X Financial Financials

XYF

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

This page shows X Financial (XYF) 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

Financial Profile 91/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

X Financial has an operating margin of 31.9%, meaning the company retains $32 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 29.9% the prior year.

Growth

X Financial's revenue surged 18.6% year-over-year to $804.4M, reflecting rapid business expansion. This strong growth earns a score of 82/100.

Leverage

X Financial carries a low D/E ratio of 0.70, meaning only $0.70 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

X Financial converts 25.7% of revenue into free cash flow ($206.8M). This strong cash generation earns a score of 100/100.

Returns

X Financial earns a strong 22.1% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is up from 20.3% the prior year.

Piotroski F-Score Neutral

6/9

X Financial passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.99x

For every $1 of reported earnings, X Financial generates $0.99 in operating cash flow ($208.7M OCF vs $211.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$804.4M

YoY+18.6%

5Y CAGR+12.6%

X Financial generated $804.4M in revenue in fiscal year 2024. This represents an increase of 18.6% from the prior year.

EBITDA

$257.7M

YoY+26.8%

5Y CAGR+16.8%

X Financial's EBITDA was $257.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.8% from the prior year.

Free Cash Flow

$206.8M

YoY+82.2%

5Y CAGR+19.7%

X Financial generated $206.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 82.2% from the prior year.

Net Income

$211.0M

YoY+26.2%

5Y CAGR+13.7%

X Financial reported $211.0M in net income in fiscal year 2024. This represents an increase of 26.2% from the prior year.

EPS (Diluted)

$0.72

YoY+26.3%

5Y CAGR+15.5%

X Financial earned $0.72 per diluted share (EPS) in fiscal year 2024. This represents an increase of 26.3% from the prior year.

Cash & Debt

$134.9M

YoY-19.9%

5Y CAGR-1.4%

X Financial held $134.9M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

251M

YoY-14.6%

5Y CAGR-4.8%

X Financial had 251M shares outstanding in fiscal year 2024. This represents a decrease of 14.6% from the prior year.

Gross Margin

70.4%

YoY+30.0pp

5Y CAGR+23.3pp

X Financial's gross margin was 70.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 30.0 percentage points from the prior year.

Operating Margin

31.9%

YoY+2.1pp

5Y CAGR+5.6pp

X Financial's operating margin was 31.9% in fiscal year 2024, reflecting core business profitability. This is up 2.1 percentage points from the prior year.

Net Margin

26.2%

YoY+1.6pp

5Y CAGR+1.2pp

X Financial's net profit margin was 26.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.6 percentage points from the prior year.

Return on Equity

22.1%

YoY+1.8pp

5Y CAGR+4.4pp

X Financial's ROE was 22.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.8 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$25.0M

YoY+612.5%

X Financial spent $25.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 612.5% from the prior year.

Capital Expenditures

$1.9M

YoY+63.4%

5Y CAGR-2.2%

X Financial invested $1.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 63.4% from the prior year.

XYF Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$804.4M+18.6%	$678.2M+31.3%	$516.6M-9.2%	$569.1M+69.3%	$336.1M-24.2%	$443.6M
Cost of Revenue	$238.1M-41.1%	$404.2M+31.1%	$308.3M+0.1%	$308.0M-3.0%	$317.5M+35.2%	$234.8M
Gross Profit	$566.3M+106.7%	$274.0M+31.6%	$208.2M-20.2%	$261.0M+1302.4%	$18.6M-91.1%	$208.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$24.1M-8.3%	$26.3M+5.6%	$24.9M-15.6%	$29.5M+7.3%	$27.5M-15.9%	$32.7M
Operating Income	$256.7M+26.8%	$202.5M+29.0%	$156.9M-23.7%	$205.7M+193.9%	-$219.2M-287.8%	$116.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$55.6M+58.2%	$35.1M-37.8%	$56.5M-2.4%	$57.9M+25.9%	$46.0M+443.7%	-$13.4M
Net Income	$211.0M+26.2%	$167.2M+42.0%	$117.7M-9.1%	$129.5M+164.6%	-$200.5M-280.3%	$111.2M
EPS (Diluted)	$0.72+26.3%	$0.57+54.1%	$0.37-2.6%	$0.38+161.3%	$-0.62-277.1%	$0.35

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	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
Gross Profit	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
SG&A Expenses	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
Interest Expense	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
Net Income	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

XYF Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.6B-1.3%	$1.6B+28.1%	$1.3B+11.2%	$1.2B+0.3%	$1.1B-3.4%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$134.9M-19.9%	$168.4M+92.8%	$87.3M-4.8%	$91.8M-19.8%	$114.4M-20.8%	$144.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$666.7M-18.4%	$817.3M+38.0%	$592.2M+12.1%	$528.2M-22.1%	$677.7M+20.6%	$562.1M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$952.6M+15.7%	$823.6M+19.5%	$689.2M+10.4%	$624.1M+32.4%	$471.2M-24.9%	$627.1M
Retained Earnings	$571.9M+50.8%	$379.2M+61.1%	$235.3M+84.9%	$127.2M+5805.7%	-$2.2M-101.2%	$188.3M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$1.6B-1.3%	$1.6B+28.1%	$1.3B+11.2%	$1.2B+0.3%	$1.1B-3.4%	$1.2B+76.4%	$674.4M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$134.9M-19.9%	$168.4M+92.8%	$87.3M-4.8%	$91.8M-19.8%	$114.4M-20.8%	$144.5M-7.1%	$155.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$666.7M-18.4%	$817.3M+38.0%	$592.2M+12.1%	$528.2M-22.1%	$677.7M+20.6%	$562.1M+245.4%	$162.7M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$952.6M+15.7%	$823.6M+19.5%	$689.2M+10.4%	$624.1M+32.4%	$471.2M-24.9%	$627.1M+22.6%	$511.5M
Retained Earnings	$571.9M+50.8%	$379.2M+61.1%	$235.3M+84.9%	$127.2M+5805.7%	-$2.2M-101.2%	$188.3M+102.3%	$93.1M

