XYF NYSE Finance Services Financials FY2016βFY2025
X Financial had $1.1B of revenue in fiscal 2025, up 30.3% on the year before. Over five years, revenue changed +27.3% a year on average.
Hi! I read X Financialβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+30.3%
Yes. Sales grew 30.3% last year.
Does it make a profit?
19.2%
Yes. It keeps 19.2% of every sale as profit.
Does profit turn into cash?
18.9%
Yes. 18.9% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
6 / 8
Mixed. It passes 6 of 8 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days X Financial did it, and the next one. Share prices often move a lot on those days.
Next results
November 19, 2026
Thursday Β· in 24 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Apr 30, 2026 | Period ended Dec 31, 2025 | Before the market opens | 20-F β |
| Apr 25, 2025 | Period ended Dec 31, 2024 | Before the market opens | 20-F β |
| Apr 29, 2024 | Period ended Dec 31, 2023 | After the market closes | 20-F β |
| Apr 27, 2023 | Period ended Dec 31, 2022 | After the market closes | 20-F β |
| Apr 28, 2022 | Period ended Dec 31, 2021 | Before the market opens | 20-F β |
| May 14, 2021 | Period ended Dec 31, 2020 | After the market closes | 20-F β |
| Jun 4, 2020 | Period ended Dec 31, 2019 | During market hours | 20-F β |
| Apr 25, 2019 | Period ended Dec 31, 2018 | Before the market opens | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· X Financial had $1.1B of revenue in fiscal 2025, up 30.3% on the year before. Over five years, revenue changed +27.3% a year on average. Its operating margin was 21.3%, down 10.6Β pts: of every 100 in sales, about 21 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA Β· X Financial made $204M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $201M in fiscal 2025, 18.9% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
KIRA Β· X Financial returned $124M to shareholders in fiscal 2025, 61% of free cash flow. The diluted share count fell 15.0%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· X Financial has $82.6M more cash than debt.
Cash, debt and the ratios that show how comfortably X Financial can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $92.1M | $87.3M | $168M | $135M | $141M |
| Debt incl. finance leases | $26.2M | $7.3M | $79.5M | $45.0M | $58.5M |
| Net debt / EBITDA | β0.3x | β0.4x | β0.4x | β0.3x | β0.4x |
| Debt / equity | 0.0x | 0.0x | 0.1x | 0.0x | 0.1x |
| Total assets | $1.2B | $1.3B | $1.6B | $1.6B | $2.1B |
| Total liabilities | $530M | $592M | $817M | $667M | $975M |
| Shareholders' equity | $626M | $689M | $823M | $953M | $1.1B |
| Net debt (β = net cash) | β$65.8M | β$80.0M | β$88.7M | β$89.9M | β$82.6M |
KIRA Β· Its return on capital was 18.2%: every 100 invested in the business earned about 18 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· X Financial passes 6 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 5 / 7 | 2 / 7 | 1 / 7 | 6 / 8 | 5 / 8 | 7 / 8 | 6 / 8 | 6 / 8 |
| Accruals ratio | β | 23.7% | 20.9% | 2.7% | β7.8% | 5.1% | 2.3% | β2.0% | 0.1% | β0.0% |
| Altman Z'' | β | β | β | β | β | β | β | β | β | β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $34.7M | $264M | $535M | $447M | $318M | $562M | $529M | $680M | $816M | $1.1B |
| Provision for credit losses | β | β | $6.1M | $5.4M | $32.9M | $11.8M | $24.5M | $19.7M | $27.0M | $150M |
| Gross profit | β$4.3M | $152M | $356M | $210M | $17.6M | $258M | $331M | $462M | $574M | $782M |
| Operating income | β$20.6M | $74.2M | $193M | $118M | β$207M | $203M | $180M | $206M | $260M | $227M |
| Pretax income | β$22.2M | $70.8M | $164M | $96.1M | β$232M | $185M | $181M | $207M | $263M | $243M |
| Income tax | β$4.1M | $20.5M | β$31.7M | β$13.5M | β$43.4M | $57.2M | $58.8M | $36.9M | $56.4M | $40.6M |
| Net income | β$18.0M | $50.3M | $133M | $112M | β$190M | $128M | $121M | $168M | $214M | $204M |
| Diluted EPS | β$0.45 | $1.08 | $2.64 | $2.10 | β$3.54 | $2.28 | $2.25 | $3.46 | $4.38 | $4.90 |
| Diluted shares | 0.04B | 0.05B | 0.05B | 0.05B | 0.05B | 0.06B | 0.05B | 0.05B | 0.05B | 0.04B |
| Cash flow | ||||||||||
