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XPeng Inc. (XPEV)

XPeng designs, develops, manufactures and markets smart electric and other new energy vehicles in China, aimed at middle-class consumers, and is expanding abroad in the mid- to high-end segment of the passenger vehicle market. The company was founded in 2015 and launched its first models from December 2018. Its principal executive offices are in the Tianhe District of Guangzhou, with a registered office in the Cayman Islands. The figures are stated in renminbi.

XPeng Inc.

XPeng designs, develops, manufactures and markets smart electric and other new energy vehicles in China, aimed at middle-class consumers, and is expanding abroad in the mid- to high-end segment of the passenger vehicle market. The company was founded in 2015 and launched its first models from December 2018. Its principal executive offices are in the Tianhe District of Guangzhou, with a registered office in the Cayman Islands. The figures are stated in renminbi.

The approach

The company develops its full stack advanced driver assistance software in house and has it running on mass-produced vehicles. Its case is that fast iteration of software combined with tight integration into the hardware is what differentiates the cars, and that vehicles can be upgraded over the air to add functionality after they are sold. It states that customers choose its products for the design, the electrification and smart technologies, the interactive mobility experience and the driving range.

Assisted driving

XNGP began rolling out in March 2023 and has been available in cities without high-definition map coverage since November 2023, which widened its coverage across China. In May 2024 the company introduced an end-to-end model for smart driving, and in July it upgraded the system to nationwide availability with no restrictions on cities, routes or road conditions. The Hawkeye Visual Solution was revealed in August 2024, first fitted to the P7+ launched that November, with an over-the-air update in January 2025 extending the new system to other eligible models. In March 2026 it began a gradual rollout of VLA 2.0, its latest system.

The cars

The lineup is a diversified portfolio of models built out since December 2018 and continuously upgraded. The MONA M03, a battery electric model with a 2,815 mm wheelbase and a CLTC range between 510 km and 640 km, was upgraded to a 2026 Edition in April 2026, when presales of the GX also opened.

Charging

Customers can charge at home, at XPeng's own stations or at third-party stations. The 480kW S4 supercharging stations started launching in China in 2022. At the end of 2025 the self-operated network had grown to 3,159 stations, of which 2,654 were supercharging stations and 505 destination charging stations, and the S4 and S5 supercharging stations covered 222 cities in China including all the tier-1 and new tier-1 cities.

Selling, making and the DiDi deal

There were 721 stores covering 255 cities in China at the end of 2025, a mix of directly operated and franchised, alongside online marketing channels. After-sales runs both offline at the service centres and online, where the company monitors vehicle status in real time, remotely diagnoses faults and resolves some software issues over the air, with an intelligent remote diagnosis system meant to catch a system error before it happens. Vehicles are mainly made at the company's own Zhaoqing and Guangzhou plants; construction of a new base in Wuhan was complete as of March 2026 and had obtained its property ownership certificate. Overseas, the first G3 deliveries went to Norway in December 2020 and the footprint now spans several continents, with local manufacturing partners engaged and localised production projects started in 2025 in Europe and Southeast Asia. In August 2023 XPeng agreed to acquire DiDi's smart auto development business for newly issued Class A ordinary shares, issuing 58,164,217 shares at the initial closing in November 2023 and 4,636,447 more at the start-of-production closing in August 2024, when MONA M03 deliveries began; the two also agreed to cooperate on a new model, on running XPeng vehicles on DiDi's ride sharing platform, and on marketing, financial and insurance services, charging, robotaxi and international markets.

From XPeng's annual report on Form 20-F for the year ended 31 December 2025. The filing

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XPeng Inc. files a 20-F with the SEC once a year, in renminbi. In the year to 31 December 2025 it reported revenue of CNY 76,720 million ($10.7 billion at the year's average rate), up 87.7% on the year before. Its profit attributable to shareholders was CNY -1,139 million, and diluted earnings per share CNY -0.60.

XPeng (XPEV) in brief

XPeng (XPEV) reported revenue of CNY 76.7 billion for the year to 31 December 2025, up 87.7% on the year before.
Read moreLoss attributable to shareholders was CNY 1.1 billion and the diluted loss per share CNY 0.60. Revenue was CNY 40.9 billion in 2024, CNY 30.7 billion in 2023, CNY 26.9 billion in 2022 and CNY 21.0 billion in 2021. Profit attributable to shareholders in the same years was a loss of CNY 5.8 billion, a loss of CNY 10.4 billion, a loss of CNY 9.1 billion and a loss of CNY 4.9 billion. Revenue grew 67.4% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of XPeng was $9.7 billion.

