XPeng (XPNGF) 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 Oct 30, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XPNGF SEC filings page.
XPeng Inc (XPNGF) reported $11.0B in revenue for fiscal year 2025, up 96.0% from the prior fiscal year. 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 (20-F and 6-K reports).
XPeng’s 2025 scale-up converted into positive cash, but rapid liability growth still leaves profits below break-even.
FY2025 operating cash flow of$1.18B alongside a net loss of$163M points to cash conversion being helped by balance-sheet timing, not yet by reported profitability. That reading fits inventory growth of94.8% and current-liability growth of52.2% , suggesting expansion is absorbing working capital while short-term obligations finance part of the build.
Revenue nearly doubled in FY2025, rising
Liabilities reached
Financial Health Signals
We do not publish a peer-relative financial health score for XPeng Inc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
XPeng Inc scores 0.63, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $6.1B against total assets of $14.8B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
XPeng Inc passes 6 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, both operating efficiency signals pass.
XPeng Inc reported a net loss of $162.9M while generating $1.2B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
XPeng Inc reported an operating loss of $396.3M against $54.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
XPeng Inc generated $11.0B in revenue in fiscal year 2025. This represents an increase of 96.0% from the prior year.
XPeng Inc's EBITDA was -$49.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior year is not meaningful, because that figure was zero or negative.
XPeng Inc reported a net loss of $162.9M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
XPeng Inc earned -$0.09 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
XPeng Inc generated $729.7M in free cash flow in fiscal year 2025, representing cash available after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
XPeng Inc held $2.5B in cash against $942.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
XPeng Inc's gross margin was 18.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.6 percentage points from the prior year.
XPeng Inc's operating margin was -3.6% in fiscal year 2025, reflecting core business profitability. This is up 12.7 percentage points from the prior year.
XPeng Inc's net profit margin was -1.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 12.7 percentage points from the prior year.
XPeng Inc's ROE was -3.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 14.8 percentage points from the prior year.
Capital Allocation
XPeng Inc invested $1.4B in research and development in fiscal year 2025. This represents an increase of 53.4% from the prior year.
XPeng Inc invested $451.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 48.0% from the prior year.
Not reported for fiscal year 2025.
XPNGF 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.0B+96.0% | $5.6B+29.6% | $4.3B+11.0% | $3.9B+18.2% | $3.3B+267.7% | $895.7M+168.6% | $333.4M+23518.8% | $1.4M |
| Cost of Revenue | $8.9B+85.5% | $4.8B+12.7% | $4.3B+23.5% | $3.4B+19.6% | $2.9B+237.1% | $854.9M+106.7% | $413.6M+23465.6% | $1.8M |
| Gross Profit | $2.1B+158.4% | $800.9M+1160.3% | $63.5M-85.8% | $447.8M+8.8% | $411.5M+909.5% | $40.8Mn/m | -$80.2Mn/m | -$343K |
| R&D Expenses | $1.4B+53.4% | $884.6M+19.0% | $743.2M-1.7% | $756.1M+17.1% | $645.6M+144.1% | $264.5M-11.0% | $297.4M+94.5% | $152.9M |
| SG&A Expenses | $1.3B+42.8% | $941.3M+1.9% | $923.8M-4.7% | $969.7M+16.5% | $832.5M+86.0% | $447.6M+167.6% | $167.3M+79.0% | $93.5M |
| Operating Income | -$396.3Mn/m | -$912.2Mn/m | -$1.5Bn/m | -$1.3Bn/m | -$1.0Bn/m | -$658.0Mn/m | -$543.0Mn/m | -$246.5M |
