LX

MKT CAP:$364M

LexinFintech Holdings Ltd.

Market Cap

$364M

Financial Services·Financial - Credit Services·🇨🇳 China·NASDAQ

Financials·Financial·🇨🇳·NASDAQ

Stock Price

$2.33-$0.91 (-28.09%)

Apr 21, 2026

Company Details

LexinFintech Holdings Ltd., through its subsidiaries, offers online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment p...

CEO

Wenjie Xiao

IPO Date

Dec 21, 2017

Website

www.lexin.com

Key Metrics TTM

Revenue

$1.9B

-7.7% YoY

Net Income

$245M

EPS (Diluted)

$1.37

Free Cash Flow

$0

Revenue / Share

$11.07

Gross Margin

44.4%

Operating Margin

13.0%

Net Margin

12.8%

FCF Margin

0.0%

P/S

0.2x

P/E

1.5x

Earnings Reports

FY 2025

Dec 30, 2025

$1.9B-9.9%EPS $1.34

Q4 2025

Mar 19, 2026

$439M-18.0%EPS $0.17

Q3 2025

Nov 24, 2025

$499M-6.7%EPS $0.43

Q2 2025

Aug 7, 2025

$524M-1.5%EPS $0.42

Q1 2025

May 22, 2025

$454M-4.3%EPS $0.35

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$430M	$200M	$112M
Q2 21	$478M	$243M	$134M
Q3 21	$434M	$220M	$115M
Q4 21	$321M	$177M	$88M
Q1 22	$250M	$67M	-$25M
Q2 22	$353M	$93M	-$16M
Q1 23	$436M	$132M	$35M
Q4 23	$513M	$184M	$85M
Q1 24	$474M	$175M	$81M
Q2 24	$532M	$197M	$93M
Q3 24	$535M	$176M	$78M
Q4 24	$535M	$186M	$82M
Q1 25	$454M	$178M	$69M
Q2 25	$524M	$186M	$66M
Q3 25	$499M	$174M	$70M
Q4 25	$439M	$312M	$44M

Valuation

Quarter	P/S	P/E
Q1 21	1.0x	6.0x
Q2 21	1.3x	7.1x
Q3 21	0.6x	2.9x
Q4 21	0.4x	2.1x
Q1 22	0.4x	2.1x
Q2 22	0.3x	2.8x
Q1 23	0.4x	4.2x
Q4 23	0.2x	3.6x
Q1 24	0.2x	2.9x
Q2 24	0.1x	2.4x
Q3 24	0.2x	4.1x
Q4 24	0.5x	6.5x
Q1 25	0.8x	8.8x
Q2 25	0.6x	5.2x
Q3 25	0.5x	3.4x
Q4 25	0.3x	2.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 16	$59M	$57M
Q3 17	$66M	$65M
Q4 17	$98M	$97M
Q2 20	$0	$0
Q3 20	$0	$0
Q1 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q4 16	$2M
Q3 17	$1M
Q4 17	$836.8K
Q2 20	$0
Q3 20	$0
Q1 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+17.7%	-22.7%
Q2 21	+10.5%	-8.3%
Q3 21	-5.9%	-20.7%
Q4 21	-27.5%	-23.1%
Q1 22	-41.8%	-13.5%
Q2 22	-26.2%	+7.3%
Q1 23	+0.5%	+25.7%
Q4 23	+59.6%	+83.2%
Q1 24	+89.3%	+42.8%
Q2 24	+50.9%	+19.0%
Q3 24	+22.8%	+14.0%
Q4 24	+4.3%	+5.8%
Q1 25	-4.3%	-2.0%
Q2 25	-1.5%	+4.4%
Q3 25	-6.7%	-6.1%
Q4 25	-18.0%	-12.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 16	$1M	0.7%
Q3 17	$0	0.0%
Q4 17	$3M	1.2%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q1 23	$0	0.0%
Q4 23	$5M	0.9%
Q1 24	$3M	0.7%
Q2 24	$3M	0.6%
Q3 24	$3M	0.6%
Q4 24	$4M	0.7%
Q1 25	$4M	1.0%
Q2 25	$4M	0.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 21	$18M	$19M	$50M
Q2 21	$19M	$18M	$72M
Q3 21	$19M	$15M	$72M
Q4 21	$24M	$17M	$48M
Q1 22	$22M	$17M	$53M
Q2 22	$23M	$17M	$70M
Q1 23	$19M	$14M	$64M
Q4 23	$20M	$16M	$63M
Q1 24	$20M	$13M	$61M
Q2 24	$21M	$15M	$68M
Q3 24	$22M	$13M	$64M
Q4 24	$22M	$14M	$68M
Q1 25	$23M	$15M	$72M
Q2 25	$23M	$14M	$83M
Q3 25	$22M	$14M	$69M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$337M	$0	$337M
Q2 22	$301M	$0	$301M
Q3 22	$308M	$0	$308M
Q4 22	$218M	$39M	$258M
Q1 23	$335M	$0	$335M
Q2 23	$384M	$0	$384M
Q3 23	$369M	$0	$369M
Q4 23	$384M	$29M	$413M
Q1 24	$283M	$0	$283M
Q2 24	$306M	$50M	$356M
Q3 24	$315M	$39M	$354M
Q4 24	$329M	$12M	$341M
Q1 25	$464M	$0	$464M
Q2 25	$304M	$0	$304M
Q3 25	$320M	$0	$320M
Q4 25	$566M	$11M	$578M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	207M	+0.9%	+14.1%
Q2 21	209M	+0.6%	+1.6%
Q3 21	207M	-0.7%	+0.8%
Q4 21	207M	-0.0%	+0.7%
Q1 22	186M	-10.1%	-10.3%
Q2 22	201M	+8.2%	-3.5%
Q1 23	187M	-7.0%	-9.6%
Q4 23	166M	-11.3%	-19.8%
Q1 24	167M	+0.5%	-10.3%
Q2 24	168M	+0.5%	-16.7%
Q3 24	168M	+0.4%	-10.1%
Q4 24	176M	+4.4%	+5.9%
Q1 25	180M	+2.3%	+7.8%
Q2 25	179M	-0.3%	+6.9%
Q3 25	178M	-0.7%	+5.8%
Q4 25	173M	-2.8%	-1.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$129.8K	3K
Q2 21	$144.2K	3K
Q3 21	$130.9K	3K
Q4 21	$82.5K	4K
Q1 22	$64.2K	4K
Q2 22	$90.5K	4K
Q1 23	$112.6K	4K
Q4 23	$120.1K	4K
Q1 24	$111.0K	4K
Q2 24	$124.6K	4K
Q3 24	$125.4K	4K
Q4 24	$114.6K	5K
Q1 25	$97.2K	5K
Q2 25	$112.3K	5K
Q3 25	$107.0K	5K
Q4 25	$94.0K	5K

Revenue / Employee