LexinFintech Holdings Ltd.
LX Nasdaq Finance Services Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$1.8B
7.3%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
$233M
52.6%
Free cash flow
Cash from operations minus capital spending.
$454M
291.4%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $1.31 EPS (TTM)
What LexinFintech Holdings Ltd. does
No business description yet.
- Legal name
- LexinFintech Holdings Ltd.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 29, 2026
- Accession · CIK
- 0001193125-26-189256
0001708259
Revenue and margins
LexinFintech Holdings Ltd. had $1.8B of revenue in fiscal 2025, down 7.3% on the year before.
FY16
Revenue $653M
FY17
Revenue $826M
FY18
Revenue $1.1B
FY19
Revenue $1.5B
FY20
Revenue $1.7B
FY21
Revenue $1.8B
FY22
Revenue $1.5B
FY23
Revenue $1.8B
FY24
Revenue $2.0B
FY25
Revenue $1.8B
FY16
Gross 13.9%
Operating —
Net −2.7%
FCF 8.0%
FY17
Gross 23.6%
Operating —
Net 4.3%
FCF 29.1%
FY18
Gross 39.6%
Operating —
Net 26.0%
FCF 36.1%
FY19
Gross 47.1%
Operating —
Net 21.6%
FCF −7.8%
FY20
Gross 31.2%
Operating —
Net 5.1%
FCF −2.6%
FY21
Gross 50.5%
Operating —
Net 20.5%
FCF 22.4%
FY22
Gross 30.8%
Operating —
Net 8.4%
FCF −0.9%
FY23
Gross 34.6%
Operating —
Net 8.2%
FCF 19.8%
FY24
Gross 35.4%
Operating —
Net 7.7%
FCF 5.9%
FY25
Gross 34.0%
Operating —
Net 12.8%
FCF 24.8%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income −$17.8M
FY17
Net income $35.6M
FY18
Net income $299M
FY19
Net income $332M
FY20
Net income $86.2M
FY21
Net income $362M
FY22
Net income $123M
FY23
Net income $150M
FY24
Net income $153M
FY25
Net income $233M
FY16
Diluted EPS −$0.61
FY17
Diluted EPS $0.05
FY18
Diluted EPS $1.65
FY19
Diluted EPS $1.78
FY20
Diluted EPS $0.45
FY21
Diluted EPS $1.78
FY22
Diluted EPS $0.66
FY23
Diluted EPS $0.90
FY24
Diluted EPS $0.90
FY25
Diluted EPS $1.31
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital —
Return on equity —
Return on assets −1.4%
FY17
Return on capital —
Return on equity 41.0%
Return on assets 2.0%
FY18
Return on capital —
Return on equity 69.6%
Return on assets 14.7%
FY19
Return on capital —
Return on equity 43.0%
Return on assets 14.5%
FY20
Return on capital —
Return on equity 9.6%
Return on assets 2.9%
FY21
Return on capital —
Return on equity 34.4%
Return on assets 11.3%
FY22
Return on capital —
Return on equity 9.7%
Return on assets 3.7%
FY23
Return on capital —
Return on equity 11.5%
Return on assets 4.6%
FY24
Return on capital —
Return on equity 10.8%
Return on assets 4.9%
FY25
Return on capital —
Return on equity 14.7%
Return on assets 7.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $454M in fiscal 2025, 24.8% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $52.3M
FY17
Free cash flow $240M
FY18
Free cash flow $414M
FY19
Free cash flow −$120M
FY20
Free cash flow −$43.1M
FY21
Free cash flow $395M
FY22
Free cash flow −$13.6M
FY23
Free cash flow $365M
FY24
Free cash flow $116M
FY25
Free cash flow $454M
FY16
Cash from operations $57.2M
Capital spending $4.8M
FY17
Cash from operations $246M
Capital spending $5.6M
FY18
Cash from operations $422M
Capital spending $8.2M
FY19
Cash from operations −$113M
Capital spending $7.2M
FY20
Cash from operations −$30.6M
Capital spending $12.5M
FY21
Cash from operations $414M
Capital spending $18.8M
FY22
Cash from operations $8.5M
Capital spending $22.1M
FY23
Cash from operations $398M
Capital spending $32.4M
FY24
Cash from operations $150M
Capital spending $34.3M
FY25
Cash from operations $503M
Capital spending $49.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
LexinFintech Holdings Ltd. returned $81.4M to shareholders in fiscal 2025, 18% of free cash flow. The diluted share count rose 4.7%.
FY16
Dividends —
Buybacks —
FY17
Dividends —
Buybacks —
FY18
Dividends —
Buybacks —
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends $19.1M
Buybacks —
FY24
Dividends $22.8M
Buybacks —
FY25
Dividends $53.3M
Buybacks $28.1M
Dividends
Buybacks
FY16
Diluted shares 0.06B
FY17
Diluted shares 0.07B
FY18
Diluted shares 0.18B
FY19
Diluted shares 0.19B
FY20
Diluted shares 0.21B
FY21
Diluted shares 0.21B
FY22
Diluted shares 0.20B
FY23
Diluted shares 0.18B
FY24
Diluted shares 0.17B
FY25
Diluted shares 0.18B
Balance sheet
Cash, debt and the ratios that show how comfortably LexinFintech Holdings Ltd. can carry it.
