XPEV

MKT CAP:$16B

XPeng Inc.

Market Cap

$16B

Consumer Cyclical·Auto - Manufacturers·🇨🇳 China·NYSE

Consumer Cyc.·Auto·🇨🇳·NYSE

Stock Price

$15.90-$4.53 (-22.17%)

Apr 23, 2026

Company Details

XPeng Inc. designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. Th...

CEO

Xiaopeng He

IPO Date

Aug 27, 2020

Website

heyxpeng.com

Key Metrics TTM

Revenue

$11.2B

+87.0% YoY

Net Income

-$167M

EPS (Diluted)

-$0.12

Free Cash Flow

$0

Revenue / Share

$23.08

Gross Margin

18.9%

Operating Margin

-4.8%

Net Margin

-1.5%

FCF Margin

0.0%

P/S

1.4x

P/E

—

Earnings Reports

FY 2025

Dec 30, 2025

$10.9B+82.6%EPS -$0.35

Q4 2025

Mar 20, 2026

$3.2B+36.3%EPS $0.11

Q3 2025

Nov 17, 2025

$3.0B+101.8%EPS -$0.06

Q2 2025

Aug 19, 2025

$2.7B+125.3%EPS -$0.07

Q1 2025

May 21, 2025

$2.3B+141.5%EPS -$0.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1.1B	$133M	-$281M
Q2 22	$1.1B	$118M	-$305M
Q3 22	$997M	$135M	-$318M
Q4 22	$751M	$65M	-$368M
Q1 23	$589M	$10M	-$378M
Q2 23	$740M	-$29M	-$452M
Q3 23	$1.2B	-$33M	-$462M
Q4 23	$1.9B	$118M	-$300M
Q1 24	$957M	$123M	-$241M
Q2 24	$1.2B	$166M	-$235M
Q3 24	$1.5B	$225M	-$270M
Q4 24	$2.4B	$340M	-$227M
Q1 25	$2.3B	$359M	-$152M
Q2 25	$2.7B	$463M	-$137M
Q3 25	$3.0B	$600M	-$110M
Q4 25	$3.2B	$683M	-$133M

Valuation

Quarter	P/S	P/E
Q1 22	6.2x	—
Q2 22	6.9x	—
Q3 22	2.3x	—
Q4 22	2.2x	—
Q1 23	2.8x	—
Q2 23	3.9x	—
Q3 23	5.1x	—
Q4 23	2.7x	—
Q1 24	1.5x	—
Q2 24	1.4x	—
Q3 24	2.1x	—
Q4 24	1.9x	—
Q1 25	2.7x	—
Q2 25	1.9x	—
Q3 25	2.1x	—
Q4 25	1.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$0	$0
Q4 21	$0	$0
Q1 22	$0	$0
Q2 22	$60M	$60M
Q3 22	$22M	$22M
Q4 22	$22M	$22M
Q1 23	$0	$0
Q2 23	$38M	$38M
Q3 23	$18M	$18M
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
Q3 21	$0
Q4 21	$0
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 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 22	+152.6%	+143.2%
Q2 22	+97.7%	+83.1%
Q3 22	+19.3%	+19.6%
Q4 22	-39.9%	-30.3%
Q1 23	-45.9%	-29.4%
Q2 23	-31.9%	-14.4%
Q3 23	+25.0%	+29.9%
Q4 23	+153.9%	+97.2%
Q1 24	+62.3%	+23.8%
Q2 24	+60.2%	+19.2%
Q3 24	+18.4%	+2.2%
Q4 24	+23.4%	+16.9%
Q1 25	+141.5%	+105.7%
Q2 25	+125.3%	+97.6%
Q3 25	+101.8%	+76.9%
Q4 25	+36.3%	+29.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$15M	1.8%
Q4 21	$13M	1.0%
Q1 22	$0	0.0%
Q2 22	$60M	5.5%
Q3 22	$22M	2.2%
Q4 22	$22M	2.9%
Q1 23	$0	0.0%
Q2 23	$38M	5.1%
Q3 23	$18M	1.5%
Q4 23	$24M	1.3%
Q1 24	$0	0.0%
Q2 24	$12M	1.0%
Q3 24	$17M	1.1%
Q4 24	-$29M	-1.2%
Q1 25	$0	0.0%
Q2 25	$18M	0.7%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$178M	$240M
Q2 22	$185M	$243M
Q3 22	$219M	$238M
Q4 22	$180M	$257M
Q1 23	$189M	$203M
Q2 23	$200M	$226M
Q3 23	$191M	$247M
Q4 23	$191M	$283M
Q1 24	$197M	$203M
Q2 24	$214M	$230M
Q3 24	$239M	$239M
Q4 24	$293M	$332M
Q1 25	$289M	$284M
Q2 25	$322M	$317M
Q3 25	$355M	$364M
Q4 25	$414M	$402M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.4B	$3.8B	$5.2B
Q2 22	$1.3B	$3.4B	$4.7B
Q3 22	$1.7B	$3.0B	$4.6B
Q4 22	$2.1B	$2.4B	$4.5B
Q1 23	$1.3B	$2.2B	$3.5B
Q2 23	$1.6B	$1.7B	$3.3B
Q3 23	$1.8B	$1.8B	$3.6B
Q4 23	$3.1B	$2.6B	$5.7B
Q1 24	$2.1B	$2.8B	$4.9B
Q2 24	$2.1B	$2.0B	$4.1B
Q3 24	$1.6B	$2.4B	$4.0B
Q4 24	$2.7B	$2.1B	$4.8B
Q1 25	$2.6B	$2.3B	$4.9B
Q2 25	$2.7B	$2.2B	$4.9B
Q3 25	$2.6B	$2.5B	$5.1B
Q4 25	$3.5B	$2.2B	$5.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	851M	+0.1%	-0.5%
Q2 22	854M	+0.3%	-0.2%
Q3 22	859M	+0.6%	+1.7%
Q4 22	860M	+0.1%	+1.1%
Q1 23	861M	+0.1%	+1.1%
Q2 23	862M	+0.1%	+0.9%
Q3 23	865M	+0.4%	+0.7%
Q4 23	934M	+8.0%	+8.6%
Q1 24	943M	+0.9%	+9.5%
Q2 24	944M	+0.1%	+9.6%
Q3 24	944M	-0.0%	+9.1%
Q4 24	946M	+0.2%	+1.2%
Q1 25	946M	0.0%	+0.3%
Q2 25	946M	0.0%	+0.2%
Q3 25	953M	+0.7%	+0.9%
Q4 25	484M	-49.2%	-48.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$77.9K	14K
Q2 22	$77.7K	14K
Q3 22	$71.3K	14K
Q4 22	$47.4K	16K
Q1 23	$37.2K	16K
Q2 23	$46.7K	16K
Q3 23	$78.7K	16K
Q4 23	$140.7K	14K
Q1 24	$70.6K	14K
Q2 24	$87.5K	14K
Q3 24	$108.9K	14K
Q4 24	$153.2K	15K
Q1 25	$150.4K	15K
Q2 25	$173.8K	15K
Q3 25	$193.8K	15K
Q4 25	$208.7K	15K

Revenue / Employee