Xpel Inc Financials
This page shows Xpel Inc (XPEL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Xpel Inc has an operating margin of 14.1%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is down from 16.9% the prior year.
Xpel Inc's revenue grew 6.1% year-over-year to $420.4M, a solid pace of expansion. This earns a growth score of 46/100.
Xpel Inc carries a low D/E ratio of 0.27, meaning only $0.27 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.05, Xpel Inc holds $4.05 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Xpel Inc has a free cash flow margin of 9.8%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.
Xpel Inc earns a strong 20.2% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is down from 29.3% the prior year.
Xpel Inc scores 17.59, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.4B) relative to total liabilities ($60.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Xpel Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Xpel Inc generates $1.05 in operating cash flow ($47.8M OCF vs $45.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Xpel Inc earns $59.4 in operating income for every $1 of interest expense ($59.1M vs $996K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Xpel Inc generated $420.4M in revenue in fiscal year 2024. This represents an increase of 6.1% from the prior year.
Xpel Inc's EBITDA was $70.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.5% from the prior year.
Xpel Inc generated $41.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 32.5% from the prior year.
Xpel Inc reported $45.5M in net income in fiscal year 2024. This represents a decrease of 13.8% from the prior year.
Xpel Inc earned $1.65 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 13.6% from the prior year.
Xpel Inc held $22.1M in cash against $0 in long-term debt as of fiscal year 2024.
Xpel Inc had 28M shares outstanding in fiscal year 2024. This represents an increase of 0.1% from the prior year.
Xpel Inc's gross margin was 42.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.
Xpel Inc's operating margin was 14.1% in fiscal year 2024, reflecting core business profitability. This is down 2.8 percentage points from the prior year.
Xpel Inc's net profit margin was 10.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 2.5 percentage points from the prior year.
Xpel Inc's ROE was 20.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 9.2 percentage points from the prior year.
Xpel Inc invested $2.9M in research and development in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Xpel Inc invested $6.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 5.6% from the prior year.
XPEL Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $125.4M+0.6% | $124.7M+20.1% | $103.8M-1.6% | $105.5M+2.8% | $102.7M+0.4% | $102.2M+19.1% | $85.8M+9.4% | $78.5M |
| Cost of Revenue | $73.0M+2.5% | $71.2M+18.8% | $59.9M-7.3% | $64.6M+5.7% | $61.1M+5.0% | $58.2M+16.8% | $49.9M+5.2% | $47.4M |
| Gross Profit | $52.4M-2.0% | $53.5M+21.9% | $43.9M+7.2% | $40.9M-1.4% | $41.5M-5.6% | $44.0M+22.3% | $36.0M+15.8% | $31.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $21.9M-2.1% | $22.4M+7.0% | $20.9M+19.6% | $17.5M+8.1% | $16.2M+3.3% | $15.7M+9.1% | $14.4M+7.5% | $13.3M |
| Operating Income | $16.8M-13.2% | $19.3M+73.5% | $11.1M-21.8% | $14.2M-19.3% | $17.6M-12.7% | $20.2M+35.2% | $14.9M+37.7% | $10.8M |
