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LexinFintech Holdings Ltd.

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LexinFintech Holdings Ltd. • NASDAQ
$3.29 ▼ -0.30% (-0.01)
Market Cap $560.86 M
52w High $11.63
52w Low $3.21
Dividend Yield 0.30%
P/E 2.28
Volume 2.15M
Outstanding Shares 170.48M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.662B ▲ $-675.878M ▼ $309.557M ▼ 8.453% ▼ $1.86 ▼ $0 ▼
Q2-2025 $3.587B ▲ $820.715M ▲ $511.401M ▲ 14.255% ▲ $3 ▲ $451.969M ▼
Q1-2025 $3.104B ▼ $749.507M ▲ $430.324M ▲ 13.863% ▲ $2.54 ▲ $563.68M ▼
Q4-2024 $3.659B ▼ $710.679M ▲ $362.749M ▲ 9.914% ▲ $2.18 ▲ $589.718M ▲
Q3-2024 $3.662B $675.878M $309.557M 8.453% $1.88 $386.251M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.393B ▲ $22.241B ▼ $11.501B ▲ $10.74B ▼
Q2-2025 $2.077B ▼ $22.515B ▼ $10.91B ▼ $11.605B ▲
Q1-2025 $3.173B ▲ $22.619B ▲ $11.411B ▼ $11.208B ▲
Q4-2024 $2.334B ▼ $22.241B ▼ $11.501B ▼ $10.74B ▲
Q3-2024 $2.42B $22.525B $12.101B $10.424B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $511.401M ▲ $0 $0 $0 $0 $0
Q1-2025 $430.324M ▲ $0 $0 $0 $0 $0
Q4-2024 $362.749M ▲ $0 $0 $0 $0 $0
Q3-2024 $309.557M ▲ $0 $0 $0 $0 $0
Q2-2024 $226.531M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed steadily over the last few years, showing that demand for LexinFintech’s services is recovering after earlier volatility. Profitability has improved as well: gross profit, operating profit, and net income are all meaningfully higher than a few years ago. This suggests better cost control, more disciplined risk management, and a successful shift toward higher-margin, technology-driven services. Earnings were once quite up-and-down, but have now settled into a more stable, moderate profitability level rather than the previous boom-and-bust pattern. Overall, the income statement reflects a fintech platform that has moved from a more aggressive growth phase into a more mature, efficiency-focused stage, with healthier margins and more consistent results, though still exposed to credit and regulatory cycles in China.

Balance Sheet

Balance Sheet The balance sheet looks sturdier than it did several years ago. Total assets have grown gradually, but not in an overly aggressive way, which fits with the move toward a capital-light model. Debt levels were once quite high but have been brought down from their peak, easing financial risk, although leverage is still an important factor to watch. Shareholders’ equity has increased consistently, indicating accumulated profits and a stronger capital base. Cash holdings are solid but not excessive, suggesting the company has kept enough liquidity to run and grow the business while still returning some capital and not hoarding cash. Overall, the balance sheet shows a more balanced mix of funding, improving resilience but still reliant on continued credit quality and access to funding markets.

Cash Flow

Cash Flow Cash generation has been somewhat uneven year to year, but the trend is constructive. Operating cash flow has swung between weaker and stronger periods, which is typical for a consumer finance platform exposed to changing credit conditions and funding costs. In most recent years, the company has produced healthy positive operating cash flow, and after modest investment needs, free cash flow has generally been positive as well. Capital spending is relatively low, which fits a technology and platform business rather than a heavy asset operator. The main watchpoint is the variability: cash flows can tighten in more challenging credit or regulatory environments, even if accounting profits remain positive. Still, the recent pattern suggests the business is now capable of regularly funding itself and its growth from internal cash generation in normal conditions.

Competitive Edge

Competitive Edge LexinFintech operates in a very crowded Chinese fintech and consumer credit market, but it has carved out a clear niche. Its focus on young, educated, upwardly mobile consumers gives it a defined target segment that tends to have better credit quality and strong consumption needs. The combination of an e-commerce platform with installment finance creates a differentiated customer experience and a built-in acquisition channel that many pure lenders lack. A major strength is its AI- and data-driven risk engine, which allows fast lending decisions and improves credit screening, lowering losses and costs. The shift to a capital-light, “tech-empowerment” model—providing technology and services to partner banks and institutions—reduces the company’s own balance-sheet risk and deepens relationships with traditional financial players. On the other hand, it faces intense competition from large internet platforms, traditional banks improving their own digital capabilities, and other fintechs, all under tight and evolving Chinese regulation. Its early-stage international expansion offers diversification but also adds execution and regulatory complexity in new markets.

Innovation and R&D

Innovation and R&D Innovation is a central part of LexinFintech’s story. The company has built its operations around advanced AI and big data, using machine learning models to assess risk, detect fraud, and price credit in a more granular way than traditional lenders. Its in-house large language model, LexinGPT, is being applied to better understand customer needs and refine risk strategies, which could further sharpen underwriting and marketing over time. The proprietary “Fenqile” platform blends e-commerce with financing, turning shopping behavior into actionable data and giving LexinFintech a feedback loop to continuously train and improve its models. Beyond consumer loans, the company is expanding tech-empowerment services for financial institutions, applying its tools to help partners with customer acquisition, credit assessment, and collections. It is also experimenting with new technologies, including blockchain-related areas, and exploring overseas markets such as Latin America and Southeast Asia. Overall, LexinFintech appears committed to sustained R&D and product innovation, aiming to deepen its moat through technology rather than just scale.

Summary

LexinFintech today looks like a more mature and disciplined fintech platform than it was a few years ago. Revenue and profits have recovered and grown, margins have improved, and the business has shifted toward higher-quality, technology-based service revenue that relies less on its own balance sheet. The capital structure is healthier, with stronger equity and more manageable debt, and cash generation has generally become supportive of ongoing operations and growth. Competitively, the company benefits from a clear target demographic, a data-rich e-commerce plus finance ecosystem, and advanced AI-driven risk capabilities, all reinforced by an increasingly capital-light partnership model with traditional financial institutions. The main risks center on Chinese regulatory changes, credit cycles in consumer finance, intense domestic competition, and the complexity of international expansion. If LexinFintech can sustain its technology edge, manage credit risk prudently, and navigate regulatory and geographic diversification carefully, it is positioned as a notable fintech player with improving financial resilience and a strategy oriented around scalable, tech-enabled growth rather than pure loan volume expansion.

NEWS

November 25, 2025 · 6:00 AM UTC

Lexin Reports Q3 Financial Results, Strengthening Focus on Scenario-Based and Ecosystem Businesses with Great Operational Resilience and Solid Operational Performance

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