FY16
Cash $69.1M
Debt —
FY17
Cash $173M
Debt $26.6M
FY18
Cash $167M
Debt $64.6M
FY19
Cash $300M
Debt $293M
FY20
Cash $239M
Debt $285M
FY21
Cash $419M
Debt $236M
FY22
Cash $256M
Debt $160M
FY23
Cash $398M
Debt $87.9M
FY24
Cash $320M
Debt $87.0M
FY25
Cash $308M
Debt $107M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $419M | $256M | $398M | $320M | $308M |
| Debt incl. finance leases | $236M | $160M | $87.9M | $87.0M | $107M |
| Debt / equity | 0.2x | 0.1x | 0.1x | 0.1x | 0.1x |
| Current ratio | 1.6x | 1.4x | 1.5x | 1.9x | 1.9x |
| Quick ratio | 1.6x | 1.4x | 1.5x | 1.9x | 1.9x |
| Total assets | $3.3B | $3.3B | $3.3B | $3.0B | $3.3B |
| Total liabilities | $2.0B | $2.0B | $1.9B | $1.6B | $1.6B |
| Shareholders' equity | $1.3B | $1.3B | $1.4B | $1.5B | $1.7B |
| Net debt (− = net cash) | −$184M | −$95.8M | −$310M | −$233M | −$201M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
| Debt fell relative to assets | — | — | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ |
| Current ratio rose | — | ✓ | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ |
| Gross margin rose | — | ✓ | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | — | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ |
| F-score | — / 3 | 6 / 8 | 7 / 9 | 3 / 9 | 2 / 9 | 7 / 9 | 4 / 9 | 9 / 9 | 7 / 9 | 5 / 9 |
| Accruals ratio | −6.0% | −12.0% | −6.1% | 19.4% | 4.0% | −1.6% | 3.5% | −7.5% | 0.1% | −8.5% |
| Altman Z'' | — | — | — | — | — | — | — | — | — | — |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $653M | $826M | $1.1B | $1.5B | $1.7B | $1.8B | $1.5B | $1.8B | $2.0B | $1.8B |
| Provision for credit losses | $35.6M | $90.5M | $134M | — | — | — | — | — | — | — |
| Gross profit | $90.6M | $195M | $455M | $723M | $526M | $891M | $451M | $637M | $698M | $622M |
| Research and development | $19.2M | $34.8M | $48.4M | $60.2M | $68.7M | $85.2M | $86.6M | $72.5M | $80.3M | $82.8M |
| Interest expense | $7.3M | $11.2M | $3.5M | $5.7M | $11.2M | $9.8M | $8.3M | $7.1M | $1.3M | $3.2M |
| Pretax income | −$9.0M | $70.2M | $319M | $392M | $99.3M | $429M | $153M | $187M | $188M | $289M |
| Income tax | $8.8M | $34.7M | $20.0M | $59.6M | $13.1M | $67.5M | $30.1M | $36.8M | $35.2M | $55.4M |
| Net income | −$17.8M | $35.6M | $299M | $332M | $86.2M | $362M | $123M | $150M | $153M | $233M |
| Net income to common | −$33.5M | $3.8M | $299M | $332M | $86.2M | $362M | $122M | $150M | $153M | $233M |
| Diluted EPS | −$0.61 | $0.05 | $1.65 | $1.78 | $0.45 | $1.78 | $0.66 | $0.90 | $0.90 | $1.31 |
| Diluted shares | 0.06B | 0.07B | 0.18B | 0.19B | 0.21B | 0.21B | 0.20B | 0.18B | 0.17B | 0.18B |
| Cash flow | ||||||||||
| Cash from operations | $57.2M | $246M | $422M | −$113M | −$30.6M | $414M | $8.5M | $398M | $150M | $503M |
| Capital expenditure | $4.8M | $5.6M | $8.2M | $7.2M | $12.5M | $18.8M | $22.1M | $32.4M | $34.3M | $49.1M |
| Free cash flow | $52.3M | $240M | $414M | −$120M | −$43.1M | $395M | −$13.6M | $365M | $116M | $454M |
| Depreciation and amortization | $0.7M | $2.8M | $4.6M | $5.8M | $7.7M | $14.1M | $14.1M | $14.9M | $15.3M | $14.7M |
| Stock-based compensation | $3.6M | $11.2M | $18.5M | $25.7M | $28.8M | $29.1M | $23.2M | $16.6M | $13.1M | $13.4M |
| Share buybacks | — | — | — | — | — | — | — | — | — | $28.1M |
