X Financial (XYF) Financial Statements & Analysis

X Financial (XYF) Income Statement

X Financial reported revenue of CNY 7.64B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 30.1% from CNY 5.87B a year earlier. Net income was CNY 1.46B, down 4.9% year over year, a net margin of 19.2%. Gross margin was 100.0% and operating margin 21.3%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 993.58M, down 56.3% from the same quarter a year earlier.

X Financial Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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X Financial income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Mar 2021	Dec 2020	Mar 2020	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	7.64	5.87	3.28	3.56	1.51	-0.06	2.19	1.28	2.17	1.00
Cost of Revenue	2.36	1.96	1.68	1.34	0.14	1.34	2.32	0.31	0.65	0.35
Gross Profit	7.64	5.87	1.60	2.23	1.37	-1.40	-0.12	0.97	1.52	0.65
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00
Selling, General & Administrative	0.20	0.18	0.15	0.98	0.21	0.21	0.21	0.33	0.43	0.17
Operating Expenses	6.01	4.00	0.13	1.14	0.18	0.20	0.34	0.30	0.43	0.17
Operating Income	1.63	1.87	1.47	1.08	1.19	-1.60	-0.46	0.66	1.08	0.48
Other Income/Expense
Interest Income	0.03	0.02	1.12	0.00	0.69	0.63	0.02	0.43	0.08	0.13
Interest Expense	0.00	0.00	1.37	0.83	0.00	0.00	-	0.00	0.00	0.00
Other Income/Expense	0.13	0.07	-0.02	0.13	-0.12	-0.01	-0.22	0.00	0.00	0.00
Income
Income Before Tax	1.76	1.95	1.45	1.22	1.19	-1.61	-1.61	0.66	1.08	0.48
Income Tax Expense	0.29	0.41	0.26	0.40	0.37	-0.30	-0.30	-0.09	0.21	0.14
Net Income	1.46	1.54	1.19	0.81	0.83	-1.31	-1.31	0.77	0.88	0.34
Net Income - Continuous Operations	1.46	1.54	1.19	0.81	0.83	-1.31	-	0.77	0.88	0.34
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	4.85	3.71	1.47	1.09	1.20	-1.59	-0.45	0.68	1.09	0.48
EBIT	4.84	3.70	2.88	1.08	1.30	-	-0.46	-	-	-
Depreciation & Amortization	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Earnings Per Share
Basic EPS	36.00	32.00	147.00	15.00	88.00	-147.00	-24.00	87.00	111.00	47.00
Diluted EPS	35.00	32.00	147.00	15.00	88.00	-147.00	-24.00	87.00	105.00	44.00
Basic Shares Outstanding	0.04	0.05	0.01	0.05	0.01	0.01	0.05	0.01	0.01	0.01
Diluted Shares Outstanding	0.04	0.05	0.01	0.05	0.01	0.01	0.05	0.01	0.01	0.01

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About X Financial Financial Statements

What was X Financial's revenue in fiscal 2025?

X Financial reported revenue of CNY 7.64B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 30.1% from CNY 5.87B a year earlier.

Is X Financial profitable?

Yes. X Financial earned net income of CNY 1.46B in fiscal 2025, a net margin of 19.2%. In fiscal 2024 it earned CNY 1.54B.

What is X Financial's operating margin?

X Financial's operating income was CNY 1.63B on revenue of CNY 7.64B in fiscal 2025, an operating margin of 21.3%, compared with 31.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition