XPeng Income Statement 2025-2011 | XPEV

Brief overview of financial performance at XPeng

This overview is based on financial performance over the past five years. XPeng reported revenue of 5.8 billion yuan in 2020 and 76.7 billion yuan by 2025. Overall revenue changed by +1212.7%, equal to an annualized rate of about 67.4%. Sales grew at a rate typical of a strong expansion phase.

The gross result shifted from 266 million yuan to 14.5 billion yuan, or +5341.2%. Direct costs grew more slowly than revenue and improved the economics of sales. Gross profit as a share of revenue changed from 4.6% to 18.9%. The margin shift points to a more favorable sales-and-cost structure.

Over the period, EBITDA shifted from −4 billion yuan to −967 million yuan, a change of +75.8%. Changes in revenue did not translate into comparable EBITDA performance. Comparing the endpoints gives EBITDA margins of −68.3% and −1.3%. Higher profitability strengthens the quality of operating growth.

The net financial result changed from −2.7 billion yuan to −1.1 billion yuan. Losses became smaller, but the business remains unprofitable.

The market value of the business moved from 36.3 billion yuan to 34.5 billion yuan, or −5.2%. The financial trend was stronger than the market valuation.

Conclusion

The figures do not all move in the same direction. The positive side is supported by sales growth, positive operating leverage and a stronger gross margin. The overall view is constrained by limited operating profitability. The key question is whether sales can be converted into sustainable profit.