income | 68.46M | 62.65M | 59.15M | 66.97M | 53.94M | 40.12M |
| Interest Expense | -266.00K | -83.00K | -996.00K | -1.25M | -1.41M | -303.00K |
| Currency Exchange Gain (Loss) | 903.00K | 1.50M | -1.37M | 307.00K | -562.00K | -373.00K |
| EBT Excluding Unusual Items | 69.09M | 64.06M | 56.78M | 66.03M | 51.97M | 39.44M |
| Pretax Income | 69.09M | 64.06M | 56.78M | 66.03M | 51.97M | 39.44M |
| Income Tax Expense | 13.49M | 12.47M | 11.29M | 13.23M | 10.58M | 7.87M |
| Earnings From Continuing Operations | 55.60M | 51.59M | 45.49M | 52.80M | 41.38M | 31.57M |
| Minority Interest in Earnings | -868.00K | -363.00K | ||||
| Net Income | 54.73M | 51.23M | 45.49M | 52.80M | 41.38M | 31.57M |
| Net Income to Common | 54.73M | 51.23M | 45.49M | 52.80M | 41.38M | 31.57M |
| Shares Outstanding (Basic) | 27.61M | 27.66M | 27.64M | 27.62M | 27.61M | 27.61M |
| Shares Outstanding (Diluted) | 27.67M | 27.68M | 27.64M | 27.63M | 27.62M | 27.61M |
| EPS (Basic) | 1.98 | 1.85 | 1.65 | 1.91 | 1.50 | 1.14 |
| EPS (Diluted) | 1.98 | 1.85 | 1.65 | 1.91 | 1.50 | 1.14 |
| Free Cash Flow | -2.89M | 62.93M | 41.11M | 31.03M | 4.12M | 11.54M |
| Free Cash Flow Per Share | -0.10 | 2.27 | 1.49 | 1.12 | 0.15 | 0.42 |
| Gross Margin | 42.90% | 42.21% | 42.19% | 40.98% | 39.36% | 35.75% |
| Operating Margin | 13.47% | 13.16% | 14.07% | 16.90% | 16.65% | 15.47% |
| Profit Margin | 10.77% | 10.76% | 10.82% | 13.32% | 12.77% | 12.18% |
| Free Cash Flow Margin | -0.57% | 13.21% | 9.78% | 7.83% | 1.27% | 4.45% |
| EBITDA | 83.18M | 75.90M | 70.84M | 76.56M | 61.77M | 44.50M |
| EBITDA Margin | 16.37% | 15.94% | 16.85% | 19.32% | 19.07% | 17.17% |
| D&A For EBITDA | 14.72M | 13.25M | 11.70M | 9.59M | 7.83M | 4.39M |
| EBIT | 68.46M | 62.65M | 59.15M | 66.97M | 53.94M | 40.12M |
| EBIT Margin | 13.47% | 13.16% | 14.07% | 16.90% | 16.65% | 15.47% |
| Effective Tax Rate | 19.53% | 19.47% | 19.88% | 20.04% | 20.37% | 19.96% |
| Revenue as Reported | 508.09M | 476.20M | 420.40M | 396.29M | 323.99M | 259.26M |
| Advertising Expenses | 2.90M | 2.40M | 1.70M | 1.20M | 1.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 40.67M | 50.86M | 22.09M | 11.61M | 8.06M | 9.64M |
| Cash & Short-Term Investments | 40.67M | 50.86M | 22.09M | 11.61M | 8.06M | 9.64M |
| Accounts Receivable | 53.61M | 49.85M | 29.15M | 24.11M | 14.73M | 13.16M |
| Other Receivables | 581.00K | 893.00K | 696.00K | 617.00K | ||
| Receivables | 53.61M | 50.43M | 30.04M | 24.81M | 14.73M | 13.78M |
| Inventory | 128.01M | 122.75M | 110.90M | 106.51M | 80.58M | 51.94M |
| Prepaid Expenses | 4.60M | 6.65M | 5.31M | 3.53M | 3.46M | 3.67M |
| Total Current Assets | 226.90M | 230.70M | 168.34M | 146.45M | 106.82M | 79.03M |
