NYSE : XPEV
XPeng Inc. — Financial statements
Consumer Discretionary · Auto Manufacturers · China
Last price 9.04 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.65B
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Financial statements
XPeng Inc. (XPEV) reported revenue of 75.41B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 75.41B | 76.72B | 40.87B | 30.68B | 26.86B | 20.99B |
| Cost of Revenue | 59.69B | 62.14B | 34.88B | 30.14B | 23.74B | 18.33B |
| Gross Profit | 15.72B | 14.58B | 5.98B | 532.97M | 3.12B | 2.66B |
| Selling, General & Admin | 9.67B | 9.40B | 6.87B | 6.56B | 6.69B | 5.31B |
| Research & Development | 11.12B | 9.49B | 6.46B | 5.28B | 5.21B | 4.11B |
| Other Operating Expenses | -1.30B | -1.76B | -589.23M | -465.59M | -109.17M | -84.88M |
| Operating Expenses | 19.49B | 17.13B | 12.74B | 11.37B | 11.79B | 9.33B |
| Operating Income | -3.77B | -2.54B | -6.75B | -10.84B | -8.67B | -6.68B |
| Interest Expense | -465.30M | -379.93M | -343.98M | -268.67M | -132.19M | -55.34M |
| Interest & Investment Income | 1.04B | 1.16B | 1.37B | 1.26B | 1.06B | 743.03M |
| Earnings From Equity Investments | -13.77M | 30.93M | -29.07M | 54.74M | 4.12M | |
| Currency Exchange Gain (Loss) | -261.16M | 286.00M | -49.54M | 97.08M | -1.46B | 313.58M |
| Other Non Operating Income (Expenses) | 69.37M | 44.79M | 108.15M | -368.48M | 95.67M | 149.51M |
| EBT Excluding Unusual Items | -3.40B | -1.40B | -5.69B | -10.06B | -9.11B | -5.53B |
| Gain (Loss) on Sale of Investments | 425.22M | 500.53M | -261.99M | -224.36M | 25.06M | 591.51M |
| Asset Writedown | -109.47M | -109.47M | -137.52M | -81.81M | -30.85M | -34.59M |
| Other Unusual Items | 65.69M | -117.31M | 234.25M | 29.34M | 132.86M | |
| Pretax Income | -3.02B | -1.13B | -5.86B | -10.34B | -9.11B | -4.84B |
| Income Tax Expense | 98.55M | 13.59M | -69.78M | 36.81M | 24.73M | 25.99M |
| Net Income | -3.12B | -1.14B | -5.79B | -10.38B | -9.14B | -4.86B |
| Net Income to Common | -3.12B | -1.14B | -5.79B | -10.38B | -9.14B | -4.86B |
| Shares Outstanding (Basic) | 954.68M | 951.99M | 945.68M | 870.46M | 856.27M | 821.45M |
| Shares Outstanding (Diluted) | 954.68M | 951.99M | 945.68M | 870.46M | 856.27M | 821.45M |
| EPS (Basic) | -3.27 | -1.20 | -6.12 | -11.92 | -10.67 | -5.92 |
| EPS (Diluted) | -3.27 | -1.20 | -6.12 | -11.92 | -10.67 | -5.92 |
| Free Cash Flow | 5.10B | -4.24B | -1.65B | -12.51B | -3.42B | |
| Free Cash Flow Per Share | 5.36 | -4.48 | -1.90 | -14.61 | -4.16 | |
| Gross Margin | 20.85% | 19.01% | 14.64% | 1.74% | 11.62% | 12.66% |
| Operating Margin | -5.00% | -3.32% | -16.53% | -35.33% | -32.30% | -31.82% |
| Profit Margin | -4.14% | -1.49% | -14.17% | -33.82% | -34.03% | -23.17% |
| Free Cash Flow Margin | 6.65% | -10.37% | -5.38% | -46.58% | -16.28% | |
| EBITDA | -1.33B | -269.56M | -4.81B | -8.91B | -7.64B | -6.07B |
| EBITDA Margin | -1.76% | -0.35% | -11.77% | -29.05% | -28.46% | -28.92% |
| D&A For EBITDA | 2.44B | 2.28B | 1.95B | 1.93B | 1.03B | 608.76M |