| Cash from operations | $12.4M | β$91.0M | $0.8M | $86.9M | β$98.4M | $69.6M | $93.1M | $196M | $212M | $204M |
| Capital expenditure | $0.5M | $3.1M | $5.8M | $2.2M | $0.8M | $0.4M | $0.9M | $1.2M | $2.0M | $3.0M |
| Free cash flow | $11.9M | β$94.1M | β$5.0M | $84.7M | β$99.2M | $69.2M | $92.2M | $195M | $210M | $201M |
| Depreciation and amortization | $0.5M | $0.8M | $1.5M | $1.6M | $1.7M | $1.3M | $1.0M | $0.7M | $1.0M | $1.6M |
| Stock-based compensation | $5.7M | $11.0M | $26.0M | $22.7M | $11.6M | $13.7M | $8.0M | $6.0M | $5.6M | $8.5M |
| Share buybacks | β | β | β | β | β | $0.0M | $21.8M | $3.5M | $25.3M | $102M |
| Dividends paid | β | β | β | $14.9M | β | $0.0M | $0.0M | $8.2M | $16.2M | $21.5M |
| Dividends and buybacks | β | β | β | $14.9M | β | $0.0M | $21.8M | $11.8M | $41.5M | $124M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $72.6M | $103M | $155M | $145M | $115M | $92.1M | $87.3M | $168M | $135M | $141M |
| Total debt | β | β | β | β | $53.6M | $26.2M | $7.3M | $79.5M | $45.0M | $58.5M |
| Loans, net | β | $30.4M | $18.6M | $41.6M | $189M | $391M | $552M | β | β | β |
| Deposits | β | $20.6M | $19.5M | $15.6M | $3.3M | $3.3M | $2.9M | $2.8M | $1.6M | $1.7M |
| Property and equipment, net | β | $3.2M | $3.4M | $2.9M | $1.7M | $1.0M | $0.8M | $1.2M | $2.2M | $3.4M |
| Intangible assets | β | $0.2M | $4.1M | $5.0M | $5.7M | $5.8M | $5.3M | $5.2M | $5.0M | $5.6M |
| Total assets | β | $597M | $674M | $1.2B | $1.1B | $1.2B | $1.3B | $1.6B | $1.6B | $2.1B |
| Total liabilities | β | $326M | $163M | $562M | $676M | $530M | $592M | $817M | $667M | $975M |
| Shareholders' equity | $54.2M | $271M | $511M | $627M | $470M | $626M | $689M | $823M | $953M | $1.1B |
| Margins | ||||||||||
| Gross margin | β12.5% | 57.5% | 66.5% | 47.1% | 5.5% | 45.9% | 62.5% | 67.9% | 70.4% | 73.6% |
| Operating margin | β59.4% | 28.1% | 36.0% | 26.3% | β65.2% | 36.2% | 34.1% | 30.4% | 31.9% | 21.3% |
| EBITDA margin | β58.1% | 28.4% | 36.3% | 26.7% | β64.7% | 36.4% | 34.3% | 30.5% | 32.0% | 21.5% |
| Net margin | β51.9% | 19.0% | 24.9% | 25.1% | β59.7% | 22.8% | 22.8% | 24.6% | 26.2% | 19.2% |
| FCF margin | 34.4% | β35.6% | β0.9% | 19.0% | β31.2% | 12.3% | 17.4% | 28.7% | 25.7% | 18.9% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β40.0% | 25.0% | 20.0% | 23.1% | 23.7% | 18.2% |
| Return on equity | β33.2% | 31.0% | 34.1% | 19.7% | β34.5% | 23.3% | 18.3% | 22.2% | 24.1% | 19.7% |
| Return on assets | β | 8.4% | 21.0% | 12.0% | β16.2% | 11.1% | 9.9% | 11.5% | 13.1% | 11.0% |
| Return on tangible equity | β33.2% | 18.6% | 26.3% | 18.0% | β40.8% | 20.6% | 17.6% | 20.5% | 22.6% | 18.3% |
| Growth | ||||||||||
| Revenue growth | β | 662.8% | 102.4% | β16.5% | β28.9% | 77.0% | β5.9% | 28.5% | 20.0% | 30.3% |
| Net income growth | β | β | 165.1% | β16.0% | β269.2% | β | β5.8% | 38.9% | 27.7% | β4.8% |
| EPS growth | β | β | 143.7% | β20.4% | β268.4% | β | β1.5% | 53.9% | 26.6% | 12.0% |
| FCF growth | β | β890.0% | β | β | β217.1% | β | 33.2% | 111.8% | 7.4% | β4.1% |
| Share count change | β | 17.5% | 8.7% | 5.2% | 0.5% | 4.9% | β4.3% | β9.8% | 0.9% | β15.0% |
| Financial health | ||||||||||
| Net debt / EBITDA | β | β | β | β | β | β0.3x | β0.4x | β0.4x | β0.3x | β0.4x |
| Debt / equity | β | β | β | β | 0.1x | 0.0x | 0.0x | 0.1x | 0.0x | 0.1x |
| Loans / deposits | β | 147.2% | 95.6% | 265.8% | 5,756.5% | 11,821.9% | 19,342.0% | β | β | β |
| Provision / loans | β | β | 32.7% | 13.1% | 17.4% | 3.0% | 4.4% | β | β | β |
| Capital allocation | ||||||||||
| Capex / revenue | 1.5% | 1.2% | 1.1% | 0.5% | 0.2% | 0.1% | 0.2% | 0.2% | 0.2% | 0.3% |
| Stock comp / revenue | 16.5% | 4.1% | 4.9% | 5.1% | 3.7% | 2.4% | 1.5% | 0.9% | 0.7% | 0.8% |
| Payouts / FCF | β | β | β | 17.6% | β | 0.0% | 23.6% | 6.0% | 19.8% | 61.5% |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | 5.0 | 2.0 | 1.0 | 6.0 | 5.0 | 7.0 | 6.0 | 6.0 |
| Accruals ratio | β | 23.7% | 20.9% | 2.7% | β7.8% | 5.1% | 2.3% | β2.0% | 0.1% | β0.0% |
Source: SEC EDGAR XBRL filings (CIK 0001725033). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 6 ordinary shares). For information only β not investment advice. Check the original filings before relying on any figure.