| Property, Plant & Equipment | 121.88M | 37.36M | 37.23M | 32.44M | 29.51M | 22.81M |
| Goodwill | 61.32M | 59.28M | 44.13M | 37.46M | 26.76M | 25.66M |
| Other Intangible Assets | 53.70M | 49.62M | 34.56M | 34.91M | 29.29M | 32.73M |
| Long-Term Deferred Tax Assets | 1.78M | |||||
| Other Long-Term Assets | 7.07M | 5.57M | 1.35M | 782.00K | 972.00K | 791.00K |
| Total Assets | 472.65M | 382.53M | 285.61M | 252.04M | 193.36M | 161.01M |
| Accounts Payable | 37.89M | 37.77M | 26.32M | 24.23M | 16.69M | 25.18M |
| Accrued Expenses | 6.16M | 7.81M | 5.33M | 4.30M | 3.60M | 3.39M |
| Current Portion of Long-Term Debt | 1.34M | 59.00K | 63.00K | 62.00K | 77.00K | 375.00K |
| Current Portion of Leases | 5.37M | 6.09M | 4.67M | 3.97M | 3.88M | 2.98M |
| Current Income Taxes Payable | 2.23M | 470.00K | ||||
| Current Unearned Revenue | 9.07M | 4.79M | 821.00K | 761.00K | 261.00K | 818.00K |
| Other Current Liabilities | 24.86M | 14.47M | 4.32M | 3.15M | 2.42M | 3.54M |
| Total Current Liabilities | 86.94M | 71.00M | 41.52M | 36.47M | 27.40M | 36.27M |
| Long-Term Debt | 43.46M | 229.00K | 19.32M | 26.00M | 25.08M | |
| Long-Term Leases | 13.38M | 16.71M | 16.13M | 12.71M | 12.12M | 9.83M |
| Long-Term Deferred Tax Liabilities | 120.00K | 469.00K | 2.66M | 2.05M | 2.75M | |
| Other Long-Term Liabilities | 10.32M | 9.51M | 1.81M | 890.00K | 1.07M | 2.63M |
| Total Liabilities | 154.09M | 97.34M | 60.15M | 72.05M | 68.64M | 76.55M |
| Common Stock | 28.00K | 28.00K | 28.00K | 28.00K | 28.00K | 28.00K |
| Additional Paid-In Capital | 19.82M | 18.05M | 15.55M | 12.55M | 11.07M | 10.58M |
| Retained Earnings | 293.72M | 265.34M | 214.11M | 168.62M | 115.82M | 74.44M |
| Treasury Stock | -5.94M | -3.00M | ||||
| Comprehensive Income & Other | -1.51M | -135.00K | -4.24M | -1.21M | -2.20M | -590.00K |
| Total Common Equity | 306.12M | 280.28M | 225.46M | 179.99M | 124.72M | 84.46M |
| Minority Interest | 12.43M | 4.90M | ||||
| Shareholders' Equity | 318.56M | 285.19M | 225.46M | 179.99M | 124.72M | 84.46M |
| Total Liabilities & Equity | 472.65M | 382.53M | 285.61M | 252.04M | 193.36M | 161.01M |
| Total Debt | 63.55M | 22.86M | 21.08M | 36.06M | 42.08M | 38.26M |
| Net Cash (Debt) | -22.88M | 28.00M | 1.00M | -24.45M | -34.02M | -28.61M |
| Net Cash Per Share | -0.83 | 1.01 | 0.04 | -0.88 | -1.23 | -1.04 |
| Filing Date Shares Outstanding | 27.57M | 27.60M | 27.65M | 27.63M | 27.62M | 27.61M |
| Total Common Shares Outstanding | 27.57M | 27.60M | 27.65M | 27.63M | 27.62M | 27.61M |
| Working Capital | 139.97M | 159.70M | 126.83M | 109.98M | 79.42M | 42.76M |
| Book Value Per Share | 11.10 | 10.15 | 8.15 | 6.51 | 4.52 | 3.06 |
| Tangible Book Value | 191.11M | 171.38M | 146.77M | 107.62M | 68.67M | 26.07M |