| EBITDA | -$49.9Mn/m | -$616.3Mn/m | -$1.3Bn/m | -$1.1Bn/m | -$938.4Mn/m | -$608.5Mn/m | -$523.9Mn/m | -$238.2M |
| Interest Expense | $54.3M+15.3% | $47.1M+24.5% | $37.8M+97.4% | $19.2M+120.7% | $8.7M+152.4% | $3.4M-25.2% | $4.6M+443.1% | $847K |
| Income Tax | $1.9Mn/m | -$9.6M-284.4% | $5.2M+44.6% | $3.6M-12.1% | $4.1M+2075.9% | $187K+130387.1% | $144n/m | $0 |
| Net Income | -$162.9Mn/m | -$793.3Mn/m | -$1.5Bn/m | -$1.3Bn/m | -$763.1Mn/m | -$418.7Mn/m | -$530.3Mn/m | -$203.5M |
| EPS (Basic) | -$0.09n/m | -$0.42n/m | -$0.84n/m | -$0.77n/m | -$0.46 | -$0.99 | -$1.91n/m | -$0.99 |
| EPS (Diluted) | -$0.09n/m | -$0.42n/m | -$0.84n/m | -$0.77n/m | -$0.46 | -$0.99 | -$1.91n/m | -$0.99 |
| Diluted Shares (Avg) | 1.90B+0.7% | 1.89B+8.6% | 1.74B+1.7% | 1.71B+4.2% | 1.64B | 754M | N/A | N/A |
XPNGF 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.8B+30.2% | $11.3B-4.4% | $11.9B+14.4% | $10.4B+0.6% | $10.3B+50.4% | $6.9B+415.6% | $1.3B | N/A |
| Current Assets | $9.0B+32.7% | $6.8B-11.3% | $7.7B+21.7% | $6.3B-17.6% | $7.7B+26.0% | $6.1B+753.4% | $712.6M | N/A |
| Cash & Equivalents | $2.5B-2.7% | $2.5B-14.4% | $3.0B+40.5% | $2.1B+22.4% | $1.7B-61.4% | $4.5B+1500.7% | $279.7M+17.9% | $237.3M |
| Short-Term Investments | $460.1M+347.0% | $102.9M-6.5% | $110.0M-39.9% | $183.0M-58.8% | $444.7M+2.9% | $432.3M+637.9% | $58.6Mn/m | $0 |
| Inventory | $1.5B+94.8% | $762.1M-2.1% | $778.4M+18.7% | $655.5M+56.9% | $417.7M+102.9% | $205.8M+215.5% | $65.2M | N/A |
| Accounts Receivable | $285.6M-14.9% | $335.6M-12.3% | $382.6M-31.9% | $561.5M+33.8% | $419.5M+142.5% | $173.0M+123.4% | $77.5M | N/A |
| Long-Term Investments | $360.8M+34.1% | $269.0M-8.4% | $293.7M-11.7% | $332.7M+36.9% | $243.1M+158522.4% | $153Kn/m | $0n/m | $0 |
| Goodwill | $4.9M+4.4% | $4.7M-2.7% | $4.8M | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $10.4B+47.7% | $7.0B+4.6% | $6.7B+34.4% | $5.0B+35.9% | $3.7B+134.2% | $1.6B-31.8% | $2.3B | N/A |
| Current Liabilities | $8.3B+52.2% | $5.5B+7.4% | $5.1B+45.5% | $3.5B+23.7% | $2.8B+135.3% | $1.2B+153.6% | $473.7M | N/A |
| Non-Current Liabilities | $2.1B+32.5% | $1.6B-4.0% | $1.7B+8.8% | $1.5B+76.1% | $861.8M+130.5% | $373.9M-15.8% | $443.9M | N/A |
| Long-Term Debt | $942.2M+21.4% | $776.0M-2.5% | $795.9M+19.0% | $668.8M+154.4% | $262.9M+4.3% | $252.1M+3.9% | $242.8M | N/A |
| Total Equity | $4.3B+1.4% | $4.3B-16.3% | $5.1B-4.4% | $5.4B-19.1% | $6.6B+25.3% | $5.3Bn/m | -$981.1Mn/m | -$317.8M |
| Retained Earnings | -$6.1Bn/m | -$5.7Bn/m | -$5.0Bn/m | -$3.7Bn/m | -$2.5Bn/m | -$1.7Bn/m | -$980.3M | N/A |
XPNGF 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.2Bn/m | -$275.7M-304.7% | $134.7Mn/m | -$1.2Bn/m | -$171.8Mn/m | -$21.4Mn/m | -$511.8Mn/m | -$228.7M |
| Depreciation & Amortization | $346.4M+17.1% | $295.9M+9.0% | $271.3M+86.0% | $145.9M+55.2% | $94.0M+89.8% | $49.5M+159.0% | $19.1M+130.4% | $8.3M |
| Stock-Based Compensation | $80.7M+24.4% | $64.9M-16.3% | $77.5M-24.7% | $103.0M+72.8% | $59.6M-61.0% | $152.7M+205532.4% | $74K-68.7% | $237K |
| Capital Expenditures | $451.3M+48.0% | $305.0M+3.3% | $295.3M-52.4% | $619.9M+71.8% | $360.9M+192.1% | $123.5M-53.0% | $263.1M+134.8% | $112.0M |
| Free Cash Flow | $729.7Mn/m | -$580.7Mn/m | -$160.6Mn/m | -$1.8Bn/m | -$532.6Mn/m | -$145.0Mn/m | -$774.9Mn/m | -$340.8M |
| Investing Cash Flow | -$1.0Bn/m | -$171.9M-293.4% | $88.9M-87.3% | $702.6Mn/m | -$5.2Bn/m | -$675.3M-735.0% | $106.3Mn/m | -$528.0M |
| Financing Cash Flow | $73.6M-19.7% | $91.7M-91.9% | $1.1B+29.7% | $870.5M-62.1% | $2.3B-56.4% | $5.3B+919.3% | $516.2M-47.3% | $979.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
XPNGF 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.9%+4.6pp | 14.3%+12.8pp | 1.5%-10.0pp | 11.5%-1.0pp | 12.5%+8.0pp | 4.5%+28.6pp | -24.1%+0.3pp | -24.3% |
| Operating Margin | -3.6%+12.7pp | -16.3%+19.2pp | -35.5%-3.1pp | -32.4%-1.1pp | -31.4%+42.1pp | -73.5% | -162.9% | -17459.7% |