The share in the US

Last close$10.13 on 10 November 2026
52-week range$9.03 (30 October 2026) to $28.07 (11 November 2025)
Over one yeardown 61.1%
Market cap$9.7 billion: 1,909,755,657 shares outstanding at 31 December 2025 (20-F, class A and class B), each US share standing for 2 ordinary shares

US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.

Ratios

From the latest annual report, the year to Dec 2025, in dollars

ROE-3.8%
ROCE-6.4%
Operating margin-3.6%
Net margin-1.5%
FCF margin6.7%
Interest covern/a
Debt to equity0.42
Cash conversionn/a
Share count, last 12 months0.7%
Sales CAGR, 3 years41.9%
Profit CAGR, 3 yearsn/a
EPSn/a

At the close of 10 November 2026

Price$10.13
Market cap$9.7 billion
Stock P/En/a
Price to book2.13
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales0.84
52-week high$28.07
52-week low$9.03
Price, 1 year-61.1%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of XPeng Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
XPEVgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed, times the 2 ordinary shares one US share stands for, in dollars at the year's average exchange rate (Federal Reserve, from FRED). Sales and margin are each year's revenue in dollars and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet in dollars at its year-end rate and its share count per US share. The dashed line is the median over the range shown. The P/E above uses today's exchange rate, so the latest point here can differ from it a little. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on XPEV

Dividendsno dividend in its filings for fiscal 2018 onward
Filings35 in twelve months: 33 reports on Form 6-K, most often notice of board meeting (4); grant of restricted share units (4); XPENG Announces Vehicle Delivery Results for October 2026 (1); XPENG Announces Vehicle Delivery Results for September and Third Quarter 2026 (1); 2026 中期報告 interim report (1)
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.34 by open interest at the 10 November 2026 close; the straddle prices a 3.0% move to 13 November 2026
13F holders221 funds reported a position for the quarter to 30 June 2026; largest Alibaba Group Holding Ltd
Congress0 House trades disclosed in six months
Short interest45.8 million shares short, 7.36 days to cover at 30 October 2026

Income statement (profit and loss), 8 fiscal years

Year toDec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue9.72,3215,84420,98826,85530,67640,86676,720
Cost of sales12.12,8795,57818,36623,76730,22535,02162,247
Gross profit-2.4-5582662,6233,0884515,84614,473
Research and development1,0512,0701,7264,1145,2155,2776,4579,490
Selling, general and administrative6431,1652,9215,3056,6886,5596,8719,398
Operating profit-1,695-3,781-4,294-6,579-8,706-10,889-6,658-2,771
Profit before tax-1,399-3,692-2,731-4,837-9,118-10,394-5,831-1,157
Income tax0.00.01.226.024.736.8-69.813.6
Profit attributable to shareholders-1,399-3,692-2,732-4,863-9,139-10,376-5,790-1,139
Filing20-F20-F20-F20-F20-F20-F20-F20-F
CNY million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the US GAAP tags the company filed.
Read moreA line the company does not file under the standard tag is left out rather than estimated. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.
Year toDec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Diluted EPS-6.83-13.29-6.48-2.96-5.34-5.96-3.06-0.60
Basic EPSn/an/a-6.48-2.96-5.34-5.96-3.06-0.60
Filing20-F20-F20-F20-F20-F20-F20-F20-F

CNY per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.

Revenue by product or service

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
Vehicle4.22,1715,54720,04224,84028,01135,82968,37989.1%
Services And Others5.61502989462,0152,6655,0378,34110.9%
VehicleServices And Others
0.01Dec 20182.3Dec 20195.8Dec 202021.0Dec 202126.9Dec 202230.7Dec 202340.9Dec 202476.7Dec 2025

CNY billion; hover a block for its figure and share

CNY million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Cash flow statement

Year toDec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Cash from operations-1,573-3,563-140-1,095-8,232956-2,0128,259
Purchase of property, plant and equipment7701,8328062,3004,2762,0962,2263,156
Free cash flow-2,343-5,394-946-3,394-12,508-1,140-4,2385,103
Cash from investing-3,630740-4,406-33,0764,846631-1,255-7,334
Cash from financing6,7343,59434,33014,6276,0048,015669515
Filing20-F20-F20-F20-F20-F20-F20-F20-F
CNY million, from the cash flow statement as filed.
Read morePurchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.

