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

X Financial (XYF) reported diluted earnings per share of $0.84 for fiscal year 2025. This represents a 16.7% 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.

X Financial Financials

XYF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 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 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).

Rhea AI XYF FY2024 2026-04-30

A lighter cost base and near-complete cash conversion let the business strengthen its balance sheet while returning capital.

In the latest year, net income and operating cash flow nearly matched at $211.0M and $208.7M, showing that reported profit was backed by actual cash rather than a large accounting gap. With capex only $1.9M, that left free cash flow at $206.8M, which helps explain why financing cash flow turned negative even as debt-to-equity fell.

The biggest operating shift sits in the margin shape: gross margin reached 70.4% while operating margin was only 31.9%. That wide spread says the business got much cheaper to fulfill or mixed toward higher-margin activity, but not all of that gain flowed through the rest of the cost base.

The balance sheet got sturdier while cash was still sent out: liabilities fell to $666.7M and equity rose to $952.6M. Combined with buybacks and dividends, that points to internally funded capital returns rather than a company relying more heavily on outside financing.

Financial Health Signals

Financial Profile 62/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of X Financial'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.

Profitability

X Financial has an operating margin of 21.3%, meaning the company retains $21 of operating profit per $100 of revenue. This strong profitability earns a score of 80/100, reflecting efficient cost management and pricing power. This is down from 31.9% the prior year.

Growth

X Financial's revenue surged 35.8% year-over-year to $1.1B, reflecting rapid business expansion. This strong growth earns a score of 78/100.

Leverage

X Financial carries a low D/E ratio of 0.87, meaning only $0.87 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

X Financial converts 18.9% of revenue into free cash flow ($206.7M). This strong cash generation earns a score of 76/100.

Returns

X Financial's ROE of 18.7% shows moderate profitability relative to equity, earning a score of 56/100. This is down from 22.1% 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 Cash-Backed

1.00x

For every $1 of reported earnings, X Financial generates $1.00 in operating cash flow ($209.9M OCF vs $209.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.1B

YoY+35.8%

5Y CAGR+26.6%

X Financial generated $1.1B in revenue in fiscal year 2025. This represents an increase of 35.8% from the prior year.

EBITDA

$234.7M

YoY-8.9%

X Financial's EBITDA was $234.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 8.9% from the prior year.

Net Income

$209.4M

YoY-0.7%

X Financial reported $209.4M in net income in fiscal year 2025. This represents a decrease of 0.7% from the prior year.

EPS (Diluted)

$0.84

YoY+16.7%

X Financial earned $0.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 16.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$206.7M

YoY-0.0%

X Financial generated $206.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 0.0% from the prior year.

Cash & Debt

$141.2M

YoY+4.7%

5Y CAGR+4.3%

X Financial held $141.2M in cash against $230.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.09

YoY+216.8%

X Financial paid $0.09 per share in dividends in fiscal year 2025. This represents an increase of 216.8% from the prior year.

Shares Outstanding

235M

YoY-6.4%

5Y CAGR-6.2%

X Financial had 235M shares outstanding in fiscal year 2025. This represents a decrease of 6.4% from the prior year.

Margins & Returns

Gross Margin

73.6%

YoY+3.2pp

5Y CAGR+68.0pp

X Financial's gross margin was 73.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.2 percentage points from the prior year.

Operating Margin

21.3%

YoY-10.6pp

5Y CAGR+86.6pp

X Financial's operating margin was 21.3% in fiscal year 2025, reflecting core business profitability. This is down 10.6 percentage points from the prior year.

Net Margin

19.2%

YoY-7.1pp

5Y CAGR+78.8pp

X Financial's net profit margin was 19.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.1 percentage points from the prior year.

Return on Equity

18.7%

YoY-3.5pp

5Y CAGR+61.3pp

X Financial's ROE was 18.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$105.0M

YoY+320.5%

X Financial spent $105.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 320.5% from the prior year.

Capital Expenditures

$3.1M

YoY+60.6%

5Y CAGR+30.6%

X Financial invested $3.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 60.6% from the prior year.

XYF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.1B+35.8%	$804.4M+18.6%	$678.2M+31.3%	$516.6M-9.2%	$569.1M+69.3%	$336.1M
Cost of Revenue	$288.9M+21.3%	$238.1M-41.1%	$404.2M+31.1%	$308.3M+0.1%	$308.0M-3.0%	$317.5M
Gross Profit	$803.5M+41.9%	$566.3M+106.7%	$274.0M+31.6%	$208.2M-20.2%	$261.0M+1302.4%	$18.6M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$28.5M+18.4%	$24.1M-8.3%	$26.3M+5.6%	$24.9M-15.6%	$29.5M+7.3%	$27.5M
Operating Income	$233.1M-9.2%	$256.7M+26.8%	$202.5M+29.0%	$156.9M-23.7%	$205.7M+193.9%	-$219.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$41.7M-25.0%	$55.6M+58.2%	$35.1M-37.8%	$56.5M-2.4%	$57.9M+25.9%	$46.0M
Net Income	$209.4M-0.7%	$211.0M+26.2%	$167.2M+42.0%	$117.7M-9.1%	$129.5M+164.6%	-$200.5M
EPS (Diluted)	$0.84+16.7%	$0.72+26.3%	$0.57+54.1%	$0.37-2.6%	$0.38+161.3%	$-0.62