| Tangible Book Value Per Share | 6.93 | 6.21 | 5.31 | 3.90 | 2.49 | 0.94 |
| Machinery | 42.94M | 24.51M | 21.75M | 19.73M | 14.67M | 10.87M |
| Construction In Progress | 27.11M | 1.10M | 1.35M | 201.00K | 1.75M | 117.00K |
| Leasehold Improvements | 11.54M | 14.07M | 11.88M | 10.92M | 7.08M | 5.14M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 54.73M | 51.23M | 45.49M | 52.80M | 41.38M | 31.57M |
| Depreciation & Amortization | 14.72M | 13.25M | 11.70M | 9.59M | 7.83M | 4.39M |
| Loss (Gain) From Sale of Assets | -31.00K | -13.00K | -49.00K | -13.00K | -8.00K | -36.00K |
| Stock-Based Compensation | 3.27M | 2.75M | 3.20M | 1.64M | 522.00K | 169.00K |
| Provision & Write-off of Bad Debts | 1.54M | 922.00K | 390.00K | 243.00K | 467.00K | 302.00K |
| Other Operating Activities | 900.00K | 64.00K | -2.75M | -921.00K | -464.00K | 1.04M |
| Change in Accounts Receivable | -17.38M | -20.44M | -5.60M | -7.00M | -2.63M | -432.00K |
| Change in Inventory | -501.00K | 11.48M | -4.79M | -24.84M | -28.57M | -26.94M |
| Change in Accounts Payable | 15.38M | 11.34M | 2.65M | 6.48M | -7.90M | 12.02M |
| Change in Income Taxes | 2.07M | 249.00K | -267.00K | -1.20M | 1.16M | -766.00K |
| Change in Other Net Operating Assets | -710.00K | -3.89M | -2.15M | 604.00K | 259.00K | -3.04M |
| Operating Cash Flow | 73.99M | 66.94M | 47.82M | 37.38M | 12.06M | 18.27M |
| Capital Expenditures | -76.88M | -4.01M | -6.71M | -6.36M | -7.94M | -6.72M |
| Sale of Property, Plant & Equipment | 91.00K | 48.00K | 40.00K | 29.00K | 73.00K | 66.00K |
| Cash Acquisitions | -33.12M | -26.17M | -9.86M | -18.73M | -4.67M | -49.19M |
| Sale (Purchase) of Intangibles | -1.64M | -1.55M | -1.88M | -1.29M | -1.62M | -964.00K |
| Investment in Securities | -2.10M | -2.10M | ||||
| Investing Cash Flow | -113.65M | -33.78M | -18.40M | -26.35M | -14.16M | -56.81M |
| Long-Term Debt Issued | 1.00M | 25.00M | ||||
| Total Debt Issued | 44.80M | 1.00M | 25.00M | |||
| Long-Term Debt Repaid | -243.00K | -19.06M | -7.09M | -368.00K | -5.76M | |
| Total Debt Repaid | -204.00K | -243.00K | -19.06M | -7.09M | -368.00K | -5.76M |
| Net Debt Issued (Repaid) | 44.60M | -243.00K | -19.06M | -7.09M | 632.00K | 19.24M |
| Repurchase of Common Stock | -6.47M | -3.25M | -193.00K | -167.00K | -30.00K | |
| Other Financing Activities | -6.79M | -161.00K | ||||
| Financing Cash Flow | 31.33M | -3.66M | -19.25M | -7.26M | 602.00K | 19.24M |
| Foreign Exchange Rate Adjustments | -585.00K | -726.00K | 311.00K | -219.00K | -91.00K | -84.00K |
| Net Cash Flow | -8.92M | 28.78M | 10.48M | 3.55M | -1.59M | -19.38M |
| Free Cash Flow | -2.89M | 62.93M | 41.11M | 31.03M | 4.12M | 11.54M |