Balance sheet at year end

Year toDec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Funded by
Equity attributable to shareholders-2,185-6,83034,43042,14736,91136,32931,27530,369
Borrowings, as filedn/a2,1701,8181,6757,79410,90412,13212,709
Other liabilitiesn/a13,9128,45921,83026,78636,93039,29960,085
Total equity and liabilitiesn/a9,25144,70765,65171,49184,16382,706103,163
Owned
Property, plant and equipmentn/a3,2303,0825,42510,60710,95411,52213,527
Goodwilln/an/an/an/an/a34.134.134.1
Other intangible assetsn/a1186088791,0434,9494,6104,253
Cash and cash equivalents1,6321,94729,20911,02514,60821,12718,58617,330
Trade and other receivablesn/a5391,1292,6733,8732,7162,4501,997
Inventoriesn/a4541,3432,6624,5215,5265,56310,381
Other assetsn/a2,9639,33642,98736,83938,85539,94155,641
Total assetsn/a9,25144,70765,65171,49184,16382,706103,163
Filing20-F20-F20-F20-F20-F20-F20-F20-F
CNY million, at each fiscal year end.
Read moreBoth totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toDec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross margin-24.3%-24.0%4.6%12.5%11.5%1.5%14.3%18.9%
Operating margin-17459.7%-162.9%-73.5%-31.3%-32.4%-35.5%-16.3%-3.6%
Net margin-14411.9%-159.0%-46.7%-23.2%-34.0%-33.8%-14.2%-1.5%
Free cash flow margin-24140.3%-232.4%-16.2%-16.2%-46.6%-3.7%-10.4%6.7%
Return on year-end equityn/an/a-7.9%-11.5%-24.8%-28.6%-18.5%-3.8%
Filing20-F20-F20-F20-F20-F20-F20-F20-F

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Questions

What was XPeng's revenue in 2025?

XPeng (XPEV) reported revenue of CNY 76.7 billion for the year to 31 December 2025, up 87.7% on the year before.

How much did XPeng earn in 2025?

Loss attributable to shareholders was CNY 1.1 billion for the year to 31 December 2025, and the diluted loss per share CNY 0.60.

What is XPeng's market cap?

The market cap of XPeng was $9.7 billion at the close of 10 November 2026.

