Xpel Inc (XPEL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XPEL SEC filings page.
Xpel Inc (XPEL) reported $508.1M in revenue over the twelve months to Jun 30, 2026, up 13.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Revenue scale is translating into cash, but rising overhead and working capital are muting operating leverage.
From FY2024 to FY2025, revenue reached$476.2M while operating margin fell from14.1% to13.2% , showing that growth did not fully flow through to operating profit. Gross margin held at42.2% while SG&A climbed to$87.2M , making overhead growth a more plausible explanation for the squeeze than weaker underlying product economics.
Cash conversion strengthened materially: operating cash flow reached
The balance sheet remains lightly financed, with no long-term debt and liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Xpel Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Xpel Inc has an operating margin of 13.2%, meaning the company retains $13 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is down from 14.1% the prior year.
Xpel Inc's revenue grew 13.3% year-over-year to $476.2M, a solid pace of expansion. This earns a growth score of 64/100.
Xpel Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.25, Xpel Inc holds $3.25 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 82/100.
Xpel Inc converts 13.2% of revenue into free cash flow ($62.9M). This strong cash generation earns a score of 69/100.
Xpel Inc earns a strong 18.3% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 90/100. This is down from 20.2% the prior year.
Xpel Inc scores 11.68, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.4B) relative to total liabilities ($97.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Xpel Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Xpel Inc generates $1.31 in operating cash flow ($66.9M OCF vs $51.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Xpel Inc earns $754.81 in operating income for every $1 of interest expense ($62.6M vs $83K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Xpel Inc generated $143.1M in revenue in Q2 2026. This represents an increase of 14.7% from the same quarter a year earlier. Against the prior quarter it is up 21.9%.
Xpel Inc's EBITDA was $27.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.5% from the same quarter a year earlier. Against the prior quarter it is up 63.0%.
Xpel Inc reported $18.0M in net income in Q2 2026. This represents an increase of 10.7% from the same quarter a year earlier. Against the prior quarter it is up 74.4%.
Xpel Inc earned $0.65 per diluted share (EPS) in Q2 2026. This represents an increase of 10.2% from the same quarter a year earlier. Against the prior quarter it is up 75.7%.
Cash & Balance Sheet
Xpel Inc recorded an outflow of $34.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 227.4% from the same quarter a year earlier. Against the prior quarter it is down 1369.0%.
Xpel Inc held $40.7M in cash against $43.5M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Xpel Inc's gross margin was 44.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
Xpel Inc's operating margin was 16.2% in Q2 2026, reflecting core business profitability. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.1 percentage points.
Xpel Inc's net profit margin was 12.6% in Q2 2026, showing the share of revenue converted to profit. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.8 percentage points.
Xpel Inc's ROE was 5.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.3 percentage points.
Capital Allocation
Xpel Inc repurchased no shares in Q2 2026. Against the prior quarter it is down 100.0%.
Xpel Inc invested $65.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 6804.0% from the same quarter a year earlier. Against the prior quarter it is up 570.1%.
Not reported for Q2 2026.
XPEL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $143.1M+14.7% | $117.4M+13.1% | $122.3M+13.7% | $125.4M+11.1% | $124.7M+13.5% | $103.8M+15.2% | $107.5M+1.9% | $112.9M+9.9% |
| Cost of Revenue | $79.9M+12.2% | $66.1M+10.4% | $71.1M+11.4% | $73.0M+12.4% | $71.2M+14.7% | $59.9M+14.7% | $63.8M-1.2% | $64.9M+6.2% |
| Gross Profit | $63.1M+18.0% | $51.2M+16.7% | $51.2M+17.1% | $52.4M+9.4% | $53.5M+11.8% | $43.9M+15.9% | $43.7M+6.8% | $47.9M+15.4% |
| SG&A Expenses | $24.5M+9.8% | $23.1M+10.3% | $22.1M+11.3% | $21.9M+15.8% | $22.4M+21.5% | $20.9M+14.5% | $19.8M+13.6% | $18.9M+16.8% |
| Operating Income | $23.2M+20.3% | $13.0M+17.0% | $15.5M+25.4% | $16.8M-8.9% | $19.3M+0.6% | $11.1M+20.5% | $12.3M-13.2% | $18.4M+4.3% |
| EBITDA | $27.2M+21.5% | $16.7M+17.8% | $19.3M+25.2% | $20.1M-6.2% | $22.4M+1.4% | $14.2M+18.4% | $15.4M-8.8% | $21.4M+6.2% |
| Interest Expense | $262K+3642.9% | $4K-94.7% | $0-100.0% | $1K-99.0% | $7K-98.2% | $75K-84.1% | $34K-88.7% | $97K+14.1% |
| Income Tax | $5.1M+22.6% | $2.8M+3.3% | $2.2M-4.6% | $3.5M-6.0% | $4.1M+18.2% | $2.7M+48.2% | $2.3M-15.8% | $3.7M+6.9% |
| Net Income | $18.0M+10.7% | $10.3M+20.5% | $13.4M+50.7% | $12.9M-13.1% | $16.3M+8.4% | $8.6M+28.8% | $8.9M-25.7% | $14.9M+9.1% |
| EPS (Basic) | $0.65+10.2% | $0.37+19.4% | $0.48+45.5% | $0.47-13.0% | $0.59+9.3% | $0.31+29.2% | $0.33-23.3% | $0.54+10.2% |
| EPS (Diluted) | $0.65+10.2% | $0.37+19.4% | $0.48+45.5% | $0.47-13.0% | $0.59+9.3% | $0.31+29.2% | $0.33-23.3% | $0.54+10.2% |
| Diluted Shares (Avg) | 28M-0.1% | 28M0.0% | N/A | 28M+0.2% | 28M+0.1% | 28M+0.1% | N/A | 28M0.0% |
Not reported in any period shown, so not listed: R&D Expenses.