| EBIT | -3.77B | -2.54B | -6.75B | -10.84B | -8.67B | -6.68B |
| EBIT Margin | -5.00% | -3.32% | -16.53% | -35.33% | -32.30% | -31.82% |
| Revenue as Reported | 75.41B | 76.72B | 40.87B | 30.68B | 26.86B | 20.99B |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 14.24B | 17.33B | 18.59B | 21.13B | 14.61B | 11.02B |
| Short-Term Investments | 13.80B | 17.74B | 14.24B | 17.72B | 16.70B | 28.78B |
| Cash & Short-Term Investments | 28.04B | 35.07B | 32.82B | 38.85B | 31.31B | 39.80B |
| Accounts Receivable | 4.87B | 5.56B | 5.02B | 4.61B | 5.17B | 3.56B |
| Other Receivables | 165.43M | 135.53M | 94.10M | 49.89M | 85.33M | 111.41M |
| Receivables | 5.03B | 5.70B | 5.11B | 4.66B | 5.25B | 3.67B |
| Inventory | 13.73B | 10.38B | 5.56B | 5.53B | 4.52B | 2.66B |
| Restricted Cash | 6.92B | 6.07B | 3.15B | 3.17B | 106.27M | 609.98M |
| Other Current Assets | 7.77B | 6.03B | 3.08B | 2.32B | 2.34B | 2.09B |
| Total Current Assets | 61.51B | 63.25B | 49.74B | 54.52B | 43.53B | 48.83B |
| Property, Plant & Equipment | 19.05B | 17.26B | 12.78B | 12.41B | 12.56B | 6.99B |
| Long-Term Investments | 5.52B | 6.79B | 6.45B | 5.12B | 9.22B | 4.77B |
| Goodwill | 34.11M | 34.11M | 34.11M | |||
| Other Intangible Assets | 7.46B | 7.47B | 7.35B | 7.74B | 3.79B | 1.47B |
| Long-Term Accounts Receivable | 6.15B | 6.69B | 4.65B | 3.23B | 2.19B | 1.86B |
| Other Long-Term Assets | 1.90B | 1.67B | 1.69B | 1.10B | 201.27M | 1.73B |
| Total Assets | 101.59B | 103.16B | 82.71B | 84.16B | 71.49B | 65.65B |
| Accounts Payable | 29.71B | 37.16B | 23.08B | 22.21B | 14.22B | 12.36B |
| Accrued Expenses | 12.47B | 5.81B | 4.31B | 3.30B | 2.26B | 1.38B |
| Short-Term Debt | 10.07B | 4.28B | 4.61B | 3.89B | 2.42B | |
| Current Portion of Long-Term Debt | 706.16M | 3.03B | 1.86B | 1.91B | 761.86M | |
| Current Portion of Leases | 381.30M | 501.48M | 366.44M | 400.38M | 619.09M | 373.49M |
| Current Income Taxes Payable | 65.56M | 44.68M | 14.51M | 5.74M | 27.66M | 22.74M |
| Current Unearned Revenue | 1.70B | 1.46B | 1.28B | 631.00M | 389.24M | 418.23M |
| Other Current Liabilities | 200.23M | 5.82B | 4.35B | 3.77B | 3.41B | 3.46B |
| Total Current Liabilities | 55.31B | 58.11B | 39.86B | 36.11B | 24.11B | 18.01B |
| Long-Term Debt | 8.98B | 6.76B | 6.98B | 6.93B | 6.38B | 3.38B |
| Long-Term Leases | 6.72B | 4.99B | 2.12B | 2.27B | 2.65B | 1.19B |
| Long-Term Unearned Revenue | 1.35B | 1.41B | 1.02B | 791.46M | 1.01B | 653.07M |
| Long-Term Deferred Tax Liabilities | 330.34M | 330.35M | 341.93M | 404.02M | ||
| Other Long-Term Liabilities | 1.89B | 1.20B | 1.10B | 1.33B | 424.80M | 266.07M |
| Total Liabilities | 74.58B | 72.79B | 51.43B | 47.83B | 34.58B | 23.50B |
| Common Stock | 127.00K | 127.00K | 126.00K | 125.00K | 114.00K | 113.00K |
| Additional Paid-In Capital | 71.53B | 71.24B | 70.67B | 70.20B | 60.69B | 59.98B |
| Retained Earnings | -45.75B | -42.63B | -41.49B | -35.70B | -25.32B | -16.19B |
| Treasury Stock | -1.00K | -1.00K | -1.00K | -1.00K | -1.00K | |