| Interest Expense | $1K-85.7% | $7K-90.7% | $75K-75.2% | $302K+255.3% | $85K-74.9% | $338K-35.4% | $523K+9.6% | $477K |
| Income Tax | $3.5M-15.0% | $4.1M+53.0% | $2.7M+0.6% | $2.7M-23.3% | $3.5M-14.5% | $4.1M+36.7% | $3.0M+30.8% | $2.3M |
| Net Income | $12.9M-20.6% | $16.3M+89.7% | $8.6M-28.3% | $12.0M-12.3% | $13.7M-13.2% | $15.7M+37.7% | $11.4M+36.8% | $8.4M |
| EPS (Diluted) | $0.47-20.3% | $0.59+90.3% | $0.31-29.5% | $0.44-10.2% | $0.49-14.0% | $0.57+39.0% | $0.41+32.3% | $0.31 |
XPEL Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $387.7M+21.9% | $318.1M+7.9% | $294.8M+17.0% | $252.0M+11.1% | $226.8M+4.7% | $216.7M+4.3% | $207.7M+7.4% | $193.4M |
| Current Assets | $234.5M+18.9% | $197.3M+10.7% | $178.3M+21.7% | $146.5M+6.1% | $138.0M+9.9% | $125.7M+4.4% | $120.3M+12.6% | $106.8M |
| Cash & Equivalents | $64.5M+30.1% | $49.6M+110.7% | $23.5M+102.8% | $11.6M+11.9% | $10.4M-27.4% | $14.3M+71.6% | $8.3M+3.4% | $8.1M |
| Inventory | $128.7M+23.6% | $104.1M-9.7% | $115.3M+8.3% | $106.5M+15.2% | $92.5M+11.8% | $82.7M-2.2% | $84.6M+5.0% | $80.6M |
| Accounts Receivable | $36.9M-3.3% | $38.1M+14.3% | $33.4M+38.4% | $24.1M0.0% | $24.1M+0.6% | $24.0M+12.3% | $21.4M+45.0% | $14.7M |
| Goodwill | $52.3M+12.4% | $46.5M+4.7% | $44.4M+18.6% | $37.5M+31.0% | $28.6M0.0% | $28.6M+6.6% | $26.8M+0.2% | $26.8M |
| Total Liabilities | $113.8M+82.4% | $62.4M+5.1% | $59.4M-17.6% | $72.1M+19.6% | $60.2M-4.9% | $63.4M-10.7% | $70.9M+3.3% | $68.6M |
| Current Liabilities | $84.3M+89.0% | $44.6M+7.3% | $41.6M+14.0% | $36.5M-21.6% | $46.5M+31.5% | $35.4M+28.1% | $27.6M+0.8% | $27.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $269.3M+5.3% | $255.7M+8.6% | $235.5M+30.8% | $180.0M+8.1% | $166.6M+8.6% | $153.3M+12.1% | $136.8M+9.6% | $124.7M |
| Retained Earnings | $251.9M+5.4% | $239.0M+7.3% | $222.7M+32.1% | $168.6M+7.6% | $156.7M+9.5% | $143.0M+12.4% | $127.3M+9.9% | $115.8M |
XPEL Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $33.2M+18.9% | $27.9M+764.0% | $3.2M+389.0% | -$1.1M-110.0% | $11.1M-58.3% | $26.7M+3738.6% | $695K-70.6% | $2.4M |
| Capital Expenditures | $988K+4.8% | $943K-6.0% | $1.0M-37.9% | $1.6M+12.5% | $1.4M+14.7% | $1.3M-39.1% | $2.1M-14.4% | $2.4M |
| Free Cash Flow | $32.2M+19.4% | $26.9M+1111.1% | $2.2M+181.4% | -$2.7M-128.2% | $9.7M-61.9% | $25.4M+1969.6% | -$1.4M-3217.1% | -$41K |
| Investing Cash Flow | -$17.9M-1227.6% | -$1.3M+13.4% | -$1.6M+90.4% | -$16.1M-723.3% | -$2.0M+66.7% | -$5.9M-149.2% | -$2.4M+45.4% | -$4.3M |
| Financing Cash Flow | -$166K-86.5% | -$89K+47.6% | -$170K-100.9% | $19.0M+244.5% | -$13.1M+12.6% | -$15.0M-881.5% | $1.9M+3104.7% | -$64K |
| 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 |
XPEL Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.8%-1.1pp | 42.9%+0.6pp | 42.3%+3.5pp | 38.8%-1.7pp | 40.5%-2.6pp | 43.0%+1.1pp | 41.9%+2.3pp | 39.6% |
| Operating Margin | 13.4%-2.1pp | 15.5%+4.8pp | 10.7%-2.8pp | 13.5%-3.7pp | 17.2%-2.6pp | 19.8%+2.4pp | 17.4%+3.6pp | 13.8% |
| Net Margin | 10.3%-2.7pp | 13.1%+4.8pp | 8.3%-3.1pp | 11.3%-2.0pp | 13.3%-2.1pp | 15.4%+2.1pp | 13.3%+2.7pp | 10.7% |
| Return on Equity | 4.8%-1.6pp | 6.4%+2.7pp | 3.6%-3.0pp | 6.7%-1.6pp | 8.2%-2.1pp | 10.3%+1.9pp | 8.4%+1.7pp | 6.7% |
| Return on Assets | 3.3%-1.8pp | 5.1%+2.2pp | 2.9%-1.8pp | 4.8%-1.3pp | 6.0%-1.3pp | 7.3%+1.8pp | 5.5%+1.2pp | 4.3% |
| Current Ratio | 2.78-1.6 | 4.42+0.1 | 4.29+0.3 | 4.02+1.0 | 2.97-0.6 | 3.55-0.8 | 4.35+0.5 | 3.90 |