XPEL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $472.6M+48.6% | $394.4M+33.8% | $382.5M+33.9% | $387.7M+42.0% | $318.1M+21.5% | $294.8M+14.1% | $285.6M+13.3% | $273.0M+20.4% |
| Current Assets | $226.9M+15.0% | $237.2M+33.0% | $230.7M+37.0% | $234.5M+47.8% | $197.3M+33.4% | $178.3M+16.6% | $168.3M+14.9% | $158.7M+15.0% |
| Cash & Equivalents | $40.7M-18.0% | $45.1M+91.6% | $50.9M+130.3% | $64.5M+207.3% | $49.6M+231.0% | $23.5M+173.3% | $22.1M+90.3% | $21.0M+102.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $128.0M+22.9% | $131.6M+14.1% | $122.8M+10.7% | $128.7M+26.7% | $104.1M+6.7% | $115.3M+4.7% | $110.9M+4.1% | $101.6M+9.9% |
| Accounts Receivable | $53.6M+40.6% | $53.5M+60.4% | $49.8M+71.0% | $36.9M+24.7% | $38.1M+29.4% | $33.4M+16.8% | $29.1M+20.9% | $29.6M+22.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $61.3M+31.8% | $57.4M+29.2% | $59.3M+34.3% | $52.3M+20.6% | $46.5M+8.0% | $44.4M+18.0% | $44.1M+17.8% | $43.3M+51.6% |
| Total Liabilities | $154.1M+146.9% | $101.9M+71.6% | $97.3M+61.8% | $113.8M+109.6% | $62.4M+4.2% | $59.4M-17.6% | $60.2M-16.5% | $54.3M-9.8% |
| Current Liabilities | $86.9M+94.8% | $77.2M+85.7% | $71.0M+71.0% | $84.3M+131.0% | $44.6M+43.8% | $41.6M+30.7% | $41.5M+13.8% | $36.5M-21.5% |
| Non-Current Liabilities | $67.2M+277.5% | $24.6M+38.5% | $26.3M+41.4% | $29.5M+65.8% | $17.8M-38.4% | $17.8M-55.8% | $18.6M-47.6% | $17.8M+30.1% |
| Long-Term Debt | $43.5M | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $306.1M+19.7% | $287.5M+22.1% | $280.3M+24.3% | $269.3M+23.1% | $255.7M+26.7% | $235.5M+26.3% | $225.5M+25.3% | $218.7M+31.3% |
| Retained Earnings | $293.7M+22.9% | $275.7M+23.8% | $265.3M+23.9% | $251.9M+22.8% | $239.0M+25.6% | $222.7M+27.0% | $214.1M+27.0% | $205.2M+31.0% |
XPEL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $30.8M+10.4% | $7.4M+128.6% | $2.7M-57.8% | $33.2M+69.5% | $27.9M+3.7% | $3.2M+165.1% | $6.3M+666.4% | $19.6M+75.8% |
| Depreciation & Amortization | $4.0M+29.0% | $3.7M+20.5% | $3.8M+24.1% | $3.3M+10.0% | $3.1M+6.9% | $3.1M+11.4% | $3.1M+13.2% | $3.0M+20.0% |
| Stock-Based Compensation | N/A | $934K+37.6% | N/A | N/A | N/A | $679K+7.8% | N/A | N/A |
| Capital Expenditures | $65.1M+6804.0% | $9.7M+868.6% | $1.1M-34.0% | $988K-21.4% | $943K-47.9% | $1.0M-50.3% | $1.6M+0.8% | $1.3M-12.4% |
| Free Cash Flow | -$34.3M-227.4% | -$2.3M-205.0% | $1.6M-66.1% | $32.2M+75.8% | $26.9M+7.4% | $2.2M+131.9% | $4.7M+272.0% | $18.3M+88.8% |
| Investing Cash Flow | -$72.9M-5310.8% | -$9.9M-535.8% | -$13.0M-139.8% | -$17.9M-648.6% | -$1.3M+82.0% | -$1.6M+50.0% | -$5.4M+66.4% | -$2.4M-21.9% |
| Financing Cash Flow | $38.3M+43133.7% | -$3.6M-2000.6% | -$3.2M-9405.9% | -$166K+98.5% | -$89K+99.3% | -$170K-103.4% | -$34K-100.2% | -$11.1M+15.5% |
| Share Buybacks | $0 | $2.9M | N/A | N/A | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
XPEL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.1%+1.2pp | 43.6%+1.4pp | 41.9%+1.2pp | 41.8%-0.7pp | 42.9%-0.6pp | 42.3%+0.3pp | 40.6%+1.9pp | 42.5%+2.0pp |
| Operating Margin | 16.2%+0.8pp | 11.1%+0.4pp | 12.7%+1.2pp | 13.4%-2.9pp | 15.5%-2.0pp | 10.7%+0.5pp | 11.5%-2.0pp | 16.3%-0.9pp |
| Net Margin | 12.6%-0.5pp | 8.8%+0.6pp | 11.0%+2.7pp | 10.3%-2.9pp | 13.1%-0.6pp | 8.3%+0.9pp | 8.3%-3.1pp | 13.2%-0.1pp |
| Return on Equity | 5.9%-0.5pp | 3.6%-0.1pp | 4.8%+0.8pp | 4.8%-2.0pp | 6.4%-1.1pp | 3.6%+0.1pp | 4.0%-2.7pp | 6.8%-1.4pp |
| Return on Assets | 3.8%-1.3pp | 2.6%-0.3pp | 3.5%+0.4pp | 3.3%-2.1pp | 5.1%-0.6pp | 2.9%+0.3pp | 3.1%-1.6pp | 5.5%-0.6pp |
| Current Ratio | 2.61-1.8x | 3.07-1.2x | 3.25-0.8x | 2.78-1.6x | 4.42-0.3x | 4.29-0.5x | 4.050.0x | 4.35+1.4x |