| Comprehensive Income & Other | 1.23B | 1.76B | 2.09B | 1.83B | 1.54B | -1.65B |
| Total Common Equity | 27.01B | 30.37B | 31.27B | 36.33B | 36.91B | 42.15B |
| Shareholders' Equity | 27.01B | 30.37B | 31.27B | 36.33B | 36.91B | 42.15B |
| Total Liabilities & Equity | 101.59B | 103.16B | 82.71B | 84.16B | 71.49B | 65.65B |
| Total Debt | 26.86B | 19.55B | 15.94B | 15.39B | 12.83B | 4.95B |
| Net Cash (Debt) | 1.18B | 15.52B | 16.88B | 23.45B | 18.48B | 34.85B |
| Net Cash Per Share | 1.24 | 16.30 | 17.85 | 26.95 | 21.58 | 42.43 |
| Filing Date Shares Outstanding | 956.69M | 955.83M | 950.31M | 943.06M | 860.79M | 850.48M |
| Total Common Shares Outstanding | 956.69M | 954.35M | 949.06M | 942.00M | 860.24M | 850.44M |
| Working Capital | 6.20B | 5.14B | 9.87B | 18.41B | 19.41B | 30.82B |
| Book Value Per Share | 28.23 | 31.82 | 32.95 | 38.57 | 42.91 | 49.56 |
| Tangible Book Value | 19.55B | 22.86B | 23.89B | 28.56B | 33.12B | 40.67B |
| Tangible Book Value Per Share | 20.43 | 23.96 | 25.17 | 30.31 | 38.50 | 47.82 |
| Buildings | 5.82B | 4.21B | 4.13B | 2.21B | ||
| Machinery | 10.70B | 8.88B | 8.11B | 5.25B | 4.03B | |
| Construction In Progress | 1.49B | 1.69B | 663.64M | 3.86B | 1.76B | |
| Leasehold Improvements | 699.69M | 649.57M | 695.97M | 681.34M | 376.22M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.14B | -5.79B | -10.38B | -9.14B | -4.86B | |
| Depreciation & Amortization | 2.82B | 2.36B | 2.11B | 1.41B | 837.79M | |
| Loss (Gain) From Sale of Assets | 26.62M | 21.86M | 5.27M | 15.68M | 36.51M | |
| Asset Writedown & Restructuring Costs | 283.15M | 350.43M | 90.53M | 57.27M | 34.59M | |
| Loss (Gain) From Sale of Investments | -500.53M | 261.99M | 224.36M | -25.06M | -591.51M | |
| Loss (Gain) on Equity Investments | -30.93M | 29.07M | -54.74M | -4.12M | ||
| Stock-Based Compensation | 564.33M | 473.65M | 550.53M | 710.49M | 379.95M | |
| Provision & Write-off of Bad Debts | 66.20M | 20.33M | 18.22M | 11.37M | 16.18M | |
| Other Operating Activities | 215.25M | 720.68M | 991.31M | 1.40B | -578.76M | |
| Change in Accounts Receivable | 386.51M | 246.26M | 1.14B | -1.21B | -1.56B | |
| Change in Inventory | -5.77B | -1.06B | -2.36B | -2.48B | -1.94B | |
| Change in Accounts Payable | 2.82B | 1.69B | 6.19B | 1.86B | 7.25B | |
| Change in Unearned Revenue | 570.64M | 798.49M | 216.69M | 185.96M | 588.90M | |
| Change in Income Taxes | 30.17M | 8.77M | -21.91M | 4.92M | 21.53M | |
| Change in Other Net Operating Assets | 7.87B | -2.06B | 2.17B | -1.07B | -776.10M | |
| Operating Cash Flow | 8.26B | -2.01B | 956.16M | -8.23B | -1.09B | |
| Capital Expenditures | -3.16B | -2.23B | -2.61B | -4.28B | -2.32B | |
| Sale of Property, Plant & Equipment | 52.43M | 169.54M | 8.38M | 77.06M | 24.12M | |
| Cash Acquisitions | 684.21M | |||||
| Sale (Purchase) of Intangibles | -191.19M | -201.83M | -215.18M | -404.06M | -2.02B | |
| Investment in Securities | -1.17B | -3.07B | 5.78B | 13.09B | -25.85B | |
| Other Investing Activities | -2.87B | 4.07B | -3.02B | -3.65B | -2.91B | |