| Debt-to-Equity | 0.42+0.2 | 0.240.0 | 0.25-0.1 | 0.40+0.0 | 0.36-0.1 | 0.41-0.1 | 0.52-0.0 | 0.55 |
| FCF Margin | 25.7%+4.0pp | 21.6%+19.5pp | 2.1%+4.7pp | -2.6%-12.0pp | 9.4%-15.4pp | 24.9%+26.5pp | -1.6%-1.5pp | -0.1% |
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Frequently Asked Questions
What is Xpel Inc's annual revenue?
Xpel Inc (XPEL) reported $420.4M in total revenue for fiscal year 2024. This represents a 6.1% 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 Xpel Inc's revenue growing?
Xpel Inc (XPEL) revenue grew by 6.1% year-over-year, from $396.3M to $420.4M in fiscal year 2024.
Is Xpel Inc profitable?
Yes, Xpel Inc (XPEL) reported a net income of $45.5M in fiscal year 2024, with a net profit margin of 10.8%.
What is Xpel Inc's earnings per share (EPS)?
Xpel Inc (XPEL) reported diluted earnings per share of $1.65 for fiscal year 2024. This represents a -13.6% 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 Xpel Inc's EBITDA?
Xpel Inc (XPEL) had EBITDA of $70.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Xpel Inc's gross margin?
Xpel Inc (XPEL) had a gross margin of 42.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Xpel Inc's operating margin?
Xpel Inc (XPEL) had an operating margin of 14.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Xpel Inc's net profit margin?
Xpel Inc (XPEL) had a net profit margin of 10.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Xpel Inc's return on equity (ROE)?
Xpel Inc (XPEL) has a return on equity of 20.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Xpel Inc's free cash flow?
Xpel Inc (XPEL) generated $41.1M in free cash flow during fiscal year 2024. This represents a 32.5% 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 Xpel Inc's operating cash flow?
Xpel Inc (XPEL) generated $47.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Xpel Inc's total assets?
Xpel Inc (XPEL) had $285.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Xpel Inc's capital expenditures?
Xpel Inc (XPEL) invested $6.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Xpel Inc spend on research and development?
Xpel Inc (XPEL) invested $2.9M in research and development during fiscal year 2024.
How many shares does Xpel Inc have outstanding?
Xpel Inc (XPEL) had 28M shares outstanding as of fiscal year 2024.
What is Xpel Inc's current ratio?
Xpel Inc (XPEL) had a current ratio of 4.05 as of fiscal year 2024, which is generally considered healthy.
What is Xpel Inc's debt-to-equity ratio?
Xpel Inc (XPEL) had a debt-to-equity ratio of 0.27 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Xpel Inc's return on assets (ROA)?
Xpel Inc (XPEL) had a return on assets of 15.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Xpel Inc's Altman Z-Score?
Xpel Inc (XPEL) has an Altman Z-Score of 17.59, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Xpel Inc's Piotroski F-Score?
Xpel Inc (XPEL) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 Xpel Inc's earnings high quality?
Xpel Inc (XPEL) has an earnings quality ratio of 1.05x, considered cash-backed (high 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 Xpel Inc cover its interest payments?
Xpel Inc (XPEL) has an interest coverage ratio of 59.4x, meaning it can comfortably 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.
How financially healthy is Xpel Inc?
Xpel Inc (XPEL) scores 74 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.