| Debt-to-Equity | 0.14-0.1x | 0.35+0.1x | 0.00-0.3x | 0.42+0.2x | 0.24-0.1x | 0.25-0.1x | 0.27-0.1x | 0.25-0.1x |
| Asset Turnover | 0.30-0.1x | 0.30-0.1x | 0.32-0.1x | 0.32-0.1x | 0.390.0x | 0.350.0x | 0.380.0x | 0.410.0x |
| FCF Margin | -24.0%-45.6pp | -2.0%-4.1pp | 1.3%-3.1pp | 25.7%+9.4pp | 21.6%-1.2pp | 2.1%+9.9pp | 4.4%+7.0pp | 16.2%+6.8pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Xpel Inc XPEL | FY2025 | $476.2M | $51.2M | 10.8% | $1.4B | 80/100 |
| Gentherm THRM | FY2025 | $1.5B | $18.3M | 1.2% | $1.2B | 55/100 |
| Microvast Holdings Inc MVST | FY2025 | $427.5M | -$29.2M | -6.8% | $265.4M | 42/100 |
| Standard Motor Products SMP | FY2025 | $1.8B | $42.2M | 2.4% | $842.5M | 55/100 |
| Fox Factory Hldg Corp FOXF | FY2025 | $1.5B | -$544.6M | -37.1% | $842.3M | 39/100 |
| Douglas Dynamics Inc PLOW | FY2025 | $656.1M | $46.9M | 7.1% | $939.2M | 63/100 |
Where Xpel Inc Ranks
Frequently Asked Questions
What is Xpel Inc's annual revenue?
Xpel Inc (XPEL) reported $476.2M in total revenue for fiscal year 2025. This represents a 13.3% 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 13.3% year-over-year, from $420.4M to $476.2M in fiscal year 2025.
Is Xpel Inc profitable?
Yes, Xpel Inc (XPEL) reported a net income of $51.2M in fiscal year 2025, with a net profit margin of 10.8%.
What is Xpel Inc's EBITDA?
Xpel Inc (XPEL) had EBITDA of $75.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Xpel Inc have?
As of fiscal year 2025, Xpel Inc (XPEL) had $50.9M in cash and equivalents against $0 in long-term debt.
What is Xpel Inc's gross margin?
Xpel Inc (XPEL) had a gross margin of 42.2% in fiscal year 2025, 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 13.2% in fiscal year 2025, 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 2025, 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 18.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Xpel Inc's free cash flow?
Xpel Inc (XPEL) generated $62.9M in free cash flow during fiscal year 2025. This represents a 53.1% 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 $66.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Xpel Inc's total assets?
Xpel Inc (XPEL) had $382.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Xpel Inc's capital expenditures?
Xpel Inc (XPEL) invested $4.0M in capital expenditures during fiscal year 2025, 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 2025.
What is Xpel Inc's current ratio?
Xpel Inc (XPEL) had a current ratio of 3.25 as of fiscal year 2025, which is generally considered healthy.
What is Xpel Inc's debt-to-equity ratio?
Xpel Inc (XPEL) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, 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 13.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Xpel Inc's P/E ratio?
Xpel Inc (XPEL) trades at 25.0x earnings, its market capitalization divided by net income of $54.7M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.4B as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Xpel Inc's price-to-sales ratio?
Xpel Inc (XPEL) trades at 2.7x sales, its market capitalization divided by revenue of $508.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.4B as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Xpel Inc's Altman Z-Score?
Xpel Inc (XPEL) has an Altman Z-Score of 11.68, 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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 1.31x, 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 754.81x, 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 80 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.