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XPEV

XPeng Inc.

XPEV

XPeng Inc. • NYSE
$21.86 ▲ 3.43% (+0.72)
Market Cap $20.77 B
52w High $28.23
52w Low $11.14
Dividend Yield 0%
P/E -34.71
Volume 6.02M
Outstanding Shares 950.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $20.381B ▲ $4.855B ▲ $-380.868M ▲ -1.869% ▲ $-0.8 ▲ $-288.631M ▼
Q2-2025 $18.274B ▲ $4.102B ▲ $-477.754M ▲ -2.614% ▲ $-1.02 ▲ $83.937M ▲
Q1-2025 $15.811B ▼ $3.501B ▼ $-664.046M ▲ -4.2% ▲ $-1.4 ▲ $-383.395M ▲
Q4-2024 $16.105B ▲ $3.881B ▲ $-1.33B ▲ -8.258% ▲ $-2.82 ▼ $-1.083B ▲
Q3-2024 $10.102B $3.389B $-1.808B -17.895% $-1.9 $-1.204B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $34.697B ▲ $98.306B ▲ $68.317B ▲ $29.989B ▼
Q2-2025 $33.87B ▲ $92.427B ▲ $62.09B ▲ $30.337B ▼
Q1-2025 $33.629B ▲ $88.889B ▲ $58.184B ▲ $30.705B ▼
Q4-2024 $32.722B ▲ $82.706B ▲ $51.431B ▲ $31.275B ▼
Q3-2024 $24.156B $76.435B $44.408B $32.027B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-477.754M ▲ $0 $0 $0 $0 $0
Q1-2025 $-664.046M ▲ $0 $0 $0 $0 $0
Q4-2024 $-1.33B ▲ $0 $0 $0 $0 $0
Q3-2024 $-1.808B ▼ $0 $0 $0 $0 $0
Q2-2024 $-1.285B $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown quickly over the past few years, showing that XPeng is gaining traction with customers and launching more models successfully. However, the company is still firmly in the loss-making stage. Operating and net losses have been large every year, although they worsened in the middle of the period and then improved more recently. Profit margins were squeezed at one point, likely due to price competition and cost pressures, but the latest year shows a noticeable recovery in gross margin. Overall, the story is strong top-line growth paired with still-heavy, but starting-to-improve, losses driven by scale-up and R&D spending.

Balance Sheet

Balance Sheet The balance sheet shows a young growth company that has been building up its asset base and production capacity. Total assets have risen materially, supported by repeated capital raising and borrowing. Cash levels are still meaningful, but not as abundant relative to the company’s size as they once were, and debt has climbed steadily from very low levels to a more significant, though still manageable, level. Shareholders’ equity remains positive but has been eroded in recent years by ongoing losses. Financially, XPeng still has a cushion, but there is less room for prolonged large losses than in the early years.

Cash Flow

Cash Flow XPeng’s cash flows reflect a business investing heavily ahead of profits. Operating cash flow has swung around: deeply negative during intensive investment and inventory build, briefly positive when working capital helped, and slightly negative again most recently. Free cash flow has been consistently negative because capital spending on factories, technology, and infrastructure remains high. This means the company continues to depend on external funding—through equity, debt, or partnerships—to support its growth and development until its operations become sustainably cash-generative.

Competitive Edge

Competitive Edge XPeng competes in one of the most intense arenas in global autos: Chinese and international electric vehicles. Its main edge is its positioning as a “smart EV” brand, with strong in-house software, advanced driver-assistance systems, and a tech-forward user experience that appeals to younger, tech-savvy buyers. The company benefits from data collected from its growing fleet, which helps refine its autonomous and connected features. Partnerships with Volkswagen and cooperation on charging infrastructure add credibility and scale benefits. On the other hand, it faces fierce price competition, frequent new model launches from rivals, and the challenge of standing out against well-funded peers like Tesla, BYD, NIO, and others in both China and overseas markets.

Innovation and R&D

Innovation and R&D Innovation is at the core of XPeng’s strategy, and it spends heavily on it. The company develops its own autonomous driving system (XNGP), smart cockpit software, and a modular vehicle platform (SEPA 2.0) designed to lower costs and speed up model launches. It is also experimenting with extended-range vehicles, ultra-fast charging, robotics, and even flying cars through its affiliate—ambitious bets that could create new revenue streams but also add execution and focus risk. XPeng’s deep integration of hardware, software, and AI gives it a real technological edge, but maintaining that lead will likely require continued high R&D spending, which weighs on current profits.

Summary

XPeng is a fast-growing, technology-driven EV maker that has successfully expanded its sales and product lineup but has yet to prove durable profitability or cash self-sufficiency. Recent results suggest some improvement in margins and a narrowing of losses, yet the business still consumes cash and relies on a balance sheet that, while solid, is slowly being strained by ongoing deficits and rising debt. Its competitive strengths lie in software, autonomous driving, and a clear “smart EV” identity, supported by strategic partnerships and a rich innovation pipeline. The main risks are intense price and technology competition, heavy capital and R&D needs, and the uncertainty of turning ambitious projects and global expansion into sustainable, profitable scale over time.

NEWS

November 17, 2025 · 4:00 AM UTC

XPENG Reports Third Quarter 2025 Unaudited Financial Results

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October 31, 2025 · 10:28 PM UTC

XPENG Announces Vehicle Delivery Results for October 2025

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October 30, 2025 · 7:50 AM UTC

XPENG to Host 2025 XPENG AI Day

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October 20, 2025 · 2:16 PM UTC

XPENG AEROHT Makes Global Breakthrough with First Public Manned Flight in Dubai and Announces Rebrand to ARIDGE

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September 30, 2025 · 10:58 PM UTC

XPENG Announces Vehicle Delivery Results for September and Third Quarter 2025

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