Xinyuan Real Financials

XIN

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Xinyuan Real passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

-0.36x

For every $1 of reported earnings, Xinyuan Real generates $-0.36 in operating cash flow ($18.2M OCF vs -$51.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

0.3x

Xinyuan Real earns $0.3 in operating income for every $1 of interest expense ($39.0M vs $117.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Xinyuan Real (XIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$514.7M

YoY-36.1%

5Y CAGR-27.0%

10Y CAGR-5.6%

Xinyuan Real generated $514.7M in revenue in fiscal year 2024. This represents a decrease of 36.1% from the prior year.

EBITDA

N/A

Free Cash Flow

$17.6M

YoY+106.5%

5Y CAGR-41.9%

Xinyuan Real generated $17.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 106.5% from the prior year.

Net Income

-$51.0M

YoY-226.7%

Xinyuan Real reported -$51.0M in net income in fiscal year 2024. This represents a decrease of 226.7% from the prior year.

EPS (Diluted)

$-0.45

YoY-218.4%

Xinyuan Real earned $-0.45 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 218.4% from the prior year.

Cash & Debt

$94.4M

YoY-26.9%

5Y CAGR-32.3%

10Y CAGR-3.9%

Xinyuan Real held $94.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

113M

YoY+0.5%

5Y CAGR-1.2%

10Y CAGR-2.6%

Xinyuan Real had 113M shares outstanding in fiscal year 2024. This represents an increase of 0.5% from the prior year.

Gross Margin

16.0%

YoY-0.4pp

5Y CAGR-6.6pp

10Y CAGR-10.3pp

Xinyuan Real's gross margin was 16.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.

Operating Margin

7.6%

YoY+1.6pp

5Y CAGR-4.9pp

10Y CAGR-3.0pp

Xinyuan Real's operating margin was 7.6% in fiscal year 2024, reflecting core business profitability. This is up 1.6 percentage points from the prior year.

Net Margin

-9.9%

YoY-14.9pp

5Y CAGR-12.7pp

10Y CAGR-15.2pp

Xinyuan Real's net profit margin was -9.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 14.9 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$441K

YoY-39.8%

5Y CAGR-55.8%

10Y CAGR-30.8%

Xinyuan Real spent $441K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 39.8% from the prior year.

Capital Expenditures

$590K

YoY+58.3%

5Y CAGR-36.0%

10Y CAGR-29.2%

Xinyuan Real invested $590K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 58.3% from the prior year.

XIN Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$514.7M-36.1%	$805.0M-15.3%	$950.0M-38.2%	$1.5B-12.0%	$1.7B-29.7%	$2.5B
Cost of Revenue	$432.2M-35.7%	$672.5M-23.4%	$878.1M-40.2%	$1.5B+1.0%	$1.5B-24.4%	$1.9B
Gross Profit	$82.4M-37.8%	$132.5M+84.1%	$72.0M+5.9%	$67.9M-76.8%	$292.5M-47.8%	$560.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$38.1M-48.7%	$74.2M-22.7%	$96.1M-41.2%	$163.4M+6.0%	$154.2M-5.8%	$163.7M
Operating Income	$39.0M-19.3%	$48.3M+197.8%	-$49.4M+75.9%	-$204.7M-238.5%	$147.8M-52.3%	$309.9M
Interest Expense	$117.4M-33.6%	$176.9M+12.0%	$158.0M-13.8%	$183.4M+41.6%	$129.5M+13.8%	$113.8M
Income Tax	$54.9M-0.7%	$55.3M+498.1%	$9.2M+226.9%	-$7.3M-105.4%	$135.1M-10.2%	$150.5M
Net Income	-$51.0M-226.7%	$40.3M+115.3%	-$263.4M+36.9%	-$417.3M-414.9%	-$81.0M-218.6%	$68.3M
EPS (Diluted)	$-0.45-218.4%	$0.38+115.6%	$-2.44+37.3%	$-3.89-418.7%	$-0.75-225.0%	$0.60