Metric	Q4'25	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	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

XYF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.1B+29.5%	$1.6B-1.3%	$1.6B+28.1%	$1.3B+11.2%	$1.2B+0.3%	$1.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$141.2M+4.7%	$134.9M-19.9%	$168.4M+92.8%	$87.3M-4.8%	$91.8M-19.8%	$114.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$213.3M	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	$976.5M+46.5%	$666.7M-18.4%	$817.3M+38.0%	$592.2M+12.1%	$528.2M-22.1%	$677.7M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$230.7M	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.1B+17.6%	$952.6M+15.7%	$823.6M+19.5%	$689.2M+10.4%	$624.1M+32.4%	$471.2M
Retained Earnings	$784.2M+37.1%	$571.9M+50.8%	$379.2M+61.1%	$235.3M+84.9%	$127.2M+5805.7%	-$2.2M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$2.1B+29.5%	$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	N/A
Cash & Equivalents	$141.2M+4.7%	$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	N/A
Accounts Receivable	N/A	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	N/A
Total Liabilities	$976.5M+46.5%	$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	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.1B+17.6%	$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	$784.2M+37.1%	$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	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$209.9M+0.6%	$208.7M+82.0%	$114.7M+145.1%	$46.8M-33.6%	$70.5M+167.7%	-$104.1M
Capital Expenditures	$3.1M+60.6%	$1.9M+63.4%	$1.2M+35.9%	$878K+113.5%	$411K-50.0%	$822K
Free Cash Flow	$206.7M0.0%	$206.8M+82.2%	$113.5M+147.2%	$45.9M-34.5%	$70.1M+166.8%	-$104.9M
Investing Cash Flow	-$152.5M-1012.0%	$16.7M+110.7%	-$155.8M-17.7%	-$132.4M+64.1%	-$368.4M+35.1%	-$567.8M
Financing Cash Flow	$11.3M+104.3%	-$265.1M-253.4%	$172.9M+106.9%	$83.6M-59.1%	$204.2M-70.3%	$688.2M
Dividends Paid	$22.1M+38.5%	$16.0M+94.3%	$8.2M	N/A	N/A	N/A
Share Buybacks	$105.0M+320.5%	$25.0M+612.5%	$3.5M-83.5%	$21.3M	N/A	N/A

Metric	Q4'25	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	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

XYF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	73.6%+3.2pp	70.4%+30.0pp	40.4%+0.1pp	40.3%-5.6pp	45.9%+40.3pp	5.5%
Operating Margin	21.3%-10.6pp	31.9%+2.1pp	29.9%-0.5pp	30.4%-5.8pp	36.1%+101.4pp	-65.2%
Net Margin	19.2%-7.1pp	26.2%+1.6pp	24.6%+1.9pp	22.8%+0.0pp	22.8%+82.4pp	-59.7%
Return on Equity	18.7%-3.5pp	22.1%+1.8pp	20.3%+3.2pp	17.1%-3.7pp	20.8%+63.3pp	-42.6%
Return on Assets	10.0%-3.0pp	13.0%+2.8pp	10.2%+1.0pp	9.2%-2.1pp	11.2%+28.7pp	-17.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.87+0.2	0.70-0.3	0.99+0.1	0.86+0.0	0.85-0.6	1.44
FCF Margin	18.9%-6.8pp	25.7%+9.0pp	16.7%+7.8pp	8.9%-3.4pp	12.3%+43.5pp	-31.2%

Metric	Q4'25	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	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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.87+0.2	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	N/A

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Frequently Asked Questions

What is X Financial's annual revenue?

X Financial (XYF) reported $1.1B in total revenue for fiscal year 2025. This represents a 35.8% 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 35.8% year-over-year, from $804.4M to $1.1B in fiscal year 2025.

Is X Financial profitable?

Yes, X Financial (XYF) reported a net income of $209.4M in fiscal year 2025, with a net profit margin of 19.2%.

What is X Financial's EBITDA?

X Financial (XYF) had EBITDA of $234.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does X Financial have?

As of fiscal year 2025, X Financial (XYF) had $141.2M in cash and equivalents against $230.7M in long-term debt.

What is X Financial's gross margin?

X Financial (XYF) had a gross margin of 73.6% in fiscal year 2025, 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 21.3% in fiscal year 2025, 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 19.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does X Financial pay dividends?

Yes, X Financial (XYF) paid $0.09 per share in dividends during fiscal year 2025.

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

X Financial (XYF) has a return on equity of 18.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is X Financial's free cash flow?

X Financial (XYF) generated $206.7M in free cash flow during fiscal year 2025. This represents a -0.0% 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 $209.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are X Financial's total assets?

X Financial (XYF) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are X Financial's capital expenditures?

X Financial (XYF) invested $3.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does X Financial buy back shares?

Yes, X Financial (XYF) spent $105.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does X Financial have outstanding?

X Financial (XYF) had 235M shares outstanding as of fiscal year 2025.

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

X Financial (XYF) had a debt-to-equity ratio of 0.87 as of fiscal year 2025, 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 10.0% for fiscal year 2025, 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 to 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 1.00x, 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.

How financially healthy is X Financial?

X Financial (XYF) scores 62 out of 100 on our Financial Profile, indicating moderate 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.