| Investing Cash Flow | -7.33B | -1.26B | 631.17M | 4.85B | -33.08B | |
| Long-Term Debt Issued | 8.87B | 10.72B | 8.27B | 6.80B | 2.50B | |
| Total Debt Issued | 8.87B | 10.72B | 8.27B | 6.80B | 2.50B | |
| Long-Term Debt Repaid | -8.36B | -10.05B | -5.28B | -795.07M | -982.90M | |
| Total Debt Repaid | -8.36B | -10.05B | -5.28B | -795.07M | -982.90M | |
| Net Debt Issued (Repaid) | 514.76M | 669.32M | 3.00B | 6.01B | 1.52B | |
| Issuance of Common Stock | 5.02B | 13.15B | ||||
| Other Financing Activities | -1.83M | -36.92M | ||||
| Financing Cash Flow | 514.76M | 669.32M | 8.02B | 6.00B | 14.63B | |
| Foreign Exchange Rate Adjustments | 222.63M | 35.74M | -14.58M | 461.74M | -363.28M | |
| Net Cash Flow | 1.66B | -2.56B | 9.59B | 3.08B | -19.91B | |
| Free Cash Flow | 5.10B | -4.24B | -1.65B | -12.51B | -3.42B | |
| Free Cash Flow Margin | 6.65% | -10.37% | -5.38% | -46.58% | -16.28% | |
| Free Cash Flow Per Share | 5.36 | -4.48 | -1.90 | -14.61 | -4.16 | |
| Levered Free Cash Flow | 4.21B | -2.15B | -962.50M | -8.57B | 371.95M | |
| Unlevered Free Cash Flow | 4.44B | -1.94B | -794.59M | -8.49B | 406.53M | |
| Cash Interest Paid | 503.74M | 465.03M | 306.66M | 162.47M | 126.09M | |
| Cash Income Tax Paid | 17.26M | 33.63M | 25.73M | 36.07M | ||
| Change in Working Capital | 5.90B | -443.17M | 7.35B | -2.71B | 3.58B |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.65B | 19.36B | 11.21B | 13.71B | 8.52B | 42.45B |
| Enterprise Value | 8.48B | 16.68B | 9.55B | 11.68B | 5.57B | 36.66B |
| Last Close Price | 9.04 | 20.28 | 11.82 | 14.59 | 9.94 | 50.33 |
| Forward PE | 97.29 | |||||
| PS Ratio | 0.78 | 1.76 | 2.00 | 3.17 | 2.19 | 12.85 |
| PB Ratio | 2.18 | 4.46 | 2.62 | 2.68 | 1.59 | 6.40 |
| P/TBV Ratio | 3.01 | 5.92 | 3.43 | 3.40 | 1.77 | 6.63 |
| P/FCF Ratio | 26.54 | |||||
| P/OCF Ratio | 16.40 | 101.66 | ||||
| EV/Sales Ratio | 0.76 | 1.52 | 1.71 | 2.70 | 1.43 | 11.10 |
| EV/FCF Ratio | 22.86 | |||||
| Debt / Equity Ratio | 0.99 | 0.64 | 0.51 | 0.42 | 0.35 | 0.12 |
| Debt / EBITDA Ratio | 32.62 | |||||
| Debt / FCF Ratio | 3.83 | |||||
| Net Debt / Equity Ratio | -0.04 | -0.51 | -0.54 | -0.65 | -0.50 | -0.83 |
| Net Debt / EBITDA Ratio | 0.89 | 57.57 | 3.51 | 2.63 | 2.42 | 5.74 |
| Net Debt / FCF Ratio | -3.04 | 3.98 | 14.21 | 1.48 | 10.20 | |
| Asset Turnover | 0.78 | 0.83 | 0.49 | 0.39 | 0.39 | 0.38 |
| Inventory Turnover | 5.87 | 7.79 | 6.29 | 6.00 | 6.61 | 9.15 |
| Quick Ratio | 0.60 | 0.70 | 0.95 | 1.21 | 1.52 | 2.41 |
| Current Ratio | 1.11 | 1.09 | 1.25 | 1.51 | 1.80 | 2.71 |
| Return on Equity (ROE) | -10.88% | -3.70% | -17.13% | -28.33% | -23.12% | -12.70% |
| Return on Assets (ROA) | -2.43% | -1.71% | -5.06% | -8.70% | -7.91% | -7.56% |
| Return on Capital Employed (ROCE) | -8.10% | -5.60% | -15.80% | -22.60% | -18.30% | -14.00% |
| Earnings Yield | -5.32% | -0.84% | -7.07% | -10.67% | -15.56% | -1.80% |
| FCF Yield | -25.09% | 3.77% | -5.18% | -1.70% | -21.30% | -1.27% |
| Buyback Yield / Dilution | -0.57% | -0.67% | -8.64% | -1.66% | -4.24% | -117.81% |