XYF Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$208.7M+82.0%	$114.7M+145.1%	$46.8M-33.6%	$70.5M+167.7%	-$104.1M-220.7%	$86.3M
Capital Expenditures	$1.9M+63.4%	$1.2M+35.9%	$878K+113.5%	$411K-50.0%	$822K-62.2%	$2.2M
Free Cash Flow	$206.8M+82.2%	$113.5M+147.2%	$45.9M-34.5%	$70.1M+166.8%	-$104.9M-224.8%	$84.1M
Investing Cash Flow	$16.7M+110.7%	-$155.8M-17.7%	-$132.4M+64.1%	-$368.4M+35.1%	-$567.8M-28.3%	-$442.4M
Financing Cash Flow	-$265.1M-253.4%	$172.9M+106.9%	$83.6M-59.1%	$204.2M-70.3%	$688.2M+76.7%	$389.4M
Dividends Paid	$16.0M+94.3%	$8.2M	N/A	N/A	N/A	$14.8M
Share Buybacks	$25.0M+612.5%	$3.5M-83.5%	$21.3M	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	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
Free Cash Flow	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
Financing Cash Flow	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
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XYF Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	70.4%+30.0pp	40.4%+0.1pp	40.3%-5.6pp	45.9%+40.3pp	5.5%-41.5pp	47.1%
Operating Margin	31.9%+2.1pp	29.9%-0.5pp	30.4%-5.8pp	36.1%+101.4pp	-65.2%-91.5pp	26.3%
Net Margin	26.2%+1.6pp	24.6%+1.9pp	22.8%+0.0pp	22.8%+82.4pp	-59.7%-84.7pp	25.1%
Return on Equity	22.1%+1.8pp	20.3%+3.2pp	17.1%-3.7pp	20.8%	N/A	17.7%
Return on Assets	13.0%+2.8pp	10.2%+1.0pp	9.2%-2.1pp	11.2%+28.7pp	-17.4%-26.8pp	9.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.70-0.3	0.99+0.1	0.86+0.0	0.85-0.6	1.44+0.5	0.90
FCF Margin	25.7%+9.0pp	16.7%+7.8pp	8.9%-3.4pp	12.3%+43.5pp	-31.2%-50.2pp	19.0%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	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
Net Margin	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
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.70-0.3	0.99+0.1	0.86+0.0	0.85-0.6	1.44+0.5	0.90+0.6	0.32
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is X Financial's annual revenue?

X Financial (XYF) reported $804.4M in total revenue for fiscal year 2024. This represents a 18.6% 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 X Financial's revenue growing?

X Financial (XYF) revenue grew by 18.6% year-over-year, from $678.2M to $804.4M in fiscal year 2024.

Is X Financial profitable?

Yes, X Financial (XYF) reported a net income of $211.0M in fiscal year 2024, with a net profit margin of 26.2%.

What is X Financial's earnings per share (EPS)?

X Financial (XYF) reported diluted earnings per share of $0.72 for fiscal year 2024. This represents a 26.3% 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 X Financial's EBITDA?

X Financial (XYF) had EBITDA of $257.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is X Financial's gross margin?

X Financial (XYF) had a gross margin of 70.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is X Financial's operating margin?

X Financial (XYF) had an operating margin of 31.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is X Financial's net profit margin?

X Financial (XYF) had a net profit margin of 26.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is X Financial's return on equity (ROE)?

X Financial (XYF) has a return on equity of 22.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is X Financial's free cash flow?

X Financial (XYF) generated $206.8M in free cash flow during fiscal year 2024. This represents a 82.2% 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 X Financial's operating cash flow?

X Financial (XYF) generated $208.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are X Financial's total assets?

X Financial (XYF) had $1.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are X Financial's capital expenditures?

X Financial (XYF) invested $1.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does X Financial buy back shares?

Yes, X Financial (XYF) spent $25.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does X Financial have outstanding?

X Financial (XYF) had 251M shares outstanding as of fiscal year 2024.

What is X Financial's debt-to-equity ratio?

X Financial (XYF) had a debt-to-equity ratio of 0.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is X Financial's return on assets (ROA)?

X Financial (XYF) had a return on assets of 13.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is X Financial's Piotroski F-Score?

X Financial (XYF) has a Piotroski F-Score of 6 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 X Financial's earnings high quality?

X Financial (XYF) has an earnings quality ratio of 0.99x, 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.

How financially healthy is X Financial?

X Financial (XYF) scores 91 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.