| Net Margin | -1.5%+12.7pp | -14.2%+19.7pp | -33.8%+0.2pp | -34.0%-10.9pp | -23.2%+23.6pp | -46.8% | -159.0% | -14411.9% |
| Return on Equity | -3.8%+14.8pp | -18.5%+10.1pp | -28.6%-3.8pp | -24.8%-13.2pp | -11.5%-3.6pp | -7.9% | N/A | N/A |
| Return on Assets | -1.1%+5.9pp | -7.0%+5.3pp | -12.3%+0.4pp | -12.8%-5.4pp | -7.4%-1.3pp | -6.1%+33.8pp | -39.9% | N/A |
| Current Ratio | 1.09-0.2x | 1.25-0.3x | 1.51-0.3x | 1.81-0.9x | 2.71-2.4x | 5.06+3.6x | 1.50 | N/A |
| Debt-to-Equity | 0.220.0x | 0.180.0x | 0.160.0x | 0.13+0.1x | 0.040.0x | 0.05 | N/A | N/A |
| Liabilities-to-Equity | 2.40+0.8x | 1.64+0.3x | 1.32+0.4x | 0.94+0.4x | 0.56+0.3x | 0.30 | N/A | N/A |
| Asset Turnover | 0.74+0.2x | 0.49+0.1x | 0.360.0x | 0.38+0.1x | 0.32+0.2x | 0.13-0.1x | 0.25 | N/A |
| FCF Margin | 6.7%+17.0pp | -10.4%-6.7pp | -3.7%+42.9pp | -46.6%-30.4pp | -16.2%0.0pp | -16.2% | -232.4% | -24140.3% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| XPeng Inc XPNGF | FY2025 | $11.0B | -$162.9M | -1.5% | $8.6B | — |
| NIO Inc NIOIF | FY2025 | $12.5B | -$2.1B | -17.1% | $8.2B | — |
| Luckin Coffee Inc LKNCY | FY2025 | $7.0B | $513.9M | 7.3% | $8.9B | — |
Where XPeng Inc Ranks
Frequently Asked Questions
XPeng Inc (XPNGF) reported $11.0B in total revenue for fiscal year 2025. This represents a 96.0% 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.
XPeng Inc (XPNGF) revenue grew by 96.0% year-over-year, from $5.6B to $11.0B in fiscal year 2025.
No, XPeng Inc (XPNGF) reported a net loss of $162.9M in fiscal year 2025, with a net profit margin of -1.5%.
XPeng Inc (XPNGF) had EBITDA of -$49.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, XPeng Inc (XPNGF) had $2.5B in cash and equivalents against $942.2M in long-term debt.
XPeng Inc (XPNGF) had a gross margin of 18.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
XPeng Inc (XPNGF) had an operating margin of -3.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
XPeng Inc (XPNGF) had a net profit margin of -1.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
XPeng Inc (XPNGF) has a return on equity of -3.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
XPeng Inc (XPNGF) generated $729.7M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
XPeng Inc (XPNGF) generated $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
XPeng Inc (XPNGF) had $14.8B in total assets as of fiscal year 2025, including both current and long-term assets.
XPeng Inc (XPNGF) invested $451.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
XPeng Inc (XPNGF) invested $1.4B in research and development during fiscal year 2025.
XPeng Inc (XPNGF) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.
XPeng Inc (XPNGF) had a debt-to-equity ratio of 0.22 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
XPeng Inc (XPNGF) had a liabilities-to-equity ratio of 2.40 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
XPeng Inc (XPNGF) had a return on assets of -1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
XPeng Inc (XPNGF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $8.6B as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
XPeng Inc (XPNGF) trades at 0.8x sales, its market capitalization divided by $11.0B revenue, FY2025. The market capitalization is $8.6B as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
XPeng Inc (XPNGF) has an Altman Z-Score of 0.63, placing it in the Distress Zone (elevated 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.
XPeng Inc (XPNGF) has a Piotroski F-Score of 6 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.
XPeng Inc (XPNGF) reported a net loss of $162.9M while generating $1.2B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
XPeng Inc (XPNGF) reported an operating loss of $396.3M against $54.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.