Latest Ratios: P/E Ratio -37.6x · EV/EBITDA N/A · ROE -3.6%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.5B | $9.7B | $11.2B | $12.7B | $8.5B | $41.3B | $36.6B | — | — |
| Enterprise Value | $14.5B | $23.0B | $8.5B | $7.0B | $5.0B | $33.6B | $9.7B | — | — |
| P/E Ratio → | -37.64 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.14 | 0.13 | 0.27 | 0.41 | 0.32 | 1.97 | 6.27 | — | — |
| P/B Ratio | 1.40 | 0.32 | 0.36 | 0.35 | 0.23 | 0.98 | 1.06 | — | — |
| P/FCF | 17.33 | 1.97 | — | — | — | — | — | — | — |
| P/OCF | 10.31 | 1.17 | — | 13.28 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.31 | 0.21 | 0.23 | 0.19 | 1.60 | 1.66 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 4.69 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.9% | 18.9% | 14.3% | 1.5% | 11.5% | 12.5% | 4.6% | -24.0% | -24.3% |
| Operating Margin | -5.8% | -5.8% | -16.3% | -35.5% | -32.4% | -31.3% | -73.5% | -162.9% | -17459.7% |
| Net Profit Margin | -1.5% | -1.5% | -14.2% | -33.8% | -34.0% | -23.2% | -46.7% | -159.0% | -14411.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.6% | -3.6% | -17.1% | -28.3% | -23.1% | -12.7% | -19.8% | — | — |
| ROA | -1.2% | -1.2% | -6.9% | -13.3% | -13.3% | -8.8% | -10.1% | -43.6% | -18.2% |
| ROIC | -8.9% | -8.9% | -16.9% | -24.9% | -18.3% | -22.6% | -475.3% | — | — |
| ROCE | -9.8% | -9.8% | -14.7% | -22.8% | -18.3% | -15.6% | -20.1% | -59.8% | -25.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.23 | 1.23 | 0.51 | 0.42 | 0.35 | 0.12 | 0.07 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.44 | -0.08 | -0.16 | -0.10 | -0.18 | -0.78 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 2.72 | — | — | — | — | — | — | — |
| Interest Coverage | -1.96 | -1.96 | -15.95 | -37.69 | -67.98 | -86.41 | -120.63 | -114.30 | -239.27 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.09 | 1.09 | 1.25 | 1.51 | 1.81 | 2.71 | 5.06 | 1.50 | 6.28 |
| Quick Ratio | 0.91 | 0.91 | 1.11 | 1.36 | 1.62 | 2.56 | 4.89 | 1.37 | 6.10 |
| Cash Ratio | 0.67 | 0.67 | 0.82 | 0.88 | 1.29 | 2.20 | 4.21 | 0.71 | 4.76 |
| Asset Turnover | — | 0.72 | 0.49 | 0.36 | 0.38 | 0.32 | 0.13 | 0.25 | 0.00 |
| Inventory Turnover | 5.83 | 5.83 | 6.30 | 5.47 | 5.26 | 6.90 | 4.15 | 6.34 | 0.07 |
| Days Sales Outstanding | — | 44.79 | 65.51 | 73.54 | 70.23 | 72.28 | 80.25 | 91.99 | 40901.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | 5.8% | 50.9% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $476M | $946M | $870M | $856M | $821M | $855M | $855M | $855M |
Intense domestic price competition
According to current market data, XPeng trades at a P/S ratio of 1.04, which suggests investors are pricing the company as a hardware-centric manufacturer rather than a high-margin software entity, despite the potential for future licensing revenue streams from its proprietary autonomous driving architecture.
The negative P/E of -34.48 reflects the company's ongoing struggle to achieve bottom-line profitability, leaving the market to rely on sales-based multiples. This valuation appears to discount the long-term value of the Volkswagen partnership, as the market remains skeptical of the company's ability to transition from a capital-intensive OEM to a scalable software-licensing business.
Based on reported figures, XPeng's ROIC has remained consistently negative, hovering around -1.9% in 2025Q2, which indicates that the company is currently destroying shareholder value by deploying capital into manufacturing and R&D at rates that exceed the returns generated by its vehicle and service operations.
The persistent negative return on capital suggests that the company's heavy investment in SEPA 2.0 and manufacturing facilities has yet to reach the critical mass required for efficient capital utilization. Investors should monitor whether the shift toward higher-margin technical service fees can eventually drive ROIC into positive territory, as current trends show a slow but insufficient improvement.
As reported in recent financial statements, XPeng's asset turnover ratio remains low at 0.20, highlighting the significant capital drag of its manufacturing footprint compared to more asset-light software peers, while the negative cash conversion cycle suggests the company is effectively utilizing supplier credit to manage liquidity.
The DPO of 132 days indicates that XPeng is leveraging its supplier relationships to defer cash outflows, which is a common but risky strategy for managing liquidity in a high-growth, cash-burning environment. This reliance on extended payment terms warrants further investigation, as any tightening of credit from suppliers could immediately strain the company's already thin liquidity position.
According to the latest quarterly filings, the debt-to-equity ratio has risen to 1.01, signaling that XPeng is increasingly reliant on external debt to fund its operations, a trend that contrasts sharply with the more conservative balance sheets of established global automotive manufacturers.
The negative interest coverage ratio of -6.07 confirms that the company is not generating sufficient operating income to cover its debt service obligations, necessitating ongoing reliance on external financing. This leverage profile suggests that the company remains vulnerable to interest rate volatility and potential credit market tightening, which could limit its ability to fund future R&D cycles.
Market participants frequently over-rely on monthly delivery volumes as a proxy for value, which obscures the underlying shift toward high-margin technical service revenue and risks mispricing the company's potential as a tier-0.5 software supplier rather than a traditional high-volume automotive manufacturer.
Focusing on delivery volume ignores the quality of earnings, specifically the near-100% margin contribution from technical service fees associated with the Volkswagen partnership. Analysts should instead prioritize the 'take rate' of software features and the growth of service-based revenue, as these metrics provide a more accurate reflection of the company's long-term competitive moat and potential for sustainable profitability.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying XPEV stock.
XPeng Inc.'s current P/E ratio is -37.6x. This places it at the 50th percentile of its historical range.
XPeng Inc.'s return on equity (ROE) is -3.6%. The historical average is -17.4%.
Based on historical data, XPeng Inc. is trading at a P/E of -37.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
XPeng Inc. has 18.9% gross margin and -5.8% operating margin.