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q2'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XIN Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.0B-5.8%	$5.3B-8.8%	$5.9B-9.2%	$6.4B-15.9%	$7.7B+3.3%	$7.4B
Current Assets	N/A	$4.5B-8.1%	$4.9B+2.2%	$4.8B-14.6%	$5.6B-0.8%	$5.6B
Cash & Equivalents	$94.4M-26.9%	$129.2M-54.4%	$283.1M-33.6%	$426.4M-54.0%	$926.8M+39.9%	$662.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$42.1M-4.9%	$44.3M+35.8%	$32.6M-45.2%	$59.5M-38.1%	$96.1M-1.8%	$97.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	$24.7M
Total Liabilities	$5.0B-5.0%	$5.2B-9.4%	$5.8B-4.4%	$6.0B-9.2%	$6.6B+0.2%	$6.6B
Current Liabilities	$3.8B-8.3%	$4.1B-13.5%	$4.8B+0.3%	$4.8B+5.3%	$4.5B+1.2%	$4.5B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$104.2M-208.9%	-$33.7M+51.7%	-$69.9M-127.5%	$254.1M-61.8%	$665.5M-3.6%	$690.3M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q2'18
Total Assets	$5.0B-5.8%	$5.3B-8.8%	$5.9B-9.2%	$6.4B-15.9%	$7.7B+3.3%	$7.4B-7.6%	$8.0B-1.4%	$8.1B
Current Assets	N/A	$4.5B-8.1%	$4.9B+2.2%	$4.8B-14.6%	$5.6B-0.8%	$5.6B-15.6%	$6.7B+1.0%	$6.6B
Cash & Equivalents	$94.4M-26.9%	$129.2M-54.4%	$283.1M-33.6%	$426.4M-54.0%	$926.8M+39.9%	$662.6M-1.7%	$674.1M-36.8%	$1.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$42.1M-4.9%	$44.3M+35.8%	$32.6M-45.2%	$59.5M-38.1%	$96.1M-1.8%	$97.9M+52.7%	$64.1M+71.0%	$37.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	$24.7M	N/A	N/A
Total Liabilities	$5.0B-5.0%	$5.2B-9.4%	$5.8B-4.4%	$6.0B-9.2%	$6.6B+0.2%	$6.6B-9.0%	$7.3B-2.3%	$7.5B
Current Liabilities	$3.8B-8.3%	$4.1B-13.5%	$4.8B+0.3%	$4.8B+5.3%	$4.5B+1.2%	$4.5B-11.5%	$5.1B-8.2%	$5.5B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$775.9M
Total Equity	-$104.2M-208.9%	-$33.7M+51.7%	-$69.9M-127.5%	$254.1M-61.8%	$665.5M-3.6%	$690.3M+1.5%	$680.4M+1.5%	$670.2M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XIN Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$18.2M+106.7%	-$270.8M+48.9%	-$530.3M-491.0%	$135.6M-59.7%	$336.8M+23.7%	$272.3M
Capital Expenditures	$590K+58.3%	$373K+1200.3%	$29K-98.6%	$2.1M+59.1%	$1.3M-76.5%	$5.5M
Free Cash Flow	$17.6M+106.5%	-$271.1M+48.9%	-$530.3M-497.1%	$133.6M-60.2%	$335.5M+25.8%	$266.7M
Investing Cash Flow	$10.0M+1000.1%	-$1.1M-100.2%	$513.9M+2356.5%	-$22.8M+78.1%	-$104.2M-142.1%	-$43.0M
Financing Cash Flow	-$99.3M-109.9%	-$47.3M+21.7%	-$60.4M+91.1%	-$677.1M-256.2%	-$190.1M+31.7%	-$278.5M
Dividends Paid	$3.4M	N/A	$4.7M+14.9%	$4.1M-71.6%	$14.3M-27.3%	$19.6M
Share Buybacks	$441K-39.8%	$732K	N/A	N/A	$2.5M-90.5%	$26.1M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q2'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XIN Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	16.0%-0.4pp	16.5%+8.9pp	7.6%+3.1pp	4.4%-12.3pp	16.8%-5.8pp	22.6%
Operating Margin	7.6%+1.6pp	6.0%+11.2pp	-5.2%+8.1pp	-13.3%-21.8pp	8.5%-4.0pp	12.5%
Net Margin	-9.9%-14.9pp	5.0%+32.7pp	-27.7%-0.6pp	-27.2%-22.5pp	-4.6%-7.4pp	2.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	9.9%
Return on Assets	-1.0%-1.8pp	0.8%+5.3pp	-4.5%+2.0pp	-6.5%-5.4pp	-1.1%-2.0pp	0.9%
Current Ratio	N/A	1.08+0.1	1.02+0.0	1.00-0.2	1.23-0.0	1.26
Debt-to-Equity	-47.66+107.3	-154.94-72.4	-82.53-106.3	23.74+13.8	9.98+0.4	9.60
FCF Margin	3.4%+37.1pp	-33.7%+22.1pp	-55.8%-64.5pp	8.7%-10.5pp	19.2%+8.5pp	10.7%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q2'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	N/A	1.08+0.1	1.02+0.0	1.00-0.2	1.23-0.0	1.26-0.1	1.32+0.1	1.20
Debt-to-Equity	-47.66+107.3	-154.94-72.4	-82.53-106.3	23.74+13.8	9.98+0.4	9.60-1.1	10.71+9.6	1.16
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$104.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Xinyuan Real's annual revenue?