| Free Cash Flow Margin | -0.57% | 13.21% | 9.78% | 7.83% | 1.27% | 4.45% |
| Free Cash Flow Per Share | -0.10 | 2.27 | 1.49 | 1.12 | 0.15 | 0.42 |
| Levered Free Cash Flow | -15.35M | 44.03M | 35.58M | 17.59M | -7.23M | 2.05M |
| Unlevered Free Cash Flow | -15.18M | 44.09M | 36.20M | 18.37M | -6.35M | 2.24M |
| Cash Interest Paid | 262.00K | 89.00K | 1.03M | 1.24M | 1.31M | 210.00K |
| Cash Income Tax Paid | 11.70M | 12.54M | 13.62M | 15.29M | 9.90M | 7.76M |
| Change in Working Capital | -1.15M | -1.27M | -10.15M | -25.96M | -37.67M | -19.16M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.26B | 1.38B | 1.10B | 1.49B | 1.66B | 1.89B |
| Enterprise Value | 1.28B | 1.34B | 1.10B | 1.49B | 1.69B | 1.89B |
| Last Close Price | 45.65 | 49.91 | 39.94 | 53.85 | 60.06 | 68.28 |
| PE Ratio | 23.06 | 26.97 | 24.27 | 28.18 | 40.08 | 59.73 |
| Forward PE | 18.76 | 22.67 | 20.91 | 24.04 | 29.56 | 43.63 |
| PS Ratio | 2.48 | 2.90 | 2.63 | 3.75 | 5.12 | 7.27 |
| PB Ratio | 4.11 | 4.84 | 4.90 | 8.27 | 13.30 | 22.32 |
| P/TBV Ratio | 6.59 | 8.06 | 7.52 | 13.82 | 24.16 | 72.31 |
| P/FCF Ratio | 21.95 | 26.86 | 47.95 | 402.48 | 163.34 | |
| P/OCF Ratio | 17.01 | 20.64 | 23.09 | 39.80 | 137.56 | 103.21 |
| PEG Ratio | 0.64 | 0.64 | 0.77 | 0.80 | 0.98 | 1.45 |
| EV/Sales Ratio | 2.52 | 2.82 | 2.62 | 3.77 | 5.21 | 7.29 |
| EV/EBITDA Ratio | 15.41 | 17.72 | 15.58 | 19.50 | 27.36 | 42.47 |
| EV/EBIT Ratio | 18.72 | 21.47 | 18.66 | 22.29 | 31.33 | 47.12 |
| EV/FCF Ratio | 21.37 | 26.84 | 48.11 | 410.04 | 163.75 | |
| Debt / Equity Ratio | 0.20 | 0.08 | 0.09 | 0.20 | 0.34 | 0.45 |
| Debt / EBITDA Ratio | 0.66 | 0.26 | 0.26 | 0.43 | 0.62 | 0.81 |
| Debt / FCF Ratio | 0.36 | 0.51 | 1.16 | 10.21 | 3.31 | |
| Net Debt / Equity Ratio | 0.07 | -0.10 | -0.00 | 0.14 | 0.27 | 0.34 |
| Net Debt / EBITDA Ratio | 0.28 | -0.37 | -0.01 | 0.32 | 0.55 | 0.64 |
| Net Debt / FCF Ratio | -7.91 | -0.45 | -0.02 | 0.79 | 8.26 | 2.48 |
| Asset Turnover | 1.28 | 1.43 | 1.56 | 1.78 | 1.83 | 2.12 |
| Inventory Turnover | 2.50 | 2.35 | 2.24 | 2.50 | 2.97 | 4.48 |
| Quick Ratio | 1.08 | 1.43 | 1.26 | 1.00 | 0.83 | 0.65 |
| Current Ratio | 2.61 | 3.25 | 4.05 | 4.02 | 3.90 | 2.18 |
| Return on Equity (ROE) | 19.37% | 20.21% | 22.44% | 34.66% | 39.56% | 45.80% |
| Return on Assets (ROA) | 10.82% | 11.72% | 13.75% | 18.80% | 19.02% | 20.48% |
| Return on Invested Capital (ROIC) | 18.07% | 20.95% | 22.10% | 29.49% | 31.60% | 42.94% |
| Return on Capital Employed (ROCE) | 17.70% | 20.10% | 24.20% | 31.10% | 32.50% | 32.20% |
| Earnings Yield | 4.34% | 3.71% | 4.12% | 3.55% | 2.50% | 1.67% |
| FCF Yield | -0.23% | 4.55% | 3.72% | 2.08% | 0.25% | 0.61% |
| Buyback Yield / Dilution | -0.04% | -0.14% | -0.03% | -0.07% | -0.01% |