Peers: Automobiles and Trucks

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Tesla, Inc. TSLA$1.50 trillion417.293.6%3.3%8.3%0.11n/a
Toyota Motor Corp. TM *$254.4 billion11.519.6%7.4%5.5%1.083.2%
General Motors Co. GM$75.3 billion20.346.3%2.3%-0.3%2.050.6%
Ferrari N.V. RACE *$73.7 billion41.6040.9%29.5%7.0%0.740.8%
Paccar Inc. PCAR$55.6 billion20.1113.2%n/a-1.5%0.712.6%
Ford Motor Co. F$50.1 billionn/a-21.1%-3.8%-1.4%4.424.9%
Honda Motor Co. Ltd. HMC *$45.3 billionn/a-3.6%-1.9%0.5%1.144.2%
Rivian Automotive, Inc. RIVN$20.0 billionn/a-52.0%-52.9%11.1%0.78n/a
Li Auto Inc. LI *$12.7 billion77.211.5%-0.5%-22.3%0.13n/a
Stellantis N.V. STLA *$12.3 billionn/a-41.8%-17.1%-2.1%0.8618.0%
XPeng Inc. XPEV *$9.7 billionn/a-3.8%-3.6%87.7%0.42n/a
Oshkosh Corp. OSK$8.6 billion17.6811.0%6.8%4.2%0.241.6%
All 51 in Automobiles and Trucks
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Tesla, Inc. TSLA$1.50 trillion417.293.6%3.3%8.3%0.11n/a
Toyota Motor Corp. TM *$254.4 billion11.519.6%7.4%5.5%1.083.2%
General Motors Co. GM$75.3 billion20.346.3%2.3%-0.3%2.050.6%
Ferrari N.V. RACE *$73.7 billion41.6040.9%29.5%7.0%0.740.8%
Paccar Inc. PCAR$55.6 billion20.1113.2%n/a-1.5%0.712.6%
Ford Motor Co. F$50.1 billionn/a-21.1%-3.8%-1.4%4.424.9%
Honda Motor Co. Ltd. HMC *$45.3 billionn/a-3.6%-1.9%0.5%1.144.2%
Rivian Automotive, Inc. RIVN$20.0 billionn/a-52.0%-52.9%11.1%0.78n/a
Li Auto Inc. LI *$12.7 billion77.211.5%-0.5%-22.3%0.13n/a
Stellantis N.V. STLA *$12.3 billionn/a-41.8%-17.1%-2.1%0.8618.0%
Allison Transmission Holdings Inc. ALSN$10.3 billion18.0428.0%18.3%70.8%1.920.9%
Borgwarner Inc. BWA$10.1 billion21.478.4%5.4%0.4%0.531.3%
XPeng Inc. XPEV *$9.7 billionn/a-3.8%-3.6%87.7%0.42n/a
Autoliv Inc. ALV$8.7 billion14.5025.3%9.1%4.3%0.792.9%
Oshkosh Corp. OSK$8.6 billion17.6811.0%6.8%4.2%0.241.6%
NIO Inc. NIO *$8.2 billionn/a-374.3%-16.0%33.1%3.36n/a
Aptiv plc APTV$8.1 billion10.908.8%8.7%-17.1%0.61n/a
Federal Signal Corp. FSS$7.0 billion23.8818.8%16.2%24.0%0.270.5%
Terex Corp. TEX$6.4 billion28.824.0%5.7%40.1%0.521.2%
Modine Manufacturing Co. MOD$5.5 billion43.0210.5%10.1%35.1%0.59n/a
Lear Corp. LEA$5.3 billion9.5711.7%3.7%3.5%0.552.8%
Atmus Filtration Technologies Inc. ATMU$4.5 billion20.5643.8%17.1%13.8%1.880.4%
Thor Industries Inc. THO$4.1 billion23.464.2%n/a0.3%0.222.6%
Dorman Products, Inc. DORM$4.0 billion20.2312.9%13.3%2.2%0.28n/a
Gentex Corp. GNTX$4.0 billion10.4416.0%19.1%7.7%0.002.5%
Garrett Motion Inc. GTX$3.8 billion10.62n/an/a6.9%n/a1.5%
Polaris Inc. PII$3.8 billionn/a-24.4%-1.8%9.5%1.934.1%
Versigent plc VGNT$3.0 billionn/an/an/an/a13.79n/a
Patrick Industries Inc. PATK$2.6 billion20.7011.6%6.3%1.7%1.21n/a
Phinia Inc. PHIN$2.6 billion14.3412.4%8.3%5.6%0.721.6%
Dana Inc. DAN$2.4 billion2.5061.0%3.2%5.1%0.921.9%
LCI Industries LCII$2.4 billion12.0913.6%7.6%-0.2%0.584.7%
Visteon Corp. VC$2.0 billion13.8711.3%n/a1.9%0.230.5%
Blue Bird Corp. BLBD$1.8 billion6.9743.0%11.8%13.5%0.13n/a
Lucid Group, Inc. LCID$1.5 billionn/an/a-255.9%46.5%n/an/a
Adient plc ADNT$1.2 billion26.882.8%n/a5.0%1.38n/a
Goodyear Tire & Rubber Co. GT$1.2 billionn/a-22.2%n/a-3.9%2.800.0%
Dauch Corp. DCH$1.1 billionn/a-14.6%1.1%65.0%3.32n/a
Standard Motor Products, Inc. SMP$998 million14.659.6%8.5%5.5%0.672.9%
Gentherm Inc. THRM$916 million99.401.3%3.4%8.8%0.44n/a
Winnebago Industries Inc. WGO$887 million25.772.8%2.4%-3.4%0.364.5%
Aeva Technologies, Inc. AEVA$856 millionn/a-313.2%-558.6%62.9%2.24n/a
Miller Industries Inc. MLR$542 million31.974.1%n/a-4.2%0.011.7%
Hyliion Holdings Corp. HYLN$538 millionn/a-31.2%-350.5%273.1%0.00n/a
Hyster-Yale, Inc. HY$503 millionn/a-34.9%-2.8%-14.2%1.315.2%
Wabash National Corp. WNC$471 millionn/a-51.2%-10.4%-7.3%2.032.8%
Cooper-Standard Holdings Inc. CPS$351 millionn/an/a1.7%2.2%n/an/a
Holley Inc. HLLY$315 million17.404.1%9.7%3.0%1.09n/a
Strattec Security Corp. STRT$246 million14.847.1%3.9%-0.7%0.00n/a
Motorcar Parts of America Inc. MPAA$141 millionn/a-0.2%6.0%-9.1%0.65n/a
Commercial Vehicle Group, Inc. CVGI$121 millionn/a-7.4%3.0%11.0%0.68n/a
14 companies share its SEC industry code (Motor Vehicles & Passenger Car Bodies); the rest are the names nearest in size in its wider industry, Automobiles and Trucks, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Annual reports on EDGAR

FormYear toFiled
20-F31 December 202516 April 2026EDGAR
20-F31 December 202416 April 2025EDGAR
20-F31 December 202317 April 2024EDGAR
20-F31 December 202212 April 2023EDGAR
20-F31 December 202128 April 2022EDGAR
20-F31 December 202016 April 2021EDGAR