| Dividends paid | — | — | — | — | — | — | — | $19.1M | $22.8M | $53.3M |
| Dividends and buybacks | — | — | — | — | — | — | — | $19.1M | $22.8M | $81.4M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $69.1M | $173M | $167M | $300M | $239M | $419M | $256M | $398M | $320M | $308M |
| Total debt | — | $26.6M | $64.6M | $293M | $285M | $236M | $160M | $87.9M | $87.0M | $107M |
| Current assets | $1.1B | $2.0B | $1.5B | $2.4B | $2.5B | $2.6B | $2.6B | $2.6B | $2.5B | $2.6B |
| Current liabilities | $1.1B | $2.0B | $1.2B | $1.4B | $1.8B | $1.6B | $1.8B | $1.7B | $1.3B | $1.4B |
| Inventory | $15.5M | $15.6M | $8.3M | $15.3M | $7.2M | $7.5M | $7.8M | $4.7M | $3.1M | $3.4M |
| Property and equipment, net | $6.0M | $9.7M | $12.0M | $13.3M | $19.2M | $30.7M | $41.3M | $62.9M | $84.0M | $128M |
| Intangible assets | — | — | — | — | $153M | $152M | $135M | $126M | $118M | $118M |
| Total assets | $1.3B | $2.3B | $1.8B | $2.8B | $3.1B | $3.3B | $3.3B | $3.3B | $3.0B | $3.3B |
| Total liabilities | $1.3B | $2.0B | $1.2B | $1.8B | $2.3B | $2.0B | $2.0B | $1.9B | $1.6B | $1.6B |
| Shareholders' equity | −$88.1M | $261M | $597M | $948M | $840M | $1.3B | $1.3B | $1.4B | $1.5B | $1.7B |
| Margins | ||||||||||
| Gross margin | 13.9% | 23.6% | 39.6% | 47.1% | 31.2% | 50.5% | 30.8% | 34.6% | 35.4% | 34.0% |
| Net margin | −2.7% | 4.3% | 26.0% | 21.6% | 5.1% | 20.5% | 8.4% | 8.2% | 7.7% | 12.8% |
| FCF margin | 8.0% | 29.1% | 36.1% | −7.8% | −2.6% | 22.4% | −0.9% | 19.8% | 5.9% | 24.8% |
| Returns | ||||||||||
| Return on equity | — | 41.0% | 69.6% | 43.0% | 9.6% | 34.4% | 9.7% | 11.5% | 10.8% | 14.7% |
| Return on assets | −1.4% | 2.0% | 14.7% | 14.5% | 2.9% | 11.3% | 3.7% | 4.6% | 4.9% | 7.3% |
| Return on tangible equity | — | 1.5% | 50.0% | 35.0% | 12.6% | 32.6% | 10.9% | 12.1% | 11.3% | 14.7% |
| Growth | ||||||||||
| Revenue growth | — | 26.5% | 39.0% | 33.7% | 10.0% | 4.6% | −17.0% | 25.8% | 7.1% | −7.3% |
| Net income growth | — | — | 740.2% | 11.1% | −74.0% | 319.8% | −66.1% | 22.7% | 1.6% | 52.6% |
| EPS growth | — | — | 2,996.2% | 7.9% | −74.6% | 293.1% | −63.1% | 36.3% | 0.6% | 45.9% |
| FCF growth | — | 359.3% | 72.3% | −128.9% | — | — | −103.4% | — | −68.3% | 291.4% |
| Share count change | — | 27.3% | 157.5% | 3.6% | 9.4% | 0.9% | −5.4% | −8.4% | −5.7% | 4.7% |
| Financial health | ||||||||||
| Debt / equity | — | 0.1x | 0.1x | 0.3x | 0.3x | 0.2x | 0.1x | 0.1x | 0.1x | 0.1x |
| Current ratio | 0.9x | 1.0x | 1.3x | 1.7x | 1.4x | 1.6x | 1.4x | 1.5x | 1.9x | 1.9x |
| Quick ratio | 0.9x | 1.0x | 1.3x | 1.7x | 1.4x | 1.6x | 1.4x | 1.5x | 1.9x | 1.9x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.7% | 0.7% | 0.7% | 0.5% | 0.7% | 1.1% | 1.5% | 1.8% | 1.7% | 2.7% |
| Stock comp / revenue | 0.6% | 1.4% | 1.6% | 1.7% | 1.7% | 1.7% | 1.6% | 0.9% | 0.7% | 0.7% |
| Payouts / FCF | — | — | — | — | — | — | — | 5.2% | 19.7% | 17.9% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 6.0 | 7.0 | 3.0 | 2.0 | 7.0 | 4.0 | 9.0 | 7.0 | 5.0 |
| Accruals ratio | −6.0% | −12.0% | −6.1% | 19.4% | 4.0% | −1.6% | 3.5% | −7.5% | 0.1% | −8.5% |
Source: SEC EDGAR XBRL filings (CIK 0001708259). 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 = 2 ordinary shares). For information only — not investment advice. Check the original filings before relying on any figure.