Xinyuan Real (XIN) reported $514.7M in total revenue for fiscal year 2024. This represents a -36.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Xinyuan Real's revenue growing?

Xinyuan Real (XIN) revenue declined by 36.1% year-over-year, from $805.0M to $514.7M in fiscal year 2024.

Is Xinyuan Real profitable?

No, Xinyuan Real (XIN) reported a net income of -$51.0M in fiscal year 2024, with a net profit margin of -9.9%.

What is Xinyuan Real's earnings per share (EPS)?

Xinyuan Real (XIN) reported diluted earnings per share of $-0.45 for fiscal year 2024. This represents a -218.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Xinyuan Real's gross margin?

Xinyuan Real (XIN) had a gross margin of 16.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Xinyuan Real's operating margin?

Xinyuan Real (XIN) had an operating margin of 7.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Xinyuan Real's net profit margin?

Xinyuan Real (XIN) had a net profit margin of -9.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Xinyuan Real's free cash flow?

Xinyuan Real (XIN) generated $17.6M in free cash flow during fiscal year 2024. This represents a 106.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Xinyuan Real's operating cash flow?

Xinyuan Real (XIN) generated $18.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Xinyuan Real's total assets?

Xinyuan Real (XIN) had $5.0B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Xinyuan Real's capital expenditures?

Xinyuan Real (XIN) invested $590K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Xinyuan Real buy back shares?

Yes, Xinyuan Real (XIN) spent $441K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Xinyuan Real have outstanding?

Xinyuan Real (XIN) had 113M shares outstanding as of fiscal year 2024.

What is Xinyuan Real's debt-to-equity ratio?

Xinyuan Real (XIN) had a debt-to-equity ratio of -47.66 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Xinyuan Real's return on assets (ROA)?

Xinyuan Real (XIN) had a return on assets of -1.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Xinyuan Real's debt-to-equity ratio negative or unusual?

Xinyuan Real (XIN) has negative shareholder equity of -$104.2M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Xinyuan Real's Piotroski F-Score?

Xinyuan Real (XIN) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Xinyuan Real's earnings high quality?

Xinyuan Real (XIN) has an earnings quality ratio of -0.36x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Xinyuan Real cover its interest payments?

Xinyuan Real (XIN) has an interest coverage ratio of 0.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.