Xpeng (XPEV) financial statements

Consumer Cyclical · Auto Manufacturers · Market cap $8.5B

Xpeng reported revenue of 76.7B CNY in fiscal 2025, up 260.4% a year over 7 years.

Net income was -1.1B CNY and the operating margin -3.6%, against -17459.7% in 2018.

Free cash flow was 5.1B CNY.

The diluted share count rose 477% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

-25025507510020182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CNY, from Xpeng's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Revenue10M CNY2.3B CNY5.8B CNY21.0B CNY26.9B CNY30.7B CNY40.9B CNY76.7B CNY
Cost of revenue12M CNY2.9B CNY5.6B CNY18.4B CNY23.8B CNY30.2B CNY35.0B CNY62.2B CNY
Gross profit-2M CNY-558M CNY266M CNY2.6B CNY3.1B CNY451M CNY5.8B CNY14.5B CNY
Research and development1.1B CNY2.1B CNY1.7B CNY4.1B CNY5.2B CNY5.3B CNY6.5B CNY9.5B CNY
Selling, general and admin643M CNY1.2B CNY2.9B CNY5.3B CNY6.7B CNY6.6B CNY6.9B CNY9.4B CNY
Operating income-1.7B CNY-3.8B CNY-4.3B CNY-6.6B CNY-8.7B CNY-10.9B CNY-6.7B CNY-2.8B CNY
Interest expense6M CNY32M CNY22M CNY55M CNY132M CNY269M CNY344M CNY380M CNY
Pre-tax income-1.4B CNY-3.7B CNY-2.7B CNY-4.8B CNY-9.1B CNY-10.4B CNY-5.8B CNY-1.2B CNY
Income tax0 CNY1,000 CNY1M CNY26M CNY25M CNY37M CNY-70M CNY14M CNY
Net income-1.4B CNY-3.7B CNY-2.7B CNY-4.9B CNY-9.1B CNY-10.4B CNY-5.8B CNY-1.1B CNY
EPS (diluted)-6.83 CNY-13.29 CNY-6.48 CNY-2.96 CNY-5.34 CNY-5.96 CNY-3.06 CNY-0.60 CNY
Diluted shares330M349M754M1.64B1.71B1.74B1.89B1.90B
Gross margin-24.3%-24.0%4.6%12.5%11.5%1.5%14.3%18.9%
Operating margin-17459.7%-162.9%-73.5%-31.3%-32.4%-35.5%-16.3%-3.6%
Net margin-14411.9%-159.0%-46.7%-23.2%-34.0%-33.8%-14.2%-1.5%

Balance sheet

Fiscal years, in CNY, from Xpeng's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Cash and short-term investments1.6B CNY1.9B CNY29.2B CNY11.0B CNY14.6B CNY21.1B CNY18.6B CNY17.3B CNY
Receivables—539M CNY1.1B CNY2.7B CNY3.9B CNY2.7B CNY2.4B CNY2.0B CNY
Inventory—454M CNY1.3B CNY2.7B CNY4.5B CNY5.5B CNY5.6B CNY10.4B CNY
Total current assets—5.0B CNY39.7B CNY48.8B CNY43.5B CNY54.5B CNY49.7B CNY63.3B CNY
Property, plant and equipment—3.2B CNY3.1B CNY5.4B CNY10.6B CNY11.0B CNY11.5B CNY13.5B CNY
Goodwill—————34M CNY34M CNY34M CNY
Total assets—9.3B CNY44.7B CNY65.7B CNY71.5B CNY84.2B CNY82.7B CNY103.2B CNY
Total current liabilities—3.3B CNY7.8B CNY18.0B CNY24.1B CNY36.1B CNY39.9B CNY58.1B CNY
Long-term debt—1.7B CNY1.6B CNY1.7B CNY4.6B CNY5.7B CNY5.7B CNY6.6B CNY
Total liabilities—6.4B CNY10.3B CNY23.5B CNY34.6B CNY47.8B CNY51.4B CNY72.8B CNY
Shareholders' equity-2.2B CNY-6.8B CNY34.4B CNY42.1B CNY36.9B CNY36.3B CNY31.3B CNY30.4B CNY
Net debt-1.6B CNY-197M CNY-27.5B CNY-9.3B CNY-9.2B CNY-14.1B CNY-11.1B CNY-8.9B CNY

Cash flow

Fiscal years, in CNY, from Xpeng's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Operating cash flow-1.6B CNY-3.6B CNY-140M CNY-1.1B CNY-8.2B CNY956M CNY-2.0B CNY8.3B CNY
Capital spending770M CNY1.8B CNY806M CNY2.3B CNY4.3B CNY2.1B CNY2.2B CNY3.2B CNY
Free cash flow-2.3B CNY-5.4B CNY-946M CNY-3.4B CNY-12.5B CNY-1.1B CNY-4.2B CNY5.1B CNY
Stock-based compensation2M CNY517,000 CNY996M CNY380M CNY710M CNY551M CNY474M CNY564M CNY
Net borrowing880M CNY872M CNY-352M CNY-143M CNY6.1B CNY3.1B CNY1.2B CNY577M CNY
Free cash flow margin-24140.3%-232.4%-16.2%-16.2%-46.6%-3.7%-10.4%6.7%
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Questions

What was Xpeng's revenue in 2025?

76.7B CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does Xpeng generate?

5.1B CNY in fiscal 2025 (operating cash flow minus capital spending).

From Xpeng's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.